Liberal Forum

I have been researching crypto lately. I still have a lot more to learn about it. It has fascinating though. I have made more on crypto than regular stocks. A lot more. Some economists think that Bitcoin will gain enough momentum to be the world's next standard currency. It's already globally among some governments. 

I don't know if this good or bad. However, I am convinced that it is here to stay. It isn't going anywhere. Therefore, adapt or die, I guess. 


Thoughts? 

Vegas » 17 Dec 2023, 2:11 pm » wrote: ↑

17 Dec 2023, 2:11 pm

I have been researching crypto lately. I still have a lot more to learn about it. It has fascinating though. I have made more on crypto than regular stocks. A lot more. Some economists think that Bitcoin will gain enough momentum to be the world's next standard currency. It's already globally among some governments. 

I don't know if this good or bad. However, I am convinced that it is here to stay. It isn't going anywhere. Therefore, adapt or die, I guess. 

Thoughts?

If you can sleep well knowing that you can cover your losses that's what matters.
What are you betting against here...?

GHETTOBLASTER » 17 Dec 2023, 2:26 pm » wrote: ↑

17 Dec 2023, 2:26 pm

If you can sleep well knowing that you can cover your losses that's what matters.
What are you betting against here...?

I don't know what I am betting for or against. Crypto is just as corrupt as ETH. You have to know which way the corruption is going to swing and then grab onto it. Hopefully you were right. 

The thing to do is to subscribe to a financial guru who "EATS HIS OWN COOKING"...when it comes to dispensing advice..
[Always go with a Jew....whenever possible].

GHETTOBLASTER » 17 Dec 2023, 3:02 pm » wrote: ↑

17 Dec 2023, 3:02 pm

The thing to do is to subscribe to a financial guru who "EATS HIS OWN COOKING"...when it comes to dispensing advice..
[Always go with a Jew....whenever possible].

I have one of those, not a Jew. I can't deal with them. 

Vegas » 17 Dec 2023, 3:16 pm » wrote: ↑

17 Dec 2023, 3:16 pm

I have one of those, not a Jew. I can't deal with them.

Be careful Vegasl. My doc lost all his money in the last scandal.
remember the kid with the frizzy hair? Forgot his name.
When that went down all the places tied to That- went broke too.
and people couldn't get a dime of it back. He lost a ton of money.

 

sootedupCyndi » 18 Dec 2023, 3:27 am » wrote: ↑

18 Dec 2023, 3:27 am

Be careful Vegasl. My doc lost all his money in the last scandal.
remember the kid with the frizzy hair? Forgot his name.
When that went down all the places tied to That- went broke too.
and people couldn't get a dime of it back. He lost a ton of money.

I am pretty careful. I never invest what I can't afford to lose. 

Vegas » 17 Dec 2023, 2:11 pm » wrote: ↑

17 Dec 2023, 2:11 pm

I have been researching crypto lately. I still have a lot more to learn about it. It has fascinating though. I have made more on crypto than regular stocks. A lot more. Some economists think that Bitcoin will gain enough momentum to be the world's next standard currency. It's already globally among some governments. 

I don't know if this good or bad. However, I am convinced that it is here to stay. It isn't going anywhere. Therefore, adapt or die, I guess. 

Thoughts?

Study real hard! 

A couple of months ago you were buying Puts on bank stocks and said the housing market would crash.

Most bank stocks went up and home prices in Las Vegas also have gone up.

Buy your wife a house!

No charge for that free advice.
 

Fuelman » 18 Dec 2023, 1:00 pm » wrote: ↑

18 Dec 2023, 1:00 pm

Study real hard! 

A couple of months ago you were buying Puts on bank stocks and said the housing market would crash.

Most bank stocks went up and home prices in Las Vegas also have gone up.

Buy your wife a house!

No charge for that free advice.

I am studying. I never invest more than I can afford to lose. Crypto is a fascinating currency. I still am trying to grasp its' concept.

