OT: Ray, how's your Bitcoin investment going?

[cash05458]

Originally Posted by redir

If Ray bought in 2013 and still holds then Ray is a happy guy. It's all about holding on for the ride. As cyclists we know that risk is something we do every day when we commute to work by bike. You should probably choose not to commute if there is an ice storm in the forecast but if the last couple days have been nice then off you go.

Interestingly, BTC is very volatile, but when you zoom out it really does follow the S and P and the markets in general. It will probably be even more so now that there are BTC EFT's.

that is great...no worries...but you have an entire thread here mentioning one guy...everyone chips in...big laugh...fine...it goes up and everyone now gets touchy about this...come on...this place is fine as long as everyone goes along with the crowd pretty much, even on beatings via one person and thier ideas...so pointing out where the actual thread representative you make jokes about is doing pretty well...well, ok. note to mods: is there any other ongoing thread that mentions one single person here? Thought we were all PC on these things ...or did I get that wrong?

[redir]

Originally Posted by cash05458

that is great...no worries...but you have an entire thread here mentioning one guy...everyone chips in...big laugh...fine...it goes up and everyone now gets touchy about this...come on...this place is fine as long as everyone goes along with the crowd pretty much, even on beatings via one person and thier ideas...so pointing out where the actual thread representative you make jokes about is doing pretty well...well, ok. note to mods: is there any other ongoing thread that mentions one single person here? Thought we were all PC on these things ...or did I get that wrong?

Sorry but I have no idea what you are getting at. But please don't get this thread closed down.

[cash05458]

Originally Posted by redir

Sorry but I have no idea what you are getting at. But please don't get this thread closed down.

Ray was a guy we all knew here years ago ok...got tossed out of the herd...the namesake of this whole thread ...made a **** load of money etc...adn you guys keep it up etc...so? Still does some very fine handle bar wrap if you ask nice...

[redir]

Originally Posted by cash05458

Ray was a guy we all knew here years ago ok...got tossed out of the herd...the namesake of this whole thread ...made a **** load of money etc...adn you guys keep it up etc...so? Still does some very fine handle bar wrap if you ask nice...

You guys?

You mean me?

I've been here longer that you have and have seen people tossed for various reasons. But Okay now... I see your point. Suffice to say I'm happy for those who saw the future of BTC long before I did... So many amazing stories there. Lets let the original person evolved in this live his happy days, meanwhile it's really about BTC.

[rounder]

The FRN guy?

[wc1934]

Guess this is relevant - if not please delete.

Below is a link to utube - The Connect (Johnny Mitchell) interviewing a guy named Ray Trapani (not HBRay). Apparently Netflix made a doc (Bitconned) about his scam.

https://www.youtube.com/watch?v=aD1dEKPFJjU

[mstateglfr]

I opened a Fidelity crypto account in April '23 to stash some money that was left over from a previous employer's stock incentive program.
It's 11 months later and the account is currently worth over 150% of my initial investment.

It's absolutely bonkers and surreal. The initial amount wasn't a ton and even with the absurd growth, the current value isn't a ton.
But my gosh the increase is crazy to see!


I don't regret limiting the account's initial amount. I tossed the money into a crypto account to just see what would happen and view it as monopoly money.
I still don't understand why people view any of it as valuable, and will continue to limit my exposure until I see why it is valued.
But in the meantime, it's been funny to see the line go up up up.

[Ozz]

Originally Posted by cash05458

Ray was a guy we all knew here years ago ok...got tossed out of the herd...the namesake of this whole thread ...made a **** load of money etc...adn you guys keep it up etc...so? Still does some very fine handle bar wrap if you ask nice...

Ray got "tossed"??? I thought he just decided he had better things to do....
Some of his thoughts/opinions weren't mainstream, but he seemed like a good guy so who cares? I always thought the thread title was good-natured ribbing...
I hope he is doing well....

[laupsi]

Originally Posted by mstateglfr

I opened a Fidelity crypto account in April '23 to stash some money that was left over from a previous employer's stock incentive program.
It's 11 months later and the account is currently worth over 150% of my initial investment.

It's absolutely bonkers and surreal. The initial amount wasn't a ton and even with the absurd growth, the current value isn't a ton.
But my gosh the increase is crazy to see!


I don't regret limiting the account's initial amount. I tossed the money into a crypto account to just see what would happen and view it as monopoly money.
I still don't understand why people view any of it as valuable, and will continue to limit my exposure until I see why it is valued.
But in the meantime, it's been funny to see the line go up up up.

Take profits and run!

[Louis]

Originally Posted by laupsi

Take profits and run!

But people were saying the same thing in Dec 2017...

(when it hit a then all-time-high of just under $20k)

[redir]

Originally Posted by Louis

But people were saying the same thing in Dec 2017...

(when it hit a then all-time-high of just under $20k)

Yup, just look at the chart I posted a page or two ago. It basically tracks the stock market, though on any given day of course, it can lose or gain a huge amount because it is very volatile in the short term. But when you zoom out you see long cycles of higher lows and higher highs. It's the volatility and risk that makes the biggest gains... and losses of course. But again, if you hold on to the next cycle, don't freak out, and buy when it's back below it's average value then, so far anyway, it's proven to be a good bet.

A bit further, there's always been FUD about what governments might do and while that has happened it's also become more mainstream too. Most investors won't touch it.... Yet. But when they do?

[verticaldoug]

Originally Posted by redir

A bit further, there's always been FUD about what governments might do and while that has happened it's also become more mainstream too. Most investors won't touch it.... Yet. But when they do?

With the listing of the ETFs , you have removed most obstacles to individuals. You have lower fees, you farm out the holding risk to a big guy like Fidelity or Blackrock for 12 bps / annum. Even when you strip out the transfer of funds from GBTC (high fees) to lower fee ETFs like IBIT, FBTC, you are seeing a healthy inflow of cash into the asset. The amount of cash available in the US financial markets just dwarfs bitcoin. If FOMO ever kicks in, watch out. The converse is also true - reverse FOMO when someone yells fire.

But now for the first time, the big asset managers are seated at the bitcoin punchbowl. And Larry Fink wants you to drink..... have a pint. He pretends he doesn't want you to drink too much, but we all know all that ended with his last crusade - ESG.

[redir]

Originally Posted by verticaldoug

With the listing of the ETFs , you have removed most obstacles to individuals. You have lower fees, you farm out the holding risk to a big guy like Fidelity or Blackrock for 12 bps / annum. Even when you strip out the transfer of funds from GBTC (high fees) to lower fee ETFs like IBIT, FBTC, you are seeing a healthy inflow of cash into the asset. The amount of cash available in the US financial markets just dwarfs bitcoin. If FOMO ever kicks in, watch out. The converse is also true - reverse FOMO when someone yells fire.

But now for the first time, the big asset managers are seated at the bitcoin punchbowl. And Larry Fink wants you to drink..... have a pint. He pretends he doesn't want you to drink too much, but we all know all that ended with his last crusade - ESG.

Yup. My plan in this cycle was to sell once BTC hit it's ATH, maybe a bit after that. But all this good news changed my plan. It actually made it more difficult but I'll hold out a bit longer. My last purchases were in March and those are almost 4x. Might cash out when it hits that then wait till the next cycle.