OT: Stock and Investment Thread

[T2Kplus20]

The big difference is with PCs and the Internet there were massive barriers to entry
and very few had the necessary coding and programming skills to pull it off. Those kids didn’t start in their parent’s basement. They started at Stanford, CalTech, MIT, etc. There weren’t thousands of YouTube videos and online resources teaching you how to code. Anyone can launch their own coin these days and you are only a tweet away from striking it rich. Regardless, I fully recognize that BTC and digital assets are a store of value and there is plenty of money to be made. But, I do believe that the market will become so saturated with digital assets and speculation will run wild ultimately leading to a day of reckoning.

The market is already saturated with digital assets, but guess what. 99.9999% of people don't give a **** about any of those. It's only BTC (and some are starting to care and understand the value of ETH). The room beyond this for successful coins/blockchains is very limited.

 

[RUAldo]

The market is already saturated with digital assets, but guess what. 99.9999% of people don't give a **** about any of those. It's only BTC (and some are starting to care and understand the value of ETH). The room beyond this for successful coins/blockchains is very limited.

Trust me, despite my posts, I hear what you are saying.

 

[T2Kplus20]

Trust me, despite my posts, I hear what you are saying.

Hey, I'm ultra new to this, so perhaps I'm wrong about it all!

But it makes sense, at least it's overall value prop and utility. We shall see.

 

[Scarletnut]

For laymen, myself included, trying to understand blockchain is as difficult to understand as theoretical physics, yet laymen, in general, agree that theoretical physics is a legitimate course of study/science and its study has resulted in some tangible benefits. I have a very minimal understanding of blockchain, yet I understand the concept. Bitcoin is just one tangible benefit of blockchain.
To the point a previous poster's question about who is investing in blockchain, many, many companies are allocating some research into the benefits of blockchain for their industries, from banks, techs like IBM and many others.

 

[bob-loblaw]

If blockchain or the tech underlying cryptocurrency is a real source of value, where are all the billion dollar Silicon Valley blockchain companies? How many blockchain companies does Musk or Cuban own? Instead, you have a bunch of kids in their parents’ basements creating new coins and digital assets every day. There is no end as long as the demand is there - until it’s not. I’m interested in BTC because I’m always up for making money from a source other than my job and traditional investments. But, like everyone else these days, I could care less about the tech and just want to see my digital wallet explode. FOMO at its finest.

Again, anecdotal assumptions.

If you could "care less about the tech" you're not looking at crypto the right way. Ive witnessed my digital wallet explode and look forward to seeing it continue to do so. But the underlying tech is what determines if I will put money behind an alt.

 

[RUinPAC10land]

Is the CCIV- Lucid Motor merger going to happen? It would be crazy if it gets announced premarket.

 

[RUAldo]

Again, anecdotal assumptions.

If you could "care less about the tech" you're not looking at crypto the right way. Ive witnessed my digital wallet explode and look forward to seeing it continue to do so. But the underlying tech is what determines if I will put money behind an alt.

In an effort to try and educate myself further, I spent the morning watching Coin Bureau’s “Guy the crypto guy”. Am I the only one that can’t find any real background info on Guy? There are profiles on Coin Bureau for authors like Mike Jenkins who is a “friend of Guy”. But, unless I missed it, can’t even find Guy’s full or real name. Just for argument sake - it wouldn’t be too hard for some crypto millionaires/billionaires to get a shill like “Guy” to read off a script pushing their agenda and making them rich as unsuspecting people jump deeper into the unregulated crypto craze. And, of course the wise selection would be to choose someone with a British accent to make them sound even smarter as they are reading off cue cards. It’s almost as if the more research I do the more I can’t help but think this is a mass conspiracy perpetrated by an underground group of swindlers. With that said, people are certainly making lots of money off this mania so in that respect all the power to them.

 

[RUAldo]

Again, anecdotal assumptions.

If you could "care less about the tech" you're not looking at crypto the right way. Ive witnessed my digital wallet explode and look forward to seeing it continue to do so. But the underlying tech is what determines if I will put money behind an alt.

