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Bit coin? Where's this market headed? 

JC
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7/16/2018
JC
Posts: 48
Just using these threads as a way to remember how I thought about investing in various assets.


So, a friend of mine tried to convince me to buy Bitcoin last year or 2 years ago when it was about $1000. He said it would make me rich.


Sure enough, it went up to $$15000, and he said "told you so." But, honestly, even if I got into it, I would've only bought 1 or 2 coins. So, I would've been up close to $30K. Not a life changer.


And, then it went up to $20K. I called him and asked if he was going to sell. He said no. He was waiting for it to go to $30K by end of 2018. But, of course, it went back down to below $12K within a couple weeks. I nearly called him to say "told you so." LOL.


Now, it's at $6K. He's still bullish on it, says it will be $20K again later this year. We'll see. Either way, there's no way I'd buy more than 1 or 2 coins, if I were to buy. Actually, at $6K, I wouldn't buy any. So, it def won't make me rich.
edited by JC on 7/16/2018
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JC
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2/27/2018
JC
Posts: 48
Interesting. This was nearly a year ago.


The stock market continues to be strong. Housing market is also strong, at least where I live. But, the gains have slowed. In some areas of my city, they've started coming down. In most parts, prices have leveled.


I even got into buying individual stocks from the money we made after selling our rental properties last year. Bought about 100k worth of a handful of large cap stocks when the market tanked by 10% a couple weeks ago.


Still not into crypto.
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JC
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7/13/2017
JC
Posts: 48
MillionaireBefore50:
thanks for the article!
I don't plan to invest in it either. But, it was interesting to learn.






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MillionaireBefore50
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6/22/2017
JC wrote:
Any fellow savers and investors care to share your thoughts on where you think all this is headed?
Bit coin? I have no idea about it. Just looks a lot like buying Tulips to me.
Stock market? I'm not too well versed on it. I just keep indexing, so it really doesn't matter. I don't know enough to buy individual stocks. Only a few thousand dollars worth of stocks that I bought a few years ago, basically gambling money. I hate gambling.
Real estate market? I think the gains slowing down, but I don't think there will be another crash like 2008 any time soon.


Creepy-currencies. You can't do fundamental analysis on them-- that's for sure.
I wrote a post about it:

Thoughts about Bitcoin

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JC
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6/5/2017
JC
Posts: 48
Wow! I had no idea there were so many Cryptocurrencies ou there. In fact, I had no idea there was more than 1! Lol
Thanks for the info, guys
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FatStacks
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5/28/2017
FatStacks
Posts: 28
I dabble in cryptocurrency. I actually owned dedicated computers to mine Bitcoins at one point, but ended up losing money overall.

Like others that had bitcoins near their introduction, I ended up spending them on stupid stuff. I lost them at an online gambling site...a $12 loss at the time, a $4300 loss today.

I just started reacquiring them for long-term holding. I'm not sure which coins will survive, but right now I'd lean toward Bitcoin and Ethereum. Bitcoin is already widely accepted as a legitimate payment method (Microsoft even takes them!) and Ethereum has the capability to revolutionize record-keeping.

I have a little bit of Litecoin as well but mostly as a short-term speculative play.
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licid9
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5/27/2017
licid9
Posts: 45
Interesting post. I pretty much agree with everything.

However I got into the Cryptocraze more out of interest in learning about it than investing in it. Watching this run up, especially among some of the smaller currencies remind me of pump and dump on penny stocks. I believe that Cryptocurrencies (I believe there are over 700 of them) will play a role in the future, but I don't know if it will be Bitcoin or another currency that takes the lead in market share.
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JC
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5/25/2017
JC
Posts: 48
Any fellow savers and investors care to share your thoughts on where you think all this is headed?
Bit coin? I have no idea about it. Just looks a lot like buying Tulips to me.
Stock market? I'm not too well versed on it. I just keep indexing, so it really doesn't matter. I don't know enough to buy individual stocks. Only a few thousand dollars worth of stocks that I bought a few years ago, basically gambling money. I hate gambling.
Real estate market? I think the gains slowing down, but I don't think there will be another crash like 2008 any time soon.
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