U.K. Regulator Warns Crypto Investors Risk Losing ‘All Their Money’
- Thread starter themickey
- Start date
NXT
Sub $1? Nah, dude btc wasn't sub $1 in 2013
I also borrowed from credit cards to purchase btc in 2013 (April?) and it was $100/btc,and by the end of 2013 it was ~$1000/btc
Horrible time on the emotions for anyone to get into btc and cryptos in 2013/2014
I lost all profits but never sold out, continued to hodl and buy even when bills were piling up. Conviction matters
Much better time to get into bitcoin and cryptos was when the bear market ended in 2016 btc at ~$150
Or if you did your research thoroughly, Jan/2015 was a good time to load up on bitcoin and cryptos and would have enjoyed the bull market in 2017
Here's @Scataphagos starting a thread on the bitcoin price crash, but the bear market has not ended
https://www.elitetrader.com/et/thre...itcoin-believers-still-comfy-about-it.288985/
16,000 posts since 2006, how in the hell did you miss the greatest wealth-creation investment in the history of the world???
Maybe because you were too busy putting thousands of posts on ET
From $0 to over $2 Trillion of value created
"In aggregate, hedge funds eked out a return of just over 10% last year, underperforming the S&P 500 index's return of 26.9% as well as the aggregate performance of hedge funds in 2020."
"It's a different story for crypto funds, according to data provided by Hedge Fund Research. The firm's crypto index suggests crypto hedge funds returned, on average, 214% in 2021. Aside from the 2017 boom cycle, that represents the best performance for crypto hedge funds since the firm started tracking this particular subset in 2015. "
https://www.theblockcrypto.com/post...onal-hedge-funds-and-digital-asset-benchmarks
I didn't miss it, I observed it. Cryptos had a useful, to some, beginning as they facilitated internet transactions that might otherwise have run afoul of the law. Once they became a gambling medium, they took on a different character. Cryptos now have something in common with equities in a bull market. They can have wildly excessive valuations that can collapse overnight. Their valuations are somewhat akin to those of the equities issued by new start-ups with no earnings and no profits during the dot com era. At least, however, some of those start-ups had the prospect of future profits and earnings. Any resemblance, however, of crypto currencies to fiat currencies backed by the productivity, taxing power and legal structure of major nations, is purely imaginary. As Donald Trump said: "Tell a lie persistently, and eventually people will believe it." Perception can seem like reality, and in some instances perception can actually become reality, but in the case of cryptos, probably not. Nothing wrong with gambling in cryptos, so long as, 1) you realize you are gambling, not investing, and 2) You don't have a gambling addiction. If you're gambling in cryptos, then at least have the presence of mind to bank your winnings. Whatever you do, don't put any of your original stake back into the slot machine. Once it is gone, it is gone.
On this topic, I happen to side with the UK Regulator, rather then you.
Cryptos are an open, decentralized, global monetary network. Bitcoin is a pristine collateral asset
Stock market is a casino
Let's imagine that you own 1000 shares of Amazon. What can you do with that ownership?
Can you do the following:
- Send 100 shares of Amazon stock to a family member in Turkey, Lebanon, or South Korea
- Get $100K to your bank by the next business day by putting $200K as collateral
- Purchase a house with mortgage 100% backed by your Amazon shares
- Travel to another country and access and utilize the value of your Amazon shares locally
- Purchase McDonalds, Pizza Hut , Starbucks, Computer products or book a hotel or a first class flight with your Amazon shares
- Access the value of your Amazon holdings at midnight on a bank holiday and liquidate your holdings
With Cryptos, all the of the above are possible
- A local bitcoin wallet can send any amount of bitcoin to anywhere in the world
- https://blockfi.com/crypto-loans https://celsius.network/crypto-loans https://ledn.io/en/loans-product
- https://elitetrader.com/et/threads/milo-launches-first-u-s-crypto-mortgage.364281/
- https://coinatmradar.com/countries/
- El Salvador for any of the food places, NewEgg for computer products and https://www.cheapair.com/ for travel
- Bitcoin and cryptos trade 24/7/365
Spend less time posting on ET and actually do some studying of this cryptos financial ecosystem so you don't miss this exciting world
One day, or maybe it has already happened, a grandchild will ask you if you invested in cryptos. Don't be a stubborn old person that refuses to see advances in technology and compare cryptos to a tulip
I failed to invest in tulips in the 16th Century. And I am failing to invest in Crytos now. There is no hope for me. You are wasting you time trying to lead me to the promised land.
It's all good
I've seen your posts on money supply discussion with NoahA so I know you are a financial intellect
I chose certain words that will ring a certain tone to that part of your brain, If you choose to be disingenuous by repeating tulips, that is your choice, but you, sir, lack integrity
Have a good life in your chosen land
Financial ecosystem, payment system, collateral value, transfer of value across space and time all the nuances provided in a list format
This young girl became a millionaire from cryptos and is well versed on the economics of this digital asset space and the video shows the amount of $ values being handled
EDIT: importance of videos is yields (interest income on crypto assets). The whole kit and kaboodle with my first post explaining enhanced returns in the trading markets of cryptos
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You mean income on YT monetization. That's her username?!? Mariah Monetize? Lol, what a joke.
Mariah makes money on youtube but that's not the subject of the video which is "yields on crypto assets deposited on the platforms such as Nexo, Vauld, Celsius Network and others"
Did you watch the video? I don't care if you do or not, but understand what the topic is
She is a (multi) millionaire in $ value of her crypto assets
From one of her videos I remember seeing over a million $ worth of cryptos deposited on the platforms
That does not show her crypto assets that are not deposited on platforms