Purchase $1000 Each X 10 Digital Coins from BTC Market and Hold for 5 Years?

Aerith-Waifu on 14/02/2021 - 22:51
Last edited 15/02/2021 - 09:49 by 1 other user

Been thinking about this for a while now and I am really thinking I am going to do it very very soon (next 10 days)

The idea come from the recent highs of Bitcoin and all other ALT coins.

I am going to purchase $1000 each x 10 Types of coins and hold them for 5 years. Checking at 2026.

I am preparing to take a 80% loss if all things go south. However when you weight the upside it’s worth a gambling. When BTC is at $5 everyone says it’s too expensive, well it’s now a 12000 times return. Your $500 back then at $500 is now worth $600000 now! I am not saying BTC will times 12000 again. But some other coins might. As long as I am willing to take the 80% risk with time in my hand I might come on top.

What do you guys think? An idea not worth exploring or am I just mad???

Poll Options

  • 3
    Get $500 x 20 Types coins instead
  • 4
    Get $1000 x 10 Types of coins instead
  • 1
    Go with $5000 and $500 x 10 Types of coins instead
  • 2
    You are one mad man
  • 73
    As long as you are prepared to lose it all then it’s worth the risk
  • 4
    Just don’t do it!
Financial

Comments

  • Hybroid on 14/02/2021 - 23:09

    It's $1,000 not $100,000+. Doesn't need so much thought if you're already prepared to lose 80% of it.

    • Aerith-Waifu on 14/02/2021 - 23:17

      Sorry it’s $1000 each x 10 coins = $10000

      • Hybroid on 14/02/2021 - 23:19

        Same answer really. If you're already comfortable losing most of it, go for it. That's what an investment is.

        • Aerith-Waifu on 14/02/2021 - 23:20

          I am organizing the money as we speak. One thing is making me thinking is what ALT coins to buy

  • SF3 on 14/02/2021 - 23:12

    Timing.

  • TheBilly on 14/02/2021 - 23:12

    Just wait for this cycle to downturn then jump in.

  • whooah1979 on 14/02/2021 - 23:15

    Have you done DYOR?

    • Aerith-Waifu on 14/02/2021 - 23:19
      +1

      Nope, purely gamble with time investing

      • whooah1979 on 14/02/2021 - 23:21
        -1

        Ok. GL.

        • Aerith-Waifu on 14/02/2021 - 23:22

          Just need to figure out which coins to buy on BTC Market

          • whooah1979 on 14/02/2021 - 23:26
            -4

            @Aerith-Waifu: Sorry. Don't have time for gamblers.

            • Aerith-Waifu on 14/02/2021 - 23:45
              +2

              @whooah1979: well every investment is a gamble somehow, as long as one is able to accept the risk involved, then its just the return vs possible lose, at the moment no one knows if its an 80% lose or an 1000% gain yet. I didnt neg you

  • Tiredman on 14/02/2021 - 23:19

    Bitcoin meanwhile is $100 from $50k. So close..

    • Aerith-Waifu on 14/02/2021 - 23:22

      Just hit $64000 on BTC market

      • Tiredman on 14/02/2021 - 23:23
        +1

        Apologies. I meant USD.

        • Aerith-Waifu on 14/02/2021 - 23:40

          oh on btcmarket its aud

  • dddddog on 14/02/2021 - 23:23

    sounds good

    btc, eth, dot, ada, ksm, aave, snx, zil, rsr, reef

    • Aerith-Waifu on 14/02/2021 - 23:40

      These are the ones available on BTC Market at the moment, some of yours isn't available.

      Bitcoin
      Litecoin
      Ethereum
      Eth-Classic
      XRP
      OmiseGO
      Power Ledger
      Bitcoin Cash
      Basic Attention
      Golem
      Stellar Lumens
      Enjin Coin
      Chainlink
      Bitcoin SV
      Compound
      Algorand
      Meld Gold

      • skd100™ on 15/02/2021 - 09:52

        Out of those - BTC ETH LINK COMP ENJ

        Lowest risk would be $10,000 all in BTC. It will be very hard for BTC be overtaken by another crypto as a store of value. Plan B's S2F model estimates $US1m BTC by around 2026. So if you are satisfied with 20x, I would do $10k in BTC. Or perhaps $7k BTC $2k ETH $1k COMP. BNB is another coin I’d definitely want to hold for 5 years, but its not on BTC Markets.

        • Aerith-Waifu on 16/02/2021 - 03:18

          BTC can go to $250000 easy as people would consider it digital gold by then. However diversification is still the key I think.

  • Cave Fire on 14/02/2021 - 23:44
    +1

    there's yield farming that would give you income without waiting years? Pool from Cake is one, return is around 150% to 199% per year, with a 15% fee + withdrawal fees. You can also choose lower rates but guaranteed returns.

    • CheapandUsed on 15/02/2021 - 08:36

      Searching 'pool by cake' brings up the old women's weekly pool cake which was a memory I had long forgotten.

      Between this and 'staking', there really is a lot of side games going on in the whole crypto world.

  • [Deactivated] on 15/02/2021 - 00:20

    The main question is how closely are you going to watch? I was just thinking about the guy who paid for two pizzas with 10,000 bitcoin that would now be worth US$500,000,000 and what it would take to have waited patiently.

    • xazark on 15/02/2021 - 00:59
      +5

      if he didn't buy those pizzas,bitcoin wouldn't be worth anything - that was the catalyst that made people understand that bitcoin could be used as a currency

    • Aerith-Waifu on 15/02/2021 - 02:34

      Thinking about every 3 month or every 6 month I will login and have a look once bought.

