crypto currency

[james.hendrickson]

My question is about bitcoin and whether it is FDIC and NCUA insured. My instinct says that no it is not. So, what is your security if bitcoin goes bust?

Crazyliblady, there is no security if bitcoin goes bust - that's the downside.

[disneysteve]

Its amazing to me how the cryptmarkets behave....I used to think they operated like stock, but that seems increasingly less the case.

What possibly gave you that impression? Crypto and stock have absolutely nothing in common. Stocks are an investment with the value tied to the assets and performance of the company. The stock market is also highly regulated. Crypto is a totally speculative gamble. You're buying something that has no inherent value. It's a bunch of computer code that people have decided is worth something. It's not issued or backed by any company or government entity. It's not regulated. The two couldn't be more different.

[QuarterMillionMan]

Still rallying.

[QuarterMillionMan]

In the past week BTC has been rallying from about $27 to $31 today, slow but steady as she goes (not rocket moves like in the past) but enough to keep my eyes on it.

[QuarterMillionMan]

$34,000 now, time for some popcorn, lol.

[james.hendrickson]

Totally, a lot of naive buyers will get sucked in now.

[QuarterMillionMan]

Ha-ha, very true, the FOMO (fear of missing out). Today I made $2557 in a on- day gain but as fast as it shot up it could drop just as fast or even faster. It's so volatile. This is just my Ledger acct. Haven't checked my smaller accts in Coinbase, Robinhood, Trade Station, and Coinbase Wallet.

[QuarterMillionMan]

10 minutes after my last post, I made another $400 (now $3000 gain in one day). Popcorn is tasting mighty fine about now, lol.

[QuarterMillionMan]

Full disclosure 24 hours later from $22,314 - $21,646 = $668 loss. So yesterday's $3000 unrealized gain minus $668 loss today is still a $2332 unrealized gain which is still good but that's the way it goes sometimes.

[QuarterMillionMan]

1 day unrealized gain almost $1000. Since my last post in Oct 2023 almost $5000 unrealized gain.

[QuarterMillionMan]

15 minutes after my last post my 1-day gain is $1295 now, wow.

[QuarterMillionMan]

My weekly unrealized gain is approaching + $4000, I'll be busting out the champagne tonight, although tomorrow it could drop like rock and I'll be back drinking Miller High Life, the champagne of beers. My mistake though all along I've been buying silver coins when I should have been buying more bitcoin.

[disneysteve]

My mistake though all along I've been buying silver coins when I should have been buying more bitcoin.

And I should have bought Apple and Amazon 20 years ago.

Most of the time speculation doesn’t pay off but occasionally it does.

[LivingAlmostLarge]

And I should have bought Apple and Amazon 20 years ago.

Most of the time speculation doesn’t pay off but occasionally it does.

I read something like return on amazon since it IPO 178141% total return or 32% annually. Look it up. Crazy.

[QuarterMillionMan]

Salting the wound, lol.