Cryptocurrency mega-thread

[BEaston]

Some people just aren't very good at playing games, so they talk down on games because it's obviously the games fault.

Plenty of people in this thread have made, and are making good money right now.

Yeah myself included, search the thread. Although that's completely irrelevant to the points I'm making.
Just because I've made some money in it, doesn't make anything I said untrue.
Classic strawman.

 

[thedreadpirateroberts]

More or less anyone can get a legit job in this country, that will bring a lot more wealth to someone's life than dabbling in crypto. If you have a job, you have a super fund which invests in financial institutions. How are people locked out?
For the small % of people that legit can't get a job, I'd say they have bigger issues than trying to make some small amount of coin in crypto.

For the vast majority of people investing in crypto, those that will make life changing money already have enormous wealth. Those people are manipulating the markets in their own favour. It's a rigged game. Good on those that play it and take some wins here and there but if you're trying to make it big in crypto as someone with little amount of money, good luck to you. Not impossible but extremely unlikely.

you must be spending time with ppl who aren't doing it right then. I know tons of ppl who have made 6 figures in the past year in the crypto world.

 

[Ghost Patrol]

Yeah myself included, search the thread. Although that's completely irrelevant to the points I'm making.
Just because I've made some money in it, doesn't make anything I said untrue.
Classic strawman.

Ok, so you can see a difference between 'enormous wealth' and 'more enormous wealth', enough for it to be considered life changing.

But you cant see a difference between 'extreme poverty' and 'being above the poverty line', which would actually be life changing.

 

[BEaston]

I forgot crypto only exists in Australia.

Silly me.

I thought maybe referencing the $1 a day wage might have hinted that I was talking about the global impact it can have on a poor working class.

Oh you were being literal hahah. Yeah I'm sure heaps of people earning $1 a day are: a) investing in crypto at all or b) making any type of wealth from it if they are. I daresay those people are more worried about where their next meal is coming from.

Your post is even more stupid than I thought.

 

[faible]

I know tons of ppl who have made 6 figures in the past year in the crypto world.

No you don't.

The number of people that have put the amount of money in to make that kind of return is small, so unless it just so happens that most of them are in your friendship circle, you don't know 'tons' of people making $100k plus profit in the past year from crypto.

 

[BACCS]

For anyone new thinking of getting into crypto, within the space of a week the following has happened to me:
Bought Doge at its peak and lost a bit of money after it dived, but then recovered and have broken even, staying well away for now
Bought 2/3rds of my ETH at 5500 and have lost a bit of money by doing this, but this one will recover over the next couple of months and should still make a nice profit during this bull run
Diverged my portfolio too much to start with and have since consolidated into the few I believe in long term
Have done a lot of research and find TradingView with the market cipher add in a very useful tool to avoid making stupid trades
Went down 2.5k mid week, then recovered to be 2k up on Friday and now down about 3k, the dips are wild but if you’ve done the research then either HODL or buy more during the dip (if you can afford it)

 

[thedreadpirateroberts]

No you don't.

The number of people that have put the amount of money in to make that kind of return is small, so unless it just so happens that most of them are in your friendship circle, you don't know 'tons' of people making $100k plus profit in the past year from crypto.

lol ok pal

 

[faible]

lol ok pal

Sorry your exaggerated claim isn't true I guess?

 

[BACCS]

No you don't.

The number of people that have put the amount of money in to make that kind of return is small, so unless it just so happens that most of them are in your friendship circle, you don't know 'tons' of people making $100k plus profit in the past year from crypto.

I have one friend that has, but they’ve also invested their life savings into it and got in during early 2020. Most people I talk to barely know what it is. If I even make 5 figures during this bull cycle I’ll be stoked.

 

[BEaston]

Ok, so you can see a difference between 'enormous wealth' and 'more enormous wealth'

But cant see a difference between 'extreme poverty' and 'being above the poverty line'?

Of course, but crypto ain't doing that. How much can someone in extreme poverty afford to throw on Doge?

 

[thedreadpirateroberts]

Sorry your exaggerated claim isn't true I guess?

its very true. not gonna be bothered entertaining an argument however. as you were

 

[tangolikelama]

Lmao I put 5k into ETH, BTC, ADA, MATIC and VET yesterday. RIP.

 

[faible]

I have one friend that has, but they’ve also invested their life savings into it and got in during early 2020. Most people I talk to barely know what it is. If I even make 5 figures during this bull cycle I’ll be stoked.

Basically this, there's going to be a handful of people that dumped serious coin in to it last year and have made some big returns.

There's others - a lot of people in this thread - who've dumped some money in to it, have seen good returns, but are using play money to do it.

Then there's the unlucky few who bought in last week and are enjoying the ride down before it goes again... or so we all hope

 

[faible]

its very true. not gonna be bothered entertaining an argument however. as you were

I'd be surprised if you knew more people that have made > $100k profit on crypto in the past 12 months than you could count on both hands. Let alone 'tons'.

 

[Ghost Patrol]

Of course, but crypto ain't doing that. How much can someone in extreme poverty afford to throw on Doge?

How long is a piece of string?

Do you think poor people shouldn't invest money?

 

[BEaston]

I have one friend that has, but they’ve also invested their life savings into it and got in during early 2020. Most people I talk to barely know what it is.

Ballsy move but good on him. These cases are extremely rare.

 

[faible]

Lmao I put 5k into ETH, BTC, ADA, MATIC and VET yesterday. RIP.

At the very least you can hold ETH & BTC long-term and should end up well ahead.

ADA looks to be butting up against the price floor at the moment, MATIC looks like it's on the uptrend again and VET, well, the chart looks sad but it also looks under-priced which should see it come back.

 

[Bostonian]

Oh you were being literal hahah. Yeah I'm sure heaps of people earning $1 a day are: a) investing in crypto at all or b) making any type of wealth from it if they are. I daresay those people are more worried about where their next meal is coming from.

Your post is even more stupid than I thought.

You're stupid if you don't think a factory worker making that wage doesn't have access to the internet and is oblivious to things like crypto.

I've seen plenty in telegram chat rooms talking about investing $30 or $40 in the hope of creating some kind of wealth for themselves.

You must truly lead a sheltered life.

 

[bzparkes]

Well that's their fault then. Everybody should be looking at it as a play thing, the odds of the small guy making it big from crypto are tiny.

Huh? People get hugely rich all the time with small amount of coin on savvy investments. Even scam pump and dump can get you well ahead if you understand how to play them.

 

[BEaston]

How long is a piece of string?

Do you think poor people shouldn't invest money?

Lol, how disingenuous are you. Another strawman. Either make your own points or leave the discussion. Putting words in my mouth via questions back to me is weak.

I don't think someone living in extreme poverty has any amount of money to invest as food, shelter, medicine, etc are all much greater needs. If they do, sure go for it but it isn't lifting them out of extreme poverty.

The game is rigged, and in the vast majority of cases, the little guy is the one that gets played. If you can't see it, then good luck to you. There's a few in here that do see it, and play the game appropriately.

 

[tangolikelama]

At the very least you can hold ETH & BTC long-term and should end up well ahead.

ADA looks to be butting up against the price floor at the moment, MATIC looks like it's on the uptrend again and VET, well, the chart looks sad but it also looks under-priced which should see it come back.

Oh I'm happy for it to sit for a few years. Just funny how I've instantly lost $500

 

[faible]

Oh I'm happy for it to sit for a few years. Just funny how I've instantly lost $500

Yeah it's been an ugly week!

 

[bzparkes]

Oh I'm happy for it to sit for a few years. Just funny how I've instantly lost $500

You mean instantly had your investment devalue by $500
Think I'm down around 3k3dkuring these dumps but just holding as I'm confident in my investments.

Stupidly, the only one that hasn't dumped for me is the one 'safe' coin I have in my portfolio, but I got in $100 sub 100k market cap and it's nearly 3 million now so made a pretty tidy profit off that one so far. Skimmed my $100 And another $100 off early so it's just free money now.

 

[BEaston]

You're stupid if you don't think a factory worker making that wage doesn't have access to the internet and is oblivious to things like crypto.

I've seen plenty in telegram chat rooms talking about investing $30 or $40 in the hope of creating some kind of wealth for themselves.

You must truly lead a sheltered life.

So they save up 3/4 of their annual wage and whack it all on crypto? Sure invest $30 or $40 in crypto in hope, I very much doubt that person is earning $1 a day living in extreme poverty. Your post was stupid and you're changing the context now.

 

[Ghost Patrol]

Lol, how disingenuous are you. Another strawman. Either make your own points or leave the discussion. Putting words in my mouth via questions back to me is weak.

I don't think someone living in extreme poverty has any amount of money to invest as food, shelter, medicine, etc are all much greater needs. If they do, sure go for it but it isn't lifting them out of extreme poverty.

The game is rigged, and in the vast majority of cases, the little guy is the one that gets played. If you can't see it, then good luck to you. There's a few in here that do see it, and play the game appropriately.

Funny that. I started investing part of my jobseeker payments in January. I'm still over 10k up, during this dip.

Can you please use your special vision powers and tell me how to play more appropriately?