how would one go about investing in the bidet industry? asking for a friend
With the market on its way down, do you guys plan on investing in stocks or buying property? IDK i wanna hear your guys's imput :P
Expand QuoteExpand QuoteWith the market on its way down, do you guys plan on investing in stocks or buying property? IDK i wanna hear your guys's imput :P[close]
A few more rental properties to add to the portfolio and hopefully a section over at the mountain so I can build a winter house in time for next years winter season. I’m in New Zealand though so might be different wherever you are.[close]
People who do this kinda thing are disgusting and should commit suicide
Just go back to complaining about your government not giving you money quick enough
I'm a rookie who wants to start buying cheap stock. Should I just open a Charles Schwab or E-Trade type account?
So Dave Ramsey seems to be a person who gives much advice in personal finance. I don't exactly agree with his 1 size fits all approach to finance. Are there others who find flaws in his "steps" or is it just me?
Wanted to share first experience dealing with stocks. Charles Schwab legit & perfect for rookies like myself. Recently bought 10 shares of Nikola @ $30/share. Held high hopes + expectations for this hydrogen fuel cell start up auto company. GM invested 2 billion & Republic Services (2nd largest trash company) held an agreement with Nikola to supply dump trucks in a couple years. Their consumer truck The Badger looked fantastic with good stats set to release next year.
As soon as I invested, scandal around the corner. Allegations of fraud , the ceo/founder leaving the company , & seems like every week a new negative event brought up in the news. As soon as things went south, sold asap. Luckily only lost $40 in all .Stock trading at $19/share now. Pretty bummed, thought this company gonna be legit. Fun experience checking stock price every morning. Long before I invested, Nikola traded as high as $90 back in June.
Also recently read a book about Theranos called Bad Blood. Quick overview if you haven't heard, Elizabeth Holmes claimed to create super innovative blood test machine that only requires a few drops of blood. Complete fraud. She fooled so many people, investors , gvt officials, & even Walgreens to sign a big contract. Shes actually in the early phase of her trial right now. Just blows my mind after Enron, all this fraud still happening today on a huge scale.
Wanted to share first experience dealing with stocks. Charles Schwab legit & perfect for rookies like myself. Recently bought 10 shares of Nikola @ $30/share. Held high hopes + expectations for this hydrogen fuel cell start up auto company. GM invested 2 billion & Republic Services (2nd largest trash company) held an agreement with Nikola to supply dump trucks in a couple years. Their consumer truck The Badger looked fantastic with good stats set to release next year.
As soon as I invested, scandal around the corner. Allegations of fraud , the ceo/founder leaving the company , & seems like every week a new negative event brought up in the news. As soon as things went south, sold asap. Luckily only lost $40 in all .Stock trading at $19/share now. Pretty bummed, thought this company gonna be legit. Fun experience checking stock price every morning. Long before I invested, Nikola traded as high as $90 back in June.
Also recently read a book about Theranos called Bad Blood. Quick overview if you haven't heard, Elizabeth Holmes claimed to create super innovative blood test machine that only requires a few drops of blood. Complete fraud. She fooled so many people, investors , gvt officials, & even Walgreens to sign a big contract. Shes actually in the early phase of her trial right now. Just blows my mind after Enron, all this fraud still happening today on a huge scale.
If you don't know what you're doing or don't want to put in the research hours, get yourself an advisor you trust. We've had ours for about ten years and she is solid. A good advisor won't make you, "Wolf of Wall Street" rich overnight, but they will move your assets around in accordance with the market and set you up for the long term. ETFs are normally the way to go with a flyer here or there.
Expand QuoteIf you don't know what you're doing or don't want to put in the research hours, get yourself an advisor you trust. We've had ours for about ten years and she is solid. A good advisor won't make you, "Wolf of Wall Street" rich overnight, but they will move your assets around in accordance with the market and set you up for the long term. ETFs are normally the way to go with a flyer here or there.[close]
Bump, I know bumping an old thread is like shouting into a void sometimes but I just wanted to ask -- I've been thinking about finding an advisor myself but some finance authors say that they're expensive and unnecessary. Yours is obviously working for you, did you try to do research yourself but found that an advisor is way more helpful and worth the cost? I honestly don't know whether to do it all myself or to go through an advisor. I'm reading books and trying to educate myself more but it feels overwhelming at times.
Expand Quote805 - 953 - 8938Expand QuoteIf you don't know what you're doing or don't want to put in the research hours, get yourself an advisor you trust. We've had ours for about ten years and she is solid. A good advisor won't make you, "Wolf of Wall Street" rich overnight, but they will move your assets around in accordance with the market and set you up for the long term. ETFs are normally the way to go with a flyer here or there.[close]
Bump, I know bumping an old thread is like shouting into a void sometimes but I just wanted to ask -- I've been thinking about finding an advisor myself but some finance authors say that they're expensive and unnecessary. Yours is obviously working for you, did you try to do research yourself but found that an advisor is way more helpful and worth the cost? I honestly don't know whether to do it all myself or to go through an advisor. I'm reading books and trying to educate myself more but it feels overwhelming at times.[close]
You can textmr EdMickey Taylor. He’s super smart
i'm going all in on tulip bulbs
i'm going all in on land. if you've got water and soil you can sustain yourself. there are conveniences and other things you can't DIY so i'm looking to get into crypto and i couldn't find their stock number but Gab is liable to go through the roof after the conservative purge on twitter and fb. other than that, i don't have any hot stocks to recommend.Expand Quotei'm going all in on tulip bulbs[close]
Diversify your bulbs digga’.
I really want to invest in water and agriculture but unsure how to do so if anyone has tips.Focus on water. It's really easy research and a lot is pretty affordable. But if you got Hella skill American water works, but it's pricey.
Bump. Been doing tons of research the past few days about how to get started, and have learned a lot, but still feel like I’m at square one. Looked into Bitcoin but the two main trading apps for it, Binance and Coinbase, have either been flooded with bad reviews recently or just seem over complicated for a newbie like me. Looked into Wealthsimple as a trading platform, and while they seem super legit, I’m still a little wary about throwing out my SSN.
Also considering trading through my bank, but not sure if it’s worth the extra cost vs using an app. I know there’s countless ways to go about it, I just don’t know which to choose. I only want to put a couple hundred into something with good long term growth, like the S&P or ARKK or something similar to get my foot in the door, then eventually get more involved.
what's wrong w/ longterm investments in robin hood?Expand QuoteBump. Been doing tons of research the past few days about how to get started, and have learned a lot, but still feel like I’m at square one. Looked into Bitcoin but the two main trading apps for it, Binance and Coinbase, have either been flooded with bad reviews recently or just seem over complicated for a newbie like me. Looked into Wealthsimple as a trading platform, and while they seem super legit, I’m still a little wary about throwing out my SSN.
