Are we excited yet?

Dohnjoe

cnocbui wrote: »

Sunken cost fallacy means you believe Bitcoin will never have another bull run; or two or three.

Personally I think it will. Bitcoin is prone to the dramatic and volatile swings.

Many coins have never recovered and years of DCAing has resulted in only a larger loss. There may be many higher bulls or this could be the last big one, no one knows for sure. I do have a point where I would start buying again (and DCAing), but it's certainly not this point.

FFVII

Thargor wrote: »

The user you're posting about was making these posts at levels a lot lower than this going back years, before this forum existed in fact, he was also talking having to move to Portugal back when BTC broke 20k iirc so I doubt he's crying himself to sleep at night, why get so worked up about someone announcing their trades beforehand? Id rather see that than the ridiculous amounts of amazing hindsight trading that goes on in here by certain people after every big move.

Are you mixing up the lad who closed his account? Without naming names.


This is not life changing money for them...moving to portugal it was around 200,000 before current drop in price.

BrandonBay86

SummerK wrote: »

When you say put in to cold storage does that mean moved to a wallet like exodus or ledger?

I have roughly 10,000,000 SATS bough in the last couple of months on Binance & Bitstamp a/c together and both are charging me money to move my coins to a wallet. I thought of selling bit stamp one's and move money to binance and buy again but volatility in price is telling me not to do :P

Yes I use a Trezor but have been looking into Cold Card recently.

How much are they trying to charge you to send funds?

patnor1011

I would not be too concerned to leave few hundred worth of coins in the exchange like binance.

Thargor

FFVII wrote: »

Are you mixing up the lad who closed his account? Without naming names.


This is not life changing money for them...moving to portugal it was around 200,000 before current drop in price.

Im not mixing them up Im referring to them! Thats some long game he's playing for the sake of a bit of trolling if he's bullsh1tting all these years.

Where did you get that figure anyway?

dirk_dangler

pioneerpro wrote: »

Literally the only person who cares is you. Oh, and DirkDangler of the convenient sabbatical

Maybe the pair of you could find a Baller VIP Cigar Lounge elsewhere that better suits your needs. A magic land where the bitter lemon flows freely, the decimal places on your bitcoins are few, and people respect and admire your insights.

Because it sure ain't going to happen here.

I see yet again i am brought up in a conversation here, i am touched that you think about me all the time, i dont think about you at all. You will be delighted to know im doing well despite the price dump of the last month, still in profit and a handsome one at that
You shall be drinking freely of bitter lemon soon enough, ROSE looking better every day and i continue to add to my stack.
Be sure to seek out Dirks bar & grill on the Algarve in a few years, the pioneerpro Limoncello cocktail will be on the house for the regulars here.

Michael_Res1

Well this is my exit strategy. Since nearly half my portfolio is in eth, I believe there is still some significant gains to be had for eth and the flippening will happen this year, albeit for a short term. Plan to get out in stages towards the end of the year.

I will then leave about one third of my portfolio to hodl for the next few years. No qualms saying what these are.

- ksm, which I've already started to crowdloan for 48 weeks
- dot, held on a 10:1 ratio with my ksm and earning 12% yield at the moment
- Celsius

Main reason for hodling celsius is the founder Mashinsky, a fantastic charismatic leader, who I have faith in.

Reason for holding dot/ksm is that it offers a fantastic opportunity to learn about crypto as a whole new eco system will be built out and we are at the very early stages. I've a vested interest so will fuel my appetite to learn more.

pioneerpro

dirk_dangler wrote: »

I see yet again i am brought up in a conversation here, i am touched that you think about me all the time, i dont think about you at all. You will be delighted to know im doing well despite the price dump of the last month, still in profit and a handsome one at that

You shall be drinking freely of bitter lemon soon enough, ROSE looking better every day and i continue to add to my stack.
Be sure to seek out Dirks bar & grill on the Algarve in a few years, the pioneerpro Limoncello cocktail will be on the house for the regulars here.

