Bitcoin Bubble


#2571

Yeah! And I am selling a ranch you know where…:smile:


#2572

I feel bad for my friend that was super into crypto. He was making youtube videos and everything. I’m not sure how much he lost. He was convinced he’d have his condo paid off by the end of this year.


#2573

Don’t feel bad for gamblers and ‘want to get rich fast’ guys.


#2574

Bitcoin ads have been banned from Facebook and Google…hopefully this scourge will just go away…


#2575

No kidding! :wink:

That’s why I use IULs…slow…

Oh, wait!

1,2, and…:rofl:


#2576

True. It’s his first investments. An experience like that might turn him off to investing for life which would be detrimental. I graduated college just before the dotcom crash happened. I didn’t have enough invested for it to impact me much, but a lot of older coworkers got crushed. Then Michigan RE tanked ~5 years before the rest of the country. It’s recovery has lagged too. The zillow estimate for the house I owned is still below the 2003 appraised value. It definitely impacts your investing perception when those are your first experiences with it. Once you get more experience you realize those things happen, and they are massive buying opportunities. The only regret is not being more aggressive when people were fearful.


#2577

Well, at least he still has his condo…


#2578

Do all you people that responded to “next 10x stock winner” qualify as “want to get rich fast” guys?


#2579

Nobody needs to to get rich quick…many may want it…but few can handle it…Look at lotto winners, sports stars and the example above…Managing wealth is difficult and impossible for most who gain it quickly.


#2580

No. 10x is for entertainment :grinning:
Instead of spending money to be entertained, be paid to be entertained :rofl:.


#2581

I can handle it no problem… :slight_smile:


#2582

The example is classic. Turns $7200 into $120k and looses it all. In fact is now going to be $20k in debt and in trouble with the IRS. Greed is such a powerful emotion, few can handle it.


#2583

I think most of us realize it’d take 5-10 years for a stock to go 10x. Is that considered quick? It’s definitely not, “I’ll payoff my condo this year” quick.


#2584

Yes. I want to get rich quick. :sunglasses:


#2585

If you knew how we can translate rich into Spanish, you would laugh at saying “I want to feel rich”. We are very creative with our language. :wink:

Imagine being in jail, in the shower, that famous bar of soap falling…:smile:


#2586

They all will fall for the famous gold bar scheme. :wink:

I mean…we all…:smiley:


#2587

Americans use quick instead of fast?
What is the subtle difference between the two words?


#2588

May be you only :wink:
Don’t think anyone here is foolish enough to kill a golden goose :grin:


#2589

I believe quick is usually for intangibles while fast is tangibles.
E.g. quick flip but fast car


#2590

I fall for anything shiny. I believe I look and act like a real sucker, or loser :smile:

Ask my ex. She turned me into Sugar daddy. She said like an Irish girl, “I found me gold” :smile:

And I found me a BK life. :stuck_out_tongue_closed_eyes: