discuss 10x Your Money In Domains Or Crypto Currency?

[Silentptnr]

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?

 

[xynames]

As far as investing:
(1) Buy only blue chip assets, as far as cryptocurrency, this would mean bitcoin ONLY. As far as stocks, industry leaders like AMZN, TSLA, AAPL, GOOGL, CMG, etc. etc. the list of solid stocks stretches out very far.

(2) When the inevitable dips arise, either buy more, or hold fast (or hodl). Market timing doesn't work.

As far as trading:
I don't trade any crypto, but I do trade additional shares of solid stocks I own. Do this at your own risk.

 

[Jv1999]

It fell to 37k so bought some

 

[xynames]

Well the way that usually works for most traders is they buy at say 37K, it goes to 39K and then starts dropping. The trader dumps at about 37.5K and notices that it drops below his 37K buy, and then as he's slapping himself on the back, it rallies back to 38, 39, 40K and beyond. That's a best case scenario for most traders.

Others will end up losing money as it dips below their purchase price, or, if a little more disciplined, holding only until it's just a little higher than the purchase price and letting go for peanuts, only to watch it rally back much higher.

In sum, unless you really are a good (and lucky) trader, it's just better to get in and HODL with something as volatile as BTC. Once you're stratospherically in the green, these fluctuations don't mean so much.

 

[Jv1999]

Well the way that usually works for most traders is they buy at say 37K, it goes to 39K and then starts dropping. The trader dumps at about 37.5K and notices that it drops below his 37K buy, and then as he's slapping himself on the back, it rallies back to 38, 39, 40K and beyond. That's a best case scenario for most traders.

Others will end up losing money as it dips below their purchase price, or, if a little more disciplined, holding only until it's just a little higher than the purchase price and letting go for peanuts, only to watch it rally back much higher.

In sum, unless you really are a good (and lucky) trader, it's just better to get in and HODL with something as volatile as BTC. Once you're stratospherically in the green, these fluctuations don't mean so much.

i think everyone should sell for profit as it's obviously crashing hard...

it went up from 9k to 41k in a matter of 1.5 months... that's even more inflated than 2017 levels. anyone with brain cells would've foreseen a crash.

it will rise after, but who knows how long...

 

[xynames]

As I have said more than once,

Can't really expect this to hold up, as in, it'll never go straight up. Ups and downs are part of the game, and many traders will lose their shirts along the way, so that hodlers like me may benefit in the long run.

but all that is really happening is that bitcoin is being pried loose from impatient traders and into the hands of longer term holders, including institutions. There just isn't enough bitcoin to go around and it has to come from somewhere. After the dust settles the small fry get hurt and the larger hodlers especially benefit.

It's a straight amateur move that most traders do where they sell too soon on their winning trades and then get crushed on a trade where they hold the losing trade too long, such that they give up all they made over the course of days or even weeks in just one trade. And this is part of why about 90% of day traders lose money. It really takes a lot of skill, discipline and BUYING POWER to make money consistently short term trading. A lot of these traders go all in on each buy, and when they get stuck, they get smashed.


By the way, BTC hasn't been 9K since July. Not 1.5 months ago.

 

[gotasale]

PayPal allowing their customers to buy and sell bitcoins was the only big catalyst for this 40k jump

I still can't buy bitcoins in my country even through my PayPal

The price now will go down to 20k and may settle around 15k waiting for the next catalyst if that happens

Last bubble people expected to see the price down to 1$

But I think bitcoins settled itself so at least x,xxx doesn't look like a big possibility anymore

 

[xynames]

People who say nonsense like that are the same ones who see for example AMZN down fifty points and declare that it’s going to drop -500. Meantime they’re too scared to buy in and wait for some absurdly low entry level that doesn’t arrive.

If you’re so sure anything is going to drop like that you should bet the farm on shorting it.

In December 1998, we had a big correction. I mean stocks were crashing right and left. Many panic stricken idiots, especially the Wall Street brokers, started shorting the market, or dumping everything cheap.

Fortunately I stayed long and enjoyed 1999.

 

[Jv1999]

People who say nonsense like that are the same ones who see for example AMZN down fifty points and declare that it’s going to drop -500. Meantime they’re too scared to buy in and wait for some absurdly low entry level that doesn’t arrive.

If you’re so sure anything is going to drop like that you should bet the farm on shorting it.

Shorting is hard though. It's not like hodling. If the price goes too high or doesn't go low enough within a certain amount of time... your "bags" are liquidated automatically.

 

[xynames]

What we don't want is a too rapid recovery. If it shoots right back up, it'll almost surely drop back down again to lower lows before a sustained recovery.

Better would be a slow recovery, gradually consolidating and re-building a base.

 

[Jv1999]

There was a 19k ATH in 2017. It took 3 years of sustainable recovery. J/s

 

[garptrader]

The volatility is amplified by leveraged trading platforms which allow leverage not normally available for stocks.

 

[SirDrago]

The volatility is amplified by leveraged trading platforms which allow leverage not normally available for stocks.

Correct!

 

[JB Lions]

Just saw this story. Looks like he forgot his password. Has 10 chances. Used up 8. Could lose about $220 million:

"Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million."

"The password will let him unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds 7,002 Bitcoin. While the price of Bitcoin dropped sharply on Monday, it is still up more than 50 percent from just a month ago, when it passed its previous all-time high of around $20,000."

https://www.nytimes.com/2021/01/12/...llets-fortunes.html?smid=tw-nytimes&smtyp=cur

https://twitter.com/x/status/1349018316489314310

 

[Jv1999]

Just saw this story. Looks like he forgot his password. Has 10 chances. Used up 8. Could lose about $220 million:

"Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million."

