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

[ridethecliche]

Originally Posted by redir

$40,000

I keep forgetting to swing trade RIOT haha.

[redir]

Originally Posted by ridethecliche

I keep forgetting to swing trade RIOT haha.

I got burned too many times trying to swing trade. I just DCA in on BTC now when it's below the fair market value curve in undervaluation territory, then pause once it's in overvaluation, perhaps selling. I'm mostly on a long term ten year plan.

The last big purchases I made of BTC was when it was at $18 and then again at $20k with DCA in all along. It's fun to watch it run but I don't plan on touching it till I retire. Fingers crossed.

Good luck on the swing trading.

[Louis]

Gift link:

https://www.nytimes.com/2023/12/05/b...smid=url-share

Bitcoin Soars on Hopes of Investment Fund Approval

The cryptocurrency has gained roughly 150 percent this year, as investors bet that regulators will soon approve the first spot exchange-traded fund that is designed to track the price of Bitcoin.

Let's burn some more fossil fuels to power those mining farms.

[Louis]

Well, well, well, the SEC allows financial firms to offer ETFs tracking bitcoin.

Time to use some more energy mining BTC.

[adub]

Originally Posted by Louis

Time to use some more energy mining BTC.

Or mindlessly surfing on the interwebz..

[Louis]

No one here would ever do that.

[rounder]

I went to our local Harford Mall the other day. The mall is pretty much a ghost town these days. I was walking around and saw an ATM where you could buy bitcoin. Never saw one before so started pressing buttons to see what it was about. First you selected how much in bitcoin that you wanted to buy. The amounts ranged up to $15,000. Then you had to enter your phone number. I did not go beyond that. It looked like it accepted credit cards. I do not know anyone who goes to the mall to buy bitcoin...maybe for the impulse buyer.

[Davist]

The picture posted above is of a google data center and not indicative of a bitcoin mine. the below is more typical. Not a lot of electrical cord management...

[redir]

Originally Posted by rounder

I went to our local Harford Mall the other day. The mall is pretty much a ghost town these days. I was walking around and saw an ATM where you could buy bitcoin. Never saw one before so started pressing buttons to see what it was about. First you selected how much in bitcoin that you wanted to buy. The amounts ranged up to $15,000. Then you had to enter your phone number. I did not go beyond that. It looked like it accepted credit cards. I do not know anyone who goes to the mall to buy bitcoin...maybe for the impulse buyer.

There is a little convenience store in my town that takes Bitcoin. Also some of the order online food apps do too. In my own guitar repair and guitar making business I will accept several crypto currencies though it's very rare that anyone uses it and honestly it's mostly just b/c it's a hoot. At least at this point anyway.

BTC hit 48k yesterday. That's X3 from my last investment in March. Woot!!! It's a weird cycle though because with the halving coming up we all expect it to drop down under 40k again.

[BobbyJones]

I was just reading a click bait article about the recent BTC high and was thinking about this thread and our friend Ray.

Hard to believe BTC was at around 15(??) when Ray started talking about it.

I may have said this before in the 50 some odd pages, but I sure do hope he kept some and spent even more!

[Louis]

Originally Posted by BobbyJones

I was just reading a click bait article about the recent BTC high and was thinking about this thread and our friend Ray.

Hard to believe BTC was at around 15(??) when Ray started talking about it.

I may have said this before in the 50 some odd pages, but I sure do hope he kept some and spent even more!

For things like this, as much as I might kick myself for not being smart (foolish?) enough to buy at the beginning (and I don't) you also have to ask yourself if you would have had the stomach to hold it through all the ups and downs, and what, if any, your strategy would have been to know when to sell. A plot of BTC over the years shows it all over the place - how many who bought at 15 would have held until today?

[prototoast]

Originally Posted by Louis

For things like this, as much as I might kick myself for not being smart (foolish?) enough to buy at the beginning (and I don't) you also have to ask yourself if you would have had the stomach to hold it through all the ups and downs, and what, if any, your strategy would have been to know when to sell. A plot of BTC over the years shows it all over the place - how many who bought at 15 would have held until today?

Also, how many who bought at 15 have been victims of hacks and had all their money stolen?

[laupsi]

Originally Posted by redir

BTC hit 48k yesterday. That's X3 from my last investment in March. Woot!!! It's a weird cycle though because with the halving coming up we all expect it to drop down under 40k again.

Bitcoin=Investment=Oxymoron



Bitcoin=Pure Speculation

[BobbyJones]

Well,I’m happy for people when they win the lottery too.

You guys….SMH

[Tony T]

Originally Posted by Louis

For things like this, as much as I might kick myself for not being smart (foolish?) enough to buy at the beginning (and I don't) you also have to ask yourself if you would have had the stomach to hold it through all the ups and downs, and what, if any, your strategy would have been to know when to sell. A plot of BTC over the years shows it all over the place - how many who bought at 15 would have held until today?

There are a few, but only those who lost their passcode