OT: The Avalounge but every time someone posts the quality declines

[henchman21]

Yeah, she’s been expecting your call for almost a week now mean, but you’re apparently too busy acting like Mr. Big Shot!! Who do you think you are!? (Mr. Big Shot...)

 

[RockLobster]

Well I nerfed that...

 

[The Shermanator]

@The Shermanator can you listen to this and tell me what it's like please

Oh man Ceremony I've never really given Frightened Rabbit an honest listen, but I know they've always been a band in the scene and have enjoyed what I've heard when I've listened. I was following the story closely in the few days leading up to it and was devastated to learn that Scott had passed. I know you were a huge fan so I hope you're doing alright. I listened to that earlier today. Wasn't familiar with the song but it sounds great. I've been listening to their split song Architect a lot since. So good. RIP Scott.

 

[Ceremony]

Oh man Ceremony I've never really given Frightened Rabbit an honest listen, but I know they've always been a band in the scene and have enjoyed what I've heard when I've listened. I was following the story closely in the few days leading up to it and was devastated to learn that Scott had passed. I know you were a huge fan so I hope you're doing alright. I listened to that earlier today. Wasn't familiar with the song but it sounds great. I've been listening to their split song Architect a lot since. So good. RIP Scott.

Thanks. I saw Mastersystem twice in a week at the end of April, they played a free in-store at a music shop here and I met him after it. I'm glad I did.

 

[Lonewolfe2015]

I'll never get over how I can go from 10:40am in Tokyo to 1:55pm in Philly.

The flip of that is going there sucks.

 

[Duchene2MacKinnon]

Anyone know anything about crypto currency? I know we have some investors who post here in @henchman24 and another who I haven't seen in awhile?

 

[Alex Jones]

Anyone know anything about crypto currency? I know we have some investors who post here in @henchman24 and another who I haven't seen in awhile?

Bitcoin/cryptocurrency seems like a horrible investment to me, but I guess some people win with it.

 

[Duchene2MacKinnon]

Bitcoin/cryptocurrency seems like a horrible investment to me, but I guess some people win with it.

From what I've learned in my young life is that the internet and the digital world always wins.

 

[Murzu]

Anyone know anything about crypto currency? I know we have some investors who post here in @henchman24 and another who I haven't seen in awhile?

What do you want to know? I know something, not much. I've invested few hundred euros to Tron.

 

[Duchene2MacKinnon]

What do you want to know? I know something, not much. I've invested few hundred euros to Tron.

The basics would be a good start... I mean I think I got down how it works after watching a couple of tutorial videos but not certain.

Anything would be greatly appreciated.

 

[Murzu]

The basics would be a good start... I mean I think I got down how it works after watching a couple of tutorial videos but not certain.

Anything would be greatly appreciated.

Well. Like I said I'm not expert by all means, just a guy that wanted to buy modern lottery tickets Also, I'm 100% sure that YouTube videos can tell more about the technology behind cryptos than I can. But I'll share some personal thoughts on investing to cryptos:

* A good reminder in the beginning is that cryptocurrencies are the most volatile investment I can quickly think of. The value of various coins can change tens of percentages in one day, up or down. The value of a coin or a token (yes, there are both of those, tokens are currency which require the companys own network/applications/whatever to be used) is often based on nothing but peoples belief on the value. Well, one could say the same about the value of dollar, it's based on belief that it's worth something.

* Personally I would not throw any money there which I'm not ready to lose, hence why I only have used couple of hundred of euros.

* Before investing into any specific crypto, I would look at the project they're trying to build. Every crypto has its own thing going on - Ripple has the kind of technology banks can use to make their transactions faster and cheaper, Tron is plainly said trying to build completely new internet etc. Look what they're doing, find something you could actually believe in. If it seems fishy, it could very well be. The people behind the project can tell you a lot - for example Stellar has a deal with IBM which I consider a very good thing for the trustworthiness of Stellar. Google is your friend here, there are scams out there.

