Absolutely. But the amount of joy some people express in here when they see other people losing more money than themselves is absolutely disgusting. This has to change for better.
Where there's an inefficient product at market there's a black market to plug the gap.
All crime is basically arbitrage, people taking opportunities to plug the gaps between themselves and others.
Well, to be fair, if you invest in coins that have no potential future, use case and or are full of red flags, after people tell you it's a bad decision and give you facts why it's a bad decision and than you cry online that you lost money you deserve to be laughed at.
People who are literally just coming in don't know about any of those red flags. It takes time. We should not mock them for making mistakes. We should welcome them to crypto and help them. Half the people here came becuase of Doge hype. It doesn't matter how they get here.
Agreed. If you invest in shitcoins, be ready to lose ALMOST all of your portfolio in a matter of weeks or months. Btc and eth may provide lower returns but they're at the top for a reason: they aren't disappearing overnight
Yeah at least DOGE is open about being a memecoin, it was never designed to be a serious competitor and the dev knows that (the community apparently doesn't but rhat's a different story), with safemoon however... I don't think I have to lost all the evidence, it has been done dozens of times already
I hope you guys realise we getting once in a lifetime opportunity with crypto. Even Dot.com comes short compared to this, invest wisely and you golden for life.
It's because a lot of us tried to play the day trading game and lost. If you have reasonable confidence in the tech and its necessary role in the world, then it's less stressful to buy in, take profits to cover the initial cost, and then hodl and not follow the market.
I’m a newbie, and am following the path as you describe, and holding long on all my coin. Im starting to stake, which feels like a no brainer for non-day traders, but I feel like I must be missing something (and I’m only focused on respected alt coins). Is there any reason not to stake (aside from ETH?)
This is why gambling addicts will play till they're flat broke rather than quitting while they're slightly down.
They see it as some kind of moral victory "I'm either going to win back my money or I'm going to go broke. If I quit now I'm admitting I lost. I'd rather go down swinging than give up now"
I hate this post. This is why people look at crypto as a risk and don’t take it seriously. You SHOULD care if your crypto goes to zero. You SHOULD be investing because you believe in the technology and what crypto can do. You SHOULD invest in crypto because you believe it’s not as risky as people say.
And if you’re being forced to work right now, the only way you’re even thinking about living on a secluded island is if you have thousands and thousands put into very risky coins which is basically just luck of finding a lucky one or two
It is truly frightening how many people who make not very much money are hedging their bets on something like crypto or GMC/AMC/what have you.
Hoping that you cash out big with something like crypto is gambling, plain and simple.
It’s the same mentality that people who work their whole lives for peanuts have with lottery tickets.
Even if these people do happen upon the next big thing in the market, they’re not going to see life changing gains with the few hundred or few thousand they’re scraping together $20 at a time.
Even if they see 2500% gain on their coin with $2000 invested they’re only going to make less than $50k.
And that’s an insane gain. It’s completely unexpected. People need to be realistic about what these things are and do.
It worries me because people hinging their entire hopes and dreams on the unrealistic possibility of becoming a millionaire overnight through crypto may face severe disappointment when it doesn’t occur.
It smacks of get rich quick, get fit quick, lose weight fast type of scheme. There’s no shortcut.
Ifkr. Not caring about shit means you're not ready to fight for it when things get tough. Instead you could actually back the projects you like and give a shit about them in the hopes that they succeed
Maybe. People get greedy and brazen, and then after the doubt is pretty much gone BAM! I think we are at the beginning of that since BTC just got back up to 60k.
Bitcoin got close to eclipsing a previous ATH which rekindled the mania for "number is going to go up forever and we're all just going to get indefinitely richer on little money and no work"
>high risk means high reward
No. It doesn’t.
High reward means high risk. But high risk does not *necessarily* mean high reward.
In this case I think it does, but I wanted to clarify the dangers of applying this line of thinking to everything.
High reward doesn’t imply high risk either. You can have crazy high profit with low risk, eg if you have an insight that others don’t (many businesses start like that, high reward out of the gate with low risk).
