Anyone into bitcoin?

[ShannonC]

Bitcoin: be prepared to lose all your money, FCA warns consumers

Regulator cautions public over risk of products promising high returns from cryptoassets

amp.theguardian.com

 

[NIU_Huskies]

Couldn't access the link posted above but I assume its about the last 24 hours. Cryptocurrency has some extreme volatility. You should not invest in it if you aren't comfortable with the fluctuations. But considering today's downturn you can get in even cheaper if you buy now.

Just like stocks, there are highs and lows. You should not sell and panic at the first low. You should also only invest an amount you are comfortable losing. If i had panicked and sold in December 2017 I would have lost thousands on my cryptocurrency purchases rather than being up thousands right now.

Just like Tesla, people will constantly try to predict the fall of Bitcoin and other cryptocurrency.

 

[ShannonC]

Couldn't access the link posted above but I assume its about the last 24 hours. Cryptocurrency has some extreme volatility. You should not invest in it if you aren't comfortable with the fluctuations. But considering today's downturn you can get in even cheaper if you buy now.

Just like stocks, there are highs and lows. You should not sell and panic at the first low. You should also only invest an amount you are comfortable losing. If i had panicked and sold in December 2017 I would have lost thousands on my cryptocurrency purchases rather than being up thousands right now.

Just like Tesla, people will constantly try to predict the fall of Bitcoin and other cryptocurrency.

Yes, it's about a 28% drop in value.

 

[DaveC]

Great thing to buy if you're into huge volatility or running drug money, I guess...

 

[westcoastGT]

Double down , just watch what happens next , not for the weak of heart or unknowledgeable investor .......................

 

[westcoastGT]

Great thing to buy if you're into huge volatility or running drug money, I guess...

study Dave and do lots of research ! and maybe add some of your investment ideas vs dumping here , if you don't have skin in the game maybe this is not the thread for you .............................

 

[DaveC]

Unless your risk profile looks a lot different than mine, not a choice for the great bulk of the investing world. I have done plenty of research on this and many other asset classes over my 66 years. An investor must be willing to lose large amounts of money to own this asset class. I prefer good old S&P index funds, which have served me quite well over the long haul. Please don’t prejudge others’ points of view.

 

[hayagix]

Unless your risk profile looks a lot different than mine, not a choice for the great bulk of the investing world. I have done plenty of research on this and many other asset classes over my 66 years. An investor must be willing to lose large amounts of money to own this asset class. I prefer good old S&P index funds, which have served me quite well over the long haul. Please don’t prejudge others’ points of view.

Well Dave. You may have prejudged us with the "running drug money" remark.

 

[heyheyal]

Btc will typically make a good 25% retreat after very large moves. I had a buy in at 30.4 as a result. You can also make some pretty good trades when things are volatile. I bought and sold 3 separate times during the drop based on support and resistance channel. Now I’m waiting for things to either consolidate or continue the trend down again to that same 30kish level. Currently I still see this as a downtrend and won’t go back in 100% until a confirmed uptrend is established again. However, I always keep some skin in the game just in case . 30k shows some strong support, but only time will tell. While it’s not for everyone more and more institutions are getting in. Does anybody know how things will turn out? No not likely. However, markets like crypto tend to move based on emotions. It follows many of the historic trading patterns and trends more traditional equities do. It’s an experienced day trader goldmine. Which I am not.

 

[westcoastGT]

Unless your risk profile looks a lot different than mine, not a choice for the great bulk of the investing world. I have done plenty of research on this and many other asset classes over my 66 years. An investor must be willing to lose large amounts of money to own this asset class. I prefer good old S&P index funds, which have served me quite well over the long haul. Please don’t prejudge others’ points of view.

good one Dave , now bug out , because you have done exactly what you are recommending other's not to do ................I have several "other " investments which may conform to your narrow perspective..................mark this date and review BTC and the other top segment performers in a year from now and lets' compare then

 

[GregS]

Unless your risk profile looks a lot different than mine, not a choice for the great bulk of the investing world. I have done plenty of research on this and many other asset classes over my 66 years. An investor must be willing to lose large amounts of money to own this asset class. I prefer good old S&P index funds, which have served me quite well over the long haul. Please don’t prejudge others’ points of view.

A healthy portfolio has the right mix of blue chip and speculative assets, BTC is no riskier that oil explorers and high tech start ups.

As you get older (and I presume you are 66 y.o. or is this how long you have been trading?) portfolios tend to be more risk averse, e.g. you don't want to bet your retirement on a high risk asset.

But if you have the money to lose and the time to get it back BTC looks pretty good. Mind you, I come from the land of punters.

 

[DaveC]

good one Dave , now bug out , because you have done exactly what you are recommending other's not to do ................I have several "other " investments which may conform to your narrow perspective..................mark this date and review BTC and the other top segment performers in a year from now and lets' compare then

I will do that. See you on 1/11/22.

 

[westcoastGT]

OK for reference , Today BTC is $33K , ETH is $1050 and XRP is $.28 .................see you in a year , maybe add your stock reference points to make it more dynamic

 

[DaveC]

OK for reference , Today BTC is $33K , ETH is $1050 and XRP is $.28 .................see you in a year , maybe add your stock reference points to make it more dynamic

Excellent. To keep it simple, S&P index currently at 3800.

I marked my calendar for next year. My first wager for 2021!

 

[rpoffen]

Just don't do what this guy did..

A German programmer has 2 chances to correctly guess the password to his hard drive or he'll lose $220 million

 

[hayagix]

Just don't do what this guy did..

A German programmer has 2 chances to correctly guess the password to his hard drive or he'll lose $220 million

That's wild! What a dummy. That would be my "worst nightmare".......snicker......

 

[heyheyal]

A healthy portfolio has the right mix of blue chip and speculative assets, BTC is no riskier that oil explorers and high tech start ups.

As you get older (and I presume you are 66 y.o. or is this how long you have been trading?) portfolios tend to be more risk averse, e.g. you don't want to bet your retirement on a high risk asset.

But if you have the money to lose and the time to get it back BTC looks pretty good. Mind you, I come from the land of punters.

That's wild! What a dummy.

Maybe he should try Hello123 or Password. Not the first time I have seen stories like this.

 

[cncBilly]

OK for reference , Today BTC is $33K , ETH is $1050 and XRP is $.28 .................see you in a year , maybe add your stock reference points to make it more dynamic

Can I put my micro cap up against it for largest percentage gain.

 

[DaveC]

OK for reference , Today BTC is $33K , ETH is $1050 and XRP is $.28 .................see you in a year , maybe add your stock reference points to make it more dynamic

Just remembered that we started this thread on Monday when I believe (at one point) BTC was around $40,000. So you got a good head start. Haha.

 

[westcoastGT]

Just remembered that we started this thread on Monday when I believe (at one point) BTC was around $40,000. So you got a good head start. Haha.

Well , it's bumping into 40K again today , but part of your issue was volatility , which has upsides . If you want to start the clock again today I'm fine ....................... edit: Monday the 11th BTC was down to $30.5..................