* I have been doing my purchases at https://www.binance.com/. The reason is that I specifically wanted to buy Tron (even though the project is super ambitious, there is a good team behind there and the price of one token was so cheap that I thought there is a lot of room to grow.) The thing is, you cannot buy every coin or token everywhere. To get to use for example a site like Binance, you first have to register to a different site where you can buy Bitcoins, Ethereum or some other coin like that with dollars. Then you transfer those coins/tokens to a site like Binance. I used Coinbase - Buy/Sell Digital Currency to do this - registered there, bought Ethereum and transferred those to Binance. If you do this, there will be a lot of transferring fees.

* Don't just look at the price of a coin or token and think "it's so low that I could get 1000x profits if it works out!". I said that one of the reasons of buying Tron was the low purchase price of one token and I saw a lot of room to grow, but you have to think of the market as a whole. Lets use Tron as an example. It's currenly valued $0,07. If the value of one Tron would rocket to lets say $7, it would mean that the total value of the tokens would 100x. Total value of tokens is now ~$4 700 000 000. It would go up to ~$4 700 000 000 000. Total value of all the Bitcoins is currently ~ $141 000 000 000, so the total worth of Trons would be 33x more than Bitcoins, and that's not going to happen (at least not in many many many years if ever). It would also mean that there needs to be A LOT more money on crypto market for that to happen. So, just remember that the whole crypto market has to grow a lot to have new Bitcoins emerging.

* A quick note: coin and token values often follow Bitcoin. If it goes up, everything else goes up. If it melts, almost every coin and token loses a lot of value too. I personally think this will change a bit in the future as Bitcoins dominance has been fading little by little (even though almost 40% of total market value is by Bitcoin).

* Do not panic. Like I said, cryptos are very volatile but the same principles apply here than in other investments like stock market, for example it's not often wise to sell when the value of the investment is very low etc.

* Many people trade their cryptos every now and then, I personally do not. It's up to everyone to decide what to do. There is a possibility to trade your investments into a crypto called Tether which is valued the same as USD. When the market melts every now and then (and really, the changes can be drastic) and you have a reason to believe the melting won't stop quickly, you can just trade your cryptos to Tether which won't change its value. When the meltdown is close to over or over, just trade your Tethers to other cryptos again. My big bro does this and if I had more knowledge I would do this too.

* A good website to track how to market is doing is Cryptocurrency Market Capitalizations | CoinMarketCap. You can see all the cryptos there (currently there are almost 1600 different ones). You can check how the crypto has done in the past, how it's doing now, what's the total market cap of the crypto world, how it has changed. A lot of useful and interesting stuff there.

* Along with scams, there are hackers out there. For example, if you're using Binance to invest, your investments are on that website, not a very safe place to keep them. It's not likely that a website like Binance gets hacked but it's possible. There are things called wallets where you can transfer your investments but I'm not an expert on those. Transferring your investments to a wallet makes it a lot more hack proof though. If you're afraid of potential hacker, search more info about wallets. Every crypto cannot be stored into one though.

I'm sure I forgot something that I was supposed to write down but I'll add it later on. You can ask me if something is not clear or anything.

Now some cool videos after so much text. Bitconnect was a huge scam (check out it's value from Coinmarketcap ) and Dogecoin is... well.. something else

 

[agentblack]

* Personally I would not throw any money there which I'm not ready to lose


.

I really like this simple piece of advice.

 

[Bonzai12]

agree with the sentiment here.

I trade stocks, options, and futures. I don’t put as much attention into it lately as I have in the past. When I was really into it in 2014-ish I made about a 50% return that year. I haven’t traded full-on since that year but I learned a lot and still apply those strategies to a smaller account today. Here’s the things I learned -

1) you’re going to lose money for the first 6 months if you’re really good or pretty good. If you’re not grasping well it then it could be 1-2 yrs. You don’t know what you’re doing yet (and I can tell because you’re posting on a hockey forum getting advice from complete strangers about how to manage your money). No offense - it’s how we all start. I did some of the same things so we’ve all been there. My only lesson learned on this is trade with paper money until you have confidence. You’re not ready to put real money on the line if you’re asking how to trade in a forum. Don’t go into this immediately with your real money. I would have had much higher gains if I wasn’t trying to recoup my losses in losses in my first eight months of trading. I pissed away a lot because I was all excited and was naive and thought I’d just “figure it out”. You should be able to stay positive with paper money for at least 3 months before going in. I can’t highlight this piece of advice enough. For some people, they go full bore into trading and 2 months into it they’ve drained their account and don’t like it anymore (obviously). Don’t be one of those people if you’re actually serious about this.