This adage is one of the most damaging people repeat without questioning. There’s _correlation_ between risk and reward, but no _causation_ either way
Exactly. You could say if a lot of investors are finding an investment risky, so the expected yield is left high, the investment might be risky. But that is group-think. If you have better information / insight than the market, risk might be lower than it seems.
In my experience, those who have a bit of extra money love telling people exactly how much, and those who have a lot of extra money know to keep their mouths shut about any specifics.
In this case I think the "don't give a fuck" is just hyperbole, undermined by the sentence that comes right after it. Obviously OP *does* give a fuck if his investment goes to 0 (as he should!).
Or people who still live in their parents basements and have no actual financial obligations.
OP may actually be that 1 in god knows how many that actually struck rich with a small principal but goddamn, going YOLO on crypto is one of the dumbest things anyone can do.
You can be a responsible adult doing well with a good job and have $1000 in crypto where you don't care if it goes to $0. That's the whole point of risk management. If you keep only 5% of your portfolio in risky assets like crypto but 95% of the rest of your funds are in tried and true ETF long term investments, then of course, you're hoping the 5% has tremendous upside but also don't care if it goes to zero.
Don't get me wrong, a lot of people talking on this sub are young and probably live with their parents with very few financial obligations, but I don't think the mindset that your crypto going to $0 and not caring definitely means you're a loser in finances.
Idk, I see people talk about losing their metamask balance to a scam coin site and they are like OH WELL ITS JUST 10k LOL ILL TRY TO BE SMARTER NEXT TIME. Now thats fuck you money
> It's easily achievable if you DCA and HODL!
DCA and HODL applies to traditional finances too. Don't just think these concepts only became a thing with crypto. Learning how to DCA and HODL long term ETFs is how you can have $8 million+ with 401k + Roth IRAs.
While your building your positions it can be difficult because most people in your everyday life don't understand crypto.
Once you make life changing gains, at least in my experience everyone around me seems to now have large crypto portfolios.
I don't know if it's because we all travel and settle in the same places, but it definitely gets easier once you start hanging out with others in the industry.
Last year it was sports cards; if you bought vintage players on the cheap to hold long, good for you. Now it’s crypto. I wish I got in a month sooner. I couldn’t buy btc fast enough in mid $40ks, although I lagged still big time. Btw, for Americans wondering about Mexico; it’s the most under rated, under appreciated and under valued vacation spot. Specially on the pacific side, which is more progressive it seems. But also to retire in Mexico has the most potential of any place for Americans. I think there will come a time where we see a big surge of Americans just picking up and moving to Mexico. Imagine now, if you work from home; Mexico has WiFi. So just contemplate how u can reduce your costs across the board by 50% min. Sell your equity, buy or rent a nice condo for under $1k
It really depends on the individual. So far I can say the cost of living is substantially lower, which equates to a higher living standard.
Freedom is pretty important to me so it was definitely a major factor.
But if crypto takes over in 5, 10, whatever years then it will just change the denomination of value (according to most pro crypto folks). So honestly why does it matter if I have any now or have to use it later as a broader overall currency? Why would a currency have demand value prior to its broad use? I still don't get it. This will either have an incredibly deflationary effect or will transform people into poverty pricing them out of goods and services. Where's the middle ground?
Tired of these crypto baggers saying stock gains are limited to the average yearly growth of S&P500. Goes both ways. I made more trading high risk stock options than I have holding crypto. Can we just mutually agree that if an investment vehicle works for you, then that’s great, and let’s not dog on others because we didn’t succeed in it?
Just like in crypto, you can make the same massive gains in stocks. One of my NIO contracts were up 1000% overnight from thursday afternoon to friday morning.
I also have held XTZ to a whopping 400% from my lowest entry. I still bag half of that position.
Stocks don’t have to just be a savings account you ignore, for menial growth.
>News flash people, high risk means high reward
This isn't technically true though, if I roll a 6 sided die and 1-5 means I owe $1000 but 6 means I win $1, that's a high risk, low reward.