Also considering trading through my bank, but not sure if it’s worth the extra cost vs using an app. I know there’s countless ways to go about it, I just don’t know which to choose. I only want to put a couple hundred into something with good long term growth, like the S&P or ARKK or something similar to get my foot in the door, then eventually get more involved.[close]
Since you're just getting started, I'd suggest Cashapp for BTC. Instant buys and withdrawals. Once you get more into it, check out legit exchanges such as Coinbase Pro, Gemini, Kraken, etc. if you want to move into other cryptos and divesify.
Robinhood is super simple for stocks too. I wouldn't suggest keeping long term holds on there though. Use a legit brokerage if you want to build up long term investments. Schwab, TD, Fidelity, etc. are all easy to sign up and get started.
Every legit brokerage requires personal information to sign up and there are no ways around it (for traditional investing).
Look into opening a Roth IRA if your looking to build a long term, tax advantaged investment for retirement. I max mine out every year with a target date index fund that pretty much tracks the S&P growth. When I retire, I won't pay any tax on the gains.
what's wrong w/ longterm investments in robin hood?Expand QuoteExpand QuoteBump. Been doing tons of research the past few days about how to get started, and have learned a lot, but still feel like I’m at square one. Looked into Bitcoin but the two main trading apps for it, Binance and Coinbase, have either been flooded with bad reviews recently or just seem over complicated for a newbie like me. Looked into Wealthsimple as a trading platform, and while they seem super legit, I’m still a little wary about throwing out my SSN.
Also considering trading through my bank, but not sure if it’s worth the extra cost vs using an app. I know there’s countless ways to go about it, I just don’t know which to choose. I only want to put a couple hundred into something with good long term growth, like the S&P or ARKK or something similar to get my foot in the door, then eventually get more involved.[close]
Since you're just getting started, I'd suggest Cashapp for BTC. Instant buys and withdrawals. Once you get more into it, check out legit exchanges such as Coinbase Pro, Gemini, Kraken, etc. if you want to move into other cryptos and divesify.
Robinhood is super simple for stocks too. I wouldn't suggest keeping long term holds on there though. Use a legit brokerage if you want to build up long term investments. Schwab, TD, Fidelity, etc. are all easy to sign up and get started.
Every legit brokerage requires personal information to sign up and there are no ways around it (for traditional investing).
Look into opening a Roth IRA if your looking to build a long term, tax advantaged investment for retirement. I max mine out every year with a target date index fund that pretty much tracks the S&P growth. When I retire, I won't pay any tax on the gains.[close]
what about sofi?
Anyone else throw money into some bullshit cryptocurrency and lose the password? I have some ripple sitting in a wallet that will never be used. Whoops. I thought me and the ex wrote down all the info correctly but apparently not.
Like the rest of the made up currencies it is worthless but man it'll suck if that shit is worth real money in 5 to 10 years and I'm sitting on a few million that I can't access.
As for the real stock market, this shit feels like a casino.
What app do you use or recommend for WSB type trading? I don’t think it’s wise for me to jump into that game yet, but man hearing stories like your neighbour’s makes me want to. I wish I had my debt down/savings up more before getting into this stuff, the FOMO is real ha.
I initially used Wealthsimple to buy my first $50 worth of BTC, but then I wanted to buy another $50 and decided waiting 5 days for deposits is ridiculous so I pulled out. Downloaded Newton because I read good things, but it’s down now due high activity, which is unacceptable when you want to buy on a dip. Just got Shakepay and was able to deposit/buy within minutes.
AMC and Gamestop stocks are on fire lately. Gamestop is up 1000% in a few days. Heavily shorted stocks and very risky.
Put money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.probably won’t happen but it could open at lower than your stop loss, has happened to me before.
probably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close]
Expand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.
Expand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license
2 days in and im up 300% on GameStop, bring in the money :)heard they intend to bring it up to 1000$, I wonder if they can pull that off
going to the moon :-*
heard they intend to bring it up to 1000$, I wonder if they can pull that offExpand Quote2 days in and im up 300% on GameStop, bring in the money :)
going to the moon :-*[close]
Expand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license
This wallstreetbets discord just broke I think
Lots of AMC and GME talk.
I just cashed out my GME and may try to ride the AMC wave
Expand QuoteExpand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license[close]
Yea, I imagine the apps want the SSN for the IRS and other legal issues.
I'm sure how to get around. If you can't get a SSN (and live in the States) can you get a tax identification number?
Expand QuoteExpand QuoteExpand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license[close]
Yea, I imagine the apps want the SSN for the IRS and other legal issues.
I'm sure how to get around. If you can't get a SSN (and live in the States) can you get a tax identification number?[close]
not fast enough to put my life savings in blackberry tomorrow
Expand QuoteExpand QuoteExpand QuoteExpand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license[close]
Yea, I imagine the apps want the SSN for the IRS and other legal issues.
I'm sure how to get around. If you can't get a SSN (and live in the States) can you get a tax identification number?[close]
not fast enough to put my life savings in blackberry tomorrow[close]
my blackberry stock has moved up 47% since monday, hope for moooooore
Expand QuoteExpand QuoteExpand QuoteExpand QuoteExpand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license[close]
Yea, I imagine the apps want the SSN for the IRS and other legal issues.
I'm sure how to get around. If you can't get a SSN (and live in the States) can you get a tax identification number?[close]
not fast enough to put my life savings in blackberry tomorrow[close]
my blackberry stock has moved up 47% since monday, hope for moooooore[close]
That after hours dip was pretty gnarly for BB, but I'm hoping we keep moving along here.
I'm hoping the irrationality of the average person shoots GME, AMC, and BB up even more. One of the kids I work with has made some money on AMC.
I still don't see how GME has a value over 25 cents since don't most people just download games now anyway? What the hell are they going to sell? How many people are like me and never upgraded systems after the PS2 and have to go to Goodwill to get new games? I feel it is like betting on GME is like betting on Blockbuster in the age of Netflix.
My portfolio was up 7% in the morning for the day and now it showing down 4%.. such a swing.do you ever take spending $ out? i'd like to have long term but also have others that i eat off of.
