For the Bitcoin Bros - $400,000 in 2021?

Now, with many bitcoin and crypto analysts trying to call where the market top will be, a Bloomberg analyst has predicted the bitcoin price could hit $400,000 this year—even as Musk seems more interested in "joke" bitcoin rival dogecoin.

https://www.forbes.com/sites/billybambrough/2021/04/08/bitcoin-price-prediction-why-bitcoin-could-rocket-to-400000-in-2021/?sh=77443b5b27a3

Also,

The precise cause of the early Saturday morning bitcoin price surge was not immediately clear, however, a cryptic tweet from Tesla TSLA +0.1% billionaire and bitcoin-buyer Elon Musk has spurred the $2 trillion cryptocurrency market higher.

"... going to moon very soon," Musk said via Twitter, shortly after the bitcoin price jumped, perhaps referencing the popular "bitcoin to the moon" meme and sparking speculation Musk's rocket company SpaceX could follow Tesla in adding bitcoin to its balance sheet.

https://www.forbes.com/sites/billybambrough/2021/04/10/moon-very-soon-cryptic-elon-musk-spurs-bitcoin-on-as-price-suddenly-blasts-past-60000-and-ethereum-hits-fresh-high/?sh=7150f33b4e0a

The bet is almost elegantly simple. You're not reading a balance or evaluating a business. You have $60,000 to invest - I do - and you throw it into this thing and basically cross your fingers.

Can someone talk me into, or out of, this?

@greenblood ???

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Comments

jecornel

voyager app is an alternative to coinbase. They pay interest on coins. Coinbase is considered the gold standard mainstream wise but there are tons of crypto exchanges. It gets complicated. Voyager and coinbase are the easiest to navigate. Voyager app pays 8.5% APR on USDC which is the same as cash not FDIC insured. I have both apps. Voyager is publicy traded and has their own coin that you can buy to boost interest rates. https://www.investvoyager.com/app/

Voyager has been getting shit on a bit but mainly because their growth has been insane. I have used it since January with little issue. No desk top version yet. Their support is lacking. Stock symbol https://www.marketwatch.com/investing/stock/vygvf

You could buy 10 or 15k of bitcoin for exposure. There are so many coins that could 10 to 50x. AAVE coin has a 70,000% return in one year. AAVE peaked $500 bucks a coin and you could have bought it for $.05 cents a year ago. Polkadot & Chainlink I believe are 1000% return. Enj coin 3000%. Tons of coins like this.

AVAX (Avalanche) could be a $1000 dollar coin trading at $38 dollars (voyager app)

Ethereum is considered the next trillion dollar coin which you could buy instead of Bit.

Some say just buy bitcoin and Ethereum and nothing else. Hard to argue that but the explosive growth in altcoins is hard to pass up.

If I had 60k to burn on crypto, 25k into bit and Eth, and the remaining 10k I would put into various coins. This would be a long-term approach. If you want to attempt wild gains in the next year or two. You could turn that 60k into a couple million.

There are other exchanges like uniswap but you need ethereum to buy through it to pay for "gas" fees and download metamask onto your browser and do a bunch of transfer bullshit that I am not willing to do but it does expand your coin options.

My exposure is low but it's fun right now because coins are riding the wave right now.

This guy is awesome, tons of videos and good data:

https://www.youtube.com/watch?v=zRJslqJJRJs

Another resource guy: https://www.youtube.com/channel/UCl2oCaw8hdR_kbqyqd2klIA

PurpleThrobber

I was so convinced crypto was this generation’s tulip craze. I’m kicking myself for not buying a little early on just for funsies.

Fuck me and my overly conservative investment strategies.
Same. I had a friend go in heavy in 2017 but I thought it was too late because it was already mainstream. He told me I would regret not buying some. I was taught or at least self taught to think that once the average Joe finds out about something it’s too late.
I keep praying to the financial gods that I’ll just blunder my way into something on big on the ground floor like a lot of these rich assholes.

One of the wealthiest people I know admitted to me, “yes, I worked hard...but a lot of it was just being lucky enough to be in the right place at the right time.”

That's about 75% of it.

Lots of smart people, lots of hard working people but right place/right time accounts for a shitload of it. Know plenty of Microsoft/Amazon millionaires and, quite honestly, there are 50 regular posters here just as smart, just as witty, just as whatever.....

God forbid you ever point that out to any of them though.

BleachedAnusDawg

For the crypto experts, what is this? Should I do this since I bought as a long-term hold, anyways?

Doog_de_Jour

The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
I made my first purchase two days ago. Same rationale.

