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Re: Bitcoin or bitecoin

Posted: Mon Feb 19, 2018 8:35 am
by Prodigal_Sun
BlacktopTravelr wrote:
Prodigal_Sun wrote: Doubling your money is thinking too small. “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” -Albert Einstein
It may be thinking too small, but a lot of people have lost a fortune by thinking it'll go up just a little bit more tomorrow and then I'll sell and the next day the bottom drops out. Especially with penny stocks and bitcoins or electro-money as some want to call it. :soda:
That's the point of getting my initial investment back out of it. Once I get the money I put in back out, if it makes money great, if it doesn't, oh well. I'm not really out anything.

I guess most just keep feeding into it. They invest like they're making car payments? Then they lose track of how much they've spent, and what price they paid for it. All they see is how much it's "worth". The value only matters relative to what you paid for it.

I'm only even doing this out of boredom while I save up and figure out how to find a good mutual fund.