Investing in Bitcoin
- Thread starter Xxplosive
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Xxplosive
Well-known member
Fuck posted in the wrong section. Mods, can you please move?
blacksheep115
Well-known member
Dollar cost avg in. Don't buy in large chunks. btc is going through a halving in April. So it's going to be pretty volatile. I'm expecting a pull back in next 2 weeks before it continues up.
Don't try to buy in at top/bottom. Buy daily, weekly, etc.
Don't try to buy in at top/bottom. Buy daily, weekly, etc.
Xxplosive
Well-known member
Do you fuck with any of those other ones like litecoin, ethereum, etc? My old boss who killed it with btc and is very savvy financially said he just buys straight up btc
blacksheep115
Well-known member
Really only other one I mess with is Binance Coin because most of my online gambling uses it
I think there are going to be lots of valid crypto coins in the future but also lots that will go bunk. Crazy money can be made but crazy money can be lost too.
Xxplosive
Well-known member
Really only other one I mess with is Binance Coin because most of my online gambling uses it
I think there are going to be lots of valid crypto coins in the future but also lots that will go bunk. Crazy money can be made but crazy money can be lost too.
Do you know anything about stocks? I just threw a few grand into a few big AI/tech companies , i didn't realize you could buy and trade stocks on Cash App so fucking easily
Duraballs
Well-known member
Its all about risk tolerance. For me DCA is not ideal for crypto due to the volatile nature of the market and its too safe in a sense for my personality. For example this month, BTC is up 13.5%. The fed rate for a 1 year CD topped out at around 6%, and depending on the CD you cannot touch that money without penalty until the CD matures. On Feb 12, BTC was around 51k, i didnt see it dropping below 50k so i bought in. I told myself ok, when this hits 65k, im out. That happened the first week of March, eventually topping out at 72k ish. So did i leave some profit on the table, yes, but i captured a big return in less than a month. Now you have to pay attention to the market analysis from "experts" but its much like gym advice where i say "hear everything and listen to nothing". Many are calling for BTC to hit 100k per coin by July while others see a retraction to 50k.
The market has changed significantly recently since the introduction of ETF's (spot). So many "investors" have tried applying typical KPI's and outdated methods to take advantage of trends and its not ending well for them. So many things affect crypto, geo political events, regualtion, FED rates, Forex, value of the dollar etc. Its so speculative that nobody "knows anything".
A simple way to look at it is if you are bullish on BTC or crypto long term and you want to play safe then DCA is a good play. The returns will not be as high in the short term, especially because you wont be selling and taking profits but rather holding. If you are more aggresive in nature and are looking for larger returns with potential short term downside then buying on a dip and exiting, picking and popping is the move. The truth is both sides can and have won with crypto. If you have been doing DCA since BTC was 1k and you never sold- you are doing VERY well. Same goes for those who bought on the dip and weathered the short term downsides.
These sources are making out like bandits. They offer you a crypto discount not only because its safer for them, no collector etc, but they feel long term crypto is going to continue to rise and they have been right, in a BIG way. So if you look at it that way, since BTC was a payment option, lets just go back to 2015-18 the price for a coin was less than 1k, never holding about 10k till mid 2020. Today its 70k! Where else in the world can anyone get even a fraction of a return like that? So if these sources just kept the crypto in their accounts they have become extremely wealthy and the pittance of a discount you received was a great lure for their investment. Cant blame them, its dog eat dog and business is business. I get a kick out of it when a source says "doesn't matter when you pay just send crypto". That's right it doesn't matter because in the long run you are losing big time had you just held your crypto and paid by another means.
The market has changed significantly recently since the introduction of ETF's (spot). So many "investors" have tried applying typical KPI's and outdated methods to take advantage of trends and its not ending well for them. So many things affect crypto, geo political events, regualtion, FED rates, Forex, value of the dollar etc. Its so speculative that nobody "knows anything".
A simple way to look at it is if you are bullish on BTC or crypto long term and you want to play safe then DCA is a good play. The returns will not be as high in the short term, especially because you wont be selling and taking profits but rather holding. If you are more aggresive in nature and are looking for larger returns with potential short term downside then buying on a dip and exiting, picking and popping is the move. The truth is both sides can and have won with crypto. If you have been doing DCA since BTC was 1k and you never sold- you are doing VERY well. Same goes for those who bought on the dip and weathered the short term downsides.
These sources are making out like bandits. They offer you a crypto discount not only because its safer for them, no collector etc, but they feel long term crypto is going to continue to rise and they have been right, in a BIG way. So if you look at it that way, since BTC was a payment option, lets just go back to 2015-18 the price for a coin was less than 1k, never holding about 10k till mid 2020. Today its 70k! Where else in the world can anyone get even a fraction of a return like that? So if these sources just kept the crypto in their accounts they have become extremely wealthy and the pittance of a discount you received was a great lure for their investment. Cant blame them, its dog eat dog and business is business. I get a kick out of it when a source says "doesn't matter when you pay just send crypto". That's right it doesn't matter because in the long run you are losing big time had you just held your crypto and paid by another means.
