Dipping toe into Crypto

[Cold]

Rivian is down 83% in the last 6 months. In fairness probably about as useful as Bitcoin in the real world, lol.

[Bazg2]

Is that the one that VW bought?

[hi-rev]

Speaking of life savings:

El Salvador expected to default as bitcoin plummets
The Central American country made the cryptocurrency legal tender last year, but since then, it has continued to fall, raising concerns about whether it will be able to meet its next debt payment

https://english.elpais.com/economy-a...-plummets.html

[Titan]

Umm...maybe not the brightest idea ever that one.

[injeejay]

I doubt anyone who lends money to El Salvador expects it back.

[Chris_Heilong]

I gave my wife 800 last week to try out the crypto stuff, we picked Bitcoin and ETH and some random one, the only one making money was the random one and we have lost money with the other 2.

[simonmcf]

Put 300 into the major ones between Xmas and March - it’s not gone over the 300 during that time and currently worth 200. I’ve no doubt that it will recover but not like the gains seen before. No way would I be investing in this space.

[injeejay]

I’m confused. If you’ve no doubt that the crypto market will rally by the 50% needed to recover your principle, how come you don’t add to your position? Surely any new funds will benefit from the 50% increase too, no?

[Cold]

I’m mildly miffed that I didn’t buy on the last dip when B$ was $5K which I was mentally planning to do. But it’s just such a total joke of an asset that it’s hard to pull the trigger.

[injeejay]

It is indeed a joke asset but on any given day it's not clear who the joke is on; those with coin or those without. It's all speculative nonsense. Moon lambos or bust.