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Do you buy cryptocurrency when it's at a high, like now?

#61
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JohnnyDoe said:
If you try to buy a finite quantity asset (btc) using an asset with an infinite supply (USD), the value of the finite asset will tend to infinity in terms of the other asset.
Click to expand...
I'm not arguing this logic. I'm just uncomfortable (Bitcoin =unchartered waters) with putting such a high price on a non-producing asset. I hope I am wrong! I really am! ;)
If I'm wrong, I make beaucoup money. ange¤%&
If I'm NOT that "wrong," I have already made 5-digit percentages on Bitcoin. The rest are "diversified" on picked stocks with the new influx of labor-generated cash.

Let me explain with an example:

Bitcoin today (now) on my screen is €65K (and change). Based on stock picking in my circle of competence (e.g., LLY), I would have to believe that Bitcoin will reach €325K. I'm not saying it won't, but I don't see it, I don't understand how, and if I don't see it and I don't understand it, I don't deserve to earn what I don't see or understand. I'm OK and at peace with that. ;)

My example:
Multiples.png


I finally understood (in 2022 and 2023) when you all browbeat me smi(&% to swap my excess USDT (profit from exporting from China) into BTC. It took a while for me to understand, but I did it immediately once I understood it. It has paid enormously! I'm eternally grateful! ;)

PS. To be fair, had banks not been such #ssholes with CRS/AML/KYC/AEOI, etc, I would have probably swapped the USDT to FIAT. But because they ask too many INTRUSIVE questions, etc., I wasn't going to swap significant digits of USDT to FIAT and have tax agencies all over me trying to rob me of at least 50%. ca#"!

PSS. Of course, I am always willing & able to learn and understand (IQ-limiting, of course rof/% ) what you all understand. Right now, I don't. I have NO shame in admitting/confessing I don't understand something, including but not limited to Bitcoin's price being over €250K! Zero shame!
I got married once, and to a ball-busting American feminist girl; how smart could I possibly be? :rolleyes:
How much more honest can I be? :rolleyes:
 
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#62
You don’t buy btc because you hope it will go to the moon. You buy btc because it’s the only decent currency to hold.
Do you care about how much your house is worth in Zimbabwean dollars?
So why should you care about how much your btc are worth in USD?
 
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#63
jafo said:
Bitcoin today (now) on my screen is €65K (and change). Based on stock picking in my circle of competence (e.g., LLY), I would have to believe that Bitcoin will reach €325K.
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as @JohnnyDoe said this is not your main concern
but even if it is just look at gold - I don't want to start yet another flame war fought hundred times before yet its value and role is maybe 5% utility and the rest is given by the fact that it used to be the best way how to conserve value over couple of thousands of years - now it clearly lost versus BTC which will inevitably suck out the value - that should be way enough to reach your goal, not mentioning that inflationary EUR/USD will help a lot if you still think in fiat

and there are bonds , art, real estate and many other obsolete tools used in desperate endeavour to avoid slow financial death
 
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#65
the fact you can carry your wealth around the world with zero obstacles (in extreme case by just memorizing couple of words) gives incredible peace of mind
and it's also the only thing you can literally take to your grave with you :D
 
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#67
>> I'm not arguing this logic. I'm just uncomfortable (Bitcoin =unchartered waters) with putting such a high price on a non-producing asset.

That's why I thing ETH will have more growth % future. People can use ETH for a lot of things, smart contracts and so on. Also it's more quick. And just imagine, growth from 4k to 8k (x2) imo much more easier than growth from 70k to 140k (x2). And yes, it's hard actually to understand how just note in the blockchain can cost even 70k. About ETH and other some kind of Crypto it's okay - you can do a lot of things with them, like I told. And for example you can stake ETH and do more ETH with this. But you can't stake BTC.

Many other cryptocurrencies look much more useful than Bitcoin. And the cost gap between them is huge. Compare 4k and 70k. This is too much money... Again, I do not argue that Bitcoin can rise to a million. It's just somehow illogical. Well, in any case, the logic of the growth from 4k to 8k in the near future looks somehow more interesting.
 
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#68
Dreamy said:
>> I'm not arguing this logic. I'm just uncomfortable (Bitcoin =unchartered waters) with putting such a high price on a non-producing asset.

That's why I thing ETH will have more growth % future. People can use ETH for a lot of things, smart contracts and so on. Also it's more quick. And just imagine, growth from 4k to 8k (x2) imo much more easier than growth from 70k to 140k (x2). And yes, it's hard actually to understand how just note in the blockchain can cost even 70k. About ETH and other some kind of Crypto it's okay - you can do a lot of things with them, like I told. And for example you can stake ETH and do more ETH with this. But you can't stake BTC.

Many other cryptocurrencies look much more useful than Bitcoin. And the cost gap between them is huge. Compare 4k and 70k. This is too much money... Again, I do not argue that Bitcoin can rise to a million. It's just somehow illogical. Well, in any case, the logic of the growth from 4k to 8k in the near future looks somehow more interesting.
Click to expand...
so much nonsense in just a few words - be careful and learn before you do anything and get hurt
 
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#69
void said:
so much nonsense in just a few words - be careful and learn before you do anything and get hurt
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Before telling others that their message is nonsense, I will remind you that a couple of messages above you wrote that Bitcoin should be bought at any price. which is no less dubious a statement than Dreamy's message. Because in fact, buying Bitcoin 'at any price', during the euphoria and fomo, ruined most cryptocurrency investors in previous years.
 
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#72
Dreamy said:
We are simply sharing our thoughts here. If you have different thoughts than me, I'd be happy to hear your opinions and experiences.
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sorry, I really don't know how to constructively respond to a statement like this
Dreamy said:
Compare 4k and 70k. This is too much money...
Click to expand...
or
Dreamy said:
And just imagine, growth from 4k to 8k (x2) imo much more easier than growth from 70k to 140k (x2)
Click to expand...
or
Dreamy said:
it's hard actually to understand how just note in the blockchain can cost even 70k
Click to expand...

John Spectre said:
buying Bitcoin 'at any price', during the euphoria and fomo, ruined most cryptocurrency investors in previous years.
Click to expand...
it has been a winning strategy so far and only those with paper hands got burned
 
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#73
void said:
it has been a winning strategy so far and only those with paper hands got burned
Click to expand...

if you consider only the maximum/current price factor, then there is no difference with the words Dreamy either. Both assets: ETH and BTC are close to their ATH at the moment and historically long enough holding leads to profit. The real reasons for such growth are a different and debatable question, but with a high degree of probability, they will continue to grow together, or fall, too, together.
 
#74
jafo said:
I'm not arguing this logic. I'm just uncomfortable (Bitcoin =unchartered waters) with putting such a high price on a non-producing asset. I hope I am wrong! I really am! ;)
If I'm wrong, I make beaucoup money. ange¤%&
If I'm NOT that "wrong," I have already made 5-digit percentages on Bitcoin. The rest are "diversified" on picked stocks with the new influx of labor-generated cash.

Let me explain with an example:

Bitcoin today (now) on my screen is €65K (and change). Based on stock picking in my circle of competence (e.g., LLY), I would have to believe that Bitcoin will reach €325K. I'm not saying it won't, but I don't see it, I don't understand how, and if I don't see it and I don't understand it, I don't deserve to earn what I don't see or understand. I'm OK and at peace with that. ;)

My example: View attachment 6988

I finally understood (in 2022 and 2023) when you all browbeat me smi(&% to swap my excess USDT (profit from exporting from China) into BTC. It took a while for me to understand, but I did it immediately once I understood it. It has paid enormously! I'm eternally grateful! ;)

PS. To be fair, had banks not been such #ssholes with CRS/AML/KYC/AEOI, etc, I would have probably swapped the USDT to FIAT. But because they ask too many INTRUSIVE questions, etc., I wasn't going to swap significant digits of USDT to FIAT and have tax agencies all over me trying to rob me of at least 50%. ca#"!

PSS. Of course, I am always willing & able to learn and understand (IQ-limiting, of course rof/% ) what you all understand. Right now, I don't. I have NO shame in admitting/confessing I don't understand something, including but not limited to Bitcoin's price being over €250K! Zero shame!
I got married once, and to a ball-busting American feminist girl; how smart could I possibly be? :rolleyes:
How much more honest can I be? :rolleyes:
Click to expand...
the strongest currencies yield the least. The worst/weakest currencies yield the most.

