Bitcoin and crypto ignorance

[Rocket]

Yep. They take big risk in other ventures, yet the stock market, at least in the USA, has returned 10% a year. Even with the crash in 2008, if one had held and not sold, they would have recovered and then continue to make much higher returns. The last five years have been spectacular.
Trying to time the market is very difficult. Stocks often make their largest % gains in just days or weeks during the year. So just staying in so you don’t miss that period is crucial. I’m guilty of trying to time getting in and out and it’s cost me dearly the majority of the time.
Time in the market, beats timing the market. Whoever came up with that was right.

[Jun]

Time in the market, beats timing the market. Whoever came up with that was right.

The problem is that timing the market isn't easy, so staying in the market avoids such mistakes.

However, I'm not going to be putting money into the US market when it's so expensive on various valuation metrics. https://www.multpl.com/s-p-500-pe-ratio

[Gaybutton]

If this ever catches on to the point at which I'm forced to deal with it, I hope it won't be any time soon. At my stage of the game it is the last thing I want to have to mess with. I'd probably have to take a course just to try to comprehend it. And then I probably still won't understand it or want to deal with it.

[Rocket]

If this ever catches on to the point at which I'm forced to deal with it, I hope it won't be any time soon. At my stage of the game it is the last thing I want to have to mess with. I'd probably have to take a course just to try to comprehend it. And then I probably still won't understand it or want to deal with it.

I don’t think you’ll have to worry about it. If you have a 401k or similar plan, you might already be invested in it.

As far as using it. Just another app on your smartphone. It will be made simple for the masses.

Buying bitcoin and storing it on a hardware device is challenging. Many steps to take and a wrong digital entry can be a loss of it all. Some Brit threw away his hard drive in a landfill and has been trying to recover it for years. He even tried to buy the landfill I believe. The bitcoin is worth many millions now, maybe a billion dollars. I’m sure he’s had many sleepless nights.

[Gaybutton]

I don’t think you’ll have to worry about it. If you have a 401k or similar plan, you might already be invested in it.

No. I don't do investments. I never did. Not that my income source is anyone's business other than my own (and IRS), but I don't have a 401K.

I don't understand bitcoin and quite frankly I don't want to. My income method suits me just fine as it is. I hope that won't change, at least not during what's left of my lifetime.