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  • #76
    Originally posted by jacoavlu View Post
    I’m too lazy to read all 72 replies has anyone said why bitcoin is good other than the fact that it will go up in price?
    No but I can’t help but feel we’re as close as we’ve ever been.

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    • #77
      We had to move some paper charts off-site yesterday at the office for storage. The mover was wearing a Bitcoin mask. NapoleanDynamite was that you?

      Comment


      • #78
        Originally posted by pierre View Post

        What do you mean by this?

        My NW has increased YTD in USD, but if I ran the calculation in BTC I've lost money?
        Yes.

        Comment


        • #79
          Originally posted by pierre View Post
          Also just curious, have you ever paid for an item with BTC?
          Yes. But I wish I had just saved it. Have you ever paid for an item in Gold?

          Comment


          • #80
            Originally posted by xraygoggles View Post
            18k wow this feels like the old days when the bubble first peaked. at this rate it will cross 20k. i might have to sell some
            Are you also selling your VTSMX?

            Comment


            • #81
              Originally posted by Lordosis View Post
              We had to move some paper charts off-site yesterday at the office for storage. The mover was wearing a Bitcoin mask. NapoleanDynamite was that you?
              Nope...I stick to surgery and dealing with bad reviews from patients. But early adoption is just beginning and you are starting to see it.

              Comment


              • #82
                Now let me ask you all some questions. Do you think I am some great market timer? Am I the most intelligent physician to ever invest money in BTC? I started this discussion with my friends and family last fall.(most have made fun of me and still do) I started buying BTC in March. My parents bought Bitcoin in May. I started the discussion on this forum in May when the price was around 9K. I continued it in July (this thread was taken down). I have continued it to this day. The BTC price is now at 18K. Do you all think that this price rise is purely coincidental and I am just very lucky right now? Or could there be some reasoning behind what I have said? Might I have actually been reading and studying BTC the past 3 years? Might there be economic, mathematical, and psychologic sense behind what I have been saying? What does Occam's razor tell you on this one?

                When I was in medical school, I was not the smartest person in the lecture hall. Ever. I was also not the most studious person in the lecture hall. I was pretty darn smart and worked pretty darn hard. But there were definitely others that worked harder and were more intelligent. However, on the topic of BTC, I have studied far more than most of you. For the past 14 years I have read nothing but investment books/data. (along with reading on my specialty to stay up to date) This price increase in BTC has been very predictable and the further price increase is also very likely. Do yourself a favor and go back in this thread and learn from some of the recommended teachers I provided. Your wealth, and your family's wealth will be very appreciative one day. Good luck!

                Comment


                • #83
                  Originally posted by NapoleanDynamite View Post

                  However, priced in Bitcoin, every one of these speculative investments is down this year. If investing just isn’t for you, then I understand. But I suspect that is not the case since you are on an investing website. We all take calculated risks with every investment we make. None are guaranteed to pay off. At this point in time, Bitcoin appears to be the best investment risk to take and one everyone should be considering as part of their asset allocation.
                  My speculative investment in TSLA is 427.8% ytd, bitcoin looks like 148.2%. So priced in TSLA, bitcoin is down this year .

                  With high returns, there carries high risk. Some people are willing to take increased risk, some aren't. If you're that sure of bitcoin, are you investing in it using margin or leverage too?

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                  • #84
                    Originally posted by Nysoz View Post

                    My speculative investment in TSLA is 427.8% ytd, bitcoin looks like 148.2%. So priced in TSLA, bitcoin is down this year .

                    With high returns, there carries high risk. Some people are willing to take increased risk, some aren't. If you're that sure of bitcoin, are you investing in it using margin or leverage too?
                    Great question. No. I don't have the risk tolerance to lose money that I don't have so I am not using margin or leverage. I have also never shorted a stock.

                    I am sure of nothing in life.

                    TSLA has been a great stock. I started buying it around the time I bought my Tesla S in 2013. I made a good bit of money on that stock. But I was dumb and got out in 2018. Have been kicking myself ever since. I have learned a lot from that obvious mistake.

                    Comment


                    • #85
                      Originally posted by NapoleanDynamite View Post
                      Now let me ask you all some questions. Do you think I am some great market timer? Am I the most intelligent physician to ever invest money in BTC? I started this discussion with my friends and family last fall.(most have made fun of me and still do) I started buying BTC in March. My parents bought Bitcoin in May. I started the discussion on this forum in May when the price was around 9K. I continued it in July (this thread was taken down). I have continued it to this day. The BTC price is now at 18K. Do you all think that this price rise is purely coincidental and I am just very lucky right now? Or could there be some reasoning behind what I have said? Might I have actually been reading and studying BTC the past 3 years? Might there be economic, mathematical, and psychologic sense behind what I have been saying? What does Occam's razor tell you on this one?

