Come back to it in 2-3 years from now and enjoy the near-order-of-magnitude profits.
I agree with your sentiment, but any investment should be a minimum of 8-10 years holding, if not much longer. Thinking 2-3 years outlook will cut it is the problem with most people's mindset about investing. Hell, a bear market in anything could easily last 3-4 years. Yeah, agreed, perhaps at least one Halving period. Fact is that I have never ever been at a loss since I bought my first Bitcoin in 2015. Never ever. Always in profits, sometimes really huge, others not so huge, but far greater than any other traditional investment could have given me. Yep. Instead of thinking of Bitcoin as an "investment", I like to think of Bitcoin as a personal/private bank account that pays you insane interest to hold your money...provided you average that interest rate of return over a ten year period. Incidentally PM's aren't much different, they just pay you much less interest over time than Bitcoin. |
|
|
|
Come back to it in 2-3 years from now and enjoy the near-order-of-magnitude profits.
I agree with your sentiment, but any investment should be a minimum of 8-10 years holding, if not much longer. Thinking 2-3 years outlook will cut it is the problem with most people's mindset about investing. Hell, a bear market in anything could easily last 3-4 years. |
|
|
|
I'm no conspiracy theorist, I tend to want to see evidence before I even consider anything a possibility, but I tend to be open to see the evidence and make a decision for myself.
I believe there is a Corona virus out there. I believe people are getting sick from it. I believe people have died from it.
My question:
With all of the people that record video of every boring part of their day (planting flowers, eating dinner, walking the dog, etc.), why are there no videos of people in their hospital beds dealing with this virus?
A quick search of Youtube shows that there are several media videos of people talking about how they are sick, but no "Joe blow" sitting in his hospital bed talking about how much it sucks on his Youtube channel.
And on Facebook I see plenty of people talking about how "my friend's dad died from it" or "my friend is a doctor and he's overwhelmed", etc.
But where are the videos? If you know of any, please let me know to ease my confusion. This should be a common thing on Youtube.
The only videos out there are the ones sanctioned by the media. Also, please point me to the World Joint Investigative Task Force put together by all the major nations affected by the coronavirus, whose mandate is to: a) investigate the source of the virus, b) find out *exactly* where it originated from and how/why, and c) put in protective measures to make sure that this kind of thing NEVER EVER happens to the world again. Because considering the health threat and the world economic damage, such an investigative task force would make total sense, right? Bbut...no? You can't find such a thing being discussed in the media? That's odd.  Bueller? |
|
|
|
Shit man It sucks to be a nocoiner.
I reverted back to where I was 3 years ago. >:[
Right after I started to break my rules I went complete shit with my decisions. Fuck. Starting again.
Hopefully I'll be smarter this time.
Few months ago I was so damn sure that I could ride this to zero because that was when I wasn't overinvested. Right after I overinvest everything went down. Fuck my luck. It should have gone upwards. Fuck.
Well some would tell me that going 95% all-in (been that way since Sept 2013) that I'm overinvested, I'm crazy, I'm a fool, and so on. I saw a 40% drop in my net worth soon after I went "all in". I've also seen many peaks and valleys since then. Am I taking a big risk? Well sure. But risk little, gain little. But then again had I not gone "all in" back then, I never would have been able to buy a house outright not too long ago, and still have enough left over to basically retire for life. I still do some work on the side to keep the mind active. As you can see with the recent stock market action, divestiture into other investments doesn't guarantee squat. |
|
|
|
wjy indeed?
 |
|
|
|
|
This equities bear market is FAR from over. Not enough despair yet. It'll be fun watching all the bull traps on the way down.
They've got a least another -20% to go. I predict bottom of the stock market sometime around Jan 2021.
|
|
|
|
I had troubles with my trezor in Thailand, I had the trezor but the backup codes were on the seastead. That's part of it, you need backups but what to do with the backups?
Fortunately I had a backup that I split among family members because all of my cryptosteel was on the seastead.
