I waded into crypto for the first time with some beer money a year ago and have done quite well. 3x up is nice and all, but hardly retirement money.
Still conflicted on it. I tend to believe Warren Buffett and the late Charlie Munger who HATED crypto with a passion. It is easy to search their comments on the topic. But on the other hand, is it possible that even the all-time greats can't see the new future? There are lots of examples of geniuses who get things wrong. Who knows. Time will tell.
Crypto is great for daytrading and gambling, spotting narratives, buying bottomed out tokens and selling the pumps, searching for volume on new launches, using trading bots and scanners to check for rugs and ape in and out quickly. If you go in with that mindset you will do well and make good profits. If you go in with a long-term investors mindset then you will fail and likely consider it all to be a scam unless you just buy BTC. This is because everything else will bleed to BTC long term.
I waded into crypto for the first time with some beer money a year ago and have done quite well. 3x up is nice and all, but hardly retirement money.
Still conflicted on it. I tend to believe Warren Buffett and the late Charlie Munger who HATED crypto with a passion. It is easy to search their comments on the topic. But on the other hand, is it possible that even the all-time greats can't see the new future? There are lots of examples of geniuses who get things wrong. Who knows. Time will tell.
Please keep us all updated.
I'm sure you'll be completely honest and upfront about how well you're doing, unlike all the other crypto bros.
Warren Buffett has made his share of errors but he's kicking @ss. If you had an hour with W Buffett, could you convince him of the merits of your crypto strategy?
Just for giggles I looked up some statements made by Warren Buffett about Bitcoin over the years. The oldest I could find was from March 14, 2014 when he told CNBC "“Stay away from it. It’s a mirage ...". He's been badmouthing Bitcoin ever since.
Since that day, Berkshire Hathaway's "A" stock (BRK.A) has gone up 222% or 12.4% per year. Over the same time period, the S&P-500 went up 172% or 10.5% per year. So, Buffett still beats the overall stock market by almost 20% per year, which is nothing to sneeze at.
Bitcoin, which Buffett hates, went up 7,490% in the last 10 years! That's 54.5% per year.
Had you taken $186,507, which is what 1 share of BRK.A cost on March 14, 2014, and used it to buy BRK.A, you would now have $600,634. But, if you'd taken that same amount and bought Bitcoin instead, you would now have $14,457,907!
No wonder Buffett hates Bitcoin, it's making him look like a fool.
I waded into crypto for the first time with some beer money a year ago and have done quite well. 3x up is nice and all, but hardly retirement money.
Still conflicted on it. I tend to believe Warren Buffett and the late Charlie Munger who HATED crypto with a passion. It is easy to search their comments on the topic. But on the other hand, is it possible that even the all-time greats can't see the new future? There are lots of examples of geniuses who get things wrong. Who knows. Time will tell.
There is a great clip of Warren and Charlie presenting to, I think, their annual meeting. Warren goes off on crypto, just savaging it. Then Charlie said, "Warren likes crypto a lot more than I do," to much laughter. Alas, couldn't re-locate that vid.
Time will tell. The value of anything is determined solely by what others will pay for it.
I gotta admit, there's some truth to what you're saying about daytrading and all that jazz. It's like a high-stakes game of poker, and if you play your cards right, you can walk away with some sweet profits. But hey, gotta keep it real – crypto's a wild ride, and it's not for the faint of heart. If you're in it for the long haul, you gotta stay cool and stick to your guns. BTC might be the OG, but there's still plenty of room for other coins to shine – you just gotta know where to look. And if you're thinking about diving into the trading game, you might wanna check out signing up for Binance here
Trading price doesn’t tell you anything about what something’s actually worth. There are no tangibles to it, nothing produced from it, no product or service being sold, no cash flow etc. it’s a hot potato for poor people to gamble in and out of. It could trade for 100k or 2k as a line of useless computer code (not a coin) based on moods
10-15 years is not a long track record in world of investing. The technology is old (2008) and still isn’t being used for anything other than a hot potato lottery ticket type of thing for poor people to pass along and play casino games with
first it was adoption is coming soon-just look at businesses transacting in bitcoin and more will soon- just wait. Now it’s a “store of value” or a “hedge against inflation” and really it’s proven to be none of these
the Super Bowl ads of 2022 won’t be coming back so it’s going to be harder to find new suckers to sell these coins to
Trading price doesn’t tell you anything about what something’s actually worth. There are no tangibles to it, nothing produced from it, no product or service being sold, no cash flow etc. it’s a hot potato for poor people to gamble in and out of. It could trade for 100k or 2k as a line of useless computer code (not a coin) based on moods
10-15 years is not a long track record in world of investing. The technology is old (2008) and still isn’t being used for anything other than a hot potato lottery ticket type of thing for poor people to pass along and play casino games with
first it was adoption is coming soon-just look at businesses transacting in bitcoin and more will soon- just wait. Now it’s a “store of value” or a “hedge against inflation” and really it’s proven to be none of these
the Super Bowl ads of 2022 won’t be coming back so it’s going to be harder to find new suckers to sell these coins to
I am a small investor in crypto yet believe this comment.
It is true there are no tangibles to crypto like there are for, say, precious metals.
But the value of anything is determined exclusively by what people will pay for it. Maybe crypto really is just Dutch tulip mania. Maybe it is something real and long lasting. Time will tell. This investor isn't sure, so keeping my investment limited.
Trading price doesn’t tell you anything about what something’s actually worth. There are no tangibles to it, nothing produced from it, no product or service being sold, no cash flow etc. it’s a hot potato for poor people to gamble in and out of. It could trade for 100k or 2k as a line of useless computer code (not a coin) based on moods
10-15 years is not a long track record in world of investing. The technology is old (2008) and still isn’t being used for anything other than a hot potato lottery ticket type of thing for poor people to pass along and play casino games with
first it was adoption is coming soon-just look at businesses transacting in bitcoin and more will soon- just wait. Now it’s a “store of value” or a “hedge against inflation” and really it’s proven to be none of these
the Super Bowl ads of 2022 won’t be coming back so it’s going to be harder to find new suckers to sell these coins to
I am a small investor in crypto yet believe this comment.
It is true there are no tangibles to crypto like there are for, say, precious metals.
But the value of anything is determined exclusively by what people will pay for it. Maybe crypto really is just Dutch tulip mania. Maybe it is something real and long lasting. Time will tell. This investor isn't sure, so keeping my investment limited.
Next financial crisis will be when crypto and AI stocks crashes (you could also throw in Tesla for good measure, but I think Musk will be able to keep BS-ing his way to keep the share price up).
Nothing has happened with crypto between now and September that would justify the value doubling other than the introduction of ETFs. AI is just the merger of a search engine, CGI generator and LLMs. The money going into AI assumes that in a few years, AI will be handling complex securities litigation and law firms will just have to have a single 2 year associate read from AI generated text in order to handle a six week jury trial. VC money has a shelf life of about 3-5 years. There will be huge shakeups in these markets in a few years when all the hedge fund managers have to account for poor performance after the big pump that we are now seeing.
Next financial crisis will be when crypto and AI stocks crashes (you could also throw in Tesla for good measure, but I think Musk will be able to keep BS-ing his way to keep the share price up).
Nothing has happened with crypto between now and September that would justify the value doubling other than the introduction of ETFs. AI is just the merger of a search engine, CGI generator and LLMs. The money going into AI assumes that in a few years, AI will be handling complex securities litigation and law firms will just have to have a single 2 year associate read from AI generated text in order to handle a six week jury trial. VC money has a shelf life of about 3-5 years. There will be huge shakeups in these markets in a few years when all the hedge fund managers have to account for poor performance after the big pump that we are now seeing.
Next financial crisis will be when crypto and AI stocks crashes (you could also throw in Tesla for good measure, but I think Musk will be able to keep BS-ing his way to keep the share price up).
Nothing has happened with crypto between now and September that would justify the value doubling other than the introduction of ETFs. AI is just the merger of a search engine, CGI generator and LLMs. The money going into AI assumes that in a few years, AI will be handling complex securities litigation and law firms will just have to have a single 2 year associate read from AI generated text in order to handle a six week jury trial. VC money has a shelf life of about 3-5 years. There will be huge shakeups in these markets in a few years when all the hedge fund managers have to account for poor performance after the big pump that we are now seeing.
$53.5k plus
Officially a FOMO rally. The bigger they are, they harder they . . .
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