Let people invest in what they want as long as they understand there are risks, including losing it all.
Sunrise, sunset. Everybody has to go through the process to learn the difference between BTC and everything else. Unfortunately sometimes it's an incredibly expensive lesson.
If I have learned anything over these last 5 years, I have no real predictive value for what will be successful or a failure. I thought Meta was dead due to shifting preferences in kids, but it’s worth more than ever. I thought Tesla’s valuation would come back to earth. It didn’t stay there. I thought Apple would come down to Earth as their latest offerings are stale, but I was wrong. I think NVDA will stay high. So it probably won’t. I thought bitcoin would crash and remain low, and here we are back to ATHs. I don’t do forex trading anymore than I would do crypto holding because it does not fit my risk tolerance. I’ll stick with the equities that I am used to.
Maybe I am depressed but almost every decision I have made has been made out of fear of loss than a chance at success. I am extremely risk adverse to my detriment.
Have you considered studying macro economics and markets? Instead of accepting defeat, understand the loss. Why is META still doing well? Because there is no competition and advertising is huge. Do you think this model is sustainable? (probably not) Why is NVDA doing well? If you think its because AI is the future, bank on losing money. Why is Bitcoin doing well? This is a bit more difficult to answer (besides 344 pages in this thread), but if an obvious scam coin can get a 100b market cap, maybe there is something to this after all. Not having an exit strategy is usually the cause of most losses. The second worst thing a person can do is realize the gains and go spend it on consumables. If a person takes the 200% gain and go wastes it on something like a TV or car, they always start back at zero and get more desperate for 10x gains, thus falling for what most other people recognize as scams.
I mean I have read a lot of theory. But theory and practice are not the same. The web is full of pump and dumps. And regular people trade on vibes. And in the end, the institutions have both the volume and IT infrastructure to win on any strategy I can come up with. By the time a retail investor like me finds a deal, everyone else in the know got in at the bottom. It feels like a casino, and I hate losing.
This is pretty normal. Until BTC came along, there really wasn't a way to get ahead/beat the system. Investing was mostly about minimizing entropy. Even if you're a Boglehead, all you're doing at best is keeping pace. Chasing trends and trying to predict the weather is a fool's game. Study bitcoin, study fiat, study the fundamentals of value. Once you realize BTC is impervious to all forms of traditional value decay you start to see why it not only will win but that it must win.
I am fine mining bitcoins given my GPU is profitable but I am not sure which miner is legit and which is not. And every site says use an ASIC rig.
But I also know mining is harder than it ever has been. Buy and hold is what the folks with the most views on YT recommend.
This thread and all the BTC elitists remind me of the meme Guy: I have over a million dollars in BTC Girls: Nice! Care to buy us a round of drinks? Guy: Oh sorry, I don't actually have any real money
The number of people living off bitcoin only is almost zero. I am aware of one person who tried it and the bitcoin community told him to stop being autistic.
I took my Bitcoin gains, put it in a promising **** coin which as I guessed 100x, next thing Kim Jong and his NK ****ers hacked me crypto is ****ing exhausting
all you have to do is set a recurring bitcoin buy on CashApp, wait ten years, and then be fabulously wealthy but most people can't do it, they are unwilling to just sit still and not touch it HODL is a state of mind that is difficult to master
