Current Events > Bitcoin is literally free and easy money. Why are you not buying?

(+) Yeah! (+)

During the Christmas holiday, the price of Bitcoin was still under $20,000. Today it reached over $56,000.

Even if you bought a little, you would've made massive gains in a very short amount of time. You could've used that money to pay off your mortgage, debt, used it for a nice vacation or car, etc.

Think about it this way: Tesla bought $1.5 billion worth of Bitcoin. There's NO WAY they would risk that amount of cash if they weren't 100% positive that it would make them more money in the long run.

So ask yourself: why are you not doing yourself a favor and buying Bitcoin?

Alternatively, you could buy Ethereum, which is the second largest cryptocurrency. It's currently still under $2,000, but not for long.

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High fees and slow transactions make it pointless
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Im not buying specifically because rob cesternino from ce told me to.

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Is tc Jessica simpson because I bet she gives great investing advice

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MarthGoomba posted...

High fees and slow transactions make it pointless

My pointless cryptocurrency has grown by $85k in February alone

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Rob Cesternino posted...

why are you not doing yourself a favor and buying Bitcoin?

It's a bubble?

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Holy shit it is at 57k now. There must be CE bitcoin millionaires. I remember crypto general threads back when it was 5K and them getting trolled that it would crash back when it was 5k

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Up 10Stacks off of Crypto but I'm cautiously looking out for the correction right now

Prismsblade posted...

It's a bubble?

it was a bubble in 2017 as well, yet?

Prismsblade posted...

It's a bubble?

*Btc goes from 700 to 20000*
"It's a bubble"
*Goes to 30k*
"Such a bubble"
*Goes to 40k*
"A great bubble"
*Goes to 50k*
"Possibly the best bubble"
*Headed toward 60k*
"How do I buy bitcoin"

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Because it's a Ponzi scheme. There's no inherent value, and the only reason it keeps going up is that greedy people keep buying in. And no, it not valuable as a currency. A currency that fluctuates in value that much, especially upwards, is worthless as a currency.

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2Pacavelli posted...

Up 10Stacks off of Crypto but I'm cautiously looking out for the correction right now

based on previous cycle correction is expected around 72k down to 40k ish, so selling somewhere between 65 and 70k is probably a good play, then buy back somewhere around 45k, then were off to 100k+ probably

Squall28 posted...

Because it's a Ponzi scheme. There's no inherent value, and the only reason it keeps going up is that greedy people keep buying in. And no, it not valuable as a currency. A currency that fluctuates in value that much, especially upwards, is worthless as a currency.

what about gold, is gold worthless?

Squall28 posted...

Because it's a Ponzi scheme. There's no inherent value, and the only reason it keeps going up is that greedy people keep buying in. And no, it not valuable as a currency. A currency that fluctuates in value that much, especially upwards, is worthless as a currency.

People have been saying this for like 10 years now. And it keeps going up and now companies like Tesla are buying it. It looks like Bitcoin is the future and everyone that didn't listen to people like you 5-10 years ago are all millionaires or at least made 5x what they invested if they held it.

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ROOTFayth posted...

what about gold, is gold worthless?

https://geology.com/minerals/gold/uses-of-gold.shtml

Also, the price of gold doesn't fluctuate like crypto.

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Ive made 50x ish so far while selling some on the way, already well covered the initial investment, it really doesnt matter if you believe in BTC long term or not, theres a ton of money to be made regardless

I also made a lot playing online poker while Id hear people say in live tourneys that online poker was rigged lol

some people just hate money, or hate the idea of losing some of it so much that they prevent themselves from making any significant amount

ROOTFayth posted...

Ive made 50x ish so far while selling some on the way, already well covered the initial investment, it really doesnt matter if you believe in BTC long term or not, theres a ton of money to be made regardless

I also made a lot playing online poker while Id hear people say in live tourneys that online poker was rigged lol

some people just hate money, or hate the idea of losing some of it so much that they prevent themselves from making any significant amount

Its psychological most people would prefer NOT to lose 1000 over making 1000

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Squall28 posted...

https://geology.com/minerals/gold/uses-of-gold.shtml

Also, the price of gold doesn't fluctuate like crypto.

I bought 6 figures worth of gold in 2011, and I bought bitcoins in 2013, Ill let you guess which yielded a better return

BlueTigerLion posted...

People have been saying this for like 10 years now. And it keeps going up and now companies like Tesla are buying it. It looks like Bitcoin is the future and everyone that didn't listen to people like you 5-10 years ago are all millionaires or at least made 5x what they invested if they held it.

