You should or should have put money in crypto because it offers huge returns and it’s a way to diversify your investments, I’m not sure what other reasons you need. You don’t need to believe that it’s the future or that it will revolutionize the world as we know it.
Most people here probably used 3 or 4 figures of their own money to get started (some were even under $100). If you have the spare funds available to do that there really isn’t any downside. If you happen to capitalize on those huge returns there is nothing that says you have to keep rolling it back into crypto. Take some out and stuff it back into index funds or bonds or cash or buy yourself a new house. Note that putting money in crypto does not necessarily mean buying BTC or ETH, a lot of people don’t seem to understand that.
Thats what my dad said when btc jumped from 29 to 67 dollars.
Yeah, it doesn’t necessarily means it currently is the best place, but how many times can we say it before we realize we’re being stupid not to invest?
Now is 100% the time for game stuff. Games NFTs are so hot right night. And most not on ethereum network so $800 is plenty to start as no crazy gas fees.
If we talkin’ limited edition sauces, I think you are super late on this. Did you not see people losing their minds over the special edition BTS sauces at McDonald’s? Probably should have stashed a few pounds of those away.
Even now, decades after the poker boom, multiple people come to my local poker room every weekend and drop a grand+. And they don’t even get a crappy picture of an ape to show for it. Lots of people hate themselves and want to waste money. NFTs are (apparently) a great venue to do that.
I’m going to mint crypto coins so people can own a part of my Virtual Boy when I die. I’m gifting my son 51%, though, so it will be up to him as to whether or not he wants to retain control.
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.
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?
