Stock Market/Investing

[Crystallas]

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

Read the Satoshi white paper, decide for yourself.

Here's a copy: Bitcoin White Paper LIVE! | Financial Transaction | Public Key Cryptography | Free 30-day Trial | Scribd

 

[knoxville7]

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

yep, it flirted with that 24.2K mark again today. I wouldn’t be shocked to see a solid down day tomorrow(Friday), and/or Monday

 

[MDB111™]

I don't think it goes beneath 23,623.00. It's tested previous lows 5 times now and hasn't gone beneath the previous low.
My guess for tomorrow is minor down day if not damn near flat.

 

[knoxville7]

I don't think it goes beneath 23,623.00. It's tested previous lows 5 times now and hasn't gone beneath the previous low.
My guess for tomorrow is minor down day if not damn near flat.

oh, it’s absolutely going under that. its been under that recently when it was down around 23K like 2 weeks or so ago

 

[ijustposthere]

Testing that 24.2 K again.

 

[ijustposthere]

Read the Satoshi white paper, decide for yourself.

Here's a copy: Bitcoin White Paper LIVE! | Financial Transaction | Public Key Cryptography | Free 30-day Trial | Scribd

Do you mine it? Or any other crypto? Is that profitable?

 

[Crystallas]

Do you mine it? Or any other crypto? Is that profitable?

I got into crypto as it unfolded. All I needed to do was swap my folding compute power to bitcoin to dabble, then I took it more seriously later.

Profit is all a calculation. See, I know this is a thread mainly about investing, but one thing I don't get into is the investing side of cryptocurrencies. I only follow to utility side, the code, the math, the function. Investing is a separate argument, even though when done right, you can pretty much see returns that rival the historically best stock investments. Mining is a separate discussion too, you mine if you are interested, and people mine for various reasons. A lot of people mine just to secure the network. Every transaction has fees, the fees are recycled back into the mines as rewards, so bitcoin mining works forever as long as transactions are made. But if you read the white paper, you know this.

 

[knoxville7]

Testing that 24.2 K again.

and it just can’t break thru it

 

[Burque]

Anone else getting advertisements for Etoro and Coinbase apps? Apparently they are trying to make trading in crypto more attractive and easy?

 

[MDB111™]

Anone else getting advertisements for Etoro and Coinbase apps? Apparently they are trying to make trading in crypto more attractive and easy?

I am not getting those ads but coinbase is U.S based out of San Fran.
I have an account, but never purchased anything.
It was simple to sign up but I have heard when you want a withdraw, it's a pain in the ass.


At one point, the price was so volatile that you could be at the gas pump and the bitcoin price could be X and by the time you were done filling up, the price was X times 10.


Not sure it ever becomes a main staple in currency.

 

[Burque]

I am not getting those ads but coinbase is U.S based out of San Fran.
I have an account, but never purchased anything.
It was simple to sign up but I have heard when you want a withdraw, it's a pain in the ass.


At one point, the price was so volatile that you could be at the gas pump and the bitcoin price could be X and by the time you were done filling up, the price was X times 10.


Not sure it ever becomes a main staple in currency.

I dunno i have watched go crazy and watched it kick people in the teeth. I am under the impression that it isn't going to go away, so I may as well have a little skin in the game.

 

[MDB111™]

I dunno i have watched go crazy and watched it kick people in the teeth. I am under the impression that it isn't going to go away, so I may as well have a little skin in the game.

I don't think it's going away either. I just never got into...Don't understand it and think if it ever did get too big, the man would stomp it out if needed to keep muricas dollar top dog.

 

[Crystallas]

I am not getting those ads but coinbase is U.S based out of San Fran.
I have an account, but never purchased anything.
It was simple to sign up but I have heard when you want a withdraw, it's a pain in the ass.


At one point, the price was so volatile that you could be at the gas pump and the bitcoin price could be X and by the time you were done filling up, the price was X times 10.


Not sure it ever becomes a main staple in currency.

Lots of misinformation. But it's true, you need to know how to use it, before you use it, which is a tricky deal.

 

[Hawkeye OG]

So, the market drops below 20.0 once Q2 earnings start coming out right?

I've cooled on dumping any extra money in right now, just my normal bi-weekly contributions. I just don't see how it doesn't take a nose dive soon.

