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Comment by drKarl | Hacker News Reader

They just need to keep buying the dip

If they buy the dip enough times, eventually they'll hold a monopoly on the world's supply of dip. All the other countries will come begging as their dip reserves run dry and the prices of their goods, unable to decrease, succumb to hyperinflation. We'll see who's laughing then!

I tried this once when I was little, but dip tends to go bad pretty quickly so you need even more dip to cover up the older dip and soon you've spent all your money on dip but no one wants your old dip

You just weren't repackaging your old dip in enough layers of sufficiently abstruse financial instruments to convince people that they did want it. It's all about marketing.

"The market can remain irrational longer than you can remain solvent."

Probably applies. Except that "rationality" is not a part of the BTC market....

This is good for dipcoin.

Yes, and soon a hedge fund can go and acquire the full country at bargain basement rates!

Most definitely. Bitcoin has never gone up 10-20x in a short timespan before. It will never happen!

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

Also GameStop.

Not to mention the lottery. A lottery ticket can go from $1 to several millions in a split second.

I love how that video is from 2015 when the price was $200. Two major bubble expansions later, and literally 100x higher BTC price, and people are still saying the same dumb thing.

I would never suggest that anyone gamble on cryptocurrency that they can't afford to lose, but all of these El Salvador buys are less than a year old. People in this thread are ridiculing buys that wouldn't even qualify for long term capital gains. This is the kind of short-term short-sighted thinking that causes people to make terrible financial decisions, like panic selling.

Warren Buffet has the famous saying "The stock market is a device for transferring money from the impatient to the patient." If you can't think in terms of 10 year horizons for your investments, you probably shouldn't be doing it.

Yes.

I'm no fan of BTC, but this is BS.

The last dip lasted 2 years, if you bought at the wrong time.

In 2-5 years we can talk, lol

> if you bought at the wrong time.

That's the problem; no one can predict when the right and wrong times are.

Buying at all time highs after a parabolic move upwards is the wrong time to buy and hold, not because a loss is certain, but because it is probable.

For sure, going all in on anything when the price is within 5-10% of the all time high is just crazy. Maybe doing regular small buys to Dollar-Cost-Average your way in isn't so bad. Better than not holding anything of something you like, but the closer to ATH the buy is, the riskier it is.

And that hedgefund is called, the International Monetary Fund (https://en.wikipedia.org/wiki/International_Monetary_Fund).

Sour cream and onion, thanks!

No they need to buy BBBY.

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