#DropGold / Why Bitcoin's Revival Is Different This Time Around
- Thread starter johnarb
- Start date
You have/had a very good job but took on credit card debt to trade. What a clown you are. Enough said. Am out of this thread. What a waste of time (as usual)
You're the biggest idiot not for being envious of what others have, lol. I have a very good job, and can afford the debt, but debt has been paid. It was investment I considered lost already, just like when I used to buy call and put options, and once in a while took some homeruns.
Where was I a few months ago, dude, I've been here, look at how many threads I've been posting about bitcoin adoption, but people like you who missed out don't really pay attention. Continue to miss out on the greatest wealth-creator market in history and you'll feel just as disgusted with yourself for being so stupid.
You think you're the only one who missed out? I've already said I traded litecoin when it was $5 worth, I missed out on the "fund-raising" of Ethereum, but still, when it first came out, it had problems, so price around 20-40 cents for months, I didn't buy, it went to $2, oh shit, I missed out on a 10 bagger, no way I'm buying it, damn, it went to $20, another 10 bagger, all the way to $1400 until it crashed it's now at $257 Ethereum has probably made more millionaires than bitcoin, and there are many coins with similar returns, but you know what you're such an idiot you don't research the cryptos market and just keep spouting out hate, because you missed out. Lol, I'll be here many months from now, and you'll still be hating, loser.
Very good job means stable, it's in IT. Bye bye, idiot, you come here to cryptocurrency thread to troll, and then now you leave, lol. Good riddance. Keep hating, stay angry at yourself for missing out. Come back again in a few months and be a troll again. I'll be here. Bye bye for now
People with your risk averse attitude hardly make any money. And probably hate capitalists too.
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Buying bitcoin and holding for the big score is just gambling. Might as well buy lotto tickets or hit the casino.
It looks like an excellent trading vehicle, except:
1) I wouldn't put one hard-earned dollar in a "crypto exchange" with a gun to my head. Almost every week brings a new hack or scam.
2) CME regulated futures margins are extremely high.
3) Low liquidity, unregulated marketplace, and massive manipulation make it impossible for small fry to manage risk properly. It's like the early 1900s stock market described by Jesse Livermore, speculator whales and insider pools battling it out to screw over the other and ultimately dump to public bag-holders.
It looks like an excellent trading vehicle, except:
1) I wouldn't put one hard-earned dollar in a "crypto exchange" with a gun to my head. Almost every week brings a new hack or scam.
2) CME regulated futures margins are extremely high.
3) Low liquidity, unregulated marketplace, and massive manipulation make it impossible for small fry to manage risk properly. It's like the early 1900s stock market described by Jesse Livermore, speculator whales and insider pools battling it out to screw over the other and ultimately dump to public bag-holders.
Could not help it to point you to the fact that many hedge funds who generate even less returns than I indicated manage tens and hundreds of billions of assets. I don't think any of them nor I hate capitalists. But I wish you the best of look shooting for the stars. Maybe you catch one. Most likely not.
1. This is very important and needs addressing. Not your private keys, not your coins. If you read about bitcoin (cryptos) and all you know is that your funds or coins will be in some shady exchange, you did not do more research.
Always withdraw your coins to your local wallet. Whenever I bought bitcoin, I buy $2-300 and withdraw immediately.
Litecoin at a price of $1.10 was not available for purchase using $. Same with Ethereum at $0.20 - $20. Same concept as above, you send $2-300 worth of bitcoin to an exchange that supports litecoin or Ethereum (or any other coin) and withdraw immediately. You can do this 10 times or 100 times, one day or several days to get your desired amount.
There's other forms of trading. Above is cryptos trading. Or if you stop at bitcoin, it's ok too, but never leave your coins (Coinbase is pretty safe, though) at the exchanges as those coins belong to the exchange with a market (your account) indicating that they owe you coins, but if the exchange gets hacked or closes down, well you get the picture.
If you want to discuss bitcoin (cryptos) market like adults, we can do that too.
No one, not even me, is telling you to invest a significant portion of your net-worth into bitcoin or cryptos. You can google "Thomas Lee bitcoin" or Mike Novogratz (billionaire investor) and both of them are only advising to invest 1-5 percent of a wealthy investor's portfolio into this emerging uncorrelated, experimental, financial asset space.
If the value of your portfolio is around $100K, then you may increase the limit to as much as 10 percent. Thomas Lee has a great video that is on YouTube that explains this better, but because of the outsize gain possible with bitcoin, the volatility actually smooths out the returns of the portfolio as it works in conjunction with your other investments and bitcoin is uncorrelated.
What happened in my case? Let's just say I make ~$100K in my job, I made an asymmetric investment of ~$7,000 into bitcoin (cryptos). Same as I've done with options, except bitcoin has no expiration date. It was money I considered lost from the time I put it in.
I don't have $100,000 investment portfolio or net-worth, but $7,000 is hardly going to put me in hardships forever, and it's only 7% of my yearly salary. College students are investing much more than that to their future, and they come out of school with huge debts that last for a long long time.
As my portfolio value has increased, I have cashed out to pay off the debts, and still now, the value of the portfolio is not something I could have achieved or even dreamed of if I had not invested in this space.
It doesn't matter. I also didn't make money on pets.com.
You're the biggest idiot for being envious of what others have, lol. I have a very good job, and can afford the debt, but debt has been paid. It was investment I considered lost already, just like when I used to buy call and put options, and once in a while took some homeruns.
Where was I a few months ago, dude, I've been here, look at how many threads I've been posting about bitcoin adoption, but people like you who missed out don't really pay attention. Continue to miss out on the greatest wealth-creator market in history and you'll feel just as disgusted with yourself for being so stupid.
You think you're the only one who missed out? I've already said I traded litecoin when it was $5 worth, I missed out on the "fund-raising" of Ethereum, but still, when it first came out, it had problems, so price around 20-40 cents for months, I didn't buy, it went to $2, oh shit, I missed out on a 10 bagger, no way I'm buying it, damn, it went to $20, another 10 bagger, all the way to $1400 until it crashed it's now at $257 Ethereum has probably made more millionaires than bitcoin, and there are many coins with similar returns, but you know what you're such an idiot you don't research the cryptos market and just keep spouting out hate, because you missed out. Lol, I'll be here many months from now, and you'll still be hating, loser.
Mods, please delete this entire thread. What happened to EliteTrader? Seems that they all left.