Dohnjoe

Thargor wrote: »

The user you're posting about was making these posts at levels a lot lower than this going back years, before this forum existed in fact, he was also talking having to move to Portugal back when BTC broke 20k iirc so I doubt he's crying himself to sleep at night, why get so worked up about someone announcing their trades beforehand? Id rather see that than the ridiculous amounts of amazing hindsight trading that goes on in here by certain people after every big move.

I was referring to the new posters who sprang up this bull (that spring up every bull actually) Those with an almost religious style fundamentalism when it comes to crypto. It might go up, it might go down, we don't know. DCA'ing only works if it goes back up, otherwise it can be a dangerous black hole. Have seen friends/colleagues get sucked in (and experienced it myself)

Unearthly

Dohnjoe wrote: »

I was referring to the new posters who sprang up this bull (that spring up every bull actually) Those with an almost religious style fundamentalism when it comes to crypto. It might go up, it might go down, we don't know. DCA'ing only works if it goes back up, otherwise it can be a dangerous black hole. Have seen friends/colleagues get sucked in (and experienced it myself)

That's why I generally stick to bitcoin and Ethereum when the market is dead. I might add cardano as their following is very loyal. Still a risk but the reward/risk is worth it if you have spare money not needed for short term in bank

mdmix

Dohnjoe wrote: »

I was referring to the new posters who sprang up this bull (that spring up every bull actually) Those with an almost religious style fundamentalism when it comes to crypto. It might go up, it might go down, we don't know. DCA'ing only works if it goes back up, otherwise it can be a dangerous black hole. Have seen friends/colleagues get sucked in (and experienced it myself)

I suppose it depends on your risk appetite. I have made the decision not to sell until a certain amount and then dca out. Im willing to accept the risk that I might be wrong, but the potential reward is worth it. Im not overexposed so if I'm wrong, I can wait 4 years for another bull run - or if it never comes, I will accept it and move on. There are periods where I stopped my dca to reduce risk, early February till the end of may for example. I am dcaing again and will continue to do so, even if it goes down until I see strong evidence to stop.

Donald Trump

Dohnjoe wrote: »

I was referring to the new posters who sprang up this bull (that spring up every bull actually) Those with an almost religious style fundamentalism when it comes to crypto. It might go up, it might go down, we don't know. DCA'ing only works if it goes back up, otherwise it can be a dangerous black hole. Have seen friends/colleagues get sucked in (and experienced it myself)

I have a friend who got sucked into the Robinhood gamification thing last year. That and the TSLA hype at the end of 2019.


Her "strategy" which appeared to "work" most of the time was that if it dipped, sure it just meant it was cheaper and she could buy more and then when it went back up she'd make even more because it brought her average cost down.


Then around March 2020 the price fell off a cliff. That meant that it was cheap - right? So buy buy buy. Sell other positions and buy buy TSLA. That is the way to make your money back - right? Then suddenly all your money is concentrated in it.



Robinhood offered 100% margin at a rate of 5%. If you had 10k of a portfolio, you could access 10k margin at the click of a button. So, click the button for handy money. And put that in as well. Because it will mean that you will now break even at a lower rate and make even more when it goes above.



It kept falling and she learned what a margin call was.



Anyway, to cut a long story short, she was extremely extremely lucky that it rebounded just before she was closed out. After putting all her money into it and maxing out all credit elsewhere. As soon as it went back to where she bought it, she cashed out and was very relieved not to have lost literally all her savings and been left with debts to pay off.



Plenty of people will know that what she did was not recommend. But plenty of others won't. This post is not aimed at the former.

pioneerpro

Donald Trump wrote: »

I have a friend who got sucked into the Robinhood gamification thing last year. That and the TSLA hype at the end of 2019.

Translation: My friend thought she saw easy money and got greedy.

Donald Trump wrote: »

she learned what a margin call was.

Your friend took out a 5% loan to gamble on something she didn't understand out of sheer greed. Blaming 'gamification' does not absolve anyone of personal responsibility. Banks were doing the exact same during the boom, 20k at at the click of a button or a quick phone call.

