[QUOTE=RocketSnail;52998181]Investments should be a regular thing. People should consider taking 10% of their paycheck and throwing it directly into an investment. If you're young, it may be worth it to throw your entire 10% into Bitcoin every paycheck. As you get older, you'd best diversify with safer investments such as mutual funds, 401ks, roth iras, and discounted employee stock purchase plans. I suggest mutual funds instead of throwing $$ into individual stocks because most people don't have the time and expertise to be their own financial advisors. Mutual funds have experts constantly doing this work for you, and while you do owe them a cut of your gains, it is WELL worth it (look up performance graphs of any popular fund). Employee stock purchase plans are a different thing because you get crazy discounts (like 10% discount) and your company will often sell the stock to you at the lowest price the stock has been at in any given month.
If you make more $$, it may be worth throwing something like 40% of your paycheck into your investments. Make sure you can still have a life and have some hobbies tho[/QUOTE]
Well yeah, absolutely. I keep forgetting there are other investments than securities and cryptocurrencies, so things like a 401k should be paid into at a bare minimum. I speak mostly about crypto when I say don't invest what you aren't willing to lose especially due to the huge volatility.
[QUOTE=Matoking;52997407]The last time the price had dropped to the lowest point after the bubble burst, the Bitcoin subreddit had a suicide hotline number in the top post in the front page.
Not investment advice, just pointing this out.[/QUOTE]
[IMG]https://puu.sh/yM0dB/7d826b00bc.jpg[/IMG]
Woah what a rebound, especially ripple and komodo. I just wish I didn't buy more ripple and stellar before it crashed and waited until after. But hopefully in the long run it pays off
crypto right now
[video]https://youtu.be/oIscL-Bjsq4[/video]
[QUOTE=Splash Attack;52997715]I honestly wouldn't touch any crypto with a 10 foot pole right now. The market is so all over the place that I would rather wait until things settle back down before I buy anything again. I'd give it a few months or longer until things finally settle and then trade when things aren't so volatile. Fast forward to like 2-3 years down the line where it might spike like this again and sell everything, repeat.
This cycle has happened at least 2-3 times before, when crypto gets more popular.[/QUOTE]
people tell you to buy the dip and here is the dip, and now people are too scared to buy.
there is no reward that isn't preceded by risk
BIZ is basically done for now, half of its population along with reddits sub is going to end it.
[img]https://files.catbox.moe/zawnaw.jpg[/img]
[QUOTE=Dave_Parker;52999654]All this panic is rather stupid. If you're day trading then it should've hit your stoploss, and if you're holding for the long term then you buy the dip to average down or do nothing. If you bought at 19k and then panic sold at 13 then I guess you just learned a valuable (literally) lesson on investing.[/QUOTE]
this makes so much sense, but coming from your average joe (ie idiot), this shit never even occurred to me. I never even knew it was possible to set up sell orders in advance, and above the price I purchased at would have been a smart move. I had no idea how sell orders worked and the thought of setting one as a failsafe flew right over my head.
I'm sure there are loads of others out there like me. buy into cryptocurrency thinking it's an easy way to make money with literally zero knowledge of how this shit works.
I wish I was smart enough to have thought of setting up a stoploss.
Is it worth getting into crypto or have I missed the train?
I wouldn't be investing thousands, just bits off of my pay every now and then.
I've done a bit of research, but I was wondering if anyone more experienced than I am would recommend attempting to enter the market at this point in time, or if I should just try and invest in stocks or something.
[QUOTE=kobalt;52999713]Is it worth getting into crypto or have I missed the train?
I wouldn't be investing thousands, just bits off of my pay every now and then.
I've done a bit of research, but I was wondering if anyone more experienced than I am would recommend attempting to enter the market at this point in time, or if I should just try and invest in stocks or something.[/QUOTE]
If you're having to ask facepunch and aren't willing to research how it works yourself before doing some high-risk gambling then no. Do something traditional like a 401(k) at that point.
Why does this board not have a crypto section yet? Does it get discussed so rarely?
[QUOTE=kobalt;52999713]Is it worth getting into crypto or have I missed the train?
I wouldn't be investing thousands, just bits off of my pay every now and then.
I've done a bit of research, but I was wondering if anyone more experienced than I am would recommend attempting to enter the market at this point in time, or if I should just try and invest in stocks or something.[/QUOTE]
Invest in Ripple, the future of cryptocurrency
[QUOTE=kobalt;52999713]Is it worth getting into crypto or have I missed the train?
I wouldn't be investing thousands, just bits off of my pay every now and then.
I've done a bit of research, but I was wondering if anyone more experienced than I am would recommend attempting to enter the market at this point in time, or if I should just try and invest in stocks or something.[/QUOTE]
Investments are a long term thing. The time to invest in bitcoin and other high risk investments is when you're young. As you get older, you want to start seriously investing in lower risk investments.
