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Originally Posted by aigel
The whole thing above sounds like gambling. Not like a currency. Guy being upset he got out too early. And guy unhappy he didn't bet, I mean "invest". IDK about you, but I can't start gambling like this with any of my money. It is way too stressful and there is zero influence I have on the outcome.
I don't even go there "could have should have", but what about the people that bought it at 60+k? Nobody ever talks about those. Are they going to hold it? What a crock.
It also looks like the "currency" isn't really holding up like a safe haven. Gold is up up up, crypto is down down down. I always have to chuckle seeing the golden bit-coin renderings in articles mentioning bitcoin. Interesting world we live in.
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If someone bought at 60K I would hope they are holding for the long game.
Imagine buying a stock 10 years ago at pennies per share and it shooting up to 60K. Then dropping back down to 40K, If you purchased a 60K would you dump it?
I diversified my investments greatly. My hedge against this fake stock market is Gold / Silver and Crypto.
What other hedge is there? Cash? Cash is losing its buying power ever month that goes by.
I have a relatively small amount in Crypto compared to my investment accounts and my G&S stores.
If I had to put a percentage on it, I would guess 2-5% I really never worked that out.
What I did work out is the fact that what I have in Crypto is an amount I do not care about, if I lost it all tomorrow it would be annoying but not life altering.
While Crypto is down, I keep nibbling at it on a monthly basis.
That 180K my friend made cashing out? He mined all of it, his mining rig is in a server room in his office/business so technically the power consumed was a write off too.