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Author Topic: So, Who Is Buying Into Crypto?  (Read 19262 times)

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Offline cufflinks

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Re: So, Who Is Buying Into Crypto?
« Reply #125 on: May 23, 2021, 10:22:13 PM »
Gentlemen Exciting BTC and ETH News...

Fun week this week both BTC and ETH Completed a .618 Fibonacci retrace of the now Primary Wave 1 Swing Highs to the now Primary Wave 2 Swing low both bottom turning into an exciting Primary Impulsing Wave 3 UP.  So I cleaned up the Charts and set the new Fibonacci extension tools from the Primary wave 1 Start with BTC at 10K to the Primary Wave 1 High to 65K to Primary Wave 2 Swing low at 30K and ETH Start of Primary wave 1 at 100 to the Primary Wave 1 Swing High of 4,384 to Primary Wave 2 Swing low of 1,728.

Bottom line this is a great entry point for both BTC and ETH and any of the Alts that track BTC like LTC, BCH etc.

The Primary Wave 3 most probable Fibonacci Extension target is 1.618 in Bold.

BTC Fibonacci Extension Targets:

4.236   288,600
3.618   250,800
2.618  189,800
1.618  128,700
1.0        91,000
.786      78,000
.618      67,700
.5          60,500
ila_rendered

ETH Fibonacci Extension Targets:

4.236   19,789
3.618   17,154
2.618   12,890
1.618    8,626
1.0        5,991
.786      5,079
.618      4,362
.5          3,859
ila_rendered

Online andrewfi

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Re: So, Who Is Buying Into Crypto?
« Reply #126 on: May 25, 2021, 07:20:45 AM »
This past week has been a bit doomy!

I bought more crypto on the way down but didn't get in as low as I could've done - but not far off, assuming that we're around the bottom. I thought about moving to cash but didn't. That may have been a mistake in terms of rebuying at a better price, however, given my plan to hold for the foreseeable future, it seemed less stressful to just let it be.

I fully expect the prices to rise to new heights in the near future and, when all is said and done, I am sitting on a very nice profit even at the current levels. The problem with liquidating is the temptation to spend the cash on toys, wine, women and song meaning that a planned reinvestment might only take place with a smaller pot. Of course, that's my own shortcoming and many others have greater self-control than I do. :)

As for China, I have a suspicion that the story is not quite what is being claimed.
Back in April the Chinese government made it clear that they were not happy about the energy consumption profile of Bitcoin mining - here's an article on the topic: https://www.theguardian.com/technology/2021/apr/07/china-bitcoin-mining-climate-targets-nature-study

Don't forget that, in China, Bitcoin (crypto) trading is illegal and has been since 2019: https://www.investopedia.com/news/bitcoin-banned-china/

So, I see the current developments having 2 components. China wants to be able to control and regulate crypto use to avoid the dangers to the economy of a parallel banking/currency system. That was the motivation for the actions against Ant and other companies last year. The second issue is that of emissions controls because unless crypto mining is carried out more efficiently than at present, China will be unable to meet its 2030 emissions targets. 

The Ant Group situation was interesting because they and a couple of other countries controlled a huge proportion of payments in the country using systems that were outside of the normal banking system. Their lending products and services, at that level of business, posed a threat to the stability of the currency as these companies were, in essence, creating new money (fractional banking again!) so the imposition of controls was going to be necessary.

Emissions concerns are not solely a concern of China, as we know, Elon Musk made statements about his concerns a few weeks ago that seemed to cause the market in crypto to peak and turn. I expect that miners, most of whom are in China, will quickly find ways to engage with the authorities and alter their power use profile.

Overall, I think that China will find a way to enable mining to take place again. That's because they see a benefit in the use of cryptocurrencies outside of China for exactly the reasons they sought to control it within the country. :)
...everything ends always well; if it’s still bad, then it’s not the end!

Offline cufflinks

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Re: So, Who Is Buying Into Crypto?
« Reply #127 on: May 25, 2021, 04:07:47 PM »
Andrew Good on You for not panicking and going to cash when we are merely rounding the bottom of the Primary Wave 2 and about to ride Primary Wave 3 up to the Target BTC and ETH 1.618 Most Probable impulsing Wave 3 UP in BTC, ETH, LTC and all the cryptos that track BTC and now ETH.   This will be quite a profitable ride up towards the Fall and Year's End.