Overall im up 54% since I started in July
do you ever take spending $ out? i'd like to have long term but also have others that i eat off of.Expand QuoteMy portfolio was up 7% in the morning for the day and now it showing down 4%.. such a swing.
Overall im up 54% since I started in July[close]
i already got the free RH stock. here's my sofi, free $50 to play w/. https://www.sofi.com/share/invest/3629967?src=copyExpand Quotedo you ever take spending $ out? i'd like to have long term but also have others that i eat off of.Expand QuoteMy portfolio was up 7% in the morning for the day and now it showing down 4%.. such a swing.
Overall im up 54% since I started in July[close][close]
What do you mean?
All the money I have isnt in there.
The money I spend with is in my savings in my bank account. The money I have in stocks I keep in there, not taking it out for living expenses.. Its tax advantageous to not sell in less than a year due to short term capitol gains tax.
(Heres my Robinhood link: https://join.robinhood.com/eleazap39 , if you decide to sign up youll get a free stock.)
Expand QuoteExpand QuoteExpand Quoteprobably won’t happen but it could open at lower than your stop loss, has happened to me before.Expand QuotePut money on AMC this morning at $13.44 and it closed at around $19 today. Put a stop loss on it like a bitch so I can't lose any money, but hoping to see it keep climbing.[close][close]
Very true. That's alright if it does. Didn't put too much on it. Just wanted to potentially run it up.
And straight, I just used Robinhood. I signed up the night before and although it takes about 5 days for bank funds to go through, they gave me an immediate amount I was able to buy with, so I just used that.[close]
how though? do you have a ssn card? it’s asking me for that and all i have is a drivers license[close]
Yea, I imagine the apps want the SSN for the IRS and other legal issues.
I'm sure how to get around. If you can't get a SSN (and live in the States) can you get a tax identification number?
@cky enthusiast - Valid points! I definitely don’t think I’m smarter than any career investors, but it’s a pipe dream of mine to one day be okay at it and not have to work my shitty low paying construction job until I’m cripple. It’s funny because I’ve always been pretty anti-gambling, but there’s money to be made out there with research and little luck. As long as you never invest more than you can comfortably lose. Again, I know there’s more to learn than I possibly ever could.
I totally agree that index funds are the best long term option, it’s just the gains are so small it’s basically just a savings account. I threw 50 into a roboadvisor app and my money actually went down over a couple weeks. I wasn’t expecting immediate gains but man, pretty discouraging.
@Chatbot - I’m sorry, I’ve tried to look up info on Options trading but struggled to make sense of it. Can you explain in dumbass terms? Is it possible to lose more than you put in with options? I assumed I could throw a little coin in, and worst case I lose it, best case I multiply it.. but if I’m way off please let me know.
i'm leveraging up for a hostile takeover of krux truck
Alexa, play "Arise!" by Amebix 8)
So bummed Robinhood isn’t available in Canada. Every app I’ve found that I could’ve potentially bought GME with either has ridiculous waits for deposits or huge minimums. It’s awesome that this is happening, just sucks to miss the boat. Hopefully the billionaires don’t force government to blatantly rig the market in their favour, and prevent future GME-type movements to happen before I can get a slice.
Robinhood just blocked being able to buy gme n shit, this is getting insane. You are witnessing history people.
Boy, those guys sure are playing dirty today
Was able to get some AMC and blackberry today. Ameritrade seems to be allowing buys for everything.
I was reading that Robinhood has some ties to the fund that was shorting GME, hence the attempt at market manipulation.
Next couple days should be interesting.
So bummed Robinhood isn’t available in Canada. Every app I’ve found that I could’ve potentially bought GME with either has ridiculous waits for deposits or huge minimums. It’s awesome that this is happening, just sucks to miss the boat. Hopefully the billionaires don’t force government to blatantly rig the market in their favour, and prevent future GME-type movements to happen before I can get a slice.Did you try Qtrade?
https://www.instagram.com/p/CKmb1gTDniZ/
Invest in Dogecoin right now. At 6pm today I put in $75 and it's sitting at around $190 rn four later. It's projected to hit $1 here in the coming months.
Has anyone from GameStop commented on this or are they just out looking for new yachts?
I can only imagine what their board meetings look like right now.
Expand QuoteInvest in Dogecoin right now. At 6pm today I put in $75 and it's sitting at around $190 rn four later. It's projected to hit $1 here in the coming months.[close]
For dogecoin to reach a dollar it'll have to pass BTC marketcap. I don't see that happening even in this clown market. Also, we're in 2017 hype levels right now in stocks and crypto so be careful chasing these pumps and dumps.
Expand QuoteNot super savvy when it comes to stonks and those whole GME fiasco.
Is there a chance the hedge funds with all their power and influence will someone get outta this one? Or are their fates sealed? What kind of ramifications can we expect after this? Will restrictions be implemented to keep the average joe from doing this kind of thing again? Obviously the hedge funds want to keep the status quo and keep the markets in their favour.[close]
This might answer your question.
Quote taken from WSB:
" " " "
Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week.
Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work.
Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear.
Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570.
At approximately 9:58 am, the stock had reached $468 in a parabolic move.
Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling.
The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in.
Okay, now that you are clear on the facts, understand this: The market ran out of liquidity today, or was threatening to get close enough that they killed it. What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market.
I saw an unsubstantiated post from a user (u/zshub) who said a market sell order executed at $2600 for him. Do you get the severity of the situation, if that's true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid.
How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is.
Listen to this to this remarkable (if infuriating) interview where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"? Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that.
It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound.
" " " "
Been in crypto for a little while now and still think Ethereum is very undervalued. I'm invested in Uniswap, which is a decentralized trading platform, and it doubled this week because of people wanting to get away from centralized finance. I think it will continue to grow in huge ways.
Also, if you get into crypto, just don't panic sell when things drop 30-40% in a day. It's part of the game. Blockchain technology is the future and it's still early to get involved. Don't look to Bitcoin as a way to make quick money. It will keep growing, but at this point you won't make 5-10x gains in the short term. Research the altcoins that have potential. There's lots of hype around it, but Polka Dot is one project tons of people are optimistic for the long haul. I'm very optimistic on Cardano and Vecahin as well. Heavily invested in those 2.
Also, not trying to be a shill, but if anyone wants to sign up on Gemini to start in crypto, let me know and I'll give you a code where we each get $10 in Bitcoin. That's not some scammy push, just free money if you are interested.
I was too late to get on with it, but thats the biggest fuck off to capitalism in the last years. it shows how fucked up the capitalist system is and that they do not want everybody on there investing and trying to manipulate the market as bigger fonds already have done. its abstruse. so ironic that robinhood had a slogan saying they would democratize the stock market. fuck faces.
Been in crypto for a little while now and still think Ethereum is very undervalued. I'm invested in Uniswap, which is a decentralized trading platform, and it doubled this week because of people wanting to get away from centralized finance. I think it will continue to grow in huge ways.
Also, if you get into crypto, just don't panic sell when things drop 30-40% in a day. It's part of the game. Blockchain technology is the future and it's still early to get involved. Don't look to Bitcoin as a way to make quick money. It will keep growing, but at this point you won't make 5-10x gains in the short term. Research the altcoins that have potential. There's lots of hype around it, but Polka Dot is one project tons of people are optimistic for the long haul. I'm very optimistic on Cardano and Vecahin as well. Heavily invested in those 2.
Also, not trying to be a shill, but if anyone wants to sign up on Gemini to start in crypto, let me know and I'll give you a code where we each get $10 in Bitcoin. That's not some scammy push, just free money if you are interested.
Expand QuoteBeen in crypto for a little while now and still think Ethereum is very undervalued. I'm invested in Uniswap, which is a decentralized trading platform, and it doubled this week because of people wanting to get away from centralized finance. I think it will continue to grow in huge ways.
Also, if you get into crypto, just don't panic sell when things drop 30-40% in a day. It's part of the game. Blockchain technology is the future and it's still early to get involved. Don't look to Bitcoin as a way to make quick money. It will keep growing, but at this point you won't make 5-10x gains in the short term. Research the altcoins that have potential. There's lots of hype around it, but Polka Dot is one project tons of people are optimistic for the long haul. I'm very optimistic on Cardano and Vecahin as well. Heavily invested in those 2.
Also, not trying to be a shill, but if anyone wants to sign up on Gemini to start in crypto, let me know and I'll give you a code where we each get $10 in Bitcoin. That's not some scammy push, just free money if you are interested.[close]
Everyone who used Uniswap prior to September got 400 tokens for free which was pretty cool. But if you look at the top holders on Etherscan, there's millions still waiting to be dumped.
Currently, there are 287,148,684 / 1,000,000,000 tokens circulating. The rest are locked up and will be released during certain periods. I have no doubt in my mind there will be big dumps when this occurs as the market gets diluted. It's also just a governance token which doesn't actually mean anything unless you hold a shit ton. At least ETHs value comes from being able to build off it but also has it's downside with gas fees. Using Uniswap efficiently right now it's going to cost you high fees. I've seen screenshots upwards to $100. Also, 90% of the projects on there are scams and everyone jumping in thinking they'll make it get the rug pulled on them eventually.
To compare supply to the hyped Dogecoin. Doge literally has an infinity supply. It's ridiculous when people say it will go up to a dollar. Bitcoins value is due to it's scarcity of only 21mil max where >80% are already circulating. Also trust in the network for 10+ years with no hacks.
I've been in this game long enough to see when people start throwing out bullshit numbers like the next 10 or 20x, most likely it's a lie. They just want you to pump and buy their bags. Also, seeing a bunch of random people I know, especially skateboarders talking about crypto, we have to be approaching the top.
I don't want to scare anyone away and I'm not saying there isn't money to be made but 90% of crypto is bullshit for real use cases. Full of false promises too. Just need to think if a project is even necessary. Why would a company use someone else's blockchain when they can just create their own private one in house? Also, if your just trying to make a quick buck and don't care about the long term goals, don't buy something that just pumped 500% in a day.
Expand QuoteExpand QuoteBeen in crypto for a little while now and still think Ethereum is very undervalued. I'm invested in Uniswap, which is a decentralized trading platform, and it doubled this week because of people wanting to get away from centralized finance. I think it will continue to grow in huge ways.
Also, if you get into crypto, just don't panic sell when things drop 30-40% in a day. It's part of the game. Blockchain technology is the future and it's still early to get involved. Don't look to Bitcoin as a way to make quick money. It will keep growing, but at this point you won't make 5-10x gains in the short term. Research the altcoins that have potential. There's lots of hype around it, but Polka Dot is one project tons of people are optimistic for the long haul. I'm very optimistic on Cardano and Vecahin as well. Heavily invested in those 2.
Also, not trying to be a shill, but if anyone wants to sign up on Gemini to start in crypto, let me know and I'll give you a code where we each get $10 in Bitcoin. That's not some scammy push, just free money if you are interested.[close]
Everyone who used Uniswap prior to September got 400 tokens for free which was pretty cool. But if you look at the top holders on Etherscan, there's millions still waiting to be dumped.
Currently, there are 287,148,684 / 1,000,000,000 tokens circulating. The rest are locked up and will be released during certain periods. I have no doubt in my mind there will be big dumps when this occurs as the market gets diluted. It's also just a governance token which doesn't actually mean anything unless you hold a shit ton. At least ETHs value comes from being able to build off it but also has it's downside with gas fees. Using Uniswap efficiently right now it's going to cost you high fees. I've seen screenshots upwards to $100. Also, 90% of the projects on there are scams and everyone jumping in thinking they'll make it get the rug pulled on them eventually.
To compare supply to the hyped Dogecoin. Doge literally has an infinity supply. It's ridiculous when people say it will go up to a dollar. Bitcoins value is due to it's scarcity of only 21mil max where >80% are already circulating. Also trust in the network for 10+ years with no hacks.
I've been in this game long enough to see when people start throwing out bullshit numbers like the next 10 or 20x, most likely it's a lie. They just want you to pump and buy their bags. Also, seeing a bunch of random people I know, especially skateboarders talking about crypto, we have to be approaching the top.
I don't want to scare anyone away and I'm not saying there isn't money to be made but 90% of crypto is bullshit for real use cases. Full of false promises too. Just need to think if a project is even necessary. Why would a company use someone else's blockchain when they can just create their own private one in house? Also, if your just trying to make a quick buck and don't care about the long term goals, don't buy something that just pumped 500% in a day.[close]
Didn't mention Dogecoin once in my post. Agree tons of coins are bullshit, but literally every one of the projects I mentioned and invest in are projects doing big things that solve real issues. You don't have to agree with them, but they are ones I've researched and fully believe in.
And if you've followed Etheruem, the high gas fees isn't some secret. It's been a huge issue they're working and launching ETH 2 in the next week. The amount of platforms that will be using ETH in this year is massive.
And again, didn't buy Dogecoin or mention it and literally everything I said was about long term and not trying to make a quick buck and warned about the volatility. Would be nice if people actually read posts before just jump in ready to attack people.
Invest in Dogecoin right now. At 6pm today I put in $75 and it's sitting at around $190 rn four later. It's projected to hit $1 here in the coming months.
Before we all get too excited about fucking over hedge funds by investing in plastic dog turds, it's probably worth mentioning that most hedge funds are investing on behalf of other people.
Its quite likely that your 401k or pension fund is being managed by a hedge fund.
Its also worth noting that when hedge funds are forced to liquidate/manage positions due to r/wallstreetbets shenanigans, it doesn tjust affect the stock being pumped. It affects their other positions as well.
I lost on Google etc, even though it had nothing to do with gme/amc.
Still, it's going to be very entertaining watching this play out Just bought the dip on dogecoin for a laugh and have bought some xrp in preparation for the planned pump on Monday.
Yolo. HODL. Etc.
Expand QuoteExpand QuoteExpand QuoteBeen in crypto for a little while now and still think Ethereum is very undervalued. I'm invested in Uniswap, which is a decentralized trading platform, and it doubled this week because of people wanting to get away from centralized finance. I think it will continue to grow in huge ways.
Also, if you get into crypto, just don't panic sell when things drop 30-40% in a day. It's part of the game. Blockchain technology is the future and it's still early to get involved. Don't look to Bitcoin as a way to make quick money. It will keep growing, but at this point you won't make 5-10x gains in the short term. Research the altcoins that have potential. There's lots of hype around it, but Polka Dot is one project tons of people are optimistic for the long haul. I'm very optimistic on Cardano and Vecahin as well. Heavily invested in those 2.
Also, not trying to be a shill, but if anyone wants to sign up on Gemini to start in crypto, let me know and I'll give you a code where we each get $10 in Bitcoin. That's not some scammy push, just free money if you are interested.[close]
Everyone who used Uniswap prior to September got 400 tokens for free which was pretty cool. But if you look at the top holders on Etherscan, there's millions still waiting to be dumped.
Currently, there are 287,148,684 / 1,000,000,000 tokens circulating. The rest are locked up and will be released during certain periods. I have no doubt in my mind there will be big dumps when this occurs as the market gets diluted. It's also just a governance token which doesn't actually mean anything unless you hold a shit ton. At least ETHs value comes from being able to build off it but also has it's downside with gas fees. Using Uniswap efficiently right now it's going to cost you high fees. I've seen screenshots upwards to $100. Also, 90% of the projects on there are scams and everyone jumping in thinking they'll make it get the rug pulled on them eventually.
To compare supply to the hyped Dogecoin. Doge literally has an infinity supply. It's ridiculous when people say it will go up to a dollar. Bitcoins value is due to it's scarcity of only 21mil max where >80% are already circulating. Also trust in the network for 10+ years with no hacks.
I've been in this game long enough to see when people start throwing out bullshit numbers like the next 10 or 20x, most likely it's a lie. They just want you to pump and buy their bags. Also, seeing a bunch of random people I know, especially skateboarders talking about crypto, we have to be approaching the top.
I don't want to scare anyone away and I'm not saying there isn't money to be made but 90% of crypto is bullshit for real use cases. Full of false promises too. Just need to think if a project is even necessary. Why would a company use someone else's blockchain when they can just create their own private one in house? Also, if your just trying to make a quick buck and don't care about the long term goals, don't buy something that just pumped 500% in a day.[close]
Didn't mention Dogecoin once in my post. Agree tons of coins are bullshit, but literally every one of the projects I mentioned and invest in are projects doing big things that solve real issues. You don't have to agree with them, but they are ones I've researched and fully believe in.
And if you've followed Etheruem, the high gas fees isn't some secret. It's been a huge issue they're working and launching ETH 2 in the next week. The amount of platforms that will be using ETH in this year is massive.
And again, didn't buy Dogecoin or mention it and literally everything I said was about long term and not trying to make a quick buck and warned about the volatility. Would be nice if people actually read posts before just jump in ready to attack people.[close]
I didn't mean to attack you directly. I was just mentioning Doge as an example because that is what everyone is talking about recently. I didn't say you bought it or say the projects you mentioned weren't good either. I was trying to give insight that people need to look at the marketcap and overall supply of tokens as well as their usecases before jumping in. Also, to be cautious of when projects are claiming to be the next big thing.
And yes, you and me might know about the gas fees and whatnot but new buyers sure won't. New buyers also don't really look at the long term comparing to what people post online everytime a hype cycle comes around.
I agree that long term > short term for legit projects.
puts on horse head*
i know fuck all about pension & 401k's because i don't have them :(.
but Mouth is right that $GME can and is bringing down the overall market and i'm pretty sure that hits 401K's and eventually when the $GME trade goes bust, pensions..
this whole $GME thing has the potential to completely blow up the market the longer it goes on.
Expand Quoteputs on horse head*
i know fuck all about pension & 401k's because i don't have them :(.
but Mouth is right that $GME can and is bringing down the overall market and i'm pretty sure that hits 401K's and eventually when the $GME trade goes bust, pensions..
this whole $GME thing has the potential to completely blow up the market the longer it goes on.[close]
Bl0B,
I'm not sure I understand. Can you explain how this is bringing down the entire market?
From my perspective, the stock market is bullshit. One of my mutual funds has just continued to gain value despite the pandemic that is fucking normal people. The ticker amazingly enough is FOCKX. This shit offered a 43% return last year despite the pandemic. If millions of people losing their jobs doesn't affect the market as a whole, I don't think Melvin Capital having to get a loan from the owner of the Mets is going to matter in the long run.
But, like I said, I don't fully understand this shit, so if someone can explain it to me/us, that'd be awesome.
https://www.nasdaq.com/articles/gamestop-gme-and-the-stock-market%3A-what-it-means-for-everyday-investors-2021-01-29
Its also worth noting that when hedge funds are forced to liquidate/manage positions due to r/wallstreetbets shenanigans
From my perspective, the stock market is bullshit. One of my mutual funds has just continued to gain value despite the pandemic that is fucking normal people. The ticker amazingly enough is FOCKX. This shit offered a 43% return last year despite the pandemic. If millions of people losing their jobs doesn't affect the market as a whole, I don't think Melvin Capital having to get a loan from the owner of the Mets is going to matter in the long run.
But, like I said, I don't fully understand this shit, so if someone can explain it to me/us, that'd be awesome.
https://www.nasdaq.com/articles/gamestop-gme-and-the-stock-market%3A-what-it-means-for-everyday-investors-2021-01-29
I think it’s more that this much volatility in the market makes people nervous and sell their stock.
From my very basic understanding :
The hedge fund has to buy back the now super expensive stock they borrowed to short the company. So they need a lot of cash or they will be liquidated?
yeah, kinda. so like Mouth is saying here.Expand QuoteIts also worth noting that when hedge funds are forced to liquidate/manage positions due to r/wallstreetbets shenanigans[close]
But it seems like that’s the catch... especially right now with how much of an impact social media has. It’s crazy to think a year ago (i think? Not sure when gme started it’s rise) game stop was i believe on the verge of bankruptcy, no? now here we are.
I’m trying to think long term, but damn it’s hard not to bite on the hot hand. I put some away for nok and amc both on cash app. Robinhood I’m gonna let it play out and see what happens before moving to another app..
Another factor that can have a big impact are bots, which now make up the majority of market trading. When the volitily resulting from gme etc starts triggering their algos, it can lead to a vicious cycle of destabilisation with far-reaching effects.
Still, I'm all for r/wallstreetbets. Going to be interesting to see how things play out next week.
Expand QuoteAnother factor that can have a big impact are bots, which now make up the majority of market trading. When the volitily resulting from gme etc starts triggering their algos, it can lead to a vicious cycle of destabilisation with far-reaching effects.
Still, I'm all for r/wallstreetbets. Going to be interesting to see how things play out next week.[close]
Great point.
Wsb is over 7 million people now in not that long of a period too. As they project what to invest in next, that number is going to rise incredibly (I'd assume with all the attention).
At some point I'd expect 1)illegal regulations 2)a hedgefund manager gets made a example ie Bernie madoff 3)class warfare and this doubles down hard
4)all of the above
I think a lot of people are going to end up losing a lot of money on gme
I think a lot of people are going to end up losing a lot of money on gme and then the masses will move on from wallstreetbets, as they should. Fun while it lasts though.
Dogecoin is just a meme where if you bought low you should sell it it ever goes up crazy to make money. GME actually has value behind it with the shorts.Expand QuoteI think a lot of people are going to end up losing a lot of money on gme[close]
I'll be blown away if it exceeds $400. It already seems as if it's deflating. Same with Dogecoin.
I've had Robinhood downloaded for like 2 years and never used it. Always thought about putting in 10 or 20 bucks but know trying to beat the market is dumb. Today I just said screw it, I'll throw in $40 to buy 3 AMC stock and see if these fuckers do it again. Gambling isn't my thing and if I ever go to a casino I give myself and my girlfriend a $20 so I don't feel bad about throwing this $40 in.
Bought a couple of GME stocks just from following it for too long and getting FOMO. Feel like an idiot already but fuck it, we'll see what happens.I'm with you man. Just gonna ignore it til it either explodes or my money has evaporated.
Anyone invested in renewable energy? Sounds like a more sensible option.
As I was typing this out I wonder what we be a safer bet... playing the 33% odds of betting on the first set of numbers on the roulette table ($100 turns to $300 if this hits) or betting $100 GME and hoping for "the moon"?
The thing with that strategy though is you're pretty much guaranteed to win as long as you can keep doubling your money. He would've eventually won and recouped all his losses, plus $25.
Free $25 dollars though. But yeah I assumed casinos would have some way of stopping that otherwise pros would just be spamming roulette tables racking up money in incremental amounts
“J. P. Morgan tells the story of how he would get his shoes shined every Wednesday at the same shop around the corner from his office. One day the shoe shine attendant asked him if he and his friends could buy some stock through Morgan’s brokerage. The three friends had about $40—a lot of money in 1929. Morgan politely refused, hurried back to his office, and ordered that his company was not to have a single share of stock on its books by the end of the day. Morgan simply asked, “If the shoe shine boys are buying stocks, who else is left?” Of course, the 1929 stock market crash was only a few days away, and Morgan looked like a genius. He was not a genius; he noted that the order flow was likely running out on the buy side. It wasn’t his army of analysts that showed him that. It was a public investor.
The only argument I've heard that makes me back any of these silly cryptos is that some countries have pretty fucked up and corrupt banking systems, so bitcoin ends up being a good way to get money in and out of the country. However, now we need to trust the people converting BTC to the local currency. :|
That being said, I'm holding .2 of BTC and just letting it ride.
You are actually insured in certain countries with crypto assets as long as you keep them on a crypto asset exchange - same as like with FDIC and the money in your bank account. But if you're going to use a hardware wallet and manage your own crypto assets then you're on your own, which is part of the ideology.
I think we're a ways away from any crypto being a tangible replacement for fiat currency. But Fiat money has attributed value because a government declares it legal tender - it has no intrinsic value. Cryptocurrencies can be spent and received by anyone, anywhere, and at any time without the need for a bank or a government. When you read it like so, the application of it sounds pretty amazing but you also have to think of the economics.
the us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin
Expand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazy
Expand QuoteExpand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazy[close]
Wasn't something like 30-40% of all US dollars were printed in 2020 alone? Crazy to think about.
I really want to invest in water and agriculture but unsure how to do so if anyone has tips.
Expand QuoteExpand QuoteExpand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazy[close]
Wasn't something like 30-40% of all US dollars were printed in 2020 alone? Crazy to think about.[close]
I've been buying a few ounces of silver every week or two for the past few years. Bullion mostly, but also any silver I find at thrifts or yardsales. Was super bummed when those reddit kooks started running it up. I'm not selling anytime soon. Same with my physical gold . It's just my side hustle, still have a Roth IRA, 401K, and 501C for my kid. I'm positive im doing it completely wrong, but feels good to have something physical in hand.
Expand Quote
You are actually insured in certain countries with crypto assets as long as you keep them on a crypto asset exchange - same as like with FDIC and the money in your bank account. But if you're going to use a hardware wallet and manage your own crypto assets then you're on your own, which is part of the ideology.
I think we're a ways away from any crypto being a tangible replacement for fiat currency. But Fiat money has attributed value because a government declares it legal tender - it has no intrinsic value. Cryptocurrencies can be spent and received by anyone, anywhere, and at any time without the need for a bank or a government. When you read it like so, the application of it sounds pretty amazing but you also have to think of the economics.[close]
The US dollar has value because people believe in its value not because the US gov tells anyone the value. Just the as bitcoin has no value outside the value people believe it has. Both are traded and "investors" decide the value. The key differences that I can think of are how interest rates affect the value of currency and the ability of countries to print new currency.
