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Bitcoin nearly hit $20k, but is now down to $13k.

TheCatt wrote: Totally not a bubble

I saw a chart showing the growth rate of other bubbles in history and it has now far passed #2 in history which was the tulip bulb bubble. At the time I saw the chart it was almost double the size of the tulip bulb bubble.

Vince wrote:

TheCatt wrote: Totally not a bubble

I saw a chart showing the growth rate of other bubbles in history and it has now far passed #2 in history which was the tulip bulb bubble. At the time I saw the chart it was almost double the size of the tulip bulb bubble.

The entire market has dropped 25% in the past couple of days. BTC now at $12k.

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TheCatt wrote:

Vince wrote:

TheCatt wrote: Totally not a bubble

I saw a chart showing the growth rate of other bubbles in history and it has now far passed #2 in history which was the tulip bulb bubble. At the time I saw the chart it was almost double the size of the tulip bulb bubble.

The entire market has dropped 25% in the past couple of days. BTC now at $12k.

Heh... I think at the time I saw the chart BTC was around $13k, It was three weeks ago or so. Around Thanksgiving.

$11k...

TheCatt wrote: $11k...

And back to $13k 1:15 later

TheCatt wrote:

TheCatt wrote: $11k...

And back to $13k 1:15 later

Curious as to your thoughts on this Catt. Say someone had purchased a couple hundred in BTC back when it was really really cheap (May even cents on the coin). At what point would you get out? Would you have already gotten out?

Your the closest thing to a financial adviser I know that isn't trying to sell something, so that's why I ask.

I'll hang up and listen.

Vince wrote: . Say someone had purchased a couple hundred in BTC back when it was really really cheap (May even cents on the coin). At what point would you get out? Would you have already gotten out?

So, I bought some when it was cheap as well, and have been selling as it goes up. It kinda depends. Ultimately, I think bitcoin is garbage relative to current valuations, etc, but you never know when bubbles would burst, etc.

That being said, most people can afford for up to 5% of their assets to be speculative things like this or other alternative assets. I would say it depends on, lots of factors (do you need the money? How important would it be if bitcoin went back to $1000 or so? etc). A common tactic in investing is re-balancing your portfolio. So when certain assets go up a lot, you sell them and put the money into other things. That would be my general advice. If you wanted coins to be 1%, and they've grown to 5%, maybe pare back down closer to 1%.

TheCatt wrote:

Vince wrote:If you wanted coins to be 1%, and they've grown to 5%, maybe pare back down closer to 1%.

Okay, I like that. Kind of a logical formula. I don't have anything in them, but was curious as to your perspective on that. You seem to know your stuff on these sorts of things. My thinking only went as far as "once you can retire if you get out... get out".

Vince wrote:

TheCatt wrote:

Vince wrote:If you wanted coins to be 1%, and they've grown to 5%, maybe pare back down closer to 1%.

Okay, I like that. Kind of a logical formula. I don't have anything in them, but was curious as to your perspective on that. You seem to know your stuff on these sorts of things. My thinking only went as far as "once you can retire if you get out... get out".

Well, I do have an undergrad in Econ + MBA in Investment Finance. In theory, I know a lot about finances In reality, I still do some dumb things.

TheCatt wrote: Well, I do have an undergrad in Econ + MBA in Investment Finance. In theory, I know a lot about finances In reality, I still do some dumb things.

I knew you had some edgumacation in the field. We disagree on some things in other areas, but I tend to defer to you on these sorts of things. Or at least take you a lot more serious

Kodak introduces its own stupid coin that will do nothing, and that they will buy + then rent out bitcoin miners.

Stock goes from $3 to a high of $12.40



It's 1999 all over again.

Leisher wrote: South Korea is going to ban Bitcoin.

Many price exchanges already removed Korea from their prices due to clampdowns. But some prices still fell 10%-15% overnight.

TheCatt wrote: Kodak introduces its own stupid coin that will do nothing, and that they will buy + then rent out bitcoin miners.

Stock goes from $3 to a high of $12.40



It's 1999 all over again.

Actually, I was hearing about this the other day. Probably the first really smart move Kodak has made in a while. Their plan is to allow everyday joes to upload their pictures and make them searchable and available on one of the stock photo sites (Shutterstock I'm thinking, but maybe another), and if your photos are purchased as a stock image by someone you get paid automatically via their new currency. I would agree about the merits of the currency itself, but might have a better chance than a lot of the other "me too" cryptos since they have something of a marketing plan to go along with it.

Have to admit, this is way smarter than them disregarding the digital photography movement as "a fade" until it was too late.

Vince wrote: Their plan is to allow everyday joes to upload their pictures and make them searchable and available on one of the stock photo sites (Shutterstock I'm thinking, but maybe another), and if your photos are purchased as a stock image by someone you get paid automatically via their new currency

Instead of just dollars like it is today?

CRAP!

They should give out Chuck e cheese prize tickets, since they aren't using real money.

GORDON wrote: They should give out Chuck e cheese prize tickets, since they aren't using real money.

Would there be a difference?

TheCatt wrote:

Vince wrote: Their plan is to allow everyday joes to upload their pictures and make them searchable and available on one of the stock photo sites (Shutterstock I'm thinking, but maybe another), and if your photos are purchased as a stock image by someone you get paid automatically via their new currency

Instead of just dollars like it is today?

CRAP!

Dollars would be smarter. But if you're going to do something crypto, have an angle at least.