If it wasn't Crypto it would be Timeshares, Property in Sofia, or some sort of social Ponzi scheme. This isn't about cyrpto or 'newbies', this is about degenerates.

Donald Trump wrote: »

Plenty of people will know that what she did was not recommend. But plenty of others won't. This post is not aimed at the former.

People who throw money at things they don't understand out of sheer greed are classified as degenerate gamblers. This is not a story about some unsuspecting investor who got taken for a ride - this is about somebody who absolved themselves of even the most basic fiscal responsibility and then expected sympathy due to the asset class being volatile.

silliussoddius

What makes cryptos more attractive than “regular” currencies?

Donald Trump

pioneerpro wrote: »

Translation: My friend thought she saw easy money and got greedy.



Your friend took out a 5% loan to gamble on something she didn't understand out of sheer greed. Blaming 'gamification' does not absolve anyone of personal responsibility. Banks were doing the exact same during the boom, 20k at at the click of a button or a quick phone call.

If it wasn't Crypto it would be Timeshares, Property in Sofia, or some sort of social Ponzi scheme. This isn't about cyrpto or 'newbies', this is about degenerates.



People who throw money at things they don't understand out of sheer greed are classified as degenerate gamblers. This is not a story about some unsuspecting investor who got taken for a ride - this is about somebody who absolved themselves of even the most basic fiduciary responsibility and then expected sympathy due to the asset class being volatile.

Why are you wasting your time typing that. You can ignore it if you don't like oh genius of all investing. It isn't aimed at you. It is a cautionary tale aimed at encouraging others to think twice before they put all their money into "sure things".


And how do you get to the "sheer greed" classification from what I said? She didn't start with 90% in TSLA nor did she initially have any margin. She was following what she thought was a cost averaging strategy by bringing down the average price...........or as the posters on here often encourage - "buying the dips". Of course, when you do it you are a genius. Because you have whatever biases are in your own head. Then it "works" and you become convinced of your own infallibility and it continues...until it doesn't


And btw, I've read stories or reference to people on here retiring off their "crypto investments". Let's be honest here - if they are retiring off something then they are putting a lot of their assets into it. i.e. a high percentage. Plenty of people here are extolling free money

---

"to the moon" !!!!!!! BTC to definitely be at 100k by the end of the year apparently.


And who the fuck was asking for sympathy?

pioneerpro

Donald Trump wrote: »

ill-lettered ranting

Your friend got caught rotten out of greed. Any further discussion about DCA is irrelevant as she wasn't a rational investor.

And how do you get to the "sheer greed" classification from what I said?

She took a 5% loan to buy stock, without bothering to understand the terms of the loan, chasing a hype stock. The fact that she didn't know what a margin call was prior to taking out margin and getting called is entirely on her - as with any other legal contract.

Donald Trump

pioneerpro wrote: »

Your friend got caught rotten out of greed. Any further discussion about DCA is irrelevant as she wasn't a rational investor.



She took a 5% loan to buy stock, without bothering to understand the terms of the loan, chasing a hype stock. The fact that she didn't know what a margin call was prior to taking out margin and getting called is entirely on her - as with any other legal contract.

Seriously - what is it with the lack of reading comprehension. Plenty posting on here exhibit the same characteristics that she did and that post is simply to remind them to take care. I don't know why you are so insecure about it. You can do what you like,



And sure didn't my friend even "hodl", despite probably not having any Braveheart memes and came out on top in the end. Possibly a true crypto-er at heart even though she doesn't realise it.

cnocbui

Donald Trump wrote: »

Why are you wasting your time typing that. You can ignore it if you don't like oh genius of all investing. It isn't aimed at you. It is a cautionary tale aimed at encouraging others to think twice before they put all their money into "sure things".

