Bitcoin

Out of context: Reply #2683

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    “Bitcoin essentially tracks the market. It’s about the same as investing in SP500”.

    I’ve heard this lately from a few people... even financial advisors on TikTok. It’s starting to catch on. Maybe because both are at all-time highs? But it’s not even close to true. Don’t listen to these fools.

    Let’s compare:

    Past 3 months —
    S&P: +12%
    BTC: +39%

    Past 6 months —
    S&P: +15%
    BTC: +35%

    Past year —
    S&P: +38%
    BTC: +121%

    Past 2 years —
    S&P: +60%
    BTC: +382%

    Past 5 years —
    S&P: +94%
    BTC: +857%

    I’m not telling you to buy bitcoin. Crypto is super high risk and has no underlying value. It’s pure speculation.

    All I’m saying is: most people are parrots. They repeat what they heard or read because it feels true or because they assume the person who told them seemed knowledgeable.

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    • https://www.qbn.com/…
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    • people parrot a lot of things when it comes to btc. this thread a prime exampleinteliboy
    • "financial advisors on TikTok" lolskinny_puppy
    • i rather invest in SP500milfhunter
    • I'd rather invest in SPF50.
      Health is wealth.      palimpsest
    • In May I bought some of both. S&P winning.monospaced
    • Certainly don't buy Bitcoin now. It's at an ATH!microkorg
    • S&P also at all time high and I would recommend buying it. Therein lies the difference.monospaced
    • Kewl Ponzi Schemeutopian
    • sp companies has assets bound in btc?ArchitectofFate
    • I used to love going to the racetrack with my grandfather when I was a kidGnash
    • LOL tracking the moves, not the percentages
      and both tracking monetary policy and other indicators of bull/bear markets      grafician
    • and ofc with bitcoin being too risky for long term folios
      Imagine Sp500 going to 6900 just because traders like the number 69 or 4200 whatever      grafician
    • These numbers are already off a bit. Depends on day and even time of day bought
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    • But IN NO WAY does it “track” the broader market
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    • what can I tell you...

      https://www.coindesk…      grafician
    • https://www.blockcha…grafician
    • Grafician, ignoring opportunity cost is a dumb way to think about investing.
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    • “They both went up” lulz
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    • < also offtopic but have you noticed even the percentages go up by 3-6-9 times :))grafician
    • buying bitcoin is not investing, is gamblinggrafician
    • but sure follow tik tokers for more "investing" tips and tricks :)))grafician
    • I’m not taking advice from TikTok obviously
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    • I said I heard this false statement on TikTok
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    • Which is not false as I gave you more well known info. But sure, agree to disagree if you need, no problemagrafician
    • Dumbest thing I’ve ever heard.
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    • K so you agree with the TikToks. Got it.
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    • No, I agree with common knowledge in the field. It's you who mentioned tiktoksgrafician
    • also tracking means it tracks the moves, correlation, I gave you also charts while you gave percentages?!
      It's fine I don't expect designers to know trading      grafician
    • I’m a VTI and chill kinda guy.kaiyohtee
    • Same
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    • graf, what’s your personal cost basis for your S&P index investment?monospaced
    • And/or bitcoin?monospaced
    • 1. You're a designer
      2. You know trading
      Pick one.      palimpsest
    • lolmonospaced
    • well, I've been trading casually for 25 years, and also been a designer the whole timemonospaced
    • Look at you, bigshot.
      ;-)      palimpsest
    • To be clear, Bitcoin, trading and horse betting are all speculation to me. To each their own. It doesn't mean you can't partake in design at the same time.palimpsest
    • I understand how you see it that way, but there are low-risk trades that are proven (to an extent) which negates a bit of the speculation.monospaced
    • That's basically how we define things, by setting limits. For you, the limit of speculation is your certain certainty.palimpsest
    • Investment is about value creation, I can invest in cancer research.
      Speculation is about value extraction.      palimpsest
    • I'm just not going to write it all off as speculation and use that as a reason to not get involved at all :)monospaced
    • Fair enough.palimpsest
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