"The password will let him unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds 7,002 Bitcoin. While the price of Bitcoin dropped sharply on Monday, it is still up more than 50 percent from just a month ago, when it passed its previous all-time high of around $20,000."

https://www.nytimes.com/2021/01/12/...llets-fortunes.html?smid=tw-nytimes&smtyp=cur

https://twitter.com/x/status/1349018316489314310

It's annoying when you're trying to read up on legit crypto news, but this one story takes up all headlines in Google since yesterday...

I don't think it's too much of a problem, someone offered to crack his pw for 10% of the holdings.

And he had the gall to say that he doesn't think "being your own bank is a good idea" because stuff like this happens... c'mon now... he's a tech expert and he said that just because he didn't care for his pw.

 

[JB Lions]

I don't think it's too much of a problem, someone offered to crack his pw for 10% of the holdings.

Don't know much about these things but that doesn't seem to be a good thing either. Are these things easy to crack? And if he gets it wrong, apparently it's lost forever.

Doesn't seem to be too beat up about it, using the story to advertise his product - https://twitter.com/Interledger

 

[Jv1999]

Don't know much about these things but that doesn't seem to be a good thing either. Are these things easy to crack? And if he gets it wrong, apparently it's lost forever.

Doesn't seem to be too beat up about it, using the story to advertise his product - https://twitter.com/Interledger

I don't know much about cracking, but if you have a password-protectd device that doesn't self-destruct... it's only a matter of time before you crack it if you have full access to brute force attempts.

The reasons why brute forcing doesn't work on the internet is because they have time outs and bans and such and self-destruction.

Not sure what will happen when his HD encrypts itself. is it really that hard for someone to unencrypt it? What if he contacts the HD manufacturer?

 

[xynames]

Hate to say it, but we wouldn't want all of the lost bitcoin to be unearthed. Probably the vast majority of super whale wallets are lost forever and this is a good thing - if all came online at once and these super whales decided to dump at once the price would go down suddenly.

In any case, pretty much what I predicted has already happened, in terms of that a typical trader buying at 37K would have watched it go to 39K, typically then dumped in desperation at 37.5K on the way down, watched it go below 37K and patted himself on the back, only to see it eventually rise back higher than his sell point. Straight amateur move all the way, but better than all the even more amateur traders who actually lost money as bitcoin dropped recently, only now to be kicking themselves as it rebounded all the way back to 38K.

HODL all the way.

https://nypost.com/2021/01/13/meet-the-bitcoin-investors-who-got-insanely-rich-off-crypto/

The ups and downs are by no means over, but when BTC reaches its inevitable 50K price point and beyond, none of these prior fluctuations will matter.

 

[Jv1999]

I think it will still fall.

I bought $100~worth at 37k and trying to sell at 38.7k but it fell back to 37k.

There is just no way btc can go past 20k so fast when the economy hasn't recovered and politics is the way it is

 

[xynames]

Assuming you’re still holding and missed your intended target of 38,500 (or whatever) - the thing to do now is raise your sell price to at least 39,000. It may seem contradictory to raise your sell price after you missed it the first time round but the proper (advanced) trading theory is that if / when it makes it back to 38,500 again, it’ll break through higher.

There is just no way btc can go past 20k so fast when the economy hasn't recovered and politics is the way it is

The DOW and Nasdaq would disagree with your sentiment. And so would all my stock holdings.

 

[Jv1999]

Assuming you’re still holding and missed your intended target of 38,500 (or whatever) - the thing to do now is raise your sell price to at least 39,000. It may seem contradictory to raise your sell price after you missed it the first time round but the proper (advanced) trading theory is that if / when it makes it back to 38,500 again, it’ll break through higher.


The DOW and Nasdaq would disagree with your sentiment. And so would all my stock holdings.

I think it will fall still. I'm just going to sell it at 37.9k

 

[xynames]

I’m not here to teach what has brought me to a near 100% success rate at trading. I’ve offered my advice. Good luck.

 

[xynames]

the thing to do now is raise your sell price to at least 39,000. It may seem contradictory to raise your sell price after you missed it the first time round but the proper (advanced) trading theory is that if / when it makes it back to 38,500 again, it’ll break through higher.

I think it will fall still. I'm just going to sell it at 37.9k

I’m not here to teach what has brought me to a near 100% success rate at trading. I’ve offered my advice. Good luck.

No more free advice! Send me a bitcoin and I'll try to teach you what has made me a mint over the years, both in trading, and in investing.

 

[Compassion]

If you are serious about crypto and don't swing trade you'll get burned if you're looking for maximum value.

Few assets can tumble 30% + so regularly in a 24 hour period . . .

Awesome domains are more stable and of course are more one-of-a-kind.....
More of a safe haven

 

[Freshnam]

i made 25 thousand off bitcoin goin up hold on to it since paypal jumped on board and more major companies are joining as a payment method it will continue to shot up i see 100 thousand in the future

 

[Jv1999]

i made 25 thousand off bitcoin goin up hold on to it since paypal jumped on board and more major companies are joining as a payment method it will continue to shot up i see 100 thousand in the future

BTC is definitely headed for at least $50,000. But in the short term I can see it crashing due to a correxion.

It recovered to 39.7,, yes.