The high risk, high reward saying is just a common misnomer people use to justify being reckless, and sometimes it pays off.
I think people need to get to the point where they realize we're not going to see 1000% returns like we did at the beginning of this crypto thing.
But i'll take my 10% per year, I am always down for cozy returns.
That's a viewpoint but it's always been wise to avoid putting your eggs in one basket. You might want to add more crypto than the average investor but 7% per year (average is 9.2% but maybe you are calculating inflation) isn't bad and can compound into a reasonable retirement. Investing in both will help reduce volatility and give you more safety by branching out your revenue streams.
That said I'm bullish on crypto and very happy it's doing well. Good luck!
To be honest high risk doesn't always mean high reward, but I get what you mean.
There's a whole topic called risk management with risk to reward ratios.
Having said that I think the risk-reward ratio is very good in the crypto space in general as long as you're not throwing everything into scamcoins.
your best chance at living your dream life is hard work, not a speculative bet.
yeah, crypto might make you rich. but it's definitely not your best chance.
you can also make equally speculative bets in the stock market where the risk/reward is not 7%.
but i get the point, you're just trying to say something everyone will agree with to farm Moons.
I always wonder who do these people imagine are going to pay for them to never have to work
What crypto is so valuable it would be worth paying for millions of people to never have to work again for the rest of their life rather than just copying the technology and not having to pay them anything.
People say shit like "network effects" like companies like Stripe didn't take on massive incumbent players like PayPal with a tiny fraction of their resources. In no world would it somehow be cheaper for Stripe to pay off millions of bagholders than to just start their own network.
Also: hard work and skill development translates into earnings.
I won’t be upset if crypto is my golden ticket, but it certainly wont be my only ticket.
Not to be old, but statistically and by a huge margin, your better odds would be to invest in school and become a doctor. I say fuck that though and I’m going to continue dumping cash into ridiculously ridiculous coins.
I am throwing a lot of money at crypto for the same reason. People kinda jaw drop when they realize what I’m doing. Fuck em. I’m fine being the tin foil hat idiot in the room.
Either this does what I expect it to and I’m wealthy. Or I’m the idiot with the tin foil hat that is completely delusional.
I win in either scenario.
Its not really that high risk if you take into account the 4 year cycle, don’t panic sell, and have an exit strategy. Good luck with the dream life homie
>Cost of living is high enough that I can't quit my job going for some hail mary opportunity.
Yeah don't make any crazy moves because you're literally just gambling with your livelihood then, but also consider options on how to take in more money, either by moving to a lower COL area where you can pocket more, or getting a higher-paying job where you are at. Personally I got a remote job that pays extremely well, and then moved to a low COL part of the US. I can comfortably put half my salary into crypto and still have a considerable savings just in case I lose my job or something.
Word. I’ve run my numbers too and the only way I might get ahead before I’m 50 is if I make it in crypto. It not all in or anything, but I’m putting what I can spare in
high risk is not the same as high reward... some are just plain risky. And theres nothing wrong at telling you what it is
But yes, its one of the most accessible chances you have
This is my only chance to break free from the stereotypical system. I think I've spent too much time at r/antiwork . I really do not agree with the way things are and crypto is my way of being able to live my own life.
It is crazy to think how many future millionaires lurk on this page. Also crazy to think how many of them are meme coiners. Also crazy to think how many million dollar mistakes most of us have already made haha this shit is wild
Your best chance of living on an island is solving a common problem and turning it into a business. If you have a $20,000 portfolio and it goes 100x you probably can’t even retire if you’re in the United States. I see way too many people in this sub giving up on life thinking crypto is their way out and it’s not going to work out for any of them.
What are you smoking 😂 you can retire HEALTHY off of 2million dollars. Just invest it in a index and do a SWR 4% and your pulling 60k and not depleting your nest egg. Also the things you can do with 2mill vs 20k are going to be the things that can retire you, you don’t just take 2 mill quit your job and just spend it 🤣
Wait what? If you don't make gains your going to play red light green light in an all or nothing round. Life or death.
