Author Topic: The Cryptocurrencies Thread  (Read 4067 times)

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Offline lordxizor

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Re: The Cryptocurrencies Thread
« Reply #105 on: May 04, 2021, 06:16:46 AM »
I was thinking over the weekend about crypto wondering if in 5 years I'll regret having put any money in it at all or regret not having put more money in. I think it is much more likely I'll regret not putting more in though there will surely be some crazy ups and downs along the way. Now it's just trying to figure out where to find the money. I could stop contributing to my and my wife's roth IRAs, but I'm not sure I'm ready to go that all-in on crypto. That tax free growth is hard to pass up. I dropped my 401k to just enough to get the full employer match, which frees up $340 a month to put into crypto. I know I should treat this like any other investment and just dollar cost average in every month and watch it grow. I guess I'm just anxious to get enough money in so that if something doubles in value, we'll be talking about some real money instead of just a few thousand bucks. I'm trying to get more aggressive overall with my investments and crypto definitely has the best chance to offer some huge gains. I guess I've been thinking a lot about financial independence and wanting to get the much sooner than I originally planned.

That is about where I am at. Of course we don't want to be thinking along the lines of "Why didn't I invest in Amazon and Netflix in the late 90s?!" I max out our IRA, I couldn't bring myself to stop that. We contribute a healthy amount to my wife's defined contribution plan at work, and she has a defined benefits plan too (where, if my math is correct, is where a large chunk of our golden year money will come from). Fortunately, I do not see my wife wanting to retire early. I don't have a ton of money laying around for massive investments elsewhere, but I am putting more in to crypto that I would have imagined before the start of this year.
The problem I'm having is thinking things like "If I were to pull all my contributions from my Roth IRA tax free and dump it in crypto, do I think I'll be better off in 5 years?" and the answer is that I'm 80% sure I'd make significantly more in crypto (with some crazy ups and downs along the way). So my logical brain says, "then do it!", but when I take a step back it seems like an absolutely crazy thing to do. I'm not going to do it. I'm just going to dump in any extra cash I have. But I can see kicking myself in 5 years for not doing it when I would have made way more money.

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Re: The Cryptocurrencies Thread
« Reply #106 on: May 04, 2021, 06:50:48 AM »
 :lol


Where did you sell yours at?

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Re: The Cryptocurrencies Thread
« Reply #107 on: May 04, 2021, 06:50:53 AM »
So I dun fucked up guys. When I read this post I thought what the fuck I'll throw some money at doge, I tried to buy $300 on binance. Well the order didn't go through, I stupidly backed up and hit confirm a few times, didn't work so I said fuck it, it's probably stupid anyway. Well I check my bank account today and I'm out $1800, apparently all those orders went through. I set my limit up to break even and gonna let it ride for a bit.

I didn't realize he was hosting Saturday. I might have to buy some doge

Yup, and I'd gather he'll take advantage of the moment to promote it. I'd imagine it's going to be funny af too, especially if he has any talent to act or whether the cast can carry him well.

Online Chino

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Re: The Cryptocurrencies Thread
« Reply #108 on: May 04, 2021, 06:58:39 AM »
:lol


Where did you sell yours at?

It's hard to give a specific amount. I wish I just sat on my very first buy. I initially had something like 16,000 coins at .08. I sold all of those around .13. It dipped. I bought a lot more. I sold a little, then bought a little, bought a little more, etc.

Recently I sold off a lot of it. Basically taking out all my profits and investments, leaving me with 3500 coins that I paid nothing for. I threw another $280 on the pile last week when it dipped back into the high .20s. Long story short, I'm sitting on 4400 Doge that cost me a grand total of $200 ($0.045 or something like that), but I wish I was still sitting on my initial 16,000 Doge
« Last Edit: May 04, 2021, 07:11:00 AM by Chino »

Online Chino

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Re: The Cryptocurrencies Thread
« Reply #109 on: May 04, 2021, 07:00:14 AM »
So I dun fucked up guys. When I read this post I thought what the fuck I'll throw some money at doge, I tried to buy $300 on binance. Well the order didn't go through, I stupidly backed up and hit confirm a few times, didn't work so I said fuck it, it's probably stupid anyway. Well I check my bank account today and I'm out $1800, apparently all those orders went through. I set my limit up to break even and gonna let it ride for a bit.



