100K !!!!!

SoosonSooson
in General

Bitcoin just crossed $100,000.00 for the first time ever and yes, it is still dirt cheap. Who else is excited about it? or even cares? I have kind of given up on convincing people to buy Bitcoin. not wasting energy on that anymore but 100k is a major milestone that many have been waiting for, so I think it's worth mentioning.

February 2011: $1.00
June 2011: $10.00
August 2013: $100.00
November 2013: $1,000
November 2017: $10,000
December 2024: $100,000
Next stop is $1,000.000.00

Owning nothing at all is riskier than owning some.

Plan B's Stock to Flow Chart has not been invalidated yet and has predicted these moves for years.

Comments

  • TxTomTxTom

    I'm onboard.

  • JoemammaJoemamma
    edited December 2024

    DO NOT BUY BITCOIN!

    Now is more of a time to sell than it is to buy. The time to buy Bitcoin was back in December 2022 when it was under 20k. Easy 5X return. If it went from 100k to 150k for example, you’re only 1.5X-ing your money. The bear market will get here at some point, how soon exactly I don’t know, but if you don’t take profits now or soon, you are going to get rekt.

    Also wanted to share some wise words from Warren Buffett: be greedy when others are fearful, and fearful when others are greedy.

  • IneedahugortwoIneedahugortwo

    That’s amazing Congratulations! I need to get onboard.

  • SoosonSooson

    @Joemamma Despite multiple 80% corrections over the years, here we are. Volatility is the price of return.
    Most fail miserably at timing so for them time in the market, rather than timing the market, is the way to go.
    I trade ALTs but holding on to BTC and ETH. All my coins now on KYC exchanges and I don't need to complicate my tax returns (Taxes require timing in and out of positions to be even more precise and therefore potentially less lucrative.

    Buy in increments (the pros call it DCA) and buy even more when it dips. No one who held for at least 4 years is in the red.

    @Ineedahugortwo Yes you do! And when it dips, buy more.

  • JoemammaJoemamma

    I learned my lesson from the last bull run when I didn’t sell. It was a brutal bear market for a couple years, but I did DCA down in increments, looking for any opportunity to lower my DCA. Despite all I’ve been through and the mistakes I’ve made, I’ve made a good chunk of money. 100k is definitely a hell of a milestone though.

  • [Deleted User]WriterGF (deleted user)

    No interest. My ex got scammed out of a lot of money investing in it.

  • SoosonSooson

    @WriterGF The network is so secured it was never hacked once since inception and not one red cent worth of Bitcoin was stolen off of there. With every transaction the network gets more and more secured. Falling prey to scammers is not unique to bitcoin and is not to be blamed on Bitcoin. Back in the early days it was a bit more complicated to purchase and store so I suspect scammers would con people to send them money and let them manage the purchase and the storage for them.

  • CuddleDuncanCuddleDuncan Mod

    This is not investment advice, which I am not qualified to give. (Although I was once, in certain contexts.) It's just common sense. These comments apply to all cryptocurrency, and indeed much else besides. I have no view either way on buying bitcoin: it depends entirely on individual circumstances. Other than a small gamble for a bit of fun, it is unsuitable for most ordinary people due to the high risk, low regulation, lack of return, and prevalence of criminals in the industry.

    I do not understand how bitcoin works and unless you've looked at the source code, neither do you.

    1) Bitcoin is not an investment. It does not produce a return.

    2) If you buy £1,000 of bitcoin, and a year later it is worth £1,000, you haven't broken even: you have lost money. If you don't understand why, you would be foolish to buy bitcoin.

    3) Past performance is not a guide to the future.

    4) Bitcoin is a pyramid scheme. The question for you is, does that matter? If you don't understand how a pyramid scheme works, you would be foolish to buy bitcoin.

    5) Bitcoin exhibits the characteristics of a classic financial bubble. Such bubbles attract scammers. Bitcoin is not intrinsically dishonest, but quite a lot of the people trying to sell it to you are. Be very careful and do your homework properly.

    6) Conventional wisdom in the investment world is, 'If it's being advertised on the telly; sell.'

    7) Past performance is not a guide to the future.

    8) If your bitcoin holding is significant, it should be in multiple wallets in multiple places. The world's landfill sites are littered with laptops with X million in bitcoin on them.

    9) Short term trading in bitcoin (or anything) is a highly skilled job. Quite a lot of it is done by computers. A ordinary person cannot make money by this method except by sheer good luck: you are in fact the means by which the professionals make money. If you are determined to do it, consider it an entertainment expense. (It can be quite fun.)

    10) Four years does sound reasonable as a minimum time horizon for bitcoin. In other words, if you buy it don't even look at the price for a minimum of four years.

    11) Don't even consider bitcoin unless you have already filled all the tax efficient savings schemes for small investors in your country. These often include pension plans.

    12) Past performance is not a guide to the future.

