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onenickelmiracle
onenickelmiracle
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May 10th, 2021 at 10:37:36 AM permalink
Quote: darkoz

Schemes?

Sad!

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.
I am a robot.
darkoz
darkoz
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onenickelmiracle
May 10th, 2021 at 10:47:11 AM permalink
Quote: onenickelmiracle

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.



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.
For Whom the bus tolls; The bus tolls for thee
AxelWolf
AxelWolf
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mcallister3200rainmangamerfreakHunterhill
May 10th, 2021 at 2:29:15 PM permalink
Quote: billryan

Anyone 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.

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.

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.
♪♪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♪♪
gamerfreak
gamerfreak
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May 10th, 2021 at 4:44:17 PM permalink
Delete
Last edited by: gamerfreak on May 10, 2021
onenickelmiracle
onenickelmiracle
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May 10th, 2021 at 5:14:45 PM permalink
I'm over crypto unless it crashes hard and only BTC. I've lost so much money, but not really so much, but how easy it is. All my instincts stink. Any time I do anything w investing try to pick moments, I usually get screwed. I was messing with Doge and got screwed when RH crashed. They said they're looking into it and I'm moving to another platform when I can. On top of that, I think it's possible the RH interface is crooked. You might think you're seeing something, but if you refresh, it's not what you think. How many times have I been punked?
I am a robot.
onenickelmiracle
onenickelmiracle
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May 10th, 2021 at 5:23:26 PM permalink
Yeah so I lost $300 leading up to SNL and about the same thinking it might go to $1. So often seems at the same time you sell, whatever you sold immediately goes up, Buy back, goes down. Sell for a few penny profits, goes up a long time. It's so cruel and not worth it. So funny how I'm so bad at the guessing game. To me it's like POS EV, but with investing it's BS like people at the casino making up things. Then the excuse is you didn't buy and hold. That's not a good answer. Guess variance is a B. I need to buy that monkey.
I am a robot.
billryan
billryan
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May 10th, 2021 at 5:59:43 PM permalink
Quote: AxelWolf

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.

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.
AxelWolf
AxelWolf
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May 10th, 2021 at 8:16:53 PM permalink
Quote: billryan

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.

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...
♪♪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♪♪
PokerGrinder
PokerGrinder
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May 10th, 2021 at 8:47:32 PM permalink
I agree with Axel, it really depends on your situation. Iím 29 almost 30 with a large income. I have 95% of my net worth in crypto and I know Bill is going to say thatís insane but hear me out. If Iím correct and crypto goes where I think it is going I will never have to worry about money again. On the other hand if my portfolio is worth $0.00 tomorrow Iím young with a large income and I rebuild quite easily. The way I see it, I have infinite life changing upside and a very small inconsequential downside.
You can shear a sheep a hundred times, but you can skin it only once. ó Amarillo Slim Preston
Calder
Calder
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May 10th, 2021 at 9:35:03 PM permalink
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.

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