[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 220 KB, 641x355, 65864753643253.png [View same] [iqdb] [saucenao] [google]
50873125 No.50873125 [Reply] [Original]

my savings have depleted rapidly

>> No.50873462
File: 490 KB, 1638x1384, LINK VS XTZ.jpg [View same] [iqdb] [saucenao] [google]
50873462

Better to have a crypto buying addiction when the market is down rather than when it is up, that is natural and healthy.

>> No.50873627

>>50873462
i own both of these, what am I in for?

>> No.50873737

>>50873627

Well Chico crypto seems to think Sergey will announce staking at the upcoming smartcon event so looks good. Oracles sexy for stuff, WEF/Google people interested.

For tezos, I have been happy to buy it because they have a large amount of funds in their war chest (so difficult for it to fail?). I am also seeing it get good exposure as a low cost option for NFT drops (as seen by Marina deciding to mint her first NFT there). With Ethereum staking coming next month, I expect ETH to pump. And perhaps when ETH pumps, alternative layer 1s like XTZ could appreciate too.

I got 5k Tezzies and 1k stink the link.

>> No.50873762

Better to have a crypto-swing-trading addiction

At least then you actually make gains instead of just continuing to double-down with fresh capital on a losing bet

>> No.50873862

i had a crypto buying addiction back in 2019 when btc was around 5k
it was fucking insane. Most of my savings gone in a year, buying every single dip. I paid a fortune in fees when my bank transfers werent fast enough.
But here I am now, I 5x my savings even now with the bear market so it's ok

>> No.50873893

>>50873862
did you make it or are you close to making it? i've been doing the same thing, buying every single dip and lowering my DCA throughout the bear market.

>> No.50873912

>>50873862

I borrowed a bunch of money in 2019 to buy crypto. When the price is low for a while I get a bit twitchy lel. When the price is going up my only mistake is fumbling bags (Buying ABS NFT for example instead of just cashing out my Ethereum kek).

>> No.50873939

>>50873893
Never sold. But I could liquidate my house mortgage if I want right now (not doing it for tax reasons).
>>50873912
>borrowed
wew, thats even worse anon. Dangerous game.

>> No.50874006

>>50873125
buy dogeshrek on dogechain and ygmi

>> No.50874012

>>50873939
>wew, thats even worse anon. Dangerous game.

It was from a family member. I also make money from my own work, so I figured out if Bitcoin crashed I could have paid them back from my work alone within a year or two. I also bought Bitcoin when it was around $3400 each so pretty much caught the bottom in one big buy.

But bag fumbling lol.. For one I dipped into the BTC when it was around 8k-14k. Also when that 2020 crash happened I sold a lot like a retard. But during the rise I put extra money into stuff like Unisocks at 6k from work money and some more borrowed money and got up to a very big ath valuation of my eth/btc. But like a retard i bought a bunch of NFTs and fumbled that. I sold all of the NFTs for a loss and still ended up doing quite well. I also paid back all the money I borrowed, had a nice chunk of cash leftover and enough to pay tax.

>> No.50874024

>>50873939
Cheers for the info anon. If you can pay off your mortgage with your crypto you've already made it.

>> No.50874040

>>50873939

I wouldn't necessarily recommend borrowing money though. All the time I owed that money, it took a toll on my mind. I didn't feel right having not paid it back. When I paid it all back a few months ago that was a huge relief. If all my crypto money disappeared, I could have scraped to pay it back over a period of time but it would have been a struggle.