crypto investment
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1,000 x 365
,000= 1,000,000 every three years so as long as crypto market doesnt collapse you will die a multimillionaire. You'll also live broke, but that's just something you have to accept.Edit: there are 365 days in a year, not 365,000. My mind went like 1,000 x 365 = 365,000 = a third of a million. Or a million every three years.
Jesus, just take the 5% on the million and be happy lol.
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This isn't the argument you think it is. A boring, S&P 500 index fund investment was also about $4000 at the time. Now it's $6359:
Etherium? Not even back up to that same $4000...
Crypto is super volatile, like perpetual RNG volatile, which is a little more out-of-the-way in the stock market.
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I've reviewed my budget and decided this is do-able. 1,000 rials a day till I die.
If I live for 40 years more, and it doubles in value, I'll have $695 when I die!
1,000 rials a day
Somehow i assumed you were talking about dollars or euros. I have heard of this strategy (dollar cost averaging) by buying the same amount on a frequent basis. But i myself would be inclined to spread the risks too though. Best of luck accumulating that $695 though!
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Nice hands. Are they made of paper?
wrote last edited by [email protected]lemmy openly talking about crypto
Bearish as fuck. Guess it's all over.
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I had to check, I never knew Ethereum got that high. It's apparently at 3,600 right now. It passed 4000 twice, hasn't dropped to 1,000 after those but looked like it was at 1800 or something after the crash in 2021.
They had to buy at its absolute peak. Sheesh. Guess if they sell now they only lose like 10%.
There's no loss if you don't sell
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Wait three months?
Prob not going past 4k anytime soon though so maybe sell at 3800 and put it into a utility company?
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There's no loss if you don't sell
If you never sell it's a 100% loss since you can never use that money for anything ever.
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This isn't the argument you think it is. A boring, S&P 500 index fund investment was also about $4000 at the time. Now it's $6359:
Etherium? Not even back up to that same $4000...
think it is. A boring, S&P 500 index fund investment was also about $4000 at the time
The problem with that index fund is it's slowly going up and to the right, more or less.
That Etherium is going from < 1500 to > 3800 every 4-6 months.
Hands off, long term investing funds are good where it's at if we don't crash the economy, but there is some cash to be made in crypto if you have spare change lying around.
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Wait three months?
Prob not going past 4k anytime soon though so maybe sell at 3800 and put it into a utility company?
Eth doesn't take much power like that anymore if that's what you're thinking. Other crypto does, of course.
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Eth doesn't take much power like that anymore if that's what you're thinking. Other crypto does, of course.
no no, fun through though. More that power companies always go up and to the right. They're the hallmark of safe investment.
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If you can't handle investments being volatile then only invest in bonds, CDs, and savings accounts.
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If you never sell it's a 100% loss since you can never use that money for anything ever.
Yeah, it's funny that people say no loss until you sell. I get the joke but they're ignoring that under that definition the purchase was a loss lol.
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1,000 x 365
,000= 1,000,000 every three years so as long as crypto market doesnt collapse you will die a multimillionaire. You'll also live broke, but that's just something you have to accept.Edit: there are 365 days in a year, not 365,000. My mind went like 1,000 x 365 = 365,000 = a third of a million. Or a million every three years.
1,000 x 365,000 = 1,000,000 every three years or so
Something is amiss there. Your years seem about a thousand times too long
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1,000 x 365,000 = 1,000,000 every three years or so
Something is amiss there. Your years seem about a thousand times too long
Yes oops
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Currently worth $3,642.07, but yes 4k was a stupid buy.
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Welcome to holding the bag. Never listen to family.
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Currently worth $3,642.07, but yes 4k was a stupid buy.
If it were 10k it would have been a genius buy though!
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no no, fun through though. More that power companies always go up and to the right. They're the hallmark of safe investment.
Except for PCG…
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If it were 10k it would have been a genius buy though!
No, it wouldn't. 2k would have been. Buying at the all time peak is ALWAY a stupid buy, idc if it does take off after.
Like playing the slot machines hoping for a jackpot.
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No, it wouldn't. 2k would have been. Buying at the all time peak is ALWAY a stupid buy, idc if it does take off after.
Like playing the slot machines hoping for a jackpot.
wrote last edited by [email protected]Buying at the all time peak is ALWAY a stupid buy
If you bought NVIDIA at $43/share on September 1, 2023 you were an absolute dipshit.
If you bought Palantir at $35/share on January 29, 2021 you were a total moron.
Meanwhile, Bear Stearns at $60 in March of 2008? A fucking steal. Buy! Buy! Buy!
Like playing the slot machines hoping for a jackpot.
I always read the prospectus on a slot machine before I put money in. Strangely enough the p/e on these things is amazing, but I never make any money on my trades.
