I’ve never stuck my money in anything quite so staggering as that, and it’s probably not worth investing in Bitcoin now because the price is so high - can you still mine for them? How do you do that exactly?
It’s really nice and generous that you gave money to friends and family too.
I’m available for adoption by the way … < laughs > you’d like me, I play this game called EVE …
Right now the price of bitcoin is too high. You can’t buy enough coins to flip down the road unless you’re already independently wealthy. At which point, why bother?
I’ve been doing a lot of research on cardano, but you have to consider the current market it’s in. It’s primarily used by japanese people, which enjoy a relatively stable financial system. They do limit the number of coins, but I don’t expect as much growth as bitcoin, due to the sheer number of coins, and the fact that the japanese don’t fear their market like americans do.
Ethereum seems to be doing well, but they have no limit to number of coins, so my research pretty much stopped there.
Point is, with proper research and a little more than basic understanding of the technology, there are good investment choices still available.
You can still mine, but keep in mind you need a high end computer to participate. You don’t simply get paid for being successful, you have to be the First miner to come up with the hash. It’s a significant investment to even start, but due to the sheer number of transactions can be a good avenue. I’ve never mined, and I only personally know one person that does. He seems to be doing well.
I think it’s familial and friendship responsibility to give money to your loved ones when you fall into it.
To be honest, I wasn’t sure bitcoin would make me rich. I would have been very happy if it had plateaued at $20 a coin. I just so happened to be deployed when it jumped to $700+ and thought “what the hell, keep it in and see where this crazy train takes you.”
For all the arguing on this thread, I will say that they were right when they said it was a gamble. If it flopped like previous attempts, it would have been a wasted amount of money.
Luckily americans are very paranoid and distrustful, so cryptocurrency has done well.
It has also to do with the fact that we now have more than 10 years of financial history that show that crypto is one of the most uncorrelated assets. Also because it is around for so long it becomes a lot less risky. This adds a completely new class for investors to spread risk.
This is why currently a lot of individual investors, institutions and companies are starting to adopt it as a reserve asset. Only a small position to further diversify their portfolio and minimize risk. And also why wouldn’t anyone have a position in the best performing asset.
I’m still extremely bullish. In my opinion this run will continue at least until Q3 and we will most likely see 100k or at least get very close
21 million coins were sold to early investors. There are countless stories of people making it big by holding onto it.
There are also countless stories of people selling it off at the slightest hiccup or gain.
Either way, I’m doing very well. I don’t particularly care if a few forum trolls from eve online believe me.
I don’t put my words out there hoping to gain friends. I state my opinion and facts that dictate events, and I try not to offend people.
Other than that, I don’t honestly care
I relay my case as an example as to why the claim that it’s a ponzi scheme are false.
In ponzi schemes, usually only insiders of the scheme make out with a lot of money.
That isn’t the case with my situation. I was a nobody that invested a relatively small amount and got huge rewards.
I sold the majority of my coins in 2020. So I’d say yes, I’m relatively new to my wealth.
Ego boost thread? I put in tickets asking gms and never got a response, so I put it on the forums. Still no official response, but the case has been made against it by intelligent players.
The original question was answered to my satisfaction.
The resulting thread comes from trolls, and my manic need to explain myself, as well as several people that are truly invested in correcting misinformation about cryptocurrency.
Yes, I did.
Price fluctuates depending on who and how you sell them. Average price peaked in December, and jumped early 2021.
You’re trying to argue the average price vs what people trade at. Some are higher, some are lower.
That’s what average means. (Play on words).
Some, not usually large sums.
In ponzi schemes, you don’t hold on for over a decade and cash out big.
You cash out early and made, perhaps, some profit. Again, usually only insiders of the scheme cash out big.
I would imagine the buyers were projecting futures and are currently very happy with their investment. Especially if the current idea holds true and the gains are even more significant.
That’s the beauty of telling the truth. I don’t have to do “due diligence” to fabricate anything. It doesn’t matter what your opinions are on the matter.
The transactions went through, my bank held the money for the required amount of time, then I started spending it.