The Great Crypto Scam

semperfrosty said:
D Dog-What I must have read is the BRK investment in Nubank.A billion dollars worth of stock in a digital bank that focuses on crypto.
More...
I knew about Nubank but I'd hardly call a billion heavily invested for a company that makes 120 billion profit. Nubank is less than 0.05% of assets. And new bank makes money charging fees for dealing with crypto, sort of like selling shovels to gold miners.
 
deaddog said:
I knew about Nubank but I'd hardly call a billion heavily invested for a company that makes 120 billion profit. Nubank is less than 0.05% of assets. And new bank makes money charging fees for dealing with crypto, sort of like selling shovels to gold miners.
More...

Youre right.Everythings relative.

However I still see that as a significant shift from 25 cents for all the BTC in the universe.
 
semperfrosty said:
But surely someone so assured and vocal would take a position?

No gain in wishing ill on someone else's investments and not having the other side.

By your reasoning,the goal is either to never have a drawdown in your investment or never make a dime.

Doesn't compute for me,but I'm sure I'm missing something.
More...

I don't agree.
I also believe crypto('s are a scam. But I don't go short for several reasosn.
First one is: I never invest in scams for the simple reason that it are scams.
Second one is: I make easier, more money with lower risk in other products (which are no scams).

My goal is to never have a drawdown, and surely not the drawdowns we see in crypto's, and make consistently good money. I try to get as close as possible to that.
 
semperfrosty said:
I assume you're referring to Baron,who documented his investment? I'm not sure when he first started to buy,but even if he did buy at the "top", if he believes in his long term forecast then everything after that is cheap.
More...

That's the hilarious logic of crypto diehards.
He bought 23 times and each time was a loss.
A good investment starts with a good entry.
The 100% bad entries confirm that he has no idea where the market is going.
He has the blind trust that everything will be allright. It resembles a religion.
 
virtusa said:
I don't agree.
I also believe crypto('s are a scam. But I don't go short for several reasosn.
First one is: I never invest in scams for the simple reason that it are scams.
Second one is: I make easier, more money with lower risk in other products (which are no scams).

My goal is to never have a drawdown, and surely not the drawdowns we see in crypto's, and make consistently good money. I try to get as close as possible to that.
More...
virtusa said:
That's the hilarious logic of crypto diehards.
He bought 23 times and each time was a loss.
A good investment starts with a good entry.
The 100% bad entries confirm that he has no idea where the market is going.
He has the blind trust that everything will be allright. It resembles a religion.
More...

I don't see it that way.

Something is at $5,you buy and tell you're friend you believe it will be at $100 in 10 years.

It goes to $10 and you bought again at $6 and $8.

It goes back to $5 and you bought again at $8 and $6.

I don't see these as bad entries.

Now when you apply that to crypto,people get emotional for some reason.Even people with no skin in the game.

If I was to tell you that that was how I traded AAPL in 2009 because I believed in my forecast and I still hold to this day,you would probably be impressed.**

**I didnt.hahaha
 
semperfrosty said:
I don't see it that way.

Something is at $5,you buy and tell you're friend you believe it will be at $100 in 10 years.

It goes to $10 and you bought again at $6 and $8.

It goes back to $5 and you bought again at $8 and $6.

I don't see these as bad entries.

Now when you apply that to crypto,people get emotional for some reason.Even people with no skin in the game.

If I was to tell you that that was how I traded AAPL in 2009 because I believed in my forecast and I still hold to this day,you would probably be impressed.**

**I didnt.hahaha
More...

OK, I will sell you now 100 BTC for $25,000 a piece. According to you that is not a bad entry because BTC will go to 100K or even to 1 MM. So this deal is a win/win. We both will be very happy and we will both make a lot of money. :banghead::banghead::banghead::banghead::banghead::banghead::banghead:

PS: If it makes you happier I even want to sell you 1,000 BTC at $25,000 a piece.

The only thing I never do is act because of FOMO. And that is exactly the thing that causes people to buy when BTC starts to go up. They are afraid for FOMO and they buy, no matter where the price is.
 
Last edited:
semperfrosty said:
Something is at $5,you buy and tell you're friend you believe it will be at $100 in 10 years.
More...
Believe? Belief as in faith?

EgOieYFUMAMQn8G.jpg
 
You must log in or register to reply here.
Back
Top