Bitcoin is at an All Time High

Beezer

Beezer

Well-known Member
Do you have any in your portfolio?

My brother bought me a $50.00 share for a Birthday present years ago. I figure it's worth about $1500.00 now.
 

Beezer said:
My brother bought me a $50.00 share for a Birthday present years ago. I figure it's worth about $1500.00 now.
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Let it ride or cash out

Bitcoin is at an All Time High​

Not a good time to invest
 

When you say he bought you a "$50 share", was it one whole bitcoin or a partial (some places sell partials)? If it was $50 for one Bitcoin and it's now over $73,000...heck, I'd cash out at least some of that! Bitcoin value really seesaws. I wish I had invested in a couple when I first heard about it, but there was a lot I didn't understand. I believe the price wasn't even $10 then. 😒
 
Bitcoin is a speculation in my opinion. I know people who rode it down from above $60,000 to $16,000. And now are riding it back up. So be prepared for a lot of price volatility. I would only invest play money in Bitcoin.
What I don’t see is any real value in it. It produces nothing of value to me. It’s an alternative to traditional banks but the price volatility makes using it as a medium of exchange very iffy. Also, unlike traditional bank and brokerage accounts you have fewer legal protection in the event some crook loots your Bitcoin account. I am not a lawyer and that is my understanding. Look up Mr. Bankman-FrIed.

Anonymous sources cited by Reuters stated that, earlier in 2022, Bankman-Fried had transferred at least $4 billion from FTX to Alameda Research without any disclosure to the companies' insiders or the public. The sources said that the money transferred included customer funds and that it was ostensibly backed by FTT and shares in Robinhood.[80][81] An anonymous source cited by The Wall Street Journal stated that Bankman-Fried had disclosed[where?] that Alameda owed FTX about $10 billion, which was secured through customer funds held by FTX when FTX had, at the time, $16 billion in customer assets.[82] According to anonymous sources cited by The Wall Street Journal, the Chief Executive of Alameda Research, Caroline Ellison, told employees that Bankman-Fried was aware that FTX had lent its customers' money to Alameda to help it meet its liabilities.[83]
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If you make a fortune on it, great! But, don’t bet your retirement on it.
 
Gary O' said:
Let it ride or cash out

Bitcoin is at an All Time High​

Not a good time to invest
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Very true. At these prices a person is buying high and I assume hoping to sell higher. The time to buy bitcoin was when it was under a measly $20,000 a coin. Maybe. If you aren’t bothered by risk and volatility.
 
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Talking of Bitcoin ....

A computer expert who accidentally threw out his Bitcoin fortune has seen its value rocket to be up to £1.5billion - and has launched a legal fight to get it back.

Early crypto investor James Howells, 38, made the calamitous mistake ten years ago when a misunderstanding saw his partner throw out as rubbish a black bin bag in which he was temporarily storing the hard drive containing the only access to his crypto assets.

Distraught James has been trying to recover the disc from the council run dump ever since - and has now taken legal action to get access to search the dump.

But cruelly James has now watched the value of his lost 8,000 coins go up almost 40 per cent in the past month alone - meaning they are now worth more than £450million.

He told MailOnline last night: 'Some experts believe that by the end of the year the price will rise to $25,000 per coin. That would make my hard drive worth £1.5billion. The council may be happy to leave that in a landfill but I'm not.

'They want me to go away and forget about it but how could anyone? Why should I back down? All I want is a chance to get my property back.'
82504653-13201007-image-a-4_1710502617274.jpg

82504741-13201007-image-a-5_1710502963688.jpg

Distraught James has been trying to recover the disc from the council run dump (landfill site in Newport, Wales pictured) ever since - and has taken legal action for access to search the dump
82504743-13201007-image-a-6_1710503183318.jpg


he said he was temporarily storing his hard drive containing the only access to his crypto assets in a BLACK TRASH BAG... and his gf threw the trash bag out...:ROFLMAO::ROFLMAO:
I can't stop laughing... how could anyone be soooo stupid ! ?


Man who binned £1.5BN Bitcoin drive launches legal fight to dig dump
 
My wife bought Bitcoin in March 2022. Yes, 2 years ago this month. I told her she was nuts. Now, I have to hide in shame.
I wonder if she knows this? She won't be home until next Thursday.

I was buying Dogecoin, but it moves so slow and you have to buy a ton of it to make any real money.
 
hollydolly said:
Talking of Bitcoin ....

A computer expert who accidentally threw out his Bitcoin fortune has seen its value rocket to be up to £1.5billion - and has launched a legal fight to get it back.

Early crypto investor James Howells, 38, made the calamitous mistake ten years ago when a misunderstanding saw his partner throw out as rubbish a black bin bag in which he was temporarily storing the hard drive containing the only access to his crypto assets.

Distraught James has been trying to recover the disc from the council run dump ever since - and has now taken legal action to get access to search the dump.

But cruelly James has now watched the value of his lost 8,000 coins go up almost 40 per cent in the past month alone - meaning they are now worth more than £450million.

He told MailOnline last night: 'Some experts believe that by the end of the year the price will rise to $25,000 per coin. That would make my hard drive worth £1.5billion. The council may be happy to leave that in a landfill but I'm not.

'They want me to go away and forget about it but how could anyone? Why should I back down? All I want is a chance to get my property back.'
82504653-13201007-image-a-4_1710502617274.jpg

82504741-13201007-image-a-5_1710502963688.jpg

Distraught James has been trying to recover the disc from the council run dump (landfill site in Newport, Wales pictured) ever since - and has taken legal action for access to search the dump
82504743-13201007-image-a-6_1710503183318.jpg


he said he was temporarily storing his hard drive containing the only access to his crypto assets in a BLACK TRASH BAG... and his gf threw the trash bag out...:ROFLMAO::ROFLMAO:
I can't stop laughing... how could anyone be soooo stupid ! ?


Man who binned £1.5BN Bitcoin drive launches legal fight to dig dump
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I remember this case. He's still at it huh. I bet he was kicking himself when he realized what he had done. If I recall correctly, when I first read his story, his Bitcoin value was between $700,000 and $800,000. Since then, it did a big dip and is now back up there. I wonder if the disk is even still there. Your new avatar is cute HD.
 
A certain well known and respected member of the tech blog-o-sphere admitted to buying some bitcoins years ago when they were relatively very cheap. He promptly forgot about the purchase until Bitcoin took off a few years ago. Unfortunately, the information needed to access his Bitcoins was one hard drive, which he reformatted and reused a while back. The Bitcoin information has been written over by other data and is impossible to get back. So, over $100,000 in Bitcoin wealth sits there inaccessible by anybody including the owner.
 
Nope, was never interested. We use a professional CFP firm for our investment portfolio and are happy with the results. We never needed to play the game of "who has the most $$$$$$$?" Spouse and I long ago decided that a good work/life balance was worth more than killing ourselves on high-stress jobs with 10- and 12-hr days, 6 days a week.

That was actually our reason for doing serious financial planning. We made a lot less than most of our friends and family, so we figured we'd better plan for the future (no kids, so nobody to take care of us).

Everything worked out okay so no complaints, despite no investments in precious metals or cryptocurrencies. Just boring equities and bonds, in a moderately aggressive risk profile that has since been dialed down to balanced 60/40 allocation.
 
OneEyedDiva said:
I remember this case. He's still at it huh. I bet he was kicking himself when he realized what he had done. If I recall correctly, when I first read his story, his Bitcoin value was between $700,000 and $800,000. Since then, it did a big dip and is now back up there. I wonder if the disk is even still there. Your new avatar is cute HD.
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thanks Diva..it's just an Oirish Lass for St Patricks day...🍀☘️🍀
 
Lyra said:
It’s never too late, but it’s too hard for you to enter the market now because it’s so expensive
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I would never invest in Bitcoin now, once it got above the $60 per coin, it was a no go for me. :LOL: Even if the value plunged, I can't see it going below a couple of thousand a coin. I do have a few shares of crypto based ETFs however. At this stage of my retirement (26 years), I'll stick to my tried and true investments.
 
Lyra said:
This is cool and smart. Everyone has their own reasonable investment portfolio. You can learn new knowledge, but don’t try to enter a market you are not familiar with. You will lose all your money.
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I am a self taught investor who has been in the market for 40 years. I've learned a lot, some from making mistakes that I will never make again. In fact, I'm considered the "investment guru" for my friends and family. I've used then dropped several brokerages along the way, including Vanguard and Fidelity, until I found the one that works best for me....Schwab. My investments have done very well over the decades despite a few crashes. I invest for the long haul and do not jump in and out of the market because of severe downturns. In fact, I use those crashes to my advantage and buy more shares of my best performers during those times.

Nice discussing the market with you Lyra. One of my favorite subjects is saving-investing and it's actually what kept me here on SF for the first year. Not many in person friends want to discuss these things, partly because the old rule was that it was rude to discuss money. But in fact, some are intimidated by the subject or are just not in a position to even make investments.
 

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