abenjami Posted July 25, 2021 Report Share Posted July 25, 2021 14 hours ago, pat said: I know my $0.50 of BTC turned into $200, that's an insane swing of demand. I know that none of my contractors want checks because clearing is too slow. I know that in my life I've watch tech shoot out horizontally with frightening speed. So will BTC go to $16 million? I doubt it. But then again, I never would have imagined that GOOG would go to $2756 either. What I know is I've made a big enough bet to for 2x to be nice to see, 10x to be very good, and 50x to be life changing. Maybe we'll never see 400x again, but that's fine by me If we do hit 50x it's all going into total stock market of course. This is one big reason why when I put some money into crypto, I didn't buy a lot of BTC. Guys like you and me have already missed the exponential gains on BTC. Buying it now could be like buying Cisco stock in 2009. It's why I put most of my crypto allocation into ETH and ADA. Those are two cryptos I think could see exponential gains because of how they differ from BTC. Link to post Share on other sites More sharing options...
titanruss Posted July 25, 2021 Report Share Posted July 25, 2021 1 hour ago, Jamalisms said: Then you're beginning to see what I'm trying to mirror and mock. Oh my such genius. Such courage. You being the first and all to mock something you don't like or understand. Wow.. so much edge! Link to post Share on other sites More sharing options...
OILERMAN Posted July 25, 2021 Report Share Posted July 25, 2021 7 hours ago, abenjami said: This is one big reason why when I put some money into crypto That's why 99% put money into crypto, they saw the insane gains and didn't want to miss out. Fear Of Missing Out. Jamalisms, and abenjami 2 Link to post Share on other sites More sharing options...
OILERMAN Posted July 25, 2021 Report Share Posted July 25, 2021 22 hours ago, pat said: I know my $0.50 of BTC turned into $200, that's an insane swing of demand. I know that none of my contractors want checks because clearing is too slow. Exactly, it's an "insane swing of demand". Gee I wonder if that's going to keep happening? I really don't wonder that And you're never paying a contractor or anyone else in BTC in all likelihood. Yes technology will change how people are paid etc.... but there is a better chance it won't involve any of the current cryptos abenjami 1 Link to post Share on other sites More sharing options...
pat Posted July 25, 2021 Report Share Posted July 25, 2021 2 minutes ago, OILERMAN said: Exactly, it's an "insane swing of demand". Gee I wonder if that's going to keep happening? I really don't wonder that And you're never paying a contractor or anyone else in BTC in all likelihood. Yes technology will change how people are paid etc.... but there is a better chance it won't involve any of the current cryptos That it gets harder to move money around does increase the likelihood of crypto of some kind taking off. BTC benefits from any swing towards crypto. Link to post Share on other sites More sharing options...
OILERMAN Posted July 25, 2021 Report Share Posted July 25, 2021 42 minutes ago, pat said: BTC benefits from any swing towards crypto. I disagree. If the governments start issuing their own regulated form of crypto that has to be used for money transactions then all these cryptos would be crippled overnight Link to post Share on other sites More sharing options...
pat Posted July 25, 2021 Report Share Posted July 25, 2021 8 minutes ago, OILERMAN said: I disagree. If the governments start issuing their own regulated form of crypto that has to be used for money transactions then all these cryptos would be crippled overnight There's lots of ways a digital dollar could go wrong. A digital dollar could be in secure. It could open up too much surveillance. It could allow arbitrary seizure. I don't know that it's as vulnerable as you say. Even if it gets outright banned, it could play out very different than the government hopes. titanruss 1 Link to post Share on other sites More sharing options...
