steve jobs' pancreas
Eats Squid
He does like an each way bet50 % profit 50 % hold for the upcoming crash.
He does like an each way bet50 % profit 50 % hold for the upcoming crash.
Unless you have like a 10 year plan, you gotta take some profits somewhere. Hedge your bets and mitigate your losses (and wins).Anyone keeping an eye on a lot of the coin/tokens in the last day or so. It's going mad as, some of mine have gone up more than 50 percent today from my buying price.
Predictions on whether I should profit grab or hodl. One would believe you should take the gravy and hope for a short term drop.
Cryto experts, give me some knowledge
Yeah, that's the shot. As I got into some of the cheaper stuff gains have been high but the drops are large as well.Unless you have like a 10 year plan, you gotta take some profits somewhere. Hedge your bets and mitigate your losses (and wins).
From my perspective once I've cashed out my principle, any remaining in the game is all play money.
I don't get this.cost me nothing ... have nothing to lose now
Similar to how people say they are saving money in their bank account which pays interest (after tax) of less than (real) inflation. The opportunity cost there is real.I don't get this.
You took a certain risk with your initial capital. There is an opportunity cost to putting your money there and not somewhere else. That's a cost.
Then when you cashed out profits. It became your money. It's not separate. So choosing to buy X with it costs you exactly that amount of money. Investing your returns also risks losing those returns (plus opp cost again). Something to lose.
Personally, if I take a risk and it comes good, I can't see that win as separate from other losses. It's all one pot.
To be honest, there have been no losses. A couple months ago I had been 45% down so paper losses of well over 2k, never a loss until you sell.I don't get this.
You took a certain risk with your initial capital. There is an opportunity cost to putting your money there and not somewhere else. That's a cost.
Then when you cashed out profits. It became your money. It's not separate. So choosing to buy X with it costs you exactly that amount of money. Investing your returns also risks losing those returns (plus opp cost again). Something to lose.
Personally, if I take a risk and it comes good, I can't see that win as separate from other losses. It's all one pot.
Totally different.Is it the same mindset as when your partner comes home from the sales and says "look at how much money I saved"?
The opportunity cost in that case is another investment which would have yielded higher returns . There is an opportunity cost with every choice made in life.To be honest, there have been no losses. A couple months ago I had been 45% down so paper losses of well over 2k, never a loss until you sell.
Why I regard it as free money is because a lot of it was profit from bike parts and saved money that would of gone on weed.
I fully realise that you may have a more mercenary attitude towards life where every dollar is a loss or gain and good luck to you for it.
My attitude towards life is a bit different with many things and I only see joy in what has happened with my investment, had I put money in conventional banking and such the value of my cash would of gone down, that would suck.
Free money is good money, like pennies from heaven.
"You took a certain risk with your initial capital. There is an opportunity cost to putting your money there and not somewhere else. That's a cost."
Not taking the piss but I still don't understand the cost you talk about, risk, yes, cost, no.
Maybe they aren't investing for pure money returns. There are investments in health, lifestyle, time, etc etc. Some people see the value proposition in a brand new bike, whilst others don't. Neither are the right or wrong decision it's all up to personal circumstancesTotally different.
I don't understand the mindset of people who go out and "invest" 10k in a bicycle that is on special for 8k and tell their mates how much they saved.
2 years later they go and sell their "investment " for 6k. Now that's a true loss.
Same person could of bought a 2nd hand bike for 3k, invested in crypto with the other 5k, 2 years later they have a perfectly serviceable bike that still sells for close to purchase price and another 10k of free money on top of their initial 5k.
Just think 10k for free, you be the judge.
Yeah man, I get you. Just seems everyone looks at the dollar only.Maybe they aren't investing for pure money returns. There are investments in health, lifestyle, time, etc etc. Some people see the value proposition in a brand new bike, whilst others don't. Neither are the right or wrong decision it's all up to personal circumstances
I get the concept of paper loss. But if you hadn't invested until it had dropped, you would have made more profit. Or if you'd sold before the bottom and reinvested your money at the bottom you'd have made more too (accounting for transaction costs and any tax issues).A couple months ago I had been 45% down so paper losses of well over 2k, never a loss until you sell.
@teK-- explained this already. But as you say, could have been the bank and you make less than inflation. But equally could have been a different investment that made more (or lost it all...)."You took a certain risk with your initial capital. There is an opportunity cost to putting your money there and not somewhere else. That's a cost."
Not taking the piss but I still don't understand the cost you talk about, risk, yes, cost, no.
Yeah man, I get where you are coming from. I just take the simplistic view on life, money made, money lost. No inbetween.I get the concept of paper loss. But if you hadn't invested until it had dropped, you would have made more profit. Or if you'd sold before the bottom and reinvested your money at the bottom you'd have made more too (accounting for transaction costs and any tax issues).
@teK-- explained this already. But as you say, could have been the bank and you make less than inflation. But equally could have been a different investment that made more (or lost it all...).
I'm also not anti crypto. Or even anti a 'play money' idea, where you can take wins and losses as a game. I like a punt every now and then too. Crypto has interested me a little, but not enough to invest the time to figure out how to do it.
If I got interested enough I would totally put some money into it just to figure out how it works. There is value in the learning alone. Also value in fun/entertainment if you find it fun to watch the volatile coins bounce around. Not everything you get out of life is tangible or can have a price put on it.
But whatever you do it always costs something. Time, money, or is it 'time is money'?
Choosing to do something instead of something else... What's the opportunity cost of your time?
That was very interesting, and does show the value of a decentralised financial trading platform.This is an example of when crypt has real world usage as opposed to speculation.
Inside Afghanistan's cryptocurrency underground as the country plunges into turmoil
Afghans face a nationwide cash shortage, closed borders, a plunging currency, and rapidly rising prices of basic goods. An emerging crypto scene has helped some.www.cnbc.com
Yeah, it can certainly protect people's monetary value and take financial power away from criminal governments, that is why it scares USA and China so much.That was very interesting, and does show the value of a decentralised financial trading platform.
Taking the financial power away from despots, and giving it to each individual is essential for humanity.
I thought that would be the trend, it's like people buying gold in war times.This is an example of when crypt has real world usage as opposed to speculation.
Inside Afghanistan's cryptocurrency underground as the country plunges into turmoil
Afghans face a nationwide cash shortage, closed borders, a plunging currency, and rapidly rising prices of basic goods. An emerging crypto scene has helped some.www.cnbc.com