FYI - My NFTs Collections Press Release Got Picked up by 90+ Media Outlets today so to help Promote this Social and Media validation - I will be paying 5% on any referrals of Buyers of any of the NFTs in all 3 Collections - Reach out to a few Crypto influencers and then just Google/Duck Duck Go  "Maxxton NFT Collections" and these links likely to pop up as I used SJW Psychology on the Media to Help Suffering Artists recover from the pandemic which happens to be true which does not hurt!

https://www.marketwatch.com/press-release/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-2021-05-25

https://www.thestreet.com/press-releases/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-15664969

https://finance.yahoo.com/news/rare-maxxton-nft-collections-created-123800158.html

https://www.prnewswire.com/news-releases/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-301297969.html

https://www.wfmz.com/news/pr_newswire/pr_newswire_entertainment/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic/article_135f2c15-b3f2-52d4-9928-552263bb40c6.html

And many others according to the PRNewswire PDF Visibility Report this evening - now that is serious Social and Media Proof to leverage here to earn some free ETH before in MOONS on the third primary fractal wave up to the 1.618 Fibonacci Extension target of $8,600 USD illustrated above.

OBTW the ads to the right are very Big on Mammaries today...

Life is Good!

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Offline Contrarian

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Re: So, Who Is Buying Into Crypto?
« Reply #128 on: May 25, 2021, 05:17:04 PM »
Andrew Good on You for not panicking and going to cash when we are merely rounding the bottom of the Primary Wave 2 and about to ride Primary Wave 3 up to the Target BTC and ETH 1.618 Most Probable impulsing Wave 3 UP in BTC, ETH, LTC and all the cryptos that track BTC and now ETH.   This will be quite a profitable ride up towards the Fall and Year's End.

FYI - My NFTs Collections Press Release Got Picked up by 90+ Media Outlets today so to help Promote this Social and Media validation - I will be paying 5% on any referrals of Buyers of any of the NFTs in all 3 Collections - Reach out to a few Crypto influencers and then just Google/Duck Duck Go  "Maxxton NFT Collections" and these links likely to pop up as I used SJW Psychology on the Media to Help Suffering Artists recover from the pandemic which happens to be true which does not hurt!

https://www.marketwatch.com/press-release/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-2021-05-25

https://www.thestreet.com/press-releases/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-15664969

https://finance.yahoo.com/news/rare-maxxton-nft-collections-created-123800158.html

https://www.prnewswire.com/news-releases/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-301297969.html

https://www.wfmz.com/news/pr_newswire/pr_newswire_entertainment/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic/article_135f2c15-b3f2-52d4-9928-552263bb40c6.html

And many others according to the PRNewswire PDF Visibility Report this evening - now that is serious Social and Media Proof to leverage here to earn some free ETH before in MOONS on the third primary fractal wave up to the 1.618 Fibonacci Extension target of $8,600 USD illustrated above.

OBTW the ads to the right are very Big on Mammaries today...

Life is Good!

###

Cuffy are you Maxton? You can tell me in a PM if you want.

I liked the one which is titled: Breakdancing in the Rain. Very colorful and good action!

Online andrewfi

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Re: So, Who Is Buying Into Crypto?
« Reply #129 on: May 26, 2021, 05:10:46 AM »
Cufflinks, my instinct was to go to cash early on. I had identified that the market was turning but slept on it. The next day things were down to a degree that I felt liquidating would not give me much benefit. I was wrong about that.

I did rebalance my holdings which did pay off as it had before as it reduced my portfolio loss and then I put in a bit more money.

I can see that a lot of people sold up after I decided not to do so. I just remember the adage that one does not make a profit or a loss until one sells. So, buying on the way down will result in a greater increase in portfolio value as I will be holding more of the asset in the upturn and that will look like a bit of a bargain in a month or two.

Overall, holding on to an asset that one believes to be a strong one is a much less stressful way to go than trying to outguess the market on a moment by moment basis. I am sure that over time I will be looking at assets that will make my retirement much more prosperous. That does not stop me from being envious of those who successfully trade their assets and increase them. But I also know that most people who try it end up losing out.

...everything ends always well; if it’s still bad, then it’s not the end!

Offline cufflinks

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Re: So, Who Is Buying Into Crypto?
« Reply #130 on: May 26, 2021, 03:24:33 PM »
Andrew Good on You for not panicking and going to cash when we are merely rounding the bottom of the Primary Wave 2 and about to ride Primary Wave 3 up to the Target BTC and ETH 1.618 Most Probable impulsing Wave 3 UP in BTC, ETH, LTC and all the cryptos that track BTC and now ETH.   This will be quite a profitable ride up towards the Fall and Year's End.

