Re:Nassim Taleb: Bitcoin failed as a currency and became a s...
by iso1631 on Saturday April 17, 2021 @07:21AM
(#26843395)
> Distrust will also prevent a whole generation of investors to invest again
My parents lost a lot in the 2000 crash, so were spared from the 2008 crash. Between those two I decided buying shares was a mugs game
(Nasdaq was 4000-5000 before crashing to 1300 back in 2000. It recovered to 2500 by 2008 before crashing back to 1500.
It's now 14,000 - massive gains in the last 10 years I've missed out on because of not trusting.
If you'd have bought $1k of Nasdaq and 1k of Bitcoin 5 years ago, you'd have $3k from nasdaq - an amazing return.
I can sort of see why the nasdaq is so high though. Crypto though?
That same $1k would mean you'd have $137k from bitcoin. If that's sustainable I don't know what unsustainable is.
DOGE? You'd be a millionaire.
But the political decisions of the economy seem to be built around driving these things up. It makes the UK house price boom of the 90s and 00s look tame - 500% in 25 years? A measly 6% roi?
25% per year gains on stocks, 170% per year on bitcoin? 300% per year on DOGE?
In 2018 people were saying about tulipmania with bitcoin and how the price would collapse. It did. $1k invested at the height of the bubble in 2017/18 when it reached $20k - 20 times what it was earlier in the year, was soon worth just $150.
It would now be worth $3k, 45% per year roi from investing at the worst possible time
Putting a measly $10 a month into bitcoin every month for the last 5 years would have cost $600 and left you with $14,620 today.
The market can remain retarded longer than I can remain solvent. The only thing I've learnt waiting for things to crash is that I'm an idiot, and people who fall for hype are rich.
My parents lost a lot in the 2000 crash, so were spared from the 2008 crash. Between those two I decided buying shares was a mugs game
(Nasdaq was 4000-5000 before crashing to 1300 back in 2000. It recovered to 2500 by 2008 before crashing back to 1500.
It's now 14,000 - massive gains in the last 10 years I've missed out on because of not trusting.
If you'd have bought $1k of Nasdaq and 1k of Bitcoin 5 years ago, you'd have $3k from nasdaq - an amazing return.
I can sort of see why the nasdaq is so high though. Crypto though?
That same $1k would mean you'd have $137k from bitcoin. If that's sustainable I don't know what unsustainable is.
DOGE? You'd be a millionaire.
But the political decisions of the economy seem to be built around driving these things up. It makes the UK house price boom of the 90s and 00s look tame - 500% in 25 years? A measly 6% roi?
25% per year gains on stocks, 170% per year on bitcoin? 300% per year on DOGE?
In 2018 people were saying about tulipmania with bitcoin and how the price would collapse. It did. $1k invested at the height of the bubble in 2017/18 when it reached $20k - 20 times what it was earlier in the year, was soon worth just $150.
It would now be worth $3k, 45% per year roi from investing at the worst possible time
Putting a measly $10 a month into bitcoin every month for the last 5 years would have cost $600 and left you with $14,620 today.
The market can remain retarded longer than I can remain solvent. The only thing I've learnt waiting for things to crash is that I'm an idiot, and people who fall for hype are rich.