Thinking about taking the CRYPTO PLUNGE

S

Saltynuts

I'll be brunt - I have NO FAITH that the cryptos are worth anything material. I've always had that view. But THAT SAID, I think this irrationality that people have for them will continue for a good while longer. And they definitely seem to have some "alpha" or "edge" currently, any time they are down people snap them up in short order brining them right back up and away to higher levels. In other words, I think we are not at peak tulip mania, not by a long shot. Get in now and get out (hopefully) before peak tulip mania.

Plus one of my in-laws trades a little bit on Robinhood - its cool that you can trade them like 27/7/365 if you want. With very small amounts of money if you want. If I want 35 cents worth of Bitcoin I can apparently buy just that lol.

Thoughts? Have I gone insane or just finally woken to see the light, like Neo in the Matrix?

Thanks!!!
 
Saltynuts said:
...If I want 35 cents worth of Bitcoin I can apparently buy just that lol.

Thoughts? Have I gone insane or just finally woken to see the light, like Neo in the Matrix?

Thanks!!!
More...

If you are questioning whether or not to invest 35 cents in anything, much less bitcoin, you are too far gone in your head.

Toss it into Amazon. You will sleep better.

 
This looks like the greater fool theory. Or like in a Ponzi scheme, who is left holding the bag when the game ends? Remember the Tulip bulb mania? There were enough suckers even at the end when Tulips value came crushing down. What about the 2008 real estate implosion with legions of first time buyers grabbed all those liar loans? Or the gullible Americans who sent the Nigerian prince tens of thousands of their hard earned monies on the promise that upon paying those processing fees, $10,000,000 will be deposited into their accounts. "A fool is born every second." A saying so true today as it was then.
 
sigh .... I am missing all the fun

One more week to go and I can day trade mini BTC futures.

currently, BTC futures volume is very pathetic.
I am expecting the mini BTC futures volume to be relatively high.

Day traders, Get ready!
Sharpen your swords!
Get ready and profit from the Mother of all Tulip mania.
 
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Don't know how much Bitcoin has gone up recently. Not even paying attention as not interested in it. I will stick to stock options where my maximum risk is the cost of the premium but, returns in the 100%-600% within 1-2 months possible. Let us see if I can turn my options trading parabolic with about 8 months to go in 2021. I'll check on the Bitcoin return end of 2021 just for comparison purposes.
 
Saltynuts said:
I think this irrationality that people have for them will continue for a good while longer. And they definitely seem to have some "alpha" or "edge" currently, any time they are down people snap them up in short order brining them right back up and away to higher levels. In other words, I think we are not at peak tulip mania, not by a long shot. Get in now and get out (hopefully) before peak tulip mania.
More...

how dare you 997.jpg
 
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There are ways to obtain high Sharpe (talking about 10-100) market neutral returns not possible in traditional markets. One key risk is platform risks which you could mitigate by assuming redundancy across network of platforms. Another risk is regulatory risk.
 
The question to ask yourself is what would you do if you lived in Argentina, Turkey, lebanon or any country where you do not trust the central bank? Do you trust the central bank and the currency of where you live?
 
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