OT: Stock and Investment Thread
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Seems that it’s an asset class entirely driven by speculation. There is no real transactional market for the altcoins.
This may not be an investment topic but since there's a lot of talk about EV and clean energy, we've mentioned fusion also. If the timeline in this article is remotely accurate, our climate change future would certainly look brighter.
For altcoins, not yet. For BTC and ETH (and even stable coins), big transactional markets for them.
People have tried to make fusion work for 50 years without success. If their timelines turned out to be accurate we'd have had a working fusion reactor by 1990, then 1995, then 2000 .....
If you want to buy the equivilent of a MegaMillions ticket have fun.
First of all, I'm not advocating investing in this technology. I'm just pointing out the technology which you can't compare to technology in 1990 or 1995. Advances in all technology is advancing at lightening speed. Poopooing ideas that seem like science fiction sounds a lot like the disparaging of the internet as a viable vehicle of communication and business in the 1990's.
If you have a spare 3.5 hours, listen to Elon on Joe Rogen yesterday. His views on various technologies are mind-blowing.
Experts have been saying that fusion is only 10 years away for the past 50 years.
While I've always been hopeful for fusion, it still has that energy input vs output problem. It's a daunting challenge.
2 guys drinking whiskey, having some laughs, bullshitting about science, a little politics, and engineering. It was a great listen. I continue to be amazed at the level of detail Elon knows about each and every one of his projects whether it's Tesla, Neuralink, Boring Co, or SpaceX.
I've always found their articles to be click baitish.
I looked into Motley Fool and Morningstar Premium. I went with Morningstar since I am more of a fund/ETF guy. However, MS has a lot of stock data and analyses. I have been very happy with their services and online options, including the X-Ray Portfolio tool.
Regardless, if you want straight-up stock recommendations, the Fool is probably better for you because that is their main focus.
Do you have an AMEX credit card and participate in Amex Offers? They have a promo where you get a statement credit for $99 when you use your AMEX at Motley Fool.
Motley Fool Rule Breakers one year subscription for $99:
Thanks but I am a Chase Sapphire Reserve guy.
Kenya has just announced that bitcoin will be their official reserve currency.
Promo is running through May 1st unless they max out for redemptions. I have the CSR and also have the AMEX Blue (no annual fee) just to take advantage of Amex Offers. Not too late to sign up...
Many African nations are considering adopting cryptos. Makes a lot of sense.
https://coingape.com/central-bank-of-kenya-to-use-bitcoin-as-reserve-currency/
"Shield Kenya from exploitative loans that threaten the sovereignty of Kenya" Do you realize what a big FU that is to China?
I'm surprised Zimbabwe hasn't done it. Then you wouldn't have to bring a wheelbarrow full of currency to the store to buy a Coke.
Not sure about Kenya, but Zimbabwe is putting Weimar Germany in the 20's to shame.
It’ll never be currency because it’s too volatile. Read the story about the guy who paid 10k BTC for 2 pizzas. Why would anyone pay someone an asset that can move up 10 to 20% for a fixed cost item? The other way is true too. Who wants to accept payment that can decrease 10-20%. The best hope is that it replaces Gold.
Because in these countries, their currency can move up 100 to 200% for a fixed cost item. Great step forward for them!
But in most cases, I agree, BTC is not a currency option, it is a replacement for gold (i.e., stored value).
+1
Agreed. The more institutions jump in, the less volatile it will be. It's been a nice bull run for the past 2 months, so let's see how big the correction is. After hitting $40k, it only went down to $30k and then bounced again. I assume the floor has been raised quite a bit.
The article was reportedly published by a Satire Website
The above sentence appeared in bold print below the linked article. Is there a legitimate source for this news?
Top BTC news articles via Google are the following (doesn't seem to be anything on Kenya):
Miami votes to study using Bitcoin for employee salaries and payments to City Hall
Regardless of Kenya, still pretty interesting news.
Up 10% on the trade. Was hoping for a bigger move but decided that better upside on VIX. I didn’t close out all of it. Will wait until it’s in the mid 40s. E*TRADE keeps dropping the rate to borrow the shares.BLNK down 0.5% today. Big move.
Every bit helps! Nice to see the market sprint through the finish line today. Great way to start the long weekend.
Amazing week for my crypto portfolio. Up overall about 48%. GBTC, ETHE, HIVE, Argo, and Galaxy. Argo is up over 90% for me. HIVE and Galaxy are up about 70%. That works!
Aren't the cryptocurrency your home run stocks? You don't want them to be volatile or else the upside is limited. Also, it can't become sole currency for a country because there is a finite number of bitcoins. These governments need to have the flexibility to print more money if needed.
Good move. Did you buy calls in the VIX? Today was a good day to buy UVXY. I used some of my proceeds from TLRY and APHA gains to buy UVXY call options. I bought 1000 March 12 call options ($8.5) for $1.79. Let's see how it goes.
No.
Buy a copy of Barrons on the newstand Saturday. That will give you better ideas than these guys who hit big on America Online & Amazon 15-20 years ago, and haven't done much but sell subscriptions since.
Good point, once BTC hits 500k and ETH hits 100k, then it can be less volatile.
It's extremely difficult to figure out what what/if you should invest in any alt coins. There's thousands of them, theyre unregulated and anyone can start one. Theyre all open source. In theory, I could go on Github download the source code for Ethereum and rebrand it as the Round Table coin. ...and poof, there it is. Scary, right?
The counter is finding alts that have real use cases, defi, lending, or any other problems. Most alt coins talk a good game about what they're going to do, but very few have real usage right now. The key word in that paragraph about clover is PLANNING. They're planning to do x, y & z. That's all sunshine and kittens but when will the plan phase get shifted to the execute phase.
Thats why I like the Elastos coin. Their decentralized web platform is built. It's live. You can use it. The UX needs some work, but it's not in planning. It's live.
The BTC madness is all driven by speculation and RH/retail gamblers looking to cash in. BTC skyrocketed a few years ago and then came crashing down. Add in pumpers like Musk and Kramer and it’s the perfect storm. This time, however, may be different but I’m not convinced BTC and altcoins are going to take over the world.