Bitcoin, crypto, NFTs

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In2ition
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Re: Bitcoin, crypto, NFTs

Post by In2ition »

Mori Chu wrote:
Thu May 12, 2022 1:10 pm
Sheesh. My 401K has been looking bad enough the way it is, and I feel like I'm currently throwing money into a black hole without a bottom every 2 weeks.
"When we all think alike, nobody is thinking" - Walter Lippmann
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Indy
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Re: Bitcoin, crypto, NFTs

Post by Indy »

In2ition wrote:
Thu May 12, 2022 3:57 pm
Mori Chu wrote:
Thu May 12, 2022 1:10 pm
Sheesh. My 401K has been looking bad enough the way it is, and I feel like I'm currently throwing money into a black hole without a bottom every 2 weeks.
Just think that you are buying on the dip.

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In2ition
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Re: Bitcoin, crypto, NFTs

Post by In2ition »

Indy wrote:
Thu May 12, 2022 4:03 pm
In2ition wrote:
Thu May 12, 2022 3:57 pm
Mori Chu wrote:
Thu May 12, 2022 1:10 pm
Sheesh. My 401K has been looking bad enough the way it is, and I feel like I'm currently throwing money into a black hole without a bottom every 2 weeks.
Just think that you are buying on the dip.
Haha, I hope that's the case, but doesn't feel like it to me.
"When we all think alike, nobody is thinking" - Walter Lippmann
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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

Indy wrote:
Thu May 12, 2022 3:19 pm
I am 3.5 years away from 50. Is that several? Maybe I should have said in a few years.
Technically, yes. :D They're just numbers though, right? Why is 50 so different than 48 or 52? Besides, you're only as old as you feel, right?
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

Indy wrote:
Thu May 12, 2022 4:03 pm
In2ition wrote:
Thu May 12, 2022 3:57 pm
Mori Chu wrote:
Thu May 12, 2022 1:10 pm
Sheesh. My 401K has been looking bad enough the way it is, and I feel like I'm currently throwing money into a black hole without a bottom every 2 weeks.
Just think that you are buying on the dip.
Yup, we're getting everything on sale right now. If history is any indication, we'll eventually get to above the previous high point.
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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Indy
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Re: Bitcoin, crypto, NFTs

Post by Indy »

I hope so because my portfolio dropped over 250k in the last 30 days!

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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

Indy wrote:
Thu May 12, 2022 6:35 pm
I hope so because my portfolio dropped over 250k in the last 30 days!
I feel you.
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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Mori Chu
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Re: Bitcoin, crypto, NFTs

Post by Mori Chu »

Thanks, Biden!!!

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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

Gotta stay the course. This might help you see the big picture Indy and relax:

Image

Notice the overall trend over the history of the stock market.
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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Nodack
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Re: Bitcoin, crypto, NFTs

Post by Nodack »

Superbone taught me that trick a long time ago.

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Indy
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Re: Bitcoin, crypto, NFTs

Post by Indy »

Oh I didn't sell anything. I just track it all on the first of each month to see how I am doing towards my model. My plan is to retire in 8 years, but you have to plan it on an upswing (or at the very least, not on a down swing).

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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

Indy wrote:
Sun May 15, 2022 8:56 pm
Oh I didn't sell anything. I just track it all on the first of each month to see how I am doing towards my model. My plan is to retire in 8 years, but you have to plan it on an upswing (or at the very least, not on a down swing).
Yup, I’m looking at three years. This downswing has pretty much ensured that I at least do that.
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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Mori Chu
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Re: Bitcoin, crypto, NFTs

Post by Mori Chu »

I enjoyed this. A comp sci professor at Berkeley breaks down what is wrong with crypto.


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Mori Chu
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Re: Bitcoin, crypto, NFTs

Post by Mori Chu »

This gave me a chuckle. Not certain that it's legitimate, but it's just for laughs.