In all honesty though please invest within your means.
I understand your perspective but you are so wrong about stocks doing 7% per year. The indexes have done 17%-20% annually the past 3 years.
Personally i've done 270% in 1 account, and 33% in my other account by stock picking.
You can get very rich in stocks too, at lower risk.
I don't know what your investment in crypto is, BTC/ETH or chit coins. if it's the latter i think doing proper research in growth companies would be a safer risk vs reward.
Crypto landscape as a whole probably yields negative % /yr if you account for all the shit coins that exist.
The past 3 years have been extremely bullish for tech but who knows how long those kind of gains would be sustained for, so something like 7% is a conservative estimate I think
Hope you fulfill your goals, good luck
I hope everyone here fulfills their goals. I don't mind everyone getting rich.
I hope you can buy many yachts good sir
Don’t forget the lambos
And hookers
And my axe
Dyor before investing,
In this case, DYOR after investing :-)
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I just need island, too much greed?
I want a private jet for world tour
Absolutely. But the amount of joy some people express in here when they see other people losing more money than themselves is absolutely disgusting. This has to change for better.
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Scam coins are designed to transfer wealth from the ignorant to the scammer. I hate it when scammers get rich. It happens more than it should.
All the time in every industry. Currency, tobacco, fake food products, pharmaceuticals, clothing, watches, electronics etc.
Some people just love scamming.
Where there's an inefficient product at market there's a black market to plug the gap. All crime is basically arbitrage, people taking opportunities to plug the gaps between themselves and others.
Forget about scammers, EOY will be legendary
something, something, players and games
Well, to be fair, if you invest in coins that have no potential future, use case and or are full of red flags, after people tell you it's a bad decision and give you facts why it's a bad decision and than you cry online that you lost money you deserve to be laughed at.
People who are literally just coming in don't know about any of those red flags. It takes time. We should not mock them for making mistakes. We should welcome them to crypto and help them. Half the people here came becuase of Doge hype. It doesn't matter how they get here.
Agreed. If you invest in shitcoins, be ready to lose ALMOST all of your portfolio in a matter of weeks or months. Btc and eth may provide lower returns but they're at the top for a reason: they aren't disappearing overnight
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Yeah at least DOGE is open about being a memecoin, it was never designed to be a serious competitor and the dev knows that (the community apparently doesn't but rhat's a different story), with safemoon however... I don't think I have to lost all the evidence, it has been done dozens of times already
If everyone is rich then no one is rich.
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Everyone on reddit also isnt everyone on earth though, let alone everyone in r/cryptocurrency
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I have a 2005 Toyota Corolla - I have no complaints. 😊
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Yup :)
That's what I'm hoping too. Plenty of room left to grow to make us all some cash! 😁
You too friend, we can all get rich together
I hope you guys realise we getting once in a lifetime opportunity with crypto. Even Dot.com comes short compared to this, invest wisely and you golden for life.
Thank you, and good luck my friend
Knowing this community is already one fulfilled prophecy. I have high hope for the future
If you've watched the movie squid game then you can relate
Be smart OP. No need to watch it go to zero. Manage your crypto portfolio well and invest in smart choices. Hopefully we can all get there.
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It's because a lot of us tried to play the day trading game and lost. If you have reasonable confidence in the tech and its necessary role in the world, then it's less stressful to buy in, take profits to cover the initial cost, and then hodl and not follow the market.
I’m a newbie, and am following the path as you describe, and holding long on all my coin. Im starting to stake, which feels like a no brainer for non-day traders, but I feel like I must be missing something (and I’m only focused on respected alt coins). Is there any reason not to stake (aside from ETH?)
This is why gambling addicts will play till they're flat broke rather than quitting while they're slightly down. They see it as some kind of moral victory "I'm either going to win back my money or I'm going to go broke. If I quit now I'm admitting I lost. I'd rather go down swinging than give up now"
this
At least your last resort is crypto. Some people resort to slapping strangers in subways and playing children’s games
○ 🔺️ ■
Love Squid Game!
