Trade Yeah, I'm Really Really Stupid

so anyway, a little over 9 years ago I was yakking on the phone to a old college friend of mine. Nothing in particular, just shooting the breeze and we started talking about investments, As I recall the conversation went something like this

him: "hey! you know what you should do....I just bought some"

me: "what?"

him: "how much cash do you have in your account?"

me: "I don't know; probably around $10K"

him: "well, buy 40 bitcoins"

me: "wut?"

him: "bitcoins"

me: "wtf kind of stock is bitcoin?"

him: "it's not a stock. It's crypto-currency"

me: "wut?"

him: "crypto-currency. it's a new type of investment"

me: "hmmm...how would I but some then?"

him: "you'd have to open a crypto-account"

me: "wut?"

him: 'it's no big deal. Just another account attached to your main account" (he then goes into a long explanation about what bitcoins are; only 21M of them; bitcoin mining; cryto-nerds running the show....honestly, I didn't understand much of it at all. And didn't care at this point)

me: "sounds like a great way for me to turn 10K into 1K"

him: "could be...but I think it's going to take off! Look into it"

me: "will do. Hey! it's been good talking to you. don't be a stranger"

me, after hanging up the phone: "WTF was that?"

bottom line: he did and is a multi-millionaire; I didn't and I'm not

I bring this up because I see Bitcoin hit the $100,000 mark this week. What's 40 X 100K?

 

Two random stories on BitCoin, first I remember being home probably 12 years ago and walking around Clackamas Towncenter. There was a dispenser where you could (I think) buy bitcoin and I remember it having the logo and everything up on it, thought it was the dumbest idea ever but that image of the logo and box always stuck with me for some reason.

2nd story ... we were talking about BC with some of the wife's cousins and one of them told us a 'friend' of his that use to sell weed was trying to find a better way to get his clients to pay him electronically and stumbled on this new thing called BitCoin. The kicker is he totally forgot about the stuff (guess he was high on his own supply) and stumbled on some online wallet years later. His couple of thousand dollars in some random internet thing had blown up to over a million dollars and he had no idea.

 

no doubt at all, but I did track bitcoin after than when I could have bought in at $250. But I would have almost certainly sold when it hit $2000 in 2017; (maybe even at $1000). And been happy with my 70K profit. And obviously, I'd still be kicking myself when I saw it hit 60K; and again when it hit 100K

I do have a friend who sold all his Apple stock in 2008 when the market tanked. He'd have around 11 million today if he would have held. He's kicking himself harder than I am

 

I was sitting around thinking about buying bitcoin when it was around $0.004 and saw that somebody bought a pizza with it. I was going to buy $100 worth.. but then got distracted with the kids and never got around to doing it. I did finally buy a little at like $25k, mostly just to pay attention, but then sold it after the NFT baloney. I thought all crypto was gong to crash at that point. Whoops.

 

You are not the only one. I invest in an alternative because bitcoin was too much. Not only did the alternative flop but the app/company i purchased through went bankrupt.

 

Never touched the stuff. Wanted to buy something online last year and their preferred payment was bitcoin and I immediately decided not to go through with it.

 

I distrust bubbles. My funds are soundly invested. Lashanna and I won't be millionaires or beggars, unless they get rid of social security.

 

I put in a few hundred bucks into some alt coins a while back, nothing I wasn't ready to part with. I've been back in the black since the election for the first time in a while.

What I'm most looking forward to is Pi Network is finally about to launch mainnet. After a 4+ year runway, they have millions of active users across the globe. I have nearly 7k coins, so even if it launches at around a dollar, I'll have a nice little chunk of change. Obviously there is speculation, but some think it'll launch at upwards of $80, which would be a boon for my mining team.

http://www.sportstwo.com/threads/crypto-currencies.363284/page-4#post-5180892

 

Have some Bitcoin but not nearly enough. Not even one. I bought some DOGE back in the day and sold it like an idiot. I went all in on Shiba. I have about 120 million of those or so. Hoping that is the next something. I also have a few Ethereum which is supposed to be next in line after Bitcoin. Hope that's the case.

 

I've mentioned it a few times here and nobody really showed any interest, but just to update everyone, they have announced that open mainnet starts on February 20th. If price at launch is anywhere near what I'm thinking it's going to be, my net worth could go up by ~$300k.

 

a part of me wishes I knew more about investing.