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Author Topic: How I know that the Bitcoin boat has sailed  (Read 14706 times)
Herodes
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February 18, 2013, 02:03:13 PM
 #81

I know the ship has sailed because I have finally put money into Bitcoins and every investment that I finally get around to making is at the end of its hayday.

Do you realize how illogical that statement is ? If 100 men invests randomly, some will become millionaires, some will break even, some will go to the poorhouse, and a host of results in between, it's like tossing a coin, sometimes you get heads 3 times in a row, that doesn't mean you're blessed or if you get 3 tails in a row that doesn't mean you're cursed. It's just statistical variance.
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February 18, 2013, 09:16:07 PM
 #82

I know the ship has sailed because I have finally put money into Bitcoins and every investment that I finally get around to making is at the end of its hayday.

Do you realize how illogical that statement is ? If 100 men invests randomly, some will become millionaires, some will break even, some will go to the poorhouse, and a host of results in between, it's like tossing a coin, sometimes you get heads 3 times in a row, that doesn't mean you're blessed or if you get 3 tails in a row that doesn't mean you're cursed. It's just statistical variance.

He just thinks the universe revolves around him. lol...

OP so fail.

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February 18, 2013, 10:17:34 PM
 #83

Remember once hearing some casual wisdom on investing, about how if you got into an investment other people had heard about, it was already too late. So yeah, maybe your bitcoin (get rich quick) boat has sailed.

more or less retired.
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February 18, 2013, 11:04:30 PM
 #84

Lately, there have been, on this forum and elswhere, a number of questions abut the sensibility in putting some or a lot of your savings in Bitcoin.

What that means is that people not knowing much about Bitcoin now are considering it as a longterm investment medium on par with the other options a smal time investor has.

This is of course good news for the market cap, but it's also something that can backfire. Not only on the unlucky investor but also on Bitcoin in general.

The last peak hurt some for sure, including the few that had put a lot of money in Bitcoin late in the game.

If we imagine people in the thousands getting burned like that sometime in a "distant" future in a flash crash, Bitcoin will be blamed as the suspicious asset.
Bank people will love crawling all over the dangers of using and investing in an unbacked currency.

This would be free endorsment for established banking! It may be followed by law suits against exchange businesses and laws against Bitcoin.

So any newb asking for such advice, should be warned by anyone here and elsewhere not to invest more than funny money in Bitcoin.

The fact that anyone asks such a question, should alone be enough to determine that they don't know what they are getting into.

Satoshi warned us once about getting too carried away!


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February 19, 2013, 01:28:01 AM
 #85

My hope is that Bitcoin will go lower for the next few months when I can finally buy again starting around February when I should have some more money again to buy.

So...buy now...it'll probably go way up.

Then in February another downtrend will begin.

Smiley

Amazing, but you can't be so lucky to call all the top Wink

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