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Since this thread started there's still nothing that beats bitcoin returns it seems. It's doubled since January.

Posted by: Fast-Orange

Since this thread started there's still nothing that beats bitcoin returns it seems. It's doubled since January.

Pretty irrelevant to the thread. Buying a lottery ticket and winning the jackpot did pretty well too.

I can't imagine the stress of putting all my faith and money in a volatile speculative asset with no underlying value and never knowing if/when the bubble will burst.

Buying low cost index funds and relying on savings rate and compounding returns rather than hoping for a lucky break has been a dependable strategy. Zero effort, no stress, and it totally worked as described.

Posted by: [email protected]

Posted by: Fast-Orange

Since this thread started there's still nothing that beats bitcoin returns it seems. It's doubled since January.

Pretty irrelevant to the thread. Buying a lottery ticket and winning the jackpot did pretty well too.

I can't imagine the stress of putting all my faith and money in a volatile speculative asset with no underlying value and never knowing if/when the bubble will burst.

Buying low cost index funds and relying on savings rate and compounding returns rather than hoping for a lucky break has been a dependable strategy. Zero effort, no stress, and it totally worked as described.

You're right obviously and I'm never touching bitcoin again..

But the fact still remains bitcoin has always been a win as long as you hold long enough.

^^ so were Tulips in the 1600s.

I can't help but think their hyping Bitcoin to the moon so they can leave everyone holding the bag when they cash out.. nothing makes sense right now and I feel a strong urge to pull out of the markets while we wait for the next Republican caused recession.. check the history books it happens every time.

Posted by: Fast-Orange

But the fact still remains bitcoin has always been a win as long as you hold long enough.

Yes, but it's not actionable knowledge. We didn't know this 10 years ago and we don't know if it will continue to be true.

Also, bitcoin is a negative sum game: it costs money to run the network, and no value is created. Every dollar you take out to realize your "win" requires someone else to put in a dollar, or actually a little more to compensate for the network costs. On an individual level it's possible to win with a bit of luck, but as a whole the system will always generate a net loss.

In contrast, the world stock market as a whole is likely to continue to create value in the long run as we humans continue to be productive and innovative.

Posted by: [email protected]

Posted by: Fast-Orange

But the fact still remains bitcoin has always been a win as long as you hold long enough.

Yes, but it's not actionable knowledge. We didn't know this 10 years ago and we don't know if it will continue to be true.

Also, bitcoin is a negative sum game: it costs money to run the network, and no value is created. Every dollar you take out to realize your "win" requires someone else to put in a dollar, or actually a little more to compensate for the network costs. On an individual level it's possible to win with a bit of luck, but as a whole the system will always generate a net loss.

In contrast, the world stock market as a whole is likely to continue to create value in the long run as we humans continue to be productive and innovative.

Yeah I'm not disagreeing with any of that. Bitcoin sucks.

I gotta say the whole idea of bitcoin really does suck but If you can make money on bitcoin then that part doesnt suck

own a little bitcoin buy/sell make a profit but I have heard the people who hang out in chi chi coffee bars ( eating avocado toast ) and craftbrews saying bitcoin is gona replace real money so they are all in on bitcoin

so don't be that guy with everything in bitcoin, treat it like a crazy volatile stock,

don't be that guy with everything in any one investment and that is pretty universal IMO

edit: there are a lot of jokes around milenials and avocado toast, boomers can also eat the avocados so they were a perfect ripeness this AM

Owning broad market index funds already automatically provides appropriate exposure to bitcoin through shares in companies like Coinbase and the miners. These are the shovel sellers who actually make money from the gold rush. This even includes traditional fund managers like Blackrock who make money from the management fee on their Bitcoin ETF.

So like all the other noise, it's safe to ignore bitcoin completely.

Posted by: Fast-Orange

Since this thread started there's still nothing that beats bitcoin returns it seems. It's doubled since January.

NVDA has almost tripled since January, and gone from $0.50 since this thread started to $148 now. Why didn't we buy it in 2014?

https://www.theregister.com/2001/11/30/nvidia_joinss_p/

ROFL, literally. Nvidia joined the S&P500 in 2001, to replace Enron. Turns out I did buy it in 2014, and every two weeks after that, as part of VUN, then VTI, then VFV.

Posted by: heckler

Posted by: Fast-Orange

Since this thread started there's still nothing that beats bitcoin returns it seems. It's doubled since January.

NVDA has almost tripled since January, and gone from $0.50 since this thread started to $148 now. Why didn't we buy it in 2014?

I'd consider buying nividia more of a gamble. Especially now as it'll all start crashing down once investors give up on AI being profitable.

In 2014 one bitcoin was 300 dollars. Times 406 vs. your times 296.

And what exactly drove the Nvidia explosion pre-AI I wonder....

As an aside the Chinese government holds 200 000 bitcoin in the national treasury as of October and is steadily accumulating more. I don't think it's going anywhere. I'm gonna predict that in ten years 1 bitcoin will be around a million dollars if society hasn't collapsed by then.

Hopefully this thread is still around then too and we're all enjoying or close to retirement.

Posted by: heckler

https://www.theregister.com/2001/11/30/nvidia_joinss_p/

ROFL, literally. Nvidia joined the S&P500 in 2001, to replace Enron. Turns out I did buy it in 2014, and every two weeks after that, as part of VUN, then VTI, then VFV.

I had a fair bit of NVidia in 2008 but someone told me about the looming housing crisis so I sold everything.  The stock value has gone up over a hundred times since then.  Never did clue into the "long term" strategy.