                      When I was in medical school, I was not the smartest person in the lecture hall. Ever. I was also not the most studious person in the lecture hall. I was pretty darn smart and worked pretty darn hard. But there were definitely others that worked harder and were more intelligent. However, on the topic of BTC, I have studied far more than most of you. For the past 14 years I have read nothing but investment books/data. (along with reading on my specialty to stay up to date) This price increase in BTC has been very predictable and the further price increase is also very likely. Do yourself a favor and go back in this thread and learn from some of the recommended teachers I provided. Your wealth, and your family's wealth will be very appreciative one day. Good luck!
                      all we ever do is talk about the price of bitcoin and post some links to books and videos and articles

                      we could try to have meaningful discussion, perhaps you could give a top one or three reasons why you personally believe bitcoin has / will have true value

                      Comment


                      • #86
                        Originally posted by NapoleanDynamite View Post

                        Nope...I stick to surgery and dealing with bad reviews from patients. But early adoption is just beginning and you are starting to see it.
                        I was just wondering if movers are todays shoeshines?

                        Comment


                        • #87
                          This is a great analogy and is worth quoting. The bitcoin holder would say though, what if monkeys ended up being immortal, nonreproducable, and very useful? I think bitcoin has the ability to transfer wealth internationally and hold value. Currently the US dollar and gold has some ability to do the above but they have a few faults (heavy and inflation and physical restriction). My first thought is couldn't another crypto just replace bitcoin? So I first started by indexing crypto hoping to include the best algorithm but the first to market advantage has allowed bitcoin to incorporate most alternatives' innovations primarily because the money already invested in it inspires coders to work on it first.

                          My bitcoin bias: started researching and dabbling in 2017. In 2018 bought 2 bitcoin for about $5k/btc with about $2k index of alternatives. In 2019 I bought 2 more bitcoin for about $10k/btc. This year I have bought no crypto but I have never sold. In all I spent $33.5k on crypto with now holding 4 btc, 3 eth, 1000 xrp and some minor alts. So if btc = $18k, I have about $72k in value. With recent surge in stocks I made it to a net worth of $1mil, so this represents about 7% of my net worth. I don't buy single stocks and I even own $40k of ibonds, so otherwise a boring conservative indexer. I don't have enough confidence to consider bitcoin truly not speculative but I find it interesting so I'll hold. I think both sides of this argument need to be more considerate though. Remember indexing was considered idiotic ("Bogle's Folly") initially. But I don't think all the questions are answered yet on cryptocurrency.

                          Originally posted by Max Power View Post
                          Lol... I am sure something that produces nothing, unknown origin, no control of supply, forks or spins off new coins whenever creators decide, no real purpose, no widespread acceptance/adoption will do fan-tiggidy-tastic over time. Riiight.

                          The BTC sharks have already swam in and attacked the fools once, and they will circle back around. Kudos to you and other pumpers for rebuilding the hype train... a true lesson in folks' eagerness in selling and buying get-rich-quick hopes and dreams. I would hope the next selloff crash will be the one where they definitively learn the lasting lesson that you don't get something for nothing?

                          "Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.

                          The villagers, seeing that there were many monkeys around, went out to the forest and started catching them. The man bought hundreds of monkeys at $10. As monkeys started to become scarce, the villagers stopped their efforts.

                          He further announced that he would now buy at $20. This renewed the villagers' efforts, and they began catching monkeys again. Soon, the supply diminished even further, and people went back to their farms.

                          The offer was increased to $25 each, and supply of monkeys became so low that it was rare to even see a monkey, let alone catch one.

                          The man announced that he would buy monkeys at $50! However, since he had to go to the city on business, his assistant could pay on his behalf for any monkeys caught.

                          While the man was away, the assistant told the villagers; 'Look at all these monkeys in the big cage that the man has collected from you. I will sell them to you at $35, and when the man returns from the city, you can sell them to him for $50 each.'

                          The villagers rounded up their savings and bought all the monkeys back. Then, they never saw the man nor his assistant again, and once again, there were monkeys everywhere."

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                          • #88
                            Originally posted by NapoleanDynamite View Post

                            Are you also selling your VTSMX?
                            That's a dumb comparison.

                            And remember, I'm long crypto, but I'm also an investor and a realist.

                            Comment


                            • #89
                              Programmed digital scarcity -- Bitcoin is genius. I think the best argument *for* is store of value, basically that of digital gold. BTC was originally thought to be a digital currency -- and it is -- but because of the marked rise in value over time (even if you take out the 2017 and 2020 "bubbles" ) it doesn't make sense to spend it for goods an services. I have some issues with BTC, but those issues I would have had if I as around the first time fiat, gold, shells, or other form of currency was introduced to the world.

                              This is a forum of high net worth individuals, and I would recommend that even the doubters should consider holding at least one BTC. Some investors I trust say 1% of NW should be BTC. You don't have to buy at the current highs -- DCA. IF it goes to zero, it's not going to be a big loss.

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                              • #90
                                Serious question: is there any financial machinery available to be able to buy crypto in IRA?

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