DRich
DRich
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November 9th, 2023 at 4:44:04 PM permalink
I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
At my age, a "Life In Prison" sentence is not much of a deterrent.
darkoz
darkoz
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November 9th, 2023 at 4:50:41 PM permalink
Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



That's because naysayers always disappear when they appear to be wrong.

As soon as it dips to under $30,000 there will be one hundred posts saying they told you so.
For Whom the bus tolls; The bus tolls for thee
AxelWolf
AxelWolf
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November 9th, 2023 at 5:00:13 PM permalink
Quote: darkoz

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



That's because naysayers always disappear when they appear to be wrong.

As soon as it dips to under $30,000 there will be one hundred posts saying they told you so.
link to original post

Just post in the BTC thread. I think it's will BTC reach 50,000
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
DRich
DRich
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November 9th, 2023 at 5:51:12 PM permalink
Quote: AxelWolf

Quote: darkoz

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



That's because naysayers always disappear when they appear to be wrong.

As soon as it dips to under $30,000 there will be one hundred posts saying they told you so.
link to original post

Just post in the BTC thread. I think it's will BTC reach 50,000
link to original post



Sorry, I looked for that thread but couldn't find it.
At my age, a "Life In Prison" sentence is not much of a deterrent.
DRich
DRich
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November 9th, 2023 at 5:51:13 PM permalink
Quote: AxelWolf

Quote: darkoz

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



That's because naysayers always disappear when they appear to be wrong.

As soon as it dips to under $30,000 there will be one hundred posts saying they told you so.
link to original post

Just post in the BTC thread. I think it's will BTC reach 50,000
link to original post



Sorry, I looked for that thread but couldn't find it.
At my age, a "Life In Prison" sentence is not much of a deterrent.
billryan
billryan
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November 9th, 2023 at 6:58:05 PM permalink
Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



It's still well off its high water mark.
The difference between fiction and reality is that fiction is supposed to make sense.
DRich
DRich
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November 9th, 2023 at 7:01:30 PM permalink
Quote: billryan

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



It's still well off its high water mark.
link to original post



Yes it is but it has more than doubled in 11 months.
At my age, a "Life In Prison" sentence is not much of a deterrent.
darkoz
darkoz
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November 9th, 2023 at 7:41:40 PM permalink
Quote: billryan

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



It's still well off its high water mark.
link to original post



Wasn't there some wager you had proposed around $18,000 that it wouldn't double before dropping below some amount?
For Whom the bus tolls; The bus tolls for thee
billryan
billryan
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November 9th, 2023 at 8:31:51 PM permalink
Quote: DRich

Quote: billryan

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



It's still well off its high water mark.
link to original post



Yes it is but it has more than doubled in 11 months.
link to original post



Which is great for the people who bought it eleven months ago. Not so great for the people who bought it in 2020-2022.
The difference between fiction and reality is that fiction is supposed to make sense.
billryan
billryan
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November 9th, 2023 at 8:32:50 PM permalink
Quote: darkoz

Quote: billryan

Quote: DRich

I am surprised that no one has mentioned that at the beginning of the year Bitcoin was at $16,500 and today it is as $36,500. I don't own any but it sure has been a wild ride.
link to original post



It's still well off its high water mark.
link to original post



Wasn't there some wager you had proposed around $18,000 that it wouldn't double before dropping below some amount?
link to original post



There was, and no one took me up on it.
The difference between fiction and reality is that fiction is supposed to make sense.
Ace2
Ace2
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November 9th, 2023 at 9:47:35 PM permalink
Most investments can be classified as profitable if you look at a historical graph and say :

If I bought then and if I sold then, I would have made money

For instance, if I bought Enron stock in Jan-99 and sold in Jan-01 Id have made a 200% profit.