    13) For larger investors, a small or modest bitcoin holding could be considered a useful hedge against some of the risks of conventional money.

    14) Bitcoin requires a great deal of electricity. You may or may not wish to consider that factor as part of your decision.

    15) If you are considering bitcoin, you should also be considering other similar no-return assets such as fine art, classic cars, or wine. One of bitcoin's advantages against these is that it is relatively cheap to maintain.

    16) 100k is a milestone only if you worship at the altar of base 10 which, unfortunately, many people do. It has no intrinsic meaning.

    17) Past performance is not a guide to the future.

    18) Bitcoin is not intrinsically criminal and does not appear to have been created for criminal purposes. However its characteristics make it very useful for criminals and a high proportion of transactions are crime-related.

    19) The value of bitcoin could go to zero tomorrow. The value of a balanced stock portfolio cannot: or rather, if it does it will be the least of your concerns. Don't put money into bitcoin you can't afford to lose.

    20) Past performance is not a guide to the future. (Have I mentioned that already?)

  • Erin_Elle_Erin_Elle_

    Bitcoin just crossed $100,000.00 for the first time ever and yes, it is still dirt cheap.

    @Sooson Cool! I’m interested! 🙏💕🤑

  • SoosonSooson

    @CuddleDuncan Some good comments here but NOTHING that should be a reason not to buy bitcoin. And also a lot of falsehoods and the same old FUD talking points since bitcoin was trading at around $3,000.00, many of which have already been proven false and have been refuted by people who understand Bitcoin better than you and me: Michael Saylor, Gregg Foss, Jeff Booth, Max Keiser and last but not least, the GOAT, the one and only Davinci j15.

    Bitcoin does not need regulation. What regulation do you need and why? The network regulates itself. The network is safe and secured and never been hacked. Don't use others to "help" you buy bitcoin and you'll be fine. buy it yourself and store it yourself.
    Bitcoin is different than other Crypto. It is one of the very few truly decentralized networks. Do you know the difference between Proof of work and Proof of Stake? If you consider Bitcoin a store of value, an insurance policy against the debasement of Fiat, I'm not sure why the size of the portfolio matters here. it's all about percentage. and again, it seems riskier to not own any at all than to own at least a little bit. Study your history, every Fiat inflates and eventually becomes worthless. Bitcoin cannot be inflated and will keep increasing in value against all Fiat.

    and prevalence of criminals in the industry.
    Bitcoin is not intrinsically criminal and does not appear to have been created for criminal purposes. However, its characteristics make it very useful for criminals and a high proportion of transactions are crime related.

    not a valid reason not to buy Bitcoin. Also, what is your source showing that more crime is committed using Bitcoin than Fiat?

    Criminals use Fiat money - Should we stop using Fiat?
    Criminals use our roads and Highways - Should we stop driving?
    Criminals use our cellular networks - Should we stop using cell phones?
    People offer sex and solicit sex on Cuddle Comfort - Should we stop booking cuddles and stop meeting cuddlers on Cuddle Comfort?

    If you buy £1,000 of bitcoin, and a year later it is worth £1,000, you haven't broken even: you have lost money. If you don't understand why, you would be foolish to buy bitcoin.

    Short term trading in bitcoin (or anything) is a highly skilled job. Quite a lot of it is done by computers. A ordinary person cannot make money by this method except by sheer good luck: you are in fact the means by which the professionals make money. If you are determined to do it, consider it an entertainment expense. (It can be quite fun.)

    Past performance is not a guide to the future.

    None of the above is unique to Bitcoin.

    14) Bitcoin requires a great deal of electricity. You may or may not wish to consider that factor as part of your decision.

    This only applies to mining and nothing else. If your ESG score card is what's important to you, there are plenty of other things you shouldn't be doing so let's not be selective.

    I do not understand how bitcoin works and unless you've looked at the source code, neither do you.

    You know just about as much about the ins and outs of your phone, your TV, your car. your PCs operating system. what is the point here?

    Bitcoin is a pyramid scheme. The question for you is, does that matter? If you don't understand how a pyramid scheme works, you would be foolish to buy bitcoin.

    If that was the case, it would have been over a long time ago.

    11) Don't even consider bitcoin unless you have already filled all the tax efficient savings schemes for small investors in your country. These often include pension plans.

    What exactly are you talking about here? I Seriously want to understand. I'm not being sarcastic.

  • SoosonSooson

    @Erin_Elle_ Ignore the FUD and dive in. (you have to start at some point). and when it drops buy more. don't worry about timing since only few can master it. buy in increments and use money you can live without. I operate under the assumption that my whole Crypto Portfolio will be worth Zero one day, though as time goes by it seems less and less likely to be the case.

    Crypto Dad on YouTube is great for beginners, but if you have any questions feel free to ask. Kraken and Coinbase are relatively easy to use.

    @TxTom you better be on board!

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