How did you buy it?

BleachedAnusDawg

The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
I made my first purchase two days ago. Same rationale.
How did you buy it?

Coinbase app.

jecornel

Yes, stake it.

Baseman

Yes, stake it.

How?

creepycoug

The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
If it goes up to 400? What odds do we? need for that to happen before you roll $60,000? Unless I'm misunderstanding ... you need $60k for one bitcoin, right?
Yeah, $60+k right now for one coin. If I had a million in the bank $60k would still be too big a risk to me. I don't have the funds to do much gambling versus long-term security right now.

This is what people misunderstand. Bitcoin is the long term safety net. It's the hedge against countries with insane monetary policies, including ours. At a minimum it will continue to eat gold's market share of the store of value market but it's the hedge against the psychotic MMT promoters too.

THIS is about as good an explanation for why I should do it that I've seen. Still, I feel like I just really don't understand it enough and it would be a complete leap of faith.

jecornel

Coinbase will provide all the prompts. It’s essentially just earning interest on the coin.

Yes, stake it.
How?

jecornel

Think of crypto as the wood coin or dial up for internet.

Blockchain solving all kinds of things like supply chain problems, health records and it can fix voting but who wants that!

It will change a ton of shit.

The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
If it goes up to 400? What odds do we? need for that to happen before you roll $60,000? Unless I'm misunderstanding ... you need $60k for one bitcoin, right?
Yeah, $60+k right now for one coin. If I had a million in the bank $60k would still be too big a risk to me. I don't have the funds to do much gambling versus long-term security right now.

This is what people misunderstand. Bitcoin is the long term safety net. It's the hedge against countries with insane monetary policies, including ours. At a minimum it will continue to eat gold's market share of the store of value market but it's the hedge against the psychotic MMT promoters too.
THIS is about as good an explanation for why I should do it that I've seen. Still, I feel like I just really don't understand it enough and it would be a complete leap of faith.

BleachedAnusDawg

The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
If it goes up to 400? What odds do we? need for that to happen before you roll $60,000? Unless I'm misunderstanding ... you need $60k for one bitcoin, right?
Yeah, $60+k right now for one coin. If I had a million in the bank $60k would still be too big a risk to me. I don't have the funds to do much gambling versus long-term security right now.

This is what people misunderstand. Bitcoin is the long term safety net. It's the hedge against countries with insane monetary policies, including ours. At a minimum it will continue to eat gold's market share of the store of value market but it's the hedge against the psychotic MMT promoters too.
THIS is about as good an explanation for why I should do it that I've seen. Still, I feel like I just really don't understand it enough and it would be a complete leap of faith.

UWerentThereMan

Think of crypto as the wood coin or dial up for internet.

Blockchain solving all kinds of things like supply chain problems, health records and it can fix voting but who wants that!

It will change a ton of shit.
The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
If it goes up to 400? What odds do we? need for that to happen before you roll $60,000? Unless I'm misunderstanding ... you need $60k for one bitcoin, right?
Yeah, $60+k right now for one coin. If I had a million in the bank $60k would still be too big a risk to me. I don't have the funds to do much gambling versus long-term security right now.

This is what people misunderstand. Bitcoin is the long term safety net. It's the hedge against countries with insane monetary policies, including ours. At a minimum it will continue to eat gold's market share of the store of value market but it's the hedge against the psychotic MMT promoters too.
THIS is about as good an explanation for why I should do it that I've seen. Still, I feel like I just really don't understand it enough and it would be a complete leap of faith.

I strongly recommend listening to this podcast episode ‘Bitcoin, not blockchain’ to fully grasp the difference between blockchain for title/medical records/property that does not exist explicitly in the blockchain itself and Bitcoin. https://open.spotify.com/episode/7rdDV85mbLwIWjnusl9ZU4?si=gY5ABJ94RiOZi0tCz0xnxA

Blockchain in the context of Bitcoin is far far more important than anything else implemented with a blockchain. Scammers will use blockchain as a buzzword to take your money and buy more Bitcoin with it.

UWerentThereMan

Or for those that read good, the article at unchained capital https://unchained-capital.com/blog/bitcoin-not-blockchain/

PurpleThrobber

Think of crypto as the wood coin or dial up for internet.

Blockchain solving all kinds of things like supply chain problems, health records and it can fix voting but who wants that!

It will change a ton of shit.
The price of it is so high that you have to put a ton of money in it to make much off of it. I bought some the other day (very small amount) more as a hedge on what's going on with the USD and concern about global currency, etc.
If it goes up to 400? What odds do we? need for that to happen before you roll $60,000? Unless I'm misunderstanding ... you need $60k for one bitcoin, right?
Yeah, $60+k right now for one coin. If I had a million in the bank $60k would still be too big a risk to me. I don't have the funds to do much gambling versus long-term security right now.

