OT: Lets talk about stocks (Part 2)

[Grate n Colorful Oz]

Well, isn't that the same as the .com boom then? You had a bunch of sites that were never going anywhere but people invested in it. Isn't that exactly what's happening here with some of these cryptos that will never go anywhere?

Again, I'm not sure what's going to make one crypto better than another. And a guy like Musk can come in and manipulate things as well... Just seems super shady.

The dot com boom is more like the tech boom or any other in the stock market. Crypto is very different from all the other booms because it serves a mechanical purpose to electronic trades, one which is advantageous compared to the hurdle track of passing through financial institutions. It's not an industry or commerce, it's a financial tool.

Seriously, A-N-Y-T-H-I-N-G that has future growth written all over it, will get a boom. It's just the nature of speculation.

I think that most of the more serious crypto developers of today will all become bigger with time because it's based on an ever growing use. Because of that it's entirely different from the dot com boom.

Crypto is more akin to what happened to the bond market over the last two generations.

And that's not a boom and bust. It's bullish through half your life.

 

[Lafleurs Guy]

The dot com boom is more like the tech boom or any other in the stock market. Crypto is very different from all the other booms because it serves a mechanical purpose to electronic trades, one which is advantageous compared to the hurdle track of passing through financial institutions. It's not an industry or commerce, it's a financial tool.

Seriously, A-N-Y-T-H-I-N-G that has future growth written all over it, will get a boom. It's just the nature of speculation.

I think that most of the more serious crypto developers of today will all become bigger with time because it's based on an ever growing use. Because of that it's entirely different from the dot com boom.

Okay, but with all of these cryptos popping up... which ones will be the winners and which ones will be losers? And if a guy like Musk can just torpedo your fund with a tweet what's really behind it to help prop it up?

Again, I'm not saying they will all be worthless and crypto won't be around in ten years. I'm just saying that there are a lot of similarities here in that you'll get folks throwing money into stuff that will never go anywhere.

I get that you can make a fortune here. But you can lose a fortune pretty easily too.

 

[Grate n Colorful Oz]

Okay, but with all of these cryptos popping up... which ones will be the winners and which ones will be losers? And if a guy like Musk can just torpedo your fund with a tweet what's really behind it to help prop it up?

Again, I'm not saying they will all be worthless and crypto won't be around in ten years. I'm just saying that there are a lot of similarities here in that you'll get folks throwing money into stuff that will never go anywhere.

I get that you can make a fortune here. But you can lose a fortune pretty easily too.

Depends on what you do and how you invest and your aim. It's like anything else, if you put in the work (research, analysis) you'll gain a lot more than you lose. Thing is, mini boom and bust cycles are a plenty and much quicker than on the stock market. It goes up and diwn A LOT quicker, because it's directly related to the volumes of trades, so there's real opportunity for anyone with a bit of flair.

As for the Musk comment, you're precluding it's dropping entirely because of him, which I disagree, while it's also something that can happen in the stock market just as much.

 

[LyricalLyricist]

Most people misconstrue crypto because they don't understand it. Most people think the prices are solely ballooned by speculation.

After researching the subject, I can tell you whether BTC goes down, cryptos are here to stay. It's gonna be a generational bullish market.

Here's what most people don't get: the speculation is fueled by rising volumes of trades. And those volumes of trades (trades that use crypto as a currency, not the simple buying and selling of coins) are related to which markets they are used for.

Saying there's nothing behind it is you filling the gaps because you don't understand what's behind it. In layman's term, it was created to democratize money exchange and to eliminate 3rd party parasites that take cuts on trades. Those cuts end-up in the crypto instead.

Is there data regarding the rising volume of trades that use crypto as a currency and not the investor aspect?

I would be shocked if the growth in usage is equal to or higher than the growth in price.

 

[Grate n Colorful Oz]

Is there data regarding the rising volume of trades that use crypto as a currency and not the investor aspect?

