Crypto $$$

[fordomatic]

Originally Posted by zilo

So...bought at $460 and now at $30k.

Shouldn't you be on the Lamborghini forums instead of Ford Forums?

Everyone's a winner....

Where does the profit come from?

From new suckers who pay $30k for them...and an ever increasing number of new suckers needed to keep fuelling it.

Would love to hear from those that bought at $60k and now worth $30k..

Well I like to think my P250 is a bit like a lambo and my G6E, that’s how I afforded them anyway.

My stories about Crypto are on this very thread if you care to read them. I sold most of mine 4 years ago and made a very tidy profit that I won’t go into.

My wife’s uncle bought 2500 when they were $1. He sold 90% of them when BTC hit $18,000. They paid a looooot of tax but they now own a 100 acre mansion on the beach in the mid north coast. They were middle income earners before this.

Crypto, like shares in my eyes is gambling. Put in what you can afford to lose. No one ever became rich without taking some sort of risk, how much risk is up to you.

Also, I’m not a huge Crypto die hard, it’s just one of my many investment strategies.

Originally Posted by sneaky

you called?

I jumped in when everything was near the peak and everyone had stories of being overnight millionaires.. but because I'm sensible or cheap I only threw in $300, took some small gains, and now my $300 is worth $50

meh, it was nice to dream but I was never going to be prepared to risk enough to gain big

It takes time, days of it happening overnight won’t happen. I waited 3 years for one of my coins to come back from a big fall of 97% of value. Cashed that coin out at 1400% profit. Swings and roundabouts.

Another coin i have a small amount in is down 96% on what I paid. I’ll just leave it there until it’s completely worthless.

Also, didn’t invest more than you could afford, if you lose that $300 you just chalk it up as experience.

[Polyal]

Originally Posted by fordomatic

Crypto, like shares in my eyes is gambling. Put in what you can afford to lose. No one ever became rich without taking some sort of risk, how much risk is up to you.

This, which IMO is the same as the greater share market.

Im dirty I didnt throw in some money to give it a go, but I didnt/dont have the time or care to make it happen so I cant begrudge those that have.

Its not different to going to the casino.

I have a strong distaste for crypto as its just not tangible, its like the trump of the finance world, and like any con it is propped up by speculation and hype. When poo hits the fan what have you got at the end? Perhaps its more the principle I dont like but if your goal is to make money with no boundaries then its hard to knock.

Meh

[Citroënbender]

Even the last two days, if you traded quickly there is good profit to be taken. Not sure the heavy falls have ceased but it’s definitely rebounded a little. Given popularity of Bitcoin on the darkweb, I think it will be around for a while…

[hayseed]

Originally Posted by Citroënbender

Given popularity of Bitcoin on the darkweb, I think it will be around for a while…

Whilst I have no Dog in this Fight.. I'm inclined to agree!

Bitcoin will be the main (if not only) Crypto survivor. The rest are just true Ponzi Scams in My opinion..!