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rgio

rgio Avatar

Location: West Jersey
Gender: Male


Posted: May 8, 2021 - 8:34am

 kurtster wrote:

Longer term could be cash out the initial at 100% and let the proceeds ride, which would be the smart thing to do.  But then I only get half of the gain going forward. 


No...it's ALL gain...since it was free.  Risk/reward strikes again!

C'mon Playa...go big or go home!!!

kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: May 7, 2021 - 11:04pm

 black321 wrote:

pretty much goes for anyone who invested in the S&P 500 too.



Yeah, IIRC it wasn't all that long ago when Soros was big time shorting the S&P 500.  And he ended up on the wrong side of that, but who know's how that worked out in reality ...

But a now 65% bump in 3 weeks is rather earth shaking to a little guy like me.  And it seems likely to hold as things have flattened out with a new higher bottom.  This observation only applies to the two crypto's I've kept.  Ethereum and Bitcoin Cash of the 4 choices available in Pay Pal.  They also seem to compliment each other with similar curves / %'s / trends.   PP is just a couple of mouse clicks in real time, 24 / 7. They will even keep track of your gains or losses when withdrawing.  Just get the 1099 at the end of the year.

Again, I'm only doing this because PP laid this opportunity in my lap.  I'm not going to go through the angst of watching stocks and jumping through hoops to buy or sell.  I'm just looking at percentages and trends.  Anything in the news is easily discovered watching the morning business news for things like Central Bank decisions.  Those seem to have more of a negative affect than anything else.   And watch for the plateaus and their duration.  This is what I have learned to do after watching Bitcoin over time.

Longer term could be cash out the initial at 100% and let the proceeds ride, which would be the smart thing to do.  But then I only get half of the gain going forward. 

black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: May 7, 2021 - 10:40am

 kurtster wrote:



just searched that.

yeah.  my jaw is kinda on the floor right now.

whatever thoughts I had going in are kinda out the window.

i've always said that tough choices are better than no choices ...

pretty much goes for anyone who invested in the S&P 500 too.

westslope

westslope Avatar

Location: BC sage brush steppe


Posted: May 7, 2021 - 10:24am



Bitcoin investing 'feels like a bubble': Prolific Mining financier Frank Giustra


As someone who helped build what later became Goldcorp, Frank Giustra says bitcoin is more like a tech stock than gold. He also talks about the future of energy, having served as a strategic adviser for DeepGreen Metals for a number of years. The company is set to merge with the Sustainable Opportunities Acquisition Corporation (NYSE: SOAC) and become public in June 2021 as The Metals Company.

———————————————-

kurtster:  You might enjoy this more reasoned, analytical approach to Bitcoin and similar.   Giustra — well known in Canadian resource investment circles — does not mention the huge energy demand of blockchain technology.

kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: May 5, 2021 - 4:07pm

 black321 wrote:
"As someone who made money off GameStop, Dogecoin and a lottery ticket this year, the best financial advice I can give you is to just be a f#$king idiot."






just searched that.

yeah.  my jaw is kinda on the floor right now.

whatever thoughts I had going in are kinda out the window.

i've always said that tough choices are better than no choices ...
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: May 5, 2021 - 12:38pm

"As someone who made money off GameStop, Dogecoin and a lottery ticket this year, the best financial advice I can give you is to just be a f#$king idiot."



westslope

westslope Avatar

Location: BC sage brush steppe


Posted: May 5, 2021 - 8:21am

 kurtster wrote:

Now Bitcoin cash seems to be making a strong move.

  





You buy the beer bud!
kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: May 5, 2021 - 5:23am

Now Bitcoin cash seems to be making a strong move.

  


kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: May 4, 2021 - 4:44pm

 westslope wrote:

Guys, please keep posting and discussing crypto currencies.  The subject is very interesting.  I would invest/trade if my cajones were bigger.

In the meantime, here is an article that might be of interest.


CBDC technology: interest intensifies in digital currency ‘innovation catalysts’

Prof. Alistair Milne appears to nail it:

Blockchain-based solutions, he said, bring a risk of generating “distractions”, whereas centralised ledgers can “deliver everything”, for example user experience and security, “pretty much just as well”.

This is a new area for me but am guessing that CBDC has the promise to reduce transaction and friction costs for digital payments.