FYI - My NFTs Collections Press Release Got Picked up by 90+ Media Outlets today so to help Promote this Social and Media validation - I will be paying 5% on any referrals of Buyers of any of the NFTs in all 3 Collections - Reach out to a few Crypto influencers and then just Google/Duck Duck Go  "Maxxton NFT Collections" and these links likely to pop up as I used SJW Psychology on the Media to Help Suffering Artists recover from the pandemic which happens to be true which does not hurt!

https://www.marketwatch.com/press-release/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-2021-05-25

https://www.thestreet.com/press-releases/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-15664969

https://finance.yahoo.com/news/rare-maxxton-nft-collections-created-123800158.html

https://www.prnewswire.com/news-releases/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic-301297969.html

https://www.wfmz.com/news/pr_newswire/pr_newswire_entertainment/rare-maxxton-nft-collections-created-to-help-suffering-artists-recover-from-the-pandemic/article_135f2c15-b3f2-52d4-9928-552263bb40c6.html

And many others according to the PRNewswire PDF Visibility Report this evening - now that is serious Social and Media Proof to leverage here to earn some free ETH before in MOONS on the third primary fractal wave up to the 1.618 Fibonacci Extension target of $8,600 USD illustrated above.

OBTW the ads to the right are very Big on Mammaries today...

Life is Good!

###

Cuffy are you Maxton? You can tell me in a PM if you want.

I liked the one which is titled: Breakdancing in the Rain. Very colorful and good action!

Short answer is Yes - whenever one embarks on a new project one needs to be mindful that "Success is Secrecy and Secrecy is Success".  Thus a new Persona to insure one is not personally Doxed by resentful competitors.  Anecdotally when a former SEC chairman was asked why they never took action against Bitcoin violating the Howie Test of raising capital without registering their "securities" with the SEC he quipped because we could never find Satoshi Nakamoto!

"Breakdancing in The Rain" was a recent NFT addition the day before the Press Releases.  This is one of my favorites - the use of Surf Waves for the Ladies Hair was innovative and stunning:

https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/85595997166407841645828860814494805949950872826908421218507316029469359079425

My 5% referral offer is a solid way to earn some free ETH.  Just install the Brave browser with the Metamask ETH wallet extension and I will send ETH referral bonus direct to your wallet - my secure protonmail email is in the contact info at the bottom of the Press Releases to inform me who you referred - if they Buy any NFTs you earn 5% in free ETH.

Offline cufflinks

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Re: So, Who Is Buying Into Crypto?
« Reply #131 on: May 27, 2021, 06:19:18 PM »
Just learned that eReleases uses a Craigslist style anonymized email in the Press Releases to filter spam so PM me for my direct Maxxton email on the secured protonmail.com platform.

Offline BillyB

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Re: So, Who Is Buying Into Crypto?
« Reply #132 on: June 07, 2021, 07:24:45 PM »

Hackers demanded Bitcoin as ransom for the pipeline they shut down. Today the FBI announced it recovered millions. Seems like a government agency could easily get their hands on cryptocurrency if they really wanted to.
Over 220 generals and admirals say we are in a fight for our survival like no other time since 1776. If you want to stop the war in Ukraine, fix elections, stop medical tyranny and forced vaccinations, lower inflation and make America and the world a better place, get Trump back into power. The Democrats and Republicans have shown they can't do the job. They are good at robbing us and getting people killed in non stop wars.

Offline BillyB

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Re: So, Who Is Buying Into Crypto?
« Reply #133 on: June 08, 2021, 10:33:02 AM »

Article and video explains how they got the money back. Criminals may think twice about using cyrptocurrency won't lead authorities back to them. This also means corrupt governments could go in and seize all your cryptocurrency.

https://www.msn.com/en-us/news/us/u-s-recovers-2-3-million-in-ransom-paid-to-colonial-pipeline-hackers/ar-AAKNRf7?ocid=msedgntp
Over 220 generals and admirals say we are in a fight for our survival like no other time since 1776. If you want to stop the war in Ukraine, fix elections, stop medical tyranny and forced vaccinations, lower inflation and make America and the world a better place, get Trump back into power. The Democrats and Republicans have shown they can't do the job. They are good at robbing us and getting people killed in non stop wars.

Offline Texan77

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Re: So, Who Is Buying Into Crypto?
« Reply #134 on: June 09, 2021, 08:39:51 PM »
El Salvador adopts Bitcoin. First country to use Bit coin as a currency.