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Mori Chu
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Re: Bitcoin, crypto, NFTs

Post by Mori Chu »

So, crypto has been crashing lately. BTC dropped below $18,000, its lowest mark in almost 2 years. Here's an article:


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AmareIsGod
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Re: Bitcoin, crypto, NFTs

Post by AmareIsGod »

Bitcoin, crypto and NFTs have always been bullshit. I feel bad for countless friends that thought they struck oil buying up a bunch of this garbage.
What is smallball? I play basketball. I'm not a regular big man. I can switch from the center to the guards. The game is evolving. You got dudes like Joel Embiid, Anthony Davis, all these 7-footers, doing everything. There's no stopping us. - Ayton

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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

AmareIsGod wrote:
Mon Jun 20, 2022 9:20 am
Bitcoin, crypto and NFTs have always been bullshit. I feel bad for countless friends that thought they struck oil buying up a bunch of this garbage.
The stock market is down too. Way too early to signal the death of crypto currencies.
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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AmareIsGod
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Re: Bitcoin, crypto, NFTs

Post by AmareIsGod »

Superbone wrote:
Mon Jun 20, 2022 11:10 am
AmareIsGod wrote:
Mon Jun 20, 2022 9:20 am
Bitcoin, crypto and NFTs have always been bullshit. I feel bad for countless friends that thought they struck oil buying up a bunch of this garbage.
The stock market is down too. Way too early to signal the death of crypto currencies.
I've lost about 1k in recent stock purchses I made recently (about 10k across 4 stocks). A 10% hit. If you look at crypto tanking, 10% would be far better than what most have felt. Most crypto has seen a 50% YTD loss as of a week ago. It's always been bullshit currency with a high dependency on technology and energy to run blockchain algorithms and keep the ledgers in sync. The fact that so many different Bitcoin avenues have opened only creates more confusion on what crypto to invest in. NFTs are even more pathetic.
What is smallball? I play basketball. I'm not a regular big man. I can switch from the center to the guards. The game is evolving. You got dudes like Joel Embiid, Anthony Davis, all these 7-footers, doing everything. There's no stopping us. - Ayton

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AmareIsGod
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Re: Bitcoin, crypto, NFTs

Post by AmareIsGod »

Superbone wrote:
Sun May 15, 2022 2:42 pm
Gotta stay the course. This might help you see the big picture Indy and relax:

Image

Notice the overall trend over the history of the stock market.
It's always been a long game :) I'd still avoid cypto. The volatility and questionable practices to derive cryptocurrency make it a big no for me at this time.
What is smallball? I play basketball. I'm not a regular big man. I can switch from the center to the guards. The game is evolving. You got dudes like Joel Embiid, Anthony Davis, all these 7-footers, doing everything. There's no stopping us. - Ayton

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Superbone
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Re: Bitcoin, crypto, NFTs

Post by Superbone »

AmareIsGod wrote:
Mon Jun 20, 2022 11:29 am
Superbone wrote:
Mon Jun 20, 2022 11:10 am
AmareIsGod wrote:
Mon Jun 20, 2022 9:20 am
Bitcoin, crypto and NFTs have always been bullshit. I feel bad for countless friends that thought they struck oil buying up a bunch of this garbage.
The stock market is down too. Way too early to signal the death of crypto currencies.
I've lost about 1k in recent stock purchses I made recently (about 10k across 4 stocks). A 10% hit. If you look at crypto tanking, 10% would be far better than what most have felt. Most crypto has seen a 50% YTD loss as of a week ago. It's always been bullshit currency with a high dependency on technology and energy to run blockchain algorithms and keep the ledgers in sync. The fact that so many different Bitcoin avenues have opened only creates more confusion on what crypto to invest in. NFTs are even more pathetic.
Consider yourself lucky. The stock market is down over 20% which is what signaled the bear market. I have no doubt that it will recover in time though.
"It should burn. It'll probably burn forever. But last season is done." - James Jones

"I want to be who I think I am." - Frank Kaminsky

"I don't think I've ever been that angry shooting a basketball." - Cam Johnson

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