Bitcoin Thread

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Pudding McTwinkle said:
10 years, dude. Develop the diamond hands. Your older you will thank you.
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1-2 years tops. I can't invest for 10 years - I'll need to take my profits at some point. If I can gain a 40-50% in profit I'll be pretty darn happy.
 
Olorin said:
What is long term? 1 year? Because if so then I guess I'll be in for about a year +-.

Can anyone give me advice on how to dollar cost average properly? I know you are supposed to take away the emotion but damn that's difficult. It's basically my savings.
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you dont seem cut out for BTC or any high risk asset.

Essentially figure out what you can invest.

For example R1000-R5000 a month.

just split over the weeks of the month and buy a bit once a week, then DONT LOOK AT IT.

Also if you have any debt you should not invest in anything like this

If you are emotional about it you are likely "investing" TOO MUCH

Stop looking for get rich quick things it will burn you :)

go to the casino select black or red 50/50 to dbl your money
 
Olorin said:
1-2 years tops. I can't invest for 10 years - I'll need to take my profits at some point. If I can gain a 40-50% in profit I'll be pretty darn happy.
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If you hold for 3 years you pay capitals gains taxs +-20% instead of income tax which depends on your bracket but lets assume 45%.
 
CryptosEra said:
i am sure people who waited years for the ETF approval
so they can buy HALF A BILLION DOLLARS PER DAY
will dump before halving
then we dip
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These are hedge funds / institutions who previoulsy couldn't buy, doubt they waited years to buy just to sell a few weeks later. The whole grayscale selling pressure is gone so I think we keep grinding up
 
Olorin said:
What is long term? 1 year? Because if so then I guess I'll be in for about a year +-.

Can anyone give me advice on how to dollar cost average properly? I know you are supposed to take away the emotion but damn that's difficult. It's basically my savings.
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DON'T SPEND WHAT YOU CAN'T AFFORD TO LOSE! That is the best way to keep emotion out of it. If it were to go to 0 tomorrow, I would be a bit sad, but it won't change my life.

Don't put all your savings into it at once.
At this stage, I think it is a long term investment. Don't use what you will need in 5 years time.
Bitcoin is still just speculation. Just because ETFs joined the market does not mean there's something concrete behind it now.

At this stage, the 10x growth in 2 years time is also not going to happen. There will be no instant life-changing winnings here.
 
Barbarian Conan said:
DON'T SPEND WHAT YOU CAN'T AFFORD TO LOSE! That is the best way to keep emotion out of it. If it were to go to 0 tomorrow, I would be a bit sad, but it won't change my life.

Don't put all your savings into it at once.
At this stage, I think it is a long term investment. Don't use what you will need in 5 years time.
Bitcoin is still just speculation. Just because ETFs joined the market does not mean there's something concrete behind it now.

At this stage, the 10x growth in 2 years time is also not going to happen. There will be no instant life-changing winnings here.
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1708002833105.png
*Slowly exits the room*
 
gustavo07 said:
View attachment 1662093
*Slowly exits the room*
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Well...

Even in highschool I saved diligently, amassing R1000, which was quite a lot for me at the time. I invested in ETFs. That money is still there, and probably sitting at R20K. Big whoop.

Later, I saved more money, having about R40K in the bank (in addition to a home) when I was 30. I don't know how that would have performed had I kept it separate.

In the meantime, my salary grew, the Rand tanked, and I emigrated. Assuming that R40K trippled in the last 15 years, it would still only cover a few months' rent. Had I gambled half of it on something high risk back then and lost it all, it wouldn't really have made a difference on my life right now...
Had the gamble paid off, it could have been life changing.

(This is not financial advice. It is easy to look at one instance where a gamble would have paid off, but gambling like that is never isolated. Making high risk "investments" is addictive, and a pattern of failing high risk investments chasing the next big thing would also have been life changing, leaving me in my 40s with nothing to my name. Gamble responsibly. Know when to stop. What is it really costing you?)
 
L-Dog said:
Hope you were in since last year Sep, wallet up 250% over the last 6 months.
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I started in September, bought some BTC at R490k, then more at R600k and more at R800k, BTC is now R1mill, all thanx to @Snyper564 when he gave me the nod each time.

Nodding meme guy' is Robert Redford, and the Internet is stunned.
 
Eth is also good play in my option, still laggig BTC and probably the next ETF to be approved with no real sell pressure like Bitcoin had with Grayscale after the ETF went live.
 
L-Dog said:
Eth is also good play in my option, still laggig BTC and probably the next ETF to be approved with no real sell pressure like Bitcoin had with Grayscale after the ETF went live.
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I also bought 300 Cardano in September just for the fun of it. It has tripled in value since then.
 
UB40 said:
I also bought 300 Cardano in September just for the fun of it. It has tripled in value since then.
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Much more bullish on Sol than cardano but congrats those are decent gains
 
L-Dog said:
Much more bullish on Sol than cardano but congrats those are decent gains
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Yeah it was cheap and I will see where it takes me in 20 years time. I paid less than R2k for it in total. If it ever hits R1000 a coin I will be very happy, that's R300 000, if it falls flat and I lose everything it isn't a trainsmash. I treat crypto as a hobby, if I lose everything then so be it, Im just having fun
 
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