ChartBuddy
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January 30, 2022, 09:01:24 AM |
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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ChartBuddy
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January 30, 2022, 10:01:20 AM |
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AverageGlabella
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January 30, 2022, 10:28:36 AM |
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@JayJuanGee @ImThour Fuck the debating lets all agree that we all want to see Bitcoin continue to rise and we all get stinking rich that we have fuck you status WRONG WAY CHARTBUDDY... |
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ChartBuddy
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January 30, 2022, 11:01:22 AM |
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AlcoHoDL
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Addicted to HoDLing!
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January 30, 2022, 11:22:25 AM
Last edit: January 30, 2022, 11:52:55 AM by AlcoHoDL Merited by Welsh (8), El duderino_ (7), JayJuanGee (4), vapourminer (2), somac. (2), BlackHatCoiner (2), Farmer Bill (2), philipma1957 (1), JimboToronto (1), Hueristic (1), Torque (1), Arriemoller (1), julian071 (1) |
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To all shitcoiners out there, who read WO -- I'm sure there are many:
If you keep logs of your shitcoin buys/sells, and have some spare time, try to calculate your total profits/losses since you got into shitcoins, and compare it with the profits/losses you would have if you had put all your funds into Bitcoin from the very beginning. You could be in for a big surprise!
I just did this for my cousin's shitcoin trading since the beginning of 2017. At that time, he transferred a fiat amount of approx. $6000 to Kraken, and has been trading shitcoins constantly until now -- that is, for 5 years non-stop. Below are the results. Prices/values are approximate and are as I remember them.
Calculation data:
Fiat investment amount: $6000
BTC price at time of investment (01/2017): $1000
BTC price now (01/2022): $38,000
Shitcoin performance (what he did):
Total shitcoins bought/sold: Too many to list!
Total shitcoin stash value now: $15,000
Total profit from 5 years of non-stop shitcoin trading: +150% ($9000)
Total trading volume: > $50 million (Kraken earned more than $100,000 in fees)
Total stress: Extreme. Watching charts 24/7 for 5 years.
Winner: Kraken
Bitcoin performance (what he should have done):
Total BTC bought: $6000 / $1000 = 6 BTC
Total Bitcoin stash value now: 6 BTC x $38,000 = $228,000
Total profit from single Bitcoin transaction after 5 years: +3700% ($222,000)
Total trading volume: $6000 (Kraken would have earned $16 in fees)
Total stress: Low. Casually checking BTC price and enjoying profits.
Winner: Bitcoin HoDLer (as always)!
Conclusion:
Never get into shitcoin trading.
When you're trading, the real winner is the exchange.
Always put your funds into Bitcoin and nothing else.
Do it as soon as you can.
Never sell, unless you must immediately use the fiat for goods/services.
Never sell to simply put fiat in a bank account.
Never worry about dips -- they're just noise.
So simple, yet few understand...
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ChartBuddy
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January 30, 2022, 12:01:27 PM |
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El duderino_
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BTC + Crossfit, living life.
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January 30, 2022, 12:05:03 PM |
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 This is the way. |
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somac.
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Never selling
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January 30, 2022, 12:14:19 PM |
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If I had an "extra" house, I could have sold it in 2016 too as I was trying to invest as much as I could (within some strict limits), but selling the house where I live-you have to be a bit more adventurous-like the Taihuttu dude (he sold the house when btc was $900, became a nomad with his whole family).
In any case, selling a live-in house to try to gain a bit of leverage is probably beyond most people. I have seen a couple reports like this, but usually it was a second house of a house that was inherited.
Well, it's certainly beyond most people today since house prices are no longer affordable for the vast majority of the population. Being born at the wrong time and to the wrong parents is a common mistake these days. |
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funsponge
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If I had an "extra" house, I could have sold it in 2016 too as I was trying to invest as much as I could (within some strict limits), but selling the house where I live-you have to be a bit more adventurous-like the Taihuttu dude (he sold the house when btc was $900, became a nomad with his whole family).
In any case, selling a live-in house to try to gain a bit of leverage is probably beyond most people. I have seen a couple reports like this, but usually it was a second house of a house that was inherited.
I have thought about this for a long time. If you have no family depending on you and you do not have a partner it is a good idea. Sell the house for $300k buy a small camper van to live in so I am not homeless and travel the country by setting aside 10k by the time I have traveled all states I would probably profited by at least 1.5x. 280k x 1.5 = 420k that is the minimum i think it rises it probably would be 2x I could move into a house bigger then I have now for 1-2 years of living in a camper van. I would not need a mortgage and if a short time I would have improved my lifestyle forever |
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ChartBuddy
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January 30, 2022, 01:01:23 PM |
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savetherainforest
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January 30, 2022, 01:15:49 PM |
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If I had an "extra" house, I could have sold it in 2016 too as I was trying to invest as much as I could (within some strict limits), but selling the house where I live-you have to be a bit more adventurous-like the Taihuttu dude (he sold the house when btc was $900, became a nomad with his whole family).
In any case, selling a live-in house to try to gain a bit of leverage is probably beyond most people. I have seen a couple reports like this, but usually it was a second house of a house that was inherited.
Don't you have like, family?? That has some orchard somewhere that they need help with.  ... The only problem is that you need to move all your sh!t that you accumulated for the past 20 years in your house. |
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cAPSLOCK
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Whimsical Pants
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January 30, 2022, 01:22:45 PM |
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I know that Elwar sold his house for bitcoin around that time. Not sure about the origins of the house.
This is all you need anyway  That *is* an unnecessary chair? |
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ChartBuddy
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January 30, 2022, 02:01:21 PM |
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cAPSLOCK
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Whimsical Pants
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January 30, 2022, 02:18:07 PM |
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He's out there somewhere...  [/url] |
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ImThour
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Bitcoin Bottom was at $15.4k
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January 30, 2022, 02:24:47 PM Merited by JayJuanGee (1) |
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@JayJuanGee @ImThour
Fuck the debating lets all agree that we all want to see Bitcoin continue to rise and we all get stinking rich that we have fuck you status
He is right in his way and I am trying to make sense with my own opinion however our goal is same. I appreciate his opinion and TBH it’s nothing personal. All good! About the fuck you status, I am working on it since the day I heard about BTC. |
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ChartBuddy
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January 30, 2022, 03:01:26 PM |
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Torque
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January 30, 2022, 03:57:10 PM
Last edit: January 30, 2022, 04:14:04 PM by Torque Merited by JayJuanGee (1), LFC_Bitcoin (1) |
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100% of the time, time in the market beats timing the market...every time.
I know a retired guy who day trades for a living now. In a really great year, he is lucky to make about $25-30K, which barely pays some of his bills. In a bad year, he makes next to nothing. His wife still works a day job. They are both in their 60s, and his son has some major medical bills that they are helping out with.
After he retired, he paid $20K in 2013 to some "trading guru" for a week just to learn how to day trade. And all the guy taught him was how to do safe channel trading, which you can self-learn online for free.
If he had put all of that $20K into bitcoin at the time and hedl, he'd probably have over $1M by now. Instead he barely has any savings.
He would shit his pants if I told him how much my investment in bitcoin is worth today. He doesn't even know that I own any.
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ChartBuddy
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January 30, 2022, 04:01:21 PM |
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LFC_Bitcoin
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#1 VIP Crypto Casino
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January 30, 2022, 04:25:14 PM |
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He would shit his pants if I told him how much my investment in bitcoin is worth today. He doesn't even know that I own any.
That my friend, is the way to keep it. Never let your normie friends know how rich you are  |
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