That's what happened with my on my Voyage account. I didn't think I had anything in there, and it turns out an order for 2000 Doge went through and I never noticed.

Offline Cool Chris

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Re: The Cryptocurrencies Thread
« Reply #110 on: May 04, 2021, 08:35:17 AM »
The problem I'm having is thinking things like "If I were to pull all my contributions from my Roth IRA tax free and dump it in crypto, do I think I'll be better off in 5 years?" and the answer is that I'm 80% sure I'd make significantly more in crypto (with some crazy ups and downs along the way). So my logical brain says, "then do it!", but when I take a step back it seems like an absolutely crazy thing to do. I'm not going to do it. I'm just going to dump in any extra cash I have. But I can see kicking myself in 5 years for not doing it when I would have made way more money.

Exactly. Except... do you mean literally pull funds out of your Roth, or were you referring to any future deposits?

My wife trusts me implicitly on our finances. She really has no interest at all in what I do. But if I did something too drastic I might feel obligated to discuss with her. But then I'd have to explain how all this cryptocurrency stuff worked, and I doubt I could do a good job at it. And if I showed her our numbers now, she'd tell me to take enough out for us to get the new car she wants. I've already told her that is part of my plan in 2023 when the last kid is out of preschool.

So I dun fucked up guys. When I read this post I thought what the fuck I'll throw some money at doge, I tried to buy $300 on binance. Well the order didn't go through, I stupidly backed up and hit confirm a few times, didn't work so I said fuck it, it's probably stupid anyway. Well I check my bank account today and I'm out $1800, apparently all those orders went through.

Man, I would have hated to experience that, even if I could withstand that $1800 outlay.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline lordxizor

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Re: The Cryptocurrencies Thread
« Reply #111 on: May 04, 2021, 09:21:06 AM »
The problem I'm having is thinking things like "If I were to pull all my contributions from my Roth IRA tax free and dump it in crypto, do I think I'll be better off in 5 years?" and the answer is that I'm 80% sure I'd make significantly more in crypto (with some crazy ups and downs along the way). So my logical brain says, "then do it!", but when I take a step back it seems like an absolutely crazy thing to do. I'm not going to do it. I'm just going to dump in any extra cash I have. But I can see kicking myself in 5 years for not doing it when I would have made way more money.

Exactly. Except... do you mean literally pull funds out of your Roth, or were you referring to any future deposits?
No, I meant literally pulling my past contributions out. Though stopping future contributions is another option, which is tempting, but I don't think I'll do it.

Offline MinistroRaven

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Re: The Cryptocurrencies Thread
« Reply #112 on: May 04, 2021, 12:22:42 PM »
I wish I had jumped in the wagon.

Pure insanity. 🤯 Doge market cap larger than Ford, Twitter.

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Re: The Cryptocurrencies Thread
« Reply #113 on: May 05, 2021, 05:34:05 AM »

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Re: The Cryptocurrencies Thread
« Reply #114 on: May 05, 2021, 06:24:25 AM »
Yup I feel the same. I keep moving my stop in so I can lock in some profits in case things go south.

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Re: The Cryptocurrencies Thread
« Reply #115 on: May 05, 2021, 10:43:11 AM »

Offline Cool Chris

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Re: The Cryptocurrencies Thread
« Reply #116 on: May 05, 2021, 07:01:19 PM »
Did some quick spreadsheet updating, and I am at about 4% but that is largely due to the spike of the past 48 hours.