Again, for conspiracy theory sake, for about $3K I could hire a British actor, cut a 20 min video, and create some online marketing materials about a new altcoin called “SchianoCoin” and I will guarantee that some people, especially a few on this board, would “invest”. At the very least, I’m thinking I could clear $3K. Just saying...

 

[Rutgers Chris]

Is the CCIV- Lucid Motor merger going to happen? It would be crazy if it gets announced premarket.

From your lips to god’s ears. Sure seems like everyone thinks it’s happening with the run it went on yesterday.

 

[bob-loblaw]

Is the CCIV- Lucid Motor merger going to happen? It would be crazy if it gets announced premarket.

From your lips to god’s ears. Sure seems like everyone thinks it’s happening with the run it went on yesterday.

I'm in the same boat. I own a ton of cciv warrants I grabbed clfor close to $1

 

[T2Kplus20]

Article on the recent SPAC-athon of companies:

https://www.cnbc.com/2021/02/13/spacs-long-shunned-in-silicon-valley-going-mainstream-in-tech.html

 

[RU05]

So a tax question.

Given I manage my own account, and do so at home on my computer, or on my phone, can I write those off? How about my internet, or cable service given I watch and learn from CNBC? Or at least a % of these things? Seems I should be able to, just looking for a confirmation.

Can I also write off my couch? Or my pajamas? Joking here, but I almost feel that I could.

 

[Jtung230]

So a tax question.

Given I manage my own account, and do so at home on my computer, or on my phone, can I write those off? How about my internet, or cable service given I watch and learn from CNBC? Or at least a % of these things? Seems I should be able to, just looking for a confirmation.

Can I also write off my couch? Or my pajamas? Joking here, but I almost feel that I could.

The better question is do you want to be audited by the IRS?

 

[RU05]

As per the R2k/small cap/penny stock upward trend and where we are in the potential for a bubble bursting or just a correction amongst that group.

I do think we are at least approaching bubble territory, but you again have to ask, where are we in the bubble? I'd say fairly early on. I def do not think this thing bursts prior to, or immediately after the next round of stimulus checks. I think the bubble will continue to pump upwards, perhaps significantly, once those checks are cut.


So I'll continue to have exposure to the small and micro caps. I'll keep it fairly moderate so as not put too much risk on, and I'll continue to pull profits so as to feed the more value oriented portion of my portfolio. But in my humble opinion, this continues to be clear oppurtunity.

 

[T2Kplus20]

So a tax question.

Given I manage my own account, and do so at home on my computer, or on my phone, can I write those off? How about my internet, or cable service given I watch and learn from CNBC? Or at least a % of these things? Seems I should be able to, just looking for a confirmation.

Can I also write off my couch? Or my pajamas? Joking here, but I almost feel that I could.

I don't think you can write those things off unless it is for your "job" (not managing your investments).

 

[RU05]

The better question is do you want to be audited by the IRS?

If I'm making trades, and managing my account, on my computer and my phone, seems clear I should be able to write those things off. As well as my internet. Maybe not 100%, but some portion of it.

I thought it was a pretty fair question.

 

[RU05]

I don't think you can write those things off unless it is for your "job" (not managing your investments).

If I'm claiming them as income, isn't it a job of some sort? Perhaps I need to claim the profits in a certain way?

Edit: Given the below there is a distinction between day trading and investing. I don't think I meet the criteria for day trader.

 

[RU05]

Of course I could just have googled it.

Day Trading Expenses You Can Deduct from Your Income Tax - dummies

Here's another one.

Taxes on trading income in the US - Tax rate info for Forex or day trading

 

[Scarletnut]

Mohammed El-Arian, a well known money manager, has said the market is in a “rational bubble”, citing the fact that there is no other place to put money at this time. Other money managers have cited bubbles in certain sectors, not the whole market. All reasons to invest prudently with monies necessary for your lifestyle.
On another note, bitcoin almost hit 50k (which I personally predicted it would hit by Valentines Day).

