11-18-2022, 01:36 AM | #67 |
Lieutenant
![]() ![]() ![]() 1631
Rep 439
Posts |
I’ve given up trying to understand what’s happening with Bitcoin/ Ether. My investment has dropped by 60% since I bought. Do I cut my losses now, while it still has some value, or wait for it to pick back up again one day?
|
Appreciate
0
|
11-18-2022, 06:30 AM | #68 | |
Private First Class
![]() 314
Rep 145
Posts |
Quote:
Ergo, there will be a lot of attorneys and eager prosecutors who are going to rip this kid a new one. SBF's whole schtick of "altruistic capitalism" and "doing the right thing" will rank right up there with the former Nazis who argued "I was just following orders" at the Nuremberg trials. |
|
Appreciate
2
dradernh4413.00 floridaorange10161.50 |
11-19-2022, 08:24 PM | #70 |
C2H5OH
![]() 3915
Rep 2,144
Posts |
Just playing to the thread title,
I put very little money ($60 total) in at the end of 2017. I lost the login info. I had to jump through hoops I did not agree with to get back in. I avoided everything until I got an email that the account would be permanently closed. So I had to do the stupid hoops. My conclusion is this. Crypto is not an investment. It is something that needs to be traded just like stock for it to make money, or multiply ... not sure what the correct terms is for ultimately fake things. Investing is something that is passive on your end. Trading is active on your end. |
Appreciate
0
|
11-19-2022, 08:49 PM | #71 | |
"Salud"
![]() 13851
Rep 4,675
Posts
Drives: F01 & F15 / Mineral White
Join Date: May 2013
Location: The GYM! (The Burbs - N TX)
|
Quote:
![]() |
|
Appreciate
0
|
11-19-2022, 11:02 PM | #72 | |
Forced Induction Connoisseur
962
Rep 740
Posts
Drives: 23 X5MC / 23 720s
Join Date: Aug 2020
Location: AZ
iTrader: (0)
Garage List 2024 G87 M2 [0.00]
2023 Mclaren 720s [0.00] 2005 Honda S2000 [0.00] 2008 BMW M3 [0.00] 2023 BMW X5MC [0.00] 1964 Ford Mustang [0.00] 1968 Pontiac GTO [0.00] |
Quote:
I encourage you to trade it if you can, preferably on a decentralized exchange. These CEX's are nothing more than onramps or offramps. As for the time to buy, I don't think we've seen full capitulation yet.
__________________
Oy vey, look at all these shekels
|
|
11-20-2022, 03:05 AM | #73 | |
Captain
![]() ![]() ![]() ![]() ![]() 8024
Rep 671
Posts |
Quote:
„Cryptos are too volatile, they say" Same applies to the stockmarket. Big stocks swing/crash like shitcoins. I had to learn it too. Buy when everything is crashing. DCA the weeks/months after the crash. Sell, in bullmarket. Not all at once! Sell on the way up. Then, when everyone and they're grannies buy Bitcoin and dream of Lambos and financial freedom. And never, NEVER EVER leverage trade! I'm buying now and the next months, until the bullmarket really takes off. It will happen again, in 1-2 years. I'm not a financial advisor, so this is not financial advice. Just how I play it. |
|
Appreciate
0
|
11-20-2022, 03:17 AM | #74 | ||
Captain
![]() ![]() ![]() ![]() ![]() 8024
Rep 671
Posts |
Quote:
Even if the whole market seems fu**ed bc of FTX and it's domino effect, for me it's THE time to stack up. Shit has to be washed out. Regulation on Central Exchanges (CEX) are needed, to protect us dumb „traders". I use CEXs solely as on/offramps and move the coins immediately to hardware wallets. Hey, banks are like CEX. They are not save at all. Ever checked, how much of your funds in your bank accounts are insured? I'm at risk here too. In most swiss banks, there are only 100k insured. So I need to take action here. Again, not financial advice. |
||
11-20-2022, 03:24 AM | #75 | |
Moderator
29412
Rep 13,107
Posts |
Quote:
"I, John J. Ray III, hereby declare under penalty of perjury as follows:"Sam Bankman-Fried vs. The Match King" (Nov 13, 2022) (interesting read about also the greatest swindler of the 1920s, whose massive fraud partially contributed to the creation of the SEC in 1933-1934): https://awealthofcommonsense.com/202...he-match-king/ "One of the hardest things to do as a human being is to keep your wits about you when everyone else is seemingly going mad. "Sam Bankman-Fried, Elizabeth Holmes And 9 Other Epic Billionaire Blowups": https://www.forbes.com/sites/jemimam...naire-blowups/ |
|
Appreciate
1
KRS_SN13535.50 |
11-20-2022, 10:47 AM | #76 |
Major
![]() 1803
Rep 1,011
Posts |
|
Appreciate
0
|
11-21-2022, 06:36 AM | #77 |
Private First Class
![]() 314
Rep 145
Posts |
I don't follow Ramsey, but will say this: his advice is aimed at the 90% who really do not understand "capital" and how to use it properly. When he says, "debt is bad", he's making a blanket statement to warn that 90% who, frankly, don't understand that concept and who will absolutely be better served avoiding debt.
