this post was submitted on 19 Feb 2025
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Let me tell you a story... I sold off all my Bitcoin and put it all into GME stock right when it was starting to go up... Because why not right? It wasn't much like it was worth 1000 bucks or something... Because everyone said the bitcoin bubble was going to pop or something... And then Bitcoin went from 30k to 60k in like two months... And now it's closer to 100k
Long story short I make bad choices and no fuckin way I'm selling my GME for a loss just for it to double or triple again in two months
-whispers into your ear-
You should sell.
I think people underestimate the mental health benefits of never thinking about whether number you can’t control or predict go up or down.
Yup. I buy broad index funds, and the only time I need to think about it is when I do my taxes. I check more often, but more out of curiosity than anything (I like seeing line go up).
I already said it but my investment is less than it's worth and I really don't care about it.. if it does go back up a lot I would rather have it and be able to sell then do another Bitcoin situation
I see you jack.
God, where's the 30rock Lemmy?
https://dubvee.org/c/30rock
Where is the /s?
WHERE IS THE /S?
It's really greentext
It's not I assure you... I paid like 50 bucks for the Bitcoin I think maybe 100 at most... I had it for a while... I don't care about the money it's mostly written off I just let it sit at this point because you can't time the market or something
It's more a commentary on your writing style, but the potential for satireality is written all over it.
I blame the lack of attention, and focus... But I guess your right...
Wow, talk about sunk cost fallacy...
Nah my initial investment wasn't nearly as much in Bitcoin...
The amount of the investment is irrelevant, what's important is the expected future return. Do you expect GME to increase faster than other options in some time frame? If not, sell it and invest in something with a higher expected return. Likewise for Bitcoin.
Whether something is currently up or down is irrelevant, as is the amount of your investment. The only relevant detail is the expected return and risk (variation) in the investment. Anything else is just gambling.
Taking the loss on GameStop is something you can take as a tax write-off for years (depending on the size of loss).