Investing 102

[XLexusTech]

Originally Posted by XLexusTech

Several of the young guys I work with have been into Bitcoin and a few other currencies

One is up 800k yeah that’s not a typo they tell me it’s going to hit 10 k then level off at 6 for a while... so tempting but I know nothing about it Anyone have any insight?

I have some money that I definitely could afford to gamble with

7600 the day I wrote this post.. over 11K now...

[GregWeld]

Originally Posted by XLexusTech

7600 the day I wrote this post.. over 11K now...

Bitcoin is a phenomenon for certain --- Personally --- I can't afford the losses that will come with the meteoric rise. Sure.... it might run some more - and maybe it never crashes.... but when "everyone" is talking about something - and the money they've made - and you start to hear the grocery store clerk telling you about it.... It's time to run as fast as you can. Like the housing market -- like the Dot.com -- like flippers -- like in the 80's the apartment investments for tax shelters....

I HOPE it doesn't and that I'm the only idiot that missed making a fortune....

For me - Amazon (AMZN) and NetFlix (NFLX) and a couple others of their ilk are risky enough and they're actual real businesses. I think Bitcoin has turned in to nothing but speculation. It went from being a currency (one I never did understand) to now just going up because it's going up. I read today that one exchange opened 100,000 new accounts for trading it in one day.... that tells me there are 100,000 people that probably don't have a f'n clue about investing - or even what Bitcoin is... To me -- that's scary.

And to those that got in early -- and have taken their gains and recovered the money they initially put in - lucky you! I'm happy as hell for ya!

[XLexusTech]

Exact same boat..

Originally Posted by GregWeld

Bitcoin is a phenomenon for certain --- Personally --- I can't afford the losses that will come with the meteoric rise. Sure.... it might run some more - and maybe it never crashes.... but when "everyone" is talking about something - and the money they've made - and you start to hear the grocery store clerk telling you about it.... It's time to run as fast as you can. Like the housing market -- like the Dot.com -- like flippers -- like in the 80's the apartment investments for tax shelters....

I HOPE it doesn't and that I'm the only idiot that missed making a fortune....

For me - Amazon (AMZN) and NetFlix (NFLX) and a couple others of their ilk are risky enough and they're actual real businesses. I think Bitcoin has turned in to nothing but speculation. It went from being a currency (one I never did understand) to now just going up because it's going up. I read today that one exchange opened 100,000 new accounts for trading it in one day.... that tells me there are 100,000 people that probably don't have a f'n clue about investing - or even what Bitcoin is... To me -- that's scary.

And to those that got in early -- and have taken their gains and recovered the money they initially put in - lucky you! I'm happy as hell for ya!