geekhack Community > Off Topic
What would you do with a small loan of $1 million?
YoungMichael88:
Put $500k all on black. The rest can go into crypto. If I hit red, I run away from my friend.
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Findecanor:
Nice trolling ... :rolleyes:
CaesarAZealad:
Two words. Raccoon Sanctuary.
Darthbaggins:
--- Quote from: YoungMichael88 on Mon, 18 October 2021, 10:26:46 ---Put $500k all on black. The rest can go into crypto. If I hit red, I run away from my friend.
Sent from my iPhone using Tapatalk Pro
--- End quote ---
This didn't age well, don't trust Crypto . . .
Leslieann:
This person is straight up gambling.
Crypto itself shouldn't be the issue, it's that crypto is highly volatile (also misleading).
You can do just as good or bad betting on AMC or Gamestop or any other "memestock". If you want to make money fast these can work for you, but they can also work very much against you. You're not going to earn a 300% return in a month from Apple or Microsoft stock but you're also not going to lose 300% either. Putting half your money on any one thing is bad, putting it on something volatile is just straight up gambling.
As for crypto going bad, that depends on perspective,
Zoom out and it looks more like a market correction, a significant one, but still a market correction. A year and ago there was a spike in prices, in 4 months it went from $10k to $58k and it suck there. Had Bitcoin held relatively steady growth like it had for the decade prior it would closer to $16 or $18k. Regardless, if you bought before the spike you still more than doubled your money if you hung onto it through the spike.
Chart showing the explosive growth, as of this morning.
If you want stable investment, do your homework look for something stable.
If you want to gamble and make big money, do your homework and run the risk.
Edit: added chart.
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