Stock Market/Investing

[knoxville7]

LOL @ Elon Musk. Like, Bro.

he don’t give a ****. Says we are taking away freedom with the lockdown, then cuts his workers pay the day Tesla earnings are released and they beat on those earnings...way to reward those that got you those earnings. Then today he says how Tesla’s stock price is too high and not worth all that, then stock tanks lol

hes pretty much just like trumpy boy

 

[ijustposthere]

he don’t give a ****. Says we are taking away freedom with the lockdown, then cuts his workers pay the day Tesla earnings are released and they beat on those earnings...way to reward those that got you those earnings. Then today he says how Tesla’s stock price is too high and not worth all that, then stock tanks lol

hes pretty much just like trumpy boy

I don't think he's like Trump, I think he's just eccentric. But the stock thing, lmao. Talk about self sabotage. Fucked up about cutting pay though, I hadn't heard that.

 

[knoxville7]

I don't think he's like Trump, I think he's just eccentric. But the stock thing, lmao. Talk about self sabotage. Fucked up about cutting pay though, I hadn't heard that.

he’s just as egotistical and narcissistic as trump

 

[MDB111™]

he’s just as egotistical and narcissistic as trump

He is a wack job, but if he muscles for a split, I'll be a buyer. I'm indirectly invested in Tesla through a great ETF called ARKW.

But christ, once investors get off the Tesla teet, it will tank down to realistic numbers like every other car manufacturer which is a huge margin away like 75 bucks per share is more what they are worth.
JP morgan is guessing Tesla crashes to 240.00 per share by Christmas! Hang on!

 

[ijustposthere]

Can someone explain to me why people buy crypto? Like, what is it supposed to shield against?

 

[knoxville7]

Can someone explain to me why people buy crypto? Like, what is it supposed to shield against?

its supposed to be a shield against inflation and traditional currencies failing due to lack of faith in paper backed by nothing in reality...while being another option than real gold due to how difficult it is to lug physical gold around. Bitcoin at least, has a finite amount that will ever exist in the world, thus maintaining and actually increasing value over time...in theory. What’s been interesting is how lately it seems to move along with the market. I would of thought that when the financial markets tanked, crypto would of gone up...but it didn’t.

 

[MDB111™]

its supposed to be a shield against inflation and traditional currencies failing due to lack of faith in paper backed by nothing in reality...while being another option than real gold due to how difficult it is to lug physical gold around. Bitcoin at least, has a finite amount that will ever exist in the world, thus maintaining and actually increasing value over time...in theory. What’s been interesting is how lately it seems to move along with the market. I would of thought that when the financial markets tanked, crypto would of gone up...but it didn’t.

2 thoughts here.

1. What if the fed buys up all the bitcoin when it tanks, effectively defuncting the market? And then they sit on it so the price is mlre regulated? What of they also create a ton of other cryto currency, effectively mudding the waters with investors who don't know what's going on?

2. What if bitcoin really does manuever around the U.S dollar and oil and becomes a steady currency? Who is to stop them from quantive easements just like the fed?

For these reasons, I am out on crypto.

 

[knoxville7]

2 thoughts here.

1. What if the fed buys up all the bitcoin when it tanks, effectively defuncting the market? And then they sit on it so the price is mlre regulated? What of they also create a ton of other cryto currency, effectively mudding the waters with investors who don't know what's going on?

2. What if bitcoin really does manuever around the U.S dollar and oil and becomes a steady currency? Who is to stop them from quantive easements just like the fed?

For these reasons, I am out on crypto.

that’s fine to be out on crypto. I wasn’t making a case to be in it. I have my own concerns regarding it. As far as QE type of manipulation, it’s not something that can be done...there is a finite amount of Bitcoin available. It’s more like real gold in that regard. With our currency, they can just print more...you can’t do that with bitcoin.

 

[MDB111™]

that’s fine to be out on crypto. I wasn’t making a case to be in it. I have my own concerns regarding it. As far as QE type of manipulation, it’s not something that can be done...there is a finite amount of Bitcoin available. It’s more like real gold in that regard. With our currency, they can just print more...you can’t do that with bitcoin.

