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Are members invested in Bitcoin/crypto?

sgrenald
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ReturnOfUltraman ReturnOfUltraman
I never give friends or family financial advice or nudge them in either direction. Because when things are good, they don’t say anything, but as soon as there’s a downturn (like the last few days), they all come running back! 🙄

I have no problems recommending that friends and family don't invest in crypto, unless they can afford to lose all of the investment. I also generally don't have a problem telling someone to not invest in something, in general. Usually I give a reason for my recommendation, rather than just saying "don't buy this stock"
 
Walrus
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Just a message to my crypto homies, keep those diamond hands, don’t let the FUD get you down, you can buy your wife shoes with diamonds in their soles, just because
 
The Father
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ReturnOfUltraman ReturnOfUltraman
I never give friends or family financial advice or nudge them in either direction. Because when things are good, they don’t say anything, but as soon as there’s a downturn (like the last few days), they all come running back! 🙄

My niece is a big wheel at major Wall Street firm. I have asked a couple time for financial ideas. Zip zero nada. Evil eye. Now I just ask ask if she plundered any old ladies retirement fund with derivatives.
 
Walrus
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The Father The Father
My niece is a big wheel at major Wall Street firm. I have asked a couple time for financial ideas. Zip zero nada. Evil eye. Now I just ask ask if she plundered any old ladies retirement fund with derivatives.
What is up with that. I have friends and family that have worked high up in hedge funds and finance. One of them gave us a tip but it took a good decade, mind you it worked out very well and it’s something I never would have thought of. Maybe they are using so much insider info they don’t want to implicate people. Probably not but if I had info that had at least a 40% chance of a hundred percent gain I would tell people close to me, I’d tell them do their due diligence of course but I like to see people do well. Or tell them to ask their financial advisor what they thought about it.

Crypto definitely is not for everybody but IMO it’s a positive move for everyone to get a solid ETF or mutual fund then you can mess around with stocks a bit if you have the inclination and time to research. I guess that is a good thing about fractional shares it opened the door to more people.

All the time I been here and those cool stock threads a few people started were interesting. Nobody gave any advice just talking and saying what worked for a particular person. I always enjoyed the hec out of those but they tend to get shut down. Not complaining just explaining. I had some interesting info about gold that actually came to fruition. I would have written it in that thread not saying people should get it, I was just a little ahead of the curve not from the big boys but from someone who read some published findings prior to it becoming main stream news.

Damn sorry wandered off topic, yeah so everyone buy bitcoin for lambos or if you like unicorns and llamas get ethereum. Sound financial advice there.
 
ReturnOfUltraman
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Walrus Walrus
Damn sorry wandered off topic, yeah so everyone buy bitcoin for lambos or if you like unicorns and llamas get ethereum. Sound financial advice there.
How much crypto do I need to buy to fit llamas inside my lambo?
 
sgrenald
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The Father The Father
My niece is a big wheel at major Wall Street firm. I have asked a couple time for financial ideas. Zip zero nada. Evil eye. Now I just ask ask if she plundered any old ladies retirement fund with derivatives.

I can see how that could get her into a lot of trouble. I have friends who've worked for places like Deloitte, and they're given a list of companies whose stock they can't purchase because they are clients of the firm. So they basically are stuck buying mutual funds.
 
Walrus
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Any apes going YOLO on AMC? As someone who made money recently on doge, gme and a lottery ticket the best financial advice I can give at this point is just be an idiot.
 
Dsloan
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Walrus Walrus
Any apes going YOLO on AMC? As someone who made money recently on doge, gme and a lottery ticket the best financial advice I can give at this point is just be an idiot.

Not personally, but I did have a couple of friends calling me up asking me to explain theta and vega for options trading. One of them made ~$1K on an AMC weekly, but then blew half of the proceeds on a 40C 5/28 that they bought this morning. 🙄
 
Walrus
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Dsloan Dsloan
Not personally, but I did have a couple of friends calling me up asking me to explain theta and vega for options trading. One of them made ~$1K on an AMC weekly, but then blew half of the proceeds on a 40C 5/28 that they bought this morning. 🙄
40 on 5/28 damn he is a true ape. Gotta say I’m not going Yolo but I am going a little ape on AMC. Already took out my initial plus, I know that’s against the rules but my wife works from home right now I need her assistance on these matters and she is definitely not full ape. I just needed some excitement I think and she is a good buffer between me and being a complete degenerate gambler. I’m glad I can get into this stuff again, a few years ago I got an injury that really had me walking the razors edge. By some miracle I didn’t have to sell my crypto or touch any retirement stuff I was so close to being there but Uber came out so highly overvalued I shorted every penny I could on it and it really helped. I still have yet to get a ride in an Uber I gotta make a point to do that to thank them. That’s the funny thing about life, we never know what’s going to happen next but it always does and it never asks our opinion. I guess if you don’t give up you always have a chance, don’t give up.
 
Walrus
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Eth and btc showing signs of life, AMC, well.....,.
 
Dsloan
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Tony C. Tony C.
Nassim Taleb has recently authored a paper on Bitcoin (and blockchain). Probably worth reading, given how prescient he was with the MBS crisis, Madoff, etc. Here's a link to where you can download it:

https://twitter.com/nntaleb/status/1406733141910376448

I think many cyrpto proponents would agree that Bitcoin provides questionable utility. I think there's a lot of interesting advancements happening in crypto at the moment, but it could also be worthless tech in the future.

That said, I dipped my toes into yield farming lately and that's been fun. At first, I felt like some sort of cyberpunk rebel. But, I soon felt like a schmuck trying to run my own tiny bank without IT support.
 
321Only
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321Only 321Only
Sorry if I stress this too much but maybe this helps understanding my personal perspective.
Regarding the health of our fiat monetary system. We are currently in a serious economic crisis, just have a look at the balance sheets of our central banks:

FED: M1 Money Stock is currently at 6,812 billion dollars of which 2,849 where created/printed since Jan 2020. That’s an increase of 71% in the M1 money stock of the USD.

ECB: The balance sheet of the ECB blew up by 52% from 4,671 to 7,079 billion EUR in the same time period.


Interest rates on government bonds (short, mid and long term) are almost all negative, the US is one of the few examples with positive interest rates ....

Since the market cooled off a bit it might be a good time to update my post from the beginning of the year.

The ECB is doing it's best to make new all-time highs on their balance sheet.
7,877 billion EUR in total assets. +13% from January to July of 2021 and + 69% increase from January 2020 to July 2021. It took Christine Lagarde and the banking gang no less than 7 months to generate 1,000 billion EUR out of thin air which is roughly the equivalent of the central banks total assets before the financial crisis of 2008.

Meanwhile, lots of retail banks in Germany lowered the equity threshold to apply negative interest rates on private customers in the area around 50k or 25k. We even see local banks asking their customers to pay negative rates on bank accounts larger than 10,000 €.


Sources:
https://fred.stlouisfed.org/series/ECBASSETSW
https://www.focus.de/finanzen/banke...vzinsen-fuer-ihr-geld-zahlen_id_11547037.html
https://www.spglobal.com/marketinte...nvent-themselves-in-quest-for-profit-65136232
 
Mugul
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I’m a fan... Booked a nice profit from BTC earlier this year and utilized some of the proceeds to buy my first Omega ::psy:: (Ti PO 43.5mm grey/orange)

Now I’m slowly starting a position in Etherium and will add over time and on dips. Maybe get another omega when it takes off again ;(
 
Doc Savage
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This thread has practically dropped off the map during our current "dip" in the crypto markets. It has been interesting (and unfortunate) to see all the panic selling that went on during the past few months, but it offers a buying opportunity if you still believe your favorite crypto has legs and will make new all-time highs in the foreseeable future.

The real unknown is this: are we fully in the pullback/consolidation phase of bitcoin's 4-year price cycle yet? Or is this pullback temporary, and we hit new highs before the long-term drawdown happens? If we are in the 2nd post-halving phase, we probably have quite some time to wait for some good bitcoin news.
 
keywerd
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Who's escaped the cryptocurrency doldrums and jumped into NFT's?
 
Walrus
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Doc Savage Doc Savage
This thread has practically dropped off the map during our current "dip" in the crypto markets. It has been interesting (and unfortunate) to see all the panic selling that went on during the past few months, but it offers a buying opportunity if you still believe your favorite crypto has legs and will make new all-time highs in the foreseeable future.

The real unknown is this: are we fully in the pullback/consolidation phase of bitcoin's 4-year price cycle yet? Or is this pullback temporary, and we hit new highs before the long-term drawdown happens? If we are in the 2nd post-halving phase, we probably have quite some time to wait for some good bitcoin news.
Either one believes in the further adoption of Bitcoin and ethereum along with some other cryptos or one doesn’t. It is always unfortunate for those who bought at an ATH and suffer a 50% drop but there are many who bought, well even a year ago and are up substantially. The FOMO has certainly died down but as one looks at crypto performance it helps to zoom out to get the full picture. Bitcoin has been declared dead 130 times now. The things that are possible with ethereum are quite amazing. I like to hear those who think it’s a scam or pyramid Scheme etc, it’s good to look at all sides of everything. I think around here there is more anti Bitcoin/crypto sentiment which is fine. As far as NFT’s go it is not out of the realm of possibility stocks will be NFT’s or traded on ethereum (over simplified explanation) block chain technology was used in some of the programs that handled vaccination appointments. IBM has been building on it, medical records the technology behind Bitcoin has already done quite a bit to help man kind. And it was given free and open source to the world, that part of it will always amaze me. I’m fine with people not liking it, I don’t like broccoli that much but I don’t tell people it’s bad. I eat it cause they say it’s healthy and my wife likes it. Now broccoli rabe, that’s pretty darn good.
 
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