Was anyone else long on Bitcoin Cash before today?

All of it.

 

My daddy taught me never to gamble what I wasn't willing to throw away.

 

Mine too.

When I lived in MS (where my dad is), that was our “thing”. We went to the casino every week. But i took a set amount of cash and if/when it was gone, we left.

 

that's how i always played poker when i was going pretty regularly. never re-bought, ever. 2/5 with $600 in my hand and if it went, it went. i'd lose it 1 out of every 6 or so times, the other 5 times i'd at least double it, if not more. that was a nice year of supplemental income. all about self control.

 

Well, that was my point.

If I had $100,000 I was willing to lose, it would be much easier to bet a longshot unknown and win every now and then.

 

funny thing about that... BTC created to get away from global banking/government controlled currency... measures itself against USD currency haha. if BTC had actual value, it'd be talking about "things" being worth x amount of BTC. still talking about BTC being worth x amount of USD. until that changes...

but yea sure, for a store of money... as long as everyone keeps believing, i guess you're ok. whoever waits until people stop believing... well like 2/3rds of them, are getting hosed. you bring up a point though that is potentially the MOST interesting aspect so far to me: look at all this fucking money just LOOKING for a place to go. that is the most impressive part to me. there's a sizable part of the global population that just has money to burn and wants it in something worthwhile (and obviously profitable). from that aspect, i'd rather feed something new than feed "too big to fail" huge companies that are super entrenched. but i dunno... that's where i'm at right now, just "i dunno"... think of what all this money could do, tangibly... if it had a cohesive direction for some viable physically real creation or business.

 

pretty much the core principle of VC... but then that's why making the first million is the hardest they say haha. if you could throw $100k at 12 different ventures, and 2 of them paid off 1000x and the others failed, you're still gonna be aiit. if all you had was $100k, probably not gonna wanna throw it all into a single wishing well. that's just life.

 

Exactly.

I’ve said the same thing with a lot of the stocks I play with. Looking back, it’s easy to say “damn I wish I woulda dumped $10k in that one, right now I’d have....”.

But I’m also not willing to lose $10k, so it is what it is. Like you said, you have to be willing to lose it all.

 

You're still talking too many zero's for me. Need to get down to one, two max.

 

Haha well, get into the micro loan business? You dont see me with that kinda money, or i wouldn't be going to a damn day job

 

Dad had another lesson on stocks - if you buy $1000 worth of a stock, and the price goes up and your $1000 of stock is now worth $100,000, you still haven't made shit until you sell it.

 

Haha, that’s true.

I don’t play with mine much. Especially because most of mine are oilfield related, and being in the industry i know they are all still at the bottom.

There have been times when I’ll login to Robinhood and see that I’ve jumped up $2000, and I could sell some, but I don’t. I just let it ride. I know that they are all still hovering around 10-30% of what they were worth 4-5 years ago, and the oil market is past the downturn and on the way back up.

So I’m in it for the long haul. I’ll let them sit till oil reaches probably $80-ish/bbl (depending on a few other factors), and unass all of it then.

 

Did Dad say "You wont go broke taking profits" too?

 

This.

As of right now it just seems like a solution in search of a problem and is still based on far too much voodoo for me.

 

I see next week CBOE will allow options. So with people having the ability to short it, I wonder what will happen.

 

Thought they were resisting that due to the transactions taking so long.

 

My daddy always told me if I wasn't in bed by 10pm just to come on home.

 

Well, that's the other part of what he said about buying stocks - no matter how low the price drops, until you sell, you're still in the game and haven't lost shit.

 

You were given bad advice...

 

yeah so I had bought some stock awhile ago... doubled my money quickly so sold 1/2... then rode the rest down to eventual delisting...lol. The guy who recommended it to me bet his whole egg on it...lol.