Lost interest?

[reddirtcoins]

Been stacking but have been way too busy the last 2 years rent-house remodeling to put much effort into it. Third house in two years with 11 months invested in those remodels. A few weeks left on the last of the three we are doing. Besides being employed full time I've been doing 70 hour work weeks for the last two years for the most part.
My thought, stack now as everyone for the most part are ignoring metal.
“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”
I would rather invest off the books then let my money be tallied by those who have no business in my business.
In the end I hope I'm sitting enjoying my hilltop view for decades into retirement.

[agmoose]

“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”
I would rather invest off the books then let my money be tallied by those who have no business in my business.

I couldn't agree with this sentiment more.

Good luck on the rentals and with that hilltop view!

[oktyabyr]

Unfortunately I moved to an area where I don’t have access to PMs locally, except to sell to “we buy gold” places. I haven’t tried any local banks for halves or anything. Plus lawyers ate up a lot of cash. Finally looking to start purchasing more, guess I’ll do a lot here.

[everything]

Picked up a couple 10 oz. bars, but I'm pretty limited in what I can spend, 100 oz. of silver and 1 oz. gold each year give or take.
I could stack harder but why. I still stack copper cents too, still picking up a box a week at my CU, they are used to giving me one so I'm going with it. Still, never find anything, but I'm still hitting around 28% so I'll keep up on it for now as a hobby that pays me nothing.

[coppernickel]

Lost interest?

No, Not in the least. Going to school full-time, working full-time, just a bit busy. Rare minutes here are my little sanity reward.

I know the low ebb has lasted a while, but I appreciate the comments.

I've been able to gather two boxes, hoping to do them in May. Maybe more boxes by then.

[coppernickel]

My thought, stack now as everyone for the most part are ignoring metal.
“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”
I would rather invest off the books then let my money be tallied by those who have no business in my business.
In the end I hope I'm sitting enjoying my hilltop view for decades into retirement.

Agreed.

The drop in bitcoin, and governments taking over electronic currencies, Japan, etc, it still remains a valid plan to gather metals.

[frugi]

The drop in bitcoin,........

is a GREAT reason to BUY MORE BITCOIN!!!!

[Recyclersteve]

The drop in bitcoin,........

is a GREAT reason to BUY MORE BITCOIN!!!!

I remember very well when people said the same thing about tech stocks like Microsoft, Intel, Dell and Cisco. They got clobbered! Some of those stocks took 10-12 years to get back to their previous highs. And none of them went out of business!

I don't consider Bitcoin to be an investment- it is speculation. If you are comfortable speculating with a nominal portion of your investable money and understand the risks, then you do what you need to do.

I think the problem is that lots of people who are invested in Bitcoin are all in and betting with virtually their entire investable net worth. I know at least a couple who are in very deep. When it goes down 50% and you can't afford to buy more even though you truly think it is on sale, then you become vulnerable. When lots of people are in this same situation, then the short sellers start to smell blood. When the price of Bitcoin goes below it's 200 day moving average (DMA), that could be a really bad sign. If I had it, I'd be watching the 200 DMA very closely.

[misteroman]

Guy I deal with is already down like 25k in btc. He makes about 50k a yr. Sad thing is, is he is so frugal with every penny and a big metal guy. Live and learn i guess.

[natsb88]

The #1 rule of crypto is don't put any money into it that you can't afford to lose. I'm having fun with it and learning more every day, while not losing any sleep over crashes or missed moons. Don't trade on emotion, FOMO, or FUD. Don't buy a coin without researching the company/organization/team behind it. Don't leave your coins on shady exchanges. Treat your wallets and keys and exchange logins like they are your SSN or credit card numbers (don't store them unsecured, don't transmit them over public wifi).

[frugi]

I am not a flipper IN anything. I am the long holder in every investment I make. like the original site was called when I became a member "hoardingcopper".com that was me, I am still to this day a hoarder, whether it be coins, scrap metal, precious metal, junk, tools, whatever it may be.... I am in for the long haul, even food. I have 25 years worth of food (3 meals a day for two) saved up, (that is over 4 tons), I have tools I will never use, and things packed in so deep I may never uncover them again in my lifetime. That is the goal for me is to leave the inheritance in the form of treasure that has no paper trail. just make sure that your beneficiaries know what the stuff is and where to find, it/sell it, and not get ripped off.

Like I said, I am not a flipper. I am not investing in bitcoin to resell in the short term for profit. I am a speculator if you will. I bought a bit with some found money, and intent on sitting on it until it produces a 500-1000% return before I sell. Until then its not going anywhere.

For the most part I am ONLY a physical investor, I do have some ownership on things I dont physically hold, such as some oil wells, and this bitcoin, but other than that I dont have any paper stock or 401k or mutual funds, or any of that BS.

I am confident in my investing outlook and do not worry for what the future holds as I feel i have diversified enough to guard against any turmoil the market may bear.