Tesla is another meme company. Bitcoin didn't become a vehicle for growth until the last year or so. It will drop off from the mainstream in a few years, and be left with the bunker boys like it was before.

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Uncertainty?
Not sure what Bitcoin to invest in?
Not sure how much Bitcoin I need to buy, how much money I need to put in?
Lack of good guides that detail you the step by step process of how the market works or when to pull out?


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I want to make meaningless predictions too! Is it my turn yet?!

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ROOTFayth posted...

Ive made 50x ish so far while selling some on the way, already well covered the initial investment, it really doesnt matter if you believe in BTC long term or not, theres a ton of money to be made regardless

I also made a lot playing online poker while Id hear people say in live tourneys that online poker was rigged lol

some people just hate money, or hate the idea of losing some of it so much that they prevent themselves from making any significant amount

If you admit you're gambling, then that's fine. I'm just saying it's not a real investment. It's like going to the casino and winning big one night. You're not investing by going to Vegas.

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Bad advice is dangerous. I almost sold my Crypto when Bitcoin was at 30K and dipping because of bad advice. Glad I didn't listen

Squall28 posted...

If you admit you're gambling, then that's fine. I'm just saying it's not a real investment. It's like going to the casino and winning big one night. You're not investing by going to Vegas.

dude high variance doesnt mean its like the pit games, pit games are all -EV, otherwise you could say stock market is gambling, anything investing is gambling, Ive invested in 3 different start up companies, one of em busted... gambling? I guess so mate, Ill take +ev gambling any day over holding fiat which is a guaranteed loss especially with the pandemic

if you had no money invested anywhere during the pandemic youre getting fucked in the ass without lube really hard and you wont realize it yet

Rob Cesternino posted...

There's NO WAY they would risk that amount of cash if they weren't 100% positive that it would make them more money in the long run.

I see you're entirely unfamiliar with Tesla.

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2Pacavelli posted...

Bad advice is dangerous. I almost sold my Crypto when Bitcoin was at 30K and dipping because of bad advice. Glad I didn't listen

a better strategy in crypto is to buy when people are scared and giving up, and sell when people are too excited, keep in mind you never need to sell all of it, can be in increments and taking profit is always a good thing even if you dont hit the top

ROOTFayth posted...

a better strategy in crypto is to buy when people are scared and giving up, and sell when people are too excited, keep in mind you never need to sell all of it, can be in increments and taking profit is always a good thing even if you dont hit the top

That's a fact I agree

Just looking at the fact you can stake your Crypto and get passive income makes me feel it is almost never a good Idea to sell all of it. You cant stake US Dollars or Gold and Silver. But you can stake Crypto.

So even if the price dips. Staking and other passive income rewards make up for it

Squall28 posted...

If you admit you're gambling, then that's fine. I'm just saying it's not a real investment. It's like going to the casino and winning big one night. You're not investing by going to Vegas.

The price of Bitcoin is almost exactly where I expected it to be when I got in in 2018. There is a gambling aspect to it, but there's also good reason to expect the value to keep going up over the long term. There's no good reason to expect to profit over the long term in Vegas.

There will be bubbles that burst, but as long as people keep wanting to buy, the price is bound to keep going up over the long term due to the scarcity of the asset. It's still early.

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2Pacavelli posted...

Just looking at the fact you can stake your Crypto and get passive income makes me feel it is almost never a good Idea to sell all of it. You cant stake US Dollars or Gold and Silver. But you can stake Crypto.

So even if the price dips. Staking and other passive income rewards make up for it

For the ignorant, what's staking?

Probably cause no one really knows that it's going to jump from 20000 to 57000 in a couple of months before it jumps from 20000 to 57000 in a couple of months. I'm sure everyone would buy some if they did.

Ruvan22 posted...

For the ignorant, what's staking?

not sure if its what he meant but in poker at least its lending money to someone to play and you get a share of their profit

im guessing its similar with crypto

Squall28 posted...

There's no inherent value

just like normal money. it's almost as if currency only has value because people agree that it has value. what a concept.

Squall28 posted...

the only reason it keeps going up is that greedy people keep buying in

"i admit that it keeps going up but i don't like the reason why it happens >:("

Squall28 posted...

And no, it not valuable as a currency. A currency that fluctuates in value that much, especially upwards, is worthless as a currency.

and yet it worked fine for the people of nigeria until their shitty government banned it

what an incredibly dumb post

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Ruvan22 posted...

For the ignorant, what's staking?

Staking rewards you with a certain % of your coin holdings over time

Some coins require you to actually stake it with an unbonding period, some don't

Algo is a good one because of its low fees
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Woodger posted...

Probably cause no one really knows that it's going to jump from 20000 to 57000 in a couple of months before it jumps from 20000 to 57000 in a couple of months. I'm sure everyone would buy some if they did.

if you read a bit on market analysis and look at the history of bitcoin you still see that history tends to repeat itself although not a guarantee, nobody is really trying to buy the rock bottom and sell the absolute top but we see some entry points as higher EV(expected value) and sell some when we expect pullbacks to rebuy lower and end up with extra bitcoins or other crypto

that said crypto bullruns are extremely easy to make money in as long as youre not too greedy, not wanting to buy any in fear of losses is as greedy as not wanting to sell any in fear of missing out on potential gains

EndOfDiscOne posted...

The price of Bitcoin is almost exactly where I expected it to be when I got in in 2018.

Based on what? There's no revenue. There's no profit. It doesn't produce anything that people use or would pay for. It's sole reason for going up is people buy it in hopes of getting more money back, and you will get more money back if more people buy in, hence Ponzi Scheme.

a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

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Squall28 posted...

Based on what? There's no revenue. There's no profit. It doesn't produce anything that people use or would pay for. It's sole reason for going up is people buy it in hopes of getting more money back, and you will get more money back if more people buy in, hence Ponzi Scheme.

a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

I dont think you understand the point of a currency, we actually want bitcoin to become mainstream and use to buy goods

what about FX trading, is this a ponzi?

Squall28 posted...

Based on what? There's no revenue. There's no profit. It doesn't produce anything that people use or would pay for. It's sole reason for going up is people buy it in hopes of getting more money back, and you will get more money back if more people buy in, hence Ponzi Scheme.

a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

The stock to flow model. I've never been quite sold on this model, but the price is strangely tracking along with it. https://digitalik.net/btc/

A Ponzi scheme doesn't make sense. Bitcoin starts with the miners who bear the cost of mining. The initial purchase goes to cover the cost of mining. Unlike in a Ponzi scheme, the initial party is putting forth capital. And the flows of money are all tracked.

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EndOfDiscOne posted...

The stock to flow model. I've never been quite sold on this model, but the price is strangely tracking along with it. https://digitalik.net/btc/

i have no idea what i'm looking at

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TheBlueMonk_ posted...

*Btc goes from 700 to 20000*
"It's a bubble"
*Goes to 30k*
"Such a bubble"
*Goes to 40k*
"A great bubble"
*Goes to 50k*
"Possibly the best bubble"
*Headed toward 60k*
"How do I buy bitcoin"

Lets be honest its too late to expect immense profits at this point; people are going to double our quadruple money at best with no guarantees when it will occur. If someone has the spare flex sure, but there are better coins to invest in. Bitcoin is not going to be the apex crypto in the long haul, theres too many design flaws

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I chose ethereum and its doing pretty well. Bitcoin was around $30k when I did that, still kinda punching myself for not putting money into Bitcoin or Ethereum like 4 years ago when I found out about it.

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ShyOx posted...

Lets be honest its too late to expect immense profits at this point; people are going to double our quadruple money at best with no guarantees when it will occur. If someone has the spare flex sure, but there are better coins to invest in. Bitcoin is not going to be the apex crypto in the long haul, theres too many design flaws

the real alt gains generally starts when bitcoin is close to peaking, so right now bitcoin is prob your best bet, a bit later on some alts could way outperform bitcoin

I mean you could be lucky and bink a super low cap alt but now THAT is more like gambling

I have a small amount in crypto. My main concern long term is if governments around the world start seriously regulating it or outright ban them from being used.

*makes $50 million off a $1 lottery ticket*

Can't argue with those returns!!

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It's dipping at the moment

What did you guys do???

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ROOTFayth posted...

the real alt gains generally starts when bitcoin is close to peaking, so right now bitcoin is prob your best bet, a bit later on some alts could way outperform bitcoin

I mean you could be lucky and bink a super low cap alt but now THAT is more like gambling

If I have the cash Ill get Bitcoin on the inevitable crash, but Id rather use my piddling money to day trade the others :)

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im not 13 posted...

It's dipping at the moment

What did you guys do???

its too small a dip lol, those are always irrelevent, I only make moves on big movements, -25% dip is worth buying, -2% not so much

ROOTFayth posted...

its too small a dip lol, those are always irrelevent, I only make moves on big movements, -25% dip is worth buying, -2% not so much

2% of a BTC is relevant bro. Unless you are a millionaire or something

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im not 13 posted...

It's dipping at the moment

What did you guys do???

stick to my regular buying schedule

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