This is what people misunderstand. Bitcoin is the long term safety net. It's the hedge against countries with insane monetary policies, including ours. At a minimum it will continue to eat gold's market share of the store of value market but it's the hedge against the psychotic MMT promoters too.
THIS is about as good an explanation for why I should do it that I've seen. Still, I feel like I just really don't understand it enough and it would be a complete leap of faith.

Block chain will have more of an impact than crypto currency.

Already in discussion on a couple applications with some folk.

Baseman

I was so convinced crypto was this generation’s tulip craze. I’m kicking myself for not buying a little early on just for funsies.

Fuck me and my overly conservative investment strategies.
Same. I had a friend go in heavy in 2017 but I thought it was too late because it was already mainstream. He told me I would regret not buying some. I was taught or at least self taught to think that once the average Joe finds out about something it’s too late.
I keep praying to the financial gods that I’ll just blunder my way into something on big on the ground floor like a lot of these rich assholes.

One of the wealthiest people I know admitted to me, “yes, I worked hard...but a lot of it was just being lucky enough to be in the right place at the right time.”

Essential Markets
Target Growth
Cyber Camps
Web Pe
MyWallet

there's a few more I'm missing. In 1999-2000, I clamored to get in and ended up with a nice tax write off.

creepycoug

I was so convinced crypto was this generation’s tulip craze. I’m kicking myself for not buying a little early on just for funsies.

Fuck me and my overly conservative investment strategies.
Same. I had a friend go in heavy in 2017 but I thought it was too late because it was already mainstream. He told me I would regret not buying some. I was taught or at least self taught to think that once the average Joe finds out about something it’s too late.
I keep praying to the financial gods that I’ll just blunder my way into something on big on the ground floor like a lot of these rich assholes.

One of the wealthiest people I know admitted to me, “yes, I worked hard...but a lot of it was just being lucky enough to be in the right place at the right time.”

Essential Markets
Target Growth
Cyber Camps
Web Pe
MyWallet

there's a few more I'm missing. In 1999-2000, I clamored to get in and ended up with a nice tax write off.

don't get me started on the dot.coms everybody was all lathered up about. Terabeam, Drugstore, HomeGrocer ....

Baseman

I was so convinced crypto was this generation’s tulip craze. I’m kicking myself for not buying a little early on just for funsies.

Fuck me and my overly conservative investment strategies.
Same. I had a friend go in heavy in 2017 but I thought it was too late because it was already mainstream. He told me I would regret not buying some. I was taught or at least self taught to think that once the average Joe finds out about something it’s too late.
I keep praying to the financial gods that I’ll just blunder my way into something on big on the ground floor like a lot of these rich assholes.

One of the wealthiest people I know admitted to me, “yes, I worked hard...but a lot of it was just being lucky enough to be in the right place at the right time.”

Essential Markets
Target Growth
Cyber Camps
Web Pe
MyWallet

there's a few more I'm missing. In 1999-2000, I clamored to get in and ended up with a nice tax write off.
don't get me started on the dot.coms everybody was all lathered up about. Terabeam, Drugstore, HomeGrocer ....

WebVan...Pets.com...I wrote checks, lost $

Doog_de_Jour

I was so convinced crypto was this generation’s tulip craze. I’m kicking myself for not buying a little early on just for funsies.

Fuck me and my overly conservative investment strategies.
Same. I had a friend go in heavy in 2017 but I thought it was too late because it was already mainstream. He told me I would regret not buying some. I was taught or at least self taught to think that once the average Joe finds out about something it’s too late.
I keep praying to the financial gods that I’ll just blunder my way into something on big on the ground floor like a lot of these rich assholes.

One of the wealthiest people I know admitted to me, “yes, I worked hard...but a lot of it was just being lucky enough to be in the right place at the right time.”

Essential Markets
Target Growth
Cyber Camps
Web Pe
MyWallet

there's a few more I'm missing. In 1999-2000, I clamored to get in and ended up with a nice tax write off.
don't get me started on the dot.coms everybody was all lathered up about. Terabeam, Drugstore, HomeGrocer ....

That was my big one.

But truth be told I was right...it was just many years later and called Amazon Prime Now. 😅

jecornel

Put your 60k in Vechain (VET)

Baseman

Put your 60k in Vechain (VET)

Why? Coinbase doesn't offer.