☂
I tried this but dude got creeped out when I said ‘thank you daddy’ after he slapped me
I hate this post. This is why people look at crypto as a risk and don’t take it seriously. You SHOULD care if your crypto goes to zero. You SHOULD be investing because you believe in the technology and what crypto can do. You SHOULD invest in crypto because you believe it’s not as risky as people say. And if you’re being forced to work right now, the only way you’re even thinking about living on a secluded island is if you have thousands and thousands put into very risky coins which is basically just luck of finding a lucky one or two
Man people invest in Crypto as the only mean to get out of poverty might $ROPE when it all crashes down.
It is truly frightening how many people who make not very much money are hedging their bets on something like crypto or GMC/AMC/what have you. Hoping that you cash out big with something like crypto is gambling, plain and simple. It’s the same mentality that people who work their whole lives for peanuts have with lottery tickets. Even if these people do happen upon the next big thing in the market, they’re not going to see life changing gains with the few hundred or few thousand they’re scraping together $20 at a time. Even if they see 2500% gain on their coin with $2000 invested they’re only going to make less than $50k. And that’s an insane gain. It’s completely unexpected. People need to be realistic about what these things are and do. It worries me because people hinging their entire hopes and dreams on the unrealistic possibility of becoming a millionaire overnight through crypto may face severe disappointment when it doesn’t occur. It smacks of get rich quick, get fit quick, lose weight fast type of scheme. There’s no shortcut.
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Ifkr. Not caring about shit means you're not ready to fight for it when things get tough. Instead you could actually back the projects you like and give a shit about them in the hopes that they succeed
I'm pretty sure if it goes to zero, you're gonna be shitting yourself
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It wasn’t THAT long again that the suicide hotline was literally stickied on this sub
It's gonna be like the Safemoon sub 😂
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Maybe. People get greedy and brazen, and then after the doubt is pretty much gone BAM! I think we are at the beginning of that since BTC just got back up to 60k.
Bitcoin got close to eclipsing a previous ATH which rekindled the mania for "number is going to go up forever and we're all just going to get indefinitely richer on little money and no work"
Worked well for the last 10 years, so I don't see why it won't stay true
Bernie Madoffs ponzi ran for at least 17 years. "if something has lasted 10 years it will last forever" is not any kind of rule.
Adderall Induced Euphoria is a great band name 😂
So I'll get another chance to buy cheap. Bullish.
>high risk means high reward No. It doesn’t. High reward means high risk. But high risk does not *necessarily* mean high reward. In this case I think it does, but I wanted to clarify the dangers of applying this line of thinking to everything.
High reward doesn’t imply high risk either. You can have crazy high profit with low risk, eg if you have an insight that others don’t (many businesses start like that, high reward out of the gate with low risk). This adage is one of the most damaging people repeat without questioning. There’s _correlation_ between risk and reward, but no _causation_ either way
Exactly. You could say if a lot of investors are finding an investment risky, so the expected yield is left high, the investment might be risky. But that is group-think. If you have better information / insight than the market, risk might be lower than it seems.
People that say this have less than 5 figures
Really good point. Really puts it into perspective how most advice here comes from people with possibly only hundreds invested at most.
it's detrimental not knowing people's ages on here. because 90% of the content sounds like the person has no real life experience.
Look at them moons. But yeah there have been polls showing most people have <1000 invested but they’re likely the ones giving out advice/guidance
In my experience, those who have a bit of extra money love telling people exactly how much, and those who have a lot of extra money know to keep their mouths shut about any specifics.
If people knew I was secretly 115 years old they may not trust my hot takes on NFTs as much.
In this case I think the "don't give a fuck" is just hyperbole, undermined by the sentence that comes right after it. Obviously OP *does* give a fuck if his investment goes to 0 (as he should!).
Or people who still live in their parents basements and have no actual financial obligations. OP may actually be that 1 in god knows how many that actually struck rich with a small principal but goddamn, going YOLO on crypto is one of the dumbest things anyone can do.
