The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Damn you crypto

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

ljean

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 22, 2017
436
701
301
USA
I doubled a small investment in crypto last year. I ended up pulling my cash out about 6 months ago after the market was dead. But now there are signs of life again I have FOMO...sonovabitch.
 

jpmartin

Jedi Master
I've Read UNSCRIPTED
Sep 7, 2013
297
241
120
I doubled a small investment in crypto last year. I ended up pulling my cash out about 6 months ago after the market was dead. But now there are signs of life again I have FOMO...sonovabitch.
Here, this will help you. And if that doesn't this will.

I speak from experience, and if that doesn't satisfy you - then I have the results! :D
 

GPM

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 25, 2012
1,103
4,444
1,015
Canada
You are just gambling. And when the crypto market drops again are you going to be thanking your lucky stars that had you gotten out? Or will you buy at the top and then sell at the bottom and be saying the same thing over again?
 

ljean

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 22, 2017
436
701
301
USA
Yes it is pure speculation and I know how to trade. When I pulled my money out I assumed it would be a very long time before they did anything interesting again. I still think the chances of them all going to $0 at some point is probably 50/50.
 

jpmartin

Jedi Master
I've Read UNSCRIPTED
Sep 7, 2013
297
241
120
Yes it is pure speculation and I know how to trade.

We all know how to trade. But what's important? Being right or making profit?

I still think the chances of them all going to $0 at some point is probably 50/50.

If you think it is going to zero, why not short it? You can do that using futures.
 

Pedro Henrique

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jul 20, 2016
82
44
63
Brazil
In crypto you have to invest just the money you wont use for a time, I made 40% of profit these day after the bitcoin has gone up, but my money is in since last year
 

James Fake

Gold Contributor
Summit Attendee
Speedway Pass
May 4, 2009
1,496
2,222
581
Las Vegas, NV
Yes it is pure speculation and I know how to trade. When I pulled my money out I assumed it would be a very long time before they did anything interesting again. I still think the chances of them all going to $0 at some point is probably 50/50.

Good traders know a) You don't ever really "miss" a trade, there will always be another one right around the corner.. and b) Know to contradict their emotions (if feeling FOMO, then it's likely the price moves will only have temporary staying power).

With that said; imo, you are not missing anything. This last surge is doing exactly what it's suppose to do (and is doing) is knocking out the last ounce of "greed" in the current pool of retail traders trying to "time the bottom and catch the early bull". Once the distribution happens, it won't be pretty, and it will be the final knock out punch for retail traders.

This leaves only one type.. the investor; because they can buy & hold in a range which requires great discipline and patience. That is what a "bottom" looks like, and the bottom from a psychology standpoint hasn't happened.
 

Duck

New Contributor
Read Millionaire Fastlane
May 15, 2019
8
9
16
Denmark
Trading and speculating on Bitcoin and other cryptocurrencies should be avoided at all cost. Getting to know the underlying technology in the field and making a financial decision based on that is another thing. But whatever you do, do it long-term and with things you understand.
 

B. Cole

In thine hand is power and might.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Mar 5, 2017
595
1,917
557
40
East Coast
Yay only 10,000,000% to get back where we were, but with a bunch of additional regulation and millions of burnt, extremely skeptical people that will likely (smartly) steer very clear of crypto trading.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,533
5,698
1,314
Latvia
I rather enjoy the extreme negative sentiment here.

When you guys all turn positive let me know.

I'll place my sell orders.

Sent from my VTR-L29 using Tapatalk
 

Maxboost

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Apr 4, 2016
403
849
314
41
Trading and speculating on Bitcoin and other cryptocurrencies should be avoided at all cost. Getting to know the underlying technology in the field and making a financial decision based on that is another thing. But whatever you do, do it long-term and with things you understand.

Bulldog mindset I linked above showed that this is still a very stupid idea as there are better things to do with your money and time. Crypto is a get rich quick scheme by crypto gurus.
 

