GroovyGuru

Is investing in Crypto just a get rich quick scheme?

215 posts in this topic

I have crypto just because there is no better option. I don't want all of my money in fiat currency. It is either fuck or get fucked. Sometimes there is no in between.


In Tate we trust

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2 minutes ago, StarStruck said:

I have crypto just because there is no better option. I don't want all of my money in fiat currency. It is either fuck or get fucked. Sometimes there is no in between.

There is real estate, stocks, etc.

If you want a solid investment look into real estate.


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Just now, Leo Gura said:

There is real estate, stocks, etc.

Those will be heavily devaluated during a market crash. Especially real estate here in Europe: it is heavily overpriced and artificially kept high by the banking system. Even they admit the situation is not sustainable on the long term.


In Tate we trust

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25 minutes ago, StarStruck said:

heavily devaluated during a market crash

Real estate keeps its value very well and even adjusts for inflation because everyone needs it. Crashes are temporary and nowhere near as bad as a BitCoin crash. A BitCoin crash would wipe out your investment in one week. Real estate will never do that. At most it crashes 20-30%, and then rebounds after a few years and such crashes happen once a decade or less.


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41 minutes ago, StarStruck said:

I have crypto just because there is no better option. I don't want all of my money in fiat currency. It is either fuck or get fucked. Sometimes there is no in between.

Stocks tend to protect against inflation as well as they move in line with inflation. There hasn’t been a 10 year period in stock market history where you would have lost money in a fully diversified market portfolio.

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49 minutes ago, Leo Gura said:

No, BitCoin has way more merit and value than stupid tulips.

BitCoin can serve as a global digital gold reserve. That's a pretty big deal.

Of course it can still be over-hyped, but it does have merit. We just don't know what it's ultimate value will settle at and which crypto coin will come out on top.

this is speculation. you're conflating the future potential of what the technology/crypto currency will be and bitcoin. I said it in my earlier post. I am not talking about the potential of crypto. I am talking about bitcoin specifically. who knows what crypto and the subsequent systems around it will be in 50 years. in the mean time though all these ploys for it are pump and dumps with winners and losers. 

Edited by Lyubov

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19 minutes ago, Lyubov said:

this is speculation. you're conflating the future potential of what the technology/crypto currency will be and bitcoin. I said it in my earlier post. I am not talking about the potential of crypto. I am talking about bitcoin specifically. who knows what crypto and the subsequent systems around it will be in 50 years. in the mean time though all these ploys for it are pump and dumps with winners and losers. 

No

Markets are forward-looking. People are looking to get in on the ground floor of an important new technology. BitCoin is not some future potential. It is already here. If the full potential of digital currency is ever realized it will be worth trillions. But it is not clear how or when this potential will be realized. BitCoin may not be able to do it.


You are God. You are Truth. You are Love. You are Infinity.

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9 minutes ago, Leo Gura said:

No

Markets are forward-looking. People are looking to get in on the ground floor of an important new technology.

Buying bitcoin cause you think you can sell it off in a year or two at triple of what you bought it for is not venturing into new technology, it's speculation. It's a poor distinction if you consider what is happening now as investing. no steady returns, no stability, no current foresight for a continued progression of this currency. if the entire market was getting behind it and working to accept it as payment, google developing something around it, etc and a container being built around it at the same pace of it's value rising I would be saying otherwise. As of now it is a pump and dump gamble. Don't be so foolishly slow to learn. You remember 2017? we will see this same trend continue a few times until in plummets to the value of Zimbabwe dollars and then see the tech behind it reemerge in a new form as a legitimate currency, decades away from that. In the meantime we will see these trends continue. It's currently the perfect pump and dump because it has the narrative of "future tech" behind it which is something society currently values.  

Edited by Lyubov

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@Lyubov  I would suggest looking into the workings of this bull cycle before comparing it to 2017, it's different in a number of ways. 

The main difference being the last cycle was perpetuated by mainly Retail Investors (me and you), whereas, this cycle is the first true bull cycle where Institutions & Whales (Talking billions of $$) who are not only buying during the dips (such as the dip to 33.5k we saw the other day) but also buying consistently, and then once BTC stabilizes for a period, the money will flow into ETH & other Alt coins. 

Have you actually looked into the tech behind not just BTC but a lot of other Cryptocurrency?

I for one am not in this game for short term profits. 


'One is always in the absolute state, knowingly or unknowingly for that is all there is.' Francis Lucille. 

