Mother keeps bugging me about her money.

[thedarksun]

In the beginning of january my mom gave me 3000dollars with which i bought nmc when they were 8 short before plumbing to 6<. Now she keeps bugging me where her money are because it has been some months. Do you guys think we will see an upswing in prices in summer because im gettin desperate here. She will kil me if NMC dies and all money are gone.

[PredatorZ]

To be safe, you should work at a gas station or as a prostitute while you are waiting. But do not use your normal telephon number.

[thedarksun]

To be safe, you should work at a gas station or as a prostitute while you are waiting. But do not use your normal telephon number.

 Im serious bro. What if btc stays 600< all summer?

[scottsecret]

I wouldn't necessarily expect it to go up anymore.  You better find a way to hedge.

[One Six]

In the beginning of january my mom gave me 3000dollars with which i bought nmc when they were 8 short before plumbing to 6<. Now she keeps bugging me where her money are because it has been some months. Do you guys think we will see an upswing in prices in summer because im gettin desperate here. She will kil me if NMC dies and all money are gone.

Explain to her your gamble and apologize. If you have spare btc, daytrade on coins with volume.

[whywefight]

In the beginning of january my mom gave me 3000dollars with which i bought nmc when they were 8 short before plumbing to 6<. Now she keeps bugging me where her money are because it has been some months. Do you guys think we will see an upswing in prices in summer because im gettin desperate here. She will kil me if NMC dies and all money are gone.

dont play with money you dont have

[HCLivess]

Explain to her that she did not need the money in the first place

[thedarksun]

I wouldn't necessarily expect it to go up anymore.  You better find a way to hedge.

So you mean ive already lost all the money? What the fk. I am done dor.

[Spoetnik]

your screwed.. the only reason at all it was priced as it was way back then is because of people like you who
who came in in droves flooding this scene buying everything that was not nailed down for obscene and often stupid prices..
the market died down and the new users came to a trickle and the new guys started to smarten up.

I started before the crowd came and we we're waiting for you guys for ages ready to sell you high priced coins..
holding a knife and fork tongue hanging out with a napkin tucked in our shirts lol
we all laughed about it regularly on Cryptsy chat saying their coming....
And sure enough you guys did and threw your cash around like crazy.
All i seen every couple seconds on chat was how do i transfer money from my bank account to Cryptsy lol

those days are gone and the scene went 1000000x more scammy insuring no professional people will ever set foot in here EVER again !
Blame the Doge 'tards, greedy exchanges etc and moron noobs throwing money around.. kids shoudln't be spending big money sorry.

your money is gone .

[thedarksun]

Explain to her that she did not need the money in the first place

This. In my experience, older people have money, but no fucking clue what to do with it. Oh, and they don't get that, in the short term, prices fluctuate.

One of the saddest things I say to illustrate this was a professor I had. Asshole was making $250k-$300k a year. We're taking a test and the smug bastard gets a call from his "broker," Doug from eTrade, that he takes during the class. Doug has him put $100k in the S&P 500. I later mention to him that at the moment, the S&P 500 is supremely overvalued by traditional metrics. I ask if he's familiar with growth vs value funds. He's not (oh, did I mention he's a fucking accounting professor).

Additionally, this $100k was his CAR FUND?!? And he needed it in a year (ummm, 5 seconds online will tell you that you not to put money at risk that you need in less than a year, ideally 3+ years). I was literally sick. Who the fuck spends $100k on a car and knows fuck all about basic finance?

How much are you down? How much remains of the $3k?

Well nmc is 1.9 right now so its only 2/8 from 3k.....

[thedarksun]

your screwed.. the only reason at all it was priced as it was way back then is because of people like you who
who came in in droves flooding this scene buying everything that was not nailed down for obscene and often stupid prices..
the market died down and the new users came to a trickle and the new guys started to smarten up.

I started before the crowd came and we we're waiting for you guys for ages ready to sell you high priced coins..
holding a knife and fork tongue hanging out with a napkin tucked in our shirts lol
we all laughed about it regularly on Cryptsy chat saying their coming....
And sure enough you guys did and threw your cash around like crazy.
All i seen every couple seconds on chat was how do i transfer money from my bank account to Cryptsy lol

those days are gone and the scene went 1000000x more scammy insuring no professional people will ever set foot in here EVER again !
Blame the Doge 'tards, greedy exchanges etc and moron noobs throwing money around.. kids shoudln't be spending big money sorry.

your money is gone .

well i guess thats it. I am fucked

[voluntarist500]

lol. you sell now and see the price shoot back to 8$ as soon as you sold. That's how it works :p

[thedarksun]

Well nmc is 1.9 right now so its only 2/8 from 3k.....

What's this in dollars? You have $750 worth of namecoin left?

Maybe but why does it matter im not touching them until NMC is 8+ again...

