What stocks are you buying now? Part 30

[ZDH]

Oh what happened? Glad I didn’t put more lol

Their CEOs history is really rough.

 

[Dueling Banjos]

Doubled my Cardano bag

Good opportunity for sure.

 

[Primary Assist]

I'm going to cut my ETH holding in half and convert it to ADA. The 18-24 month lockup period for staking is just too cumbersome, especially once Ethereum 2.0 rolls out and the system switches from Proof of Work to Proof of Stake. That lockup period, along with insane gas fees, indicates that ETH is better seen as a store of value, like a poor man's Bitcoin, than it is as a cryptocurrency or vessel for decentralized finance. At least for the time being.

ETH's price cratering this past week has led me to believe that its current price is really just more reflective of Bitcoin's price than it is in the ETH network's underlying value. ADA seems to be more accurately priced based on the Cardano network itself, along with some exuberance for the impending Coinbase listing.

 

[ZDH]

What a nice day for a hard fork, birds everywhere this morning

 

[BreadManPanarin]

The value was destroyed by the renegotiation and delay.

In the long run this stock will be pretty strong

I agree their stock will be strong long term if they can scale and survive the first 5 or so years. The automotive industry is traditionally one of the hardest and most expensive industries to break into, and Tesla is the only successful auto startup in USA in the past 50-75 years. In China, Nio (who is generally touted as an EV startup success story) was about to go bankrupt before the Chinese government bailed them out last year. Lucid faces long odds, but the shift to electric should help their chances as they won't face as large of barriers to entry as Tesla did. Their biggest struggles will likely be battery availability and investors being willing to eat enough losses and keep investing enough money to survive until finally making a profit. Tesla lost billions upon billions of dollars before finally turning a profit. It is a non-trivial thing to achieve, to put it mildly. It won't happen quickly or easily for Lucid, but the world needs as many electric auto manufacturers as possible, so I wish them all success.

 

[SouthGeorge]

PSTH what I'm thinking since his tweets. Kind of rules out all the food options. I don't think it's Stripe or bust either.

1) Stripe. Has the most connections obviously.

2) Bloomberg or Fidelity.

3) Plaid. Doesn't seem big enough so maybe Plaid + option 2.

4) Starlink. I don't why Elon would and PSTH 2 would seem more on track if he's teaming up with BA.

 

[BreadManPanarin]

PSTH what I'm thinking since his tweets. Kind of rules out all the food options. I don't think it's Stripe or bust either.

1) Stripe. Has the most connections obviously.

2) Bloomberg or Fidelity.

3) Plaid. Doesn't seem big enough so maybe Plaid + option 2.

4) Starlink. I don't why Elon would and PSTH 2 would seem more on track if he's teaming up with BA.

When Starlink goes public it will be via IPO after they have achieved consistent revenue streams and profitability. They won't go public in the near future, and when they do it likely won't be via SPAC.

 

[SouthGeorge]

When Starlink goes public it will be via IPO after they have achieved consistent revenue streams and profitability. They won't go public in the near future, and when they do it likely won't be via SPAC.

That's what I think too. But people have been speculating Starlink for PSTH for a long time. Starlink is starting to roll out now. Then BA tweets "We have the technology" Which could be a reference to 6 million dollar man intro. Elon did say when Starlink goes public he wants the little guy to be able to get in. So I wouldn't rule out a SPAC. I just think one of the richest men would have his own but could you do that? You also need a team who specializes in it. Maybe BA does have a chance but it would be PSTH 2 imo.

 

[BreadManPanarin]

Federal Reserve Bank President James Bullard Confident Bitcoin Not a Threat to US Dollar – Regulation Bitcoin News

First they ignore us, then they laugh at us, then they fight us, then we win.

Good to see that they are still in the laughing phase. Bullish.

Edit: Funny, CitiGroup and Michael Saylor were thinking the same thing as me this morning. lol



The report, entitled “Bitcoin: At the Tipping Point”, charts the evolution of bitcoin from a form of payment to its current status as a store of value. The authors forecast that bitcoin’s core properties combined with its global reach and neutrality could see it morph into the “currency of choice” for international trade in around seven years.

