They say put your eggs in different baskets. I put all my eggs in Bitcoin long time ago and it paid out so far. Now I have some Fiat savings and since they printing money like insane I dont want to hold fiat. Now considering to buy moar bitcoin in the next dump sub 9k. Good or bad idea?
Thing is if stock market crashes in a 2nd wave bitcoin will crash as well. I think it does not matter in what you invest. Unless anything very bad happens and bitcoin go down to zero in the next months. Any thoughts?
Well, you already acknowledged that you did something that was quite contrary to prudent thinking, but purportedly
(according to your representations) it paid off pretty well for you. You did not exactly give details as to when you did these imprudent things, so only you really know the details
Ultimately, you have to decide for yourself what risk choices to make and at what points in the price movements it would be prudent to diversify out a bit and into which asset classes and what proportions. You already seem to be inclining towards bitcoin centric, which seems kind of strange.... and come to think of it, your whole fucking description of your supposed situation sounds a bit contradictory to some of the bitcoin bearish nonsense that you had been spouting out in past times, because anyone who had actually taken out a decently large stake in bitcoin would have been a lot more bullish overall about bitcoin.. .but whatever, you might be just full of shit or alternatively, trading pretty short timeframes, which is not really too smart to do either, so you may have traded yourself into your own pickle in which you are now feeling that you neither have a lot of options or that you are insufficiently diversified in a way that puts you in front of the game rather than chasing.
Surely, there is a need to take whatever the fuck you are saying with a decently large grain of salt, but if you are feeling too lacking in diversification, then start incrementally diversifying in order that you feel more comfortable... and perhaps diversifying out would be very slow if you cannot identify anything that you are comfortable diversifying into... some people do diversify into something like real estate in their own area, because at least with that, even if they feel that it might be a bit over valued, they might at least be able to get some benefits by getting use of it, control of it and maybe rents to the extent that managing the property might not be too cumbersome.
In any event, I doubt this thread is really the place to be exploring what other assets that any member might be diversifying into (as opposed to merely stating what they already diversified into) because if we get too much into discussing future performance of other assets (besides maybe the dollar) then we start to deviate from the topic of this thread too much, too.
I bought in 2013/2014 right before the mtgox pump/crash and ever since hodled.
Seems like your approach to BTC has been quite a bit different than mine, perhaps?
I started buying in late November 2013 (like right at the peak of that $1,163 cycle), but my initial BTC buying plan was a bit reserved because I created a 6-month budget(timeline) for myself to DCA into bitcoin during that initial 6-month time period, so the MTGOX was going on during that time, but we also found out that it crashed (took a while to really sort out what it was doing) in late February 2014, but my DCA plan did not really get too altered based on MTGOX shenanigans and effects on the BTC market even though I was continuing to engage in my initial BTC accumulation throughout that period.
So as we were getting close to the end of my initial authorized 6-month period, I authorized myself another 6 months and a bit looser parameters on my BTC buying budget, but largely I can disclose that by the end of my second 6month period November/December 2014, I had mostly achieved my BTC accumulation goals and accumulation targets as they were kind of tweaked along the way, since I had been continuing to research into BTC as I was attempting to employ my DCAing strategy while BTC prices continued to go down and confidence in BTC seemed to wane quite a lot during that time.
By the time we got into 2015, I largely just continued to employ lower level of DCAing into BTC that I would consider emphasizing ongoing maintenance rather than either accumulating or increasing my BTC position.
So, sure, UnDerDoG81 if you engaged in a kind of lump sum investment, then your average cost per BTC might have been decently larger than my ongoing employment of some kind of individually-tailored DCAing tactics.
But even given all of those potential differences in our approaches, your proclamation that you went 100% into BTC hardly makes any sense, unless you are merely asserting that you did not really have any other investments besides BTC, so you invested most of whatever you were going to invest into bitcoin in early 2013/ early 2014, and then to the extent that you had additional cashflow after that date, you merely kept your value in cash and did not buy any BTC, but you considered yourself to be 100% BTC because you did not have any other kinds of investments. Would that, more or less, describe how you had considered your situation and how you had approached your BTC investment? or am I missing something? By the way, I am trying to give you some benefit of the doubt here, in terms of trying to find a way to consider your situation or your description of your situation to have come off as less internally inconsistent.
That time I was in huge loss and thought fuck it I go down to zero instead of selling that cheap. I dont trade.
