Investing in the stock market - Discussion

[themcdeal]

11 hours ago, Tortorella's Rant said:

What the hell is going on with btc. 

 

My friend who put in 10k when it was mid 70s is crying now I bet.

 

Bidens Capital Gains Tax is probably the biggest factor. People who FOMO will always lose.

To me, this is just business as usual lol 

 

[Tortorella's Rant]

9 hours ago, themcdeal said:

 

Bidens Capital Gains Tax is probably the biggest factor. People who FOMO will always lose.

To me, this is just business as usual lol 

 

I bet a bunch of those "doge to the moon!" hodl dummies lost much of their unrealized gain. It's so appealing the potential profit but so risky too as we all know. These double digit swings make me nauseous being the frugal individual I am. I lost some on the btcc.b but made money on XRP and BCH so came out ahead in the end. Glad I dumped btcc.b yesterday because, my god, it has got even uglier. 

[themcdeal]

6 minutes ago, Tortorella's Rant said:

I bet a bunch of those "doge to the moon!" hodl dummies lost much of their unrealized gain. It's so appealing the potential profit but so risky too as we all know. These double digit swings make me nauseous being the frugal individual I am. I lost some on the btcc.b but made money on XRP and BCH so came out ahead in the end. Glad I dumped btcc.b yesterday because, my god, it has got even uglier. 

 

Depending on the type of investor or what your outlook is towards certain crypto - You either HODL or need to collect profits

For myself personally, I've always HODL'd bitcoin and dont care about price movements of any sort. However for alt coins, I collect profit on because im much less confident regarding the actual application of those. 

 

That said, BTC has been on a tear the last 6 months, as Its been trading well above its moving averages. I see it falling another 10% at then stabilizing at some key support levels. Consolidation like this is normal and healthy during bull runs, however, those that haven't been in crypto's very long freak out every time something falls 20% and panic sell. 

 

 

 

[I.Am.Ironman]

2 hours ago, themcdeal said:

 

Depending on the type of investor or what your outlook is towards certain crypto - You either HODL or need to collect profits

For myself personally, I've always HODL'd bitcoin and dont care about price movements of any sort. However for alt coins, I collect profit on because im much less confident regarding the actual application of those. 

 

That said, BTC has been on a tear the last 6 months, as Its been trading well above its moving averages. I see it falling another 10% at then stabilizing at some key support levels. Consolidation like this is normal and healthy during bull runs, however, those that haven't been in crypto's very long freak out every time something falls 20% and panic sell. 

 

 

 

Yeah this is just another day/week in the cryptoverse. I'm in for long term. My strategy is to just dollar cost average into BTC and ETH over time. I try to pick my spots obviously. My btc purchases have been 18k, 24, 37, 47, 52. i will see where things go in the next week before adding again.

[NucksPatsFan]

Trading portfolio finished 5+% green 3 days in a row.

 

Naturally I expect next week to be a bloodbath and completely erase this weeks gains.

 

However, massive buys on the SPY at close so who knows.

[NucksPatsFan]

Picked up $21.50 Fubo calls expiring 4 days after earnings. Hoping for a SKLZ type run

[CBH1926]

Whoever thought of Bitcoin first is a genius.

Even now, 55k for basically lines of code, no intrinsic value whatsoever.

 

[themcdeal]

10 hours ago, CBH1926 said:

Whoever thought of Bitcoin first is a genius.

Even now, 55k for basically lines of code, no intrinsic value whatsoever.

 

When I first heard of it in 2014 while in university, I didnt think much of it but I was fortunate to listen to Andreas Antonopoulos on Joe Rogan's podcast who explained the concept and value proposition of it so well.

 

You dont have to be a genius to find technologies/companies that are early adopters. You have to be open and curious. 

The people I know who hate crypto and bitcoin have never spent any time trying to understand it. 

 

[I.Am.Ironman]

25 minutes ago, themcdeal said:

When I first heard of it in 2014 while in university, I didnt think much of it but I was fortunate to listen to Andreas Antonopoulos on Joe Rogan's podcast who explained the concept and value proposition of it so well.

 

You dont have to be a genius to find technologies/companies that are early adopters. You have to be open and curious. 

The people I know who hate crypto and bitcoin have never spent any time trying to understand it. 

 

I sat in my dorm room in 2012 learning about it and contemplated putting a few hundred bucks in.... I still think about that day.

Edited April 24, 2021 by I.Am.Ironman

[I.Am.Ironman]

double post

Edited April 24, 2021 by I.Am.Ironman

[CBH1926]

4 hours ago, themcdeal said:

When I first heard of it in 2014 while in university, I didnt think much of it but I was fortunate to listen to Andreas Antonopoulos on Joe Rogan's podcast who explained the concept and value proposition of it so well.