It is difficult to overstate how much the price would go up from today's levels if this were the case.

 

[The Podium]

Lots of green today early

 

[The Crypto Guy]

Ah the smell of green again, including DKNG hitting ATH, good way to start the week.

 

[Primary Assist]

First they ignore us, then they laugh at us, then they fight us, then we win.

Good to see that they are still in the laughing phase. Bullish.

In case you'd like to read more to erase any of this FUD, here's a great article from last week that really articulates why the fear of regulation is largely unfounded, even with the statements coming from the US Treasury Department:

Can Governments Stop Bitcoin?

And if you'd like it read to you by one of the absolute best podcast hosts in the crypto world, then look no further:

Governments Couldn’t Ban Bitcoin Even if They Wanted - CoinDesk

And in equities news (kind of) there's rumblings that WSB may be leaving reddit. That would be one toxic community separating from another toxic network, but I wonder what type of impact it would have. I can't see how it would be much different than another stocktwits or similar site, but it's clear that WSB has managed to capture lightning in a bottle before so I wouldn't bet against them.

 

[The Podium]

In case you'd like to read more to erase any of this FUD, here's a great article from last week that really articulates why the fear of regulation is largely unfounded, even with the statements coming from the US Treasury Department:

Can Governments Stop Bitcoin?

And if you'd like it read to you by one of the absolute best podcast hosts in the crypto world, then look no further:

Governments Couldn’t Ban Bitcoin Even if They Wanted - CoinDesk

And in equities news (kind of) there's rumblings that WSB may be leaving reddit. That would be one toxic community separating from another toxic network, but I wonder what type of impact it would have. I can't see how it would be much different than another stocktwits or similar site, but it's clear that WSB has managed to capture lightning in a bottle before so I wouldn't bet against them.

I wonder how long the uneducated WSB followers hold on. A lot of people lost a lot of money because of them. WSB sold the idea of a community driving up the price and everyone should buy in on the momentum, but only the smart ones realized it was never going to 1000. Those who held too long, or bought in late, got screwed.

 

[Primary Assist]

I wonder how long the uneducated WSB followers hold on. A lot of people lost a lot of money because of them. WSB sold the idea of a community driving up the price and everyone should buy in on the momentum, but only the smart ones realized it was never going to 1000. Those who held too long, or bought in late, got screwed.

Great question. I really want to know, as a community, if WSB came out ahead or behind from the whole $GME saga. Obviously whales like DFV made millions on paper, but I'd imagine that the average WSB user lost out. I also wouldn't be surprised if there were bots in the subreddit making a lot of those inane "diamond hands" posts to further spur retail interest so that savvy investors could make their exit at the right time. WSB was convinced that they were battling Wall Street and "the man," but huge asset managers like Blackrock were the real winners of the whole ordeal. It was yet another instance of money flowing from uneducated pockets into the hands of professional investors.

 

[BreadManPanarin]

I wonder how long the uneducated WSB followers hold on. A lot of people lost a lot of money because of them. WSB sold the idea of a community driving up the price and everyone should buy in on the momentum, but only the smart ones realized it was never going to 1000. Those who held too long, or bought in late, got screwed.

In fairness, the DD was good and it probably was going to $1000+ if Robinhood et al hadn't pulled the plug on the buying. The shorts were beyond screwed, as the number of short shares needing to cover was significantly more than the number of shares in existence, much less the number of shares that people were willing to sell for reasonable prices.

 

[ItsFineImFine]

The report, entitled “Bitcoin: At the Tipping Point”, charts the evolution of bitcoin from a form of payment to its current status as a store of value. The authors forecast that bitcoin’s core properties combined with its global reach and neutrality could see it morph into the “currency of choice” for international trade in around seven years.

It is difficult to overstate how much the price would go up from today's levels if this were the case.

I'm conflicted, I on one hand wanna buy a bit more than the small amount I got from the new ETF but I'm also not on board and don't trust this BTCC ETF and can't be bothered with buying BTC from an exchange especially if it isn't TFSA covered.

 

[BreadManPanarin]

The report, entitled “Bitcoin: At the Tipping Point”, charts the evolution of bitcoin from a form of payment to its current status as a store of value. The authors forecast that bitcoin’s core properties combined with its global reach and neutrality could see it morph into the “currency of choice” for international trade in around seven years.

It is difficult to overstate how much the price would go up from today's levels if this were the case.

Fidelity jumping on board today too. This is gonna get truly wild over the next year or so.

I finally got around to setting up a Self Directed Roth IRA to allow me to hold tax advantaged Bitcoin in my cold storage wallet, but alas I was too late. Funds aren't moved yet and I missed the dip.

I'm conflicted, I on one hand wanna buy a bit more than the small amount I got from the new ETF but I'm also not on board and don't trust this BTCC ETF and can't be bothered with buying BTC from an exchange especially if it isn't TFSA covered.

I've said it before and I'll say it again. At this point I think it is more risky NOT to have a 1-5% position in Bitcoin than it is to do so. It is now part of a balanced portfolio like Cap'n Crunch is part of a balanced breakfast. lol

 

[SouthGeorge]

In fairness, the DD was good and it probably was going to $1000+ if Robinhood et al hadn't pulled the plug on the buying.

I forgot seeing having Chamath, Elon, and going viral in the DD. Squeeze would have sent it to like $100-200 tops. $1000+ was only in play because of that other stuff which is also the reason why Robinhood had to pull the plug. Right now is where it would have been imo.

 

[BreadManPanarin]

I forgot seeing having Chamath, Elon, and going viral in the DD. Squeeze would have sent it to like $100-200 tops. $1000+ was only in play because of that other stuff which is also the reason why Robinhood had to pull the plug. Right now is where it would have been imo.

You clearly don't understand the mechanics of a short squeeze, so I won't argue it with you. It doesn't really matter at this point anyways.

Read about the famous VW short squeeze if you want to understand better.

 

[Primary Assist]

I forgot seeing having Chamath, Elon, and going viral in the DD. Squeeze would have sent it to like $100-200 tops. $1000+ was only in play because of that other stuff which is also the reason why Robinhood had to pull the plug. Right now is where it would have been imo.

It hit nearly $350 the day before Robinhood froze buying, and it looked like it was going to increase at an exponential rate, so $1,000+ really wasn't out of the question. The DD was really good when operating under fair market assumptions, but nobody could have predicted that the rules would suddenly be broken.

 

[SouthGeorge]

It hit nearly $350 the day before Robinhood froze buying, and it looked like it was going to increase at an exponential rate, so $1,000+ really wasn't out of the question. The DD was really good when operating under fair market assumptions, but nobody could have predicted that the rules would suddenly be broken.

The price shot up because of Elon in the first place.

 

[TheDoldrums]

Massive reversal on Bitcoin, what a bounce from $42k to $49k. Things were looking dicey if buying pressure didn't materialize but it sure did. Might be wrong but I think we might move up relatively quickly now.

I need to stay somewhat liquid since we're literally looking at houses right now, but I couldn't help putting $30k of my recent profit taking back into it at $47k when the trends clearly reversed.

 

[TheTechNoir]

Lots of green today early

Yeah. Long way to go today, but I'm sitting around + 3.1% today. If I figure I finished last week roughly -6%, I'm ~3% off from catching back up.

Unfortunately I had no cash (none that I wasn't building recently in my bank account for genuine cash savings reasons) to buy any dips. That's okay, though. In an ideal world I would have a big enough income. But as it is, I think I was better off going pretty much no cash for most of 2020. I think in the long-run I grew my money more that way, than if I would have invested less, earlier, so I could buy dips. None of my holds really worth any money traced back to more than pre-start of Feb levels anyway, I don't think.

 

[BreadManPanarin]

The price shot up because of Elon in the first place.

As with CCIV, you simply don't know what you're talking about with regard to Elon, TSLA fans, etc. You aren't adding any value with these bizarre takes. Please try to do better.

 

[Jason MacIsaac]

Finally!