Monday, 18 December 2017

Should I invest in cryptocurrency?

"No no no no no no no no no no. 
It's a bubble. It's speculative. It's fundamentally unsound!"

But how about the returns? I heard about Bitcoin having astonishing returns!
"Hmm.. Well..As of this moment of writing, Bitcoin is trading at $19,535. 
It's $959 on 01/01/17"



WOW? IS THIS IS A 20 FOLD RETURN?

"Yes. You're right you didn't see it wrongly. 2000% return.
$1000 invested means you'll have $20,000 today."

Oh my god. If I've invested $100,000..
"You would have $2,000,000 today!"

I heard about alternate coins too! What's that?
"Nothing much.. Just another ponzi scam out there that are named differently :)"

Can you name some?
"Sure. Why not? Ethereum, DASH, ZCash, IOTA Litecoin, Monero..."

I can't wait. I'm missing out too much now. FOMO game is strong here! I need to get started! Can you please tell me how?
"No..no..no.. Don't dip your toes in please. The bubble is going to burst soon!"

Many of my friends have started playing with Bitcoin recently. One of them even mentioned that he wants to quit school to go full-time in crypto investing. He profited close to USD 3,000 last month from crypto-investing. This is more than a fresh university grad salary!

I want to get started! Can you tell me about your journey this far?
"Nah. Better not. My journey is nothing impressive and I don't recommend investing in cryptocurrency."

Why don't you recommend investing in crypto when the whole world does and they're earning a hell lot from this crazy surging market? I understand about the risk. Tell me one investment that is risk-free!
"Invest in yourself :)"

Go big or go home! Low risk small return. High risk, high return. Tell me more please. Don't worry, I'll be able to sleep soundly at night. I will snore still! Can you tell me on the exchange you're using?
"Take a look at this here."

Wa. From the link you gave me, I saw another post by this fella. This guy smelly smelly play one month also got 143% return leh.
"This guy is out of his mind. Don't follow him."

Then follow you la. You tell me more.
"Nah. Told you to not invest in cryptocurrency already!"

Aiya.. you. Nevermind. I wait for this fella post. See whether got any lobang anot.
Anything happen, his fault!
 
.... -.-

11 comments:

  1. What bubbles?The show just started.Invest in shares also can lose $ n hv bubbles too.In cryptos when u earn 10% it's considered peanut,but shares u jump for joy.As long as invest within means,it should not do much damage.

    ReplyDelete
    Replies
    1. Hi Steven,

      Thanks for dropping by my blog. The above post is a conversation between me and one of my friend recently over the topic of cryptocurrency. I've briefly explained on my post previously on my thoughts of cryptocurrency and I've also shared on how I feel on how early the crypto-world is today.

      However, till today. I would still not recommend crypto-investing to anyone. To enter this game is up to one self and not based on the results that is seen from the market.

      Instead of trying to promote/prostitute out on how "good" this crypto-world is, how my experience is, I go ahead with the latter.

      This topic of crypto-investing had been a largely debatable topic in the world of investment with people taking sides on how retarded and unrealistic it is and the people who truly believe in the blockchain technologies.

      For me, I will remain silent and let imagination run wild :)

      Delete
  2. Hi Sleepydevil,

    What do you call a fiend that dabbles in crypt-ocurrency?

    A Cryptfiend!

    http://classic.battle.net/war3/undead/units/cryptfiend.shtml

    ReplyDelete
    Replies
    1. Hi UN,

      Hahaha! That's warcraft isn't it? Holy.
      Doesn't that makes me a Cryptfiend?

      Delete
  3. haha my gemini taking more than 7 days to be verified..

    ReplyDelete
    Replies
    1. Hi MIM,

      Wow. Have your account been verified yet?

      I reckon that this high demand recently is due to the CFD that they're releasing. Now, I believe the game is going to start soon with many new bloods in!

      Delete
  4. I get worried when you wrote this:

    "Many of my friends have started playing with Bitcoin recently. One of them even mentioned that he wants to quit school to go full-time in crypto investing. He profited close to USD 3,000 last month from crypto-investing. This is more than a fresh university grad salary!"

    I've given up trying to convince people that Bitcoin isn't a scam. lol.

    ReplyDelete
    Replies
    1. Hi Budget Babe,

      Thank you for dropping by my blog!

      I express the same concern that I did not include in this post. IMHO, leaving school to play is never an advisable option. This also makes me wonder and worry if I'm well-sounded in the ears of readers from the crypto posts.

      As bloggers, or as a friend, I'm able to provide assistance, recommendations for exchange or services I'm using. But never on the question if one should join this game and what to buy, when to buy etc.

      However, on the other hand, I wanted to prove to people that this is just another world, another alternative to investment, which many that are in today and before are profiting heavily from. And there's nothing strange about it. Be it fundamentally unsound, or what. Managing your risk and diversification is the key.

      I remember reading one sentence somewhere:
      Allocate 1% of your portfolio into Crypto. In years to come, it's either you lose the 1%, or the 1% becomes 10% and possibly more.

      What's new now? I couldn't be bothered about those who feel or continue to feel that the "BTC bubble" is going to burst tomorrow. They should continue to FUD when this crypto-world continue to break ATH :)

      Delete
  5. huh.... what are you talking about?
    of coz not!
    its so dangerous!



    haha...

    ReplyDelete
    Replies
    1. Hi Foolish Chameleon,

      Whenever people prob me or ask me question about this. My standard answer is..

      "No no no no no. This is a ponzi scheme. A bubble. Better not."

      Instead of telling people how "good" this is, why not tell them what most people is hearing by the ear.

      Tho new fresh funds in plays a part in driving the price upwards, it also means the "due-date" is nearer. This game will become more and more fun. More and more exciting in the coming months.

      Despite being a crpyto-investor/trader. I still believe in correction taking place and big correction that will come. This event may or may not wipe out the crypto market, but with this many new birds coming in, once they experience the "big" 40-60% correction, that's when they will panic sell. When this happen, there is a chance it breach past the 40-60%.

      The amount of new-birds entering this game recently is unreal and the market cap has doubled in just this few weeks!

      Delete