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  1. #1
    Betpartners's Avatar
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    Default It is official - I am too old for Bitcoin

    I got involved with Bitcoin roughly 18 months ago and have done ok with it but on more than one occasion made the wrong call and have probably not made as much from it as I had anticipated.

    Now, my 16-year-old came to me and asked if I could set him up an account and so forth, I agreed, he had his own money and even though he is underage for his own account I saw nothing wrong with it, he after all had his own money and is a clever sod.

    Bottom line is this, he has made far more money than me with a lot less investment and when he sits down to discuss the markets with me I have to admit he bamboozles me.

    He came to me a few weeks back and said Dad get out now, the price is set to drop and you can get back in soon afterwards. I ignored him.

    Alas, the value of my holdings has fallen and his has not.

    My 16-year-old is simply better at this game than me, I put it down to age, a bullshit excuse of course, but it works for me and makes me feel better.
    Arthritis Care

    To find true bravery and courage all one need do is look in to the eyes of a sick child - A humble parent

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  3. #2
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    Default

    value of my holdings has fallen
    This is quite alarming, if we talk about bitcoin, which is something that appreciated by 1000+% p.a. If you lost money, then you are trading. If you are trading, then you are gambling. It has nothing to do with bitcoin (or age).

    I know it is your son (and I was gambling [and losing] from 14 yrs age) and it is up to you, but you consider if you want to let him gamble. Esp. if big money is involved, disaster is coming.

    Crypto will be a long way ahead, all gamblers will be shaken away. There are millions of people now who think they can predict price movements, but they do not know anything. Even if they are winning, it means nothing. There are so many factors, FUDs and few big players who know what they are doing.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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  5. #3
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    My holdings fell because I did not sell when the price started to drop, no trading is done in the strictest sense of the word, probably sold and bought maybe 3 or 4 times in 18 months but seem to get it wrong each time.

    My son sold before the price dropped, again no trading, just a case of calling the markets right.

    I am still in profit as I stated in the first line when I said I was doing ok

    I did think about the moral implications of allowing him to use an account in my name but he has no interest in gambling just investing, he is one of those young men that always saves and is very sensible with his money, plus I retain full control as the account is in my name.

    With regards to the age thing, I was being lighthearted only, as I said "a bullshit excuse of course, but it works for me and makes me feel better"

    The whole post was not meant as something to be taken too serious just a Sunday post to pass the time.
    Arthritis Care

    To find true bravery and courage all one need do is look in to the eyes of a sick child - A humble parent

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    Maybe I am destroying your Sunday. For me Sunday is busy times. But playing with bitcoin, like buying and selling based on charts, is not investing. It is gambling. This is also why crypto is so successful. It is a new way of gambling. Serious investing is to buy and sell when it your bankroll dictates. Not where you chase the herd.

    Your son was just lucky, you were not, that is it. Still you are playing with your own money and you know how hard it was to make it. That was my point. Have a nice Sunday.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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    Nah, you have not destroyed my Sunday at all, my team not winning today is what has damaged my Sunday.

    Now, I will be doing some gambling tonight for sure, The Eagles +3.5 is just too juicy to pass up.

    Thanks for your input, have a nice evening
    Arthritis Care

    To find true bravery and courage all one need do is look in to the eyes of a sick child - A humble parent

  10. #6
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    Quote Originally Posted by Betpartners View Post
    I got involved with Bitcoin roughly 18 months ago and have done ok with it but on more than one occasion made the wrong call and have probably not made as much from it as I had anticipated.

    Now, my 16-year-old came to me and asked if I could set him up an account and so forth, I agreed, he had his own money and even though he is underage for his own account I saw nothing wrong with it, he after all had his own money and is a clever sod.

    Bottom line is this, he has made far more money than me with a lot less investment and when he sits down to discuss the markets with me I have to admit he bamboozles me.

    He came to me a few weeks back and said Dad get out now, the price is set to drop and you can get back in soon afterwards. I ignored him.

    Alas, the value of my holdings has fallen and his has not.

    My 16-year-old is simply better at this game than me, I put it down to age, a bullshit excuse of course, but it works for me and makes me feel better.
    You're never too old for anything that you really want to do.

    Don't worry about it and just always believe in yourself and what you aim to achieve in life.

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  12. #7
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    One day, in a few years from now, I plan on teaching my children all about the crazy crypto world. By then of course, who knows how much BTC will be worth.

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    Quote Originally Posted by Sherlock View Post
    Your son was just lucky, you were not, that is it. Still you are playing with your own money and you know how hard it was to make it. That was my point. Have a nice Sunday.
    +1


    And I suggest reading this thread for those of you who are margin trading and forget what "bankroll management" in poker means:


    https://www.reddit.com/r/BitcoinMark...is_past_month/

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