[Raxe.io]

You are only at a loss if you cash out. Always remember this, there is no saying Namecoin will not go up. Bitcoin is on a downward trend due to China news therefore Namecoin will go down.

[thedarksun]

You are only at a loss if you cash out. Always remember this, there is no saying Namecoin will not go up. Bitcoin is on a downward trend due to China news therefore Namecoin will go down.

Pf course. I just wonder how long this stagnant period will keep up. I have no problem waiting but my mother does however.

[thedarksun]

Maybe but why does it matter im not touching them until NMC is 8+ again...

Okay, you're 75% down. I'm in a similar boat (not as much though, maybe 50%+, maybe less when CR opens back up). Then again, I'm in 500+ different coins. My thinking on these is similar to Spoetnik. I'm waiting for the next wave (if it does come), and will consider selling out then. I started in January of this year and have been buying as the price of BTC has been falling, so not at the peak, but not at the cheapest time either.

Ask your mom for another $3k, invest equally in all the coins, and wait.

Lmfao if i would ask her for more money she would slap me acrossy face i guarantee it

[Raxe.io]

You are only at a loss if you cash out. Always remember this, there is no saying Namecoin will not go up. Bitcoin is on a downward trend due to China news therefore Namecoin will go down.

Pf course. I just wonder how long this stagnant period will keep up. I have no problem waiting but my mother does however.

The market is a free market. You are better off trying to make her understand it. Risk and loss is a part of the process the coin isn't bad and has some great development so I don't see why it can't increase.

[1Referee]

your screwed.. the only reason at all it was priced as it was way back then is because of people like you who
who came in in droves flooding this scene buying everything that was not nailed down for obscene and often stupid prices..
the market died down and the new users came to a trickle and the new guys started to smarten up.

I started before the crowd came and we we're waiting for you guys for ages ready to sell you high priced coins..
holding a knife and fork tongue hanging out with a napkin tucked in our shirts lol
we all laughed about it regularly on Cryptsy chat saying their coming....
And sure enough you guys did and threw your cash around like crazy.
All i seen every couple seconds on chat was how do i transfer money from my bank account to Cryptsy lol

those days are gone and the scene went 1000000x more scammy insuring no professional people will ever set foot in here EVER again !
Blame the Doge 'tards, greedy exchanges etc and moron noobs throwing money around.. kids shoudln't be spending big money sorry.

your money is gone .

That comment says it all!

Why did you even bother buying NMC at such a high price ? At that time everything was sooo frickin expensive that only gamblers were buying way overprised coins.

Look at Litecoin, I'm sure there are still people holding $40 LTC...... Why on earth would anyone buy LTC above $20 and hold it ?

Be smart next time and don't buy with money you can't afford to lose. I'm sorry to say, but 90% chance that you lost the most of that $3000

[thedarksun]

your screwed.. the only reason at all it was priced as it was way back then is because of people like you who
who came in in droves flooding this scene buying everything that was not nailed down for obscene and often stupid prices..
the market died down and the new users came to a trickle and the new guys started to smarten up.

I started before the crowd came and we we're waiting for you guys for ages ready to sell you high priced coins..
holding a knife and fork tongue hanging out with a napkin tucked in our shirts lol
we all laughed about it regularly on Cryptsy chat saying their coming....
And sure enough you guys did and threw your cash around like crazy.
All i seen every couple seconds on chat was how do i transfer money from my bank account to Cryptsy lol

those days are gone and the scene went 1000000x more scammy insuring no professional people will ever set foot in here EVER again !
Blame the Doge 'tards, greedy exchanges etc and moron noobs throwing money around.. kids shoudln't be spending big money sorry.

your money is gone .

That comment says it all!

Why did you even bother buying NMC at such a high price ? At that time everything was sooo frickin expensive that only gamblers were buying way overprised coins.

Look at Litecoin, I'm sure there are still people holding $40 LTC...... Why on earth would anyone buy LTC above $20 and hold it ?

Be smart next time and don't buy with money you can't afford to lose. I'm sorry to say, but 90% chance that you lost the most of that $3000

In other wordS you are saying its a 90% risk that NMC will never go to 8dollars again?

[thedarksun]

Lmfao if i would ask her for more money she would slap me acrossy face i guarantee it

Why? Does she not understand investing? Is she like most "adults" who see index funds as safe but don't see that the Russel 2000 is at a trailing 100 P/E ratio (average should be 25-30)? If traditional stocks burst, I have a feeling people will want to speculate in this new market. And a rising tide raises all boats.

Cryptos are new for me. I'm typically a long-term, cheapo investor. I don't do technical analysis and that's all you have to really go on with these. But what the hell. You can make a lot on them or lose everything. If you/she loses $6k, no biggie.

My mother is of the old age, she can barely manage a computer let alone understand stocks. She was reluctant to give me money in the first place but did so becausr i promised her fast risk-free money...