  • Sum-Ting Wong on 15/02/2021 - 00:33
    +4

    Someone already did this and has tracked their performance: https://toptencryptoindexfund.com/tracking-2018-top-10-crypt…

    • DingoBilly on 15/02/2021 - 08:47

      This is about what I'd expect.

      The problem with diversifying in crypto is a lot of altcoins are going to lose money.

      So you're really expecting one coin to go up 1000% or so to make up for it, and I think that time has long gone.

      Looks like even he has done the comparison and found he'd be better off most likely investing in an index fund vs. crypto near bottom.

      • Aerith-Waifu on 16/02/2021 - 03:16

        Totally agree. I think most likely a lose of 8/10, but u only need 1 or 2 that shines to make it all back.

        Hence the 80% risk of losing I mentioned

  • dddddog on 15/02/2021 - 00:53

    I put A$2600 into Polkastarter on 1 January last month. It was about 3000 tokens. It went up and I cashed out on Feb 3 and divided that up to both DOT and AAVE. those went up and I have about A$13-14k now

    However if I kept in Polkastarter, that would be worth about A$19k

    Either way, extremely happy that I picked good projects and that I'm up. You can never lock the top.

    Crypto is absolutely mad right now. Dip your toes in if you feel like. Strong fundamental trump's all

    My only regret was not just getting 1 bitcoin In October when they were A$15k. Because having BTC is the end goal

    • Aerith-Waifu on 15/02/2021 - 02:36

      This is something I am trying to achieve. Set and forget and waiting for it boom or lose kind of scenario.

  • SBOB on 15/02/2021 - 05:21

    If you're limiting it to btcmarket, I don't think there are 10 I would consider 10 year prospects.

    There is only about 4 I would be making 10yr hopes on and probably only 2 I'd actually buy and ignore for 10 years and hope .

    • Aerith-Waifu on 16/02/2021 - 03:15

      I just opened up coinspot also. Will do some research on what to buy on the coinspot.

      Any suggestions will be greatly appreciated

  • Danstar on 15/02/2021 - 05:24

    Cardano

  • JIMB0 on 15/02/2021 - 06:24
    -4

    Have you considered playing the lotteries or perhaps roulette if you live near a casino.

  • Tiredman on 15/02/2021 - 08:39

    If you really want to do it, just stick to the large caps. Not Tether though, that's a stablecoin.

    https://www.coingecko.com/en

    Coinspot will give you much more options.

    • Aerith-Waifu on 16/02/2021 - 03:14

      Thanks I just signed up and got the $20

      But I do think their fees are higher though

  • MrBear on 15/02/2021 - 09:37
    -4

    Putting money on every number of the roulette wheel can't make me lose either.. :D

    • Aerith-Waifu on 16/02/2021 - 03:13

      You have never gambled I see. Keep it that way

  • balloontree on 15/02/2021 - 09:43

    Just get bitcoin, coins are like software projects.

    Some gotten out of favor, some superseded, and you are not aware of it and lose your coins because you didn't migrate it before the cut off date.

    Keeping on exchanges or mobile wallet, or nano ledger?

    Bitcoin would be much cleaner, easier and risk free

    • Aerith-Waifu on 16/02/2021 - 03:13
      -1

      I wouldn’t call BTC risk free when it went up 20 times from last year low already

  • jv on 15/02/2021 - 11:00

    and Hold for 5 Years?

    In the words of the famous trader, K. Rodgers.

    You've got to know when to hold 'em
    Know when to fold 'em
    Know when to walk away
    And know when to run!!!

    • Aerith-Waifu on 16/02/2021 - 03:21

      And if we can achieve all the knows why would we even need to invest in the first place? Because someone already mastered the art should know exactly what makes money and what doesn’t?

      • jv on 16/02/2021 - 09:24

        So if you don't mind my sayin'
        I can see you're out of aces

  • maiuspala on 15/02/2021 - 11:17
    +2

    I see similarities in crypto boom and .com boom.
    Crypto is a new technology that is going to change our life, but we dont know in which direction yet.
    There would have been a lot to gain or lose from buying tech stock back then, but none of us knows which coins will be winners, which not (eg yahoo, aol, microsoft etc)

    • Aerith-Waifu on 16/02/2021 - 03:12

      Remind me if Amazon stocks

  • Daniel Plainview on 15/02/2021 - 16:21
    +1

    With all due respect, seems a pretty think line between such an approach and straight out gambling - and I'd say the latter has a couple of big advantages as you know exactly how they work and the results will be near instant i.e go bet red/black at roulette. As a pure money making exercise I think the strategy is poor and would either go a straight gamble or a more certain 'investment' - this seems like neither.

    Of course whether it's a 'good idea' depends in all kinds of variables involving the OP's own finances etc - if it's a big portion of his savings vs weekend play money etc.

    Does open an interesting discussion about where investing and gambling differ/crossover into each other.

    • jshn on 15/02/2021 - 22:40
      -1

      I think this is good.

      straight gambling or proper investment, you can try investment on other country for example Indonesia. with some good company you predict not going down in the next 5years it will be good. because idk about Aus stock.

    • Aerith-Waifu on 16/02/2021 - 03:12

      I think it’s more of a balance reward vs risk kind of situation. I don’t think it quiet compares when it comes to pure gaming where you put on black and when red comes then there goes your money. This is more like buying all the cheap shares on the stock market and hoping one day one of these companies will become a giant. Many years ago FMG by memory was only a penny stock. Had you invested $1000 in it back then, you would be a multi millionaire by now. What am I about to do has the same mentality

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