Author Topic: Should I buy a bunch of bitcoin?  (Read 1066 times)

mattchaos

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Should I buy a bunch of bitcoin?
« on: October 29, 2019, 12:04:03 PM »
i feel like the market is bouncing back.

Curious what people's opinion on here is :)

Villanelle

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Re: Should I buy a bunch of bitcoin?
« Reply #1 on: October 29, 2019, 12:08:58 PM »
No.





It's market-timing.  One of the key principles of this place is that we don't do that. 

RWD

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Re: Should I buy a bunch of bitcoin?
« Reply #2 on: October 29, 2019, 01:49:21 PM »
No.

dandarc

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Re: Should I buy a bunch of bitcoin?
« Reply #3 on: October 29, 2019, 01:50:29 PM »
No.

ysette9

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Re: Should I buy a bunch of bitcoin?
« Reply #4 on: October 29, 2019, 01:53:45 PM »
No.

My take is bitcoin is speculation, i.e. gambling, not investing.

jps

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Re: Should I buy a bunch of bitcoin?
« Reply #5 on: October 29, 2019, 02:13:30 PM »
No.

BECABECA

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Re: Should I buy a bunch of bitcoin?
« Reply #6 on: October 29, 2019, 02:14:23 PM »
And in case you donít take the No! consensus of the forum, hereís a No! from MMM himself:
https://www.mrmoneymustache.com/2018/01/02/why-bitcoin-is-stupid/

trollwithamustache

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Re: Should I buy a bunch of bitcoin?
« Reply #7 on: October 29, 2019, 03:18:06 PM »
The bitcoin market is definitely bouncing.

itsdamon

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Re: Should I buy a bunch of bitcoin?
« Reply #8 on: October 29, 2019, 03:31:56 PM »
I wouldn't discount it, the general consensus might be no but I've put some money into it and it's definitely different than outright stocks. I'm also a Gen Zer so what do I know lmfao

BECABECA

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Re: Should I buy a bunch of bitcoin?
« Reply #9 on: October 29, 2019, 03:50:46 PM »
I wouldn't discount it, the general consensus might be no but I've put some money into it and it's definitely different than outright stocks. I'm also a Gen Zer so what do I know lmfao

Is it just me or do we feel like we are getting trolled again? Today a new forum profile pops up and their first post asks a question that MMM has already answered, then when we all chime in to repeat MMMís answer, another new forum profile pops up with support for the anti-Mustachian position. 

I get the sense that @itsdamon and the OP are one and the same, and are on a bitcoin pump and dump mission.

Or am I reading too much into this?

RWD

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Re: Should I buy a bunch of bitcoin?
« Reply #10 on: October 29, 2019, 04:06:15 PM »
I wouldn't discount it, the general consensus might be no but I've put some money into it and it's definitely different than outright stocks. I'm also a Gen Zer so what do I know lmfao

Is it just me or do we feel like we are getting trolled again? Today a new forum profile pops up and their first post asks a question that MMM has already answered, then when we all chime in to repeat MMMís answer, another new forum profile pops up with support for the anti-Mustachian position. 

I get the sense that @itsdamon and the OP are one and the same, and are on a bitcoin pump and dump mission.

Or am I reading too much into this?

"Matt" and "Damon". Yeah, I think you're on to something.

itsdamon

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Re: Should I buy a bunch of bitcoin?
« Reply #11 on: October 29, 2019, 04:20:28 PM »
No, in all sincerity I've just gotten into the Moustachian lifestyle after a couple of years of unfrugal spending.

No troll here just new and don't know much about investing.

Chris Pascale

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Re: Should I buy a bunch of bitcoin?
« Reply #12 on: November 08, 2019, 08:51:10 AM »
Simple advice from Eric Milton - https://wealthyjoeinvesting.com/2017/12/09/dont-get-bit-by-bitcoin/

Hope this helps.

BicycleB

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Re: Should I buy a bunch of bitcoin?
« Reply #13 on: November 12, 2019, 07:59:59 AM »
OP - hell yes, put in every penny you have. Leave it there. If the value rises, you win. If the value drops, you gain a valuable lesson.

Or do the same thing with Iraqi dinars.

@itsadamon - taking your most recent post at face value, no. Follow the https://forum.mrmoneymustache.com/investor-alley/investment-order/ . Start by having an emergency fund in dollars and bank savings, then pay your debts (with the possible exception of early payments on a well-considered mortgage), then go through the rest of the investment order.