How is Bitcoin working out

I’m about to get in!

My son mined some, so his was free.

In a bear market with rampant inflation, people won’t put money in risky fringe investments. Until it proves to have real world value (not speculation) it’ll continue to flounder downward. Just my .02 cents. I had a small crypto account that I'm writing off and forgetting about as a lost bet. IF I'm wrong and it bounces back I'll consider it a bluebird windfall.

Things will settle down after we elect a Republican to the White House.
The Democrats are not interested in that right now, they just want to make as much as possible until then.

Back and forth it goes.

Don't do it with money you will ever NEED in the future.......

This is nothing more than the equivalent of the dot.com scam.....these coins and their exchanges have no REAL asset inside them or backing them.......pure speculation, nothing else......

Hell yeah! Sign me up!

I have 100000000 Shiba Inu if it go's to 00.01 I'll be rich but like everything else I have it sux.

Time to buy more

It worked out well. Past tense. Purchased 4 figures worth, not including change way back and sold at 7 figures.

I dropped $20 into it today on my cash app. Fun to watch it.

That dogecoin millionaire guy should have sold. Pretty sure he is underwater now.

It’s here to stay

A lot of weenies, like the original poster are oblivious

I expect a further fall, which may include people like him to further post lol

If ETH drops under 1k, I’m all in

Hey, I’ve said so many times…you do you

In caveman days, fire was sketch

Neighbor cavemnan said nah, no thanks

You do you

All depends on when you bought in. My father is still kicking himself for not buying in the early teens! Had multiple people talk him out of it.

The time is near, I believe this

I expect a spike or two soon, but a new recent low to follow

I don’t want to sound DB, so I won’t

I have cash on the sidelines

$800-$900 ETH, ballz deep…

Ferraris or food stamps

Let’s go

Just looked at current price of BTC

Juicy…

It ain’t the time yet but we’re close

Grandchildren will thank you

I worked with a 32yo guy that “retired” bc he was doing so well in bitcoin. He is looking for a job currently bc he decided he was bored and coming out of retirement. Right…..

Sounds alot like the US Dollar.

IMF flexing it’s muscle on something it will not be able to stop.

We need some Oxner wisdom here.......................

I’ll pass. I can read financial statements, calculate value, etc. To me, this stuff is vapor investing.

There is a reason why the whales don’t invest in it.

I have a few NFTs that I'm hoping to retire from. Should I list them at full value on THF Classifieds? One is an image of a monkey eating it's own poo - I think that one was worth like $250k last i checked.

Got in and out for a short time in 2020/21. Made a few bucks, helped pay for the C8.

Nice roll of the dice...Its all in the wrist..Anyone can do it.

If you put 1000 people in a room, all think they are expert coin flippers....Tell them all to try and flip heads 10 times in a row. Statistically, you are going to have 1 person that will do it. Does not mean he he is an exert coin flipper, although he will probably argue he is...

There are a lot of folks crying now but won't admit it. Some got rich but the ones that held got the shaft. Same way with all investments. Not all are sure things. If you can't afford to loose don't drink the Kool aide.

There are 3 basic options:

1. Be first
2. Cheat
3. Be smarter

I lucked out with the first option. Bitcoin does have value or at least did at one time.

TurkeyHunter, what value did bitcoin have at one time? Asking because I really don’t understand value without some backing. Whether intellectual or goods and services.

The only value it has is how much a buyer is willing to pay for it……nothing more….it doesn’t multiply or pay dividends…. Perceived value is all and eventually it will be zero IMO…..

There is light at the end of the tunnel, except it’s a freight train coming at you.

Hi Dave,

I purchased in 2015 at $357 each.

I’ve not dealt with it in some time, nor have I followed any other cryptos. But the value came from being able to transfer money or conduct business with little oversight. It was like a big huge pile of special gravel and that’s all there’s ever going to be. Working with the right parties, that special gravel could be used for transactions. As demand increased for untraceable transactions, so did the value of bitcoin. But one could acquire if they knew how, a small wheelbarrow full with no nefarious intentions and later sell that special gravel to a willing buyer at a nice return. Of course one would report and pay taxes on the return just as if it was gravel one purchased and resold.

Bingo! Margin calls and capitulation in the crypto space picking up speed. Lots of “money” going poof…….

Belief mine, it's gonna go the way of chinchillas and emus. It's an emperor has no clothes thing spawned out of excess generated by free enterprise. Oh yeah, and it was perceived to be cool.

By whale you mean the richest person in the world?

...but, but, but...if you got in around $500 and sold around $55K-$60K then you're sitting with fat stacks. I never thought this was a long term strategy, more like hit it and quit it.

Lol. Or a bunch of other Billionaires....

