Crypto Currency

[Atomic Wedgy]

If bitcoin is the future, what would the benefits of people cashing out be? Or would they just gotten "rich" on their bitcoin but don't trust it further.

Im confused why someone making large rates of return would cash out. Where do you put it that gets similar returns?

Its difficult to understand the reasoning of others. Some just need the money. If you have more than a 4 year horizon, there is nowhere else to get similar returns. I can understand someone wanting to diversify their holdings so that isnt strange. BTC is very liquid, but the value month to month is not predictable. Its important to understand your own specific needs when deciding how/where to invest. If there is a chance you will need that money, maybe BTC isnt the place.

[Atomic Wedgy]

I think most people should be very careful about buying into the "store of value" narrative for crypto. Things that function as a store of value don't lose 75+% of their value from cycle to cycle. Now, the actual risk profile might differ if someone invested modest amounts years and years ago and wants to let it ride, or even for someone who laid out real cash to get in but has since cashed out their initial investment amount and are only holding unrealized gains (i.e., playing with house money). But that still doesn't make it a store of value.

The fact is that crypto remains extremely volatile and could lose most or all of its value at any moment. It's less likely to happen with Bitcoin (and to some extent Ethereum) than smaller, newer alt-coins, but it certainly has happened before and can again. So people would be wise to only invest amounts that (i) they have no expectation of needing anytime soon (even in a pinch), and (ii) in most cases, they can really afford to never see again.

No one tries to store value for a couple years... On a ten year horizon, Im sure it will not decrease. I agree with some of your sentiment, but its not going to zero. That time has passed. It is a volatile as it is a new asset class. If you were trying to make a quick buck, you should have been buying in 2022 and 2023. Any memecoin can go to zero at any moment. BTC cannot go to zero at any moment or to put it more accurately, its as likely to go to zero as gold is. BTC is less likely to go to zero than USD is. The debt in the US and BRICS are legitimate threats to USD.

I definitely agree that people should only invest what they could afford. This goes for any investing. You shouldnt be trying to get rich quick. Its been almost 5 years for me and Im only now starting to get my head above water. Its not easy watching your money go to 50% of its previous value. If you understand what you are investing in it makes it easier.

[dejeanneret]

No one tries to store value for a couple years... On a ten year horizon, Im sure it will not decrease. I agree with some of your sentiment, but its not going to zero. That time has passed. It is a volatile as it is a new asset class. If you were trying to make a quick buck, you should have been buying in 2022 and 2023. Any memecoin can go to zero at any moment. BTC cannot go to zero at any moment or to put it more accurately, its as likely to go to zero as gold is. BTC is less likely to go to zero than USD is. The debt in the US and BRICS are legitimate threats to USD.

I definitely agree that people should only invest what they could afford. This goes for any investing. You shouldnt be trying to get rich quick. Its been almost 5 years for me and Im only now starting to get my head above water. Its not easy watching your money go to 50% of its previous value. If you understand what you are investing in it makes it easier.

I agree with this, and I think that's largely the point i'm trying to make. Many people, especially those just exploring crypto investments now, may still view it as a get rich quick situation. It's not. It's highly volatile. Some of those that go down will come back up. Some won't. Some is mere gambling (memes). Some are legit and exciting projects. And like any project in relative infancy, some succeed, some evolve significantly over time (could be for better or worse), and some just flat out die. Staying informed and having tolerance for risk is a must. Like you said, you've got have stones to watch it lose significant value and keep holding tight. You've also got to have stones to buy the dips on projects you're confident in.

Anyhow, good luck to you. I've been invested in the space for a few years now too and it's certainly been fascinating and educational to follow.

[Atomic Wedgy]

Long stretches of boredom and pain. Fleeting moments of TO THE MOON! lol

[blayze]

Despite being skeptical for many years, I bought $10k a couple years ago when it was around $26k out of pure speculation - just to gamble really.

Still don't really believe in it as a "store of value" or even as a technology that will replace current methods of payment.

I've done really well on it given the recent euphoria thanks to our friend down South, but for a long time I was just breakeven or down. I plan to hold it forever and see what happens cause it's entertaining and I can afford to lose the money.

Hoping this unfolds as one of those "If you invested in Amazon 20 yrs ago" type stories.

[Dobber]

I invested $15k in 14 different cryptos over the last three years or so. My guess is it was below my 15 for about a week in total, otherwise it's been up, usually by just $4k or $5k, but once at the beginning of the year it popped to nearly double. Currently my wallet is valued at $38k so it's been a nice month.

And no, it won't go to zero ever. There is risk of losing money and going below my 15, but it's more limited with multiple currencies. Frankly, I think it continues rising, with minor dips along the way but by and large rising, through most of 2025.

[BloodSport]

Bitcoin breaks $100,000 for the first time. It will get to 110 before the end of 2024 and will easily pass 150 by the end of 2025.

[doulos]

Going to be hilarious when the Microstrategy pyramid scheme blows up.

[BloodSport]

Bitcoin officially hits $2 TRILLION in market cap for the first time in history.

This comes just 5 minutes after Bitcoin crossed the historic $100,000 level.

Bitcoin is now the 7th most valuable asset in the world.

Internal sources say Trump has plans for Bitcoin to fully become integrated into the U.S. financial system.

Strategic reserve is just the start.

[doulos]

Preach it. Bring on the buyers so I can make my exit

[Atomic Wedgy]

Bitcoin breaks $100,000 for the first time. It will get to 110 before the end of 2024 and will easily pass 150 by the end of 2025.

Settle down mate. Not sure where are getting these numbers from. I do not believe them to be realistic.

[Stifler]

Preach it. Bring on the buyers so I can make my exit

You're posts in this thread are puzzling. Early thread vs. Today is quite polar opposites.

Side note did anyone see the hawk tuah coin develoment today

[doulos]

Indeed. My views on this have changed. Ethereum is still the only crypto I believe has any future long term but I have no problems finally cashing out now once I hit my targets and keeping my interest academic only.

Most of the crypto community grosses me out and I don't have much interest these days.

[forumname]

Bitcoin breaks $100,000 for the first time. It will get to 110 before the end of 2024 and will easily pass 150 by the end of 2025.

You won't see any experienced, intelligent investors making claims like this. Pulling numbers out of thin air with certainty... good luck with that approach.

[Atomic Wedgy]

You're posts in this thread are puzzling. Early thread vs. Today is quite polar opposites.

Side note did anyone see the hawk tuah coin develoment today

If you are buying Hawk Tuah tokens I dont know what to tell you.