Crypto

Buying the dip

I’m about to load up on bitcoin & hold it until I’m 60+ (24 right now). I believe it’s the present & the future. I wonder what it will be worth in the future and how much it will change the world. We are still at the beginning believe it or not.

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25 Comments

  1. Hold till you are 60 so you can’t truly enjoy your wealth? Hold till you feel like you can live a comfortable life and enjoy wealth while you are young and full of energy.

  2. I love this post

    Well done OP – I will do the same

    But when we are 60 – crypto will be the new normal – so no need to swap it back to FIAT!

  3. If you are in the USA, start reading about self directed ROTH Ira’s. That’s all I’ll say.

  4. You got the right idea. Keep yourself humble and focus on your career.

    Whatever the fuck bitcoin does, don’t ever tell anyone you own it, until your kids are 24 like yourself.

  5. I’m holding till 60 too..

    60 months from now lol. Gotta enjoy it at some point and I think it’ll be huge then.

  6. It’ll be worth millions… Or so says the prediction that it will be digital gold! See you in the future!

  7. The long term average ROI for holding Bitcoin is about 100% per year.

    So, let’s take $1000 and double it each year for 20 years…

    ​

    $1000 * 2^(20) = >!$1,000,000,000 (one billion)!<

  8. i think investing and using 10% max of your btc for circulation (in a few years when purchasing with btc is normalised) seems like a relatively smart idea.

  9. My only worry is an end of the world scenario. I would want to try and survive as long as I could and at that point earth would be blown back to what it was like during pre-industrial revolution times.

    How would BTC have value then? We would probably use food and clean water as currency. (and drugs) I would totally mow a yard for an Oz of some sticky nugz.

  10. Ive got some I’m holding and some I’m allowed to touch. I’ve gotten myself out of quite a few jams with my extra sats

  11. If you buy 1 bitcoin now, in 40 years it will be worth exactly 1 bitcoin.

    If you actually believe in the value proposition, you know that whatever it’s worth won’t be enumerated in pathetic fiat

  12. I fear a strain of virus that transcends normal conceptions of age involved lethality may be unleashed into society within the next ten years. Science has gone to far and world powers far more wicked. The media will be paid to run cover for it’s origins.

  13. This is a stupid strategy. Over time, yes, you will most likely make a significant profit but there’s no nobility in holding forever. The market works in cycles – and they’re not 36 years long – so you should buy and sell in cycles, too.

    Holding forever is a nice idea, but not a very smart one, if your goal is to make money.

  14. I miss being young and naive.

    Your mindset will probably change over the years from unexpected expenses (sickness, emergencies, helping family, etc), things you will want to buy (a cabin, nicer car, flying lessons, etc) and through fear (having x amount and being scared it plummets 90%).

    I’ve been in Bitcoin for over 7 years and initially, said the same thing as you. I still have a nice portfolio but after 2 cycles of seeing it crash from ATH, I took some profit this time around.

  15. If you had purchased bitcoin 3 months ago – when it was over $60k a bitcoin, you’d be a bit pissed off this week now it has dropped back to under $30k.

    So the big question is: in the next 3 months, 6 months, 1 year or 40 years – will it go up or down?

    Far too volatile for me I’m afraid and if you plan on putting regular amounts away into it, you are riding all those vagaries!

    If you want a good long term investment – you’d be far safer investing regularly into property!

  16. Hopefully. You never know, could crash completely or be banned globally. Don’t invest in risky vehicles what you’re not able to lose. Bitcoin is very high risk.

    For example, there’s the possibility that Bitcoin was created by the CIA, and that they have a backdoor to every private key. If something like that became public, Bitcoin could crash over-night.

    Like in this instance:

    https://www.theguardian.com/us-news/2020/feb/11/crypto-ag-cia-bnd-germany-intelligence-report

    Don’t invest your entire retirement account, and have no back-up plan should shit hit the fan. You don’t want to be 65 and not have a penny to your name.

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