I would be shocked if the growth in usage is equal to or higher than the growth in price.

An entire market can't rise just by speculation. There most be a driving force that initiates interest. In the case of the leading cryptos, the initial starting point is use.

 

[the paisanos guy]

An entire market can't rise just by speculation. There most be a driving force that initiates interest. In the case of the leading cryptos, the initial starting point is use.

99% of people buying it are doing so in hopes of it going up in value so they can cash out later, and that positive speculative feedback loop absolutely can rise the entire market. Only a small fraction of people are holding it because a decentralized currency is their libertarian wet-dream. I promise you, very few people actually want a decentralized currency, and most of those who have suddenly convinced themselves they do have dollar-signs in their eyes and probably don't realize just how much they take a centralized currency for granted.

 

[Habs]

well i think BTC is on its way down... going to take some profit in ADA and a few other things tonight, get back into staking for another couple months. Man Elon really f***ed crypto up

 

[Scintillating10]

Looks like over for Bitcoin. Chinese banned it now. Buffett was right all along

 

[Grate n Colorful Oz]

99% of people buying it are doing so in hopes of it going up in value so they can cash out later, and that positive speculative feedback loop absolutely can rise the entire market. Only a small fraction of people are holding it because a decentralized currency is their libertarian wet-dream. I promise you, very few people actually want a decentralized currency, and most of those who have suddenly convinced themselves they do have dollar-signs in their eyes and probably don't realize just how much they take a centralized currency for granted.

It's always nice when someone argues by taking numbers out of their ass. It doesn't stop it from being USED more and more, which makes your 99% ridiculous. Your whole argument about "decentralized wetdream" is a red herring. People and businesses adopt it (F-O-R U-S-E) because it's the future of online transactions.

@LyricalLyricist

You wanted numbers on sales:

The Rise Of Crypto As Payment Currency

Bitcoin Usage Among Merchants Is Up, According to Data From Coinbase and BitPay - CoinDesk

 

[BehindTheTimes]

And what stops another currency from being preferred in that time frame? Nothing I suppose.

That’s why I stay away from this. I don’t understand the economics of it enough.

Btc is meant as a store of value. It will never be a currency IMO. If you are waiting for that to happen it will be way too late. I’m just dcaing, yes I’m buying more.

 

[BehindTheTimes]

Bitcoin reminds me of the .com boom. Nothing behind it, just faith that people would buy it because it was a .com.

A lot of people got rich from it because they knew when to get out. We'll see with crypto. Maybe it's the real deal but there's nothing behind it. And all it takes is a guy like Musk to say he's going to accept this one but not that one to tank one of them. There's really nothing solid guaranteeing value here.

This selloff has very little to do with Elon IMO. I think someone has been margin called and they have been forced to liquidate.

 

[DAChampion]

well i think BTC is on its way down... going to take some profit in ADA and a few other things tonight, get back into staking for another couple months. Man Elon really f***ed crypto up

It's not Elon Musk so much as it's his army of worshippers.

 

[BehindTheTimes]

It's not Elon Musk so much as it's his army of worshippers.

I think there is way more to this than Elon’s tweet. It likely came at exactly the wrong time and sped up the dip, but this isn’t Elon. If this shows little resistance at 32k usd I’ll be a bit concerned, but until then, I am not concerned. This gives the opportunity to get more little guys in. I’m all for it, might take 8 weeks to recover IMO. We shall see.

 

[Grate n Colorful Oz]

This selloff has very little to do with Elon IMO. I think someone has been margin called and they have been forced to liquidate.

The chinese booting out BTC servers and their financial blockade is also part of it.

 

[Mrb1p]

Time to get the check book and stack up. This is beautiful.

 

[Grate n Colorful Oz]

Time to get the check book and stack up. This is beautiful.

Got a scare when OMi went up yesterday, but it's all fine now. Hadn't had time to buy some yet. It's been in a downward decline for a while so I was waiting still.

