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invest when it does. it's gonna keep going up and down.

by jlebrech 9y ago

monochromatic 9y ago
Has the bubble burst when it hits $100? Or has the bubble burst when it hits $1?
- jlebrech 9y ago
  always keep money in reserve for when the bubble further crashes.
gr3yh47 9y ago
bitcoin has been rising to 400% and then falling to 50% in a pretty solid rhythm for a long time, and i'm kicking myself hard for not buying back when it was at 100 and then crashed to 50
- hackcasual 9y ago
  Might have lost it all due to an exchange going belly up.
  - koolba 9y ago
    I was thinking the same thing. Short of DIY cold storage, there's quite a bit of holding risk. Even cold storage has the risk of being held at gunpoint to transfer it over. It's akin to having a bunch of cash/gold buried under your basement. If anybody knows it's there, you better be ready!
    - hackcasual 9y ago
      Or you just have a HD die on you. Or it gets lost in a move.
- deleted 9y ago
  [deleted]
- louprado 9y ago
  > and I'm kicking myself hard Please don't do this. Don't look at two points on a chart, the low and high, and think your the one in a million person who would have traded at those points. That type of thinking fuels bubbles. With a speculative and volatile investment, you either get out immediately when it starts tanking or you take your 2-3X return and consider yourself smart and disciplined.
- deleted 9y ago
  [deleted]
- jandrese 9y ago
  I remember back when it was trading for pennies and you could reasonably mine with an AMD GPU. I thought it was all one big scam and would collapse any time now. I hadn't considered that drug dealers would keep the market going. I did correctly identify that most of the exchanges are incompetent and/or corrupt though. I wonder how much Satoshi is worth these days in BTC? Didn't he mine up a whole ton of coins back when it was trivial?
snikeris 9y ago
I'd hesitate to call it investing. More like speculating.
the_gastropod 9y ago
Let's call "investing" in currencies what it is: speculating.
- balladeer 9y ago
  Is that not what investing is supposed to be, in most parts; or entirely?
  - the_gastropod 9y ago
    While it's not black-and-white, investment implies low-risk where speculation implies high-risk. Betting that bitcoin will increase or decrease relative to the USD is very risky. Its own volatility is proof enough.
    - jandrese 9y ago
      I thought the difference was Investment is intended to improve the company's situation so that it performs better and kicks back some of the improvement to you. Speculation is just betting.
  - cocoa19 9y ago
    Not according to Benjamin Graham, the father of value investing: An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative
  - nemo44x 9y ago
    You may be confusing investing with "trading". Subtle but important difference.
sgspace 9y ago
Anyone who has ever purchased bitcoin and held on to it before this past month is sitting on some amazing gains. If you purchased bitcoin at the top of the bubble in 2013, despite being down for years, today you would be up around 100%.

invest when it does. it's gonna keep going up and down.

monochromatic 9y ago

Has the bubble burst when it hits $100? Or has the bubble burst when it hits $1?

jlebrech 9y ago
always keep money in reserve for when the bubble further crashes.

gr3yh47 9y ago

bitcoin has been rising to 400% and then falling to 50% in a pretty solid rhythm for a long time, and i'm kicking myself hard for not buying back when it was at 100 and then crashed to 50

hackcasual 9y ago
Might have lost it all due to an exchange going belly up.
- koolba 9y ago
  I was thinking the same thing. Short of DIY cold storage, there's quite a bit of holding risk. Even cold storage has the risk of being held at gunpoint to transfer it over. It's akin to having a bunch of cash/gold buried under your basement. If anybody knows it's there, you better be ready!
  - hackcasual 9y ago
    Or you just have a HD die on you. Or it gets lost in a move.
deleted 9y ago
[deleted]
louprado 9y ago
> and I'm kicking myself hard Please don't do this. Don't look at two points on a chart, the low and high, and think your the one in a million person who would have traded at those points. That type of thinking fuels bubbles. With a speculative and volatile investment, you either get out immediately when it starts tanking or you take your 2-3X return and consider yourself smart and disciplined.
deleted 9y ago
[deleted]
jandrese 9y ago
I remember back when it was trading for pennies and you could reasonably mine with an AMD GPU. I thought it was all one big scam and would collapse any time now. I hadn't considered that drug dealers would keep the market going. I did correctly identify that most of the exchanges are incompetent and/or corrupt though. I wonder how much Satoshi is worth these days in BTC? Didn't he mine up a whole ton of coins back when it was trivial?

snikeris 9y ago

I'd hesitate to call it investing. More like speculating.

the_gastropod 9y ago

Let's call "investing" in currencies what it is: speculating.

balladeer 9y ago
Is that not what investing is supposed to be, in most parts; or entirely?
- the_gastropod 9y ago
  While it's not black-and-white, investment implies low-risk where speculation implies high-risk. Betting that bitcoin will increase or decrease relative to the USD is very risky. Its own volatility is proof enough.
  - jandrese 9y ago
    I thought the difference was Investment is intended to improve the company's situation so that it performs better and kicks back some of the improvement to you. Speculation is just betting.
- cocoa19 9y ago
  Not according to Benjamin Graham, the father of value investing: An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative
- nemo44x 9y ago
  You may be confusing investing with "trading". Subtle but important difference.

sgspace 9y ago

Anyone who has ever purchased bitcoin and held on to it before this past month is sitting on some amazing gains. If you purchased bitcoin at the top of the bubble in 2013, despite being down for years, today you would be up around 100%.