I had to check, I never knew Ethereum got that high. It's apparently at 3,600 right now. It passed 4000 twice, hasn't dropped to 1,000 after those but looked like it was at 1800 or something after the crash in 2021.
They had to buy at its absolute peak. Sheesh. Guess if they sell now they only lose like 10%.
1,000 x 365 ,000 = 1,000,000 every three years so as long as crypto market doesnt collapse you will die a multimillionaire. You'll also live broke, but that's just something you have to accept.
Edit: there are 365 days in a year, not 365,000. My mind went like 1,000 x 365 = 365,000 = a third of a million. Or a million every three years.
Somehow i assumed you were talking about dollars or euros. I have heard of this strategy (dollar cost averaging) by buying the same amount on a frequent basis. But i myself would be inclined to spread the risks too though. Best of luck accumulating that $695 though!
brah i had ethereum when it was $100, i could have $500,000 right now but i sold because i thought a fkin pandemic would cause a recession and stocks to drop 🫠
think it is. A boring, S&P 500 index fund investment was also about $4000 at the time
The problem with that index fund is it's slowly going up and to the right, more or less.
That Etherium is going from < 1500 to > 3800 every 4-6 months.
Hands off, long term investing funds are good where it's at if we don't crash the economy, but there is some cash to be made in crypto if you have spare change lying around.
If you bought NVIDIA at $43/share on September 1, 2023 you were an absolute dipshit.
If you bought Palantir at $35/share on January 29, 2021 you were a total moron.
Meanwhile, Bear Stearns at $60 in March of 2008? A fucking steal. Buy! Buy! Buy!
Like playing the slot machines hoping for a jackpot.
I always read the prospectus on a slot machine before I put money in. Strangely enough the p/e on these things is amazing, but I never make any money on my trades.
I'm curious as to how much casino's rig their shit.
MIL is a gambler, a bad one too. I don't think numbers will help her, but my wife could use them to try to dissuade her mother. At least, deter. Damage control.
It's actually the more practical of the crypto currencies from my perspective. It's setup to enable things like smart contracts and exchanges and was a big driver of web 3.0.
Not that I'm a big proponent of web 3.0, it at least tried to be a currency unlike every other crypto currency.
this is the whole reason why I don't give financial advice to people, and when they press me for it I tell them
your money is your money, I'm telling you this because you need to be responsible for your own finances. all investments are bad and you will lose money. it's up to you to identify if this information is helpful or not to you. what works for me may not work for you. there is never a "sure thing* and don't risk more than you can afford to lose.
Don't worry, I have TACO on quick dial and he'll fix the crypto
In 50 days there's a deal on the table
Concepts of a deal
Taco, you say?
Ritzcoin?
Spending every dime, for a wonderful time!
I had to check, I never knew Ethereum got that high. It's apparently at 3,600 right now. It passed 4000 twice, hasn't dropped to 1,000 after those but looked like it was at 1800 or something after the crash in 2021.
They had to buy at its absolute peak. Sheesh. Guess if they sell now they only lose like 10%.
if they were the type to buy at 4000 they probably already sold at <2000
That's why you have to buy every day and never sell. Just throw 1,000 in every day for the rest of your life and it'll be fine.
1,000 x 365
,000= 1,000,000 every three years so as long as crypto market doesnt collapse you will die a multimillionaire. You'll also live broke, but that's just something you have to accept.Edit: there are 365 days in a year, not 365,000. My mind went like 1,000 x 365 = 365,000 = a third of a million. Or a million every three years.
Something is amiss there. Your years seem about a thousand times too long
Yes oops
not their fault you have shitty short-ass years, get longer years bro
my years are two years long at this point, there's no excuse
I've reviewed my budget and decided this is do-able. 1,000 rials a day till I die.
If I live for 40 years more, and it doubles in value, I'll have $695 when I die!
Somehow i assumed you were talking about dollars or euros. I have heard of this strategy (dollar cost averaging) by buying the same amount on a frequent basis. But i myself would be inclined to spread the risks too though. Best of luck accumulating that $695 though!
Oh no I was talking about U.S. dollars, then I had to fix it to fit my budget of rice and beans haha
Jesus, just take the 5% on the million and be happy lol.
That's when all the Superbowl ads were saying to invest.
4000 is what I sold at. Easiest money I ever made.
Yeah, this meme is ancient. Hope the mom never sold.
There's no loss if you don't sell
If you never sell it's a 100% loss since you can never use that money for anything ever.
Yeah, it's funny that people say no loss until you sell. I get the joke but they're ignoring that under that definition the purchase was a loss lol.
Easily fixed with a screenshot of a faked Elon tweet about Eth being so undervalued right now.
