PropertyMania Posted March 19 Share Posted March 19 18 minutes ago, Lucky Larry said: It doesn't matter YET to some. Lots of people have lost a lot of money in the roller coaster that is crypto , from 1k down to 200 then from 20k down to 4k then from 67k down to 16k , anyone who bought near the top and sold in a panic as it crashed (as people do) lost . It's a casino and not everyone wins at the casino except those running it . It's always strange that online you never meet anyone who lost or who admits blowing their wages at the bookies you only meet the winners or those claiming they have won . For a forum desperate for a HPC so they can afford to buy a house it seems to be populated with posters on 6 figure wages and 7 figure savings accounts exactly. all the hodlers think there is $1.2 trillion just there for the taking, but of course the price would crash if even a small number realised their gains crypto fanboys blinded by survivorship bias Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 1 minute ago, PropertyMania said: exactly. all the hodlers think there is $1.2 trillion just there for the taking, but of course the price would crash if even a small number realised their gains So the right answer is to take $0? I don't get it. Markets are ruled by greed and fear. Right now there is a lot of greed so I can understand why you are fearful. Be greedy when others are fearful and vice versa. But the opportunity was there. If you believe bitcoin will go to 100k at some point soon as most people do there is arguably still some opportunity there. But there is risk for sure. I found it impossible to conclude the right amount of bitcoin to have was zero though. The risk was asymmetric. Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted March 19 Share Posted March 19 17 minutes ago, scottbeard said: So the right answer is to take $0? I don't get it. Markets are ruled by greed and fear. Right now there is a lot of greed so I can understand why you are fearful. Be greedy when others are fearful and vice versa. But the opportunity was there. If you believe bitcoin will go to 100k at some point soon as most people do there is arguably still some opportunity there. But there is risk for sure. I found it impossible to conclude the right amount of bitcoin to have was zero though. The risk was asymmetric. $2.1 trillion for a mostly pointless 'asset' seems like greed to me Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 22 minutes ago, PropertyMania said: $2.1 trillion for a mostly pointless 'asset' seems like greed to me Err - isn't that what I said? Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted March 19 Share Posted March 19 28 minutes ago, PropertyMania said: $2.1 trillion for a mostly pointless 'asset' seems like greed to me For many people it’s not a pointless asset. But keep shouting that into the wind if it makes you feel better about missing out. Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 2 hours ago, Huggy said: As do Bitcoiners when they cash out their mad gainz. 15,000% average return (realised gains no less), two weeks last Sunday had me squealing like the tickle monster had me. 25,000% unrealised right now, well you can imagine the racket Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 2 hours ago, scottbeard said: Well then, why are you on this thread talking to them? I'm giving my opinion and an alternative view that they and others may not have thought of , I didn't realise it was restricted to people with the same view as you Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 11 minutes ago, Lucky Larry said: I'm giving my opinion and an alternative view that they and others may not have thought of , I didn't realise it was restricted to people with the same view as you Very public spirited of you to wade through 1308 pages of posts by people you have described as "empty vessels" just to be able to post an informed counter-opinion that it's all a load of old rubbish. As a reminder, on page 1 of this thread Bitcoin was valued at $200 per coin. Quote Link to comment Share on other sites More sharing options...
wighty Posted March 19 Share Posted March 19 (edited) 37 minutes ago, Lucky Larry said: I'm giving my opinion and an alternative view that they and others may not have thought of , I didn't realise it was restricted to people with the same view as you Jeez, we have a font of all knowledge on HPC. Come on, Marky, I'm sure it's you fannying about. Edited March 19 by wighty Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 1 hour ago, wighty said: Jeez, we have a font of all knowledge on HPC. I wouldn't be arrogant enough to claim that not when this forum is littered with know alls , I don't think I could cope with the competition Quote Link to comment Share on other sites More sharing options...
Data Dave Posted March 19 Share Posted March 19 3 hours ago, scottbeard said: As a reminder, on page 1 of this thread Bitcoin was valued at $200 per coin. 🤮 Quote Link to comment Share on other sites More sharing options...
markyh Posted March 19 Share Posted March 19 5 hours ago, Lucky Larry said: House Prices Bitcoin only go up Now you understand. Well done. did you start reading the thread form page one and realise like the Matrix, we have done all these arguments over and over since 2013 and destroyed the "Zion" nocoiners several times in the past, and we have become very efficient at it. Quote Link to comment Share on other sites More sharing options...
markyh Posted March 19 Share Posted March 19 5 hours ago, PropertyMania said: exactly. all the hodlers think there is $1.2 trillion just there for the taking, but of course the price would crash if even a small number realised their gains crypto fanboys blinded by survivorship bias This is true of any asset class. Can you name me one asset class in history if 99% of owners tried to sell at the same time it didn't crash the price? Quote Link to comment Share on other sites More sharing options...
markyh Posted March 19 Share Posted March 19 5 hours ago, scottbeard said: So the right answer is to take $0? I don't get it. Markets are ruled by greed and fear. Right now there is a lot of greed so I can understand why you are fearful. Be greedy when others are fearful and vice versa. But the opportunity was there. If you believe bitcoin will go to 100k at some point soon as most people do there is arguably still some opportunity there. But there is risk for sure. I found it impossible to conclude the right amount of bitcoin to have was zero though. The risk was asymmetric. You get it, he can't. 1308 pages of circular arguments every 4 year cycle , every halving, every bull run. In 12 months months time he will be frothing at the mouth with anger he could have doubled or tripled his money and cash out, but he couldn't pull the trigger. Quote Link to comment Share on other sites More sharing options...
markyh Posted March 19 Share Posted March 19 3 hours ago, scottbeard said: Very public spirited of you to wade through 1308 pages of posts by people you have described as "empty vessels" just to be able to post an informed counter-opinion that it's all a load of old rubbish. As a reminder, on page 1 of this thread Bitcoin was valued at $200 per coin. I'm there! page 1. I just wish i got more over the years like @MonsieurCopperCrutch . Quote Link to comment Share on other sites More sharing options...
markyh Posted March 19 Share Posted March 19 3 hours ago, wighty said: Jeez, we have a font of all knowledge on HPC. Come on, Marky, I'm sure it's you fannying about. Nope, not me, i reckon it's the 2nd account of our Cummie owning PS5 trading mums basement dweller. He would have almost certainly appeared by not kicking off. Quote Link to comment Share on other sites More sharing options...