 

[ijustposthere]

I got into crypto as it unfolded. All I needed to do was swap my folding compute power to bitcoin to dabble, then I took it more seriously later.

Profit is all a calculation. See, I know this is a thread mainly about investing, but one thing I don't get into is the investing side of cryptocurrencies. I only follow to utility side, the code, the math, the function. Investing is a separate argument, even though when done right, you can pretty much see returns that rival the historically best stock investments. Mining is a separate discussion too, you mine if you are interested, and people mine for various reasons. A lot of people mine just to secure the network. Every transaction has fees, the fees are recycled back into the mines as rewards, so bitcoin mining works forever as long as transactions are made. But if you read the white paper, you know this.

I read it, but I just don't really comprehend what I read in the paper. All I really understood is the chain makes it difficult to forge. Pretty much anything that gets into technical aspects of computing I have a difficult time following.

 

[ijustposthere]

So, the market drops below 20.0 once Q2 earnings start coming out right?

I've cooled on dumping any extra money in right now, just my normal bi-weekly contributions. I just don't see how it doesn't take a nose dive soon.

I don't know, not really with the Fed seemingly taking on all the risk right now. We might not feel this until at a later date. Like when the money the Fed is throwing out comes due. They pretty much completely eliminated the free market IMO. If they didn't jump in though, there's probably mass bankruptcies and even worse jobless numbers. Catch-22 IMO. I'm with you though, doing my normal contributions (mine are weekly) and saving cash. It just seems like a crash has to happen to even everything out.

 

[Hawkeye OG]

I don't know, not really with the Fed seemingly taking on all the risk right now. We might not feel this until at a later date. Like when the money the Fed is throwing out comes due. They pretty much completely eliminated the free market IMO. If they didn't jump in though, there's probably mass bankruptcies and even worse jobless numbers. Catch-22 IMO. I'm with you though, doing my normal contributions (mine are weekly) and saving cash. It just seems like a crash has to happen to even everything out.

Now I'm wishing I had dumped more in when it was hovering around 19k, but I though surely it'd go lower lol. This is a prime example of why the stock market is not an indicator of the economy, Mr Trump. 20 million people out of work, companies losing money hand over fist and the DOW goes up?

 

[ijustposthere]

Now I'm wishing I had dumped more in when it was hovering around 19k, but I though surely it'd go lower lol. This is a prime example of why the stock market is not an indicator of the economy, Mr Trump. 20 million people out of work, companies losing money hand over fist and the DOW goes up?

I dumped in everything I could afford as soon as it dipped under 20k. That's when the Fed announced QE infinity, and it's done nothing but go up since. Now they're buying junk bonds. This is why Buffet isn't buying anything. He said the calls stopped once the Fed jumped in. My question is what happens when we have to raise interest rates again? Or when the Fed stops the QE?

 

[MDB111™]

I don't know, not really with the Fed seemingly taking on all the risk right now. We might not feel this until at a later date. Like when the money the Fed is throwing out comes due. They pretty much completely eliminated the free market IMO. If they didn't jump in though, there's probably mass bankruptcies and even worse jobless numbers. Catch-22 IMO. I'm with you though, doing my normal contributions (mine are weekly) and saving cash. It just seems like a crash has to happen to even everything out.

IMO, the bottom has hit back in March. The market will break through resistance that knoxville has talked about this week(maybe by wed.)
But you will see volatility. The market is halfway rallied back ready.
By the fall, it shoul be ready to flirt with those ATHs again. But if another lockdown happens? rinse, repeat. Only this time, you can pull your money out prior like all those senators did.
Buy on low dip days. Don't worry and good luck!

 

[ijustposthere]

IMO, the bottom has hit back in March. The market will break through resistance that knoxville has talked about this week(maybe by wed.)
But you will see volatility. The market is halfway rallied back ready.
By the fall, it shoul be ready to flirt with those ATHs again. But if another lockdown happens? rinse, repeat. Only this time, you can pull your money out prior like all those senators did.
Buy on low dip days. Don't worry and good luck!

I think if it approaches those highs again, I'll pull back on my 401k contributions. Right now I'm up to about 15%, but I'm also maxing out my HSA and Roth on top of that. I'll probably pull back to around 10% while continuing to max out the Roth and HSA. Probably use the extra cash on my individual investment account. I did everything I could to take advantage of when it went under 20k.