Author Topic: What do you think of adding a low% of crypto allocation  (Read 233710 times)

LateStarter

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Re: What do you think of adding a low% of crypto allocation
« Reply #2100 on: February 21, 2024, 08:39:34 AM »
Stranded: How Bitcoin is Saving Wasted Energy and Expanding Financial Freedom in Africa

by Alex Gladstein: Chief Strategy Officer of the Human Rights Foundation (and a Bitcoiner) - following his Dec2023 visit to Africa.

An interesting hour's reading for an open mind.

WayDownSouth

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Re: What do you think of adding a low% of crypto allocation
« Reply #2101 on: February 21, 2024, 11:43:46 AM »
So . . . you're saying you have a scheme to get rich?  And quick?

:P

That's not my post and it's not quick. The guy has been DCAing into bitcoin monthly over the past 6 years. He buys 500 euro each month and has built up a stash of 4.47 BTC. 40k worth of purchases that is now worth 178,800.

You don't think that more than quadrupling your money in 6 years is quick?

Sounds like you're the one saying he has a scheme to get rich.... and quick

Well he's worth 221k Euros today so he's done extremely well and took in an extra 40k in less than a month since you posted that!

suddenwealth

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Re: What do you think of adding a low% of crypto allocation
« Reply #2102 on: March 11, 2024, 04:34:36 AM »
So . . . you're saying you have a scheme to get rich?  And quick?

:P

That's not my post and it's not quick. The guy has been DCAing into bitcoin monthly over the past 6 years. He buys 500 euro each month and has built up a stash of 4.47 BTC. 40k worth of purchases that is now worth 178,800.

You don't think that more than quadrupling your money in 6 years is quick?

Sounds like you're the one saying he has a scheme to get rich.... and quick

Well he's worth 221k Euros today so he's done extremely well and took in an extra 40k in less than a month since you posted that!

Up another 100k to 321k euros in less than 3 weeks. Bitcoin on a tear. I think it's now safe to say the ETFs weren't priced in.... And the halving still isn't either...

Juan Ponce de León

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Re: What do you think of adding a low% of crypto allocation
« Reply #2103 on: March 11, 2024, 08:13:36 AM »
Have the genius bitcoin shorters taken profits yet?

MustacheAndaHalf

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Re: What do you think of adding a low% of crypto allocation
« Reply #2104 on: March 11, 2024, 10:59:30 AM »
Have the genius bitcoin shorters taken profits yet?
I think you need a refresher on the forum rules when you mock people as "genius":
https://forum.mrmoneymustache.com/forum-information-faqs/forum-rules/

WayDownSouth

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Re: What do you think of adding a low% of crypto allocation
« Reply #2105 on: March 11, 2024, 02:18:28 PM »
Have the genius bitcoin shorters taken profits yet?

I took a measly few grand around Christmas/New Year but then the conditions I was expecting didn't fit when they approved the ETFs so I dumped that plan.

I took a few hundred the other day very easily since it I knew it'd drop after that pump.

I'm trying to pay attention, if I get the chance and this things drops back into the 40's, 30's, or 20's I'll be on it I hope. That doesn't mean I'm wishing people to lose money. I'm just not a buyer in any crypto for that matter. There's enough BS scamming and gameplay in the regular markets for me to get involved with crypto at any serious level. Did it before, made a bit, lost a bit, probably broke even. That was years ago. My trading strategy doesn't wotk well with crypto.

WayDownSouth

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Re: What do you think of adding a low% of crypto allocation
« Reply #2106 on: March 11, 2024, 03:02:53 PM »
So . . . you're saying you have a scheme to get rich?  And quick?

:P

That's not my post and it's not quick. The guy has been DCAing into bitcoin monthly over the past 6 years. He buys 500 euro each month and has built up a stash of 4.47 BTC. 40k worth of purchases that is now worth 178,800.

You don't think that more than quadrupling your money in 6 years is quick?

Sounds like you're the one saying he has a scheme to get rich.... and quick

Well he's worth 221k Euros today so he's done extremely well and took in an extra 40k in less than a month since you posted that!

Up another 100k to 321k euros in less than 3 weeks. Bitcoin on a tear. I think it's now safe to say the ETFs weren't priced in.... And the halving still isn't either...

You said 321k, really that would be in USD... In euros he's at 295k today... So in about 20 days he gained ANOTHER 70k euros. That's $110k euros approx in less than 45 days.. Impressive.

clarkfan1979

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Re: What do you think of adding a low% of crypto allocation
« Reply #2107 on: March 11, 2024, 03:21:57 PM »
Have the genius bitcoin shorters taken profits yet?