 

[T2Kplus20]

As per the R2k/small cap/penny stock upward trend and where we are in the potential for a bubble bursting or just a correction amongst that group.

I do think we are at least approaching bubble territory, but you again have to ask, where are we in the bubble? I'd say fairly early on. I def do not think this thing bursts prior to, or immediately after the next round of stimulus checks. I think the bubble will continue to pump upwards, perhaps significantly, once those checks are cut.


So I'll continue to have exposure to the small and micro caps. I'll keep it fairly moderate so as not put too much risk on, and I'll continue to pull profits so as to feed the more value oriented portion of my portfolio. But in my humble opinion, this continues to be clear oppurtunity.

I am watching the R2K very closely. I have a few R2K etfs, but mostly I am in the S&P Completion Index which is a nice mix of mid and small caps. This index is the top 3000 stocks minus those in the S&P 500.

I just moved our 2 biggest retirement accounts to IRAs (finally, after long deliberation). The new combined account (which is 55% of our retirement assets) has 13% in PEXMX (completion index). Also increased our exposure to PRGTX (which is rocking) and now 12.5% into ARKK (yup, I made the move!). To date, I only had ARKK in our E-Trade account which only makes up 12-13% of our retirement assets. SOXX and XSD also made it into our main retirement account. Looks like E-Trade is our testing account!

 

[RUAldo]

Mohammed El-Arian, a well known money manager, has said the market is in a “rational bubble”, citing the fact that there is no other place to put money at this time. Other money managers have cited bubbles in certain sectors, not the whole market. All reasons to invest prudently with monies necessary for your lifestyle.
On another note, bitcoin almost hit 50k (which I personally predicted it would hit by Valentines Day).

A “rational bubble” makes sense although WSB and the rise of the retail trader makes it more complicated. I’m starting to think the Gov’t is complicit in the madness surrounding GameStop, BTC, etc. because the IRS is drooling at the opportunity to take in all of the short term cap gains receipts. I’m not sure a lot of folks realize the tax implications of day trading. Accountants will have their hands full this tax season.

 

[T2Kplus20]

Mohammed El-Arian, a well known money manager, has said the market is in a “rational bubble”, citing the fact that there is no other place to put money at this time. Other money managers have cited bubbles in certain sectors, not the whole market. All reasons to invest prudently with monies necessary for your lifestyle.
On another note, bitcoin almost hit 50k (which I personally predicted it would hit by Valentines Day).

Very reasonable POV, love that term.....rational bubble. Haven't heard it before! I see that BTC hit 49.7k this morning. Almost! I assume there may be a selloff/dip when it hits 50k. Gotta be ready to buy some more.

 

[RU05]

Interesting tidbit from the 2nd link I posted above.

Apparently to be considered a "day trader" and thus get those tax benefits you need to make a "substantial" amount of trades in a year, though the don't specify what that means exactly. So the article points to case law for direction.

"Endicott had made 204 trades in 2006 and 303 in 2007. Then in 2008, he made 1,543 trades. The court decided that the number of trades was not substantial in 2006 and 2007, but that it was in 2008."

I'll have to check to see if I made that many trades. I'd guess that I can prorate that # given I started trading late in March into early June.

 

[RU05]

Very reasonable POV, love that term.....rational bubble. Haven't heard it before! I see that BTC hit 49.7k this morning. Almost! I assume there may be a selloff/dip when it hits 50k. Gotta be ready to buy some more.

Perhaps an intentional(or Freudian) play off of Greenspans "rational exuberance".

 

[T2Kplus20]

Interesting tidbit from the 2nd link I posted above.

Apparently to be considered a "day trader" and thus get those tax benefits you need to make a "substantial" amount of trades in a year, though the don't specify what that means exactly. So the article points to case law for direction.

"Endicott had made 204 trades in 2006 and 303 in 2007. Then in 2008, he made 1,543 trades. The court decided that the number of trades was not substantial in 2006 and 2007, but that it was in 2008."