OILERMAN Posted July 25, 2021 Report Share Posted July 25, 2021 22 minutes ago, pat said: There's lots of ways a digital dollar could go wrong. A digital dollar could be in secure. It could open up too much surveillance. It could allow arbitrary seizure. I don't know that it's as vulnerable as you say. Even if it gets outright banned, it could play out very different than the government hopes. Well these are worst case scenarios A more immediate and realistic scenario is the gains are over, meaningful gains that is Link to post Share on other sites More sharing options...
pat Posted July 25, 2021 Report Share Posted July 25, 2021 16 minutes ago, OILERMAN said: Well these are worst case scenarios A more immediate and realistic scenario is the gains are over, meaningful gains that is Which is why my allocation is less than 1%. I was reading that 1-2% was the allocation wealth managers were taking, so I'm right on target. The problem with the FOMO argument is it cuts both ways. It's an emotional argument for, and an emotional argument against. My pro BTC argument boils down to the fact that people value digital commodities all the time, and there's plenty of wealth currently tucked into commodities to blow up the market. My worst case is losing 1%, a more realistic poor case is that I only get my money back. A realistic good case is I make modest gains, and best case is life changing wealth. I don't make many bets with my money but as a software engineer I'm comfortable with this one. OILERMAN 1 Link to post Share on other sites More sharing options...
OILERMAN Posted July 25, 2021 Report Share Posted July 25, 2021 11 minutes ago, pat said: Which is why my allocation is less than 1%. I was reading that 1-2% was the allocation wealth managers were taking, so I'm right on target. The problem with the FOMO argument is it cuts both ways. It's an emotional argument for, and an emotional argument against. My pro BTC argument boils down to the fact that people value digital commodities all the time, and there's plenty of wealth currently tucked into commodities to blow up the market. My worst case is losing 1%, a more realistic poor case is that I only get my money back. A realistic good case is I make modest gains, and best case is life changing wealth. I don't make many bets with my money but as a software engineer I'm comfortable with this one. Seems like a more than reasonable strategy Link to post Share on other sites More sharing options...
titanruss Posted July 25, 2021 Report Share Posted July 25, 2021 (edited) 1 hour ago, pat said: Which is why my allocation is less than 1%. I was reading that 1-2% was the allocation wealth managers were taking, so I'm right on target. The problem with the FOMO argument is it cuts both ways. It's an emotional argument for, and an emotional argument against. My pro BTC argument boils down to the fact that people value digital commodities all the time, and there's plenty of wealth currently tucked into commodities to blow up the market. My worst case is losing 1%, a more realistic poor case is that I only get my money back. A realistic good case is I make modest gains, and best case is life changing wealth. I don't make many bets with my money but as a software engineer I'm comfortable with this one. They are averaging closer to 5% and it's getting bigger the younger they are Edited July 25, 2021 by titanruss Link to post Share on other sites More sharing options...
abenjami Posted July 25, 2021 Report Share Posted July 25, 2021 5 hours ago, OILERMAN said: That's why 99% put money into crypto, they saw the insane gains and didn't want to miss out. Fear Of Missing Out. I agree. For me it wasn't FOMO. Like I said, I believe I was too late on BTC to see the insane gains. I'm not in fear of missing out on the next crypto that explodes but I'm happy to speculate which one(s) it might be. The risk/reward makes sense. Link to post Share on other sites More sharing options...
titanruss Posted July 26, 2021 Report Share Posted July 26, 2021 Technically investing in anything at all is really because of FOMO... stocks , anything. but you get Meme'd for it when you've done limited if any research and you hit it at a high point or on the way down. same story holds true though. Even if you buy at the peak.. just hold long enough and you start making money on it. Link to post Share on other sites More sharing options...
OILERMAN Posted July 26, 2021 Report Share Posted July 26, 2021 1 minute ago, titanruss said: Technically investing in anything at all is really because of FOMO... stocks , anything. This is totally false. No one is investing in the total market/S&P 500 index because they are afraid they are going to miss out. The gains are slow, boring and steady. People aren't taking their stimulus check and buying a bond fund because they are afraid they are missing out. They most definitely are doing that with BTC or Dogecoin etc.... I saw where the majority of single investors bought BTC when it was over 40k. They did so because they wanted to get rich like they heard other people were doing. I work with and know people who bought crypto who know next to nothing aside from the fact it has shot up so much over the last few years. Jamalisms 1 Link to post Share on other sites More sharing options...
BobbyCoins Posted July 26, 2021 Report Share Posted July 26, 2021 BTC zeroing in on 38k, on its way back up to 40k. Link to post Share on other sites More sharing options...
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