4 ms·

Same as me when I wanted to buy $20,000 at $230. Did not become a millionare...

asdfman123 8y ago
The problem is you don't know when to sell it. A friend of mine got super lucky with crypto, though, because he lost his password. He bought Ethereum when it was being hyped on Kickstarter and mostly forgot about it. At the end of last year, he saw the price, freaked out, and figured out how to crack his own password. So, he ended up buying at the lowest point and selling at a very high point, like $700. I think he made a few million on it.
- lozaning 8y ago
  $700 is closer to the midpoint of the historical price. Source: someone who should have sold at 1400 and joined the millionaire club.
- nawitus 8y ago
  You can sell gradually.
  - oligopoly 8y ago
    Yeah that's the way you buy&sell stocks if you are investing. Not just gambling
    - bonestamp2 8y ago
      And buy gradually too for that matter. There's no way to time a peak/dip so this obviously spreads out your cost basis in case you're buying at the peak. You can also look at it as dollar cost averaging and continue to buy it as it goes down, again reducing your average cost.
  - notheguyouthink 8y ago
    Or you sell for what you need, when you need it. Ie, if I had the coin I was debating buying (~1k coins), I wouldn't remotely need to sell them all now. I could retire off a small amount of them, there's no need to sell them all. I'd sell what gets me retirement now, and hold onto the rest - see where it takes me.
    - lozaning 8y ago
      Im looking to dump most of what I have in favor of investing in multi family real-estate. I got big into mining eth starting back in the test net days. It's paid for some dumb stuff along the way to where I am now, chartered helicopters to Macau, laps around the Nürburgring, ect, but the price of all this shit has become so decoupled from the underlying technology and mostly scams at this point that I want to own something "real".
prepend 8y ago
Same as my neighbor when ve wanted to buy $20,000 at $20,000. (Just wanted to add an example where the based saved some people)

The problem is you don't know when to sell it. A friend of mine got super lucky with crypto, though, because he lost his password. He bought Ethereum when it was being hyped on Kickstarter and mostly forgot about it. At the end of last year, he saw the price, freaked out, and figured out how to crack his own password. So, he ended up buying at the lowest point and selling at a very high point, like $700. I think he made a few million on it.

lozaning 8y ago
$700 is closer to the midpoint of the historical price. Source: someone who should have sold at 1400 and joined the millionaire club.
nawitus 8y ago
You can sell gradually.
- oligopoly 8y ago
  Yeah that's the way you buy&sell stocks if you are investing. Not just gambling
  - bonestamp2 8y ago
    And buy gradually too for that matter. There's no way to time a peak/dip so this obviously spreads out your cost basis in case you're buying at the peak. You can also look at it as dollar cost averaging and continue to buy it as it goes down, again reducing your average cost.
- notheguyouthink 8y ago
  Or you sell for what you need, when you need it. Ie, if I had the coin I was debating buying (~1k coins), I wouldn't remotely need to sell them all now. I could retire off a small amount of them, there's no need to sell them all. I'd sell what gets me retirement now, and hold onto the rest - see where it takes me.
  - lozaning 8y ago
    Im looking to dump most of what I have in favor of investing in multi family real-estate. I got big into mining eth starting back in the test net days. It's paid for some dumb stuff along the way to where I am now, chartered helicopters to Macau, laps around the Nürburgring, ect, but the price of all this shit has become so decoupled from the underlying technology and mostly scams at this point that I want to own something "real".

prepend 8y ago

Same as my neighbor when ve wanted to buy $20,000 at $20,000. (Just wanted to add an example where the based saved some people)