But if I waited a bit longer and sold in Dec-01 then it would be a 100% loss

A solid investment should make money no matter when you bought if you hold it long enough. Cant say that about BTC
Last edited by: Ace2 on Nov 9, 2023
Its all about making that GTA
darkoz
darkoz
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November 9th, 2023 at 10:34:02 PM permalink
Quote: Ace2

Most investments can be classified as profitable if you look at a historical graph and say :

If I bought then and if I sold then, I would have made money

For instance, if I bought Enron stock in Jan-99 and sold in Jan-01 Id have made a 200% profit.

But if I waited a bit longer and sold in Dec-01 then it would be a 100% loss

A solid investment should make money no matter when you bought if you hold it long enough. Cant say that about BTC
link to original post



Like Blockbuster, Sears, Circuit City, etc.
For Whom the bus tolls; The bus tolls for thee
billryan
billryan
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November 10th, 2023 at 3:52:46 AM permalink
Quote: darkoz

Quote: Ace2

Most investments can be classified as profitable if you look at a historical graph and say :

If I bought then and if I sold then, I would have made money

For instance, if I bought Enron stock in Jan-99 and sold in Jan-01 Id have made a 200% profit.

But if I waited a bit longer and sold in Dec-01 then it would be a 100% loss

A solid investment should make money no matter when you bought if you hold it long enough. Cant say that about BTC
link to original post



Like Blockbuster, Sears, Circuit City, etc.
link to original post



Speaking only for myself, Sears was a great investment. I first bought it in 1965,with my first Communion money, and reinvested the dividends each quarter so by the time I'd finished college, it had grown substantially. I sold it, along with much of my portfolio in the mid 1990s.
People who don't follow stocks often don't realize the residual effects of ownership. Investors in Circuit City received stock in a spin-off known as Car Max. Car Max thrived long after Circuit City crashed. Sears investors received pieces of All-State, Dean Witter and the company behind Discover Card. Sears may have crashed, but All State is still pumping out dividends thirty years later, as is Discover Inc.
Blockbuster wasa perfect example of the investment cycle. Blockbuster grew into a monster when VCR ownership went from near zero in 1981 to over 70% of households owning one or more, by 1992. With so many families already owning VCRs, future growth became almost impossible, and the market plan needed rapid growth to sustain it. Once it reached the saturation point, where new stores were cannibalizing other stores' sales, they would inevitably fail. They also relied on America continuing to buy and use VCRs. It was obvious they would go the way of the telegraph company.
Last edited by: billryan on Nov 10, 2023
The difference between fiction and reality is that fiction is supposed to make sense.
DRich
DRich
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November 10th, 2023 at 6:53:00 AM permalink
Quote: billryan



Which is great for the people who bought it eleven months ago. Not so great for the people who bought it in 2020-2022.
link to original post



You are correct but by that logic people shouldn't buy almost any stock because 99.9% of them are below their all time high.
At my age, a "Life In Prison" sentence is not much of a deterrent.
billryan
billryan
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Thanks for this post from:
rawtuff
November 10th, 2023 at 7:11:55 AM permalink
Quote: DRich

Quote: billryan



Which is great for the people who bought it eleven months ago. Not so great for the people who bought it in 2020-2022.
link to original post



You are correct but by that logic people shouldn't buy almost any stock because 99.9% of them are below their all time high.
link to original post



Not at all, but one of the considerations to an investment is how other stockholders have done. People don't invest in utilities for the price; they invest for the income it produces. My current positions are mostly income-based. I don't care if the stock goes up or down, all that matters is the roughly one percent a month payout. I no longer care about appreciation; it's now how much income I can generate. Bitcoin, and any crypto I'm aware of, produces no income.
Most Bitcoin holders are underwater, as early adoptees cashed out long ago and most current holders bought during the run-up to $60,000. The people who bought last year, when it was under 20K have done well.
Charts can give you a wealth of information if you know how to interpret them.
The difference between fiction and reality is that fiction is supposed to make sense.
AxelWolf
AxelWolf
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November 10th, 2023 at 8:45:26 AM permalink
Quote: billryan

Quote: DRich

Quote: billryan



Which is great for the people who bought it eleven months ago. Not so great for the people who bought it in 2020-2022.
link to original post



You are correct but by that logic people shouldn't buy almost any stock because 99.9% of them are below their all time high.
link to original post