Dreamy said:
>> I'm not arguing this logic. I'm just uncomfortable (Bitcoin =unchartered waters) with putting such a high price on a non-producing asset.

That's why I thing ETH will have more growth % future. People can use ETH for a lot of things, smart contracts and so on. Also it's more quick. And just imagine, growth from 4k to 8k (x2) imo much more easier than growth from 70k to 140k (x2). And yes, it's hard actually to understand how just note in the blockchain can cost even 70k. About ETH and other some kind of Crypto it's okay - you can do a lot of things with them, like I told. And for example you can stake ETH and do more ETH with this. But you can't stake BTC.

Many other cryptocurrencies look much more useful than Bitcoin. And the cost gap between them is huge. Compare 4k and 70k. This is too much money... Again, I do not argue that Bitcoin can rise to a million. It's just somehow illogical. Well, in any case, the logic of the growth from 4k to 8k in the near future looks somehow more interesting.
Click to expand...
Nah. Youd be better off with dogecoin applying your logic.

John Spectre said:
Before telling others that their message is nonsense, I will remind you that a couple of messages above you wrote that Bitcoin should be bought at any price. which is no less dubious a statement than Dreamy's message. Because in fact, buying Bitcoin 'at any price', during the euphoria and fomo, ruined most cryptocurrency investors in previous years.
Click to expand...
No, it did not ruin anyone if they really keep it down to DCA. And every single person doing constant DCA since 2017 would sit on massive wins.

But most chicken out when a thing drops 50% and stop doing DCA or even sell at the lows.
Thats how markets work, theres no charity and no mercy. Your convictions will get tested and without any form of long term thesis, convictions will get lost easily in the day to day emotional rollercoaster.
 
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#75
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#76
JohnLocke said:
Do you invest in Dogecoin ?
Click to expand...
Not invest, but I use it just for gambling-like purposes especially when Im bored.

Imo no altcoin (including eth) can be used for investing, due to them having semi-hidden insider cronies, being centralized while no disclosure mechanisms nor rules protect buyers against insider dealing and pump/dump activities.

I only invest in bitcoin from the digital asset space, bc its the only one there which has sound fundamentals and no alt-coiner like insider cronies.
 
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#77
JackAlabama said:
the strongest currencies yield the least. The worst/weakest currencies yield the most.


Nah. Youd be better off with dogecoin applying your logic.


No, it did not ruin anyone if they really keep it down to DCA. And every single person doing constant DCA since 2017 would sit on massive wins.

But most chicken out when a thing drops 50% and stop doing DCA or even sell at the lows.
Thats how markets work, theres no charity and no mercy. Your convictions will get tested and without any form of long term thesis, convictions will get lost easily in the day to day emotional rollercoaster.
Click to expand...

and instead of watching how the crypto portfolio fell in price by 50-70-80%, at the beginning I suggested entering the crypto, at least at the levels of rollback, correction, dump. but you are telling me about some mythical people who must follow DCA when reducing their portfolio by 2-3 times. If there are at least 5% of people on earth who can do such DCA, that’s already cool. but most are doomed to lose if their entry is bad. they are afraid and sell at the bottom, fear is normal and all people are afraid. The example of people on this forum is another confirmation of this.

And people who start DCA in 2018 in profit now only because entry price was quite good, they didn't saw great reduction of their portfolio.
 
#80
Jorozey said:
While you are scared thinking you are buying the top or wondering if you can get a bigger discount, the Institutions/Whales are buying.


Buy BTC whenever you can thu&¤#

View attachment 7003
Click to expand...
How is this lost on you? :rolleyes:

How?

Right now, with your grocery, healthcare, and pension money, I am willing to buy BTC at €1M/coin! I won't even blink! Why should I?
H3LL! I'm even willing to buy it at €1 trillion/coin with YOUR money! No sweat off my *ss!
If it goes higher WE win!
If it goes down, YOU lose!

Enjoy your retirement!

Seriously, how do you NOT comprehend these dynamics? :rolleyes:
 
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