Have you seen the boom and bust cycles of the past? All it takes is some government intervention on top of everything. Be careful. I hope you bought so low under no circumstance will you need the money for everything. Don't waste your time trying to teach or convince anyone. Just listen and stay flexible.Quote: darkozSchemes?
Sad!
Quote: onenickelmiracleHave you seen the boom and bust cycles of the past? All it takes is some government intervention on top of everything. Be careful. I hope you bought so low under no circumstance will you need the money for everything. Don't waste your time trying to teach or convince anyone. Just listen and stay flexible.
I'm listening and no disrespect but everything I am reading on here seems full of misinformation and quite a bit of fear.
But you don't have to read what I post.
Such a blanket statement, it certainly can't be true for everyone. Let us say you have a smart young person with a really good job and the skill set to easily obtain another well-paying job easily if needed. If his investments go tits up he has plenty of time and the ability to get right back on track.Quote: billryanAnyone who puts much more than 10% of their money into such schemes is a fool. It can't be said much more clearer than that.
BTW- that's true for almost any investment.
Someome might be in a situation where they have multiple times the amount they need to be comfortable for the rest of their life and they can afford to invest more than 10% without it ever being an issue.
Quote: AxelWolfSuch a blanket statement, it certainly can't be true for everyone. Let us say you have a smart young person with a really good job and the skill set to easily obtain another well-paying job easily if needed. If his investments go tits up he has plenty of time and the ability to get right back on track.
Someome might be in a situation where they have multiple times the amount they need to be comfortable for the rest of their life and they can afford to invest more than 10% without it ever being an issue.
From the time we are kids, we are told not to put all your eggs in one basket. As an investor, the whole idea is to diversify. Diverse portfolios work best. Just as Kelly tells you how to bet, there are formulas that tell you how to invest.
Do you think it's okay for a ploppie to bet stupidly simply because he is young and can afford to lose?
Bitcoin might have some use as a hedge, if one uses hedges, but investing a large portion of your money in any one sector or product is foolish. Assuming, of course, that thousands of years of experience have taught people the right way to prosperity.
Hey, I'm all for diversification, I just don't know where this 10% comes from and why investing more in something would make one foolish, one might want to invest 25% in crypto, 25% in property, stocks, or whatever they feel is right for them.Quote: billryanFrom the time we are kids, we are told not to put all your eggs in one basket. As an investor, the whole idea is to diversify. Diverse portfolios work best. Just as Kelly tells you how to bet, there are formulas that tell you how to invest.
Do you think it's okay for a ploppie to bet stupidly simply because he is young and can afford to lose?
Bitcoin might have some use as a hedge, if one uses hedges, but investing a large portion of your money in any one sector or product is foolish. Assuming, of course, that thousands of years of experience have taught people the right way to prosperity.
We know for a fact playing a -ev game is a dumb bet, we don't know if BTC, ETH, or whatever is a dumb bet, it's all just speculation. I'm sure some people were saying Amazon and other was a bad bet back in the day.
Just because we were told something as kids, doesn't make it true, I was told all kinds of BS when I was a kid that isn't true and it's been debunked by science, meanwhile, some crazy old people(even young people) still believe it's true no matter what science says.
I have been hearing for years how BTC is a bad investment...meanwhile...
Quote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
Quote: PokerGrinder...I have 95% of my net worth in crypto...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.