Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by sethammons on Tuesday February 16, 2021 @05:57PM (#26159873)

Haha, yes. In 2011, a guy on my team was all about bitcoin and dogecoin and such. I think bitcoin was like 11 cents a coin, or maybe a dollar by that point. I just plain didn't get it. Still barely do. I could have easily picked up a few hundred dollars of coin or, if I was a believer, a grand or two. Had I held onto it, I would be worth hundreds of millions of dollars. However, if I got in at 10 cents, I would have sold at a dollar. And if I didn't sell there, I would have sold at 10 dollars, 100, 1000, etc. I would never, ever have ridden it to 10k, 20k, 30k. Still not putting money on it.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by SilverRed on Tuesday February 16, 2021 @06:12PM (#26160036)

The last point is the big one. Almost no one would have carried on through the last 3 bitcoin bubbles if they did buy at the start.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by SamPatt on Tuesday February 16, 2021 @07:03PM (#26160638)

I know several people personally that did. Among people who have worked in the cryptocurrency industry it's not unusual that they've cashed out small portions of their stash in each bubble but still hold some today.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by enraged_camel on Tuesday February 16, 2021 @08:24PM (#26161422)

Yeah, this is the “safe” way to do speculative investing: when the asset price goes up, at one point or another you can take out your original investment, and the rest becomes “pure profit”. At that point the worst case scenario is that you break even.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by rabidrat on Tuesday February 16, 2021 @08:27PM (#26161452)

I agree, I would not have either. But my present financial philosophy for such things is to always sell half (and only half).

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Re:Bitcoin surpasses $50K as major companies jump into crypto by anm89 on Tuesday February 16, 2021 @06:00PM (#26159902)

doge coin did not exist in 2011.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by kvee on Tuesday February 16, 2021 @06:11PM (#26160016)

I read his original statement with the "and such" to mean that he isn't specifically referring to dogecoin, but just things like it.

Which gets him off the hook for it not existing back then.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by chillacy on Wednesday February 17, 2021 @12:31PM (#26168962)

A similar principle applies to tech stocks too. I know some Tesla and Apple millionaires. After reading The Psychology of Money I’m trying to be a more “buy and hold” investor and “let my winners ride”.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by 1ark on Wednesday February 17, 2021 @02:36AM (#26163727)

Most important part of the story, where is the guy on your team now?!

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Re:Bitcoin surpasses $50K as major companies jump into crypto by brighton36 on Tuesday February 16, 2021 @06:10PM (#26160007)

Bitcoin is the most complicated idea known to man: number go up.

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