I'll have to check to see if I made that many trades. I'd guess that I can prorate that # given I started trading late in March into early June.

But with the standard deduction, would you even have enough to itemize your deductions? If no, than no point in taking the risk.

 

[Scarletnut]

Very reasonable POV, love that term.....rational bubble. Haven't heard it before! I see that BTC hit 49.7k this morning. Almost! I assume there may be a selloff/dip when it hits 50k. Gotta be ready to buy some more.

Actually, if it breaks 50k (psychological barrier), you'll see it run up quite a bit before consolidating again at some value above 50k. That would be typical of the pattern bitcoin has followed.

 

[T2Kplus20]

Actually, if it breaks 50k (psychological barrier), you'll see it run up quite a bit before consolidating again at some value above 50k. That would be typical of the pattern bitcoin has followed.

Good to know, glad I bit the bullet and topped off my BTC (even at a higher price than I wanted).

 

[RU05]

Just some novice technical chart reading here.

But VZ has been battling a $62 resistance level since late 2018. This is also right about the then all time high that it hit in 1999, a level at which it retreated back from for 10 years. From early 2010 to 2018 it more then doubled until it hit that resistance.

A p/e of 12x, 4.6% dividend, some modest growth expected in the years ahead.

As I'm looking for safe havens to park my money in case of the bubble pop to balance the portfolio, this one looks pretty good. Relative to the market it's dip from $58 to $50 in March is pretty mild. It was even back to that $58 level in less then a month.

Thinking a bubble pop, or even a sizable correction, could be the impetus for a break out past those resistance levels as well, as speculative money rotates to value.

I talked about this the other day, I believe with RUAldo, and he liked AT&T better. But T hasn't performed at all post covid, still much closer to it's March lows then it was to it's pre covid levels. It also hasn't performed nearly as well since the 2000 bubble pop. Again much closer to the lows of 2003 then it's highs in 2000.

Both were right around $60 in 2000. VZ a bit higher.

 

[RUAldo]

Just some novice technical chart reading here.

But VZ has been battling a $62 resistance level since late 2018. This is also right about the then all time high that it hit in 1999, a level at which it retreated back from for 10 years. From early 2010 to 2018 it more then doubled until it hit that resistance.

A p/e of 12x, 4.6% dividend, some modest growth expected in the years ahead.

As I'm looking for safe havens to park my money in case of the bubble pop to balance the portfolio, this one looks pretty good. Relative to the market it's dip from $58 to $50 in March is pretty mild. It was even back to that $58 level in less then a month.

Thinking a bubble pop, or even a sizable correction, could be the impetus for a break out past those resistance levels as well, as speculative money rotates to value.

I talked about this the other day, I believe with RUAldo, and he liked AT&T better. But T hasn't performed at all post covid, still much closer to it's March lows then it was to it's pre covid levels. It also hasn't performed nearly as well since the 2000 bubble pop. Again much closer to the lows of 2003 then it's highs in 2000.

Both were right around $60 in 2000. VZ a bit higher.

Agree - AT&T hasn’t done squat since COVID b/c tech and small and mid caps roared, but it seems to have found a floor in the $28-$29 range. My sense is that it can’t go much lower and has upside potential with HBO Max. 7% dividend appears safe as well. It’s one of my safety plays instead of cash.

 

[T2Kplus20]

Just some novice technical chart reading here.

But VZ has been battling a $62 resistance level since late 2018. This is also right about the then all time high that it hit in 1999, a level at which it retreated back from for 10 years. From early 2010 to 2018 it more then doubled until it hit that resistance.

A p/e of 12x, 4.6% dividend, some modest growth expected in the years ahead.

As I'm looking for safe havens to park my money in case of the bubble pop to balance the portfolio, this one looks pretty good. Relative to the market it's dip from $58 to $50 in March is pretty mild. It was even back to that $58 level in less then a month.

Thinking a bubble pop, or even a sizable correction, could be the impetus for a break out past those resistance levels as well, as speculative money rotates to value.

