But if you’re not convinced that crypto is any different than tulips or other past manias, then you don’t see it as an investment, but as a bubble that’s going to pop someday.
I’m not saying that view is correct. It’s the one I hold, but I could be wrong. But the point is to me crypto is not an investment, it’s a pyramid scheme. At least when there’s still this much buzz and craziness around it. When it gets boring and unsexy, then I might change my mind.
If there is a principle about anything in here, it’s not about crypto, it’s about being early. Always be early. Like Ben Affleck says in Boiler Room you gotta know the ABCs–always be closing–for this kind of stuff it’s know your ABEs. Beanie Babies, Pokemon cards, Microsoft stock, Bitcoin, doesn’t matter. ABE.
You can even see the timeline play out in the first thread on this here. While some people were laughing and trying to explain how dumb it was, other people were saying “ok maybe it’s dumb but seems like more people are gonna want this so we should buy it.” Maybe now isn’t a great time to get in, I dunno. Could have said the same thing a year ago too though.
And if you can’t be early, don’t play.
But as Yuv points out, you can think you’re late to the party when crypto is $67. You never know how crazy things are going to get.
Maybe BTC goes to $1M. But one thing that always plays out is that once people lose hope of it going to the moon, it will crash. It’s not worth holding something that risky w/o the hope of a quick double up, or a 10x within a year or two.
Invite me please I promise to be nice and share all the knowledge I get from the nice man at the Toyota dealership who showed me his Disney NFT multiverse things
I think most of the peeps here largely agree. It’s the diamond hand bros on Bitcoin subreddits who won’t ever cash out in time that will be the ones really holding the bags.
Lol tulips, I would have bet my entire SCAME CRYPTOZ roll that was coming. You just don’t get it Suzzer which is fine i guess but also baffling to me. If you weren’t so damn stubborn you could already be retired and living your nomad Latin American life without ever having to worry about money again.
You can still be early every single day though, so I have no idea what you’re talking about. Obviously no one knows exactly what’s going to happen. Do you even gamble?
21 trillion dollar market cap = roughly half of all fiat in the world. Seems problematic.
So all of you have Beetle like ROI? Pretty dope. I was of the opinion it was a zero sum game and there were plenty of losers to go around. Good for you all.
in·vest·ment
/inˈves(t)mənt/
the action or process of investing money for profit or material result
Definition of invest
(Entry 1 of 2)
1: to commit (money) in order to earn a financial return
A bunch of us started staking a game this month and everybody who’s been in it for over a week has ~doubled up already.
Until the point that youre late
I doubt Beetle has the highest ROI but he’s one of the top earners. The answer to your question is no but I know suzzer has said he’s almost retired anyway and this could have easily pushed him over the edge and padded his retirement funds.
Of course there are tons of losers to go around in this space, I said that in a previous post. The whole point of the discord is to help each other not be a loser and it has worked.
Looks like you can get for $10 (assuming these are real).
https://www.ebay.com/itm/125090175461?hash=item1d1ff499e5:g:RLcAAOSwdthh2ZQg
The threads sort of merged but there are really two different discussions happening that are being conflated. One is about cryptocurrencies like bitcoin while the other is really just about collectibles, so the posts that are along the lines of “collectibles are bubbles which is why bitcoin is going to crash” are pretty silly. I really don’t feel like currencies themselves having long-term viability will dictate whether digital collectibles exist and are valuable in the future.
I’m sure the anti-tulip people heard the same spiel. I know the dotcom bears did. This time is different. You just don’t understand the new paradigm. Get out of the way or get run over old man.
Sure I gamble. I’ve more than doubled my nest egg since covid. I made an 8-bagger on AMC (totally by accident). I’m still holding cruise ship and oil company stonks.
And I don’t really believe in stonks either. Stonks are probably going to crash someday as well. I’m just hoping the US money printer outlives me.
But I understand stonks and their patterns - just like you guys to with crypto. Since I’ll always be way behind the curve with crypto, I’m just not going to play.
Stop thinking in web2 terms like “dollars” and “market cap”. We’re rewriting the rules of economics here.
Probably easier to get help in discord (there are a few steps and people will be happy to walk you through every one). If you want to do games, I probably wouldn’t send direct to MM but instead something like a Kucoin account. You’re going to need to get the funds on whatever chain the game is on, so it just adds transaction cost to send to MM eth wallet first.
