GroovyGuru

Is investing in Crypto just a get rich quick scheme?

221 posts in this topic

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.

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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 Love. You are Infinity. You are Leo.

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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 Love. You are Infinity. You are Leo.

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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 Love. You are Infinity. You are Leo.

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10 minutes ago, 7thLetter said:

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

No it doesn't.

Please learn some basic science.


You are God. You are Love. You are Infinity. You are Leo.

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1 minute ago, Leo Gura said:

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

They just say that for legal purposes. Similar to how you would write a disclaimer in your Psychedelic videos.


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

 

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32 minutes ago, 7thLetter said:

They just say that for legal purposes.

They say it because fools using your logic have lost millions doing what you're doing.


You are God. You are Love. You are Infinity. You are Leo.

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Just now, Leo Gura said:

They say it because fools using your logic have lost millions doing what you're doing.

Fools lost millions because they didn't know what they were doing.

Anyone can come put money into the markets in hopes of realizing a profit. Your mom, your sister, your brother, your aunt, your cat, your dog. That's where the money that is lost is coming from, from the people who don't know anything.

My 65 year old aunt puts money into crypto, does she know anything about trading or what a Dogecoin is? Hell no. If she loses all her money that's all on her for not understanding how to trade or understand market cycles.

You write a disclaimer in your Psychedelics videos because of how dangerous Psychedelics can be, but we all know its only dangerous for the ones who don't know anything.

Lose all your money in the market = Ignorance.

Die from plugging LSD in your butt = Ignorance.


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

 

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12 minutes ago, 7thLetter said:

Fools lost millions because they didn't know what they were doing.

Haha

Everyone else is the fool.

Exactly how a fool thinks.


You are God. You are Love. You are Infinity. You are Leo.

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4 minutes ago, Leo Gura said:

Haha

Everyone else is the fool.

Sounds exactly what a fool would think.

I guess I'm a fool then if I take the time to do my own research and watch your Psychedelic videos to educate myself on how to properly dose & trip.

Compared to the people who do psychedelics for fun at parties without any prior education on what Psychedelics are? Yeah I'm definitely the fool.


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

 

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