 

You dont have to be a genius to find technologies/companies that are early adopters. You have to be open and curious. 

The people I know who hate crypto and bitcoin have never spent any time trying to understand it. 

 

I know lot of people that own it and have made tremendous amounts of money with it.

It has been jumping in value year over year.

With all the energy it consumes it’s probably going to have an issue going forward, even if it goes green.

 

Someone paid $483 bucks for Game Stop shares, on a great day GME is worth 5 bucks.

Greed led to that, just like people buying Bitcoin at 75k, they are hoping it will be worth 1 million.

People that have invested in it, I wish them the best and hope that they make money.

For me personally, Bitcoin has no intrinsic value worth investing in.

 

 

 

[Hard_As_Ice]

Some Reits I  bought:Never owned Reits before.

 

ZRE

TNT

FCD

SGR

BTB

[UnkNuk]

6 hours ago, CBH1926 said:

I know lot of people that own it and have made tremendous amounts of money with it.

It has been jumping in value year over year.

With all the energy it consumes it’s probably going to have an issue going forward, even if it goes green.

 

Someone paid $483 bucks for Game Stop shares, on a great day GME is worth 5 bucks.

Greed led to that, just like people buying Bitcoin at 75k, they are hoping it will be worth 1 million.

People that have invested in it, I wish them the best and hope that they make money.

For me personally, Bitcoin has no intrinsic value worth investing in.

 

 

 

But isn't a lack of intrinsic value also true of paper currency?

 

That is, an American $100 bill is valuable because people think and treat it as valuable.  But it's also just a piece of paper (albeit one with some nice engraving on it).  And granted a piece of paper may have some minimal intrinsic value, but you know what I mean.

 

And doesn't this also touch on the difference between real wealth and symbolic wealth.  Food, resources, factories, knowledge are forms of real weath.  Money, stocks, numbers in a bank account are forms of symbolic wealth.  And it's easy to confuse the two.

 

And I think I'll stop here because, really, I only have half-baked opinions about all this and it is pretty confusing. 

[Boudrias]

11 hours ago, UnkNuk said:

But isn't a lack of intrinsic value also true of paper currency?

 

That is, an American $100 bill is valuable because people think and treat it as valuable.  But it's also just a piece of paper (albeit one with some nice engraving on it).  And granted a piece of paper may have some minimal intrinsic value, but you know what I mean.

 

And doesn't this also touch on the difference between real wealth and symbolic wealth.  Food, resources, factories, knowledge are forms of real weath.  Money, stocks, numbers in a bank account are forms of symbolic wealth.  And it's easy to confuse the two.

 

And I think I'll stop here because, really, I only have half-baked opinions about all this and it is pretty confusing. 

A question might be is how much is that $100 Bill worth today versus last year? 

[UnkNuk]

3 hours ago, Boudrias said:

A question might be is how much is that $100 Bill worth today versus last year? 

Which is a good question.

 

Another question might be is why is a bitcoin worth so much and the coins of of other cybercurrencies worth so little?  And what happens if a mass of people with money decide bitcoin is overpriced and they flock to one of the other cybercurrencies?  And bitcoin owners, seeing another hot opportunity, begin to sell their bitcoins to get in on this next hot cybercurrency.

[CBH1926]

20 hours ago, UnkNuk said:

But isn't a lack of intrinsic value also true of paper currency?

 

That is, an American $100 bill is valuable because people think and treat it as valuable.  But it's also just a piece of paper (albeit one with some nice engraving on it).  And granted a piece of paper may have some minimal intrinsic value, but you know what I mean.

 

And doesn't this also touch on the difference between real wealth and symbolic wealth.  Food, resources, factories, knowledge are forms of real weath.  Money, stocks, numbers in a bank account are forms of symbolic wealth.  And it's easy to confuse the two.

 

And I think I'll stop here because, really, I only have half-baked opinions about all this and it is pretty confusing. 

Value of the dollar is that the U.S government requires it as payment.

Also around 60% of world bank’s currencies are in USD, 40% of the debt is held in the USD and price of oil is in USD.

China and Russia and have been fighting for years to have new reserve currency that is not tied with any country.

I don’t think it comes as a surprise that 65% of Bitcoin is mined in China.

 

 

[I.Am.Ironman]

3 hours ago, UnkNuk said:

Which is a good question.

 

Another question might be is why is a bitcoin worth so much and the coins of of other cybercurrencies worth so little?  And what happens if a mass of people with money decide bitcoin is overpriced and they flock to one of the other cybercurrencies?  And bitcoin owners, seeing another hot opportunity, begin to sell their bitcoins to get in on this next hot cybercurrency.