Do you know why you can't? It just seems to me like one could create several million more bitcoins and add them to the computer algorithms.

They said paper dollars were backed by real gold, so you can't just print more money, but they did anyway.
Here is a quote from INvestopedia

Bitcoin is like gold in many ways. Like gold, bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of bitcoin that, like gold, it must have a limited and finite supply.


But they did print more money. They went absolutely against what they founded money on, so why not bitcoin?

 

[ijustposthere]

Do you know why you can't? It just seems to me like one could create several million more bitcoins and add them to the computer algorithms.

They said paper dollars were backed by real gold, so you can't just print more money, but they did anyway.
Here is a quote from INvestopedia

Bitcoin is like gold in many ways. Like gold, bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of bitcoin that, like gold, it must have a limited and finite supply.


But they did print more money. They went absolutely against what they founded money on, so why not bitcoin?

To be fair, it wasn't really until they went away from the gold standard that they started printing more money. At least at the levels we now see. From what I've been told, crypto-mining bitcoin seems to take a while now that so much of it has been mined I think. I honestly don't know much about it other than it caused the prices of gpus to go through the fucking roof and it took almost a year before I found one that was available at the price I was willing to pay.

 

[knoxville7]

Do you know why you can't? It just seems to me like one could create several million more bitcoins and add them to the computer algorithms.

They said paper dollars were backed by real gold, so you can't just print more money, but they did anyway.
Here is a quote from INvestopedia

Bitcoin is like gold in many ways. Like gold, bitcoin cannot simply be created arbitrarily. Gold must be mined out of the ground, and bitcoin must be mined via digital means. Linked with this process is the stipulation set forth by the founders of bitcoin that, like gold, it must have a limited and finite supply.


But they did print more money. They went absolutely against what they founded money on, so why not bitcoin?

Why the Future Belongs to Digital Assets

In DLT (distributed ledger technology), details of the transactions are recorded in multiple places called blocks. These blocks are then chained together on a shared network.

marketrealist.com

what happens when the last bitcoin is mined is something people are very curious about. According to predictions, that won’t occur until 2140, long after we are dead lol.

in theory, no more bitcoin could be added to the total due to the fact nobody really knows who started bitcoin. And since whomever started it will also be dead by 2140, it’s unlikely there will be someone that can alter that.

 

[knoxville7]

Anyone else noticing the range the market is stuck in? It’s been hanging out between DOW 23K and 24.2K. Every time it hits around that 24.2K mark, it struggles and dips a little. It seems like it keeps testing that level to the upside...and failing. its hit that mark like 4 times now, get ready for the drop to come

 

[Leomaz]

Something awfully weird, I just lost 15 grand overnight

 

[MDB111™]

Something awfully weird, I just lost 15 grand overnight

What lost you 15G overnight?

 

[Leomaz]

What lost you 15G overnight?

Yep....checking into things right now.

 

[ijustposthere]

Yep....checking into things right now.

You figure it out? I don't know what the hell dropped so far that could've cost you that.

 

[ijustposthere]

Anyone else noticing the range the market is stuck in? It’s been hanging out between DOW 23K and 24.2K. Every time it hits around that 24.2K mark, it struggles and dips a little. It seems like it keeps testing that level to the upside...and failing. its hit that mark like 4 times now, get ready for the drop to come

I upped my 401k contribution even more in anticipation honestly. Looks like it's going to get around that number again soon.

 

[Leomaz]

You figure it out? I don't know what the hell dropped so far that could've cost you that.

Yes, it was a mistake on my part. Sometimes I mis read shit and then I got to call my guy to make sure I’m not freaking out.

 

[ijustposthere]

Yes, it was a mistake on my part. Sometimes I mis read shit and then I got to call my guy to make sure I’m not freaking out.

I bet you shit a brick lol

 

[Leomaz]

I bet you shit a brick lol

I did. I get the occasional $1500-$2000 drops but holy crap did my heart sink.