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How did he lose the money? Did he sell the bitcoin? Stop the bs.
by tigrezno 4y ago
How did he lose the money? Did he sell the bitcoin? Stop the bs.
- nicbou 4y agoHe bought when it was worth far more. At the current value of Bitcoin, his investment has not paid off. Unless you expect Bitcoin to return to this valuation, the money is as good as lost.
- graeme 4y agoHe certainly bought substantially less bitcoin than he could have bought, had he waited to do so. So you could say his investing skills measured in either bitcoin or dollars are poor to date.
- satvikpendem 4y agoWhy are you implying that unrealized losses are not still losses?
- 0xy 4y agoHave you profited money if the price of one of your assets doubles and you do not sell?
- satvikpendem 4y agoI have.
- kman82 4y agoYes. Absolutely. Paper losses/gains are real
- Quindecillion 4y agoWhat do you think "realised" and "unrealised" mean?
- boopboopbadoop 4y agoI’m just a sideliner with popcorn, but don’t they use Bitcoin as a currency? So it seems like in that context, they swapped some of their currency (fiat) for their other currency (Bitcoin), which subsequently lost 60% of its value.
- Quindecillion 4y agoIn fiat terms, yes. The loss is only realised once you convert the Bitcoin back to fiat. The reason it is "unrealised" until that point, is that you could instead simply hold until/if the price of Bitcoin (priced in fiat) rises past the level you bought it at, and still sell at a profit (in real terms if you account for inflation, or in nominal terms if you don't). Then that would be a realised profit. Hence the distinction between unrealised and realised.
- boopboopbadoop 4y agoWhat I’m saying though is that their endgame is not to convert it back to fiat. It’s a currency for them. They’re not hodl’ing their bread money.