Bitcoin

[fmyth]

It’s going to zero eventually. Don’t know when and wish I did.

Are you shorting BTC?

 

[MntHunter]

If it follows previous cycles we will go sideways or down a little till about July/August. There is a lot of excitement around Halving but then nothing really big happens and people with paper hands get nervous.

Then the supply starts to tighten more with less BTC being mined.

The trickle down to Eth, Sol, and other chains will be epic.

But as mentioned above, once Cramer says get out, make sure you go all in!!!

 

[PNW bow hunter]

I’m curious how many guys are playing with “real money” on this thread.

All through Covid everyone was a winner on stock picks. Then reality set in. I was surprised see how many of the people that posted often on the Rokslide stock traders thread didn’t really have much invested. Multiple people only had a couple grand or way less it seemed after the market tanked. When it was going up, you would of thought they were all in.

Are most of you guys 50 percent of net workers in crypto?

10 percent of net worth in crypto?

1 percent of net worth in crypto?

 

[MountainTracker]

Japans pension fund is exploring options of adding btc to diversify fund. I didn’t realize their pension fund was the world’s largest.

World's Largest Pension Fund Seeks Information on Bitcoin Under Portfolio Diversification Plan

Japan's state pension fund, GPIF, is seeking information about bitcoin as part of a broader strategy initiated in response to significant economic and societal changes and technological advancements.

www.coindesk.com

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[Danny Hoey]

Anyone buy on River?

 

[MountainTracker]

Anyone buy on River?

My brother does


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[Danny Hoey]

My brother does


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I always just buy on Robinhood because it’s convenient but River was recommended to me by someone. Seems legit but haven’t heard it tossed around much

 

[CorbLand]

I’m curious how many guys are playing with “real money” on this thread.

All through Covid everyone was a winner on stock picks. Then reality set in. I was surprised see how many of the people that posted often on the Rokslide stock traders thread didn’t really have much invested. Multiple people only had a couple grand or way less it seemed after the market tanked. When it was going up, you would of thought they were all in.

Are most of you guys 50 percent of net workers in crypto?

10 percent of net worth in crypto?

1 percent of net worth in crypto?

I have about 70K in my retirement and of that, a little over 1000 is in crypto.

I did get a nice surprise in that I found out I had a retirement plan with a company I worked part time for. I got 4500 in a trad IRA and bought about 2500 worth of a Bitcoin etf. If you count that as crypto, then 3500 of my 70K is in crypto.

 

[Bowfisher]

Some great info from some knowledgeable folks on this thread, thank you. For the older " dollar bill " folks on here, wrapping your head around BTC is tough....but ask yourself this question.

With the chronic money supply increase the FED has done, and our chronic addiction to it, how long is our dollar going to last? There is only two ways out of this debt...either they inflate it away, like they are trying to do now, where they pay back pennies on the dollar, or there will be a Reckoning Day, when there is a total reset of currency, and a hundred dollar bill will be worth less than a roll of toilet paper.

Yes, you can " touch " a dollar bill, but that's not what gives it it's value....it's the agreement between the financial institutions and the masses that gives it value. An invisible, intangible ,unenforceable agreement....Once the debt can't be paid, and default occurs...those " dollars " in your 401k will be worthless. Actual paper dollars will have some value, IMO,until we all realize what we thought was real, was just a Ponzi scheme all along..

 

[Dos Perros]

Are you shorting BTC?

Nope.

 

[southLA]

OMG everyone sell!!

 

[MountainTracker]

OMG everyone sell!!

Hahaha


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[180ls1]

Financial advisor here:

Have had several instances where people refuse the company match on the 401K to put more money into Bitcoin/Crypto.

 

[Dos Perros]

Financial advisor here:

Have had several instances where people refuse the company match on the 401K to put more money into Bitcoin/Crypto.

These are the kinds of people that I expect hire a financial advisor lol.

 

[180ls1]

These are the kinds of people that I expect hire a financial advisor lol.

Yeah, however, many of them are too arrogant to understand the value of working with a professional. I would never take one as a client. Luckily I am on the business side so I help the owners administer the 401K and group benefits.

Apparently, with a 401K match you *only* get a 100% return on your money, 10% growth and a solid tax deduction (30%). Strangely enough, after running into several of these brodogs it somewhat swayed me more towards the staying power of crypto. They may not have brain cells but they do have conviction lol.

 

[MountainTracker]

Yup, luckily I am on the business side so I help the owners administer the 401K and group benefits.

Apparently, with a 401K match you *only* get a 100% return on your money, 10% growth and a solid tax deduction (30%). Strangely enough, after running into several of these brodogs it somewhat swayed me more towards the staying power of crypto. They may not have brain cells but they do have conviction lol.