3) There has been no "threat" to invade Ukraine. The US invented that and fed it to a complicit media.

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Re: So, Who Is Buying Into Crypto?
« Reply #135 on: June 10, 2021, 06:16:57 AM »
This will be interesting to watch. I suspect it will become the norm.


At the same time I wondered what if a nation say in Africa or Central America, shifted (transferred) all its transactions and based its economy on Crypto. What would happen in this country?



El Salvador adopts Bitcoin. First country to use Bit coin as a currency.


“If you aren't in over your head, how do you know how tall you are?” T.S. Eliot

Online andrewfi

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Re: So, Who Is Buying Into Crypto?
« Reply #136 on: June 10, 2021, 10:01:00 AM »
Billy, the money recovered was not recovered due to any great skill on the part of LE. The criminals had been stupid. They had not moved the crypto to a private wallet.

The service providers were more sensible which is why their cut of the proceeds remains unaccounted for.

If you leave your crypto on a public exchange then it's as accessible as if it was dollars deposited in a US checking account.

Avhdb, I have been expecting this for years and have suggested it on this forum
The interesting twist is that not only has El Salvador done this but is also offering the infrastructure for mining using energy derived from geothermal power. That'll get a few mining outfits on the move from China and elsewhere. So, not only will El Salvador make their financing easier they'll also be increasing economic output and thus GDP.
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Offline Contrarian

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Re: So, Who Is Buying Into Crypto?
« Reply #137 on: June 11, 2021, 08:43:42 AM »
In an interview with Mark Cuban, owner of the Dallas Mavericks and also featured on the popular TV show Shark Tank:

Quote

"Will we start seeing more crypto or NFT-related companies on Shark Tank?

I hope so. Because I know that I’m always asking companies questions about how they deal with those things. Do they take crypto? Do they take Dogecoin, like we do with the Mavs? How do they invest their money? If they have capital, would they be willing to buy USDC stablecoins and invest that in DeFi and make 10-12 percent on their money as opposed to 0.2 percent in a bank account? How are they going to take their digital assets and turn them into NFTs? If they’re a textbook company, for example, wouldn’t it be better to sell a textbook as an NFT because the marketplace after the kid’s done with a class is more efficient, effective, and profitable?"


https://www.thedailybeast.com/mark-cuban-on-the-future-of-the-mavs-taxing-billionaires-and-why-elon-musk-is-irrelevant-to-crypto?ref=scroll

Offline cufflinks

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Re: So, Who Is Buying Into Crypto?
« Reply #138 on: June 12, 2021, 03:23:51 PM »

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Time For Cardano - A Toe Dipped Into The Water
« Reply #139 on: August 20, 2021, 03:01:19 AM »
I have been holding a mix of crypto, several are teeny tiny holdings, more like placeholders so that they pop up on my screen enabling me to remember to track them. Three coins - Bitcoin, Ethereum and Litecoin I have been buying and holding in more serious amounts for quite some time. I hold them because I could see that they had good reason to exist, they were clearly not scam coins. Sadly, Litecoin has not been living up to its promise, at least in my opinion.

Cardano (Ava) has been trying to grab my attention for a couple of months. I held back as I had not researched the platform or the coin. I think that was a mistake that has cost me a lot of potential profit. A few days ago I decided to move some Litecoin over to Ava (the Cardano token). I ended up buying after it had broken $2 per coin but so far it has comfortably outperformed the other three coins.

I might start adding new cash into Cardano - in fact, I definitely will. If nothing else it will give some diversification.

Is anyone else holding or staking Ava? Any opinions?
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Re: So, Who Is Buying Into Crypto?
« Reply #140 on: October 04, 2021, 03:15:48 PM »
Their maybe a bigger connection to crypto that most of us understand. Tether is over half backed by commercial paper rated AA or better. But tether will not give anybody any info on whose paper that it really is other than they will admit it is international.  The speculation is that this paper maybe Chinese relating to property development. Several analysts are recommending staying from the coin. 


3) There has been no "threat" to invade Ukraine. The US invented that and fed it to a complicit media.

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Re: So, Who Is Buying Into Crypto?
« Reply #141 on: October 06, 2021, 02:06:59 AM »
Cufflinks, how are your NFTs doing?

In other news, as well as my regular weekly investments I have been dropping in some lump sums. All into Bitcoin which appears to be paying off. The idea is to drop in spare cash (not rich so no huge amounts). When I want to spend the cash, I will just withdraw it or spend on my Coinbase card. By doing this I expect that over time my holdings will grow.

