Topic: Wonder how much is the $1200 stimulus package worth now if invested on BTC? (Read 167 times)
May 07, 2020, 08:19:54 AM
Did the creator of this twitter want to say that people should have spent their stimulus checks on Bitcoin instead of sustaining themselves while they lost their jobs due to the coronavirus? Or maybe the goal here is to make people regret not buying Bitcoin earlier? Either way, it's really not productive, no one should be basing their investment decisions on some cherry-picked performance examples.
May 07, 2020, 06:01:00 AM
What BrewMaster said. A really interesting but at the same time really pointless data in my opinion. Things like this kinda promotes short-term thinking, which can definitely lead to really bad decisions from the holder.
True. If a person invests one's stimulus package, it should be only if this person doesn't actually need it right now and can afford to lose it. Now, in my opinion, given the current crisis donating this money to someone in need or to a local hospital would be a better move, but let's say one decided to buy BTC with it. Since it's not something one needs, it should be a long-term investment, and in that case it doesn't matter how much it's worth long-term. If a person cares how much it's worth because decided to risk with the money that this person actually needs, then selling immediately and not risking like that again is a good choice, as investing what one cannot afford to lose was a bad choice in the first place. 
May 07, 2020, 02:36:01 AM
That's a pretty cool thing, but surely everyone knows it was as likely to go down, than up, in this kind of economy where anything is possible in the short/medium term right?
We've got accusations of Justin Sun using stimulus money to become even richer, think ppl using theirs to buy bitcoin kinda goes in the same bracket. Even if I don't think it's wrong.
We've got accusations of Justin Sun using stimulus money to become even richer, think ppl using theirs to buy bitcoin kinda goes in the same bracket. Even if I don't think it's wrong.
May 07, 2020, 02:29:59 AM
interesting point for sure but we should remember that the short term changes are not important at all. the same small "profit" could have as easily be a loss (for example $1200 to $1050). the important thing is the long term and the fact that $1200 today could easily be $12000 in a year from now.
It isn't also signifying that we should just let our funds grow over time and do nothing about it when we have stored it on our wallets. These short term changes are important if we took advantage of it by properly executing decisions such as selling bitcoins when it became profitable in the short term, and buying bitcoins when we reach the short term dip. It impacts huge if we took advantage of these short term fluctuations.
Though, compared to other assets, it is better to buy BTC on a long term basis.
May 07, 2020, 12:49:25 AM
I get the point but wouldn't it be more useful if it was used for essential, unless that stimulus is a spare cash then it is alright. For me, advertising the stimulus package to attract people to invest is kind of strange, especially in this time where most of the family that are going to receive are in dire need of that cash. The quote below takes the cake for the other point where the well-off also wants a piece of the pie.
Then they shouldn't have taken the help from government at the first place. The sole intention of providing such money is to help their citizens deal with the current time and to increase the market demand. But if someone is really well-to-do then they shouldn't have taken such monetary help from the government. You can read the below article,
https://cryptopotato.com/coinbase-sees-1200-deposits-peak-following-first-us-stimulus-package-distribution/
I am sure FED probably had explicitly prohibited investment of this help but they can always come up with new rules and gives retrospective effect if they think their money is being misused.
Then they shouldn't have taken the help from government at the first place. The sole intention of providing such money is to help their citizens deal with the current time and to increase the market demand. But if someone is really well-to-do then they shouldn't have taken such monetary help from the government. You can read the below article,
https://cryptopotato.com/coinbase-sees-1200-deposits-peak-following-first-us-stimulus-package-distribution/
I am sure FED probably had explicitly prohibited investment of this help but they can always come up with new rules and gives retrospective effect if they think their money is being misused.
May 07, 2020, 12:38:59 AM
Lol! Let's just hope these people don't get tax notice for investing the support money to bitcoin! The stimulus package was intended to support the livelihood of US citizens and to increase market demand. Investing in bitcoin is going to solve the purpose. Let's just hope US Government does not retaliate on that!
But if the people are ok and have food, don't they have the right to use their money for the kind of investment they want to ? I think they do.
If the US government doesn't allow for bitcoin use or investment, then it can go after citizens who have invested in it but it is a right to if it is not outlawed.
Then they shouldn't have taken the help from government at the first place. The sole intention of providing such money is to help their citizens deal with the current time and to increase the market demand. But if someone is really well-to-do then they shouldn't have taken such monetary help from the government. You can read the below article,
https://cryptopotato.com/coinbase-sees-1200-deposits-peak-following-first-us-stimulus-package-distribution/
I am sure FED probably had not explicitly prohibited investment of this help but they can always come up with new rules and gives retrospective effect if they think their money is being misused.
May 07, 2020, 12:31:06 AM
The math is completely wrong.If the people spent 1.2 trillion USD buying Bitcoins,the BTC price would jump to
60-100K USD.
60-100K USD.
Where did you get that 1.2 trillion USD number anyway? No one here is assuming that 10,000,000,000 people will be dumping their stimilus money into bitcoin.
May 07, 2020, 12:22:26 AM
The math is completely wrong.If the people spent 1.2 trillion USD buying Bitcoins,the BTC price would jump to
60-100K USD.It's hard to determine how much the people will profit from buying BTC,because the ones that buy BTC early will buy at a lower price and the ones that are buying lately will spend more USD for BTC,so their profits will be less.This guy should learn math and calculus.