Lagarde's Drift Posted March 19 Share Posted March 19 7 hours ago, PropertyMania said: Free money, are you kidding? This is classic ponzi thinking. It's zero sum. Your gain is always someone else's loss (plus the permanently lost cost of wasted electricity) what are you on about. the monetary supply and the total volume of capital is not zero sum. Quote Link to comment Share on other sites More sharing options...
RodCrosby Posted March 19 Share Posted March 19 (edited) I have put together a Google Sheet that simulates the factors I have been posting about for several weeks. What does the BTC $ price mean for YOU? Both in terms of wealth and income, based on your existing situation? [No use saying "It's $100k, I'll cut-and-run." You cannot possibly know what you're doing without careful evaluation of its long-term impact on YOU, and consideration of possible realistic future targets] Looking for a spreadsheet-savvy diamond-hander to test it. (sorry, "bennies" need not apply) Or should I just release it into the wild? No warranty given or implied... Edited March 19 by RodCrosby Quote Link to comment Share on other sites More sharing options...
Grayphil Posted March 19 Share Posted March 19 1 hour ago, RodCrosby said: I have put together a Google Sheet that simulates the factors I have been posting about for several weeks. What does the BTC $ price mean for YOU? Both in terms of wealth and income, based on your existing situation? [No use saying "It's $100k, I'll cut-and-run." You cannot possibly know what you're doing without careful evaluation of its long-term impact on YOU, and consideration of possible realistic future targets] Looking for a spreadsheet-savvy diamond-hander to test it. (sorry, "bennies" need not apply) Or should I just release it into the wild? No warranty given or implied... Rod. Are you OK? I'm guessing that what you have posted above makes complete sense to you Let's call me a Crypto Layman, or a newbie, despite me owning for a little while, but can you please unpack a little more of what you actually mean, I honestly don't understand any of that post. To a Layman like me, it just seems like you are frothing at the mouth angry about lots of things, which doesn't make much sense if surely the last few months has been great for Crypto. I know the last week had dropped by 20% but its not the end of the world.. Quote Link to comment Share on other sites More sharing options...
RodCrosby Posted March 19 Share Posted March 19 Yawn. NEXT ! Quote Link to comment Share on other sites More sharing options...
Lucky Larry Posted March 19 Share Posted March 19 3 hours ago, markyh said: Now you understand. Well done. did you start reading the thread form page one and realise like the Matrix, we have done all these arguments over and over since 2013 and destroyed the "Zion" nocoiners several times in the past, and we have become very efficient at it. Have you bored them all to death ? Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 19 Share Posted March 19 34 minutes ago, Grayphil said: Let's call me a Crypto Layman, or a newbie, despite me owning for a little while, but can you please unpack a little more of what you actually mean, I honestly don't understand any of that post. I believe that what Rod is saying is that you should decide when to sell your Bitcoin by some trigger related to your own income and lifestyle, such as "I'll sell when I have enough to have a £50k pa income for life" etc rather than "I'll sell when the Bitcoin price reaches $100k". And as one who works in the pensions industry, I quite agree that one way to plan your retirement is "I'll retire when I have enough capital for an income of £50k pa for life". However, I don't agree with him on this approach to Bitcoin, because I think that only makes sense you have a strong conviction that Bitcoin will continue to perform very well. If you don't think that Bitcoin will ever go much higher than $100k then it makes sense to sell at $100k. Quote Link to comment Share on other sites More sharing options...
RodCrosby Posted March 19 Share Posted March 19 I suppose it boils down to:- "Before you do anything, wouldn't you like to know what it really means?" And be able to look at a reasonable range of outcomes, and see what that really means? You might be surprised to learn that e.g. BTC $100k means F-all for your overall life, or of course it could mean everything. It depends on other variables. BTC dollar price means nothing in isolation. Quote Link to comment Share on other sites More sharing options...
markyh Posted March 20 Share Posted March 20 8 hours ago, Lucky Larry said: Have you bored them all to death ? Nope. they all gave up, realised they were wrong, and stopped posting. Several actually woke up, joined us, and invested. Happens every 4 years, this cycle is no different. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted March 20 Share Posted March 20 1 hour ago, markyh said: Nope. they all gave up, realised they were wrong, and stopped posting. Several actually woke up, joined us, and invested. Happens every 4 years, this cycle is no different. Yes that's what happened to me in 2019. In 2015 or so I had a bit of a google into it to try and have a dabble but found it wasn't straightforward to buy any (so it seemed at the time) so just let it slide. In the end went for it in 2019 because you could get bitcoin via the (now banned) Hargreaves Lansdown ETF which seemed less scary than wallet and exchanges etc. Ultimately though with all investing people have to form their views and convictions, understand their risk tolerances and invest accordingly. Some people just can't cope with ever seeing the value of an investment fall, and would rather turn £100 into £103 than try and turn £100 into £1,000 but risk it going to £0. That's their call. Quote Link to comment Share on other sites More sharing options...
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