Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.
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$7405.51, getting real quiet on this front.
Wonder if the quiet is connected with this.
Oh no, is bitcoin dead yet again? Zoom out, hmmm, not so bad if you have at least a medium term investment horizon: https://imgur.com/Kma1yL1
To be honest, you guys sound more like the get rich quick guys than the crypto kids....After gaining more than 1400% in 2017 alone did you think it would just keep going straight up?
Let's do the math again on the original post:
I understand the OP was an April Fools joke but the OP was April 1, 2013. BTC was approximately 100 usd / btc (https://www.forbes.com/sites/timoth...ated-history-of-bitcoin-crashes/#2a41cc6c4039)
Let's say the original poster of this thread just dipped his toes into btc and sold one ounce of gold and put the proceeds in bitcoin. Spot gold was 1,380 USD per ounce, so spot for spot OP would have 1380/100 = 13.8 btc at time of original post. Current value is 13.8 btc x 7415 usd = 102,327 USD. Now there was no guarantee that would work out, and there was definitely big risk he would lose his 1380 usd, and he could have panic sold 3 weeks later on the crash to 50. But if it was an amount he could afford to lose and he just tucked it away, oh my.
The ounce of gold is worth a nice lunch less, so yeah....
Edit to add: https://www.cointalk.com/threads/worry.316914/
That thread makes an interesting read after this one.
No way, Bitcoin is entirely above board and completely visible to all investors. You just need a pair of the "special" glasses.
Sure has gotten quiet in here.
Chirp, chirp, chirp...
Brand spanking new post-peak low. Hmm. Worth about 1/3 of its peak value, eh? Now where have I seen that before?...
Oh yeah, THIS stuff!
Hi Kurt V!
I hope all is well.
Your investment horizon must be very short to be so concerned with the weekly/monthly moves of crypto. I have a longer investment horizon, not just in crypto, but across my investments. I try not to get emotional about an asset, whether i think the asset will succeed or fail i try to remain objective so i don't miss opportunities because a misheld personal belief causes me to ignore or dismiss something new.
I have positioned myself best for a repeat of the 2014-2016 bear market. If you don't recall, we peaked at just over 1000 usd per bitcoin in December 2013 and then had a long grind down to around 200 over the next 18 months or so, followed by the spectacular rally from the breakout of 440 usd in 2016-17 to a high of over 19,100 usd in December 2018. In 2013 I sold the bulk of my btc on the way down, with an average price in the mid 600s and bought back at an average of 420 usd over the next year or two. This go I sold on the rip (way up) with the bulk of my sales being in November/December 2017 at an average of 12100. Thus far I have bought back 37% of the bitcoin i sold at 12,100 and intend to purchase the rest back on further weakness. We could very well be headed below 2000.
That said, i never sell all my btc because this could be like the first bubble of 2013, remember the one where btc wen from 20 usd to over 200 in march/april of 2013 only to crash to near 50 in a week. That year was the double bubble year, with the bubble to 1000 following shortly.
Zoom out, you are really missing the big picture:
It's true. For many people, Bitcoin is still up by enormous amounts. That being said, I highly doubt you could find more than a couple people in this entire thread that have any kind of dog in the fight.
Orrrrr .... sanity could break out.
Logarithmic charts make for interesting discussion since they can distort your view of any set of numbers and you need to really pay attention to the scale. From my perspective in this chart the rise has been phenomenal, but the fall is hidden in the scale used. My view of any item like this is pretty simple. It went up, way up, and it is coming down, way down. The only relevant issue is your price point at acquisition, everything else is an interesting discussion. If you mortgaged the house at $12k you are probably homeless or living in your parents' basement. If you bought at $12 you are probably sending this in from Monte Carlo.
It is so incredibly odd to me that a thread would go 43 pages and 5 years with only a couple people with a dog in the fight. Why waste all these words and Internet space if no one has a dog in the fight?
Unless of course they do have a dog in the fight, and that dog is their own bruised ego. Could that be it? This thread is cathartic for those who mocked bitcoin in post #1 and now would like to forget that in post #1 they could have traded 1 ounce of gold for 13.8 btc and now today, only a few years later, they could trade that 1 btc for 5 ounces of gold (Even with bitcoin 60+% off its recent all time high)
It seems to me, at least in the last 10 pages or so of this thread, there is no intelligent discussion pro or con crypto, just a few people who prefer to jeer something new than try to understand it. Kurt V's comment is a perfect example, it brings nothing to further the conversation or defend their position.
Same chart in linear:
You don't have to own a coin to have an opinion about it and to contribute to a discussion any more so than you have to eat rat poison to discuss its nutritional value.
And I think more visually representative of the rise and fall of the prices.
I would have had a dog in the Bitcoin fight if I had thought it was a solid investment. I didn’t and still don’t.
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