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#FOMO Parabolas

EwaDawg
EwaDawg Member Posts: 4,467
edited May 2022 in Tug Tavern
Ok. For my crypto and meme brothers. .. . . .


https://www.msn.com/en-us/money/savingandinvesting/big-short-investor-michael-burry-warns-the-mother-of-all-crashes-is-coming-and-predicts-crypto-and-meme-stocks-will-plummet/ar-AALbltE?ocid=msedgntp
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  • greenblood
    greenblood Member Posts: 14,573
    Invest what you can afford to lose. I have about $5k in crypto. If it shoots great, if I lose it all, fuck it.
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  • greenblood
    greenblood Member Posts: 14,573
    edited June 2021
    A large reason for the crash is because of the fact that idiot investors got over-leveraged in it. When people have 50% or more invested in crypto and it dips 20%, they panic.

    I feel the best way to invest in crypto is long term. Pick the projects that have high usage potential and buy them bits at a time. Don’t think about the ups and downs. Buy a little here and a little there, then check your account in about 10 years. Day trading it can be very profitable, but only the hood ones make it long term. Most people get hammered eventually.
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  • PostGameOrangeSlices
    PostGameOrangeSlices Member Posts: 27,931
    greenblood said:

    A large reason for the crash is because of the fact that idiot investors got over-leveraged in it. When people have 50% or more invested in crypto and it dips 20%, they panic.

    I feel the best way to invest in crypto is long term. Pick the projects that have high usage potential and buy them bits at a time. Don’t think about the ups and downs. Buy a little here and a little there, then check your account in about 10 years. Day trading it can be very profitable, but only the hood ones make it long term. Most people get hammered eventually.

    The hood crypto daytraders. Lol
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  • ntxduck
    ntxduck Member Posts: 6,268
    greenblood said:

    A large reason for the crash is because of the fact that idiot investors got over-leveraged in it. When people have 50% or more invested in crypto and it dips 20%, they panic.

    I feel the best way to invest in crypto is long term. Pick the projects that have high usage potential and buy them bits at a time. Don’t think about the ups and downs. Buy a little here and a little there, then check your account in about 10 years. Day trading it can be very profitable, but only the hood ones make it long term. Most people get hammered eventually.

    Buy eth
    Stake eth at 6%
    Check back in a year
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  • greenblood
    greenblood Member Posts: 14,573
    edited June 2021
    ntxduck said:

    greenblood said:

    A large reason for the crash is because of the fact that idiot investors got over-leveraged in it. When people have 50% or more invested in crypto and it dips 20%, they panic.

    I feel the best way to invest in crypto is long term. Pick the projects that have high usage potential and buy them bits at a time. Don’t think about the ups and downs. Buy a little here and a little there, then check your account in about 10 years. Day trading it can be very profitable, but only the hood ones make it long term. Most people get hammered eventually.

    Buy eth
    Stake eth at 6%
    Check back in a year
    I love ETH. 60% of my crypto portfolio is that. I’m also in cardano, matic, chain link and stellar, in smaller amounts
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  • godawgst
    godawgst Member, Swaye's Wigwam Posts: 2,614 Swaye's Wigwam
    Piggybacking on this. What if someone took $100 and invested it in each of the top 50 or 100 Crypto currencies and just walked away for 10 years?

    Would the one or two unicorns make up for the rest of them who more than likely go to zero?
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,812 Standard Supporter
    godawgst said:

    Piggybacking on this. What if someone took $100 and invested it in each of the top 50 or 100 Crypto currencies and just walked away for 10 years?

    Would the one or two unicorns make up for the rest of them who more than likely go to zero?

    I’m actually familiar with a guy who has done just that. Except with a couple more zeros attached. Every fucking one of them

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  • greenblood
    greenblood Member Posts: 14,573
    edited June 2021
    PostGameOrangeSlices said:

    greenblood said:

    A large reason for the crash is because of the fact that idiot investors got over-leveraged in it. When people have 50% or more invested in crypto and it dips 20%, they panic.

    I feel the best way to invest in crypto is long term. Pick the projects that have high usage potential and buy them bits at a time. Don’t think about the ups and downs. Buy a little here and a little there, then check your account in about 10 years. Day trading it can be very profitable, but only the hood ones make it long term. Most people get hammered eventually.

    The hood crypto daytraders. Lol
    godawgst said:

    Piggybacking on this. What if someone took $100 and invested it in each of the top 50 or 100 Crypto currencies and just walked away for 10 years?

    Would the one or two unicorns make up for the rest of them who more than likely go to zero?

    You’re assuming that there will only be 1-2 unicorns. If so, then stay out. But if you think there can be 6-7, then yes it’s worth it. Because those 6-7 will be up by multiples by then.
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  • backthepack
    backthepack Member Posts: 19,942
    ETH is run by a anorexic nerd with shittier technology than the rich fat guy but less market share and less time to develop his system at cardano. They also have a dedicated organzation like employees around it while ETH is a community only driven project. Give me the rich fat guy with the resources behind him in this one.
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  • greenblood
    greenblood Member Posts: 14,573
    edited June 2021
    backthepack said:

    ETH is run by a anorexic nerd with shittier technology than the rich fat guy but less market share and less time to develop his system at cardano. They also have a dedicated organzation like employees around it while ETH is a community only driven project. Give me the rich fat guy with the resources behind him in this one.

    I’m slowly building my other crypto especially cardano. I think cardano is a great hedge on ETH. Both could do well, but at least one should.
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