Seniorpreneur

Contributor
Aug 4, 2007
61
20
24
Edmonton, AB Canada
Bulldog mindset I linked above showed that this is still a very stupid idea as there are better things to do with your money and time. Crypto is a get rich quick scheme by crypto gurus.
Did you lose any money trading Bitcoin or any other crypto's? I traded only on the big upside in 2018? Then at the peak price of $20M US I left only $25 US in my Bitcoin account at the end of 2018. Today that small amount is worth $175 US. And I didn't lose any of the trades i made in 2018. I'm happy!
 

Roli

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 3, 2015
1,574
2,589
680
I rather enjoy the extreme negative sentiment here.

When you guys all turn positive let me know.

I'll place my sell orders.

Sent from my VTR-L29 using Tapatalk

:-D :-D My Exactly what I thought when I joined in 2015, it took 'em a while, they'll be back!

How's Estonia going?
 

ShepardHumphries

Contributor
I've Read UNSCRIPTED
Feb 5, 2020
73
96
109
My interest in speculating in crypto is philosophic, not as a short-game in trading. Having read The Creature From Jekyll Island, observing central banks, precious metals etc, crypto seems smart to me. If you are in it for the money, a mainstream option like XRP, if you want your value to increase when central banks (and the governments they control) make crypto illegal; something like XMR.

This video offers one man's global perspective, and I think it is worth pondering.
View: https://www.youtube.com/watch?v=l1si5ZWLgy0&t=789s
 

CryptoMobster

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 1, 2020
9
6
14
England, United Kingdom
Did you lose any money trading Bitcoin or any other crypto's? I traded only on the big upside in 2018? Then at the peak price of $20M US I left only $25 US in my Bitcoin account at the end of 2018. Today that small amount is worth $175 US. And I didn't lose any of the trades i made in 2018. I'm happy!

That is really good work to say you lost 0 trades
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,533
5,698
1,314
Latvia
:-D :-D My Exactly what I thought when I joined in 2015, it took 'em a while, they'll be back!

How's Estonia going?

Sorry, just saw this. I'm not on the forum very often.

I was too busy making money in crypto.....

But short answer, the mine is going great. We literally earn cash multiple times every single day.

We compound our returns by building nodes.

I will reiterate my earlier sentiment though. When all of you that are so negative on crypto turn bullish, please let me know so I can place my sell orders.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,533
5,698
1,314
Latvia
My interest in speculating in crypto is philosophic, not as a short-game in trading. Having read The Creature From Jekyll Island, observing central banks, precious metals etc, crypto seems smart to me. If you are in it for the money, a mainstream option like XRP, if you want your value to increase when central banks (and the governments they control) make crypto illegal; something like XMR.

This video offers one man's global perspective, and I think it is worth pondering.
View: https://www.youtube.com/watch?v=l1si5ZWLgy0&t=789s

Agreed. Crypto is without a doubt the future of money.

I predict having a bank account in 10 years will be a novelty.
 

nordien1978

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 5, 2013
29
38
26

Kelvin Fernandez

Some Profound Quote Goes Here
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 26, 2016
719
1,424
441
29
Rice, Texas
I got caught up in the crypto hype because I had coins from 2010 that I sold in 2015. Than I saw them rise to $20k a coin an I thought it would go to 100k a coin.

But ultimately I stopped with the insanity. I still have coins and I will continue to invest in crypto because I like the technology and the philosophy of what the blockchain is.

But if I were you I would not invest any more money in it specially with this pandemic real or not it's going to bring a lot of changes in the upcoming years.

How long have you been trading and what style of trading do you do?
 

ShepardHumphries

Contributor
I've Read UNSCRIPTED
Feb 5, 2020
73
96
109
I agree that it is a speculation. I also think from a macro-economics perspective that the current US monetary system is not great, the centralized digital currency replacement, which will still be a central banking scam, will be worse, and I think there could be something smart about "doing the right thing."

Every time I watch this video I think, "There is something to it."
View: https://www.youtube.com/watch?v=l1si5ZWLgy0&t=797s
 

Sponsored Offers

MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Cool - glad to have you. And yes it should help a lot. When you are in the new group just post...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
Hey everyone, I have a big announcement to make about how we are going to be working with...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...

Forum Sponsor

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom