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My dad wants to invest in crypto
Posted on 3/6/24 at 5:19 pm
Posted on 3/6/24 at 5:19 pm
He is not computer savvy and knows zero about it. He has been seeing ads and got to investigating the last couple of weeks. I told him it’s probably best to stay away. Any help is appreciated.
20
Posted on 3/6/24 at 5:21 pm to Duffnshank
quote:A sell signal if I’ve ever seen one…
My dad wants to invest in crypto
He is not computer savvy and knows zero about it.
Posted on 3/6/24 at 5:24 pm to Duffnshank
What are you asking for? There is a whole thread on this.
Does he want to gamble on a poopoo coin?
Does he want a long term store of value?
Is he interested in a layer 2 gamble?
Just go to the crypto thread and start reading/asking questions.
Does he want to gamble on a poopoo coin?
Does he want a long term store of value?
Is he interested in a layer 2 gamble?
Just go to the crypto thread and start reading/asking questions.
Posted on 3/6/24 at 5:29 pm to Duffnshank
I'm not saying its the top of the cycle, but I think people need to be careful when inviting others to the space during the bull market.
The most unproductive situation in all this is fresh entrants come in at the worst time (peak bull market) , forever feel burnt, and never come back.
The most unproductive situation in all this is fresh entrants come in at the worst time (peak bull market) , forever feel burnt, and never come back.
Posted on 3/6/24 at 5:30 pm to Duffnshank
quote:
He is not computer savvy and knows zero about it.
Classic you and not “your dad” but Coinbase is the easiest.
Posted on 3/6/24 at 5:32 pm to LSURussian
quote:
quote:My dad wants to invest in crypto He is not computer savvy and knows zero about it.A sell signal if I’ve ever seen one…
When Coinbase gets to #1 App again, that’s my sell signal.
I believe it jumped from over 100 last week to 40 as of now.
Posted on 3/6/24 at 5:36 pm to Odinson
quote:
When Coinbase gets to #1 App again, that’s my sell signal.
That's a pretty popular opinion in the space. I'll start DCA'ing out when it's number 2.
Posted on 3/6/24 at 5:39 pm to MrSpock
Guess I’ll start at #3 then haha.
Realistically it will go from 10 to #1 overnight.
Realistically it will go from 10 to #1 overnight.
Posted on 3/6/24 at 5:48 pm to Odinson
I take it you’re a very wealthy crypto investor?
Posted on 3/6/24 at 5:53 pm to Duffnshank
Just a small fish. GL to you and your dad in the crypto journey.
Posted on 3/6/24 at 6:01 pm to Duffnshank
Tell him to buy some usdc on coinbase and earn 5%. Start learning more about the different networks, offerings, etc.. When he gets impatient with 5%, start gambling
Posted on 3/6/24 at 6:36 pm to Duffnshank
Goddamn this cycle went fast.
Posted on 3/6/24 at 6:56 pm to Duffnshank
If he wants to gamble tell him it's cheaper and easier to play the lottery. Basically the same thing
Posted on 3/6/24 at 7:52 pm to Duffnshank
frick
Posted on 3/6/24 at 8:24 pm to Duffnshank
Crypto is stupid.
But Bitcoin willl hit $100,000 this year.
Go figure
But Bitcoin willl hit $100,000 this year.
Go figure
Posted on 3/6/24 at 8:37 pm to Duffnshank
The top is in
Tell him he should only be looking at BTC imo. The risk/reward isn't really worth it with the other stuff at an older age
Tell him he should only be looking at BTC imo. The risk/reward isn't really worth it with the other stuff at an older age
Posted on 3/6/24 at 8:45 pm to Duffnshank
quote:
He is not computer savvy and knows zero about it. He has been seeing ads and got to investigating the last couple of weeks. I told him it’s probably best to stay away. Any help is appreciated.
He needs to understand float. He doesn't. I would stay away.
Posted on 3/6/24 at 9:06 pm to Duffnshank
DCA into one of the new Bitcoin ETF's like IBIT. Don't dump a ton of money into it at one time. I wouldn't listen to the negative posts about cryptocurrency. A ton of money has and can be made in crypto. The negativity usually comes from people that never have invested in it, so they would be the last ones to listen too. I've been investing in it for years, and have made way more than I would have playing traditional markets. 1-3% allocation would not be a bad place to start.
This post was edited on 3/6/24 at 9:17 pm
Posted on 3/6/24 at 9:45 pm to mach316
quote:
The negativity usually comes from people that never have invested in it, so they would be the last ones to listen too
The mental gymnastics I see these days is pretty incredible. I guess that's why people like the space, it's literally entertainment
Posted on 3/6/24 at 10:01 pm to Duffnshank
Ask Larry Fink
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