The original post was from September 6, 2021 and Bitcoin was trading at $52,664. The logic presented in the original post was that Bitcoin has increased in value by 88X since 2016. Maybe it increases in value by 88X in another 6 years?

Bitcoin is up $72,144 on March 11, 2024. That's an increase of 37% over 2.5 years. Not bad, but very short of 88X. You can probably find 50 stocks in the S&P 500 that have bigger gains. And all that logic would be post-hoc and meaningless.

 

WayDownSouth

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Re: What do you think of adding a low% of crypto allocation
« Reply #2108 on: March 11, 2024, 03:58:07 PM »
Have the genius bitcoin shorters taken profits yet?

The original post was from September 6, 2021 and Bitcoin was trading at $52,664. The logic presented in the original post was that Bitcoin has increased in value by 88X since 2016. Maybe it increases in value by 88X in another 6 years?

Bitcoin is up $72,144 on March 11, 2024. That's an increase of 37% over 2.5 years. Not bad, but very short of 88X. You can probably find 50 stocks in the S&P 500 that have bigger gains. And all that logic would be post-hoc and meaningless.

IMO you have to play it both up and down to really win big.

It has also gained 180% in 6 months, 251% in 12 months, and 1,774% in 5 years.. Plenty of ups and downs especially in the last 3 years alone for a smart trader holding 1 BTC at $50k to turn it into 10 BTC (approx 720K today) if they executed good shorts and then bought dips with their profits. The thing is you need to really be glued to this and also know what you're doing.

BTC never makes a big new high and holds. It's a near guarantee that this new ATH - regardless of if it stops today or goes to hit 100k - will drop back to by at 25% to 30% or more within 2 to 3 months or less of wherever/whenever it peaks. And if it climbs up to or shoots up to $120 or $160k, no matter how long it takes, it will drop by a much larger percent.

It's still a gamble either way. There is no skill involved that a normal day trader or swing trader wouldn't already have. It's not so much the volatility it's the difficulty in marking anything useful as a genuine pattern or precursor of the biggest gains and drops. I've tried and tried and I know I have some good leads and deep research done but they never play out in the time frame I expect and it's impossible to nail down. The high general price makes sniping this shit on a quick climb not worth the risk and same goes for shorting unless you're watching it live and catch a glimpse of a jump and have an order ready.

Many other ways to make the $ quicker. With that said, being up $120k Euros in less than 45 days without doing anything and only holding about 4.5 coins is an admirable gain for a long-term holder. I'd be taking 50% of that recent $120k profit today and I definitely would NOT be the least bit disappointed in myself for doing so - even if it spiked to 95 tomorrow.

joe189man

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Re: What do you think of adding a low% of crypto allocation
« Reply #2109 on: March 11, 2024, 04:15:01 PM »
MicroStrategy Inc. has gone over 3x in the last month

MustacheAndaHalf

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Re: What do you think of adding a low% of crypto allocation
« Reply #2110 on: March 16, 2024, 01:57:27 AM »
MicroStrategy Inc. has gone over 3x in the last month
Close, but wrong.

Mar 15 price $1,782.36
Feb 15 price $718.00

Ohio Teacher

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Re: What do you think of adding a low% of crypto allocation
« Reply #2111 on: March 17, 2024, 06:26:23 AM »
I'm a little late to the thread, but I have a 1% allocation of our nest egg in BTC.  We are 64% VTSAX, 29% VTIAX, 6% cash (VFFXX), and 1% BTC. About a $500K portfolio. It has been my best performing asset class, and also the most volatile. So pretty much what was hoped for and expected.

dangbe

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Re: What do you think of adding a low% of crypto allocation
« Reply #2112 on: March 17, 2024, 08:25:00 PM »
It's still a gamble either way. There is no skill involved that a normal day trader or swing trader wouldn't already have. It's not so much the volatility it's the difficulty in marking anything useful as a genuine pattern or precursor of the biggest gains and drops.

Crypto has the simplest pattern ever as long as you zoom out far enough.  Every 4 years, sometime between October and January, BTC will hit its highest high. 
All Time Highs:
2013 December
2017 December
2021 November
2025 ???

This year has thrown a bit of a loop to this pattern though with an ATH off the four year cycle, but I'm betting that there will be a significant retracement before climbing all next year for the 2025 ATH at the end of the year.  I could be wrong and patterns don't repeat forever, but it certainly paid off very well in 2021. 

joe189man

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Re: What do you think of adding a low% of crypto allocation
« Reply #2113 on: Today at 10:27:58 AM »
MicroStrategy Inc. has gone over 3x in the last month
Close, but wrong.

Mar 15 price $1,782.36
Feb 15 price $718.00

Sorry - add about a week back to Feb 7 price of $505
So serious