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Crypto Thread (and stocks too, if you want, I guess)


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43 minutes ago, Barry McCockinner said:

Where do you hear this stuff? Lol

What's the advantage of xyo over chain link? Or is it just a mob is about to pump it?

 

Hard to explain. It’s a combination of factors. I’ve self taught myself to read charts to a degree, I follow everything…be it Twitter, Discord’s, Stocktwits, Reditt etc. I’ve been able to find a couple solid TAs to follow. There’s a way to sift through the muck. Some is just sentiment and also cross referencing too. It’s the same formula as Mafia, when I first started, jump into it like I know what I’m doing until I can figure it out. It’s led to good fortune so far. How much is luck probably a good sum but so is life. Job allows me time to check a lot of things and some of it is just feel/sentiment + as much DD basics in a Google search. And some is buying/finding floors/support, patience and just holding. Between four different brokers I’m around $50 w $12 down so far this year…just following the right people/things and having a basic grasp of a chart w support and resistance. Some are long holds and some are short too

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2 hours ago, Jetscode1 said:

Lot of talk about crypto.  I'm sure this time it'll be different.  As the man above said.  Stick to the S&P 500.  Invest early and invest often.

Tulipmania. Tulipmania was the first major… | by Özak Durmuş | Medium

If a newbie investor wants to jump into the market they should do 40% SPY, 40% QQQ, and 20% IWM. With a portfolio like that you will experience the broad market for nominal fees. Personally I think everyone should have some cryptos in their portfolio regardless of time horizon, just adjust accordingly.

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3 hours ago, Barry McCockinner said:

Yes, look at the all-time log chart like you posted for s&p. There is no 4 year period you could have bought and held Bitcoin and not been up. You get bigger gains and more volatility because it's still an emerging asset class but long term it is up only just like s&p.

Bitcoin flipped the silver market cap today. 

Screenshot_20211108-211608.thumb.png.b26f0569f32cde994335fcf029247c07.png

 

I really don't know what to tell you. The crypto people seem to have a rolodex of platitudes that they defer to whenever anyone wants to reasonably discuss fundamentals. If you're going to sit here and type with a straight face that 12 years of a trendline is the same as 126 years then what's the point? Best of luck with it all and I hope you make more money.

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1 hour ago, RobR said:

If a newbie investor wants to jump into the market they should do 40% SPY, 40% QQQ, and 20% IWM. With a portfolio like that you will experience the broad market for nominal fees. Personally I think everyone should have some cryptos in their portfolio regardless of time horizon, just adjust accordingly.

Can't echo this enough. Super safe investing and they provide a gateway into learning about the stocks within the funds. IMO depending on how much you're putting in VOO can be the better buy over SPY. Trend lines are almost identical and the expense ratio is half a point cheaper. I'm with you on QQQ though it's been killing it this year. 

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3 hours ago, HessStation said:

 

Def two schools of thought. Can make money in both. That’s main reason I thought to start this. Wish I got involved earlier.

id be sitting prettier now if someone made me realize there’s money to be made if you can keep your wits bout you and do enough digging 

100%. What's it been, 130% return on FAANG over the last 18 months? 

I'm at a weird crossroads right now with MSFT since it erupted which ballooned it to 20% of my portfolio. Scary place to be and the book says to trim the position but I don't want to miss on the run if/when it splits. Given the value of the company I don't think I have much to worry about but the risk fairy is yelling at me to trim it.

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7 hours ago, RutgersJetFan said:

100%. What's it been, 130% return on FAANG over the last 18 months? 

I'm at a weird crossroads right now with MSFT since it erupted which ballooned it to 20% of my portfolio. Scary place to be and the book says to trim the position but I don't want to miss on the run if/when it splits. Given the value of the company I don't think I have much to worry about but the risk fairy is yelling at me to trim it.

I mean, I bought Jasmy last month at .05 and it’s .22, COTI at .30 now .55 and Loopring at 1.09 a couple days ago and it’s at 2.44. I’ll take those gains and less Market Maker/Hedge Fund manipulation that’s in the stock market any day of the week. You basically need a gamma or short squeeze in the stock market for those type of gains to happen that fast. But I guess there’s more risk per se. But if you dropped $1k on LUNA, which is both technically and fundamentally strong in Crypto terms, exactly one year ago today you’d have made $188k. 

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12 hours ago, HawkeyeJet said:

Also, I know nothing about investing or stocks or crypto. 

Look into Jack Bogle and the Bogleheads philosophy.  Three fund portfolios, etc.  Total US stock fund, Total Intl Stock Fund, Bond fund. You wont have the huge short term returns but its less volatile and as assured to increase over time as one can say with the stock market (which is to say, invest at your own risk).

