Is my dad right?

Stupidasole
Stupidasole

inherited 20k from grandmother recently
blew 5k on drugs and a car
want to invest the rest in BTC
he's very wary and is advising me to only put 2k or so into it
I know nothing about investments, and he does this shit for fun

is he wrong? is it a bad idea to put all the rest of my money into BTC? if he's wrong what do I say to retort?

All urls found in this thread:
https://discord.gg/nX3M59X
TurtleCat
TurtleCat

@Stupidasole
part 2

CouchChiller
CouchChiller

@Stupidasole

lmao stop being a pussy and buy. is the price of BTC going to be higher than now in one year? most likely, yes.

JK no one fucking knows LMAO if BTC futures dont do anything then it will be a huge bear period

that's why most of us here started with small amounts in the summer and multiplied heavily through altcoins with the goal of accumulating BTC. if BTC goes to zero, whatever, it's pure profit money.

just LOL if you have to make serious financial decisions on Bitcoin

FastChef
FastChef

@Stupidasole
nothing is certain with crypto. i'd follow your dads advice. maybe double it to 4-5k if you are ok with losing it all.

Nojokur
Nojokur

@Stupidasole
invest all in QSP, borrow money to buy some go go go go go ez $$$ by end of year

Fried_Sushi
Fried_Sushi

@Stupidasole
The wall st. retort is "diversification is for sheeple who don't know what they're doing." The idea is that if you have 3 assets, one which will return 2000%, one which will return 50%, and one which will return 100%, only a fucking moron wouldn't sink all his chips on the 2000% one. If you don't know those numbers, you will split your money 3 ways between the assets.

Soft_member
Soft_member

Put those 2k in REQ. Thank me in one year.

takes2long
takes2long

@TurtleCat
the only thing you need is electricity and computers
thousands of kW of electricity
thousands of USD worth of hardware
So ez!

massdebater
massdebater

@Stupidasole
Now is the wrong time to invest anything in BTC
Bull run is over and it's going to be going down

Inmate
Inmate

@Stupidasole
my god, I can't fucking believe people are even CONSIDERING buying here
I still think fucking 4k is expensive as fuck, what the actual fuck is happening

Playboyize
Playboyize

BCH will likely outperform BTC in 2018, you'e been warned.

Emberburn
Emberburn

I would buy. I wouldnt put everything into it though. Only what you could lose emotionally. Not only that. BTC gains are small compared to ALTS.

https://discord.gg/nX3M59X

TechHater
TechHater

@Inmate
FOMO

BunnyJinx
BunnyJinx

@Stupidasole

Jesus christ just reading this conversation is like watching a child stumbling around blindly. Normies really can't into crypto.

If you want to be a trader: open accounts on GDAX, Polo, and Yobit (for anonymity) and Binance (for Asian security), was all your trades every six weeks through XMR, make sure it all goes through yobit at least twice.

If you want to 'buy/hodl/sell' make an account on LocalBitcoins, buy, transfer to ledger nano, then when you're ready to sell select 'national bank transfer'.

Fucking normies I swear.

Fuzzy_Logic
Fuzzy_Logic

He's absolutely right
Price is random, there's no reason for btc to be this high

Spazyfool
Spazyfool

@Stupidasole
your dad knows more about crypto than you do.
he should give you a bitchslap

Need_TLC
Need_TLC

retard blows 25% of his capital on hedonism and status symbols
wants to put the rest in something he doesn't understand
wise dad gives him good advice
goes to a malaysian origami forum to prove his dad wrong

Holy fuck I'm glad I wasn't dropped on my head as a child.

Lunatick
Lunatick

investment
Call it speculation. That way people won't think you tried to scam them if it turns out 1trillion really was too much money for a cloud of smoke.

Lord_Tryzalot
Lord_Tryzalot

@Stupidasole
not killing your evil father
are you even a hero?

Boy_vs_Girl
Boy_vs_Girl

@Stupidasole

Taking advice from a (lmao) BOOMER

happy_sad
happy_sad

@Spazyfool
kek

takes2long
takes2long

@Stupidasole
spend 5k on drugs
Very easy to spot the subhumans these days.

Inmate
Inmate

@Stupidasole
Here's my best advice cause for some reason I'm feeling nice today.
S9 antminers are running ~5k right now on amazon, you can get 3 for your 15k assuming you have at least 3 free 15 amp circuits in your resident (they need 1350 watts each). If you buy miners, you have an income stream and don't have to pay capital gains taxes on the BTC you mine; instead you pay regular income tax but can depreciate the miners as a computing asset which means you'll effective pay 0. If BTC keeps going up, you're gravy. If BTC looks to be going down, you can go onto a leveraged exchange like kraken and make a small short position at the current price - if the price does go down, you gain on that position; offsetting the losses of your newly mined BTC not being worth as much. If BTC goes up, you lose a little on your short but your mining earnings are protected and worth more. You can also combine this with buying some BTC and only getting 2 miners.

Playboyize
Playboyize

@Stupidasole
"Invest" in bitcoin lol

Buying any of this shit is just gambling. Do what your dad says

Methshot
Methshot

@Stupidasole
old enough to drive a car and own a gun
but not old enough to invest a little money in crypto

Yanks crack me up.

PackManBrainlure
PackManBrainlure

@Stupidasole
Imagine you put it all in btc and lost it all today... would you be good with that?

You have your answer then

happy_sad
happy_sad

@Stupidasole
Even $500 is good to start off with OP.

You can easily fllip those.

I flipped 30 into 1000

iluvmen
iluvmen

If that's really your dad he's based as fuck and gave good advice, also he knows well the crypto markets.

My dad is just looking at the price every week since it's 400$ and say it's too late anyway.
He's into really low risk stocks and cash out profits every 5%.

hairygrape
hairygrape

@Inmate
@Fuzzy_Logic
These people have no idea about the fundamentals of BTC.

there are no fundamentals kek its crypto
No and you should go buy a PoS coin (piece of shit, because staking is bullshit)

Burnblaze
Burnblaze

the usual parents we see here are fucking idiots. your father seems reasonable why you seem to be an idiot. listen to the old man it's too high atm

Emberfire
Emberfire

@BunnyJinx
this is like reading hyroglyphics to me senpai. I'm a complete brainlet and can't even do basic math equations without a calculator. if I were to even begin to try something like this, id wind up in some Chinese rapist hacker basement or some shit.

the way its looking from reading this, I should follow his advice. Im gonna dump 2k into it and pray for the best. ill put it at a stop so it sells automatically when it starts to look down (unless you guys think thats dumb, again I know absolute dogshit 0 about this whole game)

RumChicken
RumChicken

You and your dad sound like dumb faggots. It's too late for btc just blow the rest of the fiat on more drugs, you're destined to be poor

whereismyname
whereismyname

@Stupidasole
listen to your old man

Supergrass
Supergrass

BUY BUY BUY

Nude_Bikergirl
Nude_Bikergirl

@TurtleCat
or loose it all
Retarded financial boomer advice. Nothing ever goes to 0, you hear the same dumb ass comments about stocks all the time.

Boy_vs_Girl
Boy_vs_Girl

@TurtleCat

You're dad seems pretty smart, id trust his judgment and advice for Bitcoin AND Life.

happy_sad
happy_sad

@Burnblaze
Yeah seriously I was expecting my cringe to be from the dad in that text conversation but it was OP who made me cringe more.

Bidwell
Bidwell

@Emberfire
i'm a complete brainlet
So learn retard. Anybody can learn no matter how stupid you are.

trading
Don't; you're too stupid right now.

investing in Bitcoin
Even if ALL the fucking fud is true, literally nobody disputes that BTC itself is secure. Just fucking buy Bitcoin, go to bitcoin.org or search "bitcoin wallet" on jewgle, get one, and stick your BTC in it and sit on it for 5-10 years when no more BTC will ever be mined.

Evilember
Evilember

all the posts ITT are "your dad is smart"

PurpleCharger
PurpleCharger

I think your dad has the right idea that while BTC's gains are truly unreal it is extremely risky. It might keep going up, it might collapse like a house of cards. We really don't know, and we can't know.

I'd say take $10k and use it to open an index fund with Vanguard (VFIAX is the one I own, pic related is my 15 month history) and then put the rest into Crypto. With an index fund you're tied into the fortunes of the US economy, its something that's understandable and stable.

Nojokur
Nojokur

@Emberfire
this is like reading hyroglyphics to me
Then piss off, why should we help your stupid ass make money?

lostmypassword
lostmypassword

@PurpleCharger
6k over 15 months
when you can make 6k over 15 days in crypto

Soft_member
Soft_member

@Stupidasole
oh shit
are am*ricans really that rude with their parents?

5mileys
5mileys

@Stupidasole
Go all in on REQ

Evil_kitten
Evil_kitten

@TurtleCat
loose

takes2long
takes2long

@Stupidasole
Your dad is a Chad. Always follow Chad. Your weak emotional control and pathetic testosterone levels will lead you to ruin.

hairygrape
hairygrape

@PurpleCharger
bitcoin unintelligible
the people speculating, yes. the underlying value, no.

Sharpcharm
Sharpcharm

Your dad has a brain, so I would listen to him. He definitely knows more about BTC than the average normie. Don't listen to the posters here to risk it all. Everyone here (including me) is in way too deep and deluded.

VisualMaster
VisualMaster

Your dad seems like a smart guy. Best thing is to probably listen to him because he knows what he's doing.

BinaryMan
BinaryMan

@Stupidasole
Your dad is right, you’re gonna lose everything because you are Normious Maximus. You have nofuckingclue how any of this works. You see dollar signs and think, “hey let me invest all my money.” You’re retarded and might as well kys now to avoid the pain of losing everything.

SomethingNew
SomethingNew

your dad is actually pretty smart for a boomer. my dad doesnt know how to login to facebook.

Methshot
Methshot

Compromise
Put 4k in BTC
1K in LTC
300 in Shitcoins

Fuzzy_Logic
Fuzzy_Logic

@Nude_Bikergirl
His dad sounds like the most typical retarded boomer and this idiot cuck is eating up his dogshit "advice". Take my advice and kill your parents, invest the life insurance in btc

Supergrass
Supergrass

@Emberfire

Download Exodus, it's the most normie friendly wallet. Navigate your way to LocalBitcoins, if you don't know the first thing about trading then don't even try to trade until you learn (google and wikipedia and lurking here will help you), buy some BTC, put it in Exodus, write down your seed phrase (shown when you make a wallet) and just wait 3 years. Do not panic sell and do not get hacked. You will 10x your money.

If you do want to trade, you're gonna want to open a GDAX account, a Polo account (under false name), a yobit account (under second false name) and a Binance account. When I say 'wash trade' that means every six weeks buy across all exchanges monero, send the monero to polo (alternating which one) and then buy eth/btc and transfer it to yobit then from yobit back to your exchanges. Finally take 10% of your stack/profit and siphon it off to one of 3 paper wallets. This is good because then the gov can never track down your holdings (just tell them you transferred it to someone or bought drugs or some bullshit, statute of limitations will protect you). As long as you don't do anything crazy like actually buy a lambo you'll be living in stealthy wealthy heaven.

Stark_Naked
Stark_Naked

@Fuzzy_Logic
has .02btc
calls people nocoiners

Garbage Can Lid
Garbage Can Lid

@Methshot
old enough to get blown to pieces for oil in Iraq
not old enough to drink a beer
No wonder Trump is president of this hilarious country

JunkTop
JunkTop

@Stupidasole
if this is real, do not buy bitcoin rn. growth is not sustainable. seriously, just wait for the crash

Spamalot
Spamalot

@TurtleCat
Dad is right. $2k in is alright, you get to buy .1 which is a nice round number.

viagrandad
viagrandad

@Stupidasole
Your father is pretty smart. Imo you should get into crypto, put 1k into BTC and 1k into alts and have a little fun with it. Atleast its good experience.

idontknow
idontknow

@Stark_Naked
M8 I have 26.2 btc get fucked

kizzmybutt
kizzmybutt

@Stupidasole
ONLY PUT MONEY YOU CAN AFFORD TO LOSE

hairygrape
hairygrape

@hairygrape
brainlet wojak.jpg
Yeah man, btc shouldn't be this high, that's nonsense
muh fundamentals
Kek the store of value meme is dead, btc is slow as fuck and the transaction fees are ridiculous
b-b-but muh fundamentals!
Go kys cuck, go buy btc for 17k yourself

Emberfire
Emberfire

Listen to your dad, biz is full of brainlet faggots.

TalkBomber
TalkBomber

@idontknow
.0262
ftfy

Stupidasole
Stupidasole

@SomethingNew
You're dad might be mentally handicapped, his dad is an absolute fucking retard. Judging from your comment I can see the apple didn't fall far from the tree

Fried_Sushi
Fried_Sushi

@Evil_kitten
This, every time.

lostmypassword
lostmypassword

@Stupidasole
From your message yo clearly don't have a mature mind
Listen to your dad

SniperWish
SniperWish

Just wanted to let you know that you guys are stupider than people on reddit. Do you believe an adult male speaks the way the father does in that message? Super volatile son. It is so apparent that it is written by the same person. Its more wooden than a Gilmore Girls conversation. WHY ARE YOU ALL SO FUCKING RETARDED?

TechHater
TechHater

@Boy_vs_Girl
t. dad

Harmless_Venom
Harmless_Venom

FOMO the thread

Boy_vs_Girl
Boy_vs_Girl

@CouchChiller
what the fuck are altcoins

farquit
farquit

@Stupidasole
i can see how fat you are from your typing.

lostmypassword
lostmypassword

alright frens I'm back. ill post the rest of my conversation with my dad so if you have any other advice ill keep the tab open. I told him to dump 2k in it and see where it goes from there

Poker_Star
Poker_Star

Having a full written conversation with your dad instead of just calling like a non-autistic son
autism
Putting money into a bubble
autism
Asking for parental permission on investments
autism

Methshot
Methshot

Thats right put some money in guys. Doesnt have to be much say 2000? 1000? WHATEVER YOU CAN AFFORD TO LOSE

BunnyJinx
BunnyJinx

@Stupidasole
Actual investorfag here OP. Put 2k in right now, use uphold.com to buy, then transfer your bitcoins to binance.com and spend 30% of it on Monero (XMR), 20% on EOS, 20% on Ethereum (ETH) and keep the rest in BTC. Now download the wallets for all these coins and store them there. Don't touch your wallets, don't sell if you see your coins on the news, you're gonna want to be holding for at least two or three years. Autists on Veeky Forums are gonna tell you to swing trade and buy low sell high, but this almost never works out and you don't know anything about crypto or investing so it would be a recipe for disaster.
Now step 2 is waiting until mid January and then putting another 2k in the same way. If you do this you'll have a very nice profit in two to three years. Most likely 50k or more.

Lord_Tryzalot
Lord_Tryzalot

@lostmypassword

Bitcoin is an ideal hedge because it is uncorrelated to the rest of the market. As such it should compromise some pct. of a diversified portfolio

Sir_Gallonhead
Sir_Gallonhead

@Need_TLC
4000 car
status symbol

Kek

Poker_Star
Poker_Star

@TalkBomber
How much do u have

Techpill
Techpill

Looks like fud .gtfo

Sharpcharm
Sharpcharm

@lostmypassword
@FastChef

@Sir_Gallonhead
imblygin I didn't buy a 2000$ Ford Taurus and 3000 of it didn't go to drugs

when I say I'm a brainlet I really mean it my man.

SniperWish
SniperWish

@Lord_Tryzalot
ideal hedge
fluctuates +/-$1000 on an hourly bases
ideal hedge
30% volatility
ideal hedge
IDEAL HEDGE

TurtleCat
TurtleCat

@farquit
145 lb with cauliflower ear you weak faggot. How's it feel knowing I'm more rich and more deadly than you?

Raving_Cute
Raving_Cute

DAD KNOWS TONS OF PEOPLE WHO GOT HACKED!!!! COOL DAD!!!! Hey dad when will I know when life insurance is for me? Well son after the close call with the car accident I knew manulife was for me. But dad what about the premiums? Oh son there is no medical required and there is no fee to join. NO FEE TO JOIN ? Im gonna call Herb my manulife representative right now. Dad I have never felt closer to you than in this moment. Permission for a hug? JUst this once? .... permission gran----- oh no DAAAAAAAAAAAAAAAD welp thank god we got manulife insurance

Evilember
Evilember

@farquit
Your dad sounds like a fag, and so do you. I guess there is a fag gene

WebTool
WebTool

@Stupidasole
@TurtleCat
You're dad is fucking right and seems to have a decent grasp on what bitcoin is and how it is performing.
Buying at this price is more than just risky, it's borderline stupid.
Fuck these pajeets ITT pretending they didn't just buy the all-time high.

Spamalot
Spamalot

@SniperWish
No, it's the market that fluctuates around bitcoin. DOLLAR IS THE REAL SHITCOIN!

farquit
farquit

geezer is more capable with crypto than his son

Kys and save your family the embarrassment of having a financially retarded child

w8t4u
w8t4u

@Stupidasole
@TurtleCat
Retards like you and your way of thinking being here are the perfect example for why I sold.

PurpleCharger
PurpleCharger

@SniperWish

Goldbug detected

MPmaster
MPmaster

@Sharpcharm
God you are a fucking cuck. Are you going to ask your dad to show you how to go down on your girlfriend next?

Your dad is controlling asf. If that money was willed to you by your grandma I don't see why he has such power over how it is used.