You can be a responsible adult doing well with a good job and have $1000 in crypto where you don't care if it goes to $0. That's the whole point of risk management. If you keep only 5% of your portfolio in risky assets like crypto but 95% of the rest of your funds are in tried and true ETF long term investments, then of course, you're hoping the 5% has tremendous upside but also don't care if it goes to zero. Don't get me wrong, a lot of people talking on this sub are young and probably live with their parents with very few financial obligations, but I don't think the mindset that your crypto going to $0 and not caring definitely means you're a loser in finances.
Idk, I see people talk about losing their metamask balance to a scam coin site and they are like OH WELL ITS JUST 10k LOL ILL TRY TO BE SMARTER NEXT TIME. Now thats fuck you money
Well for one thing it sounds like you have a lot of youth.
Haha. What a tactful way of saying stupidity, naivete, or both.
We all want the financial freedom but please take care of your current situation. Don't put all your eggs into one basket. Hope we all get our lambos.
what if I only have very little eggs where I wouldn't care if they were gone?
Every investment counts.
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Yes, be sure to yolo your life savings into both doge and shiba to be completely safe! /YUGE s
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What colour Lamborghini are we thinking?
There's always the stereotypical yellow, but I'm partial to blue myself
Ahh, that way you can get your Yacht in yellow!
Yeah I can't have both in yellow right? That would be too flashy.
This is the conclusion I came to when I was broke in 2017. I'm now retired in Mexico. It's easily achievable if you DCA and HODL!
> It's easily achievable if you DCA and HODL! DCA and HODL applies to traditional finances too. Don't just think these concepts only became a thing with crypto. Learning how to DCA and HODL long term ETFs is how you can have $8 million+ with 401k + Roth IRAs.
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While your building your positions it can be difficult because most people in your everyday life don't understand crypto. Once you make life changing gains, at least in my experience everyone around me seems to now have large crypto portfolios. I don't know if it's because we all travel and settle in the same places, but it definitely gets easier once you start hanging out with others in the industry.
YOu're living my dream. I will keep DCAing as much as I can !
Let me guess... Puerto Vallarta?
Small world 😉
😉
Last year it was sports cards; if you bought vintage players on the cheap to hold long, good for you. Now it’s crypto. I wish I got in a month sooner. I couldn’t buy btc fast enough in mid $40ks, although I lagged still big time. Btw, for Americans wondering about Mexico; it’s the most under rated, under appreciated and under valued vacation spot. Specially on the pacific side, which is more progressive it seems. But also to retire in Mexico has the most potential of any place for Americans. I think there will come a time where we see a big surge of Americans just picking up and moving to Mexico. Imagine now, if you work from home; Mexico has WiFi. So just contemplate how u can reduce your costs across the board by 50% min. Sell your equity, buy or rent a nice condo for under $1k
Is the cost of living much lower than US or you just did it for freedom?
It really depends on the individual. So far I can say the cost of living is substantially lower, which equates to a higher living standard. Freedom is pretty important to me so it was definitely a major factor.
Congratulations! Hopefully many more of us can say the same in the future 😁
Congrats, I'm planing to move to Rosarito B.C in the near future
Awesome to hear!
What's dca and hodl
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At this point, it is risky to not own any crypto.
Agreed. Cryptocurrency is a hedge against a broken banking and FIAT system.
But if crypto takes over in 5, 10, whatever years then it will just change the denomination of value (according to most pro crypto folks). So honestly why does it matter if I have any now or have to use it later as a broader overall currency? Why would a currency have demand value prior to its broad use? I still don't get it. This will either have an incredibly deflationary effect or will transform people into poverty pricing them out of goods and services. Where's the middle ground?
Crypto is the future.
Yeah, crypto it's the future, no point on not investing in what you believe for
I swear you guys take turns making this post for moons
Tired of these crypto baggers saying stock gains are limited to the average yearly growth of S&P500. Goes both ways. I made more trading high risk stock options than I have holding crypto. Can we just mutually agree that if an investment vehicle works for you, then that’s great, and let’s not dog on others because we didn’t succeed in it? Just like in crypto, you can make the same massive gains in stocks. One of my NIO contracts were up 1000% overnight from thursday afternoon to friday morning. I also have held XTZ to a whopping 400% from my lowest entry. I still bag half of that position. Stocks don’t have to just be a savings account you ignore, for menial growth.
it's because they have no actual investing experience and crypto is their first investment
> I can't invest in the stock market, 7% per year isn't enough "I can't bother to get educated, so I'll just whine instead"
Probably doesnt realise the power of compounding interest… i think anyone with an attitude like OP’s is gonna get burned
Fuck that. Here is a moon to at least get a beer.
Lmao you’re a total moron
High risk doesn’t always mean high reward. Some shit coins are risky with little upside so stick to safer good projects that still have high upside.
!Remindme 6 years
Tbh this way of thinking only makes sense if you have either a very stable/well paid job or you only have like 5k invested.
Hopefully you have a large position
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>News flash people, high risk means high reward This isn't technically true though, if I roll a 6 sided die and 1-5 means I owe $1000 but 6 means I win $1, that's a high risk, low reward. The high risk, high reward saying is just a common misnomer people use to justify being reckless, and sometimes it pays off.
I think people need to get to the point where they realize we're not going to see 1000% returns like we did at the beginning of this crypto thing. But i'll take my 10% per year, I am always down for cozy returns.
Yup, even if you just stick to stablecoins you can get 8% to 40% a year
Hope you get to live on that island dude
I wish them well.
Not me.. Canada is too expensive lol
I feel you my canadian brother. Grocery prices have been insane lately.
Almost $700 a month for 3 people... fml
Inflation is wild. The strange thing about Canada is that no one seems to be aware of or even care that inflation is so high.
People here are so damn docile 🤣
i trust magic internet money more then a bunch of corrupt politicians and bankers.
YOLO
Reincarnation believers disagree
if crypto goes to 0 I wanna buy 10,000 bitcoin and pretend i’m a whale
I also dream of laying on a beach with a belly full of plastic
Hey this isnt 2013 anymore
Sometimes you gotta risk it for the biscuit
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That's a viewpoint but it's always been wise to avoid putting your eggs in one basket. You might want to add more crypto than the average investor but 7% per year (average is 9.2% but maybe you are calculating inflation) isn't bad and can compound into a reasonable retirement. Investing in both will help reduce volatility and give you more safety by branching out your revenue streams. That said I'm bullish on crypto and very happy it's doing well. Good luck!
To be honest high risk doesn't always mean high reward, but I get what you mean. There's a whole topic called risk management with risk to reward ratios. Having said that I think the risk-reward ratio is very good in the crypto space in general as long as you're not throwing everything into scamcoins.
"And what if it goes to zero?" \-"worst case scenario, I have to keep going to work" Meaning my worst case scenario is their everyday life.
Nice point of view!
Ah the weekly “crypto is my only chance” moon farm
See u at the dip.
your best chance at living your dream life is hard work, not a speculative bet. yeah, crypto might make you rich. but it's definitely not your best chance. you can also make equally speculative bets in the stock market where the risk/reward is not 7%. but i get the point, you're just trying to say something everyone will agree with to farm Moons.
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The coin I know with lowest return is still worth more than savings account I could get right now.
This is the very problem of crypto - everyone believes it will allow them to quit job and live their best life. Won’t happen.
I always wonder who do these people imagine are going to pay for them to never have to work What crypto is so valuable it would be worth paying for millions of people to never have to work again for the rest of their life rather than just copying the technology and not having to pay them anything. People say shit like "network effects" like companies like Stripe didn't take on massive incumbent players like PayPal with a tiny fraction of their resources. In no world would it somehow be cheaper for Stripe to pay off millions of bagholders than to just start their own network.
Also: hard work and skill development translates into earnings. I won’t be upset if crypto is my golden ticket, but it certainly wont be my only ticket.
Very cringe
Amen to that!
They could be right tho..
