Bitcoin millionaire

[jacoavlu]

So this person is apparently 300k in with 500k gains. Does that imply the bulk of the investments are within the last year? Bitcoin a year ago was around 10k.

your guess is as good as mine

[FunkDoc83]

this.

i know an ER doc (also a real one, he also showed me the balances) who bet his entire nest egg on a single stock, at the age of 59.

he bought at about $4, company is now bankrupt.

it was a sure bet.

all that being said, OP good for your friend.

So what happened to this doc? I know a colleague who bet it all on pot farming. They are in the same boat as your ED friend.

[CordMcNally]

It’s more impressive that he doesn’t have more after starting to invest in 2016. I’m guessing he wasn’t able to put much in during residency.

[jacoavlu]

It’s more impressive that he doesn’t have more after starting to invest in 2016. I’m guessing he wasn’t able to put much in during residency.

well I heard crypto not just bitcoin so my guess would be that he has traded in and out of shitcoins. if he was just into bitcoin he'd probably have more but also likely wouldn't be sharing it with screenshots.

[Hatton]

I feel certain bitcoin will crash because I was actually looking up and considering buying this new bitcoin etf. futures.

[jacoavlu]

I feel certain bitcoin will crash because I was actually looking up and considering buying this new bitcoin etf. futures.

don't

if you want to invest in bitcoin just buy bitcoin

[Hatton]

I was curious not see if Vanguard would let me buy it now that there is a ticker symbol

[MPMD]

So what happened to this doc? I know a colleague who bet it all on pot farming. They are in the same boat as your ED friend.

he's still working, a lot

[jacoavlu]

I was curious not see if Vanguard would let me buy it now that there is a ticker symbol

what did you find out

[Anne]

Is 1 million dollars worth more/more impressive when you write it as 1 MILLION DOLLARS?

I also think it’s funny when people say things in fractions of a million to make it sound more impressive. That house is HALF A MILLION DOLLARS! He has A QUARTER MILLION DOLLARS in debt from medical school. Just say the amount.

[jfoxcpacfp]

BTC is still early, crypto as a whole is still early, we've likely reached early majority during this bull cycle in the technology adoption life cycle but that's still early. You can still invest, you will still make money, you will still have much better returns than any other traditional investment at this time

Why does this sound so familiar? Of course! I was watching CNBC nonstop in early 2000. And up to my eyeballs in Yahoo investing forums.

So so glad I learned that lesson with my own money before becoming a financial planner and charging people money for this advice. Unfortunately, investment advisors who haven’t learned yet (and never will) are pretty easy to bump into. And I bet some of your colleagues are recommending them.

[nycEMMD]

Why does this sound so familiar? Of course! I was watching CNBC nonstop in early 2000. And up to my eyeballs in Yahoo investing forums.

So so glad I learned that lesson with my own money before becoming a financial planner and charging people money for this advice. Unfortunately, investment advisors who haven’t learned yet (and never will) are pretty easy to bump into. And I bet some of your colleagues are recommending them.

I actually love when people make this argument, it kind of proves my point that we're still early. It's funny how many people will call it a bubble without taking the time to educate themselves on what crypto really is. If you did your due diligence I know for a fact you wouldn't be saying this. So as long as people keep thinking BTC is in a bubble I'll keep buying. As long as people keep thinking govt regulation can kill BTC, ill keep buying. As long as people are doubtful about crypto's potential in the future, I'll keep buying. And most importantly, as long as people continue to make misinformed statements about crypto, I'll keep buying. We're still super early

[StateOfMyHead]

I always think its not over until its over. If someone tells me they cashed in and that is their profit I'm more inclined to be impressed. Also and maybe its because my luck is bad but any time I have done anything in life largely based on FOMO it bit me in the backside.

[wideopenspaces]

I think you'll find a lot more happiness in your life if you can learn to be content with what you have. It allows you to be a better friend too if you can just share in the successes ( and the failures) of those around you. I'm guessing you have a lot of good things going for yourself op. Focus on that!

[blippi]

for fomo, try taking the bigger view that you are both doing better than most of the world financially. i try to avoid it by not asking about the finances of my friends.