Burn BTC Burn
I'm tired of seeing threads where masses of uninformed people seek 'investing' advice for crypto currency. Currencies are not vehicles for investment. Currencies are supposed to be the most liquid and risk free assets and therefore have little to no upside. (You could use various strategies/leverage but unless you're sophisticated enough, you're likely better off gambling) If you have to ask people on blind for advice you are not informed enough to have an advantage. READ: You're swimming with sharks. GTFO If you need investing advice. Check out r/personalfinance. Read and really try to understand the methodology. It's simple and straightforward. DCA some index fund and work on improving your skill set so you can do something you actually love instead of dreaming about some early retirement beach house. To the lucky ones that struck gold, GRATS! Consider using that money to make the world a better place. Check out Effective Altruism. There's a lot of problems in the world that could use your skills or money. Please don't fuel any more of this crypto currency nonsense. Cheers, trash
I thought diversity was key. Surely we should diversify our currency holdings across all available options including bitcoin, litecoin, dogecoin, namecoin, etc
Wow what a cool guy OP how do I be as cool as you bro
BTC is a commodity. Not a currency.
Really? Part of the name is coin tho. Most of the appeal is decentralization of currency. Are you really going to argue that BTC is the equivalent of soybeans? Wake up.
Thanks for confirming.. we now know all uber engineers are full of shit.. :)
Nice post OP. :)
I see people here often say ‘OP’. What’s that?
Original poster
Not sure why so much hate OP. If you disagree with what is happening in the crypto space, power to you. If some people want to give it shot, tossing in a small investment to see what happens, I’m just trying to share what I’ve seen/learned actively digging through this space. No need to trash other people’s threads and interests. You are not righteous.
If people want to speculate. Power to them. The vast majority of people can't even tell investing and speculation apart. You are not a financial advisor. Don't spread bs. Dont ask your echo chamber to flag people trying to throw warning signs in your threads. Here's a template for your future threads Disclaimer: I've already made hella money and most of the time I don't know why. Here's what I think may be going on. YMMV (insert bs)
I don't think you can tell too haha. You are like an old man yelling at the sky.
Tldr; you missed out on the fun and are trying to use logic to mask your jealously? Don't worry even the lucky folks who made 5,000%+ are jealous of those who invested more.
Here come the trolls. Hi, I'm very much enjoying the drop because of people like you. I feel sad though that people are getting hurt. GLHF with your 5000% gains. Consider sharing some of your skills or some of that wealth to helping solve some of the worlds problems. cheers
GLHF?(not familiar with that acroynm) It's not a skill, an investment in crypto is speculation. A year ago eth seemed cool and worth a gamble. Got super lucky. Feel like I can do a lot more to help others with extra cash. What part is trolling or has you so worked up?
Telling people not be early adopters and then linking to Reddit. This is peak bugman.
Early adopters of what exactly? Shakeweight? Feels like BTC positive threads are just massive circlejerks. Links are great. You should try linking to some insightful articles or discussions around BTC/crypto. At least that will show you've given it some thought. here's one I like https://www.quora.com/What-does-Asim-Qureshi-think-about-the-future-of-Bitcoin
You can clearly see from his answer he has NO CLUE what blockchain is. He equate it to himself saying he print limited Asim dollars. LOL he can't even see the value is not just limitation but the tech ... Feel bad for fools like you just like an uneducated sheep listening to non expert.
Ugggh, OP is objectively not knowledgeable about this topic. AT ALL * OP discovered today that BTC is OFFICIALLY a commodity. What rock have you been living under? * “Currencies are not vehicles for investment. “ - DF?! You literally never heard of currency trading? Google George Soros * “You're swimming with sharks [on Blind]” - actually no. Your lack of financial knowledge is on par for Blind. You’re a guppie don’t (false) upgrade yourself. The financial sharks are where they always were. Wall Street bars and strip clubs. * “DCA some index fund and work on improving your skill set ... instead of dreaming about some early retirement beach house.” - investments are passive activities so they don’t limit you improving your (prodigious) skill sets. Besides skills and FIRE are not mutually exclusive. * “Please don't fuel any more of this crypto currency nonsense.” - as @public noted, this reeks of butthurt from missing out. #fomoIsReal * “Trash” - yup, on this we agree. This is poorly written trash.
Interesting responses. I'll keep this civil. Yes the designation as a commodity surprises me. Based on your reaction, the acceptance by the community surprises me as well. Was this not supposed to be currency? Was that not the basis on which this currency gained legitimacy? What does it mean for adopters now that the it's considered a commodity by the IRS, for companies considering Icos, etc? These are serious hurdles that hamper adoption. What does it mean now that speculators around the world are able to pump and dump the currency at will? I'm very aware of forex and trading currencies. I will admit I don't have a comprehensive understanding of how that works. However, trading is NOT investing. Without an advantage (speed of light) you're actually worse off than gambling. The fact that the sharks have always been there should be a deterrence, NOT a greenlight. Agreed that skills and FIRE are not mutually exclusive. But the motivation of many people going into BTC is so they can retire and 'figure it out' later / follow their passion. What I'm suggesting I believe is a healthier approach. You don't need to retire early to enjoy your life. You can enjoy it right now (it'll take a bit more work to get there :/) I'm not butthurt. If anything I don't want people to get burned. Lol at this thread. We as a nation have learned to disregard logic and facts in favor of emotions. Smh. I'm done. Cheers, trashGuppie
The IRS designation happened in 2014. Let me guess, you were still in college. Now you have so much knowledge about how everything works and what people should invest/trade-in. Learn facts. Be less smug. Best of luck.
Unless you fuel how else would the Ponzi scheme work?
Well said