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Madhouse4568 t1_j2vv3tz wrote

So you can get an even bigger loss?


johnnyhammer t1_j2wau91 wrote

Do you even zoom out bro?


TrueBirch t1_j2xem4g wrote

Five years ago, Bitcoin's price was $15,145. Right now it's $16,849. That's an 11% increase. In the same timeframe, the S&P 500 has increased 41%.

EDIT: If you include inflation and S&P dividend reinvestment, Bitcoin looks even worse.


johnnyhammer t1_j2xg1np wrote

How about six years ago? Seven? Ten?


TrueBirch t1_j2y7gwc wrote

If you had gotten in right at the beginning, you could have made massive returns. I recently modeled the 5-year returns based on sale date. The days of getting filthy rich from buying $100 of Bitcoin are long past. If Bitcoin soared to $100,000 by the end of next year, you'd have roughly a 100% return over three years. There are plenty of penny stocks that offer a similar risk/reward profile.


johnnyhammer t1_j2y8x1g wrote

I noticed that you didn't answer the question, by the way. That shows me you aren't arguing with any honest intentions.


TrueBirch t1_j2yt7l7 wrote

My answer was "massive returns." Not sure how that's dishonest. I also linked to a chart quantifying what "massive returns" meant for 5-year holding at various points in time.


johnnyhammer t1_j2y8ht6 wrote

Did you just compare bitcoin to a penny stock?


TrueBirch t1_j2ytkmo wrote

Yes. If you're looking for a high-risk place to make a bet, you could do worse than a penny stock.


campionesidd t1_j2z47g3 wrote

How many people invested in BTC ten years ago? Very very few. BTC’s price is dependent entirely on how much money is invested in it. This is unlike the S&P500 for example where fundamentals like earnings, cash flow, growth etc matter.


johnnyhammer t1_j2z4ww3 wrote

Then why are you comparing the two?


campionesidd t1_j2zfmt3 wrote

Because BTC is far worse as an investment. In fact it isn’t even an investment imo, but pure speculation.