And how do you get to the "sheer greed" classification from what I said? She didn't start with 90% in TSLA nor did she initially have any margin. She was following what she thought was a cost averaging strategy by bringing down the average price...........or as the posters on here often encourage - "buying the dips". Of course, when you do it you are a genius. Because you have whatever biases are in your own head. Then it "works" and you become convinced of your own infallibility and it continues...until it doesn't

And btw, I've read stories or reference to people on here retiring off their "crypto investments". Let's be honest here - if they are retiring off something then they are putting a lot of their assets into it. i.e. a high percentage. Plenty of people here are extolling free money

---

"to the moon" !!!!!!! BTC to definitely be at 100k by the end of the year apparently.

And who the fuck was asking for sympathy?

Your 'friend' broke the rule of never investing more than she could afford to lose. And saying someone accidentally got herself into leveraged gambling has to be the stupidest cautionary tale against DCAing imaginable.

I think you are conflating your imagining of retirement stories with people who wish to emigrate, with one of the several identified advantages of doing so being access to a taxation system where the CGT is lower than 33%. Such people, if sensible, likely have investments in other areas.

Even our 12.5 BTC champion (?) wouldn't have enough to retire on, even selling back at the April peak, but side-stepping a 6 figure tax bill would yield a saving enough to fund a decade of sitting in a deckchair, in a warm climate while lithesome young maidens kept him refreshed with the occasional Pina Coladas.

BTC is easily the best performing asset class I have invested in. Nothing wrong with talking about Lambos and the Moon for fun when there are profits of several thousand percent involved. I think you are taking this far too seriously, it's only money, not anything important like health or happiness.

Donald Trump

cnocbui wrote: »

Your 'friend' broke the rule of never investing more than she could afford to lose. And saying someone accidentally got herself into leveraged gambling has to be the stupidest cautionary tale against DCAing imaginable.

I think you are conflating your imagining of retirement stories with people who wish to emigrate, with one of the several identified advantages of doing so being access to a taxation system where the CGT is lower than 33%. Such people, if sensible, likely have investments in other areas.

Even our 12.5 BTC champion (?) wouldn't have enough to retire on, even selling back at the April peak, but side-stepping a 6 figure tax bill would yield a saving enough to fund a decade of sitting in a deckchair, in a warm climate while lithesome young maidens kept him refreshed with the occasional Pina Coladas.

BTC is easily the best performing asset class I have invested in. Nothing wrong with talking about Lambos and the Moon for fun when there are profits of several thousand percent involved. I think you are taking this far too seriously, it's only money, not anything important like health or happiness.

It is simply a cautionary tale for some people. If an individual is an expert (either verified or self appointed) then the original post is not directed at them. If you understand the points that it made, then it is not directed to you. I thought I had made that clear within the post itself. There is no need for anyone to get offended.

It was merely a reminder to beginners not to get carried away. Because it easily happens, especially in a time of panic. Maybe you think it doesn't happen but sure was it not even in the news that the recent plunge caused plenty to be closed out? No? Was I imagining that? So plenty of people are doing that kind of thing. Is it not good to have a cautionary tale to go alongside the "sell your house to invest in bitcoin" voices?

I don't know why some people are so touchy that they think that me posting a general point is attacking them personally and that they are so insecure that they feel the need to go on the attack.


BTW when my friend told me about the app, I told her two simple rules - don't put more into anything with a lot of risk that she could afford to lose and not to put all her eggs in the same basket. That was a couple of months before TSLA crashed. I had also warned her that TSLA was very volatile. I had no analysis of it - just from what I had heard about its price skyrocketing in late 2019.

I'm always blown away at how easy it is get margin. It's so irresponsible. Robinhood or gamification have nothing to do with that. I can get more on degiro. I consider myself lucky to know enough to realise that I don't know enough to be using margin.

Donald Trump

Deleted User wrote: »

I'm always blown away at how easy it is get margin. It's so irresponsible. Robinhood or gamification have nothing to do with that. I can get more on degiro. I consider myself lucky to know enough to realise that I don't know enough to be using margin.

Yeah, it is very irresponsible. In the case of Robinhood, the company is making 5% off a near risk-free investment. They have their close-out terms with enough of a buffer to cover a fair gap risk


Gamification makes it worse though as it brings it to the masses very easily

NomadicGray

Donald Trump wrote: »

Why are you wasting your time typing that. You can ignore it if you don't like oh genius of all investing. It isn't aimed at you. It is a cautionary tale aimed at encouraging others to think twice before they put all their money into "sure things".