Drop that shit on r/wallstreetbets and sell about 30 minutes later.
lmao this one so old
https://www.coingecko.com/en/coins/ethereum
ethereum already been back to 4k like 3 times
This isn't the argument you think it is. A boring, S&P 500 index fund investment was also about $4000 at the time. Now it's $6359:
Etherium? Not even back up to that same $4000...
brah i had ethereum when it was $100, i could have $500,000 right now but i sold because i thought a fkin pandemic would cause a recession and stocks to drop 🫠
Nice hands. Are they made of paper?
😀 😭
Don't feel bad, I had whole bitcoins (plural) when the price only had one zero at the end. I did not hodl.
I probably could've bought a house if I'd held onto all the btc that I spent on the silk road lol
I had fractions of a bitcoin when the zero was at the front of time price I think
Just felt so pointless. Stopped mining.
Teenage me could've made adult me a millionaire with diamond hands, but this is all shit we can never predict.
Remember when you could get 0.01 from a faucet and it was nbd? 😭
Bearish as fuck. Guess it's all over.
The problem with that index fund is it's slowly going up and to the right, more or less.
That Etherium is going from < 1500 to > 3800 every 4-6 months.
Hands off, long term investing funds are good where it's at if we don't crash the economy, but there is some cash to be made in crypto if you have spare change lying around.
Crypto is super volatile, like perpetual RNG volatile, which is a little more out-of-the-way in the stock market.
So they really did fix it for their mom! That's a nice kid!
Crypto gambling, ftfy :)
Currently worth $3,642.07, but yes 4k was a stupid buy.
If it were 10k it would have been a genius buy though!
No, it wouldn't. 2k would have been. Buying at the all time peak is ALWAY a stupid buy, idc if it does take off after.
Like playing the slot machines hoping for a jackpot.
If you bought NVIDIA at $43/share on September 1, 2023 you were an absolute dipshit.
If you bought Palantir at $35/share on January 29, 2021 you were a total moron.
Meanwhile, Bear Stearns at $60 in March of 2008? A fucking steal. Buy! Buy! Buy!
I always read the prospectus on a slot machine before I put money in. Strangely enough the p/e on these things is amazing, but I never make any money on my trades.
I'm curious as to how much casino's rig their shit.
MIL is a gambler, a bad one too. I don't think numbers will help her, but my wife could use them to try to dissuade her mother. At least, deter. Damage control.
Do you have any documentation?
You should get her a cheap steam deck with Balrato. Might help.
Also: Nevada gaming regs for slot machines
And: Darknet Diaries Jackpot episode
Not interested in Balrato.
A steam deck is also out of reach for now.
Thanks for the regs, and I hadn't check that podcast out in a while. Good reason to get back it!
Lmao, no surprise to see you defend actual slot machines.
I'm fairly certain that was meant as sarcasm.
Poe's Law. If people like them didn't really exist then casinos wouldn't be profitable.
Please show me the prospectus that slot machines have. Using a term associated with legitimate investing is why it's humorous.
'Tell me you know nothing about the stock market without explicitly saying so'
Keep waiting for that AMC gamma, dolt.
"This is why we don't love you." Bitch, you better not need end of life care from me; you will find out about my lack of love for you.
Hold it. Crypto is senseless. It’ll climb again.
I think she bought the wrong stuff never heard of etherim
It's actually the more practical of the crypto currencies from my perspective. It's setup to enable things like smart contracts and exchanges and was a big driver of web 3.0.
Not that I'm a big proponent of web 3.0, it at least tried to be a currency unlike every other crypto currency.
LMAO
Wait three months?
Prob not going past 4k anytime soon though so maybe sell at 3800 and put it into a utility company?
Eth doesn't take much power like that anymore if that's what you're thinking. Other crypto does, of course.
no no, fun through though. More that power companies always go up and to the right. They're the hallmark of safe investment.
Except for PCG…
Ohhh wow, and they were doing so good until 2025.... that's horrific :)
Mom buy AMC ,you have no idea what's about to happen 🦍🚀
Welcome to holding the bag. Never listen to family.
this is the whole reason why I don't give financial advice to people, and when they press me for it I tell them
~ Howard Graham Buffett
If you can't handle investments being volatile then only invest in bonds, CDs, and savings accounts.
Terrible mother
Aaah classic. Forgot to prefix it with:"this is not financial advice"
Broke: Searching stocks by the size of their five year annualized dividend weighted by their EBITDA
Woke: Buying the stock with the highest dividend last quarter
Bespoke: Putting my entire retirement account into the index fund called YieldsBiggerThanMyDick
Ok I’ll buy it back from you