Anyway,this is a pretty pointless mind game,because there's no way that all the people will suddenly start buying BTC with all the money in their stimulus checks.They have to pay for food and bills.
60-100K USD.It's hard to determine how much the people will profit from buying BTC,because the ones that buy BTC early will buy at a lower price and the ones that are buying lately will spend more USD for BTC,so their profits will be less.This guy should learn math and calculus.
Anyway,this is a pretty pointless mind game,because there's no way that all the people will suddenly start buying BTC with all the money in their stimulus checks.They have to pay for food and bills.
May 07, 2020, 12:07:22 AM
Nice tracking, it could have gone either way. So it will be safer to long it for the persons who necessarily don't have immediate need for the money. But how many of them understand bitcoin?
May 06, 2020, 08:51:52 PM
Doesn't this just seem to kind of attack those who didn't invest lmao? It promotes something similar to a guilt emotion or something like that due to the "wasted" opportunity that those who received the stimulus check got. Ofc, I'm not saying that's the intention of the one who started the calculation but still, it's a rather wasted and pointless effort. Not to mention that instead of it bringing positive results, it might actually bring negative results due to it influencing those that received the check-in a bad way. Kind of like how people new to trading invest in the market when they see it going up since they think of it as a "wasted" opportunity.
May 06, 2020, 07:26:04 PM
Probably the author just wanted to self promote BTC as the savior in this pandemic. LOL.
But yes, this is a somewhat useless data to begin with. Bitcoin is very volatile, and I do hope that those who put their $1200 in the market really knows what they are doing. Maybe after the halving we may see the being split as well, from $1200 to $600.
But yes, this is a somewhat useless data to begin with. Bitcoin is very volatile, and I do hope that those who put their $1200 in the market really knows what they are doing. Maybe after the halving we may see the being split as well, from $1200 to $600.
May 06, 2020, 06:57:14 PM
What BrewMaster said. A really interesting but at the same time really pointless data in my opinion. Things like this kinda promotes short-term thinking, which can definitely lead to really bad decisions from the holder.
May 06, 2020, 05:50:21 PM
But if the people are ok and have food, don't they have the right to use their money for the kind of investment they want to ? I think they do.
If the US government doesn't allow for bitcoin use or investment, then it can go after citizens who have invested in it but it is a right to if it is not outlawed.
The government is providing the funds to take care of the family during the crisis to pay the rent and other bills and if anyone is having the ability to reinvest the amount then you might get into trouble when everything clams down.If the US government doesn't allow for bitcoin use or investment, then it can go after citizens who have invested in it but it is a right to if it is not outlawed.
@ It is a good tracker on identifying the price difference but i would like see any stats relating to how many invested the stimulus package in bitcoin
. May 06, 2020, 02:13:06 PM
Lol! Let's just hope these people don't get tax notice for investing the support money to bitcoin! The stimulus package was intended to support the livelihood of US citizens and to increase market demand. Investing in bitcoin is going to solve the purpose. Let's just hope US Government does not retaliate on that!
But if the people are ok and have food, don't they have the right to use their money for the kind of investment they want to ? I think they do.
If the US government doesn't allow for bitcoin use or investment, then it can go after citizens who have invested in it but it is a right to if it is not outlawed.
May 06, 2020, 12:34:43 PM
The argument starts with the, "only if".
Only if they've used the stimulus that they've received for purchasing bitcoin. But, how many of them actually did it and have kept it up to this moment? Good for those who actually did but can't say anything for those who thought of it but never did yet still, they have free package.
Only if they've used the stimulus that they've received for purchasing bitcoin. But, how many of them actually did it and have kept it up to this moment? Good for those who actually did but can't say anything for those who thought of it but never did yet still, they have free package.
May 06, 2020, 12:07:17 PM
So what exactly that guy is trying to do here. Rip off the back up money with unpredictable and more volatile than alcohol currency like BTC 
I had to make that sentence long enough to digest such savage thing. This guy is nuts if he is seriously putting that money in BTC and motivating others to do the same. Let me tell you that is gonna give bad thoughts to others by creating greed of earning some profits with this money.
FYI : I believe it is worth 100% profit since it is FREE money. lol.
I had to make that sentence long enough to digest such savage thing. This guy is nuts if he is seriously putting that money in BTC and motivating others to do the same. Let me tell you that is gonna give bad thoughts to others by creating greed of earning some profits with this money.
FYI : I believe it is worth 100% profit since it is FREE money. lol.
May 06, 2020, 11:45:18 AM
Lol! Let's just hope these people don't get tax notice for investing the support money to bitcoin! The stimulus package was intended to support the livelihood of US citizens and to increase market demand. Investing in bitcoin is going to solve the purpose. Let's just hope US Government does not retaliate on that!
May 06, 2020, 11:08:59 AM
interesting point for sure but we should remember that the short term changes are not important at all. the same small "profit" could have as easily be a loss (for example $1200 to $1050). the important thing is the long term and the fact that $1200 today could easily be $12000 in a year from now.
May 06, 2020, 10:46:40 AM
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