IT.COM

discuss 10x Your Money In Domains Or Crypto Currency?

Spaceship Spaceship
Watch

Silentptnr

Domains88.comTop Member
Impact
47,106
A lot of domain investors also invest in crypto currency it seems as of late. I usually feel pretty confident that a domain I carefully acquire today will be a 10x+ my investment including holding time. If say, I were to buy bitcoin today, is it feasible that i would get 10x my money?
 
15
•••
The views expressed on this page by users and staff are their own, not those of NamePros.
I have never sold any BTC. Keep in mind that I have never bought any crypto either - all the crypto I have has been clients paying me in crypto for services rendered.

Don't regret hodling, but woulda been cool to buy something like this at the height of BTC end of 2017, for btc
https://www.theverge.com/2014/1/22/...s-selling-his-7-85-million-mansion-in-Bitcoin
Part of the reason I have never sold is that it's too hard to sell a lot of bitcoin, all these U.S. wallets have limitations on how much you may sell at a time, and then also they want to report your transaction to the US treasury department. My main wallet where I have most of my BTC is overseas and has no mechanism to sell for US residents, so I'd have to transfer it to my US wallet just to sell.
But if I'd traded it for a second home, no selling limitation issues, no reporting (I don't think). So something like that if it comes available again when BTC is back above $20K, I might go for.

Another possibility when BTC is over $20K would be that I sell the wallet intact to some whale, but the sums involved would not make it so easy. Not like meeting a guy at Starbucks to sell a few hundred or even few thousand dollars in BTC for cash....

Over $20K is the minimum price at which I would even consider unloading BTC. Given that it was once just below that, I'd personally never consider selling below where it once was.

Meantime, anyone who wishes to pay me in BTC, which I continue to receive some weekly lately, bring 'em! I shall HODL.
 
Last edited:
0
•••
yes I kinda figured you never really paid money for crypto from what you said.
but still.. work is work.. so you paid with your effort and time etc..

what I meant to say is that if you never cash any of it.. even if only 20% or so... and then it starts going back to 2011 levels.. well.. you know what I mean..

ah yes.. I saw a site once .. I forget the name.. where they basically tried to cater to the new bitcoin millionaires... selling some expensive items for btc.. but also some very exclusive items.. maybe not available elsewhere.. maybe I'll find the site again... I accidentally found it just doing some domain related browsing or research... for crypto names.

so in your link.. what does the guy benefit getting paid in btc for it? or he's just gambling entirely that it'll go up and he'll multiply his money?

there are no other benefits really to getting paid in btc... you still gotta do the notary thing.. pay taxes on sale.. etc etc..
 
0
•••
Well, let's say that the btc I receive (work exchanged for crypto) is a sort of retirement investment savings account. So, I'm thinking very long term.

But bottom line, with my opinion being as worthless as anyone else's, I think it will go up. But my opinion is backed by the fact that I have hodled. My money is where my mouth is.
 
Last edited:
0
•••
ok I understand.
but what WILL you do when and if ever you see it approaching 2011 levels?
will you still hodl.. will you sell... will you buy more.. will be very mad?
 
0
•••
btc made a super run since 2011 for sure.

but it does not mean it'll just keep going up.

you said you hodl all but maybe you already cashed in some profits just in case.

what if you start seeing it go to what it was in 2011. you will be very unhappy.

This guy saw it go from 19.8k to 3k... but he still held. He has balls far more tough than diamonds, i'm afraid.

He wouldn't sail his 100000000 btc even if it hit $100 because he believes that it will reach above $500,000 per btc.


And I don't blame him. We only started getting into crypto 2 years ago. Imagine if you had btc since 2011? It's like a part of you. Why would you sail?
 
0
•••
yes true
but I was just makign the point that if btc ever goes to zero.. which of course is a possibility.. in some years... then how can you justify still hodling then.
 
0
•••
As jv1999 is more or less saying, "After hodling this long, why sell?" That makes as much sense as anything else....


You can't ever know. However my experience with investments indicates that it is unlikely to fall off that far, as in back to a few hundred per BTC.

You may look at, for example, how a stock like AMZN trades. Lately there is intensive sell pressure on it due to President Grump's tariff trade wars. It has dropped off from the 1950s recent high just a week ago that came after it was disclosed that Buffett has been buying it for Berkshire Hathaway. Dropped off like as much as a 100 points in a trading week, dropped as much as 100 points at times, over this last week. But each time it dropped, buyers have jumped in to push it back over 1900 or so. This action, long term experience tells me indicates that notwithstanding temporary drops, people are just waiting for the news of a China trade settlement to shoot AMZN back over 2000.

Another reason I think people are not letting AMZN drop so low, is that people saw how low it (and other stocks) got by December 24, 2018, and how most stocks recovered to new highs. People don't want to make the same mistake twice of selling into stupidity. On Christmas day 2018, I made a bet with a guy I know that the market would recover to its same high by March 2019. He thought I was completely crazy and he predicted utter ruin. He sold everything and put his money into a one year CD. I held on to all my stocks, and even bought more. Who was right?

I see similar trends in BTC. People aren't allowing it to crash, buyers are snapping up the dips, especially lately. Given that it has now recovered from 3K lows, people are now reluctant to let it drop again that low, they will catch it before that. Again, all theory, but based on my experience with how these things tend to work.

So, for reasons beyond mere "hope" I see BTC as poised for greatness. The medium term and long term charts indicate this as much as anything else.
 