Likewise I feel sorry for those fools who invested late, and see their investment tumbling in value, but they havent actually lost anything until they sell. So, like precious metal investing is a roller coaster ride, so is cryptocurrency, and if they cant take the heat, they should have never got invested in it. its their own fault.

[Recyclersteve]

Like I said if they cant take the heat, they should have never got invested in it. its their own fault.

There are often unintended consequences tied to our actions. The problem I see for young people going aggressively into Bitcoin is that when many of them are burned, they may overreact and say "I will never invest in anything again!" That would be a shame.

My dad, still alive and in his early 90's is an example. He put my money (when I was about 12 years old) into a mutual fund recommended to him by a stock broker. The fund went down the very first day and that was just the beginning. It was down perhaps 80-90% over the next 10-12 years or so. I remember seeing a list of 1500 mutual funds and their 10-year performance. This one was something like number 1496 (very close to the bottom).

My dad said he'd never do that again and missed out on lots of potential gains in the stock market because of that single mutual fund trade. By the way the fund was called the Manhattan Fund.

[InfleXion]

BitCoin was too expensive back when it was $3 let alone when it surpassed gold. There are so many copycats coming out now; Shell and BP have one, Kodak has one, central banks are knocking on the door. BitCoin doesn't have any exclusivity, and any of the up and coming cryptos will probably be dispersed by better iterations in the future. It always seemed like a forgone conclusion that the miners would jump ship to the next best thing. Never touched the stuff, never will. Shiny's safe. I like sleeping.

[IdahoCopper]

Yup. Buying 100 Bitcoin at $3 ($300 bet) and hold it until today $10,500, would have been really dumb. You would only have $3,150,000 worth of bitcoin. Yup, a $300 bet totally wasted.

[Doctor Steuss]

The #1 rule of crypto is don't put any money into it that you can't afford to lose. I'm having fun with it and learning more every day, while not losing any sleep over crashes or missed moons. Don't trade on emotion, FOMO, or FUD. Don't buy a coin without researching the company/organization/team behind it. Don't leave your coins on shady exchanges. Treat your wallets and keys and exchange logins like they are your SSN or credit card numbers (don't store them unsecured, don't transmit them over public wifi).

I can’t imagine doing it if it wasn’t fun for me. I’ve basically viewed it as a hobby… a hobby that gave me an ROI within less than a year on the “mining” computers I built.

On top of Nate’s wisdom regarding your keys/wallets/etc., I would also suggest to make sure to have a dedicated email address with a really difficult-to-guess email name (something akin to "a809akca0ppokmc80a0923947amvidp@gmail.com"), as well as a password that’s crazy long and complicated (incorporates letters [upper and lower case], numbers, special symbols, and is about as long as the service will allow). Have two-step authentication set up whenever possible. Don’t use that email address for anything other than authentication.

If your coins are ever stolen, you pretty much have no recourse.

[Morsecode]

Yup. Buying 100 Bitcoin at $3 ($300 bet) and hold it until today $10,500, would have been really dumb. You would only have $3,150,000 worth of bitcoin. Yup, a $300 bet totally wasted.

Sure. Maybe in some fantasy universe that could happen. In the real world, anyone investing $300 would bail on the first downtick after hitting a couple grand. Nobody (read "nobody ever") held a $300 investment in anything while it sailed through $5000, or $10,000, $50,000...

[natsb88]

Yup. Buying 100 Bitcoin at $3 ($300 bet) and hold it until today $10,500, would have been really dumb. You would only have $3,150,000 worth of bitcoin. Yup, a $300 bet totally wasted.

Sure. Maybe in some fantasy universe that could happen. In the real world, anyone investing $300 would bail on the first downtick after hitting a couple grand. Nobody (read "nobody ever") held a $300 investment in anything while it sailed through $5000, or $10,000, $50,000...

I wouldn't be so sure.

Granted, some of the people who have stayed in Bitcoin that long forgot they had them

[Country]

As for me, I'm getting more interested in GOLD and SILVER right now than I have for years. PMs at spot or less - sounds good to me. 90% at spot - not too many years ago think of the premium you had to pay on these. BITCOIN and kryptos and the stock markets have been great moneymakers the past few years. However, when most are tossing their PMs away to buy more of what's hot today, it's probably too late in the game. Markets, whatever you like to indulge in, all have their day in the sun. I'd say the gamechanger is going to be the USD. If it continues in its plunge this year, the big money will be moving to alternatives - commodities like PMs, oil, and base metals and the like. Why not, it's time for a change don't you think?

[Recyclersteve]

Yup. Buying 100 Bitcoin at $3 ($300 bet) and hold it until today $10,500, would have been really dumb. You would only have $3,150,000 worth of bitcoin. Yup, a $300 bet totally wasted.