And, I can hand someone a five dollar bill and no bank, no internet, no anything is directly involved in that transaction. And there is no record of that transaction. The best anonymous way of transferring value is handing someone cash. Bitcoin isn't all that anonymous, especially if someone links their wallet to coinbase or something.
99% of these cryptocurrencies strike me as the same as Disney Dollars. But more often than not, just created by someone out to just make a quick buck.
And the thing that sold me on BTC not being viable is the absurdly long time it takes to send/receive it. I sent a few hundred dollars worth from myself to myself and it took hours.
Overall, I'm yet to see any real point to the whole crypto thing for most in developed countries with stable currencies.
Expand QuoteI really want to invest in water and agriculture but unsure how to do so if anyone has tips.[close]
Are you Satan?It's like investing in the sun or laughter. In no way can water ever be privatised. Its a basic human right and a life force that should never have even been bottled. What's next? air?
Expand QuoteExpand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazy[close]
Wasn't something like 30-40% of all US dollars were printed in 2020 alone? Crazy to think about.
Expand QuoteExpand QuoteExpand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazy[close]
Wasn't something like 30-40% of all US dollars were printed in 2020 alone? Crazy to think about.[close]
yes! https://ycharts.com/indicators/us_m1_money_stock just look at it at a 5year span or so
Expand QuoteExpand QuoteExpand QuoteExpand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazy[close]
Wasn't something like 30-40% of all US dollars were printed in 2020 alone? Crazy to think about.[close]
yes! https://ycharts.com/indicators/us_m1_money_stock just look at it at a 5year span or so[close]
this trips me up. isn't the availability of a fiat currency a partial indicator of its value? the greater the # of dollars floating around equates a lesser value of those dollars? I mean, I look at the buying power of USD, 59.1% inflation since 1999. $100 USD in '99 had the buying power of $159 today. That blows my mind. I mean, it's probably good for the rest of the world, but I'm pretty bummed on my few dollars being worth less and less
While a cash transaction is more able to be completely anonymous, that's fine if it's $5 but what happens if it's 1 million? Carrying it around, pretty much anyone could just steal it. Hiding it under your bed - house could burn, you get robbed, etc... . Putting it in a bank account, big brother is going to notice. Or what if some other person witnesses the transaction?
Bitcoin is designed to allow its users to send and receive payments with an "acceptable" level of privacy as well as any other form of money. Long term, if we're talking large transactions, I'd think it offers some perks over dealing in cash - pros/cons. But, of course, I'm sure there's ways shady ways within the financial institutions that be to mask such things - probably even gone digital there these days. And if privacy is your concern, you'd probably avoid the digital asset exchanges.
A transaction with BTC, for instance, should take at most 10 mins these days. Which is actually pretty quick if you think about how long it would take for someone in Japan to transfer X amount of money to someone in Mexico. Depends on the situation to a certain extent.
I think people instantly think of Bitcoin when they hear cryptocurrency and a misconception is that they're all meant to be attempting to take over fiat currencies. Ethereum, for instance, is not a cryptocurrency — it's a platform for creating decentralized products. Ether is the cryptocurrency that powers the Ethereum platform and blockchain.
And blockchain in general can solve tons of problems - just depends which specific issue you're focusing on: self sovereign identity, data monetization, data portability, etc...
I think the whitepapers for most of them are all pretty interesting. Curious to see how most of them pan out.
But, to be clear, for investing purposes just do your research in invest in whatever you deem fit. I think crypto is still a bit volatile for most people to stomach/understand what they're investing in. Much more simple and less risky for the majority to invest in large/mid/small cap etf's or whatever sector you feel you're the most informed about.
yes, that is not a good sign, but it more or less is the problem of all currencies since there is no gold to back up a real value in a federal bank somewhere (as it used to). but the case in the US is one of the more extreme ones, as far as my stupid ass can say so. countries with "real" value to back their currency like norway (fossile fuels) are doing great.
... another 400 on black, another fucking red. Yeah, fuck roulette. I have the worst RNG.my first encouter with Roulette exposed me to the high of gambling. I love the simple mechanics. luckily I've only burned relatively-"extra" money and have paid minimal interest in almost 30 years of using credit.
Props to Wesley Snipes for sticking to his guns though. Bet on the most dangerous gamble (https://en.wikipedia.org/wiki/Wesley_Snipes#Income_tax_conviction) and lost over two years of his life in jail.lol, the us dollar has only value because oil needs to be traded in dollar. otherwise that currency would be worthless, no offense. just look at the us dollar money supply, theyre "printing" that shit like crazyExpand Quotethe us dollar has value because you can't pay taxes in goats and bushels of corn and bitcoin[close]
I received a fine when I first moved to Colorado for putting a rain barrel before my spouting. Think it was 4-500$, for stealing water that's legally California's, or that's how the environmental police guy explained it to me at the time. I thought I was being pranked/hazed the entire time. SoCal rippers will be wearing LV stillsuits in the future.This was enraging the first time I found out about this. I don't get how there is no provision excluding small capture for personal use.
Are you Satan? It's like investing in the sun or laughter. In no way can water ever be privatised...Expand QuoteI really want to invest in water and agriculture but unsure how to do so if anyone has tips.[close]
What's next? air?
no one actually uses bitcoin unless they're out to buy a bride and/or mdma on the darknet
Sold one of my rentals this week. Was meant to be a long term hold but maintenance issues and the year 2020 stopped that so figured I’d sell and let someone else have it. Paid $337k just over three years ago and sold for $695k so quite the return on that one
Expand QuoteSold one of my rentals this week. Was meant to be a long term hold but maintenance issues and the year 2020 stopped that so figured I’d sell and let someone else have it. Paid $337k just over three years ago and sold for $695k so quite the return on that one[close]
Goddamn. Congratulations.
I started an investment portfolio back in December. My first. I read several books and several newscasts to prepare for it. I'm handling it myself as well; I started a practice account with my bank before the real thing, and it went well. It's recommended to have a portfolio advisor assist you but honestly, I think I can do it myself. I'm not trying to make a quick buck.
I've bought some stable Vanguard ETFS and I've bought airline stock. The airline stock is low and it continues to get lower (i.e. I'm losing money), but once the pandemic eases up, I'm pretty sure the industry will see a big resurgence.
Basically, I'm not in it for the short term. I'm planning on keeping most of the stocks that I own for the next five years at least. That's the basic advice that the books I've read adhere to - don't follow "hot leads" and invest for the long term. I can handle losing a few hundred dollars now to make a few more later.