Sure. That is fair enough. I was in loss during most of 2014, 2015 and 2016, but my average cost of BTC had at least come down from around $1,200 to $500 between that time period because, in part, I continued DCA buy BTC which continued to bring down my average cost per BTC, even though I never did sell any BTC, so those early bought BTC just continued to sit in my possession, and maybe your situation was similar, but instead your cost per BTC was likely higher than mine, and you just waited until either late 2016 or early 2017 for your BTC holdings to get back to profits.
There are some people who even did worse than that, but sure, I could see why sometimes some HODLers might develop q bit of bitterness if they keep holding, and I never recommended that HODLers take that kind of an approach, but instead to continue to buy, but I understand that there might have been several HODLers (possibly, including yourself) who blew their whole wadd in terms of buying too much BTC too early and too high, and did not employ other tactics besides mostly waiting it out (and maybe becoming more and more bitter about the whole ordeal?).
And I am not bearish nor bullish. I am realist. If the market looks bad I talk bearish. If we go up I talk bullish.
Makes hardly any sense, but sure, you can describe yourself however you want.
If you want to say that you are emotional as fuck, then that might be a bit more accurate than self-describing as a "realist", but hey, to each their own, if you believe yourself to be a realist, then maybe I just don't have enough information to know that you could possibly be correct in your self-assessment.
Of course I wish the price would jump to 100k.
Don't we all?
But as I said I am realist.
I will take that with a grain of salt.
Seeing people here voting 50k for the price on bitstamp for 27th June makes me wonder in what world some people live.
You really think that those are real sentiments and reflective or real thoughts? These are the interwebs. People say all kinds of shit, and sure there might be some people who actually believe bullshit pie in the sky expectations, but does not mean that either they are reflective of the vast majority or that we should use them as some kind of guide to assessing what people think about BTC. That is just bullshit if you want to ascribe outlier opinions to the extent that they even exist as if they represented the vast majority of people. The only one living in a fantasy would be you, if you are trying to use outliers as some kind of meaningful representation regarding how people might think/believe about BTC.
I am thinking about to buy some real estate.
Might not be a bad idea to at least consider.
Later this year, when the real economy crash comes.
Future is difficult to predict, but sure if you believe that you have some kind of crystal ball, then sure you might want to take some chances in that direction.. but seems that you took chances in regards to BTC too, and just caused you to come off as bitter to the extent that you have consistently been the same poster between early 2014 and now (and I just looked up your profile and realized that (maybe refreshing my recollection from earlier) in April 2019 you had been accused of having a hacked account which seems to have not been resolved, yet... I recall having had noticed differences in some of your writing style, but whatever, I don't really know, unless you want to explain some of that part?)
But until then I dont want to hold Fiat. And I think bitcoin is a good haven. Unless something horrible happens and it crashes to zero.
Your thoughts are coming off as a bit inconsistent, and even dumb. During uncertain times, you don't put more value into a volatile asset such as BTC.. but whatever, if you want to gamble, that's your choice.
My frequent recommendation in recent times is that people have at least a 5-year investment time horizon for new money that they are putting into BTC.. but sure if you have shorter ideas, you can do what you want, and that seems to be more like gambling rather than investing, I personally don't approach bitcoin in this way or recommend others play around like that, except maybe to the extent that they already sever off part of their investment position to have their 5-year plus established and then maybe taking some smaller portion to play around with...
But instead, you seem inclined to already proclaim that you are "overinvested" in bitcoin based on your earlier gambling, and based on your purported profitable position, you want to double or triple down or some other nonsense, and you are not going to get me to go along with your lack of prudence, but to the extent that you are an adult (possibly rather than a troll), you are free to do whatever you want with your investment and/or gambling approach to your various assets or lack thereof or your lack of diversification that you want to hold off until later in the year.. blah blah blah. Maybe you are showing an example of what NOT to do? Except if you are just pulling our leg(s) and you really don't own anything except for a right to live in your grandma's basement, then later if the market moves in favor of bitcoin, you can spout out about how smart you had been to double/triple down on your BTC investment while really having nothing at stake in the real world, except whether grandma would get mad at you for spending too much time on the computer.
While I agree that from a bitcoiner POV holding cash right now seems crazy, I don't think anything will happen in the short term to fiat. So with the view of buying a house in less than a year, I keep a cash pile.
True dat.. short-term time horizons may well justify keeping a lot more value in fiat, and maybe even moreso in times like these.
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