You are almost there now. Under $1k.

https://www.coindesk.com/price/ethereum/

There are some "Stablecoins" if I called that correctly that were supposed to be pegged to $1.00, however that works. They were supposed to be safe. They went to a few pennies. Some people were absolutely wiped out. They treated that investment like a roulette wheel and lost.

It's not an investment. It's just like gambling with the exchange rates of any other currencies.

Market Summary > Bitcoin
18,155.00 USD
−2,290.60 (11.20%) today
Jun 18, 7:40 PM UTC

I was going to say I did well overall but that's amazing!

At some point, I am going deep on ETH/BTC

I don’t want to catch this falling knife either but I do believe it’s the future

A long term prediction that I firmly believe in

Buy when they’re blood in the streets, even if it’s your own…

2.3 TRILLION US Dollars in circulation currently

Think about what that means long term

72 of 100 most popular crypto coins have lost at least 90% of their peak value. There is nothing to back them up so they have the potential to go to zero.

You do you

When Shiba Inu gets to one cent I'll be a Millionaire

You and my coworker.

Bitcoin way past this ol farts level of comprehension. Although i have dabbled in the stock market at times and done fairly well. My key in retirement is the gold I’ve been buying and collecting since 1970....I’ve never stressed or worried about any gold I ever bought. Always been fascinated with gold. When I started buying it...it was more of a collecting thing for me but ended up serving me very well.
Guess I’ve just been lucky

21 million Bitcoin available and that’s it, no more

2.3 Trillion US dollar available and it will be more in coming years for sure

If you think cash is better than crypto, I can’t help you

I tried

The dollar is only the dollar because you believe in it

And that’s fine, we all do

But 100k Today, ain’t 100k 20 years ago

100k will be gone on a F350 pretty easy today but it would have bought a decent size of land a decade ago

The dollar will decrease in value over time, always has

I wasn’t always a believer myself

I’m done

There is a way to bring the dollar back up but no one is ready for the stopping of the printing press and ultra high taxes

I don’t know the future of bitcoin but I know Inner and outer Market diversification is always a solid play

depends on when you purchased your first btc? for exapmle covid crash,.... 3k? if so good or even before that in 2016

Eth then,.... $90 still good

xrp $0.11,.... still good

bear market means buy guys. educate yourself on halvings and cycles.

list can go on. put 2-5% of you protfolio into it in the next 4 months. even if btc goes down to 10k and takes the alts with hold for 2.5 years or so. OR just DCA the same we spend on snuff, beer and bullets.

I sold all my shib in a hotel in Georgetown colorado last 2 nd rifle elk season. didnt make a ton but only time i sold the top. I should of sold my entire portfolio in elk camp last early november. This stage of the market invest in the top 15. Only put what you can lose in the long shots.

hearing bad things about the bit

Bad things like what?

Liquidations (Three Arrows Hedge Fund and gating (Coinbase), more to follow as margin calls can’t be covered.

…..your kind of help is the last thing investors need…..

Before investing in crypto consider these facts……The Golden Rule hasn’t changed; “Those who hold the gold make the rules.” The Federal Reserve and World Bank hold the gold and will never allow private investors to play in their sandbox…and the only money to be made from Bitcoin is from the loss of others…..

Incorrect….the equipment needed to mine and the energy demand to run the equipment is not close to being free and he will therefore lose money if he holds his coins until they are worth zero…..

This is correct…people are so delusional thinking that bitcoin is the currency of the future. Do you really think world governments will allow that to happen?

1 question for you.

How much do you make off people investing in crypto?

I’ll hang up and listen…

I’ll answer it if he don’t

Kevin O’Leary’s portfolio is over 30% crypto

Ole PitchFork can’t scalp crypto investors

Effin blood sucker

You posted the noose on me above…

The currency of the future is nothing more then want someone wants to barter with. Land, Grain, Gold, Silver, bitcoin, rubles, peso’s Krona, even chicken eggs, and if Stub isn’t retired maybe even his dancing

Mocking people for their investments thoughts is pretty petty. Who cares how they diversify. Those poking people for how/what they investments are in usually same one preaching debt leverage as they take their fee regardless of sinking performance.

When they can’t scalp you or keep you down, they discredit it

You do you

But that weenie PitchFork guy pissed me off w the noose

If you want to get scalped by all means, get scalped

You don’t need his profession anymore and he’s holding on

Kinda like print…if you want to buy a Sunday paper buy one…BUT…

He makes $0.00 on crypto for investors

He gone be so mad

Probably telling little old lady’s to buy oil stocks right now at their 10 year high lol

ABC. They are all essentially sales guys, a few offer more value then others and really the value depends on your needs and risk tolerance. Most institutional/franchise type Financial advisors dont offer much out of side of telling you you are under insured and think long term. Now there are some really good ones that understand generational wealth protection not just premiums.

Crypto is volatile but so is Texas energy costs, just another diversity tool. My only advice was n crypto is make sure you have your own hard wallet to hold it.

