10 ms·

Yeh sure, made me lots years ago, also cost magnitudes more their life savings. It doesn't sound like OP is looking for gambling.

bdcravens 6y ago
I agree that Bitcoin isn’t a smart investment due to volatility. However would someone be similarly criticized for suggesting someone start or work for a startup? To me they have a similar risk profile.
WrtCdEvrydy 6y ago
Not really, as far as four months ago, Bitcoin was at 8k per coin... today it's around 11k per coin, it's about 30ish percent profit. Edit: Unless you bought 11k+ and sold below that point, there's no chance you lost on Bitcoin.
- overcast 6y ago
  So? You could have dumped money into ANY of the big tech four months ago and been up WAY more than 30%. The S&P500 index alone is up more than 30% since the crash. Bitcoin peaked at 20k in December of 2017, and dropped to $3100 exactly a year later. Seems like anyone investing at the top, and there were LOTS of inexperienced mom and pops doing so, are down at minimum 50%. Without any type of dividends or stock in a real company.
  - Sschellbach 6y ago
    Do you actually think there was a lot of volume for Bitcoin at 20k? A handful of people even bought Bitcoin at the 20k level. It was only trading at prices that high for a few hours
    - overcast 6y ago
      Yes I do. Significantly more so than the weeks/years since. There was weeks and weeks of heavy volume, as it declined to $3000. If you bought over $10k, you've had money tied up doing nothing for 2.5 years in nonsense. Prices don't go parabolic like that unless dumb money gets involved, and subsequently wiped out. https://www.tradingview.com/x/73konLcD/ https://www.tradingview.com/x/73konLcD/
      - Sschellbach 6y ago
        your chart has a couple candles, but doesn't address my point that very little volume was transacted at 20k. People aren't going to stop storing value on the Bitcoin network, so I suggest you lighten up
        overcast 6y ago
        There is weeks / months of volume well above the current price. No one is “storing value” in Bitcoin. They are speculating, hoping the value goes up enough to unload on the next sucker. It doesn’t take a rocket scientist to look at your comment history, and see you’re a shill for garbage investments.
        WrtCdEvrydy 6y ago
        No one is “storing value” in housing. They are speculating, hoping the value goes up enough to unload on the next sucker. It doesn’t take a rocket scientist to look at your comment history, and see you’re a shill for fiat investments.
- throwaheyy 6y ago
  Not really, you can double your money at the casino too, doesn’t mean it’s not gambling. It’s the risk and volatility that separate investment from gambling, not the return. Bitcoin is firmly in the latter territory.
  - harveywalters 6y ago
    Bitcoin is not a bad thing, but the hype associated with it is slowly fading away
  - ameliacook 6y ago
    I played in an online casino, but there is never stability here, you either know how to play or study for a long time through your own mistakes
  - josephbryant 6y ago
    Friend, I understand your problem. But the reason is simple online casinos have long become a priority over offline. I play on: https://elroyalecasino.com/online-craps-real-money https://elroyalecasino.com/online-craps-real-money online craps for real money. Safe and fair. Therefore, stories like yours are excluded

bdcravens 6y ago

I agree that Bitcoin isn’t a smart investment due to volatility. However would someone be similarly criticized for suggesting someone start or work for a startup? To me they have a similar risk profile.

WrtCdEvrydy 6y ago

Not really, as far as four months ago, Bitcoin was at 8k per coin... today it's around 11k per coin, it's about 30ish percent profit. Edit: Unless you bought 11k+ and sold below that point, there's no chance you lost on Bitcoin.

overcast 6y ago
So? You could have dumped money into ANY of the big tech four months ago and been up WAY more than 30%. The S&P500 index alone is up more than 30% since the crash. Bitcoin peaked at 20k in December of 2017, and dropped to $3100 exactly a year later. Seems like anyone investing at the top, and there were LOTS of inexperienced mom and pops doing so, are down at minimum 50%. Without any type of dividends or stock in a real company.
- Sschellbach 6y ago
  Do you actually think there was a lot of volume for Bitcoin at 20k? A handful of people even bought Bitcoin at the 20k level. It was only trading at prices that high for a few hours
  - overcast 6y ago
    Yes I do. Significantly more so than the weeks/years since. There was weeks and weeks of heavy volume, as it declined to $3000. If you bought over $10k, you've had money tied up doing nothing for 2.5 years in nonsense. Prices don't go parabolic like that unless dumb money gets involved, and subsequently wiped out. https://www.tradingview.com/x/73konLcD/ https://www.tradingview.com/x/73konLcD/
    - Sschellbach 6y ago
      your chart has a couple candles, but doesn't address my point that very little volume was transacted at 20k. People aren't going to stop storing value on the Bitcoin network, so I suggest you lighten up
      - overcast 6y ago
        There is weeks / months of volume well above the current price. No one is “storing value” in Bitcoin. They are speculating, hoping the value goes up enough to unload on the next sucker. It doesn’t take a rocket scientist to look at your comment history, and see you’re a shill for garbage investments.
        WrtCdEvrydy 6y ago
        No one is “storing value” in housing. They are speculating, hoping the value goes up enough to unload on the next sucker. It doesn’t take a rocket scientist to look at your comment history, and see you’re a shill for fiat investments.
throwaheyy 6y ago
Not really, you can double your money at the casino too, doesn’t mean it’s not gambling. It’s the risk and volatility that separate investment from gambling, not the return. Bitcoin is firmly in the latter territory.
- harveywalters 6y ago
  Bitcoin is not a bad thing, but the hype associated with it is slowly fading away
- ameliacook 6y ago
  I played in an online casino, but there is never stability here, you either know how to play or study for a long time through your own mistakes
- josephbryant 6y ago
  Friend, I understand your problem. But the reason is simple online casinos have long become a priority over offline. I play on: https://elroyalecasino.com/online-craps-real-money https://elroyalecasino.com/online-craps-real-money online craps for real money. Safe and fair. Therefore, stories like yours are excluded