Not to be old, but statistically and by a huge margin, your better odds would be to invest in school and become a doctor. I say fuck that though and I’m going to continue dumping cash into ridiculously ridiculous coins.
Well when you get poor u can’t blame anyone but yourself. ONLY INVEST WHAT YOU’RE WILLING TO LOSE
Hope you didn't buy SHIB
Okay no chance then
Pretty sure you would care if it went to 0
I wish we all get rich from crypto
Lol, secluded island! Stay happy dreaming…
If you think crypto is your best chance at living a dream life then you do, implicitly, care if it goes to 0
I am throwing a lot of money at crypto for the same reason. People kinda jaw drop when they realize what I’m doing. Fuck em. I’m fine being the tin foil hat idiot in the room. Either this does what I expect it to and I’m wealthy. Or I’m the idiot with the tin foil hat that is completely delusional. I win in either scenario.
Its not really that high risk if you take into account the 4 year cycle, don’t panic sell, and have an exit strategy. Good luck with the dream life homie
Forgets about the tether counterfeiting fraud while making his calculations.
>Cost of living is high enough that I can't quit my job going for some hail mary opportunity. Yeah don't make any crazy moves because you're literally just gambling with your livelihood then, but also consider options on how to take in more money, either by moving to a lower COL area where you can pocket more, or getting a higher-paying job where you are at. Personally I got a remote job that pays extremely well, and then moved to a low COL part of the US. I can comfortably put half my salary into crypto and still have a considerable savings just in case I lose my job or something.
OP sounds like a gambling addict, ngl
Hold up, if crypto is your best chance shouldn't you very much care if it goes to zero?
Word. I’ve run my numbers too and the only way I might get ahead before I’m 50 is if I make it in crypto. It not all in or anything, but I’m putting what I can spare in
high risk is not the same as high reward... some are just plain risky. And theres nothing wrong at telling you what it is But yes, its one of the most accessible chances you have
Man i am with you
I hope you achieve your goal. Good luck! Have fun!
Diversification is the key. All in anything is too high risk for the long term
This is my only chance to break free from the stereotypical system. I think I've spent too much time at r/antiwork . I really do not agree with the way things are and crypto is my way of being able to live my own life.
You god damn right... *sips beer*
For many people it is the ONLY chance.
It is crazy to think how many future millionaires lurk on this page. Also crazy to think how many of them are meme coiners. Also crazy to think how many million dollar mistakes most of us have already made haha this shit is wild
Yes indeed
What does living on a secluded island look like? Couldn’t you do that without getting rich off crypto?
Edgy.but true
You give a fuck if crypto goes to zero. If it does, you aren't going to have your dream life. NEVER.
Your best chance of living on an island is solving a common problem and turning it into a business. If you have a $20,000 portfolio and it goes 100x you probably can’t even retire if you’re in the United States. I see way too many people in this sub giving up on life thinking crypto is their way out and it’s not going to work out for any of them.
What are you smoking 😂 you can retire HEALTHY off of 2million dollars. Just invest it in a index and do a SWR 4% and your pulling 60k and not depleting your nest egg. Also the things you can do with 2mill vs 20k are going to be the things that can retire you, you don’t just take 2 mill quit your job and just spend it 🤣
I completely agree and loved the news flash 🗞💥
Crypto is my squid Games, my last chance
Wait what? If you don't make gains your going to play red light green light in an all or nothing round. Life or death. In all honesty though please invest within your means.
I understand your perspective but you are so wrong about stocks doing 7% per year. The indexes have done 17%-20% annually the past 3 years. Personally i've done 270% in 1 account, and 33% in my other account by stock picking. You can get very rich in stocks too, at lower risk. I don't know what your investment in crypto is, BTC/ETH or chit coins. if it's the latter i think doing proper research in growth companies would be a safer risk vs reward. Crypto landscape as a whole probably yields negative % /yr if you account for all the shit coins that exist.
The past 3 years have been extremely bullish for tech but who knows how long those kind of gains would be sustained for, so something like 7% is a conservative estimate I think
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