bitcoin

VTI Total Returns [US Stock Market]

- 2019 = +31%

- 2020 = +21%

- 2021 = +26%

- 2022 [YTD] = -22%

VCN Total Returns [CDN Stock Market]

- 2019 = +22%

- 2020 = +5%

- 2021 = +26%

- 2022 [YTD] = -6%

It's very hard to feel badly about what's going on at the moment in the context of the last few years as Niels points out.

Posted by: [email protected]

I'm still waiting for the Tether house of cards to collapse.

Some background on the current crash:

https://davidgerard.co.uk/blockchain/2022/06/13/celsius-goes-fahrenheit-451-and-number-goes-down/

Heckler, just zoom out to the last 10+ years on your boring index funds and you'll find they don't look that bad (yet). Bond funds will eventually backfill with higher interest rates and recover.

I'm still buying more couch potato every month so lower valuations are actually nice.

My partner has transitioned to the decumulation phase so she's not too stoked right now but no sign of panic.

This is why I bumped this thread.  I couldn't remember the details so I went back into the NBR archives to see what you said about Tether.

So I hope all of you made hay on crypto or at least didn't lose more than you could afford but I think there are lessons to be learned.  Crypto prices are not behaving like gold as I was assured by the internet hive mind and Bitcoin is still the king of the crypto kingdom as far as I can see.

IMO, it doesn't matter what kind of tech is used or what it is supposed to be storing the only way to stabilize crypto is to first make it a viable currency.

Posted by: chupacabra

IMO, it doesn't matter what kind of tech is used or what it is supposed to be storing the only way to stabilize crypto is to first make it a viable currency.

Bitcoin/crypto in its current form is simply too much ingrained with extremist libertarian ideology to ever provide us with a functional currency. It's more like a religious cult, complete with messiah, holy script, preachers, and loyal followers. It's not unlikely that enough people will continue to believe in it for it to remain a thing but I can't see it ever becoming mainstream.

Posted by: Vikb

VTI Total Returns [US Stock Market]

VCN Total Returns [CDN Stock Market]

Carbonium bikes with at least one 29" wheel 

2019 +2%

2020 + 20%

2021 +25%

2022 +32%

(fictional returns, I don't really know...)

Posted by: [email protected]

Heckler, just zoom out to the last 10+ years on your boring index funds and you'll find they don't look that bad (yet). Bond funds will eventually backfill with higher interest rates and recover.

not worried at all, although I did rebalance US -> Bonds in March, which probably has helped.  VAB taking a dive along with everything else kind of sucks.

I know, I know... wrong thread, sorry guys.  

HODL!  To the moon!

and no, haven't lost a penny in crypto, although I'll admit I've been closeted curious on r/wallstreetbets.

Bitcoin supply is halving again in 2024. It's halved three times already and every time it's been preceded by a huge dump and followed by a year long rally. I guess it's possible the next halving will be the combo breaker tho? 

I'm gonna guess bitcoin keeps crashing until at least 2023 dragging everything else down with it.  If that happens I'll start accumulating crypto again early next year

Posted by: [email protected]

Posted by: chupacabra

IMO, it doesn't matter what kind of tech is used or what it is supposed to be storing the only way to stabilize crypto is to first make it a viable currency.

Bitcoin/crypto in its current form is simply too much ingrained with extremist libertarian ideology to ever provide us with a functional currency. It's more like a religious cult, complete with messiah, holy script, preachers, and loyal followers. It's not unlikely that enough people will continue to believe in it for it to remain a thing but I can't see it ever becoming mainstream.

This was probably its weakness all along.  I became interested in Bitcoin back in the day because of the promises of economic freedom,  the possibilities of blockchain tech, and its theoretical ability to let everyone be their own bank account, transferring money anywhere with ease.  Not that I am a libertarian, just that it sounded like it could make a big impact, especially in countries with dodgy currency.  Now it's nothing but an investment roller coaster and it gave rise to bullshit I was have never expected, like NFTs.  It may very well climb to 100K, but with absolutely nothing behind any of the crypto "currencies", it will always rise and fall at the whim of the news cycle.

So was it a smart move to take out a third mortgage on the house and use that to maximum leverage to go full balls deep in Bitcoin on Nov 12th 2021?

Posted by: earleb

So was it a smart move to take out a third mortgage on the house and use that to maximum leverage to go full balls deep in Bitcoin on Nov 12th 2021?

If that’s what you did, your balls are getting squeezed hard by Red Rampage now.

Posted by: heckler

Posted by: earleb

So was it a smart move to take out a third mortgage on the house and use that to maximum leverage to go full balls deep in Bitcoin on Nov 12th 2021?

If that’s what you did, your balls are getting squeezed hard by Red Rampage now.

I told her I read about it on r/wallstreebets so it was a sure fire win. 

I keep getting a message from the broker about a "margin call" is that good?

^^ full YOLO.

Respect.

Posted by: earleb

I keep getting a message from the broker about a "margin call" is that good?

You won!  Just delete the app, it'll be fine.

BTC price up 100% over the last year. Halving is estimated to happen in April. 

I started buying again last August. Just a little bit each paycheque. No memecoins this time though. I'm never getting that lucky again. Not in a million years.

IBIT down 10.8% in the first week boomers started buying bitcoin through ETFs, despite amassing 1B AUM.