I talked about this the other day, I believe with RUAldo, and he liked AT&T better. But T hasn't performed at all post covid, still much closer to it's March lows then it was to it's pre covid levels. It also hasn't performed nearly as well since the 2000 bubble pop. Again much closer to the lows of 2003 then it's highs in 2000.

Both were right around $60 in 2000. VZ a bit higher.

Regarding Verizon and AT&T, are they doing anything innovative? As CW says, innovative or get disrupted.

 

[RUAldo]

Regarding Verizon and AT&T, are they doing anything innovative? As CW says, innovative or get disrupted.

HBO Max has the potential to disrupt and the last quarter was actually very good. Right now, debt levels are keeping the Telcos down, plus they aren’t sexy enough for the RH traders. But, if there is a sector rotation or a correction in the market AT&T and VZ are not bad places to park cash for a while and enjoy the dividends.

 

[bob-loblaw]

In an effort to try and educate myself further, I spent the morning watching Coin Bureau’s “Guy the crypto guy”. Am I the only one that can’t find any real background info on Guy? There are profiles on Coin Bureau for authors like Mike Jenkins who is a “friend of Guy”. But, unless I missed it, can’t even find Guy’s full or real name. Just for argument sake - it wouldn’t be too hard for some crypto millionaires/billionaires to get a shill like “Guy” to read off a script pushing their agenda and making them rich as unsuspecting people jump deeper into the unregulated crypto craze. And, of course the wise selection would be to choose someone with a British accent to make them sound even smarter as they are reading off cue cards. It’s almost as if the more research I do the more I can’t help but think this is a mass conspiracy perpetrated by an underground group of swindlers. With that said, people are certainly making lots of money off this mania so in that respect all the power to them.

Again, for conspiracy theory sake, for about $3K I could hire a British actor, cut a 20 min video, and create some online marketing materials about a new altcoin called “SchianoCoin” and I will guarantee that some people, especially a few on this board, would “invest”. At the very least, I’m thinking I could clear $3K. Just saying...

Lol to the nonsensical stuff again. There's countless "real" people you can listen to to educate yourself on BTC and crypto. The Pomp Podcast by Anthony Pompliano is a good place. He's had some excellent guests on; Mark Cuban, Cramer, Chamath, Cathie Wood, Jon Najarian, Portnoy, Gary Vee, etc. He's an excellent interviewer.

And yes, as I mentioned a few posts ago, we could very easily go on GitHub, download some source code, relabel that and ta-da, we have our own coin. But common sense as an investor will tell you not to invest in that. Even if we hired Sir Ben Kingsley to do the VO work on the commercial. It's no different than everyone who looked at a SPAC like Nikola and drank the kool aid that it was destined for greatness. Some quick DD quickly unveiled the ex-CEO as a fraud. I'm done after this reply. Best of luck to you in all your investments. I cant keep having the same conversation regurgitated with different extreme examples cited each time.

 

[RUAldo]

Lol to the nonsensical stuff again. There's countless "real" people you can listen to to educate yourself on BTC and crypto. The Pomp Podcast by Anthony Pompliano is a good place. He's had some excellent guests on; Mark Cuban, Cramer, Chamath, Cathie Wood, Jon Najarian, Portnoy, Gary Vee, etc. He's an excellent interviewer.

And yes, as I mentioned a few posts ago, we could very easily go on GitHub, download some source code, relabel that and ta-da, we have our own coin. But common sense as an investor will tell you not to invest in that. Even if we hired Sir Ben Kingsley to do the VO work on the commercial. It's no different than everyone who looked at a SPAC like Nikola and drank the kool aid that it was destined for greatness. Some quick DD quickly unveiled the ex-CEO as a fraud. I'm done after this reply. Best of luck to you in all your investments. I cant keep having the same conversation regurgitated with different extreme examples cited each time.

