Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
OU Ariakas
Diet Dr. Pepper Enjoyer
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You are the kind of person that would shit on someone for buying BTC at $1000 because it had never been there before.
99.999% of people buying coins right now are speculating on a new type of investment; you have no idea if the market is going to halve, double, or triple in the next year so intimating that someone putting money in at a near ATH is foolish is......foolish.
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OU Ariakas
Diet Dr. Pepper Enjoyer
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you're literally comparing dogecoin to coins that people invest in that have real value? it's a meme coin with a ceiling that it's already above. why are you comparing it to bitcoin lol.
dogecoin literally did the thing it already was supposed to do. everyone that made money should have taken most of it out. I'm just saying if I'm going to put money into something it isn't dogecoin at 40 cents. at that point you're hoping to... double your money versus losing it all?
invest in something with real value. or invest in a coin before it reaches its cap.
get out of here trying to compare buying btc to buying dogecoin after it has spiked 3000% already in 9 months?
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Flobee
Vyemm Raider
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You're both right. Dogecoin can't be compared to Bitcoin in good faith if you understand what both are. However you can't expect someone new to the space to know that. I honestly wish that everyone that was introduced to crypto saw this first:
"Bitcoin is the most decentralized and secure crypto network in existence. Everything else is speculation. You may make more USD on a shitcoin, but if the Bitcoin case plays out owning anything else is losing in comparison"
There is only one crypto that legitimately threatens the current fiat monetary system and that is Bitcoin. Buying anything else is playing a completely different game. If you disagree you just haven't spent enough time understanding the space IMO
"Bitcoin is the most decentralized and secure crypto network in existence. Everything else is speculation. You may make more USD on a shitcoin, but if the Bitcoin case plays out owning anything else is losing in comparison"
There is only one crypto that legitimately threatens the current fiat monetary system and that is Bitcoin. Buying anything else is playing a completely different game. If you disagree you just haven't spent enough time understanding the space IMO
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Wrong. Its called due diligence and being an informed investor. In the age of the internet, not having any idea what you are throwing your dollars at is inexcusable.
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OU Ariakas
Diet Dr. Pepper Enjoyer
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My post was pointing out that to most people investing in crypto everything the two of you said doesn't matter. Doge, for better or worse, is probably the 3rd most recognized coin to laypeople. That means when Bitcoin or Ethereum go up then there is a high likelihood that Doge will follow with the tide. So criticizing someone for buying any coin now is asinine because of the room that the entire ecosystem has to grow on the backs of BTC and ETH.
This is a true statement in fact but false in real world practice.
This is a true statement in fact but false in real world practice.
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LachiusTZ
Rogue Deathwalker Box
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I can make a great case for due to the specialization that's required to actually understand this shit, it's out of reach for basically everyone.
And that nobody really knows what the fuck they are throwing money at.
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dogecoin does not go up or down with eth and btc... did you see what happened this week? the entire market crashed 20% and dogecoin barely moved.
am I in the wrong forum? it's literally 1 of the only cryptos that didnt directly rise/fall as eth went from 2500 to 2000 in 1 day.
am I in the wrong forum? it's literally 1 of the only cryptos that didnt directly rise/fall as eth went from 2500 to 2000 in 1 day.
LachiusTZ
Rogue Deathwalker Box
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No, but if you want to do a group exercise of dunning kruger, have at it.
Even someone such as yourself, in the top fraction of a percent in equity knowledge, is ignorant to the logic of the black boxes running the equities market.
To really understand crypto, I would think it requires, at a minimum, a few years of coding, a few years of hardcore economics, a few years of public policy, a few years of psychology, etc.
We are all looking at bones in a bowl, and thinking it's telling us a truth.
In reality, we are monkeys looking at random bones, and whether or not we accurately guess has little too do with understanding and more to do with the application of a framework that works for a given time period.
And this isn't a dig at you, it's just a reality of the world. The amount of knowledge required to understand anything in depth today takes, what, 10000 hours?
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I don't disagree with your points. My reply is "just say no". Listen I know it happens every minute of the market. I make money off of peeps like this. I also recognize that we need to help people by telling them "this is a bad idea, don't do it" a whole lot more. Its the exact same mantra I preach with people who decide to "dabble" in options without doing mad learning first.
ps.. If you sit down at the power table and within 30 seconds can't figure out who the dead money is.... its you.
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ETH rapidly approaching $2500 right now. I bought $16K worth a few days ago, its worth almost 19K now. Thinking about bailing out at $2500 and waiting for it to retreat back to $2100--$2200
Buuuuuuuut what if this is the time it goes to 2700????
Edit: sold it at $2432, looks like it headed back down.
Buuuuuuuut what if this is the time it goes to 2700????
Edit: sold it at $2432, looks like it headed back down.
Kiroy
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Flobee
Vyemm Raider
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Totally agree. Understanding Bitcoin alone is easily 50+ hours of research, assuming you're reading the right shit.
LachiusTZ
nailed it regarding the need to understand multiple disciplines to be truly informed. Really only two groups of people that understand the space right now to any degree, technologists and financial folks that think about macro. If you're Joe plumber you've got a lot of work to do. Throwing a couple hundred at DOGE while you figure the space out isn't unreasonable, even if its not a great idea.You basically need a PhD in avoiding internet scams on top of the above to keep what you buy too. The media and whales are going to do everything they can to get you to buy shitcoins while keeping BTC price down while they create their positions. We're talking about an unregulated international market here so they're using all the dirtiest tricks available to manipulate.
Just buy BTC and HODL. All that research is going to lead you to that conclusion anyway
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And to be clear I am not pissing on crypto. Far from it. I dont invest in it for two reasons. I dont understand it enough and the exchanges are hot garbage. When Fidelity, GS, JPM, Vanguard etc are all offering it, that will eliminate that issue. I feel the same way about the equities market. I almost never invest in sectors I don't follow and when I do it almost always ends up poorly for me.Totally agree. Understanding Bitcoin alone is easily 50+ hours of research, assuming you're reading the right shit.
You basically need a PhD in avoiding internet scams on top of the above to keep what you buy too. The media and whales are going to do everything they can to get you to buy shitcoins while keeping BTC price down while they create their positions. We're talking about an unregulated international market here so they're using all the dirtiest tricks available to manipulate.
Just buy BTC and HODL. All that research is going to lead you to that conclusion anyway
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LachiusTZ
Rogue Deathwalker Box
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That's why I've moved almost everything into ETFs or things
Sanrith Descartes
and
Blazin
have recommended.
Those dudes are at least 15000 hours ahead of me in equities etc. And fuck it I'm to old to catch up.
My crypto position has a smaller basis tbh.
Edit:. Every time I read a
Flobee
post about BTC and not ETH it nags at me. Lol
Sanrith Descartes
and
Blazin
have recommended.Those dudes are at least 15000 hours ahead of me in equities etc. And fuck it I'm to old to catch up.
My crypto position has a smaller basis tbh.
Edit:. Every time I read a
Flobee
post about BTC and not ETH it nags at me. Lol- 1