And how do you get to the "sheer greed" classification from what I said? She didn't start with 90% in TSLA nor did she initially have any margin. She was following what she thought was a cost averaging strategy by bringing down the average price...........or as the posters on here often encourage - "buying the dips". Of course, when you do it you are a genius. Because you have whatever biases are in your own head. Then it "works" and you become convinced of your own infallibility and it continues...until it doesn't


And btw, I've read stories or reference to people on here retiring off their "crypto investments". Let's be honest here - if they are retiring off something then they are putting a lot of their assets into it. i.e. a high percentage. Plenty of people here are extolling free money

---

"to the moon" !!!!!!! BTC to definitely be at 100k by the end of the year apparently.


And who the fuck was asking for sympathy?

You really aren't cut out for it bud, you know very little of what you speak and get upset so easily. Take a breath and waddle off

Donald Trump

NomadicGray wrote: »

You really aren't cut out for it bud, you know very little of what you speak and get upset so easily. Take a breath and waddle off

You might be right dude. Wouldn't have the same experience and qualifications as yourself likely.



What area of financial markets do you work?

pioneerpro

Donald Trump wrote: »

What area of financial markets do you work?

Any chance you'd throw in a Hitler comparison somewhere? I've almost a full house playing Genetic Fallacy Bingo here today

https://en.wikipedia.org/wiki/Genetic_fallacy

Donald Trump

pioneerpro wrote: »

Any chance you'd throw in a Hitler comparison somewhere? I've almost a full house playing Genetic Fallacy Bingo here today

https://en.wikipedia.org/wiki/Genetic_fallacy

So what area of financial markets or investments do you work in yourself? I was only asking the poster a simple question. Nothing wrong with that. It is entirely relevant to the topic


If you are going to be coming on here criticising other people on an anonymous message board, then put your cards on the table? Surely if one has a lot of knowledge and experience in an area then they would be working in that area, or have worked in it in the past and retired from it after making their money?


I think you either didn't read your own link or else couldn't understand it btw.

pioneerpro

Donald Trump wrote: »

If you are going to be coming on here criticising other people on an anonymous message board, then put your cards on the table?

Every post I've made today outside of this thread and in the last few months has been in Share Picks or similar threads in Investments and Markets. Picks, DD, my entry points and sell prices on certain stocks, redacted pictures of my port - the whole shebang.

In short, jump into my post history and fill your boots son

I'm here for the memes and the crypto discussion, not rolling around in the mud with single-agenda windbags.

Donald Trump

pioneerpro wrote: »

Every post I've made today outside of this thread and in the last few months has been in Share Picks or similar threads in Investments and Markets. Picks, DD, my entry points and sell prices on certain stocks, redacted pictures of my port - the whole shebang.

In short, jump into my post history and fill your boots son

I'm here for the memes and the crypto discussion, not rolling around in the mud with single-agenda windbags.

Strange then that you would be so insecure as to so virulently object against me giving a cautionary tale to anyone who is starting off investing in general.

It wasn't even mentioning you or quoting you. It was an addendum to another posters post which I broadly agreed with.



What is my agenda so? If there is a lot of hot air, it ain't coming from me :pac:



We had the posters a few pages back embarrassingly convinced that a Trinity Professor who was writing books on electronic payments systems 20 years ago, and who has been researching blockchain and associated technologies for about a decade, as "clueless".


Why so touchy? What was it about that cautionary tale that caused you to react so?

pioneerpro

Donald Trump wrote: »

rambling intensifies

Donald Trump

pioneerpro wrote: »

Ah memes. Last resort of the person with nothing to add or say :pac:




Plenty of hot air but not much substance when called out

FFVII

https://www.coindesk.com/bitcoins-rich-list-continues-to-snap-up-cheap-coins

Ive usually no idea what this guy is saying. I find him great.

Whales buying up everything.