|
11-21-2022, 01:22 PM | #78 | |
Major
![]() 1803
Rep 1,011
Posts |
Quote:
He's a salesman, nothing less, nothing more. |
|
Appreciate
0
|
11-22-2022, 12:15 PM | #79 | |
Major General
![]() ![]() 5554
Rep 5,372
Posts |
Quote:
And let's be real here, you have to know how to work the system to "use debt" to a real advantage. For me personally, I'm not interested in that. I like having no mortgage, CC debt, etc. I sleep much better at night knowing everything is mine.
__________________
The forest was shrinking, but the Trees kept voting for the Axe, for the Axe was clever and convinced the Trees that because his handle was made of wood, he was one of them.
|
|
Appreciate
0
|
11-22-2022, 07:07 PM | #80 | ||
Major General
![]() ![]() ![]() 4998
Rep 6,863
Posts |
Quote:
|
||
Appreciate
0
|
11-22-2022, 07:39 PM | #81 |
Major
![]() 1803
Rep 1,011
Posts |
|
Appreciate
0
|
11-23-2022, 03:07 PM | #82 | |
Major General
![]() ![]() 5554
Rep 5,372
Posts |
Quote:
His show would miss the mark if he tried to explain to people how to leverage debt to work for you because most people in this country aren't that smart when it comes to money management. He helps a ton of people address their money issues and get out of bad debt. He captures are way larger crowd and makes a ton more money doing that.
__________________
The forest was shrinking, but the Trees kept voting for the Axe, for the Axe was clever and convinced the Trees that because his handle was made of wood, he was one of them.
|
|
Appreciate
0
|
11-23-2022, 07:34 PM | #83 | ||
Private First Class
![]() 590
Rep 118
Posts |
Quote:
|
||
Appreciate
0
|
11-27-2022, 07:58 AM | #84 | |
Major
![]() 1803
Rep 1,011
Posts |
Quote:
But, for example, even if you have paid off the mortgage on your home, you don't really own it. Because if you don't pay your property taxes, you no longer have your property. |
|
Appreciate
0
|
11-28-2022, 09:09 PM | #85 |
First Lieutenant
![]() ![]() 405
Rep 332
Posts
Drives: 2018 BMW M2
Join Date: Jan 2022
Location: Dallas, TX
|
The name of this thread is a dichotomy
|
Appreciate
0
|
11-28-2022, 10:52 PM | #86 | |
Major General
![]() ![]() 5554
Rep 5,372
Posts |
Quote:
|
|
Appreciate
0
|
11-28-2022, 11:59 PM | #87 |
Private First Class
![]() 158
Rep 164
Posts |
I imagine it’s possible that ultimately crypto will be worth what it costs to mine it, plus or minus things like whatever speculative value the market attributes to it as the result of current economic conditions.
So, no. I don’t see it as a long term investment. |
Appreciate
0
|
11-30-2022, 09:22 AM | #88 |
"Salud"
![]() 13851
Rep 4,675
Posts
Drives: F01 & F15 / Mineral White
Join Date: May 2013
Location: The GYM! (The Burbs - N TX)
|
Bitcoin ‘rarely’ used for legal transactions, on ‘road to irrelevance’, say European Central Bank officials
https://www.msn.com/en-us/money/mark...2ee04a7f39d73f |
Appreciate
0
|
Post Reply |
Bookmarks |
|
|