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Comment by anm89 | Hacker News Reader

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anm89·

Oh yeah, bitcoin is only up 700% over the last 5 years after just crashing out. What a bunch of suckers.

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Meh, since 2017 - on a monthly DCA strategy (with no sells), annualised returns are;

- BTC 15%~

- ETH 35%~

700% cherry picking the data / lacking info on the trading start.

(Above numbers assume you buy at open price 00:00 first of every month)

compounded back to back for 5 years ... I mean, that's incredible performance. and it's performing worse than it's cycle average right now

Trees don't grow to the sky

But Bitcoin has grown 700% despite your empty quip.

I don't think you understand the concept of a hedge. Bitcoin boomed at the same time as the stock market. It cratered at the same time as we fell into a bear market. That's the exact opposite of a hedge. That's a leveraged gamble.

I don't know much about finance, but don't you want something that everyone will want in a "rush to safety"? Safe is not the first word that comes to mind with Bitcoin

I know I’ll get downvoted by bitcoin shills like you, but if you had bought bitcoin in Dec 2017, you would have lost money even after holding for 5 years.

By all means, invest your life savings in Bitcoin for the next 700% percent rise. My "empty quip" is a bit of investing wisdom that has long been repeated on Wall Street.

Bitcoin is only up 350% over the last 5 years. There have been many stocks that put up better returns over the same period.

Pick your starting points, if you go back about a month or two from now it's closer to my number. If you pick the worst days it could be close to 0. The point is you would have had to have been buying in at peak hype not to get amazing returns.

What if I spend Bitcoin on a pizza? Why should that turn me into a sucker?

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