So, that number has gone up a few percentage points.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

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Re: The Cryptocurrencies Thread
« Reply #117 on: May 06, 2021, 01:34:58 PM »
You want to drive yourself crazy think about this:  If you purchased just $1000 worth of Bitcoin in 2011 and kept it until yesterday you'd have over $16 million.


Do your own calculations: https://dqydj.com/bitcoin-return-calculator/








Offline kirksnosehair

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Re: The Cryptocurrencies Thread
« Reply #118 on: May 06, 2021, 01:37:58 PM »
And I will STILL stay with my house and my 401k.  Between those two items I can live in retirement in the same style I do today for 20 years and never work again.


I'm not even counting social security in that.  Social security will be my pocket money. 

Offline lordxizor

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Re: The Cryptocurrencies Thread
« Reply #119 on: May 07, 2021, 06:06:48 AM »
I hate reading those kinds of things. I've been thinking of getting into crypto for a very long time, but didn't understand it so I stayed away. I still don't understand it, but I don't care anymore. I want to have a small percentage of my investments in it.

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Re: The Cryptocurrencies Thread
« Reply #120 on: May 07, 2021, 12:56:41 PM »
I hate reading those kinds of things. I've been thinking of getting into crypto for a very long time, but didn't understand it so I stayed away. I still don't understand it, but I don't care anymore. I want to have a small percentage of my investments in it.


Woulda, coulda, shoulda.  If I bought $10,000 worth of Apple stock at their IPO in 1980 I'd have just under $7 million today.


Big difference between Apple and something like crypto is Apple had a product that had massive appeal.  Crypto on the other hand is kind of like...vapor.  There's really no guarantee with any investment but at least with a company that owns and produces stuff there is some collateral value to your investment.  That's not what crypto is, at least not how I understand it. 


But hey, if you've got money you're 100% prepared to lose, and the risk doesn't increase your blood pressure, go for it.


I'm too old for that shit now.  Not enough time to recover if it goes south on me. 

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Re: The Cryptocurrencies Thread
« Reply #121 on: May 07, 2021, 01:15:34 PM »
I think I read somewhere a bit ago, that it's totally a fine idea to put about 5% of your investments into crypto.  It's not nearly the crapshoot it seemed 10 years ago.  But I totally get the questionability about what exactly you are investing in.  Just seems like enough people and therefore society in general has accepted cryptos and therefore given it legitimacy making it not nearly as much of a gamble. 

Offline lordxizor

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Re: The Cryptocurrencies Thread
« Reply #122 on: May 07, 2021, 08:38:39 PM »
I think I read somewhere a bit ago, that it's totally a fine idea to put about 5% of your investments into crypto.  It's not nearly the crapshoot it seemed 10 years ago.  But I totally get the questionability about what exactly you are investing in.  Just seems like enough people and therefore society in general has accepted cryptos and therefore given it legitimacy making it not nearly as much of a gamble. 
That's kinda how I feel about it. 5% is what I'm shooting for, both as an investment and as a hedge against inflation.
« Last Edit: May 08, 2021, 06:07:45 AM by lordxizor »

Offline Cool Chris

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Re: The Cryptocurrencies Thread
« Reply #123 on: May 07, 2021, 09:08:01 PM »
Barry and Cram are both right. As with all investments, one needs to assess their age, goals, risk tolerance, capital, and other factors.

Social security will be my pocket money. 

By the time today's youth get to retirement, pocket money may be all social security ever amounts to!
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

Offline MinistroRaven

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Re: The Cryptocurrencies Thread
« Reply #124 on: May 08, 2021, 07:25:57 AM »
DOGE, SHIB and HOKK are killing it.

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Re: The Cryptocurrencies Thread
« Reply #125 on: May 08, 2021, 08:15:54 AM »
Yea super happy about my doge purchase accident gonna see how it plays out over the weekend.

Offline Phoenix87x

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Re: The Cryptocurrencies Thread
« Reply #126 on: May 08, 2021, 08:42:29 AM »
Finally signed up for Swan bitcoin and will be automatically be buying a little bit each week.