Digital currency? WTH?

Then it occurred to me that the US dollar is backed by absolutely nothing, yet we live in it. I guess one is backed by a promise from the government and the other is backed by an agreement of the people that it has worth. I don't know. It's just a weird concept that works. 

Vegas » 17 Dec 2023, 2:11 pm » wrote: ↑

17 Dec 2023, 2:11 pm

I have been researching crypto lately. I still have a lot more to learn about it. It has fascinating though. I have made more on crypto than regular stocks. A lot more. Some economists think that Bitcoin will gain enough momentum to be the world's next standard currency. It's already globally among some governments. 

I don't know if this good or bad. However, I am convinced that it is here to stay. It isn't going anywhere. Therefore, adapt or die, I guess. 

Thoughts?

I don't find Crypto Currencies interesting as investments.   I am sure there is money to be made, and lost, in Crypto.  Just not for me. But, to be fair, I'll give you my reasons for not investing in it:

• Crypto Currencies don't actually make income, except perhaps by "mining" activities.  I admit, I do not fully understand Bitcoin mining, but I know enough to know that it is not quantifiable in the same manner as traditional publicly traded companies.  And, no one has ever been able to explain "mining" to me in a way that it would better me by simply owning some bitcoin.  If anything, mining seems to dilute bitcoin holdings;
• At any time, any government can step in and create their own digital currencies;
• At any time, the US and/or other nations can outlaw digital currencies that are not controlled by the Fed - I don't trust ANY governments.
• Crypto currencies are more like fixed commodities like gold and not really like currency at all.  So, if I want something like Gold, I'll stock to buying physical gold, platinum, palladium, rhodium, and/or silver. At least this ****'s "shiny", and impresses chicks.
• Many stocks perform as good or better than Cryto Currencies.  Publicly traded stocks are easy for me to compare and contrast based on quarterly reports.

 

Skans » 18 Dec 2023, 1:28 pm » wrote: ↑

18 Dec 2023, 1:28 pm

I don't find Crypto Currencies interesting as investments.   I am sure there is money to be made, and lost, in Crypto.  Just not for me. But, to be fair, I'll give you my reasons for not investing in it:

• Crypto Currencies don't actually make income, except perhaps by "mining" activities.  I admit, I do not fully understand Bitcoin mining, but I know enough to know that it is not quantifiable in the same manner as traditional publicly traded companies.  And, no one has ever been able to explain "mining" to me in a way that it would better me by simply owning some bitcoin.  If anything, mining seems to dilute bitcoin holdings;

You can make money. I have. It still can be converted to dollars. It's just a different currency, but as long as it can be converted, then money can be made. 

• At any time, any government can step in and create their own digital currencies;
• At any time, the US and/or other nations can outlaw digital currencies that are not controlled by the Fed - I don't trust ANY governments.
• Crypto currencies are more like fixed commodities like gold and not really like currency at all.  So, if I want something like Gold, I'll stock to buying physical gold, platinum, palladium, rhodium, and/or silver. At least this ****'s "shiny", and impresses chicks.
• Many stocks perform as good or better than Cryto Currencies.  Publicly traded stocks are easy for me to compare and contrast based on quarterly reports.

I agree with all of this. I think in the long run the government will step in and mess it all up like they do everything else. 

Vegas » 18 Dec 2023, 1:34 pm » wrote: ↑

18 Dec 2023, 1:34 pm

You can make money. I have. It still can be converted to dollars. It's just a different currency, but as long as it can be converted, then money can be made. 

I agree with all of this. I think in the long run the government will step in and mess it all up like they do everything else.

Is there any quantifiable model to the money you've made in Crypto?  Or, are you just betting that the demand for Bitcoin will go up over time?

