Is anyone else starting to become a bit worried? mod note in first post

Dohnjoe

Deleted User wrote: »

I would listen to Paddy Losty. He must be a millionaire by now.

When he starts saying it's all going to zero that's one of my buy signals.

Jackben75

cnocbui wrote: »

I am a minnow, and I have plenty of hope, and that is because I ignore musk and the obvious whale action. It's the day traders who have no hope. Sell and buy on your own terms and stop being fear-driven and you have as much chance of gaining as the cetaceans and the elctric liar.

good wise post for a minnow :pac:

Basically, when investing in projects, have a plan, try and set stages for profit, the first being to cash out your initial investment or reinvest it.
Don't invest anything you cannot afford to lose.
Keep up to date on the projects you invest in.
Stick to the plan! Don't let emotions impact you (very difficult at times).

FutureTeashock

That's it, I'm out!:mad: There is clearly no stable long term future for this "currency", and I find the constant yoyoing stressful and frustrating.

One minute I'm browsing Lamborghinis, the next used Nissan Micras. Enough!

These "coins" aren't worth the paper they aren't written on, so ****coin can now slither down the virtual toilet where it belongs.

I made a profit, albeit a small one.:o

Antares35

FutureTeashock wrote: »

That's it, I'm out!:mad: There is clearly no stable long term future for this "currency", and I find the constant yoyoing stressful and frustrating.

One minute I'm browsing Lamborghinis, the next used Nissan Micras. Enough!

These "coins" aren't worth the paper they aren't written on, so ****coin can now slither down the virtual toilet where it belongs.

I made a profit, albeit a small one.:o

I'm thinking the same. Bought into BTC at 25k. It's 35k now so can still escape with a profit! But I keep thinking about the lovely 60k it was at a while ago!

Hodl, if you were in it for the quick buck you left it late to exit, now you are better to hold for the longer term

This game is far less stressful if you play the long game

SortingYouOut

FutureTeashock wrote: »

That's it, I'm out!:mad: There is clearly no stable long term future for this "currency", and I find the constant yoyoing stressful and frustrating.

One minute I'm browsing Lamborghinis, the next used Nissan Micras. Enough!

These "coins" aren't worth the paper they aren't written on, so ****coin can now slither down the virtual toilet where it belongs.

I made a profit, albeit a small one.:o

It's been a few weeks since the drop, were you just expecting a big return quick? I'm holding this for years not weeks. Imagine the feeling looking back in a few years when it's possibly over 100k. I don't have to imagine because I pulled out at 6k last year and I was gutted seeing it hit 50k.

HGVRHKYY

[Deleted User] wrote: »

Hodl, if you were in it for the quick buck you left it late to exit, now you are better to hold for the longer term

Really sad how impatient some people are with all of this

Probes

My tactic is aim for a certain number of coins rather than any usd value, once you get in that mindset there is very little stress involved as dips become a bonus where you can realise your goal that little bit quicker.

Probes

Also, I saw a graphic the other day that seemed to show that anyone who bought and held Bitcoin over 4 years at any point in Bitcoins history has made money.

Probes

Probes wrote: »

My tactic is aim for a certain number of coins rather than any usd value, once you get in that mindset there is very little stress involved as dips become a bonus where you can realise your goal that little bit quicker.

This is a great idea

FFVII

Probes wrote: »

Also, I saw a graphic the other day that seemed to show that anyone who bought and held Bitcoin over 4 years at any point in Bitcoins history has made money.

Wont always be true...maybe.

Donald Trump

SortingYouOut wrote: »

Imagine the feeling looking back in a few years when it's possibly over 100k.

That's a bad attitude for anything to do with your money to be honest. Put your money into it because you think it might hit 100k by all means. Don't put it in only because you fear missing out if it happens.

The correct decision for you today, does not become incorrect because if what subsequently transpires. Conversely, a bad decision today that actually comes through for you by luck does not make it a good decision.

You pulling out at 6k might have been the perfectly correct decision for you based on your circumstances and information you had then. It subsequently going to 50k does not necessarily make that retrospectively wrong.

I'm not even talking about utility. Just general

FutureTeashock

HGVRHKYY wrote: »

Really sad how impatient some people are with all of this

If I were to plonk 500€ into Bitcoin at today's price, and even if hit 1 million per coin, I would only net 15,000.

That is of course a lot of dosh, but I wouldn't be driving around in a Lambo either.