An interesting read.  Lot's to think about.  Privacy being one.  And then the question raised earlier about an EMP or solar event.  

Guaranteed access.  Your account / wallet could effectively be turned off by your government should it want to and the resulting hardship would be devastating.

Then there is the old M*A*S*H episode were it was time to turn in the blue currency for the red currency.
westslope

westslope Avatar

Location: BC sage brush steppe


Posted: May 4, 2021 - 3:33pm

Guys, please keep posting and discussing crypto currencies.  The subject is very interesting.  I would invest/trade if my cajones were bigger.

In the meantime, here is an article that might be of interest.


CBDC technology: interest intensifies in digital currency ‘innovation catalysts’

Prof. Alistair Milne appears to nail it:

Blockchain-based solutions, he said, bring a risk of generating “distractions”, whereas centralised ledgers can “deliver everything”, for example user experience and security, “pretty much just as well”.

This is a new area for me but am guessing that CBDC has the promise to reduce transaction and friction costs for digital payments.
westslope

westslope Avatar

Location: BC sage brush steppe


Posted: May 4, 2021 - 9:09am

 islander wrote:


Kurtster is actually right here. Currency has value because we agree it does. Your bills with an extra zero are worth 10X what mine are because we agree on it.  Blockchain has a lot of value and many other applications, but bitcoin has a value because we all say it does.

It's far from the ground floor, and as with many other investments - once you hear about it, it's probably too late. 

Blockchain has value because the system can freeride off of somebody else's energy input.  Think of it as legal theft.

Bitcoin has value because SOME people agree it has value.

Fiat currency has value because almost all people agree it has value and because it has relatively autonomous central banks with massive financial power to ensure that it keeps its value.

steeler

steeler Avatar

Location: Perched on the precipice of the cauldron of truth


Posted: May 4, 2021 - 9:08am

 kurtster wrote:

Most importantly, we have the RRHOF.  It's even better if you're a Raider fan.  You can also find a large group of Steeler haters, albeit for different reasons but it is a shared misery at their hands that is  always looking for company ...  The Immaculate Reception ...


That explains a lot — you’re living in a toxic, delusional environment!

I was there, in Three Rivers, for the Immaculate Reception. My claim to fame!

kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: May 4, 2021 - 8:58am

 Steely_D wrote:


Grabbed a little Ethereum last night. If it goes bust I’m coming to live in your backyard.


I hope it doesn't tank.  But if it does we have a rather large and growing California expat community here.  And the available healthcare is pretty good, too.

Most importantly, we have the RRHOF.  It's even better if you're a Raider fan.  You can also find a large group of Steeler haters, albeit for different reasons but it is a shared misery at their hands that is  always looking for company ...  The Immaculate Reception ...
Steely_D

Steely_D Avatar

Location: Biscayne Bay
Gender: Male


Posted: May 4, 2021 - 8:20am

 kurtster wrote:

So with an update from 12 days ago since I did my readjustment to holding only Ethereum and Bitcoin cash, I'm up roughly 45% with the bulk of the increase being in Ethereum.  Going to let it ride and see what happens.  Might put some more in Ethereum in a dollar cost averaging scenario, but not sure at this point.



Grabbed a little Ethereum last night. If it goes bust I’m coming to live in your backyard.
kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: May 4, 2021 - 6:02am

So with an update from 12 days ago since I did my readjustment to holding only Ethereum and Bitcoin cash, I'm up roughly 45% with the bulk of the increase being in Ethereum.  Going to let it ride and see what happens.  Might put some more in Ethereum in a dollar cost averaging scenario, but not sure at this point.

islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Apr 27, 2021 - 9:14pm

 Steely_D wrote:


Until it's accepted by the farmer selling his eggs, or the marketplace bazaar, then it's not a viable currency. Big Companies are willing to jump in, to make sure they're there if something happens, but it's like so many other "innovations" that lack vision for the future. The kids are trying to make it happen, so they get a sense of being able to Change the World, but they're naive.

Blockchain, OTOH, can be very useful for transactions, medical records, etc. But that's not the same as trying to replace fiat currency in a world where a well-placed EMP can cut you off from all your stuff that you've stored online.


Kurtster is actually right here. Currency has value because we agree it does. Your bills with an extra zero are worth 10X what mine are because we agree on it.  Blockchain has a lot of value and many other applications, but bitcoin has a value because we all say it does.

