I just bought $200,000 of Bitcoin

[Walker88]

50 minutes ago, Sparktrader said:

Btw I called it right. Buy at 39,000 went to 44,000.

 

Buy at 34,400, now 35,500.

 

Not advice. Just good trades.

Oscar Wilde once quipped, "I'm not young enough to know everything".

 

I suspect you are rather young.

 

Having been a professional Wall Street trader, and not yet old enough myself to be 'ignorant', I have seen many like you who boast of their trading prowess. Most end up penniless, as hubris makes them blind to dumb luck.

 

I happen to be rich. I also happen to know 100% I am quite lucky. I can admit luck plays a major role in virtually everything in life, from birth itself to trading markets.

 

When you're a billionaire, maybe you will have gained a platform not made of sand.

[Sparktrader]

3 minutes ago, Walker88 said:

Oscar Wilde once quipped, "I'm not young enough to know everything".

 

I suspect you are rather young.

 

Having been a professional Wall Street trader, and not yet old enough myself to be 'ignorant', I have seen many like you who boast of their trading prowess. Most end up penniless, as hubris makes them blind to dumb luck.

 

I happen to be rich. I also happen to know 100% I am quite lucky. I can admit luck plays a major role in virtually everything in life, from birth itself to trading markets.

 

When you're a billionaire, maybe you will have gained a platform not made of sand.

I happen to be rich. I suspect you are rather young. I used to work for Soros.

 

But I'm not boasting.

 

 

 

 

[Longwood50]

58 minutes ago, Sparktrader said:

Bitcoin has beaten the market many times. 

Yes and even a broken watch is correct two times a day.  Here is just 1 stock Global Crossings which "beat the market many times"  

If you purchased it towards it's peak it was 175.00 per share.  Now trading at 1.56  

Trees do not grow through to stars.  As some point valuations based solely on speculation burst and tumble much faster than they go up. 

[Sparktrader]

Great minds discuss ideas; average minds discuss events; small minds discuss people.

Eleanor Roosevelt

[Sparktrader]

Just now, Longwood50 said:

Yes and even a broken watch is correct two times a day.  Here is just 1 stock Global Crossings which "beat the market many times"  

If you purchased it towards it's peak it was 175.00 per share.  Now trading at 1.56  

Trees do not grow through to stars.  As some point valuations based solely on speculation burst and tumble much faster than they go up. 

 

Airline stocks

High risk low margins

[Sparktrader]

That stock had a classic top. Only people who cant read charts bought the high.

 

 

[Sparktrader]

Up 1650 now

[Longwood50]

30 minutes ago, Sparktrader said:

Airline stocks

High risk low margins

LOL and just exactly is bitcoin.  Bitcoin has zero tangible value. 

 

The bitcoin doesn't even physically exist.  Bitcoin is the ultimate in speculation.  At least Gold, soybeans, oil, etc have a tangible product and utilitarian value.  Bitcoin is worse than smoke.  At least with smoke you can see it, and smell it.  Bitcoin is an illusion, a figment of someones creation that very clever marketing has created a market and mania for it.  The only way to 'make money" with bitcoin is the greater fool.  No matter how much you pay for it, there will be a fool greater than you willing to pay more. 

Bitcoin does not and can not produce income and has zero utility in the way some commondities such as gold can be used in electronics, and jewelry.  





eToys was launched on November 3, 1997, as an Idealab company.^[2] In 1999, eToys held an IPO. Shares were issued at $20. At the end of the first day of trading, the stock closed at $76 a share.^[3] eMarketer was once quoted as saying; "Put simply, eToys is the benchmark against which all other toy sites are measured".^[

[Sparktrader]

Just now, Longwood50 said:

LOL and just exactly is bitcoin.  Bitcoin has zero tangible value. 

 

The bitcoin doesn't even physically exist.  Bitcoin is the ultimate in speculation.  At least Gold, soybeans, oil, etc have a tangible product and utilitarian value.  Bitcoin is worse than smoke.  At least with smoke you can see it, and smell it.  Bitcoin is an illusion, a figment of someones creation that very clever marketing has created a market and mania for it.  The only way to 'make money" with bitcoin is the greater fool.  No matter how much you pay for it, there will be a fool greater than you willing to pay more. 

Bitcoin does not and can not produce income and has zero utility in the way some commondities such as gold can be used in electronics, and jewelry.  





eToys was launched on November 3, 1997, as an Idealab company.^[2] In 1999, eToys held an IPO. Shares were issued at $20. At the end of the first day of trading, the stock closed at $76 a share.^[3] eMarketer was once quoted as saying; "Put simply, eToys is the benchmark against which all other toy sites are measured".^[

How do you make money off currencies? By going up. Greater fool?

 

Bitcoin is stored in your phone like bank account. A bank account is a number on a screen ie not real.

 

You cant store gold on a phone. Its useless as money.

 

Bitcoin is genius. Phone money, no printing.

[Sparktrader]

The only differences between BTC and fiat are 1 no money printing and 2 btc isnt backed by a gov run ponzi scheme.

[Sparktrader]

36,000

34,400

 

1600 in front

 

Not bad In 12 hrs

[lkn]

15 minutes ago, Sparktrader said:

How do you make money off currencies? By going up. Greater fool?

No certified financial advisor would recommend that you put your savings in foreign currencies to “make money”, that is just stupid. At best, it is a hedge against fluctuations if you have expenses in foreign currency.

[lkn]

1 hour ago, Sparktrader said:

Why did he pay 60,000? What reason?? I cant see any on the chart. 

You seem to say that the only thing that determines the price of bitcoin is “past chart performance”, so you agree there are no fundamentals to look at? Price is solely based on speculation about future price based on past performance, nothing else?!?

[lkn]

12 hours ago, davidst01 said:

Your statement indicates to me that you have no idea what you're talking about

Please elaborate. I think it is you who do not understand that a hardware wallet does not actually hold any coins, it holds a private key, and this private key can be stored in multiple locations, even multiple hardware wallets (most have the option to transfer an existing private key to the wallet).

 

And having your private key in a single hardware wallet is an extreme risk, it can break or be stolen. Just last week, a friend of mine got his hardware wallet stolen (break-in where all his electronics was stolen), fortunately he did have a backup stored in another location.

Edited February 24, 2022 by lkn

[Sparktrader]

5 minutes ago, lkn said:

You seem to say that the only thing that determines the price of bitcoin is “past chart performance”, so you agree there are no fundamentals to look at? Price is solely based on speculation about future price based on past performance, nothing else?!?

Speculation happens on gold, property and shares.

 

Charts describe the past in graph format. 

 

Mkt cap is the only fundamental. No eps dps sales.

 

Its currency not a share. How much is the baht v usd? Pure speculation

Both printed. Bitcoin fixed. There more valuable.

 

 

[Sparktrader]

13 minutes ago, lkn said:

No certified financial advisor would recommend that you put your savings in foreign currencies to “make money”, that is just stupid. At best, it is a hedge against fluctuations if you have expenses in foreign currency.

Most fas are useless. They recommend etfs.

 

My mate is one. He put 5,000 into a horse. Pays 300 a month in fees.

 

Rather put 5000 in btc. No training fees.

[Scott]

A reported post has been removed.  Keep it civil and on topic.

 

[sezze]

6 hours ago, Sparktrader said:

How do you make money off currencies? By going up. Greater fool?

 

Bitcoin is stored in your phone like bank account. A bank account is a number on a screen ie not real.

 

You cant store gold on a phone. Its useless as money.

 

Bitcoin is genius. Phone money, no printing.

Slight problem when war starts . You did see what happened straight away , people getting their money from ATM/bank to have something in their hands . Your phone , does not hold the bitcoin , there are offline cryptowallets , but they are not on your phone . Also , how you gonna pay when network is down ? People want to have something in their hands , a phone has a value ( low but still it has a value ) , anything which need connection has not . A gold bar/chain does have a lot of value , and does keep up with inflation in case <deleted> hits the fan .

 

[Sparktrader]

45 minutes ago, sezze said:

Slight problem when war starts . You did see what happened straight away , people getting their money from ATM/bank to have something in their hands . Your phone , does not hold the bitcoin , there are offline cryptowallets , but they are not on your phone . Also , how you gonna pay when network is down ? People want to have something in their hands , a phone has a value ( low but still it has a value ) , anything which need connection has not . A gold bar/chain does have a lot of value , and does keep up with inflation in case <deleted> hits the fan .

 

Bank networks go down

Same

38,200

34,400

 

Up 3,800

[Sparktrader]

Cant pay with gold bars. They are heavy and cost funds to store.

[Sparktrader]

Hammer

Inverted hammer

Hammer

 

Good reversal

 

34,400 to 38,300. 45,00 target next 7 days

[Sparktrader]

10% in under 24 hrs

 

 

[Sparktrader]

Free beers n chips as apology

[Sparktrader]

38,700

[Whale]

11 hours ago, Sparktrader said:

You bought at 60k? Yet you say I give bad advice?

I don't give advice. Dont mistake me with you, we are very different. 

 

[Pravda]

Polkadot to 23 cad, Bitcoin to 52,000 cad and I'm back in business.

[Sparktrader]

2 hours ago, Whale said:

I don't give advice. Dont mistake me with you, we are very different. 

 

True. I paid low prices not 60,000.

[Sparktrader]

38,800 now up 4,400

12% gain

Cooking with gas

[Longwood50]

12 hours ago, Sparktrader said:

How do you make money off currencies? By going up. Greater fool?

Yes you are correct.  Currency trading is based on one person paying more than another.  However the currencies such as the USD, Euro, and Yuan are backed by the sovereign governments.  Also they are influenced not exclusively by the "greater fool"  Changes in the country's rate of inflation, its interest rates, public debt, political stability, economic health, balance of trade and trade deficits all impact the currency value. 

Using your logic, I could open up an app, have a balance in pixels, and somehow theoretically pixels would be the same as the USD.  That is essentially what bitcoin did.  It created the perception of currency when it did not exist, and was not backed by any sovereign nation. 

Bitcoin is not influence by any of the traditional factors impacting world currencies.  Its value is strictly based on the "perception" that it has value.  A person buying bitcoin can ony make money if "a greater fool" is willing to pay more for it.   One thing is for sure, irrespective of investment.  Trees don't grow to the stars.  At some point the speculative bubble wll burst and the prices fall.  When that occurs prices plummet far far faster than they rose.  

Certainly some will make profits from trading in bitcoin.  However it is every bit as speculative as going to Vegas and putting money or Red vs. Black.  

[Sparktrader]

2 minutes ago, Longwood50 said:

Yes you are correct.  Currency trading is based on one person paying more than another.  However the currencies such as the USD, Euro, and Yuan are backed by the sovereign governments.  Also they are influenced not exclusively by the "greater fool"  Changes in the country's rate of inflation, its interest rates, public debt, political stability, economic health, balance of trade and trade deficits all impact the currency value. 

Using your logic, I could open up an app, have a balance in pixels, and somehow theoretically pixels would be the same as the USD.  That is essentially what bitcoin did.  It created the perception of currency when it did not exist, and was not backed by any sovereign nation. 

Bitcoin is not influence by any of the traditional factors impacting world currencies.  Its value is strictly based on the "perception" that it has value.  A person buying bitcoin can ony make money if "a greater fool" is willing to pay more for it.   One thing is for sure, irrespective of investment.  Trees don't grow to the stars.  At some point the speculative bubble wll burst and the prices fall.  When that occurs prices plummet far far faster than they rose.  

Certainly some will make profits from trading in bitcoin.  However it is every bit as speculative as going to Vegas and putting money or Red vs. Black.  

Fiat is based on perception. Some currencies such as Kip or Argentine peseo are worthless.

 

US goes down 3% a year. Maybe 7% now with Biden.

 

Bitcoin goes up mostly. Why cause millions like it. You not likely it wont stop it.

 

Atoms have no value, everything is perception of those atoms. Break down everything its nothing at core.

 

All perception. House is 100,000 one year 140,00 the next all perception.