Main mistake many crypto coins investors made

[WizardofSoda]

It was going all in on one type of investment. Note for stocks I consider each type of business a different type of investment.

Say some boomer had $1 million in his retirement savings investments. And he put $50,000 so 5% of his portfolio in cryptocoins. And he did a lot of research on coins, possibly even buying several coins, and/or sticking with the main ones. That might work out pretty well, say he puts the full amount of $50,000 in Bitcoin and Bitcoin goes up 4x from here. He would be up big money. On the other hand say Bitcoin falls 50% from here, its not that bad it would only be down 2.5% of his portfolio.


Another thing is it is a lot easier to psychologically hold when its not that big a part of his portfolio. Like say Bitcoin goes down by half from when he bought it. So he is down 2.5% of his portfolio in value. He can just hold and not really worry about it.

The temptation would then be to break his rules of 5% in one type of investment. And double down.. no you just have to hold what you already have when you are already at your maximum. But say his other investments go up over the next 2 years. Then he would have more room with the 5% of his portfolio to invest in Bitcoin if he wanted.

 

[NirvanaFan1988]

fucking cryptotards, you are ngmi, you will never be rich

 

[RandomGuy]

Ethereum could ‘take over everything’​

 

[racoon4]

main mistake: put money into crypto

 

[MACHETE]

i dont understand this thing , all people that have talked to me about it says its legit and blah blah blah but ive only seen one with actual money irl.
so

 

[mentally lost cel 1]

fucking cryptotards, you are ngmi, you will never be rich

 

[NirvanaFan1988]

i dont understand this thing , all people that have talked to me about it says its legit and blah blah blah but ive only seen one with actual money irl.
so

Ponzi scheme and yet normies are retarded enough to fall for that shit.

 

[JayGoptri]

fucking cryptotards, you are ngmi, you will never be rich

This ^ (mostly)

 

[JayGoptri]

Ponzi scheme and yet normies are retarded enough to fall for that shit.

It's not going to work out the way people think it will... Especially with today's uncertainty. Better of just holding physical Gold !

 

[NirvanaFan1988]

Better of just holding physical Gold !

Which is long gone on shithole countries.
Thanks for bringing that point brocel.
Cheers!

 

[JayGoptri]

Which is long gone on shithole countries.
Thanks for bringing that point brocel.
Cheers!

 

[HyperVersager_4EVER]

i dont understand this thing , all people that have talked to me about it says its legit and blah blah blah but ive only seen one with actual money irl.
so

Most people who get rich out of it are
a) Have insider info on what is about to get pumped and when it is about to get dumped to cash out before normie horde loses all their gains
b) Are very early adopters who managed to HODL through several crashes(no longer a valid strategy, at least for making significant gains)
c) Are very lucky
Sometimes I really feel like putting money in it but the cautious part of my brain tells me that I am more likely to lose than hit big.

 

[WizardofSoda]

Most people who get rich out of it are
a) Have insider info on what is about to get pumped and when it is about to get dumped to cash out before normie horde loses all their gains
b) Are very early adopters who managed to HODL through several crashes(no longer a valid strategy, at least for making significant gains)
c) Are very lucky
Sometimes I really feel like putting money in it but the cautious part of my brain tells me that I am more likely to lose than hit big.

Now I am recommending Shiba Inu.. its down 87% from its highs in this crash.

As long as you don't invest that much and are willing to lose all of it.

 

[JayGoptri]

Now I am recommending Shiba Inu.. its down 87% from its highs in this crash.

As long as you don't invest that much and are willing to lose all of it.

One of the best canine breeds ever

Kek.

 

[HyperVersager_4EVER]

Now I am recommending Shiba Inu.. its down 87% from its highs in this crash.

May I respectfully ask what makes you think it will make a (significant) come back? Isn't shiba a doge-offshoot memecoin?

 

[Linesnap99]

they buy high sell low

 

[JayGoptri]

Gold. Buy Gold. Buy Gold.

 

[WizardofSoda]

May I respectfully ask what makes you think it will make a (significant) come back? Isn't shiba a doge-offshoot memecoin?

Ya its a meme coin. Way I view it is the market cap of Shiba Inu is still ~$6 billion, peak therefore was $46 billion since its down 87%.

This could jump easily imo to like $20 billion market cap if coins start going up again. Then I will sell maybe 1/2 of the coins I bought last night. Then I will still have the remaining 1/2 of the coins but my money out plus a profit.

So I am thinking about the probability. The odds of it going up to $20 billion or more versus going down and never coming back to here.


I think some of the coins they are big enough and well known enough that they are household names, that probably they aren't going away easily. Dogecoin, Shiba Inu, Bitcoin, Ethereum, BNB, probably others I have heard the name but I don't know hardly anything about them.

 

[WizardofSoda]

@HyperVersager_4EVER @JayGoptri

I am in at $10.73 on Shiba Inu from late May with 2% of my money. (actually it is $0.00001073 but I say $10.73 to make sense of it).

I just held when it went down to $7.60, now its back up to $10.37.

The peak was in October-2021 at $81.90.

 

[HyperVersager_4EVER]

@HyperVersager_4EVER @JayGoptri

I am in at $10.73 on Shiba Inu from late May with 2% of my money. (actually it is $0.00001073 but I say $10.73 to make sense of it).

I just held when it went down to $7.60, now its back up to $10.37.

The peak was in October-2021 at $81.90.

I don't expect any serious crypto bull run until at least late summer tbh, it will probably zig zag up and down or crash some more till then.
I also still am not convinced that shib will blow up again, without another memecoin hype or Musk shitposting, neither is predictable or guaranteed.
But it's a perfectly fine gamble if that's just 2% of your portfolio.