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Regarding the comparison of stonks vs. bitcoin, this is a cool site to compare what a weekly DCA would have done in either asset (also vs. gold). Play with the starting & accumulate for parameters to get an idea of how the assets compare to each other over different timeframes. 

https://dcabtc.com?sd=2020-11-09&sda=1_year&f=weekly&d=1_year&ac=1000&c=true

^ that site works better on a computer than a phone.

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9 hours ago, RutgersJetFan said:

Because I'm a greedy moron.

P.S. My wife said the same thing.

Trailing Stops are the greedy mans best friend.

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9 minutes ago, Jetscode1 said:

 

What similarities do you see between tulips and bitcoin? This is a thing a lot of people latch on to but I don't think it's often thought through. I was going to ignore it but this is the second time you've brought it up.

I get the initial reaction to bitcoin is that it's kind of a crazy/stupid thing. That's pretty normal. It's probably everyone's initial reaction. But if you have an open mind and take the time to understand it better you may have a change of heart. Many do. I have seen you reevaluate things and come to a different conclusion, so I know this won't be a wasted exercise if you choose to participate.

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22 hours ago, Peace Frog said:

Is Litecoin ever going to get back over $420?

I would consider that one of the most boring coins to hold on every level. I am NOT any kind of expert but just based on following crypto like a Coke addict that last couple months.

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1 minute ago, HessStation said:

I would consider that one of the most boring coins to hold on every level. I am NOT any kind of expert but just based on following crypto like a Coke addict that last couple months.

Yeah I bought a bunch early on When it was trading between $250 and $280 so when it shot to $420 I figured the rise was going to continue. When it sunk below $200 for a LONG time I figured I’d just HODL and see what happens. 

Who knows. 

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12 hours ago, Barry McCockinner said:

What similarities do you see between tulips and bitcoin? This is a thing a lot of people latch on to but I don't think it's often thought through. I was going to ignore it but this is the second time you've brought it up.

I get the initial reaction to bitcoin is that it's kind of a crazy/stupid thing. That's pretty normal. It's probably everyone's initial reaction. But if you have an open mind and take the time to understand it better you may have a change of heart. Many do. I have seen you reevaluate things and come to a different conclusion, so I know this won't be a wasted exercise if you choose to participate.

Fair point.  Tulips is an example of a bubble and bitcoin and cryptocurrency as a whole has the potential to serve as a bubble.  I get the idea for supporting crypto.  In fact, the block chain technology behind  crypto is absolutely brilliant.  With that stated, I could argue that crypto is just another example of the never-ending cycle of America trusting/not trusting their money.  At times we prefer a de-centralized currency over a centralized currency.  Happened many times starting with the worthlessness of Continental dollars, then decentralize with State banks, to centralizing to Greenbacks, then to representative money of gold/silver to eventually the current Federal Reserve notes.  My bigger point is that for most investors the best bet to save for retirement is the boring but simple S&P 500 index fund.  In fact, I made a short post alluding to a million dollar bet Warren Buffet made with a super, duper hedge fund manager.  Link here.  Bottom line is boring beats brilliant for most of us.  Obviously, if you have money to spare or play money in some peoples mind then place your bet but realize you're gambling.

The risk with crypto is the fact that it needs to eventually compete with fiat money (government created money) and just like we saw with China recently, governments do not like competition.  Will/when the U.S. move against crypto?  I have no idea but when they do the elites in this country will have more advance knowledge than I.  The crypto craze will surely find many winners and losers as the financial industry loves a good horse race.  At times, I can kick myself for not gambling on bitcoin 10 years ago when it first came on my radar but I also realize that I do not have much play money and the boring bet is usually the wiser choice in the long run.         

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On 11/11/2021 at 1:56 AM, Bless you....Thank you said:

ENJ is my play

 

all these pay for play metaverse sites will use this token

I bought at 1.50 and then left too early bc I’m dumb. Bounce will be another huge NFT play too imo. 

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  • 2 weeks later...
11 hours ago, Bless you....Thank you said:

ENJ has been running. It will change the game

Banked hard on the metaverse coins this week. They all just dipped fwiw

GALA, MANA, SAND, ENJ ….bit coming back to life so not sure if they take a backseat short term or not now…LRC hot too…

 

as they all cool off if you can find the floor/support as they consolidate…great buys long 

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10 hours ago, RutgersJetFan said:

I wanna buy the dip but I already blew all my gains on steampunk NFTs.

That’s actually supercool. I’m such a novice instead of playing w NFTs I’m trying to at least be a part of it by buying the coins involved like Auction and Loopring etc. i sorta pivoted from “financial system utility” to “gaming and NFT utilities” recently.  It’s just a guess/hedge I’m hoping I can ride 

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