Better late than never, lol

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Re: The Cryptocurrencies Thread
« Reply #127 on: May 08, 2021, 07:28:43 PM »
Finally signed up for Swan bitcoin and will be automatically be buying a little bit each week.

Better late than never, lol

That's right!

DO you have a link to Swan BTC?

Offline Phoenix87x

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Re: The Cryptocurrencies Thread
« Reply #128 on: May 08, 2021, 08:15:47 PM »
A link?

Like this link

https://www.swanbitcoin.com/

I barley understand crypto or the lingo, so sorry

Offline Cool Chris

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Re: The Cryptocurrencies Thread
« Reply #129 on: May 09, 2021, 09:05:38 AM »
Do you still have your ETH?

DOGE is having another great run these last couple days. I am ashamed to admit I have thousands of dollars in something I am not sure I know how to pronounce. I have never heard anyone ever say it, I have only read about it.

Very curious to see how it's going to spike come Saturday when Elon hosts SNL.

Ummm.....
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Offline MinistroRaven

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Re: The Cryptocurrencies Thread
« Reply #130 on: May 09, 2021, 09:14:39 AM »
A big whale dumped Doge before SNL I don't understand the timing  :facepalm:

It's still holding pretty well, I think .48 - .50 is the new floor, it will go up again eventually

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Re: The Cryptocurrencies Thread
« Reply #131 on: May 09, 2021, 09:25:18 AM »
It was in the 70s before the show and now plummeted. Not sure it matters, it seems likely to eventually go back up and maybe hit $1

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Re: The Cryptocurrencies Thread
« Reply #132 on: May 11, 2021, 03:11:34 PM »
guys, I just started on the shitcoins world, and I must say I am an addict now


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Re: The Cryptocurrencies Thread
« Reply #133 on: May 12, 2021, 07:29:46 AM »
I'm so tempted to drop another K into doge. It's bad. Am also addicted. It's like a casino at this point.

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Re: The Cryptocurrencies Thread
« Reply #134 on: May 12, 2021, 07:53:38 AM »
I'm starting to slowly drop my extra pay check cash into ETH to hold.

Offline MinistroRaven

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Re: The Cryptocurrencies Thread
« Reply #135 on: May 12, 2021, 08:40:09 AM »
I am seriously considering walking away from my job and dedicating myself to the shitcoin world.

In 2 days I have made more than what I have done in the entire year.

Shitcoin: REAL LOW VALUE AND UNKNOWN TOKENS 

Offline Cool Chris

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Re: The Cryptocurrencies Thread
« Reply #136 on: May 12, 2021, 09:02:06 AM »
YTD I am up in currency more than what I've made working a couple times over. I am not ready to make any significant life changes yet though.
"Nostalgia is just the ability to forget the things that sucked" - Nelson DeMille, 'Up Country'

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Re: The Cryptocurrencies Thread
« Reply #137 on: May 12, 2021, 09:08:56 AM »
I am seriously considering walking away from my job and dedicating myself to the shitcoin world.

Anyone I've ever known who thought they could make it on their own day trading has come crawling back begging to be hired again.  Not worth the risk IMO.  You can day trade on the side of your main gig.

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Re: The Cryptocurrencies Thread
« Reply #138 on: May 12, 2021, 09:15:28 AM »
I'm starting to slowly drop my extra pay check cash into ETH to hold.

Yeah, this is my path. Just $25 each check, and let it simmer

Offline MinistroRaven

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Re: The Cryptocurrencies Thread
« Reply #139 on: May 12, 2021, 11:26:07 AM »
I am seriously considering walking away from my job and dedicating myself to the shitcoin world.

Anyone I've ever known who thought they could make it on their own day trading has come crawling back begging to be hired again.  Not worth the risk IMO.  You can day trade on the side of your main gig.

After I posted that I commented it with my wife and she said the exact same thing you said. Good advice. Thanks!