Unless one is willing to risk 5-10 k, I just really see the point.:(

cnocbui

Probes wrote: »

Also, I saw a graphic the other day that seemed to show that anyone who bought and held Bitcoin over 4 years at any point in Bitcoins history has made money.

Taking the long view - HODLing - is hard, it takes discipline.

The whales manipulate. If you look at the distribution of coins and wallets less than 0.34% of wallets contain more than 10 bitcoin.

For whales to make a lot of money, the price has to rise again. If it goes to zero they lose - a lot.

It is in the whales interests for the BTC price to rise again and so it will. They have the funds to make it happen.

People need to stop looking at the daily price and chewing their fingernails in worry. If the price crashes - wait. And for goodness sake don't sell, that's why the whales crashed the price in the first place, so they can get to eat your lunch.

Don't be a krill.

Donald Trump

Donald Trump wrote: »

That's a bad attitude for anything to do with your money to be honest. Put your money into it because you think it might hit 100k by all means. Don't put it in only because you fear missing out if it happens.

The correct decision for you today, does not become incorrect because if what subsequently transpires. Conversely, a bad decision today that actually comes through for you by luck does not make it a good decision.

You pulling out at 6k might have been the perfectly correct decision for you based on your circumstances and information you had then. It subsequently going to 50k does not necessarily make that retrospectively wrong.

I'm not even talking about utility. Just general

I've had awful trouble trying to tell friends that results-oriented-thinking is flawed

FutureTeashock

Perhaps when all 22 million bitcoins are mined, the price will become more stable and thus more useful as a currency?

At the moment it really is pointless apart from as a speculative tool.

Probes

FutureTeashock wrote: »

Perhaps when all 22 million bitcoins are mined, the price will become more stable and thus more useful as a currency?

At the moment it really is pointless apart from as a speculative tool.

Perhaps, I’ve always wondered about the longevity because so many Bitcoin will be lost in the coming decades, how can they ever be reclaimed? At what point does it become so scarce that it’s worth nothing? Is there an estimate of how many are lost per year? Surely as people die more and more will be lost because their wallets will be lost forever.


Edit:
After googling it appears Bitcoin has the potential to be divisible by more than just satoshis.

Donald Trump

Deleted User wrote: »

I've had awful trouble trying to tell friends that results-oriented-thinking is flawed

A lot of addicted gamblers have similar logic

cnocbui

Probes wrote: »

Perhaps, I’ve always wondered about the longevity because so many Bitcoin will be lost in the coming decades, how can they ever be reclaimed? At what point does it become so scarce that it’s worth nothing? Is there an estimate of how many are lost per year? Surely as people die more and more will be lost because their wallets will be lost forever.


Edit:
After googling it appears Bitcoin has the potential to be divisible by more than just satoshis.

People who are smart will pass on their passwords in their wills, their coins won't be lost when they die.

Antares35

cnocbui wrote: »

For whales to make a lot of money, the price has to rise again. If it goes to zero they lose - a lot.

It is in the whales interests for the BTC price to rise again and so it will. They have the funds to make it happen.


Don't be a krill.

Really good point.

AtticusFinch86

Antares35 wrote: »

Really good point.

If you were to take that point to it's logical conclusion then the price would increase exponentially forever. Clearly that's not going to happen.

The only real question is whether we are reaching the top of the market now or is there another bull run or two left to go

Probes

AtticusFinch86 wrote: »

If you were to take that point to it's logical conclusion then the price would increase exponentially forever. Clearly that's not going to happen.

The only real question is whether we are reaching the top of the market now or is there another bull run or two left to go

Why do you think it would have to be exponentional? I mean, the price probably will rise forever when compared with USD simply due to inflation alone, so long as Bitcoin remains relevant. That’s why it’s a hedge against inflation.

HGVRHKYY

FutureTeashock wrote: »

If I were to plonk 500€ into Bitcoin at today's price, and even if hit 1 million per coin, I would only net 15,000.

That is of course a lot of dosh, but I wouldn't be driving around in a Lambo either.

Unless one is willing to risk 5-10 k, I just really see the point.:(

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

SortingYouOut

Donald Trump wrote: »

That's a bad attitude for anything to do with your money to be honest. Put your money into it because you think it might hit 100k by all means. Don't put it in only because you fear missing out if it happens.

The correct decision for you today, does not become incorrect because if what subsequently transpires. Conversely, a bad decision today that actually comes through for you by luck does not make it a good decision.