As an advisor I have a question I’m sure you e been asked. For a 30 yo putting into their 401k, and only getting 100% return, and 10% growth, do you think that same person at the age of 65 will be holding enough in their 401k to have a good retirement with the current loss of value of the USD. I guess another question is will they still have the same buying power?

What’s funny in this thread is some people think this is the only investment people have. I have put into a company retirement fund for over 15 years, and I have put into btc/crypto for a much shorter amount of time. My crypto holdings is on the verge of surpassing 15 years of 401k, 100% return, 10% + growth. I think one reason would bc the 401k is not benefiting from inflation, it’s melting bc the 10% growth is not enough to keep pace. Hopefully I explained that correctly enough.


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[2531usmc]

Some great info from some knowledgeable folks on this thread, thank you. For the older " dollar bill " folks on here, wrapping your head around BTC is tough....but ask yourself this question.

With the chronic money supply increase the FED has done, and our chronic addiction to it, how long is our dollar going to last? There is only two ways out of this debt...either they inflate it away, like they are trying to do now, where they pay back pennies on the dollar, or there will be a Reckoning Day, when there is a total reset of currency, and a hundred dollar bill will be worth less than a roll of toilet paper.

Yes, you can " touch " a dollar bill, but that's not what gives it it's value....it's the agreement between the financial institutions and the masses that gives it value. An invisible, intangible ,unenforceable agreement....Once the debt can't be paid, and default occurs...those " dollars " in your 401k will be worthless. Actual paper dollars will have some value, IMO,until we all realize what we thought was real, was just a Ponzi scheme all along..

Watch Japan’s economy melt down over addictive debt. That’s what we have to look forward to.

 

[180ls1]

As an advisor I have a question I’m sure you e been asked. For a 30 yo putting into their 401k, and only getting 100% return, and 10% growth, do you think that same person at the age of 65 will be holding enough in their 401k to have a good retirement with the current loss of value of the USD. I guess another question is will they still have the same buying power?

What’s funny in this thread is some people think this is the only investment people have. I have put into a company retirement fund for over 15 years, and I have put into btc/crypto for a much shorter amount of time. My crypto holdings is on the verge of surpassing 15 years of 401k, 100% return, 10% + growth. I think one reason would bc the 401k is not benefiting from inflation, it’s melting bc the 10% growth is not enough to keep pace. Hopefully I explained that correctly enough.


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If we look at history, yes. Every $1 you put in today is worth $20 at 65 ($10 is you, $10 is match $$$, using 7% interest to account for inflation-adjusted returns). What the future holds? That's always a tougher question but investing in businesses (stocks/bonds) has a tremendous track record of wealth building that has absolutely outpaced inflation. Remember, you're investing in businesses, not currency.

I also like real estate. Stocks/bonds and real estate have made more millionaires than anything else.

A well-diversified approach is a good idea and I have no issue with Crypto, I'll probably own it someday. For the time being, investing in my business, real estate and stocks/bonds has treated me well.

 

[Stave]

Some great info from some knowledgeable folks on this thread, thank you. For the older " dollar bill " folks on here, wrapping your head around BTC is tough....but ask yourself this question.

With the chronic money supply increase the FED has done, and our chronic addiction to it, how long is our dollar going to last? There is only two ways out of this debt...either they inflate it away, like they are trying to do now, where they pay back pennies on the dollar, or there will be a Reckoning Day, when there is a total reset of currency, and a hundred dollar bill will be worth less than a roll of toilet paper.

Yes, you can " touch " a dollar bill, but that's not what gives it it's value....it's the agreement between the financial institutions and the masses that gives it value. An invisible, intangible ,unenforceable agreement....Once the debt can't be paid, and default occurs...those " dollars " in your 401k will be worthless. Actual paper dollars will have some value, IMO,until we all realize what we thought was real, was just a Ponzi scheme all along..

I don't think this comment is directed at a real person. That is, I don't think anyone has tried to argue that the US dollar is good, sound or just. Any dollar defenders out there?

I 'short' the dollar by owning stocks, precious metals & real estate

 

[Stave]

My son bought bitcoin years ago to buy stuff on a online video game he played . He had 7 left, All of this purchase was "online" and his laptop crashed and he lost his memory stick with the data. He had no way too get back into get access to his bitcoins. The data was not retrievable. To this day he wines about it. I would too.

This is a perfect example why Bitcoin will not become currency for everyday transactions until it is user friendly and safe. And, in my opinion, Bitcoin is merely a casino chip unless it will someday be used as currency