100% of my investments goes into bitcoin as I am in college right now. You bet that once I graduate and start working full time, that the amount of bitcoin that I will be investing in will be less than 25% of what I'm doing right now.
[QUOTE=GiggityGoo;53000075]Why does this board not have a crypto section yet? Does it get discussed so rarely?[/QUOTE]
My best assumption is that author of thread must be well educated on subject before creating General/Mega thread.
With crypto - it's a bit hard to be expert at it and my best guess is that nobody wants to take on responsibility of it.
[QUOTE=RocketSnail;53000101]Investments are a long term thing. The time to invest in bitcoin and other high risk investments is when you're young. As you get older, you want to start seriously investing in lower risk investments.
100% of my investments goes into bitcoin as I am in college right now. You bet that once I graduate and start working full time, that the amount of bitcoin that I will be investing in will be less than 25% of what I'm doing right now.[/QUOTE]
I am sorry, but this is a really bad idea and you shouldn't do this, especially if you are young. You aren't diversifying at all, so should at any point Bitcoin crash and not recover, you are fucked and wasted everything. There's no guarantee at all that Bitcoin is going to keep climbing after a crash, just because it did so in the last years.
A much better and safer option is doing something like what we call here a "pantoffel portfolio" (no idea what it is called in English), which is basically a 50:50 mix of pension funds for security and ETF funds based on the world index for profitablity. You can keep that for ten or more years without worrying about losing money. If you still want more risk, just invest more in ETF funds and less in pension funds. Still much safer than betting everything on Bitcoin.
[QUOTE=NoOneKnowsMe;53000124]I am sorry, but this is a really bad idea and you shouldn't do this, especially if you are young. You aren't diversifying at all, so should at any point Bitcoin crash and not recover, you are fucked and wasted everything. There's no guarantee at all that Bitcoin is going to keep climbing after a crash, just because it did so in the last years.
A much better and safer option is doing something like what we call here a "pantoffel portfolio" (no idea what it is called in English), which is basically a 50:50 mix of pension funds for security and etf funds based on the world index for profitablity. You can keep that for ten or more years without worrying about losing money. If you still want more risk, just invest more in etf funds and less in pension funds. Still much safer than betting everything on Bitcoin.[/QUOTE]
I am under 25. Investing 10% of my paycheck into bitcoin isn't a "really bad idea". Risky investments are done when you are young, because you have more time between that age and when you retire.
Perhaps I don't understand your idea of investing in bitcoin being a "really bad idea". I could literally be throwing 10% of my paycheck into the garbage every week. Either bitcoin will remain stable, crash, or skyrocket, and that doesn't matter much because at this point in my life it is $20 a week that I am putting into bitcoin.
OTOH, once I am out of college and in a full-time job, my contributions to bitcoin investments will be less than 25% of what they are now, or less than 2.5% of my paychecks, as I begin contributing to my 401k, Roth IRA, employee stock purchase plan, and private mutual funds. That less than 2.5% bitcoin contribution will be even shrinking each year as I become older.
It's 100% fine to invest in risky stocks when you're young, and at this point in my college career I can afford $20 a week to gamble in bitcoin..
[B]edit:[/B]
i think I understand your idea a little better now. In no way/shape/form am I trying to convey bitcoin as something that is a lifelong investment. It is a risky investment and that means if one is going to gamble a large portion of their paycheck with it, it should be done when they are young
[QUOTE=NoOneKnowsMe;53000124]A much better and safer option is doing something like what we call here a "pantoffel portfolio" (no idea what it is called in English), which is basically a 50:50 mix of pension funds for security and ETF funds based on the world index for profitablity. You can keep that for ten or more years without worrying about losing money. If you still want more risk, just invest more in ETF funds and less in pension funds. Still much safer than betting everything on Bitcoin.[/QUOTE]
Enjoy your 3% annual returns, gramps. I'll think of you as I close this year with ~4700% profits.
Take the risks while you're still young, folks. This is too lucrative an opportunty to pass up just because you're an unimaginative baby boomer who is afraid to admit traditional markets may not be the only, or the best way to carve something for yourself in this modern day and age.
Young is when you fuck up, it's how you build experience, grow a thick skin. Whether or not you genuinely care about the use cases of the utility projects that are now growing out of the cryptosphere (hint: you probably should), at least do yourself the favour of getting your feet wet and seeing where this train goes.
That being said, I personally haven't bought BTC since the price was 2400 - it's just too high for my liking. But I remind you there are 1000+ cryptos besides BTC...
[QUOTE=RocketSnail;53000145]I am under 25. Investing 10% of my paycheck into bitcoin isn't a "really bad idea". Risky investments are done when you are young, because you have more time between that age and when you retire.
Perhaps I don't understand your idea of investing in bitcoin being a "really bad idea". I could literally be throwing 10% of my paycheck into the garbage every week. Either bitcoin will remain stable, crash, or skyrocket, and that doesn't matter much because at this point in my life it is $20 a week that I am putting into bitcoin.
