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  • Ok..since we are having another little run up today... I have to do just a little trolling for all of you throughout these threads and prior blog posts who have compared Bitcoin to tulips....not gonna call anyone out, but those of you who have made fun of me over the past year, these two charts are looking at you. Some awfully big tulips.

    Will look even worse when jaco wins his bet and BTC is well into the 6 figures. I’m still buying.

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    • Originally posted by NapoleanDynamite View Post
      Ok..since we are having another little run up today... I have to do just a little trolling for all of you throughout these threads and prior blog posts who have compared Bitcoin to tulips....not gonna call anyone out, but those of you who have made fun of me over the past year, these two charts are looking at you. Some awfully big tulips.

      Will look even worse when jaco wins his bet and BTC is well into the 6 figures. I’m still buying.
      You can call me out for making fun of you, that is fine. It sure feels like tulips and a bubble, but I've also said repeatedly that I have no idea where things will end up.

      Point of reference, though, I am immediately suspicious of a graph that misspells "multiple" and looks like it was created on a Commodore computer.

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      • Originally posted by G View Post
        Point of reference, though, I am immediately suspicious of a graph that misspells "multiple" and looks like it was created on a Commodore computer.
        'Mulriple' is a new word given how equities have acted over the last year. Multiple just wasn't enough.

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        • Interested to see what happens if/when Walmart puts everybody on notice that they have been stacking.

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          • Originally posted by G View Post

            You can call me out for making fun of you, that is fine. It sure feels like tulips and a bubble, but I've also said repeatedly that I have no idea where things will end up.

            Point of reference, though, I am immediately suspicious of a graph that misspells "multiple" and looks like it was created on a Commodore computer.
            Touche on the mulriple...I hadn't even noticed that. The point remains. You really need to ask yourself why this "bubble" has "popped" > 4 times in the past 12 years but keeps "re-inflating" to higher and higher levels. Answer that question for yourself, and you will gain a better idea as to where this train is going. From my experience, when I have popped a bubble I have never been able to re-inflate it.

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            • Been buying some more BTC and ETH over the weekend and into today with the dip. Definitely nice to get it on sale. I suppose for anyone looking to get into crypto, now is a perfect time as long as you're a buy and hold investor for the long term. (Just make sure not to FOMO into DOGE)

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              • It has now been 1 year since my original post on Bitcoin. (the original post was 5/7/20)

                Obviously it has been a good past 12 months for Bitcoin. And although the post of this thread (started in 11/2020) was titled "Bitcoin is still early" I wanted to check in and offer some perspectives about what I think the next 6 months and 5-10 years will hold.

                As many of you know, I have been very much pro-bitcoin but not so much ETH or alt coins. I stated multiple times that I thought ETH would do well over the past year but it did not fit my investment goals/criteria. I would point out that over the past 6 months ETH has outperformed BTC. So if you are judging by that time frame I have lost a lot of $ by not investing in ETH.

                Although it has done very well as of late and may continue to do well for some time, I am sticking with BTC only for the time. My goals remain the same and BTC still fits those goals. In 2020 I put 7.5% of my portfolio (non-home) into BTC. It now represents over 35% of my portfolio mostly on gains. However, I continue to invest about 20% of my monthly retirement savings in BTC.

                I believe it will continue to perform very well the remainder of 2021. I also believe it will perform very well over the next 5-10 years. I still believe it will hit a price between 100K and 500K/bitcoin in 2021. Over the next 5-10 years I think it is likely to achieve a price of >$1,000,000. Thankfully for me this fits my investment timeline. If you are in retirement, or about to retire it may not.

                I have yet to sell any BTC. Although I may sell some over the next 6 months for various business reasons, and also if I want to pursue a real estate purchase, my plan remains the same as it does with my index funds. Buy, hold (HODL), and let compound interest and inflation do their things.

                Let's see what happens over the next 6-12 months, as I have a feeling things are about to get volatile in the very near future. If you have invested in any cryptocurrency, hold on for dear life over the next 6 months and enjoy the ride.

                Good luck my friends!

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                • Originally posted by NapoleanDynamite View Post
                  It has now been 1 year since my original post on Bitcoin. (the original post was 5/7/20)

                  Obviously it has been a good past 12 months for Bitcoin. And although the post of this thread (started in 11/2020) was titled "Bitcoin is still early" I wanted to check in and offer some perspectives about what I think the next 6 months and 5-10 years will hold.

                  As many of you know, I have been very much pro-bitcoin but not so much ETH or alt coins. I stated multiple times that I thought ETH would do well over the past year but it did not fit my investment goals/criteria. I would point out that over the past 6 months ETH has outperformed BTC. So if you are judging by that time frame I have lost a lot of $ by not investing in ETH.

                  Although it has done very well as of late and may continue to do well for some time, I am sticking with BTC only for the time. My goals remain the same and BTC still fits those goals. In 2020 I put 7.5% of my portfolio (non-home) into BTC. It now represents over 35% of my portfolio mostly on gains. However, I continue to invest about 20% of my monthly retirement savings in BTC.

