Hasn’t crashed in its 8 years existence why would it now

back when you could buy on coinbase with creditcards in 2017 guy i played wow with maxed out his cc (he said it was like 18k limit) on btc and eth. this was when btc was like 1500 and eth sub 100. fairly sure he paid it off that summer and if he hodl till now he prob sitting pretty

that said i don’t encourage such moves unless you can afford to lose or you have the stomach for it. no risk no reward!

as i said, its a ponzie scheme, the early movers get the biggest benefit on low initial capital cost and then when the price is driven up they are inherently bias on what they are going to say lol.

the new investors are the ones holding the bag.

whether it has crashed or not isnt the point, significant swings in the price clearly don't benefit those who got in later, especially if the price swings lower. if people are trading with your mentality and bite off more than they can chew, what do they do when they gambled away funds they need for rent, food, etc.?

what are their options then? back to our point - the 9-5 job lol.

Don't think I'd advocate for a low income individual maxing debt sources to invest in equities. If you're young and a high income earner who can quickly cover sure go for it but I don't think I'd gamble it on highly speculative stocks

yoloing $50-$100 and hitting gold over a period of time is one thing. levering oneself to the hilt is another. speculation is how everyone who has originally built generational wealth has gotten it though.

imo there’s a happy medium here

Investing a significant amount of money in a single solid investment is a huge risk. A lot could go wrong, and the future is inherently unknowable.

Yolo'ing your financial future on a ponzi scheme / joke currency is beyond retarded and you deserve what you get. In this case, "what you get" is a lifetime of poverty and wage labor.

BTC / ETH may have promising futures, but there is likely a huge immediate price correction on the horizon.

Doge is a literal joke getting pushed up because ???. Buying tulips in 1637 was a better investment. If you are caught holding the bag you will be left with nothing.

or it can be your key to financial freedom. this ponzi scheme/ joke currency has provided me with 15 years worth of working a 100k a year job

U.S. has that but it's for way longer than 3 months lol...

Especially during this pandemic. There are people making good money on unemployment for a year now.

This post was edited by Sixers on Apr 20 2021 10:19pm

Any speculative bubble brings early adopters "financial freedom", but the nature of a bubble ensures that there will be far more losers than winners, and without any underlying value, the collapse will be swift.

If you were lucky enough to speculate on a joke currency through some regrettable gambler's impulse and make $1.5 million, I would encourage you to sell the entirety of your "investment", pay off your considerable capital gains, and invest in a basket of financially solid, dividend paying stocks with enough in cash equivalents to last 2-3 years. Or better yet, hire someone competent to do this for you.

I was told this exact thing by family/ friends/ advisors when I hit 1,000$.. 5,000$.. 10,000$ etc.
Same thing with my bitcoin.. if I listened I’d be a broke 100k in debt college kid wage slaving my entire life.
This is why most people don’t make it, they can’t hodl and have bad influences telling them sell