Bob - All of the “real” people you referenced have a vested interest in the success of BTC. Do you think they are going to buy BTC and then go on CNBC saying it’s a scam? They are making a fortune from cryptocurrency just like Musk, Winklevoss twins, etc. And, there are a ton of retail traders that aren’t exercising “common sense” because they are buying shitcoins they don’t understand. I’m posting questions about cryptocurrency mainly because I’m a seasoned investor that can’t wrap my head around the fact that people are investing billions or more into an imaginary currency created by a person nobody knows and almost 3/4 of the crypto mining operations are located in the countries that pose the greatest threats to the United States. I get blockchain and digital assets - that’s easy. But you have yet to explain cryptocurrency beyond the notions that “everybody is doing it” and “it will go up”. Like I said, I wanna make money like the next guy but the cryptocurrency mania is bordering on insanity. And the only reason Wall Street’s jumping in is because they are so pissed they are late to the game and everyone else is making money. That, and it probably kills them that they didn’t come up with this pyramid scheme as the second act to mortgage backed securities.

 

[bob-loblaw]

Bob - All of the “real” people you referenced have a vested interest in the success of BTC. Do you think they are going to buy BTC and then go on CNBC saying it’s a scam? They are making a fortune from cryptocurrency just like Musk, Winklevoss twins, etc. And, there are a ton of retail traders that aren’t exercising “common sense” because they are buying shitcoins they don’t understand. I’m posting questions about cryptocurrency mainly because I’m a seasoned investor that can’t wrap my head around the fact that people are investing billions or more into an imaginary currency created by a person nobody knows and almost 3/4 of the crypto mining operations are located in the countries that pose the greatest threats to the United States. I get blockchain and digital assets - that’s easy. But you have yet to explain cryptocurrency beyond the notions that “everybody is doing it” and “it will go up”. Like I said, I wanna make money like the next guy but the cryptocurrency mania is bordering on insanity. And the only reason Wall Street’s jumping in is because they are so pissed they are late to the game and everyone else is making money. That, and it probably kills them that they didn’t come up with this pyramid scheme as the second act to mortgage backed securities.

Do research before commenting in the affirmative. I mentioned a broad spectrum of people who went on that persons podcast, not cnbc. They have all gone on to discuss varying things. Not all are (or at the time) were supportive of BTC. Cramer basically learned about btc on this podcast. Portnoy cried about how much he lost in the last run. Musk bought BTC a week ago.

Of course theres retailers losing money in shitcoins. Honestly it was worse in '18 when the first alt rally happened. I know multiple people who were hosed on coins. It's on me to listen to them and learn form them.

If you want to wrap your head around shitcoin, pick one and do research on one and see why they exist, as well as what theyre trying to accomplish. BTC is what it is. There's one use for it, as a store of value/coin.

Other coins have purpose. The one Im high on, Elastos, is aiming to gain acceptance of a decentralized internet (or internet 3.0) It's not a pipe dream, they have a tangible technology that can be used, and the founder was one of the founders of the internet, and big wig at Microsoft. Thats an easy coin for me to wrap around an investment in.

 

[T2Kplus20]

Bob - All of the “real” people you referenced have a vested interest in the success of BTC. Do you think they are going to buy BTC and then go on CNBC saying it’s a scam? They are making a fortune from cryptocurrency just like Musk, Winklevoss twins, etc. And, there are a ton of retail traders that aren’t exercising “common sense” because they are buying shitcoins they don’t understand. I’m posting questions about cryptocurrency mainly because I’m a seasoned investor that can’t wrap my head around the fact that people are investing billions or more into an imaginary currency created by a person nobody knows and almost 3/4 of the crypto mining operations are located in the countries that pose the greatest threats to the United States. I get blockchain and digital assets - that’s easy. But you have yet to explain cryptocurrency beyond the notions that “everybody is doing it” and “it will go up”. Like I said, I wanna make money like the next guy but the cryptocurrency mania is bordering on insanity. And the only reason Wall Street’s jumping in is because they are so pissed they are late to the game and everyone else is making money. That, and it probably kills them that they didn’t come up with this pyramid scheme as the second act to mortgage backed securities.

