How does a 9.3% savings account sound?

[bovie]

Not necessarily large investments - Dogecoin went up 200x or more i think since 2020. Luna 100x. ETH 40x. BTC 10-20x. Don't need that much initial capital to make a lot.

But the impt thing was to sell before it crashed ofc.

So you have to buy it at the bottom and sell it at the top? Hmm...

Also, using your highest listed return, you'd have to invest >$5k in that one asset to return 7 figures. Way more to return 8-9 figures, and way more in the other assets to return 7 figures.

And you have to have identified that specific shitcoin ahead of time, and avoided all the other shitcoins.

Very, very few people doing that, on the whole.

And then of course we get back to the whole "must buy at the bottom and sell at the top" bit...

[xraygoggles]

This is not entirely true, either.

You’re assuming these people made fairly large investments to have returns of those sizes, despite the percentage returns.

I think the vast majority of people made quite small investments, relatively. Certainly not enough to yield 7-9 figure returns.

Not necessarily large investments - Dogecoin went up 200x or more i think since 2020. Luna 100x. ETH 40x. BTC 10-20x. Don't need that much initial capital to make a lot.

But the impt thing was to sell before it crashed ofc.

[CordMcNally]

i had some money on celsius. now what i'm reading about FTX, it's really just a load of BS. Even if it goes back up, i'm just not interested anymore.

If what goes back up? FTX is dead.

[fatlittlepig]

i had some money on celsius. now what i'm reading about FTX, it's really just a load of BS. Even if it goes back up, i'm just not interested anymore.

[The White Coat Investor]

[*]If someone is selling you something, it is in their best interest, not yours.WALK AWAY, just say no, hard stop, run.[*]If you need something, shop for value. Go find it.

Not quite true. Everything has to be sold. All that stuff you buy at Target had to be sold to Target by someone or you would have never known about it.

Disability insurance, new cars etc. all are sold by someone but they can still be a win/win.

[fatlittlepig]

i had an open mind regarding crypto and defi, but no longer. i'm thinking it's all a bunch of BS.

[jacoavlu]

i think it's safe to say that the crypto decentralized finance space is dead. speaking for myself, lesson learned.

actually, defi (like real defi) has been ok

blockfi isn't / wasn't defi

do you still have your bitcoin on robinhood?

[fatlittlepig]

i think it's safe to say that the crypto decentralized finance space is dead. speaking for myself, lesson learned.

[jacoavlu]

To take this back to the basic economics, supply vs demand determines price.
Supply - limited, this was a "story".
Demand - this was a "story" that may or may not ever play out.

One "fact" that was never considered was that there is absolutely nothing to prevent the "governments" or "deep pocket corporations" to become suppliers. Why pay "retail" when you can "manufacture" the product?
I have no doubt that "governments and deep pocket corporations" would pass up on economic opportunities.

its kind of funny that we place value in these economic principles but then stop when it comes to our money and don't apply the same principles to the dollar

[VentAlarm]

“Greater Fool”

If your success depends on selling before the wheels fall off, then you are looking for the greater fool.

Yes, indicative of a bubble.

I also considered investing in crypto and I am also happy I didn’t.

Yea, I don’t think a portfolio based around VT can ever blow up. I’ve heard of enough docs who have invested in a surgery center, or speculative stocks, or whatever else, to have learned I don’t want to do that. Shoot, Jim had someone on the podcast this week who did it. I see how a 5-10% allocation to something else may juice your returns without blowing up, but I’m not convinced I could put 10% of my portfolio and not let it take over my portfolio.

[Tim]

From 11/2021, A year later this sounds nice. Blind squirrel. Lucky perhaps, but I have learned, and been rewarded by avoiding investing in a risky asset that I don’t understand.

To take this back to the basic economics, supply vs demand determines price.
Supply - limited, this was a "story".
Demand - this was a "story" that may or may not ever play out.

One "fact" that was never considered was that there is absolutely nothing to prevent the "governments" or "deep pocket corporations" to become suppliers. Why pay "retail" when you can "manufacture" the product?
I have no doubt that "governments and deep pocket corporations" would pass up on economic opportunities.

[Tangler]

Yes.

Too good to be true.

You can have risk & high returns or safety, not both.

This time it is different?

Admittedly, I don’t understand it. So, even if it is true and “stable” i will wait on the sidelines and try to learn.

From 11/2021, A year later this sounds nice. Blind squirrel. Lucky perhaps, but I have learned, and been rewarded by avoiding investing in a risky asset that I don’t understand.

[Tangler]

Sounds risky.

👍🐶😜

[Tangler]

That’s literally true of every bubble. I can’t predict the future so I don’t know when a bubble will pop, therefore, I index.

“Greater Fool”

If your success depends on selling before the wheels fall off, then you are looking for the greater fool.

Yes, indicative of a bubble.

I also considered investing in crypto and I am also happy I didn’t.

[VentAlarm]

This is not entirely true.

Anyone that bought any crypto before the bull run in 2020 made a LOT of money (early adopters made 8-10 figs, but that's very very few ofc; late adopters (after 2017) likely made 7-9 figs; noobs starting in 2020 made 6-7 figs just speculating in any coins) - assuming you sold some of it and not round-tripped back to the start.

That’s literally true of every bubble. I can’t predict the future so I don’t know when a bubble will pop, therefore, I index.