                  I believe it will continue to perform very well the remainder of 2021. I also believe it will perform very well over the next 5-10 years. I still believe it will hit a price between 100K and 500K/bitcoin in 2021. Over the next 5-10 years I think it is likely to achieve a price of >$1,000,000. Thankfully for me this fits my investment timeline. If you are in retirement, or about to retire it may not.

                  I have yet to sell any BTC. Although I may sell some over the next 6 months for various business reasons, and also if I want to pursue a real estate purchase, my plan remains the same as it does with my index funds. Buy, hold (HODL), and let compound interest and inflation do their things.

                  Let's see what happens over the next 6-12 months, as I have a feeling things are about to get volatile in the very near future. If you have invested in any cryptocurrency, hold on for dear life over the next 6 months and enjoy the ride.

                  Good luck my friends!
                  Much of this makes little sense.

                  Your goals dont include making money? If it goes up buy it, you can even diversify crypto.

                  It doesnt matter if you're young or dying in 15 years, theres not a single person that an asset going up 1600% in ten years is not within their timeline.

                  While I guess its possible to hit 1m in price that would put total (even though not available) bitcoin at 21 trillion dollars, kind of a stretch but who knows.

                  Are your goals to simply stan BTC? I mean I realize DOGE is a joke and supposedly worthless, but I also dont see the difference in the 1000+% gain I've got on that than any other 1000% gain, except theyre unlikely in the first place.

                  I hope maximalism comes with extra gainz

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                  • Hrrrrmmmm Bullish on BTC after it has a historic rise and becomes a common place conversation...

                    Now becoming bullish on ETH after it is rising faster then BTC...

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                    • Originally posted by Lordosis View Post
                      Hrrrrmmmm Bullish on BTC after it has a historic rise and becomes a common place conversation...

                      Now becoming bullish on ETH after it is rising faster then BTC...
                      At least theres an argument for ethereum. I think much of its rise is traditional finance types actually looking further into crypto and realizing its power. NFTs and associated things, built on ethereum chain, it currently has a market share of 82+% and climbing as to which is most commonly used block chain. Defi, etc..etc...all these terms and most new tokens (coins) are built using ethereum, smart contracts, etc...and this ubiquity and continual shift is driving its price I believe as people realize it has use and isnt as clunky and one sided as bitcoin.

                      They could be wrong, samsung doesnt do great just because more are using android for example but its at least a business case.

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                      • Originally posted by Zaphod View Post

                        At least theres an argument for ethereum. I think much of its rise is traditional finance types actually looking further into crypto and realizing its power. NFTs and associated things, built on ethereum chain, it currently has a market share of 82+% and climbing as to which is most commonly used block chain. Defi, etc..etc...all these terms and most new tokens (coins) are built using ethereum, smart contracts, etc...and this ubiquity and continual shift is driving its price I believe as people realize it has use and isnt as clunky and one sided as bitcoin.

                        They could be wrong, samsung doesnt do great just because more are using android for example but its at least a business case.
                        I see language about ethereum being “open source.” Is there protection, patent or otherwise, for these ideas? or is it akin to investing in “the internet” in the 1970s, which has a lot of future value for society but not as an asset?
                        “. . . And the LORD spake, saying “First shalt thou take out the Holy 401k. Then shalt thou save to 20%, no more, no less. 20% shall be the number thou shalt save, and the number of the saving shall be 20%. 25% shalt thou not save, neither save thou 15%, excepting that thou then proceed to 20%. 30% is right out . . .””

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                        • Originally posted by blippi View Post

                          I see language about ethereum being “open source.” Is there protection, patent or otherwise, for these ideas? or is it akin to investing in “the internet” in the 1970s, which has a lot of future value for society but not as an asset?
                          dont pretend to know, but that can be the case I think.

                          My thoughts have been in the short term traditional finance/public will see it for an investment and raise price due to that possibility it is 'the blockchain' but it ends up long term highly probable not a big deal. Thats what it should do if it were to work, but thats not how it goes ofc, since it should have amazingly useful and valuable things made on top of it.

                          But until proven otherwise crypto is a waste of resources and hasnt accomplished anything (besides gains in accounts).

                          I dont believe in anything in other words, but I am fine to trade it, works for that.

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                          • My friends tell me to buy bitcoin as a hedge against inflation that is coming. Yesterday CPI goes up and news filled with inflation concerns, bitcoin drops same as the market....

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                            • Originally posted by Otolith View Post
                              My friends tell me to buy bitcoin as a hedge against inflation that is coming. Yesterday CPI goes up and news filled with inflation concerns, bitcoin drops same as the market....
                              Bitcoin tanked yesterday because of Elon....FUD. Had nothing to do with the inflation news. BTC has been trading sideways for the past 2-3 months until yesterday.

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                              • Originally posted by NapoleanDynamite View Post

                                Bitcoin tanked yesterday because of Elon....FUD. Had nothing to do with the inflation news. BTC has been trading sideways for the past 2-3 months until yesterday.
                                I'm pro crypto/BTC....but I don't get Elon on this.

                                It's impossible to believe he's just now learning of BTC mining/energy costs. Nothing changed between when he decided to take BTC as payment and now.

                                Something fishy going on.

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