Everyone has a vested interest in something or a vested interest in something not working. If that is your litmus test, I don't think there is anyone you can listen to about anything.

 

[RUAldo]

Everyone has a vested interest in something or a vested interest in something not working. If that is your litmus test, I don't think there is anyone you can listen to about anything.

Agree 100%. And the Internet makes separating fact from fiction nearly impossible.

 

[Frida's Boss]

Bob - All of the “real” people you referenced have a vested interest in the success of BTC. Do you think they are going to buy BTC and then go on CNBC saying it’s a scam? They are making a fortune from cryptocurrency just like Musk, Winklevoss twins, etc. And, there are a ton of retail traders that aren’t exercising “common sense” because they are buying shitcoins they don’t understand. I’m posting questions about cryptocurrency mainly because I’m a seasoned investor that can’t wrap my head around the fact that people are investing billions or more into an imaginary currency created by a person nobody knows and almost 3/4 of the crypto mining operations are located in the countries that pose the greatest threats to the United States. I get blockchain and digital assets - that’s easy. But you have yet to explain cryptocurrency beyond the notions that “everybody is doing it” and “it will go up”. Like I said, I wanna make money like the next guy but the cryptocurrency mania is bordering on insanity. And the only reason Wall Street’s jumping in is because they are so pissed they are late to the game and everyone else is making money. That, and it probably kills them that they didn’t come up with this pyramid scheme as the second act to mortgage backed securities.

No one understands crypto. People buy it because it’s going up. Sure, other reasons are offered such as a “store of value” but how does something with zero intrinsic value and large price volatility serve as an effective store of value?

It is not a medium of exchange. It is not legal tender for any large, industrialized nation.

Now, it might go to $500k per coin, who knows? But ask any enthusiast what it’s worth, and you won’t be able to get any response other than the nonsensical “it’s worth what someone is willing to pay for it.”

I find it sad that so many people waste their time with it.

 

[RUAldo]

Do research before commenting in the affirmative. I mentioned a broad spectrum of people who went on that persons podcast, not cnbc. They have all gone on to discuss varying things. Not all are (or at the time) were supportive of BTC. Cramer basically learned about btc on this podcast. Portnoy cried about how much he lost in the last run. Musk bought BTC a week ago.

Of course theres retailers losing money in shitcoins. Honestly it was worse in '18 when the first alt rally happened. I know multiple people who were hosed on coins. It's on me to listen to them and learn form them.

If you want to wrap your head around shitcoin, pick one and do research on one and see why they exist, as well as what theyre trying to accomplish. BTC is what it is. There's one use for it, as a store of value/coin.

Other coins have purpose. The one Im high on, Elastos, is aiming to gain acceptance of a decentralized internet (or internet 3.0) It's not a pipe dream, they have a tangible technology that can be used, and the founder was one of the founders of the internet, and big wig at Microsoft. Thats an easy coin for me to wrap around an investment in.

I’ll research Elastos. By the way, I’m not suggesting you don’t know what you are talking about. I’ve been interested in cryptocurrency for a while but have yet to make a move.

 

[T2Kplus20]

ARK's Feb webcast has been uploaded for replay (great listen):

https://ark-invest.com/webinars/february-21-market-update-webinar/

 

[bob-loblaw]

No one understands crypto. People buy it because it’s going up. Sure, other reasons are offered such as a “store of value” but how does something with zero intrinsic value and large price volatility serve as an effective store of value?

It is not a medium of exchange. It is not legal tender for any large, industrialized nation.

Now, it might go to $500k per coin, who knows? But ask any enthusiast what it’s worth, and you won’t be able to get any response other than the nonsensical “it’s worth what someone is willing to pay for it.”

I find it sad that so many people waste their time with it.

What is sad? You're obviously a student of history, based on your posts. Things change. Adapt or die is a phrase I've told everyone who has worked for me.

History shows countless examples of industries who fail to adapt to change and die. Crypto... is. Not. Going. Away. It's at a point now where not having a small % of your portfolio in crypto is unwise