I watched an Ameritrade interview with O'leary a month or so ago where he said he only had 3% in it and was collecting defi interest of 4-8%. Yet at one time he also used to call it Crypto Crap and was against owning it. He probably has some kind of business incentive to push it. Even while watching the interview it was over my head while he explained how he put together a team and makes money off the volatility. I don't know. I only have a few hundred bucks in crypto as a hold forever speculative gamble and do still dca small amounts into it, but I avoid it as a serious investment.

The last interview I saw, which was today ironically he said %32-%33

I fully agree

I’ll add he can’t add anymore to my knowledge these days than a simple Google search or Reddit login

Those days are gone, the info is available to those willing to dedicate the time

After that, it’s what do you believe.

Buffett said he wouldn’t buy all the crypto for $25 recently

Same guy bet on IBM, when Apple was there for the taking…

I have a deeper theory to that but it’ll take too long

So I’ll leave it at, I believe it’s the future

I just did a google search on Kevin Oleary Crypto set for results only from the last 24 hours. He must have some kind of business angle on this crypto thing or he is getting paid to do it. He is pumping it hard. 5 separate youtube videos from or with him in the last 24 and the entire first page of google search results are multiple interviews and articles by or with him from today. I was going to watch "the" interview until I saw how big a pump it was and lost interest. I don't really have enough skin in the game to matter, so did not read or watch any of them.

Recently, he made a video about his son interning at Tesla

And how was originally against investing in Tesla

He changed course because it’s more of a tech co than a car co

Just my guess but his son has his ear about new technology

We shall see about crypto.

My CPA told me to buy some when it was $7k a coin…..he sold out at $17k/coin.


I bought during a dip but it wasn’t THE dip so I’m down know 75%….but DCA’ing and it’s gonna be interesting to see if it comes back.

We shall see



But I looked at it like gambling and didn’t risk more then I was willing to lose

this "conversation" is laughable.

Some good ones out there right now......

I think it was Mark Twain who said "I am more interested in the return of my money than the return on my money"

Did you get your feelings hurt?

For the record I don’t work off commission, I charge a fee based on the value of the investments…..and this thread proves one of the most important values in my client relationships……protecting my clients from themselves…..

That's really a good point. there are financial advisors in this town who have been educating themselves on and experimenting with electronic currency. None seem to be too on board with it.

You still get paid regardless of the market change.

Protecting someone from making bad choices, obviously they are to ignorant to save and accumulate wealth with out you, it’s a miracle they had enough excess to turn it over.

Sounds to me like you own crypto as well…….

Currently our downside capture is 50% of the benchmark so we should be paid during down cycles….

What did 15k in 2016 buy your clients? in late 2020 That 15k bought my kids almost a section of farm land with mine. But I guess you where saving your clients from that kind of tax bill…

Every investment has risk. Crypto is risky anything that volatile will be

[b][/b]With a washout of over 66% from its high and as much leverage that’s been used in all markets I suspect we still have a bunch of margin calls to go which is going to leave a lot of retail investors holding the bag. Classic pump and dump, imho.
A lesson that’s also hard to learn for many is not to fight the Fed. Powell has already said there will be central bank digital currency.

Very very much so, it’s going to get uglier as consumer confidence falls off a cliff

Crypto to gains were an example of the largesse created by a good economy. We may be seeing where it goes when the economy ain't so good.

Absolutely nothing wrong with a professional helping to instill discipline.

I agree on the risk trade off….to answer the question….nothing.

I don’t hold myself out as an accumulation advisor…..my ideal client is within 10 years or less of their desired retirement date…..I focus on preserving and keeping ahead of inflation and distribution keeping taxes low or no tax at all…..

Completely agree but same can be said for certain stocks right now also I know one that averaged 16% YOY growth for last two 4 QTR and has met and an exceeded earnings estimates and is down over 40%.

Nothing wrong with paying someone to manage your savings, no different then outsourcing things around the house. It’s the arrogance behind why you should that I can’t stand.

Has nothing to do with arrogance…..it’s factual that most investors seriously lag the benchmarks because they make many investment decisions based off their emotions……check out the current Dalbar white paper….

Absolutely correct, but I’m not real sure the sales pitch is Let me save you from yourself, as the discipline it took to accumulate that savings is suspect at best…

Big difference.

Your initial statement has everything to do with arrogance it completely ignores the disciplines of your clients to save, especially if you are focused on last 10years, or post retirement

Take it however you want……so is this your deflection from the facts of most investors long term return seriously lagging the benchmarks?

That’s not a deflection, I have already acknowledged value, you should stop now and save yourself from yourself. pun intended

I am not trying to make bad light of others investing decisions….. I have been consistent in my opinion of Bitcoin throughout its highs and lows……I have never been supportive of investments that rely on other investors losing money in order to make money from the investment…..