Elwar, are you talking about your seed key still on the seastead? If so, what happened to it? If the seastead has been confiscated by authorities, I hope you moved your coins to a new trezor. |
|
|
|
If everything has gone to hell the one thing people wont have is loads of spare money
But that's the point of bear markets and market bottoms. The whales back up the truck and accumulate at the bottom of a market at precisely the time when retail investors don't have any spare money to do the same. |
|
|
|
|
It will definitely trickle down to the real economy, just like it did 2009 - 2019.
During that time they managed to keep a lid on food prices, gas prices, and some services, but literally *everything else* skyrocketed: houses, student loans, new cars, new phones, utilities, phone bills, health insurance, etc. And that was all during a period of global deflation!
You can't have all those things skyrocketing while people's salaries remain stagnant over the same period. That's inflation (actually stagflation) and that's why people feel poorer and poorer over time.
It's going to be even worse over the next decade. MUCH worse.
|
|
|
|
Welp, it's over. The Japanification of the U.S. is now underway... https://www.cnbc.com/2020/03/23/fed-announces-a-slew-of-new-programs-to-help-markets-including-open-ended-asset-purchases.html" The Fed also will be moving for the first time into corporate bonds, purchasing the investment-grade securities in primary and secondary markets and through exchange-traded funds. The move comes in a space that has seen considerable turmoil since the crisis has intensified and market liquidity has been sapped." “Fed policy is shifting into a higher gear to try to help support the economy which looks like it is in freefall at the moment,” wrote Chris Rupkey, chief finacial economist at MUFG Union Bank. “ The central bank is shifting from being not just the lender of last resort, but now it is the buyer of last resort. Don’t ask how much they will buy, this is truly QE infinity.” |
|
|
|
Bitcoin above $80K
But... but... you're trying to say I'll be too old for the $100k party? Damn...  Not at all. Before 2030 comes I'm almost positive we'll see a spike above that. What I'm talking about is the low, or sideways, price of BTC will float around ~$80K in ten years. Or higher. And by that time asset inflation will have been really really bad. The longer that I have been studying the bitcoin space, the more I have come to consider that both the bottom spikes and the bottom floating arena are amongst the more important factors, rather than the various upward price spikes, and of course, nothing is guaranteed, even while "~$80K in ten years" as a floor seems to be a relatively conservative bet...... and yeah, it could be argued that some of us are drinking too much BTC kool-aide, but given the whole way that these matters are playing out, bitcoin remains bullish as fuck.. and surely, hope that many of us (including yours truly) is still alive and well and even feeling powerful enough to witness 2030 and even to enjoy the likely wealth from such passage of events... thinking about it.. a floor BTC price that is more or less 13x greater than our current bouncing around price. For younger folks, folks just learning about bitcoin, folks with a very limited budget or even folks who fucked up in their bitcoin strategy(ies) in the past (not only mindrust, but others), you should be able to figure out a way to reasonably and prudently profit from this decently likely situation, without going too fucking crazy in terms of a target timeline and not gambling too much with your own finances or psychology, either... and even DCAing a modest amount of $100 per month (or whatever amount that you can reasonably manage without devolving into a mindrust-like meltdown) is going to likely put you in a very fucking good (great) place in 10 years or so. Well said JJG. DCAing every month or three is a much better strategy that just FOMOing in during every bull run spike. I mean, even if my conservative prediction of a $80K/btc floor in ten years turned out to be wrong, and it was instead say half of that. $40K+/btc. That's still, what, like 7X higher from here? Tell me what stock or other investment would do that by 2030? I'd be willing to bet none of them. None. Certainly not a corporate-blessed 401K, that's for damn sure. For fk sake, even if people didn't like or want to own Bitcoin, they should at least be buying some Gold or Silver and hold it long term. But the sheeple aren't even willing to do that much. And then ten more years pass by and they wonder why they feel even poorer (Pssst! It's stagflation, stupid). |
|
|
|
Bitcoin above $80K
But... but... you're trying to say I'll be too old for the $100k party? Damn... Not at all. Before 2030 comes I'm almost positive we'll see a spike above that. What I'm talking about is the low, or sideways, price of BTC will float around ~$80K in ten years. Or higher. And by that time asset inflation will have been really really bad. |
|
|
|
Agree. Gold certainly doesn’t look like a safe haven after a 24% plunge in less than 2 months, even more worrisome is the fact that the S&P 500 remained flat during that period. Therefore, is it really fair to analyze any correlation over such a short period? Does that sharp movement in price invalidate gold’s resilience during market uncertainties?