SniperWish
SniperWish

@MPmaster
implying I have a gf

kid I spend most of my time on this site on r9k and s4s. if I ever did have a gf I'm sure he'd have some fascinating insights on how to do just that.

I had him hold on to my money because I don't trust myself not to blast it on drugs [spoiler]lol[/spoiler]

Ignoramus
Ignoramus

@SniperWish
oh for fucks sake, Veeky Forums doesn't even have spoilers? man this is a faggot ass board. Cant believe its this fast

Burnblaze
Burnblaze

@Stupidasole
user, your dad seems like a smart person.
My dad is like "no that's a scam they re trying to sell it on you, i saw it on tv"
He might not be wrong now bt when I was willing to put big money into it, it was below 1000

TalkBomber
TalkBomber

Tell your dad internet thinks he's a smart and a well reasoned man, but he could consider if those same traits have made him a little bit too self confident and thus ignorant. Internet recommends him to meditate on "only electricity and computer". This is an astonishingly thought provoking statement desu

Stupidasole
Stupidasole

@TurtleCat
father uses emoticons
Mcfucking commit patricide.

TreeEater
TreeEater

@FastChef
That's a weird defense of the usd.. It's valuable because the Feds spend it on the military to defend the us economy?

Bitcoin doesn't need a nation or organization to defend it... That's the beauty of it. So long as someone in the world has a copy of the ledger saved, nations could ban it and destroy hard drives and force it underground, but no one can ever kill it. So long as people believe it contains value, it will continue popping it's head up. It's a hydra that cannot be killed.

I think that's much more resilient than
hurr the government and military protect the value of the USD

Skullbone
Skullbone

tell your dad you want to suck his dick. post his reaction and your wallet. i'll send you .2 btc.

SniperGod
SniperGod

@Stupidasole
calling emojis emoticons
2017
gets trips

Crazy_Nice
Crazy_Nice

@Stupidasole
buy antminers for $2 a popo and mine 1-2btc a year with them altho that will go down halfway through next year. If you don't have anywhere to store and set them up then rent a shelf in a data centre.
THAT is how you invest in BTC. You can always mine something else if the market goes to shit on BTC. Well as long as it is compatible with antminers. Bcash is and bitbean among others. The only other one I would suggest would be monero but you need different miners for that. DYOR but I advise doing that. It could be a cool project you and your dad can set up together. Get mining!

Sharpcharm
Sharpcharm

@SniperGod
calling emoticons emojis
fuck off numale millennial faggot

Sir_Gallonhead
Sir_Gallonhead

@Stupidasole
@TurtleCat
investing in normie coin at ATH
wasted 5k on drugs
you deserve to lose it all fucktard your dad is right

whereismyname
whereismyname

@Stupidasole
dont be a jackass
invest everything into $LINK
hold a 5,000 position on REQ
profit 5000% q3 2019

give away 5 eth to biz after you make it cause of this post

Stark_Naked
Stark_Naked

@TreeEater
That's the thing. Economy doesn't care about your ideals. I'd trust dollar over bitcoin as a store of value any day precisely because of the reason his dad stated. Plus it doesn't fluctuate 10% on a hourly basis.

askme
askme

@whereismyname
Also do what this user says. Go all in on REQ, LINK and ARK. You'll be rich in 1 year.

Stark_Naked
Stark_Naked

@whereismyname
link and req
only 5000% gains by Q3 2019
are you out of your mind?

Boy_vs_Girl
Boy_vs_Girl

@Stupidasole
Your dads a faggot. And so are you.

PurpleCharger
PurpleCharger

@Sharpcharm

In today's information age boomers still manage to sound more sensible than millennials

I don't get you guys, I am the voice of reason in my family and I'm 23.

Convinced aunts, uncles and parents to give me money to buy BTC for 300 USD, now they want to double down and throw all their money into it and I don't let them

Nojokur
Nojokur

You R Young, yu can lose it all. so go all in

CouchChiller
CouchChiller

@SniperWish
You don't seem to understand hedging

hairygrape
hairygrape

@Stupidasole
@TurtleCat
Not a typical boomer. He seems a little more skeptical than the average informed person, but he is sure as hell much smarter than the average Veeky Forums tard that got lucky when smart people told them to buy a coin and now lord it over everyone as if they are part of the future

farquit
farquit

@Stupidasole
Yeah, why not buy something when it's at an all-time high, that's trading 101 right?

massdebater
massdebater

@Playboyize
lol

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