Of course, on a day to day basis, we're not talking huge amounts but even during a quiet period I'm seeing around 5% growth per month. Given that I get nothing from money in my bank account this seems worthwhile.

Also, I recently converted my Ether to Ethereum 2.0 to earn a return on my holdings. That's currently getting about 5% per year in Ether terms. Of course, as Ether increases in price against the dollar, the dollar returns are significantly better. Ether staking does not compound though as returns are not paid out until Ethereum 2.0 is launched.

I didn't drop into staking Ada (Cardano) yet but again that's about 5% annual return. However, unlike Ethereum 2.0 staking, Ada compounds every few days so real returns should be much better, plus of course, extra returns in dollar terms as the currency appreciates against the dollar.

It looks as though Brasil will be following a similar path to El Salvador, probably before the end of the year. Tjats going to have a nice effect on the price of Bitcoin.

Apparently, there are now more people in El Salvador using Bitcoin than people using banks. That's quite a big thing as it demonstrates a use case for crypto that's been talked about but not, to my knowledge, demonstrated: reaching out to the unbanked with low cost/free bank like services.

Families who rely upon remittances should by now be feeling significantly better off as current remittance services become disaggregated.
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Online andrewfi

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Re: So, Who Is Buying Into Crypto?
« Reply #142 on: October 20, 2021, 10:42:42 AM »
Well today was the day! We knew it was coming. The pressure had been building for months and today it popped.

Bitcoin hit a new all time high today. Ethereum will probably do so before I go to bed.

I had been loading up steadily but cautiously over the past few weeks.

Money is being made by the hodlers right now. Some are clearly selling up and taking profits but from what I've seen sellers are in short supply.

I was talking with a friend at the weekend about how having a supply of fun money can change one's outlook on life and crypto has definitely done that for me.

Coincidentally I was about to drop some money on a B&O speaker system today. When I saw what was happening this morning, before the horses started running, I thought it might be worth postponing that purchase to increase the capital in play.

For weeks there's been all sorts of speculation about what prices we'd see on crypto in the next few months. If things run as they did in previous runs then I can see a very merry Christmas for me and a few other folks. I see sunshine, warm beaches and hot company on the horizon.

Now comes a new problem. How to plan an exit strategy. Not a complete withdrawal, but perhaps some profit taking and planning for an inevitable pullback. I'm now at a level that I never expected back in winter 2017 and it's serious money. This is uncharted territory.

Is anyone else riding in this race?
How's it feeling?

...everything ends always well; if it’s still bad, then it’s not the end!

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Re: So, Who Is Buying Into Crypto?
« Reply #143 on: October 20, 2021, 11:38:11 PM »
andrew did you keep all your bitcoin during the big dip this year? it fell close to 50% in summer before the huge rally.

Way too volatile for me.  I'd sell a good chunk and take the profits before who knows what happens.

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Re: So, Who Is Buying Into Crypto?
« Reply #144 on: October 21, 2021, 12:44:50 AM »
Yup, I started buying in autumn 2017 and apart from occasional treats from profits I've held ever since. Been DCA since 2020.

Only idiots sell into a falling market - that's fear and lack of knowledge. It's also why most people need a financial adviser - somebody to stop them from selling at silly times.

Its not as volatile as you think and to be sensible, what do short term price changes matter compared to long term large returns? That's just an excuse for fear.

I don't 'do' trading, but even I know that price movement enables profit.

...everything ends always well; if it’s still bad, then it’s not the end!

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Re: So, Who Is Buying Into Crypto?
« Reply #145 on: October 21, 2021, 04:12:14 AM »
I liken it to a tech or growth stock, big swings up and down.  Like Tesla which has soared and then dropped a bit.  i'll play around with some of these stocks but never put more than 10% of my portfolio into one.

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Re: So, Who Is Buying Into Crypto?
« Reply #146 on: October 21, 2021, 04:24:21 AM »
Well, when I started out, my investment was a bit less than 10%. Appreciation means that it is now over 50%. And yes, I have added some to that, but my cash investment is still around 10% of my total.

Sometimes it pays to take a longer view and to learn what the asset is all about.

If I had stuck to a 10% ratio it would've been akin to taking money and setting it on fire. I am not quite so wealthy.

That said, it has performed much better than I expected.

No, it isn't like a tech stock. And don't forget the volatility that you mention is a function of time. What's your time horizon? Mine, so far, has been over four years. Here's a page with a chart that shows the performance of BTC since 2017. You can choose an asset with lower short term price fluctuations, but I doubt you could buy one with greater long term upward price movement.
https://www.upmyinterest.com/comp?ast1=Bitcoin&ast2=VOO&ast3=TLT

Bitcoin is not the only crypto I hold. Each one I hold has a purpose and was chosen because in my understanding each had a value and purpose. Of course at the outset, both attributes were more potential than real. Time has shown that I made good choices, however, we are only starting the adoption curve.

One rather cool idea is that there are only ever going to be 21million Bitcoins. Only a maximum of 21,000,000 people can ever have a whole Bitcoin. Of course, the reality is that far, far fewer than that can ever have one. I kinda like the idea that I am already one of those people.

I am not saying that you should buy into crypto. That's for you to choose. If short term price fluctuations are a problem for you then don't do it. If you understand the assets and their purpose and can afford to make a long(ish) term investment then maybe you should - but that's clearly not you (Guile).

While I have been in profit over almost the entire run of my investment, there were a few months in 2019 when I decided to close the box and not even look at prices. :)
That was a mistake, I should've started DCA much sooner than I did - even though I started, in price terms, at a very good time, the amount I have ended up with on my account is lower than it should've been.
 
...everything ends always well; if it’s still bad, then it’s not the end!

Online Guile

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Re: So, Who Is Buying Into Crypto?
« Reply #147 on: October 21, 2021, 08:33:33 AM »
I invest in the long term, 5-10 year periods.  Bitcoin has way too much risk compared to stocks.  I don't know which exchange you use or where you buy them from but several have been hacked and everyone has lost their money.  Mt.Gox the prime example.

I've made alot with tech stocks and index funds over the past 10 years.  Bitcoin wasn't a thing until perhaps 6-7 years ago.

50% of your portfolio is alot.  If you can handle the swings and downturns then do it.  Guys like Elon Musk and other billionaires have huge holdings of BTC but I doubt it's even 10% of their total net worth.

Online andrewfi

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Re: So, Who Is Buying Into Crypto?
« Reply #148 on: October 21, 2021, 09:00:26 AM »
When did the Mt Gox thing take place? A decade ago. That's before Facebook went public. Have a look at your smartphone. How old is it? Would you even consider buying, as new, a decade-old phone? Of course not! The world has changed.

You seem to be in something of a time warp. I get that. As we get older it can be hard to learn about and understand new things. We also tend to rely upon our often outdated memories. It's tough, it happens to many people as they get older.

I think you misread what I wrote. The proportion is what happened as a result of growth. That's money that did not exist before, at least not for me. If I had reduced the proportion then guess what would have happened? I would have set fire to money because if ANY other investment had been as productive then the proportion of crypto would not have grown to where it is.

Thankfully, I am not so daft as to throw money away.

Oh, and as for net worth., I might be an outlier here, but I'd consider myself poor and or limited in my planning and thinking if this stuff was 50% of my net worth. It isn't. Perhaps the term 'net worth' does not mean what you think it does?

As I noted before, if you don't get it, or can't deal with rapid growth in value then that's fine. It is not your fault or even your problem. However, the stuff you are writing suggests to me that your outlook might just be causing you to miss opportunities and to lose money that you don't even recognise through faulty thinking. The world changes, it moves on.

Just a thought experiment for you. Assuming that you are, as you told me, happy with a 5-year time scale, which of your individual stock investments have performed as well as Bitcoin over that period? How many have done as well on a year by year basis during that time? What about ten years?

As a corollary, when was Ethereum launched? That falls within your ten-year limit, quite comfortably. How many of your more recent stock picks didn't exist back in 2015? How many of them have given their investors the same returns over the same period?

Not trying to persuade you, but just look at the numbers and perhaps an old dog can learn a new trick. :)

Anyhoo, my purpose at the moment is to sort out a strategy to take some profit in Sterling or Euros while leaving opportunities for the upside. I am sure that there will be a peak and a pullback. It is bound to happen if for no other reason than an efficient market requires an occasional distribution of the assets. As a long term holder, this is about how much profit to take, I cannot envisage a situation where the values of the entire sector fall to such a degree that I'd end up underwater.



...everything ends always well; if it’s still bad, then it’s not the end!

Offline redroo

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Re: So, Who Is Buying Into Crypto?
« Reply #149 on: October 21, 2021, 09:59:39 AM »
Andrew, which exchange do you use to buy just out of interest?