Ask HN: Are You Investing in Crypto
12 comments
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I'm about to cash out the crypto I mined and purchased a couple years ago. I'm up about 300% and while it's not a ton of money, I got a few "wants" on my shopping list.
I would not recommend buying ANY crypto now.
I would not recommend buying ANY crypto now.
What happened to the thing crypto is for: buying stuff with crypto? Cashing out to fiat means you still have to further invest that money to gain suitable assets which will generate passive income, also known as 'putting your money to work for you'. Unless you blow it all down the pub and squander it on luxury goods and don't invest it.
If you do, please think very carefully before investing in any coin that's come out within the past 2 years. I lost a lot of money investing in get-rich-quick altcoins during the last bull run (which I only recently made up for by selling some btc/eth/sol I'd been holding onto since then).
I would be preparing to sell some not all of crypto right now if I were you.
But this is absolutely the wrong time to buy into crypto and stocks, especially when they are at near all time highs.
When a magnificent surprise crash comes along just like what happened at the start of 2022, then I would be buying again.
But this is absolutely the wrong time to buy into crypto and stocks, especially when they are at near all time highs.
When a magnificent surprise crash comes along just like what happened at the start of 2022, then I would be buying again.
No, but I am speculating
Listen to me carefully:
Buy low
Sell high
Buy low
Sell high
The corollary to that is there is no profit until there is a sale.
For example, buying and holding Bitcoin as price of BTC surges is not profit. The investor must sell in order to see any profit. The ability for large numbers of investors to sell Bitcoin _at any time_ for large amounts of US dollars is unproven and therefore questionable, IMHO.
For example, buying and holding Bitcoin as price of BTC surges is not profit. The investor must sell in order to see any profit. The ability for large numbers of investors to sell Bitcoin _at any time_ for large amounts of US dollars is unproven and therefore questionable, IMHO.
Great! Now just let me know how I can tell the market is low or high.
Look at the historical graph of value.
same for stocks (sometimes you have to be patient)
No, and no one else is “investing” in crypto either. Lots of people are gambling and grifting with it, you may get lucky.
Are you investing in crypto at the moment