It's far from the ground floor, and as with many other investments - once you hear about it, it's probably too late. 
kurtster

kurtster Avatar

Location: where fear is not a virtue
Gender: Male


Posted: Apr 27, 2021 - 8:38pm

 Steely_D wrote:
 black321 wrote:
Steely_D wrote:

TL;DR: F Cryptocurrency. 

"That’s what cryptocurrency is all about not novel technology, not empowerment, but making money. 
It has failed as an actual currency outside of some isolated examples of failed national economies. 
No, cryptocurrency is not a currency at all: it’s an investment vehicle. A tool for making the rich richer. 
And that’s putting it nicely; in reality it has a lot more in common with a Ponzi scheme than a genuine investment. 
What “value” does solving fake math problems actually provide to anyone? It’s all bullshit."

While it's value is speculative (no underlying value),
more retailers, companies are accepting it as payment/currency.
Until it's accepted by the farmer selling his eggs, or the marketplace bazaar, then it's not a viable currency. Big Companies are willing to jump in, to make sure they're there if something happens, but it's like so many other "innovations" that lack vision for the future. The kids are trying to make it happen, so they get a sense of being able to Change the World, but they're naive. Blockchain, OTOH, can be very useful for transactions, medical records, etc. But that's not the same as trying to replace fiat currency in a world where a well-placed EMP can cut you off from all your stuff that you've stored online.
 
Yep on the first bolded.  Nice to be able to get in on the ground floor of something for a change and roll the dice on my own.

On the second bolded.  It's all crypto, if it is not fiat cash in hand.  You may or may not remember when the Twin Towers went down, credit / debit cards were instantly worthless as in useless.  The only thing that worked for a few days was cash.  Didn't take an EMP or a Coronal Mass Ejection, although those are matters that I pay close attention to and have for at least the past 10 years.  I have been an advocate of hardening our grid since I became aware of the real danger.

Back to it's all crypto.  The only difference is that government money has a somewhat fixed exchange value, while the official crypto changes value constantly.  I hope you have some cash in small bills in your earthquake kit.  Large bills can be hard to make change for ...
Steely_D

Steely_D Avatar

Location: Biscayne Bay
Gender: Male


Posted: Apr 27, 2021 - 1:14pm

 black321 wrote:


While it's value is speculative (no underlying value),
more retailers, companies are accepting it as payment/currency.


Until it's accepted by the farmer selling his eggs, or the marketplace bazaar, then it's not a viable currency. Big Companies are willing to jump in, to make sure they're there if something happens, but it's like so many other "innovations" that lack vision for the future. The kids are trying to make it happen, so they get a sense of being able to Change the World, but they're naive.

Blockchain, OTOH, can be very useful for transactions, medical records, etc. But that's not the same as trying to replace fiat currency in a world where a well-placed EMP can cut you off from all your stuff that you've stored online.
black321

black321 Avatar

Location: An earth without maps
Gender: Male


Posted: Apr 27, 2021 - 11:44am

 Steely_D wrote:

TL;DR: F Cryptocurrency. 

"That’s what cryptocurrency is all about not novel technology, not empowerment, but making money. 
It has failed as an actual currency outside of some isolated examples of failed national economies. 
No, cryptocurrency is not a currency at all: it’s an investment vehicle. A tool for making the rich richer. 
And that’s putting it nicely; in reality it has a lot more in common with a Ponzi scheme than a genuine investment. 
What “value” does solving fake math problems actually provide to anyone? It’s all bullshit."



While it's value is speculative (no underlying value),
more retailers, companies are accepting it as payment/currency.
Steely_D

Steely_D Avatar

Location: Biscayne Bay
Gender: Male


Posted: Apr 27, 2021 - 11:13am

TL;DR: F Cryptocurrency. 

"That’s what cryptocurrency is all about not novel technology, not empowerment, but making money. 
It has failed as an actual currency outside of some isolated examples of failed national economies. 
No, cryptocurrency is not a currency at all: it’s an investment vehicle. A tool for making the rich richer. 
And that’s putting it nicely; in reality it has a lot more in common with a Ponzi scheme than a genuine investment. 
What “value” does solving fake math problems actually provide to anyone? It’s all bullshit."
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