 

[McGees]

Better off putting your money under your mattress these days.

 

[llamateizer]

Got a scare when OMi went up yesterday, but it's all fine now. Hadn't had time to buy some yet. It's been in a downward decline for a while so I was waiting still.

sold some at 0.0049 (10%)

but what I did after that is horrible in crypto.
managed to re-enter at 0.003 this morning


last 12 hours is a series of bad decisions and it keeps going on.

 

[llamateizer]

If you want to laugh

sold OMI at 0.0049 (good move)
- bought BNB with it at 470
- wanted to sell some ADA at 1.60 this morning, but didn't
- sold ADA at 1.04. WORST MOVE EVAR
- bought small BTC at 33.6k
- sold BTC at 33.9K
- bought OMI at 0.0030
- put order BTCC at 6.25 (it was 6.33). now it's 6.75

 

[Habs]

Time to get the check book and stack up. This is beautiful.

I haven't sold any of my OMI , I'll grab more.

Sold a few things, and bought another 50 CAKE, just staking it anyways.. my little stash keeps growing.

 

[Habs]

If you want to laugh

sold OMI at 0.0049 (good move)
- bought BNB with it at 470
- wanted to sell some ADA at 1.60 this morning, but didn't
- sold ADA at 1.04. WORST MOVE EVAR
- bought small BTC at 33.6k
- sold BTC at 33.9K
- bought OMI at 0.0030
- put order BTCC at 6.25 (it was 6.33). now it's 6.75

It's all good, that's how we learn. Even the big retail investors take a punch in the balls more often than not. Cathy Wood bought Coinbase at like 350$, TESA @ 680. If you like a project, just hold it and don't worry about the prices right now.

Great discounts on my favorite coins too, BNB, XRP.. DOT!

 

[llamateizer]

It's all good, that's how we learn. Even the big retail investors take a punch in the balls more often than not. Cathy Wood bought Coinbase at like 350$, TESA @ 680. If you like a project, just hold it and don't worry about the prices right now.

Great discounts on my favorite coins too, BNB, XRP.. DOT!

Yeah lessons learned . playing with small amounts is a good practice.

HODL is pretty much the best way to invest in BTC.


I really like CAKE. missing liquidity

 

[Grate n Colorful Oz]

sold some at 0.0049 (10%)

but what I did after that is horrible in crypto.
managed to re-enter at 0.003 this morning


last 12 hours is a series of bad decisions and it keeps going on.

Bought some Polygon when it was still named Matic a few weeks ago, and oh boy was I glad in the last week and then I wake-up this morning and almost half the ground I had gained was lost. Relief, it's going back up now.

 

[japhi]

Thanks for your input.

I have taken some money from my HELOC to invest in my dividends stocks (around 8%) .
already 10% unrealized gains + free monthly cash flow.

Time to think for a stop loss strategy.
Won't protect against crashes outside 9:30-16:00


It's been 1 year i'm in the stock market.
I have decent gains but unrealized. So a crash would reset my gains like what happened with T today

How long is your horizon? If more then 5 years, I wouldn't worry at all. Market goes up, market goes down. Try to time it? You will lose every time.

Smart money buys quality companies (or better for most, a market based ETF), makes regular contributions, and ignores the ups and downs.

 

[llamateizer]

How long is your horizon? If more then 5 years, I wouldn't worry at all. Market goes up, market goes down. Try to time it? You will lose every time.

Smart money buys quality companies (or better for most, a market based ETF), makes regular contributions, and ignores the ups and downs.

My HELOC is mid term horizon. Increase my cashflow in TFSA, refund my HELOC on the side.
I took some small risks with split corp and covered calls.
with a market crash, they'd stop giving dividends.

I have 60% in "safe" money. job matching RRSP, dividends stocks
20% in crypto. higher than my initial plan as I bought the dip for a while


I can't afford (I can, but not desirable) crypto crash and HELOC investment crash. on the other hand, my divorce would be cheaper