I don't really see that happening anytime soon. Many of the big time bitcoin holders have been in since the early days and they would likely buy any major dips. They are big time believers. The thing is, bitcoin has more of a wealth gap than USD. I think something like 1% of BTC holders hold 90% of the value. Something along those lines. For this reason I don't know if it will replace flat currency, but it may be an alternative to gold as value storage.

 

Obviously BTC can't be used in the same way as gold practically, but it, like gold, has a fixed supply. BTC can also be transferred more efficiently and divided much more precisely. If it becomes some psuedo-international currency/value store, with a fixed supply, there is value there. In order for BTC to have long term value, there needs to be wide spread acceptance though, which appears to be starting (Tesla, Paypal, Apple, Visa, Mastercard etc). Heck Visa has started offering a BTC rewards credit card. Why I'm not as bullish on Coinbase as a stock is because I am still waiting for the major banks to get the go ahead to start offering crypto trading at lower rates.

[nuckin_futz]

1 hour ago, I.Am.Ironman said:

 Why I'm not as bullish on Coinbase as a stock is because I am still waiting for the major banks to get the go ahead to start offering crypto trading at lower rates.

That precisely is the death nail for CoinBase stock. In order for BTC to gain wider acceptance the volatility has to decrease substantially. If that happens it's bad for CoinBase as the volume will likely drop as there will be less opportunity to speculate in it for quick profits. CoinBase derives nearly all it's income from transaction fees. For CoinBase less trading means their revenues plunge.

 

If the volatility does not decrease and trading volumes remain high CoinBase will soon have competitors taking market share and squeezing them from their dominant position. Much like RobinHood and their commission free model forced the entire equity trading industry to abandon their decades old commission models and follow RobinHood down the path of commission free trading.

 

I see no scenario under which CoinBase isn't dead meat.

Edited April 26, 2021 by nuckin_futz

[I.Am.Ironman]

24 minutes ago, nuckin_futz said:

That precisely is the death nail for CoinBase stock. In order for BTC to gain wider acceptance the volatility has to decrease substantially. If that happens it's bad for CoinBase as the volume will likely drop as there will be less opportunity to speculate in it for quick profits. CoinBase derives nearly all it's income from transaction fees. For CoinBase less trading means their revenues plunge.

 

If the volatility does not decrease and trading volumes remain high CoinBase will soon have competitors taking market share and squeezing them from their dominant position. Much like RobinHood and their commission free model forced the entire equity trading industry to abandon their decades old commission models and follow RobinHood down the path of commission free trading.

 

I see no scenario under which CoinBase isn't dead meat.

Plus their fee is like 5%.. which is obscene. A CIBC, BMO, RBC, or any of them US outfits could charge half that and still make serious bank (puns are fun). Coinbase would be forced to match, or even charge less, which would devastate their revenue. I think I read 96% of Coinbase's revenue is from fees.

[rizzuto&hatoum]

I bought a small amount of Coinbase last week to complement the other 20 bitcoin stocks I own as shown on bitcointreasuries.org.

 

 

Name		Ticker	BV Price	Mkt Price	Return
MicroStrategy		MSTR	$172.94	$613.04	254%
Tesla		TSLA	$979.64	$897.24	-8%
Square		SQ	$220.28	$246.43	12%
Coinbase		COIN	$382.39	$358.70	-6%
Mogo		MOGO.wt	$2.60	$7.42	185%
Banxa		BNXA	$2.42	$6.30	161%
Galaxy		GLXY	$11.51	$32.60	183%
Bigg		BIGG	$0.58	$2.61	347%
Voyager		VYGR	$0.78	$23.04	2858%
Hut 8		HUT.WT	$0.27	$4.73	1678%
Hive		HIVE	$0.83	$3.55	326%
Bitfarms		BITF	$0.48	$4.47	825%
Riot		RIOT	$29.25	$47.33	62%
Marathon		MARA	$30.44	$39.73	31%
Fortress		FORT	$0.22	$0.48	114%
Cypherpunk		HODL	$0.18	$0.21	19%
Mechanical	Tech	MKTY	$5.30	$8.42	59%
GWAC		GWAC	$14.66	$12.33	-16%
DMGI		DMGI	$1.96	$1.41	-28%
3iQ Bitcoin Fund		QBTC	$30.64	$68.27	123%
Purpose BTC ETF		BTCC	$9.84	$10.64	8%
Evolve BTC ETF		EBIT	$23.05	$24.35	6%
CI Galaxy BTC ETF		BTCX	$10.44	$9.65	-8%
Tesla, Coinbase purchased in CAD