crypto currency

[QuarterMillionMan]

My seed phrase is written on paper. Should a fire occur my Ledger which has $62,000 will be lost. For $20, I'll be buying a metal seed phrase plate where I'd etch my seed phrase onto the metal plate.

[james.hendrickson]

Has anyone ever held a bitcoin in their hand? I'll leave it at that.

Anyone invest in the hawk tuah crypto? That worked out well for everyone.

No doubt, most crypto tokens are basically worthless. BUT - the incoming administration is pro-crypto and pro-tech, which means a favorable regulatory environment for those currencies that are legit, such as bitcoin or Ethereum.

[EasyMoney00]

Has anyone ever held a bitcoin in their hand? I'll leave it at that.

Anyone invest in the hawk tuah crypto? That worked out well for everyone.

[QuarterMillionMan]

Bonds seems to be over-run by inflation these days. But if bonds works for you more power to you.

[james.hendrickson]

60/40 was your grand-father's investment strategy. Today I feel it's 60/20/20 w/cryptos being that last 20% (including precious metals). I'm moving towards 60/40 (in cryptos & precious metals, no bonds) but it is risky.

Why no bonds? They're an investment vehicle that's at least 2,000 years old.

[QuarterMillionMan]

60/40 was your grand-father's investment strategy. Today I feel it's 60/20/20 w/cryptos being that last 20% (including precious metals). I'm moving towards 60/40 (in cryptos & precious metals, no bonds) but it is risky.

[QuarterMillionMan]

I've been buying bitcoin at a spot price of $9000 (ie, $1000 worth + or - at a time). I have 5 different accounts (ie, Ledger, Coinbase, Robinhood, Coinbase wallet, Bit Stamp). I had Trade Station roth IRA but they abruptly discontinued cryptos and only deal with equities now. In the 5 accounts above I own about 1 BTC pooled all together. My capital investment is about $45,000, so I'm currently sitting on about $50,000 in profit (unrealized gain).

[myrdale]

Opened a bitcoin roth IRA for 2025 w/a max contribution of $8000 and bought BTC w/a spot price at about $97,000. Also, liquidated all of my stocks in another roth IRA account and in the process of transferring the funds of $52,000 into this bitcoin roth IRA. Hoping to buy more BTC before big governments add it to their strategic reserves and drive up the price.

I hope this works out well for you.

I had heard of BitCoin early on when it was <$5 per (actually around $1). I didn't think it was anything more than a novelty at the time. In retrospect I could be a retired multimillionaire had I jumped on it then. Some 12 or 15 years later I still don't feel any different. I'll feel silly when it's $1M per coin, but I still think at some point the ball has to drop and a substantial amount of wealth will evaporate into thin air.

[QuarterMillionMan]

Opened a bitcoin roth IRA for 2025 w/a max contribution of $8000 and bought BTC w/a spot price at about $97,000. Also, liquidated all of my stocks in another roth IRA account and in the process of transferring the funds of $52,000 into this bitcoin roth IRA. Hoping to buy more BTC before big governments add it to their strategic reserves and drive up the price.

[QuarterMillionMan]

Last night I fell for the herd mentality syndrome and bought at the height when bitcoin was $103,000 thinking it would rocket to maybe $110,000 or $120,000 which was only a head-fake. Today it dropped back to $97,000. Oh well, cannot cry over spilled milk and sometimes you win some, sometimes you lose some.

[QuarterMillionMan]

DCA was a separate post to the Proverbs post. But in regards to the truth bitcoin like gold and is the truth. Fiat money is toilet paper.

[james.hendrickson]

I’ll DCA bitcoin even if it means buying the top at every buy.

I like the reference to proverbs 23:23, and looked it up, but it wasn't clear what the applicability was to dollar cost averaging in this context. Can you unpack that please?

[QuarterMillionMan]

I’ll DCA bitcoin even if it means buying the top at every buy.

[QuarterMillionMan]

Proverbs 23:23 says, "Buy the truth, and do not sell it”

[james.hendrickson]

When El Salvador adopted bitcoin a few years ago I thought they were crazy. Today I now think they are smart. I need to set up recurring buys of about $500 - $1000 every month or more.

Does dollar cost averaging even work with crypto markets? I know it was developed for the stock market, but I just don't know if it applies or not.