Posted on 12/31/2020 10:25:35 AM PST by Presbyterian Reporter
Bitcoin ended 2019 at 7,500
For most of 2020 Bitcoin prices wandered upwards until it took off during the week of September 28th when it was 10,500.
As we close out 2020 Bitcoin is 29,000.
While it will not close above 30,000 in 2020, it is quite impressive to see Bitcoin almost triple in price during the last quarter of 2020.
So sell it for REAL money before the crash.
Tulip bulbs
I remember thinking of buying it at like 20 or 30 but I said “nah!!”
Just like I said “Nah!” to buying 20,000 bucks worth of apple at 20 a share before the past TWO splits.
Just like I said “Nah!” to buying a Gold seat on the NYMEX when it was 50k. It went to a million a few years later.
Just like when I liquidated by coffee call options way back when because I read a 2 paragraph article that said it will be a bumper crop.
BACK to BACK frosts in Brazil almost immediately after. Limit up 2 or 3 days in a row.
Excuse me while I go take poison :)
That tulip bulb is being accepted on more and more sites and now there is a fund for bitcoin and it is recognized by many wealthy institutions.
And even if it was tulip bulbs, they were selling for an EIGHT of a CENT at one time.
Now they’re 30,000.
Could have retired on a dollar.
Blows the mind away
I considered buying bitcoin when it was at something like $10 or $20. I bought some later at $4000 and sold at $8000, so I did double my money. It was such a pain in the ass process to buy, I doubt I would have followed though at $10 or $20. I still own a little, my son has over 100.
When I first moved to Georgia around 1985, I bought a house and went to a new hardware store, Home Depot. I said to myself this is a nice concept and should buy stock, never did.
C’est la vie
Yes, that definitely is life.
Do you mean your son has 100 bitcoins worth 30,000 each??
That’s a lot of money.
Good for him and you.
I’m 52 and finally am willing to wait 5 to 10 years if I see something new on the horizon.
What the hell. I’ll still be in my early 60s and can have a few laughs.
Some of us grow wise too old and old too fast.
I have a pal who bot 200 BTC @ $600.
He has about a $5.8 MM profit
Vermont Lt Gave me a heads up about bitcoin a few weeks ago. I thank him very much for it.
Here’s hoping bitcoin does even better in 2021.
Yes, my son still has about 100 bitcoins; he sold about 50 over the last year and has invested in other crypto adventures. He is a real crypto nerd and does of a lot of stuff with liquidity markets which I don’t understand. He is somewhat bullish on NIMIQ, he thinks their technology is good but they may be a little late to the party.
I put some money in crypto because the upside is so huge and like you I am taking a long-term approach. I can honestly say I haven’t lost money, that’s not true of some of my investments.
Salut to both of you.
Your son sounds like he is on his way to being a very (more) wealthy man!
I am glad. :)
Ya know, I have a BIL worth almost 100 million dollars.
He’s SO cheap that we passed by a deli and he went in and came out with a coke, and never asked me if I wanted one.
He was a big commodities trader in the pit. And just knows how to make money, like your son.
But GOD he’s so cheap it hurts!
Anyway, have a Happy New Year!
Ha, about your BIL.
The thing about my son is that he is genuinely a good person, so I think that is most important. He is a naval officer but will likely get out to concentrate on his love with computers. My son does not party with the money he has made, but he did splurge and bought a Telsa.
Happy New Year to you, too!
Bitcoin’s total market cap is $350b. A sizeable chunk of that increase may be due to Chinese capital flight, as the nation’s wealthy magnates come under siege from Xi Jinping:
* It’s not even unique to China. Edward Longshanks of England deported the Jews and seized their property. Philip IV of France did the same and topped Edward by dismantling the Knights Templar, a Christian organization long involved in Crusades for the Holy Land, and seizing their property.
** It’s within the realm of possibility that Alibaba’s Jack Ma will have his $57b personal fortune seized. Any Chinese tycoon who hasn’t already taken a sizeable chunk of his assets out of China isn’t thinking long term. The lefty media has gone along with the Chinese regime’s account of this capital flight as money laundering. In reality, it’s money laundering the way white farmers taking their money out of Rhodesia were engaged in money laundering - it’s Marxist lingo applied to people who resist having their life’s work stolen from them.
I used to mine it years ago. BC had just crashed from $1000 to like $150. Just got too hard to mine though. My computer GPUs used to heat the room. I wasn’t late, but I gave up on it. Bad move.
Ypu should publish a newsletter ... call it ‘The Contrarian’. Your subscribers will read your advice and immediately do the opposite.
REAL money? You mean that stuff they’re printing as fast as they can get the paper on which to print it?
I never mined it and my son mined very little. He made the majority of his bitcoins with alt coins. He said there were so many people throwing money in alt coins a few years ago and they didn’t know what they were doing.
I mine Etherum on three mining rigs I built and put those into Bitcoin. I have nearly 110K right now. Two of my mining rigs run for free in my apartment in Arlington and one runs for around a $100 a month in NC. I am very happy with my investment. I can sell my rigs for as much as I have in them but will keep mining and have another 19 video cards ready to go into a big rig when I slow down. It’s a hobby that makes money.
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