Respectfully, this is one of those academic (theoretical) comments that just doesn't hold up in the real world. There might be some urban legend about this happening. I've talked to over 100,000 investors of all types and can't think of anything that has really happened that even approaches this. I do remember speaking to a few people who bought Apple under $1 a share and still have it, but even that isn't close to your Bitcoin example.

Remember, making even 10% should normally be considered a very solid investment return for a YEAR whether it be in stocks or even real estate. When people start talking about making that much in a day, that just isn't normal. In some cases, 10% a year even indicates a much higher degree of risk (such as stocks that pay 10% dividends but don't earn enough money to support paying the dividend and have to borrow to continue the dividend).

When bank CD's were paying over 10% a year in the early 1980's, it was because inflation was even higher than that. So people felt great about earning 10%, but were losing out to inflation.

Yes, there are exceptions such as a coin dealer who buys something and marks it up and makes a 20-30% profit in a day. Also, if you find a silver half in a roll you get at a bank, you better be able to make way more than 10% on it in short order! But that isn't what I'm talking about. I'm talking about more mainstream investments.

[Treetop]

I almost bought bitcoins when they were under 2 coins for a buck. I briefly considered putting 1k in them. I didnt trust the exchanges and found it a bit to complex to secure them and such. I honestly dont think of it as some huge loss though even though it would be worth millions today because I absolutely would have sold when they were a couple bucks a piece, unless I like lost the pass codes but found it later. This is one of the things I find so odd about this whole thing. It makes no sense to me how 1k from 10 years ago or whatever it was is worth millions now. Especially when there are so many other cryptos. Ive heard all the reasoning people have but none of it holds water for me. I hope all of you make out like bandits with this though. Would be fun to hear the stories. Im half tempted to throw 1k at some upstart "coins" here when we get our taxes done. Like maybe pick 4-5 of them and divide up the 1k just for fun. From what Ive read lots of these go up by 10x right off the bat. lol if I did do that and it worked Id just buy some silver and bury it like a pirate. lol

Im hearing way to many stories of people putting second mortgages on their homes for this and the like.

[Recyclersteve]

I'm reading that (on paper at least) Ripple co-founder Chris Larsen was worth $60 BILLION dollars recently, making him at that time the 7th richest person on the planet. In just two days his net worth was down to $16 billion, so he lost $44 billion in just two days.

The point is this- even now with $16 billion in paper wealth, who would ever want to buy this from him? If he even sold a fairly small amount you would think word could get out about his selling and that could cause Ripple to fall even further.

I guess that is what they mean by the "Ripple effect."

[IdahoCopper]

Yup. Buying 100 Bitcoin at $3 ($300 bet) and hold it until today $10,500, would have been really dumb. You would only have $3,150,000 worth of bitcoin. Yup, a $300 bet totally wasted.

Sure. Maybe in some fantasy universe that could happen. In the real world, anyone investing $300 would bail on the first downtick after hitting a couple grand. Nobody (read "nobody ever") held a $300 investment in anything while it sailed through $5000, or $10,000, $50,000...

There are circumstances.

I personally have a wallet with 4.75 BTC, now worth $56,000. My cost on those was about $1,700. The password is lost to that wallet so I can't access that value.

It is estimated that up to 20% of all Bitcoin is lost or inaccessible. When quantum computers get up to speed, it may be possible to crack some passwords. However it will be a race between the legit owners and the criminals.

[Thogey]

I personally have a wallet with 4.75 BTC, now worth $56,000. My cost on those was about $1,700. The password is lost to that wallet so I can't access that value.

That has got to really suck.

[everything]

To keep on topic I have bought silver this year, I think 22 oz. total so far. I'll still buy 100 oz. silver an at least 1 oz. gold every year. Not a big buyer.

Litecoin founder quite recently finished selling his lump, yeah, and he sold it piecemeal, their were some buying dips while he sold off, these guys are on the inside, they know what they are doing. Many are certainly making money trading now, it's one big pile of ponzi.

I'm reading that (on paper at least) Ripple co-founder Chris Larsen was worth $60 BILLION dollars recently, making him at that time the 7th richest person on the planet. In just two days his net worth was down to $16 billion, so he lost $44 billion in just two days.

The point is this- even now with $16 billion in paper wealth, who would ever want to buy this from him? If he even sold a fairly small amount you would think word could get out about his selling and that could cause Ripple to fall even further.

I guess that is what they mean by the "Ripple effect."

[InfleXion]

Yup. Buying 100 Bitcoin at $3 ($300 bet) and hold it until today $10,500, would have been really dumb. You would only have $3,150,000 worth of bitcoin. Yup, a $300 bet totally wasted.

You must not have grasped my point which is that there is no price point that would make it worth it to me. Preserving freedom includes not funding the mechanisms of slavery. A penny is too much. You couldn't pay me to ride this deathtrap.