NFR Buy on the Crypto Dip?
- Thread starter krusty
- Start date
Non-fishing related
TicTokCroc
Sunkist and Sudafed
This will be the governments excuse to roll with FEDcoin, see you people can't be trusted, better let the government handle this crypto business. Then we lose all physical currency and all the freedom and privacy that goes along with it.
Yikes:
www.bloomberg.com
I can't actually read the article, here is where it was referenced: https://www.cnn.com/2022/11/11/business/sbf-wealth/index.html
(I know, I know ... CNN... fake news, that's why I linked the original article).
I don't really understand Crypto, I'm not afraid of it, I just don't understand it, so I stay away; I don't mess with things I don't understand (I call an electrician).
cheers
Bankman-Fried’s Assets Plummet From $16 Billion to Zero in Days
The entire $16 billion fortune of former FTX co-founder Sam Bankman-Fried has been wiped out, one of history’s greatest-ever destructions of wealth.
www.bloomberg.com
I can't actually read the article, here is where it was referenced: https://www.cnn.com/2022/11/11/business/sbf-wealth/index.html
(I know, I know ... CNN... fake news, that's why I linked the original article).
I don't really understand Crypto, I'm not afraid of it, I just don't understand it, so I stay away; I don't mess with things I don't understand (I call an electrician).
cheers
HauntedByWaters
Life of the Party
Just checked and Ethereum is worth approx. $1,300. As someone who went in at $20-30 a share I’m still holding.
I don’t get why people pile on crypto. The knee jerk to go, “I told you so!” Is palpable from the skeptics.
I don’t get why people pile on crypto. The knee jerk to go, “I told you so!” Is palpable from the skeptics.
I spent about $15,000 about 5 weeks ago and got it @ 1445.00 each.
Winner and losers.
RCF
Life of the Party
It appears Ethereum is down 70%+ from its high. One may be way up but the risk/reward of a downward trajectory could be taken into account also...
I read recently, 25% of the people in this country don't have a retirement plan. Working til they die is their plan?
37% of people with savings, don't and won't have enough money to retire and maintain their lifestyle.
Sad to think many people in this country are gonna work til death or retire and wait for death.
37% of people with savings, don't and won't have enough money to retire and maintain their lifestyle.
Sad to think many people in this country are gonna work til death or retire and wait for death.
TicTokCroc
Sunkist and Sudafed
I plan on working till death. I think most of us millennials have accepted our fate.
Speyfishingcowboy
Freshly Spawned
when in doubt triple up is my trading motto, albeit I traded Billions a day of Investment Banking money lol
this shit is worthless ponzi scheme but what the hell GMI - Get Me In
or GMO Get Me Out
... And the plot thickens, as they say
cheers
I guess I could have swam in the circles of Bezos and Buffet…yet I chose and still choose to burn my money on fly gear and trips
Dude looks like a younger Madoff.
TicTokCroc
Sunkist and Sudafed
Wow. So would these people have been ok if they had kept their funds in an offsite crypto wallet like Evan was explaining? Or they still lose their money.. or coin...
HauntedByWaters
Life of the Party
All the crypto advice from trusted people I knew said to get Bitcoin or Ethereum. Those were the two coins most likely to survive and be relevant long term. Ethereum is slightly more legit and rode the coattails of Bitcoin. Bitcoin is the best and first and is scarier to the establishment.
I get most of my stock advice from friends who are 10X smarter than me and work at connected tech jobs. If they say to jump I jump. My limit is 2-3 months worth savings scraping by. So several thousand dollars at a time. Never the main savings. It works and my strategy is to be a plodder. I keep my life simple and cheap so the money doesn’t mean much to me.
I think we all agree investing is not a casino gamble, it is a process that goes on for decades. For example, I have invested money in oil and lithium. It’s savings for me so what’s the difference. I may lower my ceiling but again I’m just sitting on it for now.
Nothing I have ever invested in has paid like crypto. That is why I am glad I turned it into a good chunk of equity in my home. People even razzed me about selling it because I lost money. I don’t get that style of investing. I’d rather take from the market when I can and buy real assets.
Most of my savings is in a 401K in the end. I hope that works out.
I get most of my stock advice from friends who are 10X smarter than me and work at connected tech jobs. If they say to jump I jump. My limit is 2-3 months worth savings scraping by. So several thousand dollars at a time. Never the main savings. It works and my strategy is to be a plodder. I keep my life simple and cheap so the money doesn’t mean much to me.
I think we all agree investing is not a casino gamble, it is a process that goes on for decades. For example, I have invested money in oil and lithium. It’s savings for me so what’s the difference. I may lower my ceiling but again I’m just sitting on it for now.
Nothing I have ever invested in has paid like crypto. That is why I am glad I turned it into a good chunk of equity in my home. People even razzed me about selling it because I lost money. I don’t get that style of investing. I’d rather take from the market when I can and buy real assets.
Most of my savings is in a 401K in the end. I hope that works out.
Yes.
But that comes with its own risks. As this fellow in Wales found out:
Half a Billion in Bitcoin, Lost in the Dump
For years, a Welshman who threw away the key to his cybercurrency stash has been fighting to excavate the local landfill.
Although at current prices, 8000 BTC is a measly $134M
EDIT: That New Yorker article is kind of a PITA to read. This one is more recent and I think better for info:
The quest to find $181 million in bitcoin buried in a dump
James Howells of Newport, Wales, shares his $11 million business plan to recover a hard drive with 8,000 bitcoins on it from a dump.
www.businessinsider.com
GOTY
Steelhead
“They Are All Equally Risky”: The Guy Who Saw the Collapse of FTX Coming Has a Warning
How a medical resident became the best chronicler of cryptocurrency scams.
This is a pretty interesting read.
