imagine saying a single Elon tweet would push the price vertically with zero corrections 4k in a few hours LMAO

#1 investment strat, follow elon, get a bell notification any time he mentions BTC or DOGE, buy and sell the pump. i got onto the Elon news hours late and still made 12%

Do you ever recall reading or hearing Peter Lynch talking about how if you can't explain it quickly and keep the attention of a 5th grader you shouldn't be investing in it? He goes on to talk about how if you don't understand the business how will you know when it dips if you should buy more. Back in time statistics used to actually show that people who invest in the companies of the products they use daily on average beat out mutual fund managers. I don't know if that is true today.

That is how I feel about cypto. I know I am likely losing out on one of the biggest momentum moneymakers since the internet. I can live with it though. Occasionally I stray and index funds obviously hold companies that I have no idea what's happening.

I am a boomer through and through.

This post was edited by SBD on Feb 12 2021 09:41am

Warren Buffet turned down investing with Bill Gates and preferred chewing gum. zero issues with that type of strategy and i agree that u shouldnt invest in anything you dont understand the fundamentals of.

hell, i had to really dig deep into what crypto was before i went head over heels. its the fact that we've only begun to get use cases of crypto block chain tech that really intrigues me. if its worth this now, with this little on the block chain, what will real adoption do to the price? and think of the fact that big companies looking to get into it as a payment method all but ensures said adoption, imo. the biggest looming factor for me is what happens when a block chain other than BTC be it eth or another coin explodes while BTC is left being only a brand name? will BTC ever even hit 100k if so? likely not.

eth imo is the best investment long right now, 2k price is nothing compared to where it could go. hell investment firms forking over millions to stake in eth 2.0 is all the confidence i need that its going 5k+.

but ya overall im driven by the idea that im betting against a new emerging technology on gut feel. thats my biggest drive. and the fact that i can swing trade it with zero day trader restrictions and no fees on RH.

Bitcoin has a fixed supply and you transfer values from one wallet to another. You cannot double-spend, you are pretty much immune to hacks, and the network hasn't been hacked or breached. (Read about SHA-256)

The reason why people like Bitcoin is because you don't need a third-party or centralized entity to control/send/be online for you to transfer your funds. It's also a hedge against inflation, because there's a built-in proof of work (mining) system that half the reward every ~4 years.

Hopefully that's easy for a 5th grader to understand. Been up for like 24hrs and typed that like I would explain to someone who came up to me and asked. LMK

This is kind of my take on blockchain and cryptocurrencies. Do I understand the vast majority of how it works? No. But I do understand the disruptive nature of some of the technology that's coming out of there for the business world. At least to some extent. For example, what if there is some technology that can pull real-time data from the web and create smart contracts, meaning your contract is based on the most recent info instead of week or month old data? There is absolutely value in such a tool for a range of industries. Insurance, medical, etc.

Instead of some company like Oracle or Microsoft owning that tech and making money, ownership is decentralized through a coin which is the protocol that runs that tech.

I should have invested in crypto much earlier but I still think we are in the early stages of adoption. We may not be in the 2.5% which are the innovators but I think we are in the 15% of early adopters because this tech is still not mainstream.

Personally, I don't have much money in crypto but looking to allocate more. Even if I was fully allocated it wouldn't be over like 5-10% of my entire portfolio.
Why not throw some change in it? Let's say you throw in 1%, it's possible you could lose that 1% completely (which is becoming increasingly unlikely because the adoption by legit entities is becoming more prevalent by the day) or it's possible that 1% can give retard gains because we're still so early in the tech application. And I'm speaking in broader terms, not just Bitcoin. I'm building a small basket of crypto where all I need is just one of them to be the winner for me to come out in the black.

$53k

$1t market cap!

54K

Grats on everybody in BTC lol

i'd suggest u get on binance and dabble yourself, or even buy in on RH for long positions. but tbh im starting to sense an end to the bull season. although id be happy to be wrong. i'd say better to wait on a correction if you're interested.