As a somewhat simple example, If I buy and hold a stable dividend stock over the long term, I can actually determine what a good or reasonable price to pay for that stock would be based on 1) stability of past dividends and 2) past divided growth.  So, when the trend turns toward Big Tech, Big Banks, etc. and away from Dividend stocks, that's typically when I look to buy more.
 
 
 

Vegas » 18 Dec 2023, 1:04 pm » wrote: ↑

18 Dec 2023, 1:04 pm

I am studying. I never invest more than I can afford to lose. Crypto is a fascinating currency. I still am trying to grasp its' concept.

Digital currency? WTH?

Then it occurred to me that the US dollar is backed by absolutely nothing, yet we live in it. I guess one is backed by a promise from the government and the other is backed by an agreement of the people that it has worth. I don't know. It's just a weird concept that works.

You are not the first or last person trying to make money in the markets. 

Study this:

Is rent expensive in Las Vegas?What is the average rent in Las Vegas, NV? As of December 2023, the average rent in Las Vegas, NV is $1,233 per month. When you rent an apartment in Las Vegas, you can expect to pay about $990 per month for a studio, $1,233 for a one-bedroom apartment, and around $1,485 for a two-bedroom apartment

Pull out one of those fancy calculators and see how much money isn't going into your pockets.

Buy your wife a house!

Question? If you hit a few home runs trading, will you buy a house?
 

Vegas » 18 Dec 2023, 1:04 pm » wrote: ↑

18 Dec 2023, 1:04 pm

Then it occurred to me that the US dollar is backed by absolutely nothing, yet we live in it. I guess one is backed by a promise from the government and the other is backed by an agreement of the people that it has worth. I don't know. It's just a weird concept that works.

I don't totally agree with this.  Consider this:

• The US currency is somewhat stabilized by the FED, and it is an easy currency to use for buying other things.  There is value to the currency being regulated by a Federal Reserve such as the one the US has.  You don't have to believe me.  Believe Big Corp.  Believe wealthy investors.  Because, the world's biggest companies and wealthiest investors use USD to transact business.
• Only a fool, and currency speculators, hold large amounts of USD.  Most of what I have is either in real estate or ownership of publicly traded companies.  I keep very litle cash on hand. 
• When you hear of a guy having a net worth of over $2M USD, that doesn't mean he is holding any USD.  Its merely a unit of measurement, that's all.
• If I own $50,000 of IBM, and the Fed decides to "print money" using a bunch of new IBM computers they plan on purchasing to do this, my IBM stock will increase in value and price.  It will increase in price partially due to inflation, and partially due to the massive amount of new business it will be getting.  So, in this case, my owning IBM stock is not adversely impacted by the printing of more money. 

 

Fuelman » 18 Dec 2023, 1:57 pm » wrote: ↑

18 Dec 2023, 1:57 pm

You are not the first or last person trying to make money in the markets. 

Study this:

Is rent expensive in Las Vegas?What is the average rent in Las Vegas, NV? As of December 2023, the average rent in Las Vegas, NV is $1,233 per month. When you rent an apartment in Las Vegas, you can expect to pay about $990 per month for a studio, $1,233 for a one-bedroom apartment, and around $1,485 for a two-bedroom apartment

Pull out one of those fancy calculators and see how much money isn't going into your pockets.

Buy your wife a house!

Question? If you hit a few home runs trading, will you buy a house?

I am not understanding what you are getting at. 

Skans » 18 Dec 2023, 1:47 pm » wrote: ↑

18 Dec 2023, 1:47 pm

Is there any quantifiable model to the money you've made in Crypto?  Or, are you just betting that the demand for Bitcoin will go up over time?

As a somewhat simple example, If I buy and hold a stable dividend stock over the long term, I can actually determine what a good or reasonable price to pay for that stock would be based on 1) stability of past dividends and 2) past divided growth.  So, when the trend turns toward Big Tech, Big Banks, etc. and away from Dividend stocks, that's typically when I look to buy more.

What do you mean? It's quantified because it can be converted to the US dollar. In crypto land, they have USDT which is 1:1. So yes, it's all quantifiable. 