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Xxplosive
Well-known member
This is all excellent advice and perspective, and along the same lines of how i always operate. Some of the "experts" sound smart, but i question how much they are talking of their ass, as if it was that simple, everyone would just simply listen to them and nobody would lose.
Stocks look like they are more predictable, honestly, btc seems random af and anyone with 2 eyes can just look at what direction the needle is going.
i dont "need" immediate returns, but it would be nice to make back the money i put in so im just playing with house money.
Do you have an opinion on AI/tech stocks? I put small amounts ($1-2k) into a few different top AI companies like NVIDEA and Advanced Micro Devices. I know NVIDEA has already gone through it's massive surge, but looks pretty stable with potential for a lot of growth still. I got about 4k in btc right now.
Duraballs
Well-known member
We saw a nice little reset today in BTC. My guess is the long players were squeezed for their leverage. With the halving coming up in mid to late April im looking out for another dip-58-63k'ish before that. We have seen these "priced in" moments when BTC gets a spike a few days ahead of events like this and the ETF approvals followed by another "breakout" 3-8 days AFTER. With all of that said i will also watch the stock market for any bull market acceleration as BTC has followed those tail winds so many times. Again, all a guess, purely speculative. Its anyones guess. I try to make the best educated guess.
* this is NOT investment advice- speak to a professional. LOL
* this is NOT investment advice- speak to a professional. LOL
JustinWK
Well-known member
If you think gaming is what is driving Nvidia's stocks, you're in for a delightful surprise
They've nestled themselves as a pioneer of a little thing called AI.
BlackIron220
Active member
If you're interested in investing it BTC you can also buy $BITO or other ETF's. Or $GBTC. $ETHE for ETH... I would not be buying at these levels tbh. If you're holding long-term, its best to buy when its oversold.
You wanna pay full price or get a discount?
ETF's and/or $GBTC/$ETHE are much cheaper to trade/invest in too. Almost free actually, like with stocks these days, depending on broker
You wanna pay full price or get a discount?
ETF's and/or $GBTC/$ETHE are much cheaper to trade/invest in too. Almost free actually, like with stocks these days, depending on broker
BlackIron220
Active member
Daily chart of $BITO. $13 to $33 this year. They also have Options too but if you're not familiar w Options, they have time decay. Options move muchhh more percentage-wise
Xxplosive
Well-known member
I just put about 12k in stake on AMD and NVIDEA, 2 huge AI/tech companies.
Btc is down about 6% right now- should i wait til it drops to around ~10% to strike? My buddy also said its going to have, he told me exactly 20 days after Easter, so id like to pull the trigger on 5-10k more before that and then just let it sit through the summer at least.
Xxplosive
Well-known member
Just curious, but what is the point of using a broker when you can just do if on CashApp?
Duraballs
Well-known member
It makes me smile that we have brothers who are smart enough or at least capable of investing. I have one simple rule, its like the line from Scarface, "you dont get high on your own supply", i never tell anyone what they should or shouldn't do. I learned that the hard way by listening to a close friend of mine in my early years who didnt know what he was doing or saying and it kept me captive to his approval and stunted my growth. I still cant let go of some of the opportunities i missed when i listened to him rather than following my own intuition. FB,MSFT,AAPL, all examples. I was looking at call options and had i made my trades, lets just say i wouldnt have been eating canned tuna and non organic produce for years back then. Instead, now I wait until after i make a trade and if asked i share my positions. I will never do what that fool did to me. BTW, we are still friends. lol. I call him "the idiot".
I'm not sure how old you are or how much experience you already have but I can tell by the way you are thinking that you have an interest in investments and you realize strategy is a part of it and I trust that experience will dictate your success. You have to learn from mistakes and strengthen your weaknesses, much like what you do to attain your physique and all that goes into beyond just lifting weights and taking gear. At least thats how things SHOULD work in this business. I hope i dont sound condescending or like I have a big head. I find being positive and supportive is the best way to approach any conversation, some people can take that the wrong way.
Xxplosive
Well-known member
If you think gaming is what is driving Nvidia's stocks, you're in for a delightful surprise
They've nestled themselves as a pioneer of a little thing called AI.
AI literally has endless possibilities. Hopefully the terminators allow us to keep our stake in the company after Judgement Day.
NVIDEA is priming itself to be the Microsoft of AI.
Xxplosive
Well-known member
Again, even in humility, you give excellent advice and think like me. I was taught by a mentor "It's always worth a conversation", but that doesn't mean im gonna do everything i hear. I think at least having the perspective to think it through holds a lot of value.
I'm 40 years old and im a commercial real estate broker- my niche is net lease investment industrial properties. A big part of my job is analyzing the lease abstract on investment properties and underwriting the credit of the tenant, then evaluate the physical property, compare it with the comps and put a value on it. And then analyze the deal from a buyer's perspective with a bunch of complex math equations.
I'm hoping to use stocks/btc to raise capital to purchase my own commercial net lease investment properties- the returns are much more stable when you have a credit tenant ie Amazon, McDonalds, CVS, Taco, etc, and it is secured by actual tangible real estate.