'Peace and Happiness are inherent in Consciousness.' Rupert Spira 

“Your own Self-Realization is the greatest service you can render the world.” Ramana Maharshi

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2 hours ago, Leo Gura said:

Real estate keeps its value very well and even adjusts for inflation because everyone needs it. Crashes are temporary and nowhere near as bad as a BitCoin crash. A BitCoin crash would wipe out your investment in one week. Real estate will never do that. At most it crashes 20-30%, and then rebounds after a few years and such crashes happen once a decade or less.

I'm not in the position to buy a house anyway, but if I was in that position I would wait for that 20-30% market correction. Also not all real estate markets are not the same. In west Europe, mortgage system is going to bust, and after the reset, people won't be able to get the same loans anymore, pushing the market prices to decline.

1 hour ago, Joel3102 said:

Stocks tend to protect against inflation as well as they move in line with inflation. There hasn’t been a 10 year period in stock market history where you would have lost money in a fully diversified market portfolio.

That is true. I don't know much about stocks tbh.


In Tate we trust

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@LfcCharlie4 Alt season already here. 


How is this post just me acting out my ego in the usual ways? Is this post just me venting and justifying my selfishness? Are the things you are posting in alignment with principles of higher consciousness and higher stages of ego development? Are you acting in a mature or immature way? Are you being selfish or selfless in your communication? Are you acting like a monkey or like a God-like being?

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@integral Yah, imagine Once ETH breaks All time highs...


'One is always in the absolute state, knowingly or unknowingly for that is all there is.' Francis Lucille. 

'Peace and Happiness are inherent in Consciousness.' Rupert Spira 

“Your own Self-Realization is the greatest service you can render the world.” Ramana Maharshi

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6 hours ago, Leo Gura said:

A BitCoin crash would wipe out your investment in one week. Real estate will never do that. At most it crashes 20-30%, and then rebounds after a few years and such crashes happen once a decade or less.

Bitcoin goes through market cycles just like everything else. If you compare it gold, it just goes through those cycles way quicker. Gold needs a decade to go back to its ATH, while BTC only needs a couple of years to do so. So, even if you were stupid and bought BTC at 19k in 2017, you would still make profits if you held it and were patient.

You don't really lose anything until you sell.

Altcoins on the other hand are different. If people lose money, it's usually because of them, They're way, way more speculative and volatile. And most of them will probably never recover.

Edited by vinc3nc

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Well everyone, in my personal opinion I think we've finally hit the top for this current market cycle around $41K per BTC.

The amount of greed is quite high at this point in time.

I think we could see some more selling pressure for the next couple months.

Money is still being pumped in and out of alt coins but overall I'm quite bearish. My personal bottom target for BTC is probably around 8-10K.

Edit: Please excuse the messy charts

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Edited by 7thLetter

"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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@7thLetter Dude, you have no clue. You're just throwing darts the the wall blindfolded.

This is where epistemology comes in handy. Just admit to yourself that you don't know what you don't know. Life will go easier for ya. Might save yourself some $$$ too.

"Guys! I drew some charts and they say the roulette wheel is gonna hit red next because it just hit a bunch of black."


You are God. You are Truth. You are Love. You are Infinity.

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@Leo Gura Which is true, I truly do not know. I already admit that it's just my personal opinion, not a sure thing.

Only time will tell.


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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@Leo Gura I'm going to come back to this thread several months later and I'll tag you to see who's right :)

Even if I'm wrong I'll still do it. We could be at $100K already by that time or $10K, who knows.


"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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3 minutes ago, 7thLetter said:

@Leo Gura I'm going to come back to this thread several months later and I'll tag you to see who's right :)

Your logic is a silly as telling me that you'll come back several months later to see who was right about red or black at the roulette tablet.

Your problem is meta.

I am not saying BitCoin will go up or go down. I'm saying no one has a clue. Coming back months later and showing me your money proves absolutely nothing.


You are God. You are Truth. You are Love. You are Infinity.

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@Leo Gura Trading is all about looking at previous data to understand where price is likely to head next. It's never a 100% thing that's what people have confused. It's more of a 50-70% chance of being right based on your skill/analysis.

Yes there's a lot of similarities with gambling but gambling is based on pure luck and guessing.

You can't look at the data to understand it'll hit red or black at the roulette table.

Me coming back to this thread proves my analysis was right honestly, if it hits my target.

But of course, I'm not claiming I know. I don't know, i don't know, I don't know. All I know are the probabilities.

Edited by 7thLetter

"Intellectual growth should commence at birth and cease only at death." - Albert Einstein

 

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9 minutes ago, 7thLetter said:

Trading is all about looking at previous data to understand where price is likely to head next.

Apparently you've never read the fine print disclaimer on any trading website: Past performance is no indicator of future performance.


You are God. You are Truth. You are Love. You are Infinity.

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