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Comment by rqtwteye

2 months ago

After losing my first chunk of cash during 2000 .COM crash I became be quite contrarian. Thought real estate is way too high, thought the stock market is nuts, bitcoin is a scam. Turns out the big crash never happened and everything ket going up. Three years ago for some reason I jumped into the stock market, bought a house, bought some bitcoin. Turns out so far the gains have been life changing. If I ever get laid off,I may be able to just call it quits and retire.

I still think the whole thing doesn't make sense but it seems economic fundamentals don't work anymore. Everything is a bubble.

11 comments

rqtwteye

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smt88  2 months ago

You went long on some fairly general assets. That's not gambling.

The problem with gamblers is (for example) making risky bets on margin and ending up losing massive amounts of money because a meme stock lost 5% of its value during a normal market fluctuation.

BobbyJo  2 months ago

Same. Friends who just threw money at stuff are millionaires, and I'm... not. Hard to just put the money in and expect more back when it took so much hard work to get in the first place.

DonsDiscountGas  2 months ago

If you haven't already, now might be a good time to sell some of that bitcoin

  • boopk  2 months ago

    okay I don't comment on here often, can check my post history, but absolutely would not sell your bitcoin any time soon considering we have a pro crypto president and have an approx 40% chance of a bitcoin strategic reserve within the first 100 days. terrible advice tbh.

    • skybrian  2 months ago

      I think the word some is doing most of the work there. There are other investments, too, you know. Diversifying means you sleep better.

      (Also, Congress just showed that many Republicans won’t listen to Trump, or Musk, when they have other ideas.)

      2 replies →

  • raincole  2 months ago

    Yeah HN has been giving this advice since BTC was at 60k.

    And 30k.

    And 10k.

    • rqtwteye  2 months ago

      I mined a ton of bitcoin with a friend when it was really new and then forgot about it because it was useless at the time.

      I kicked myself already at 1k and would have sold then. That is, if I hadn't thrown away the disk with they keys