OTOH, once I am out of college and in a full-time job, my contributions to bitcoin investments will be less than 25% of what they are now, or less than 2.5% of my paychecks, as I begin contributing to my 401k, Roth IRA, employee stock purchase plan, and private mutual funds. That less than 2.5% bitcoin contribution will be even shrinking each year as I become older.
It's 100% fine to invest in risky stocks when you're young, and at this point in my college career I can afford $20 a week to gamble in bitcoin..
[B]edit:[/B]
i think I understand your idea a little better now. In no way/shape/form am I trying to convey bitcoin as something that is a lifelong investment. It is a risky investment and that means if one is going to gamble a large portion of their paycheck with it, it should be done when they are young[/QUOTE]
Investing in general should be done when you are young (bitcoin, stocks, etc). If you really are planning to take the long route, then getting in as early as possible gives you the greatest returns later.
[editline]23rd December 2017[/editline]
It's also quite literally taking advantage of inflation since you're putting your stagnant value dollars into something that's value rises with inflation.
[editline]23rd December 2017[/editline]
Rather, the value stays the same and the price increases, should probably clarify that before Lurker creams his pants in rage
Invest while young. Invest as soon as you can. Learn all you can first.
I got .15btc back at the tail end of the first spike 3 years ago when it was $700, then 1eth when it was $6 after failing to setup my old computer for eth mining, then 2ltc when they were $25.
I am practicing low effort hodling until my bitcoin balance hits 5k or my wedding in august, whichever comes first. Then im going to wisconsin dells on a bitcoin fueled honeymoon.
[editline]23rd December 2017[/editline]
Ill probably hang on to the eth and ltc though
[QUOTE=OvB;53000335]Invest while young. Invest as soon as you can. Learn all you can first.[/QUOTE]
Invest while young [I]if possible[/I]. Do not eschew paying down debts to invest, since many debts will accrue interest faster than you're likely to make money in investments on average. Paying down a debt with high interest is an investment with [I]guaranteed[/I] returns at that interest rate.
So yes, invest as soon as possible, once your financial house is in order.
[QUOTE=JohnnyMo1;53000388]Invest while young [I]if possible[/I]. Do not eschew paying down debts to invest, since many debts will accrue interest faster than you're likely to make money in investments on average. Paying down a debt with high interest is an investment with [I]guaranteed[/I] returns at that interest rate.
So yes, invest as soon as possible, once your financial house is in order.[/QUOTE]
Well yeah, everyone's situation is going to be different. There's no one-size-fits-all method to investing. That's why you need to learn all you can first. Not only about investing but personal finance in general.
[url]https://www.investopedia.com/articles/pf/08/invest-reduce-debt.asp?lgl=myfinance-layout-no-ads[/url]
I have been talking with my parents about setting up a meeting with their financial adviser they have been using since the 90's. I highly suggest looking for professional opinions considering it's their job to follow financial news and trends 40-60 hours a week compared to your 1 hour a day research. While I have invested early, I am ready to let him take the wheel from here and manage it for me because the more I try learning about cryptos or stocks, the more I realize I will never catch up in understanding just by looking online. I will still enjoy learning about stocks and cryptos casually, I just wont be constantly stressed if I made the right move or not.
I always wanted to get into stocks but entry point is rather high (most places require minimum of 800-1000 EUR deposit to get into) while crypto market is as low as whatever 0.01 ETH costs.
Hopefully some day I can sell all my alt coins (maybe even with profit) and switch to stock market instead which feels more stable/predictable.
title should've been "buy high sell low"
[QUOTE=elitehakor;53000598]title should've been "buy high sell low"[/QUOTE]
"Oh shit oh shit were going to be poor"
[QUOTE=Cpn Crunch21;53000416]I have been talking with my parents about setting up a meeting with their financial adviser they have been using since the 90's. I highly suggest looking for professional opinions considering it's their job to follow financial news and trends 40-60 hours a week compared to your 1 hour a day research. While I have invested early, I am ready to let him take the wheel from here and manage it for me because the more I try learning about cryptos or stocks, the more I realize I will never catch up in understanding just by looking online. I will still enjoy learning about stocks and cryptos casually, I just wont be constantly stressed if I made the right move or not.[/QUOTE]
hell know even less than you
[QUOTE=thejjokerr;53000361]I really hate crypto exchanges, so much that can go wrong in their system.
Poloniex proving that by 350$ worth of crypto just disappearing upon withdrawal but marked as completed on Polo (it's not showing up in any block explorer for the crypto)
I'm hoping Polo can fix this for me, but I'm counting on the worst...[/QUOTE]
Polo held 2 BTC in limbo (this was at $2700/btc) for 2 months and I was livid. I was convinced they had stolen them and were doing a large exit scam.
Eventually got them out... but lesson learned: stay the fuck away from Poloniex.
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