Bitcoin is still early

[NapoleanDynamite]

Why did you buy it in the first place? I buy everything to hold long term. I check various prices of stocks throughout the day (most of which I don't directly own) for fun. I've bought Bitcoin and Cardano to hold for the long haul. I check their prices daily but it doesn't change my ultimate strategy. It's all a long term play.

Holy cow...I actually agree with something Cord has posted on this thread. Might be the first time in a year. With the exception of the Cardano part, I agree with everything he has said here.

[xraygoggles]

Bitcoin is a levered risk asset, it crashed with inflation and the market long before the elon announcement which was after hours.

No kidding. Epic crash right now.

[Otolith]

Anyone buying the dip?

[Tangler]

Anyone buying the dip?

how are you purchasing? Just curious. I probably won’t do it but wondering where/how?

[White.Beard.Doc]

I am so out of the loop on this newfangled block chain cryptocurrency stuff. I figured that anyone, any government, any large business (Amazon?) could start a new cryptocurrency, so that no one could possibly know which currency or currencies might end up being valuable in the future... or perhaps end up being worthless. Way too speculative for my taste. And all the brilliant traders boasting of their gains and then everyone jumping aboard always had the flavor of a Dutch tulip event.

[Tangler]

I am so out of the loop on this newfangled block chain cryptocurrency stuff. I figured that anyone, any government, any large business (Amazon?) could start a new cryptocurrency, so that no one could possibly know which currency or currencies might end up being valuable in the future... or perhaps end up being worthless. Way too speculative for my taste. And all the brilliant traders boasting of their gains and then everyone jumping aboard always had the flavor of a Dutch tulip event.

Interestingly I heard a Bogleheads podcast where a historian discussed bubbles and apparently the tulip bubble was written about and popularized but it was not really a big "true" event. Other bubbles (ex. south seas company, Mississippi company, .com, housing,) were also discussed but no the tulip thing was a myth / urban legend and a fun story but not real, at least according to that historian.

Crypto a bubble? I have always thought so. But, I don't understand it enough. I tried to figure it out in 2016-2017.......listened to the "invest for the best" podcasts that discussed and explained blockchain technology and crypto and then I decided it was too complicated for a busy doc (especially one with average intelligence) to figure out and "invest" in it.

I don't think I will ever pull the trigger on it. My wife would kill me. I think there are some people who will profit from it, but there are a lot of people looking for the greater fool who I doubt fully understand it.

Banks, government $, federal reserves...............I am not a huge fan, but I could see them killing anything that takes power from them.

30 years from now we will know if it was the next big thing or if it was a "tulip".

[pierre]

how are you purchasing? Just curious. I probably won’t do it but wondering where/how?

I just logged into PayPal for the first time in years and found out you can buy it there

[CordMcNally]

how are you purchasing? Just curious. I probably won’t do it but wondering where/how?

I use Coinbase Pro myself but there are other large exchanges. It’s like any other risky investment, don’t get more than you can afford to lose. It should really be a long term play anyway because the short term fluctuations can be massive.

[chrisCD]

I dabbled within my IRA, GBTC, but it is down quite a bit. I dabbled with some other stuff, too, but about 65% of my stocks are in index funds. cd :O)

[Lordosis]

I might win that bet I made! Too bad my sparring partner seems to have disappeared.

[Jaqen Haghar MD]

Well... if you’re a believer in Bitcoin, you should be pouring in every penny you’ve got right now. Here’s your buying opportunity.

I have some FOMO today, but I’m not a crypto person, so I’m still not into it. But back in the trading days, I’d be overjoyed today.

[blippi]

jumped in with a negligible amount for some day trading fun, hope i can recover principle. don’t really believe in crypto but i also don’t pretend to really understand it.

down 1% in as many seconds.

anyone interested in a barely used fax machine?

[CordMcNally]

anyone interested in a barely used fax machine?

You including any reams of paper?

[NapoleanDynamite]

Blood in the streets. I love to see it. I bought a nice chunk at 32K today. I also bought a nice chunk March 12, 2020. If you have been waiting on the sidelines....Now is a great time to start DCA-ing in. It might drop into the 20's, but I don't see it going lower than that short term.

[NapoleanDynamite]

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.

For all of you "Tulip" and "Bubble" people....clearly you missed my post a few pages back. The same "Bubble" claims were made in 2017. Ask yourself why this bubble never fully pops and then keeps re-inflating bigger and bigger.