Was the public not paying attention that both Gold and Bitcoin have been running up the last few years since they both bottomed? Gold especially never starts a new bull run unless the "insiders" know what is coming down the pipe. They are always ahead of the public by a few years. By the time a market crash comes, Gold has already moved up from it's bottom by at least 25-30%. Then after a crash is fully over, deflationary assets will take off to try and outrun inflation (or perhaps, because of it). Every. Single. Fkn. Time. Fueled by the Fed's trillions in free money, of course. Remind me in 10 years, here are my conservative predictions: By 2030 - Stock market at another ATH Gold above $2800/ounce Bitcoin above $80K Average new car $30K+ Average 1500 sq.ft. new house $350K+ Oil price? Who the fk knows, the world is swimming in it. |
|
|
|
|
There were funky China men from funky Wuhan
They were chopping bats up
They were gulping bats dahn
It's an ancient Chinese art
And everybody played their part
Started as a quarantine on a ship
Then spiraled into global pandemic
Everybody was Kung Flu fighting
The markets plunged fast as lightning
In fact it was a little bit frightening
But they caught the bottom with expert timing
|
|
|
|
From my perspective, the lingering question is not the virus, but whether this causes non repairable shit in the legacy financial system. Something has been burning since September already when the repo market got sick. This had nothing to do with the virus.
So I am keeping an eye out for more sorrow (and related scare dumps) before I declare all this over.
Whether Bitcoin would dump as well in a renewed scare dump downwards: we will have to wait and see.
People aren't getting it...yet. But soon there will be a reckoning. And it won't be virus "deaths" they have to worry about. In history there never has been, and never will be, market crashes and recessions without *massive* layoffs following. No doubt it's coming. Most people will be caught completely flat-footed. Maybe that's when the public outrage and protests will finally start. Edit: But don't take my word for it. The Wallstreet 'vampire squid' is already warning it for me: https://www.cnbc.com/2020/03/20/the-upcoming-job-losses-will-be-unlike-anything-the-us-has-ever-seen.html |
|
|
|
|
Social Distancing def.- when your company wants you as far away from the office as possible, so that when HR sends you your pink slip, you can't go postal on them or inject a virus into the IT network.
|
|
|
|
QE is like the McRib. It's back for a "limited" time and not good for you.  |
|
|
|
I wonder if times such as these will eventually lead to stricter rules about public companies - such as after-the-fact voiding of manager bonuses, forced state repossession of nonconforming companies and similar draconian laws. Seeing what is being imposed on the general population in the name of the common good, which is quite close to enforcing police state rules, I'd say it wouldn't be too far fetched.
Talk of strings attached here - https://twitter.com/sahilkapur/status/1240012636013592581I doubt that pinko faggot shit will pass though. There's no way it will pass. The people who will shoot it down it are in bed with the corporations and CEOs that would suffer from it. |
|
|
|
The money printing doesn't matter. It's the confidence in the currency and the country that backs it that matters.
Yep, exactly. Also, lack of confidence in the alternatives. That may be true in the short term during a market rout. But not in the long term...2+ years from now you will see stocks, PMs, Bitcoin, real estate, cars, oil, (everything other than food prices) soar again to nosebleed levels, while Mainstreet struggles with employment and benefits, overload of debt, salaries stagnate, and the economy continues to go nowhere. Because all the free fiat money is truly worthless, no one wants to hold it. It is simply a means to an end for them. |
|
|
|
|
Show Posts