- Don’t try to hit homeruns. In the trading game you’re trying to hit 40 singles vs 2 homeruns. If you’re going into trading with the goal of 15+% gains in short time periods, then you’re gambling. You might as well just save all your time and effort in education and go to Vegas and play red/black. It’d save you a lot of time, expense and energy. On most of my trades I’m targeting a 5-15% return. A 15% return for me (in the time periods I’m trading) is like hitting the lottery.

- Be consistent in your strategies and what you trade. I trade a limited number of tickers and industries so I can always keep up with them and learn their tendencies. It really doesn’t matter what you trade as long as it’s liquid. I try to stick with high volume etfs and stocks where bid/ask spreads aren’t so wide and actually make sense. If you’re all over the board though with what you invest in, then it’s really hard to keep track of the technical indicators for each investment vehicle you’re in. I stick almost entirely to the S&P 500 mostly because I do the bulk of my trading in options. If I was doing trading full time I’d definitely love to venture into foreign indicies and futures that don’t crater every time the US economy sinks.

- You should be well versed on how investments are priced both fundamentally and by technical indicators. There’s plenty of books out there on these subjects but both methods determine price movements.

- I self taught myself a lot of this via books and podcasts. Books were useful to learn the X’s and O’s And podcasts were helpful to learn modern strategies and general news/insights into stocks. Looking back I would always still take the double headed approach of books/podcasts.

Anyways hope that helps.

 

[Duchene2MacKinnon]

Thanks to both @Murzu and @Bonzai12. Much appreciated will watch the videos in a bit but thanks again.

 

[Murzu]

Thanks to both @Murzu and @Bonzai12. Much appreciated will watch the videos in a bit but thanks again.

My videos are 100% humor purpose.

But no problem. Glad if there was anything useful there.

Edit. @Bonzai12 have you touched cryptos at all?

 

[Duchene2MacKinnon]

My videos are 100% humor purpose.

But no problem. Glad if there was anything useful there.

LOL

 

[Foppberg]

~8 months ago I was tempted to put in like 100 bucks into Bitcoin, figured it could be worth the gamble for a bit I of extra cash. Not now though.

 

[hockeyfish]

Crypto isn't investing, it's gambling. Keep that in mind.

 

[Murzu]

Crypto isn't investing, it's gambling. Keep that in mind.

Radical view which I understand but I somewhat disagree with.

It's very risky though.

 

[Bubba Thudd]

I f***ing hate people.

 

[hockeyfish]

I ****ing hate people.

You hate me, why?

 

[Bubba Thudd]

You hate me, why?

OK, I should just shut my face, but I won't, cuz I'm in a foul mood...

"People" are someone that I've met in real life.
And 99.9% of those "people" suck.
(probably more than 99.9%, if I really did the math...)
The only friends I have are internet accounts that I've never met.
Most of them are OK. You're OK.

My f***ing "circle of friends" is all digital. BANG!

 

[Bonzai12]

My videos are 100% humor purpose.

But no problem. Glad if there was anything useful there.

Edit. @Bonzai12 have you touched cryptos at all?

Nope - I did consider putting some money into it, but I felt like there's too many variables for me still to be determined - regulators definitely have their eyes on it (i.e. IRS etc.) and there seems to be a lot of investment in the cryptos from corrupt/dictatorship-led countries. Those are some red flags for me - too many red flags. I'm not a big fan of unknowns, and to be honest I'm a sideways trader (i.e. I try to profit off ETF/Stocks/Commodities that stay near the same price in short-mid term). Crypto's volatility and crazy price movements aren't my thing.

 

[hockeyfish]

OK, I should just shut my face, but I won't, cuz I'm in a foul mood...

"People" are someone that I've met in real life.
And 99.9% of those "people" suck.
(probably more than 99.9%, if I really did the math...)
The only friends I have are internet accounts that I've never met.
Most of them are OK. You're OK.

My ****ing "circle of friends" is all digital. BANG!

All I can say is sorry to hear that. I'm sure things will get better.

 

[Tweaky]

Bubba....you aren't the only one.