You pulling out at 6k might have been the perfectly correct decision for you based on your circumstances and information you had then. It subsequently going to 50k does not necessarily make that retrospectively wrong.

I'm not even talking about utility. Just general

I get that but I'm still human and once burnt twice shy. I pulled out last year due to a lack of understanding and also not being able to afford to lose what I had at stake. I can afford to lose it this time around and I'll happily put my skin in the game at risk of losing everything, if it offers a chance at the big money. I'm under no illusions, but I do feel it will make another good run, at least up to where it had been and on further hopefully.

Always be prepared to lose it though.

Donald Trump

SortingYouOut wrote: »

I get that but I'm still human and once burnt twice shy. I pulled out last year due to a lack of understanding and also not being able to afford to lose what I had at stake. I can afford to lose it this time around and I'll happily put my skin in the game at risk of losing everything, if it offers a chance at the big money. I'm under no illusions, but I do feel it will make another good run, at least up to where it had been and on further hopefully.

Always be prepared to lose it though.

It is a subtle difference - doing it because you think it is going there versus doing it because you don't want to miss out if it does! People easily get dragged towards the latter way of thinking and forget to consider whether the former is applicable.



The important points to me in your post are bolded. That tells me you made the right decision last time. It would not have been the correct decision to risk your money if you could not afford to lose it - even if what you bought subsequently rocketed. If you can afford to take that risk on now then that is different. Then you can choose to take it if you want and hopefully get rewarded for doing so.



I never bought and sold cryptocurrency. I am only speaking in general terms. People on here will dismiss what I say because I said that.

Probes

HGVRHKYY wrote: »

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

My missus made 20% on a grand the first month she did crypto and she was disappointed. I had to point out that if she made 20% every month for the next five years then she would be a multimillionaire, it's unsustainable . Sometimes you need to sit back and take in the wider picture.

FutureTeashock

HGVRHKYY wrote: »

I think having the expectation to end up driving around in a Lambo from only €500 would be pretty ridiculous anyway. Even if you 'only' managed to double your money, you don't see the point in that? Most people investing in stocks and index funds are delighted with 8-10% returns in a year lol. Do you invest in anything in general? Pretty baffling to me to not see the point in trying to make good returns even if you don't have a few grand you're comfortable risking

500€ is a very significant amount as it is the unit that purchases a coke and hookers package.

The last few pages have inspired me to reinvest and risk this significant sum on BTC. I won't keep track of the ups and downs over the next few years and just assume it's lost. That is only way to stay emotionally uninvested.

HGVRHKYY

FutureTeashock wrote: »

500€ is a very significant amount as it is the unit that purchases a coke and hookers package.

The last few pages have inspired me to reinvest and risk this significant sum on BTC. I won't keep track of the ups and downs over the next few years and just assume it's lost. That is only way to stay emotionally uninvested.

Lmao. And yeah, what you've said is also the best way to go about it, literally just invest an amount you're comfortable potentially losing or at least won't need for a few years and then forgetting about it - if/when it crashes then you won't really care about it since you've already decided to not touch it for a few years. By 2024/2025 then you might be able to get double the amount of coke and hookers out of the returns

SortingYouOut

Donald Trump wrote: »

It is a subtle difference - doing it because you think it is going there versus doing it because you don't want to miss out if it does! People easily get dragged towards the latter way of thinking and forget to consider whether the former is applicable.



The important points to me in your post are bolded. That tells me you made the right decision last time. It would not have been the correct decision to risk your money if you could not afford to lose it - even if what you bought subsequently rocketed. If you can afford to take that risk on now then that is different. Then you can choose to take it if you want and hopefully get rewarded for doing so.



I never bought and sold cryptocurrency. I am only speaking in general terms. People on here will dismiss what I say because I said that.

I get what you mean, I was responsible when what I had at stake wasn't a loss I could afford. I still regret taking it out though, in hindsight. Obviously at the time I had no way of knowing where it would go and felt there was too much risk there, so I got out. This time around I'm chasing that lost chance and happy to take the gamble. I've also put a fair bit into clear pump and dumps which, I think, have absolutely nothing behind them and they're making me more money than anything (negligible still) but even more of a gamble. The plan is to eventually pull out from them and back into Ethereum and Bitcoin. Knowing my luck I'll take the money out of the next bitcoin to put it into what it replaces. I'll admit it's a bit of a head melt at times but it's a bit of craic to me, but some might make the mistake of putting everything on it.