Same goes for buying significant Apple or Amazon stock in the late 90s and holding until now.
For you. But I know quite a few mid 30s retirees.
I agree that a lot of people seem to have a problem with impulse control and trusting their own valuation, when everybody say "it's wrong - it's a fad - it's tulip/beanies".
Eventually you tune out everyone and learn to laugh all the way to the bank at the HN nonsense.
BTW I wouldn't dismiss DOGE as a fad if I were you. Same mistake again and again on HN: regular people doing something? They must be wrong!
Turns out regular people want a crypto they don't feel bad about, and that's not owned by big banks like BTC/ETH or anarchists like XMR/ZEC. There aren't many that can deliver, and DOGE is one of them.
Do you have a position, or are you planning to fail again?
Because the WSB mob is out for blood, and if GME is any sign, they are foaming at the mouth. DOGE should have been a simple pump, but it's still around 900 sats
I give it 3 days (time for the deposits to clear and for people to coordinate) until it starts again.
Redditors have stated their goal: parity to the USD. They are half way though.
> There aren’t many Bitcoin millionaires through speculation or early mining alone.
The best way not to win is not to play, alleging it's psychologically and economically impossible.
EDIT: for the reply with a quote of DOGE in cents: They just did a 10x event. All they need is another 10x event to get DOGE on par with USDT.
They have already done one with minimal coordination and media attention, so I call that half way through because they already did half the work. It was done in a few days, thus a log scale seems applicable.
Of course, if you care about the linear value in fiat currencies, we have different values, so you may prefer a different choice of words.
Uhh what? It didn't even reach 0.1 USD.
Nah, it doesn't eat at me, only when a story like the one in this thread comes up. :/
The reality is that I was 25 at the time and knew absolutely nothing about the financial industry. I still know next to absolutely nothing, but I was serious about being happy to have learned some things due to playing with BTC. I consider it a fairly inexpensive lesson in how it all works... I'm no good at trading, but to this day I can follow stories about the markets a little better than I would have otherwise. I also learned that trading was fun! It almost gave me an appetite to get more into it, but I realized that at the end of the day I prefer spending my time making functional things than pushing money around.
The other thing that got me to stop was after trying to get into algorithmic trading, which I just couldn't get to work for me, I finally did a basic correlation analysis on prices and realized there is far more noise than signal into those indicators. Obviously there are ways to predict and profit, but I realized it was far too subtle an art for me, and I moved on to other interests.
But I also know that even if I'd made double that, I'd never have had the nerve to hold for a decade. The only way I would have made any serious money would be by forgetting about them.
On the other hand, if everybody had held from the beginning, would this have happened?
:(
+1 on the lessons learned, now I just need to loosen up and accept a tad more risk in my life.
Unfortunately, that wasn't enough, and in retrospect I should have bought $100 of it to hold, but I don't regret not just HODLing back then. The times were different.
oh well, at least those steam games were played.