Most Bitcoin holders are underwater, as early adoptees cashed out long ago and most current holders bought during the run-up to $60,000. The people who bought last year, when it was under 20K have done well.
Charts can give you a wealth of information if you know how to interpret them.
link to original post

Do you have a Source that, that reflects the current date and prices?
Last edited by: AxelWolf on Nov 10, 2023
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
OnceDear
OnceDear
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November 10th, 2023 at 9:40:19 AM permalink
Quote: AxelWolf

Do you have Source that that reflects the current date and prices?
link to original post


I use https://www.tradingview.com/symbols/BTCUSD/
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
billryan
billryan
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November 10th, 2023 at 9:48:12 AM permalink
I have access to some proprietary information I won't share on a public site, but here are some general numbers.
In 2017, less than 10% of US citizens owned Bitcoin. Now it is over 20%. That indicates half the owners bought since 2017.

There are over 450 million Bitcoin addresses that have had a Bitcoin balance.
Of these, almost 300 million now have a zero balance. Two-thirds of individual addresses are no longer in use.
Of 172 million addresses that regularly engage in transactions, roughly 80% are merchants, services, and exchanges.
The difference between fiction and reality is that fiction is supposed to make sense.
OnceDear
OnceDear
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November 10th, 2023 at 9:51:25 AM permalink
Quote: billryan

I have access to some proprietary information I won't share on a public site, but here are some general numbers.
In 2017, less than 10% of US citizens owned Bitcoin. Now it is over 20%. That indicates half the owners bought since 2017.

There are over 450 million Bitcoin addresses that have had a Bitcoin balance.
Of these, almost 300 million now have a zero balance. Two-thirds of individual addresses are no longer in use.
Of 172 million addresses that regularly engage in transactions, roughly 80% are merchants, services, and exchanges.
link to original post

I'd be surprised if 2% held any crypto of any type
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
billryan
billryan
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November 10th, 2023 at 10:11:44 AM permalink
Worldwide, about 1.5% of the population owns some crypto, as best I can tell.
The difference between fiction and reality is that fiction is supposed to make sense.
AxelWolf
AxelWolf
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November 10th, 2023 at 10:56:41 AM permalink
Sorry, I was interrupted mid-post and probably didn't articulate what I was interested in knowing.

I'm interested in a CURRENT source for this statement "Most Bitcoin holders are underwater" I know this seemed to be true a year ago, but I'm wondering if that still holds true. I wouldn't be surprised either way.
I just know that if all my current Crypto went to Zero I would still be in the black since I have sold off more than I have invested.

I know I have no clue where crypto is going long-term, Im just speculating/gambling.

BTC is a valuable tool for me, but with that being said, I really don't know what most others are using it for since there certainly hasn't been mass adoption.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
rxwine
rxwine
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November 10th, 2023 at 3:45:31 PM permalink
I assume many bought hoping for one last super surge like in the early days.
There's no secret. Just know what you're talking about before you open your mouth.
EvenBob
EvenBob
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November 10th, 2023 at 4:50:35 PM permalink
Quote: billryan

. People don't invest in utilities for the price; they invest for the income it produces.
link to original post



Back in the 90s when I was in the antique business I knew a woman who owned an antique shop who was a millionaire because her grandfather and then her father invested in nothing but utility companies starting in the 1920s. That's all they bought was stock in utilities big and small, and this woman was a millionaire just off the dividends they paid. She had so much stock in so many utilities she didn't even know what they were because she had a company that handled it for her. It was a gigantic portfolio. The big money was buying into the small utilities early and they were sold to the larger utilities that were sold to even larger ones and the stock just kept going up and up and up over the decades. She told me during the Depression her grandfather would drive all over the Midwest buying stock in small utility companies for almost nothing and he never sold anything because utility companies very seldom went out of business or went bankrupt, they were always eaten up by a larger ones. When I say almost nothing I'm talking 25 cents and 75 cents and $1.25 a share.
"It's not called gambling if the math is on your side."

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