If you’re trying to get rich quick by timing the market, speculate on bitcoin. It’s so volatile that the price wildly swings by +-1 $1000 almost each day…So it’s perfect for people who try to time the market.
On the other hand, if you plan on doing a long term buy and accumulate and actually invest, drip a few hundred/thousand into an S&P500 index every month for the next 5-10 years and forget about it.[/quote]
20 something medical assistant at work was really gun-ho about bit coin, quieted down some over the last couple of weeks…[/quote]
I am not one to comment about it. I just don’t get bitcoin or crypto currency for that matter. I know the few younger engineers that work for me are crazy about it. the rest of the older engineers are like WTF..The ones talking about it are the ones that were still in college a few years ago when they bought a few coins around $100, not now when it’s $15k… I think for most of them, they are trying to figure out how to sell and pay taxes on it. some are trying to convert into hard money like gold bullion. i think that might be why if you go to eBay these days and look at some of the coin purchases from leading reputable dealers, you’ll suddenly see a lot of block purchases in which some purchases 35 1 ounce coins at once, at $1300ish a piece when prices where such that those coins were $40 above spot prices when gold was still in the $1280ies…some people were in hurry to buy a lot of gold quickly. it didn’t use to happen so frequently I think, and especially not when the spread from spot was that large. I could be wrong, but I swear there is uptick in these larger transactions and I am guessing it’s all the crypto currency holders converting into hard currency…. One of my friends did mention Bitcoin to me back years ago when it appeared in wired magazine. He was very anti-stock market and traditional speculation in the markets. Hopefully, he took advantage of the opportunity.