Yes. This is why crypto is just as corrupt as stocks. Crypto has 'whales.' To be considered a whale, you have to own a sizable amount of crypto coins that could move the crypto market if sold or bought. This means the the crypto market is controlled by them. It's the same concept in stocks. The whales in the stock market are the big companies that have the capital to manipulate stock prices. It's just as rigged. You just need to get on the right side of it. 

Vegas » 18 Dec 2023, 3:11 pm » wrote: ↑

18 Dec 2023, 3:11 pm

What do you mean? It's quantified because it can be converted to the US dollar. In crypto land, they have USDT which is 1:1. So yes, it's all quantifiable.

 

While it is convertible into USD, I believe that the value of Bitcoin wildly fluctuates to USD.  If not, then there would be no point in buying Bitcoin.  You are speculating that your bitcoin will be convertable to more USD down the road than what you paid for it, right?  That would not be a 1:1 conversion between USD and Bitcoin.

So, what I mean is what metrics are you using to predict the future valuation of Bitcoin to USD?
 

Skans » 18 Dec 2023, 3:17 pm » wrote: ↑

18 Dec 2023, 3:17 pm

While it is convertible into USD, I believe that the value of Bitcoin wildly fluctuates to USD.  If not, then there would be no point in buying Bitcoin.  You are speculating that your bitcoin will be convertable to more USD down the road than what you paid for it, right?  That would not be a 1:1 conversion between USD and Bitcoin.

So, what I mean is what metrics are you using to predict the future valuation of Bitcoin to USD?

I see what you mean. It is not wise to invest in BitCoin for long term payoffs. It's best for day trade or swing trading. It isn't meant to be looked at as stock portfolio, such as you would in your 401k. You don't want to invest in crypto and then pull it out when retirement comes decides later. It's good for short term spurts. I have made money. Is it gambling? Yes. No different. However, it is somewhat safer than gambling. In gambling, if you lose, then you lose. You don't get to wait for that money to grow back. It's done. In investing, you still have a chance of getting your money back. 

Vegas » 18 Dec 2023, 3:04 pm » wrote: ↑

18 Dec 2023, 3:04 pm

I am not understanding what you are getting at.

I was only trying to redirect your attention to something tangible and an excellent method for building wealth, a house.
You may be one of those people who don't want the hassle of home ownership. It's not for everyone.

I have 50,000 reasons to tell someone to bag the day trader short term trader fantasy. Just some friendly advice.

I hope you kill it, but being stubborn and fighting the odds can be painful.

Conclusion: Approximately 1–20% of day traders actually profit from their endeavors. Exceptionally few day traders ever generate returns that are even close to worthwhile. This means that between 80 and 99 percent of them fail.Dec 23, 2022

Buy your wife a house.

 

Fuelman » 18 Dec 2023, 4:51 pm » wrote: ↑

18 Dec 2023, 4:51 pm

I was only trying to redirect your attention to something tangible and an excellent method for building wealth, a house.
You may be one of those people who don't want the hassle of home ownership. It's not for everyone.

I have 50,000 reasons to tell someone to bag the day trader short term trader fantasy. Just some friendly advice.

I hope you kill it, but being stubborn and fighting the odds can be painful.

Conclusion: Approximately 1–20% of day traders actually profit from their endeavors. Exceptionally few day traders ever generate returns that are even close to worthwhile. This means that between 80 and 99 percent of them fail.Dec 23, 2022

Buy your wife a house.

Buying a house doesn't suit us. It's just not our style. We like to live simple. We like it that way. 

I think day trading crypto is different from day trading stocks. You are right, day trading stocks is not a good option. I tried it, and it just isn't a great idea. However, crypto is run differently. Yes, it is just as rigged, but the people who rig it tell you which way they are rigging it. So all you have to do is follow their instructions. I have been profiting. It's not even hard.