Edit: I’m Australian. Pop means grandfather. The purchase in value is AUD. My funding is just price 10% lower than my common purchase in. The one purpose he is asking about it’s as a result of the media has been bashing on bitcoin these days and making it out like my funding is down 70%, which might solely be the case if I purchased on the ATH.
And to that, I stated. “$0. I have never bought, so I have never misplaced something. I purchased the vast majority of my present bag at $28-29k, and I’ve simply purchased extra throughout these low costs, and can purchase much more if it retains taking place additional, together with my common DCA.”
I may see on his face how silly he thought all that sounded. It was extraordinarily annoying to be questioned, to say the least.
It did nonetheless spotlight loads of the ignorance that almost all of individuals have although when he requested me concerning the FTX ordeal, and insinuated that bitcoin was in some way in charge for this.
I simply educated him, and moved on.
“My very own ideas, and the info on bitcoin have not modified, so why would I promote? If something, all this FUD going round highlights why bitcoin is not like another crypto shitcoin.”
Its unhappy that bitcoin has to share a bed room with different crypto currencies, and the lots consider regardless of the media (who do not know what they’re speaking about) has to say.
I do not really feel silly, however I really feel like him and lots of others are pondering I amwhen they ask about bitcoin. Keep sturdy and HODL, purchase it since you consider in it, not due to the worth.
40 thoughts on “My pop requested me, ‘so OP, how a lot dough did you do on bitcoin? I’ve heard it crashed’.”
You lost purchasing power. It does sound stupid to claim you’re all good when you’re down ~40%.
bit coin could be deseeded
I got asked the same on the crash from $1100 to $200. Who’s laughing now…
I bought winter coats at discounted price of $25, then further down I see even a better deal and got them much cheaper for $16.5 each. And it gets even better, a little later. So, what I am going to do with all these winter coats bought cheaply at the middle of summer? Ask me again when the next peak season comes and you need one. Trade is all about buying cheap and selling high since the invention of barter.
Did he have tears in his eyes and call you sir?
Some people will laugh at you when the Bitcoin price is relatively low, and be envious of you when the Bitcoin price is relatively high.
You don’t have to participate in that though.
I haven’t sold so I havent lost anything is the worst argument I hear out of anyone. You sound like a GameStop conspiracy theorist, they all claimed the same thing as it dropped in price. Accept the price is down and it doesn’t affect you in a long term investment, but that doesn’t mean it hasn’t lost value
The same thing happened with my dad, except I ended up orange pilling him, and he bought 0.25 of a BTC last week.
Bitcoin is ‘fuck you’ money.
they print millions of fiat everyday and most of it go to the top. the rest of us got crumbs. so ‘fuck you’ and your fiat, this is the asset that matters to us in the bitcoin economy.
Bitcoin always crashes upwards
Let this be a lesson, other people have no right to know what you do with your money. Why tell him? Was your investment stupid in the short term? yes. Is he right to think that, yes. But long term youll be fine, if historic trends hold true. People, stop involving your family in your financial interests.
Yeaaaaa you lost money. I get what you’re saying and if that helps you cope, great. But don’t tell me you can go out the same down payment on a house as you could 14 months ago.
I like this coin as much as i like that stock
I wish my Dad was still alive to talk about Bitcoin, even if he thought it was all a dumb idea, I’d love to hear his voice again.
Lol at your dad calling you a bagholder
1 bitcoin = 1 bitcoin
Love when my dad calls me OP
I always see these posts about HODLing but isn’t the point to use Bitcoin as currency?
> And to that, I said. “$0. I haven’t sold, so I haven’t lost anything. I bought the majority of my current bag at $28-29k, and I’ve just bought more during these low prices, and will buy even more if it keeps going down further, along with my regular DCA.”
He’s looking for an unrealized loss. You know that. If my kid tried to play that game with me, I would be disappointed too.
> I could see on his face how stupid he thought all that sounded. It was extremely annoying to be questioned, to say the least.
Why were you annoyed?
> Stay strong and HODL, buy it because you believe in it, not because of the price.
Wow! Did you just say to weight “belief” over “price”???
Sometimes you can tell you’re in a self-reinforcing echo chamber when you find yourself
using “keywords”. e.g. HODL, stonks, shitcoin, …
Farmers work hard to produce commodities such as beef, chicken, fruits and vegetables. Historically, when a currency has lost enough purchasing power farmers have stopped excepting it and require other means of payment for their hard earned commodities. This has led to food shortages in cities and large periods of social unrest.
My dad said Bitcoin went bankrupt ????
This is the time you buy! When people think you’re a loser…buy! Buy what you believe is a good investment.
Come back in 10 years!!
Is it true with the high interest environment that we have for the next couple years that Bitcoin will be around 12,000 US?
How could something so smart come out of something not so smart?
lol just kidding
discussions like this should not annoy you.
it takes most ppl ~4 years to understand bitcoin more or less.
And then everyone gave OP a standing applause
Whatever left over money each month my dad doesn’t spend from his pension he now buys Bitcoin. I hope one day your dad turns around his opinion
You showed him
Are you in love with bitcoin? It’s just an investment? You can sell and buy back right. It’s not like a relationship
No need to answer to anyone. it’s your own hard earned money and you re investing it. You are not buying Prada bags. Investing is a long term game and even when you win it anyone who dislikes crypto will just call you lucky or even worst a money launderer.
I get this shit all the time, I reply, “Well since the first BTC I bought was $6 each and it’s $17,000.00 now, It’ll be 170k in 2025, you do the math Grandpa”
I leave out the bit where I spent all that $6 Bitcoin on the silk road and my average cost is way higher, but fuckem.
>who have no idea what they’re talking about
They actually do ????
i love the fact your dad calls you OP…
Jesus my mom sends me a whatsapp message everytime she finds some article about “How bitcoin is scam”, “How someone lost his life savings in BTC”, “How people are scamming via BTC” and all that stuff. She has no clue what BTC is but thinks I am just getting scammed. I had to tell her to stop with that bullshit. I didn’t even try to explain that I have my own keys, wallet and stuff because she is now 63. Dude it’s annoying as f#ck when your own parents think you are too stupid to understand that you are getting scammed. ????♂️????♂️????♂️
You sound like a loser OP, lmao. I’m sure your family wasn’t extremely annoyed to listen to last holidays when you wouldn’t shut up about it
If you hadn’t bought @ 28k, now you could buy double of that BTC
And if you wait another couple years you will be able to buy all of BTC
Oh God. I just realised… I meant $28-29k AUD, not USD
I can’t be the only one realizing the obvious. The dad asked because OP was likely bragging about his smart investment when he had paper gains. Now that bitcoin is down, his line is he’s lost nothing. I’m not sure how you square that circle, but the dad knew what he was doing.
lol you and every bigot who doesn’t understand unrealized losses. try and sell your bitcoin for the same price you bought them.
oh you cant?
you are at a loss. ????????♂️????????♂️????????♂️????????♂️????????♂️
465 U.S. banks have gone belly-up since 2009 when Bitcoin was invented. Does your pops blame the dollar for that?
This post won’t age well. Come back in two years and tell us whether you lost everything on Bing Bing coin