not a single person is selling their bitcoin. It looks like it might just go straight to $100k eoy. But I just can't buy in now, not with it up over 3x since a month ago. But at the same time there is no dip in sight.
Not a single person is selling their bitcoin. It looks like it might just go straight to $100k eoy...
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>time in the market is better than timing the market
based boomer advice
Can you explain that concept like I am 5 years old?
Just buy CKB, user.
Buy what you can now and skim off the top 10% in regular intervals as it rises to $100k. At $9K right now that's more than a 10x to go, so take off 10% for every 1x it goes from here. You'll have preserved some money on the way up and will have the money to buy it when it bottoms out. I would tell you how to short if I knew how to do so strategically.
A minority of days per year account for the majority of the value gained. Finding those days is extraordinarily difficult compared to just investing, holding, and thus being there when those days happen.
bears always lose in the end bobo. It was nice knowing you but were bull now
Just buy and set a stop my dude
I am not buying now you psychopath its up 3x in a month. this is just like last year. 40 days of pump then it bleeds out for the rest of the year.
>this
blows my mind that some people are playing margins on bitcoin. All people have to do is buy bitcoin, pull it off the exchange into a private address, and hold it for a couple years, decade maybe, and they will be able to retire. People are blinded by the short term that they can't even see the long term which isn't even that far away.
It's a worthless ponzi and all the greatest fools got burned in 2017.
It's a worthless ponzi and all the greatest fools got burned in 2017.
It's a worthless ponzi and all the greatest fools got burned in 2017.
yeah just DCA (dollar cost average) your money into the preferred stock(s), fund(s), or crypto(s) of your choice. pay a set amount every week or month or whatever. treat it like a bill. don't try to time the market to find the best day to buy. basic boglehead shit. if you believe that the asset will increase in value by continuing to invest over time you'll invest when it's high and invest when it's low but ultimately it will average out and you'll just keep increasing your position. if you're planning to hodl for a long time this is usually the best way to go about it.
>pull it off the exchange into a private address
why?
DUDE JUST HODL LMAO
fucking idiot
not him but it's much safer to have your crypto in a private wallet. exchanges can get hacked, go out of business, whatever and generally your losses are not covered. i know coinbase if FDIC insured but i believe that's just for your cash holdings not your crypto wallets (but i could be wrong).
>But I just can't buy in now, not with it up over 3x since a month ago. But at the same time there is no dip in sight.
I feel the same OP, I've decided not to buy. Hopefully there will be another dip. >_>
> up 3x
BTC was not $3K a month ago user.
Nah he is right....in the end traders never get wealthy...investors do.
yeah but how bulletproof is having bitcoin on a tails wallet, for example? What if that usb breaks for no reason
I'm sure you've heard the phase "not your keys, not your bitcoin". Same reason you don't want to leave your gold with the bank. You're trusting the bank to give you the gold when you want/need it, but what happens if the bank goes under? What happens if the exchange you bought all your bitcoin on suddenly gets "hacked" because in reality they don't actually have all the bitcoin they claim to have on their exchange because they were just taking your money so they say they were hacked then dip out like a dozen other crypto exchanges have done so already.
user I....
Dude, zoom out the chart. This is not the top of 2017. We were literally at this level 2oish of February. We were on the way to bull market halving. Then Corona happened. All went down, which really does not relate to crypto fundamentals.
Just buy a little. ladder in. If down you buy cheaper the rest. If up you are starting to make money.
On a longer timeline, we are still in the fucking dip. Just at Macro level!
There are legendary investors but how many legendary day traders are there?
i know if you lose a ledger wallet or have it stolen you can recover the crypto as long as you have your seed words. don't know about a tails wallet.
just shut the fuck up already, there are tens if not hundreds of thousands of traders making bank
What wallet products would you guys suggest? What about paper wallets?
i have a ledger nano s. it works fine for me. haven't had any issues with it. costs around $50 on amazon.
To invest is to literally hodl. Don't invest in what you don't understand, and judging by how you're talking, you don't seem like the kind to understand.
>seed words
oh I'm with you.
what's that like? safe way to store crypto?
yeah very safe. it's a physical device you can keep with you at all times and you can buy crypto on an exchange and then send it there to your various addresses. if you ever lose it or it breaks as long as you keep your seed words written down in a safe place you can restore all your accounts no problem.
Am I safe holding btc on Robinhood. No fees and it's easy
I generated my own addresses with BIP44, setup my Mnemonic and Passphrase are through a series of hoops for myself, everyone has their own method to create theirs.
here's a link to ledger's product page if you want to read more
shop.ledger.com
honestly you're better off buying on coinbase even. you can't even send it anywhere from robinhood it's just like a stock. if you're just planning on hodling forever then it's fine i guess, but most people would rather actually have it in their possession and be able to send it somehwere or exchange it.
nice. it's not reliant on some third party company is it? I just don't know how you'll be able to retrieve that crypto, where is that able to be retrieved in that scenario? i need to look into this
NO
you do not own any bitcoin with robinhood, you cannot transfer it to any wallet.
no, even if ledger were to go out of business someday (which is unlikely) you can still transfer it to another wallet or still keep it there. it's very safe. tons of people use ledger wallets to store their crypto.
So much this
what if breaks or you lose it?
>why?
Ask people who have lost money on exchanges, they will tell you why. Also, if you are nit in control of your private keys you don't actually own any of it, your exchange does. Your keys are everything.
yeah but this also means the most important decision when investing is your entry. Why would i pick right now. This is a shit entry.
like i said beofre, they give you 3 different sheets when you buy one that you write down a list of seed words that are given to you when you first boot the device. keep them in separate places in case there is a fire or something or keep it in a fire resistant safe.
as long as you have your seed words you can recover your crypto to a different wallet. no risk of losing it if the device breaks or you lose it.
>What if that usb breaks for no reason
As long as you have your keys written down in a fireproof safe or better yet engraved in a metal plate, you can always restore your wallet from those keys.