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I also saw Elon tweeting about Dogcoin, its not even worth a penny, wonder if its worth tossing some money at?
i bought about 2600 shares of XRP before it was suspended, so far it's done ok but it's going to be a long haul for me. i'd kick myself for selling at double when in the next couple years it could go up like Ethereum. also i have no idea what the suspension is and what it means for my shares long term.
my dad is doing really good on Ethereum right now, but he's in the same boat and going the long distance route with it.
Bitcoin is nuts. makes a guy wish he would have taken some advice all those years ago.
The Shop
I still can’t imagine anyone truly wanting their currency to be that volatile.
I get the desire to want to trade it as a commodity and make day-trader riches, but thus far it’s still the equivalent of a high priced Pokémon to me.
Probably better than the alternative?
If something seems too good to be true, it usually is...
You simply don't understand money and scarcity. You see there will only ever be 21 million Btc created and at least 3 million of those are already lost. On the other hand the US dollar supply was increased by 25% in the past year alone.
It has to happen - right?
My plan is to play the long game and just stick 20-30 in one of the three here and there, and cut back elsewhere to cover it like not buying a coffe/lunch and making one that day.
Like gambling don’t bet what you can’t afford to loose.
If in 10years I’ve made a good profit brilliant, if the arse has fallen out of it, heh oh.
Bought more at $34,000 a month ago. have 2.3 BTC...it's now at
HINT!
Look into what each cyber does and invest wisely. Do your homework. COINBASE helps you with that. thats why they don't have Dogecoin on their site. it's junk.
Pit Row
So, I started a trading account on Robinhood (I'm planning on switching to Webull, or another eventually to take advantage of the extended hours). When I signed up, I threw a chunk of my savings into Dogecoin (DUMB LUCK) when it was .018 for no other reason than it was cheap and was being talked about on twitter. I sold most of it when it was .07 and moved all my profit into a few stocks that are supposed to have mergers the next couple months.
Granted, I'm a newb, and I'm learning by trial and error, watching videos, reading etc.. I've made some dumb decisions, and I knew it was going to happen, but like I said, I'm learning. Last week, I learned what a reverse split is...hehe
Anyway, I'm debating on pulling a good chunk and putting into bitcoin, and just forgetting about it. Are most of you here of the school that Bitcoin is the best bet of crypto? I know the others are considered "shitcoins", but having made a good chunk from a doge, it really does seem like bitcoin is the way most crypto experts lean..
Am I dumb for leaving part of money in Doge, and moving the rest to Bitcoin, or should I just pull it all after an Elon tweet and move it to Bitcoin when theres a good pull back? They all move almost the exact same minus a couple percent here and there. Or maybe spreading it through multiple's like Etherum as well?
I'm hoping to figure this out before the stimulus is released, as I personally know a few people that are planning on putting their stimulus directly into crypto and i'm assuming they're not the only ones lol
Today you’d only have about $486,000 worth of Bitcoin, or a decline of worth of about 15%. In 2 weeks.
That’s why Bitcoin isn’t close to being a true currency, there is simply no stability in any direction and absolutely no real predictability.
Don’t get me wrong, I think that some folks are going to make a lot of money taking it from folks who are playing with it, but it’s still not any more intrinsic or solidly valued than Pokémon are.
If anyone is interested in researching more Real Vision has a great YouTube channel and podcast channel that do quite a bit of crypto discussion. I’m very convinced that this is just the start, what we’re seeing before our eyes is the only way out of an obviously failing financial system that is headed toward a global reckoning. It’s not a coincidence that we have needed exponentially more global stimulus in markets and economies just to keep things afloat over the last few decades, what we’re seeing is the desperate attempt of financial institutions to combat the ever growing wave of deflationary technology. They’re all going to pump and pump and pump currencies to save the monetary system, but in the end it won’t matter, technology is going to take over.
Think about just what we have seen during Covid. All those simple manufacturing or service jobs (like toll booth operators, etc), ya those aren’t coming back, ever. And there’s more to follow. With the advances in AI happening at an exponential rate industries that we hold to be rock solid will be massively disrupted, and people are going to be displaced and permanently out of work in droves. We can choose to ignore what’s already happening and try to artificially pump economies via stimulus, low rates, and other feel good programs, but the only true way out that I see is bitcoin and other crypto. We finally have a way out of government controlled money and their fuckery, yet so many people still see it as “too risky”, to me putting my trust in a system that is guaranteed to fail is a lot riskier of a proposition than storing some value in a space that is only going to grow.
When are we going to buy houses, cars, load of bread at the local store with bitcoin? Is that something that is going to happen anytime soon?
It fascinates me, and i'm interested in it, i just cant wrap my head around how it works in practice
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