Quote from: serveria.com on October 29, 2021, 07:40:41 PM

Quote from: AlcoHoDL on October 29, 2021, 04:32:22 PM

It's so easy to be in profit without doing anything at all. Just buy Bitcoin, HoDL, and give it some time. No need to trade (a sure way to lose your sleep and possibly your sanity, along with your coins), no need to mess with shitcoins, no need to constantly check prices & charts. Just one simple, stress-free method that has proven to be a winning strategy time and time again. And yet, people still trade, still bet on the latest shitcoin, still listen to self-proclaimed "crypto-gurus" on YouTube advising them to buy this and that.

Take my shitcoiner cousin, for example. He made a meager 3x of his investment ($6000) since 2017, after years of stressful trading, not in Bitcoin, but in several shitcoins -- he could have easily made 30x if he had bought Bitcoin and HeDL. He has already withdrawn his profits ($12000) to buy some land and a large-screen TV.

Now he has developed a new strategy to become rich: spread his capital (the initial, and remaining $6000) on more than 30 different shitcoins. His idea is that, even if 10% of them heavily pump, he will end up in more profit than simply putting them all on Bitcoin and HoDL. I've warned him that this is probably not going to work out, but he's sure it will. Using all his $6000 to buy BTC at the current price of $63k, when Bitcoin price reaches $100k (and it soon will), he would have about $9500, a healthy extra $3500 in profit. Let's see how his shitcoin-spreading strategy plays out. I hope it works out, but fear it won't.

Christmas will be fun this year.

Believe it or not, I had exactly the same discussion with one of my childhood friends. And the guy was shilling the same 30 coin strategy (did they see the same youtube crypto noob guide or what? Grin

) I tried to persuade him to go all in on BTC but all in vain. "Bitcoin is ancient tech" that's what he said. His idea was that quote "Bitcoin can't go up 10000% anymore but these shitcoins can..." Grin

btw the Sh* coin was among those 30 coins he selected. I asked him how the he choose the shitcoins for his portfolio and he said that he basically just checked the top30 coins on some exchange and bought them all. He had around $5-10k to invest. Let's see how it goes for him. Funny thing is that I told him to buy BTC several times in 2015, 2018 etc etc but he refused. The last time I told him to buy was in 2020 during the Covid dump. So that's typical average Joe reasoning I guess... Cool

Are we related? This is exactly what my cousin has done, and how he chose his coins! Let's see how this plays out. Funny thing, his son (my nephew) has listened to me and bought $1000 worth of Bitcoin (no shitcoins) -- and intends to HoDL. Will be fun to see the son outperforming the father, with only 1/6 of the initial capital. Hopefully it will be a hard lesson to my cousin, the second he's had since he started his journey. Will he ever learn? I fear that this will mark the end of the journey for him. He tripled his capital of $6000, that's not bad, but he could have been 10 times more profitable if he had put everything in Bitcoin. And this will haunt him for the rest of his life. That's why no one should go all-in on shitcoins -- the psychological damage and suffering that will certainly come is not worth the risk -- IMHO.

Good luck to them both. They're going to need it.