Last edited:
0
•••
yeah... well.. let's hope your right... and I hope you have nice retirement courtesy of BTC!

regardless as I said before... and that's true in most investments.. stocks.. domains.. crypto.. great majority of people will lose money.. not make money... which imo makes something like btc a pretty "evil" thing.. investment wise.

I was looking at some charts today too... many are saying something like 30-40k in 2022.

I think thats reasonable.. but ups and downs along the way will cause damage to a lot of people.....sadly.......
 
Last edited:
0
•••
yeah... well.. let's hope your right... and I hope you have nice retirement courtesy of BTC!

regardless as I said before... and that's true in most investments.. stocks.. domains.. crypto.. great majority of people will lose money.. not make money... which imo makes something like btc a pretty "evil" thing.. investment wise.

I was looking at some charts today too... many are saying something like 30-40k in 2022.

I think thats reasonable.. but ups and downs along the way will cause damage to a lot of people.....sadly.......

I dunno about 40k. I mean, you're still dealing with the fact that only 10% of the world owns bitcoin, and only 0.x% of that 10% actually uses it for more than just gambling *cough* investing.

Tbh, bitcoin's real price is around $xxx to low $x,xxx given the hard facts.
 
0
•••
regardless as I said before... and that's true in most investments.. stocks.. domains.. crypto.. great majority of people will lose money.. not make money
No, most investors make money. Nearly all. Investors are long term. Most short term traders lose money, with the shorter the term (for example, day traders) the more likelihood of losing.

This is true of all “investments.”

Investors vs. traders. Long term vs. short term. Big difference.
 
Last edited:
2
•••
I dunno about 40k. I mean, you're still dealing with the fact that only 10% of the world owns bitcoin, and only 0.x% of that 10% actually uses it for more than just gambling *cough* investing.

Tbh, bitcoin's real price is around $xxx to low $x,xxx given the hard facts.


I disagree with that assertion. Bitcoin's "Real" price will only be reached after the informational asymmetry between us, the early adopters and the ROTW has been eliminated. At that point, price could be multiples higher than 40k. What I mean to say is there will be a massive divergence between the supply and demand of BTC...far greater than what we are seeing now.
 
0
•••
No, most investors make money. Nearly all. Investors are long term. Most short term traders lose money, with the shorter the term (for example, day traders) the more likelihood of losing.

This is true of all “investments.”

Investors vs. traders. Long term vs. short term. Big difference.

thats kinda debatable. becaue neither of us holds stats on ALL investors.

I firmly believe most domainers, most crypto investors.. etc... lose money.

but I'm somewhat open to being wrong.
 
1
•••
I disagree with that assertion. Bitcoin's "Real" price will only be reached after the informational asymmetry between us, the early adopters and the ROTW has been eliminated. At that point, price could be multiples higher than 40k. What I mean to say is there will be a massive divergence between the supply and demand of BTC...far greater than what we are seeing now.

So ur saying, despite virtually no one using crypto daily, it will still be worth far above $40k?
 
0
•••
Last edited:
1
•••
So ur saying, despite virtually no one using crypto daily, it will still be worth far above $40k?


No. I'm saying because virtually no one is using crypto daily it's worth far above $40k, in the future.
 
0
•••
No. I'm saying because virtually no one is using crypto daily it's worth far above $40k, in the future.

you mean because few people use it today, it has a lot of potential room to grow later?

this is true. just not a guarantee.
 
0
•••
you mean because few people use it today, it has a lot of potential room to grow later?

this is true. just not a guarantee.
Yes.
 
0
•••
<<virtually no one using crypto daily>>

<<because few people use it today>>

Eiey1i9l.jpg

Took this pic a couple months ago. Are people buying gas daily with BTC? Probably not, but the option is available.
 
0
•••
FACT: When crypto hit $6,900 the first time it jumped to $20k in 45 days.
Just a heads up.
 
3
•••
<<virtually no one using crypto daily>>

<<because few people use it today>>

Eiey1i9l.jpg

Took this pic a couple months ago. Are people buying gas daily with BTC? Probably not, but the option is available.

Omg what city is this! 40 cents off a gallon is huge af!!!1:xf.eek::xf.eek::xf.eek:
 
0
•••
San Diego, California

Yes I didn’t notice the .40 cent pg discount until later when I looked at the pic.
 
Last edited:
0
•••
oh boy.. 12 hours later.. and 1k less!

welcome to the btc rollercoaster
lol
 
1
•••
The 24 hour high was 7500. At the moment it’s 6900. The way this usually works is the traders who sold at 7200 clap themselves on the back only to stare at the ticker frozen as it goes back above 7500 and they realize that they sold too soon.
 
0
•••
yeah... I mean unless your playing with some cheaper currencies.. ada.. ltc.. trx... bitcoin is rich man's gamble at this stage.. like you who bought or got X bitcoins since 2011...

for evryone else who is on tighter budget... investing in btc at 5k is basically a guarantee of not sleeping much.
 
0
•••
Well just like with stocks only completed buy/sells affect the price. That sounds intuitively obvious but a lot of people don’t get it - think that price goes up because more buyers than sellers. That’s only part of the equation. In fact, if there were 1000 sellers asking at 7000 and 1 buyer only bidding at say 6500 the price wouldn’t change a penny. Only matched buys with sells that close affect the price.

Anyway all I’m saying is that in order for the price to change activity must be going on.
 
Last edited:
0
•••
Back