Maybe when I have more money I can play around with small-cap stocks. I heard there's a new Tesla-like company that's producing more family-friendly vehicles for example - that's something I'd be interested in if I had more money to spare. But my major financial focus is on eliminating all my debt and saving for a down payment on a mortgage at this time.
Expand QuoteExpand QuoteSold one of my rentals this week. Was meant to be a long term hold but maintenance issues and the year 2020 stopped that so figured I’d sell and let someone else have it. Paid $337k just over three years ago and sold for $695k so quite the return on that one[close]
Goddamn. Congratulations.
I started an investment portfolio back in December. My first. I read several books and several newscasts to prepare for it. I'm handling it myself as well; I started a practice account with my bank before the real thing, and it went well. It's recommended to have a portfolio advisor assist you but honestly, I think I can do it myself. I'm not trying to make a quick buck.
I've bought some stable Vanguard ETFS and I've bought airline stock. The airline stock is low and it continues to get lower (i.e. I'm losing money), but once the pandemic eases up, I'm pretty sure the industry will see a big resurgence.
Basically, I'm not in it for the short term. I'm planning on keeping most of the stocks that I own for the next five years at least. That's the basic advice that the books I've read adhere to - don't follow "hot leads" and invest for the long term. I can handle losing a few hundred dollars now to make a few more later.
Maybe when I have more money I can play around with small-cap stocks. I heard there's a new Tesla-like company that's producing more family-friendly vehicles for example - that's something I'd be interested in if I had more money to spare. But my major financial focus is on eliminating all my debt and saving for a down payment on a mortgage at this time.[close]
my grandfather was a total scum bag but he always said to buy/keep stocks for the long run. he was all about military industrial complex stocks. I can't imagine what 60+ years of buying those stocks and government bonds added up to.
Expand QuoteExpand QuoteExpand QuoteSold one of my rentals this week. Was meant to be a long term hold but maintenance issues and the year 2020 stopped that so figured I’d sell and let someone else have it. Paid $337k just over three years ago and sold for $695k so quite the return on that one[close]
Goddamn. Congratulations.
I started an investment portfolio back in December. My first. I read several books and several newscasts to prepare for it. I'm handling it myself as well; I started a practice account with my bank before the real thing, and it went well. It's recommended to have a portfolio advisor assist you but honestly, I think I can do it myself. I'm not trying to make a quick buck.
I've bought some stable Vanguard ETFS and I've bought airline stock. The airline stock is low and it continues to get lower (i.e. I'm losing money), but once the pandemic eases up, I'm pretty sure the industry will see a big resurgence.
Basically, I'm not in it for the short term. I'm planning on keeping most of the stocks that I own for the next five years at least. That's the basic advice that the books I've read adhere to - don't follow "hot leads" and invest for the long term. I can handle losing a few hundred dollars now to make a few more later.
Maybe when I have more money I can play around with small-cap stocks. I heard there's a new Tesla-like company that's producing more family-friendly vehicles for example - that's something I'd be interested in if I had more money to spare. But my major financial focus is on eliminating all my debt and saving for a down payment on a mortgage at this time.[close]
my grandfather was a total scum bag but he always said to buy/keep stocks for the long run. he was all about military industrial complex stocks. I can't imagine what 60+ years of buying those stocks and government bonds added up to.[close]
I'm sure tons. I wish I started investing when I was a teenager, to have had that financial literacy and awareness would've been so beneficial for my well-being. Unfortunately no one really sat me down and explained that side of life to me.
Expand QuoteExpand QuoteExpand QuoteSold one of my rentals this week. Was meant to be a long term hold but maintenance issues and the year 2020 stopped that so figured I’d sell and let someone else have it. Paid $337k just over three years ago and sold for $695k so quite the return on that one[close]
Goddamn. Congratulations.
I started an investment portfolio back in December. My first. I read several books and several newscasts to prepare for it. I'm handling it myself as well; I started a practice account with my bank before the real thing, and it went well. It's recommended to have a portfolio advisor assist you but honestly, I think I can do it myself. I'm not trying to make a quick buck.
I've bought some stable Vanguard ETFS and I've bought airline stock. The airline stock is low and it continues to get lower (i.e. I'm losing money), but once the pandemic eases up, I'm pretty sure the industry will see a big resurgence.
Basically, I'm not in it for the short term. I'm planning on keeping most of the stocks that I own for the next five years at least. That's the basic advice that the books I've read adhere to - don't follow "hot leads" and invest for the long term. I can handle losing a few hundred dollars now to make a few more later.
Maybe when I have more money I can play around with small-cap stocks. I heard there's a new Tesla-like company that's producing more family-friendly vehicles for example - that's something I'd be interested in if I had more money to spare. But my major financial focus is on eliminating all my debt and saving for a down payment on a mortgage at this time.[close]
my grandfather was a total scum bag but he always said to buy/keep stocks for the long run. he was all about military industrial complex stocks. I can't imagine what 60+ years of buying those stocks and government bonds added up to.[close]
I'm sure tons. I wish I started investing when I was a teenager, to have had that financial literacy and awareness would've been so beneficial for my well-being. Unfortunately no one really sat me down and explained that side of life to me.
Expand QuoteExpand QuoteExpand QuoteExpand QuoteSold one of my rentals this week. Was meant to be a long term hold but maintenance issues and the year 2020 stopped that so figured I’d sell and let someone else have it. Paid $337k just over three years ago and sold for $695k so quite the return on that one[close]
Goddamn. Congratulations.
I started an investment portfolio back in December. My first. I read several books and several newscasts to prepare for it. I'm handling it myself as well; I started a practice account with my bank before the real thing, and it went well. It's recommended to have a portfolio advisor assist you but honestly, I think I can do it myself. I'm not trying to make a quick buck.
I've bought some stable Vanguard ETFS and I've bought airline stock. The airline stock is low and it continues to get lower (i.e. I'm losing money), but once the pandemic eases up, I'm pretty sure the industry will see a big resurgence.
Basically, I'm not in it for the short term. I'm planning on keeping most of the stocks that I own for the next five years at least. That's the basic advice that the books I've read adhere to - don't follow "hot leads" and invest for the long term. I can handle losing a few hundred dollars now to make a few more later.
Maybe when I have more money I can play around with small-cap stocks. I heard there's a new Tesla-like company that's producing more family-friendly vehicles for example - that's something I'd be interested in if I had more money to spare. But my major financial focus is on eliminating all my debt and saving for a down payment on a mortgage at this time.[close]
my grandfather was a total scum bag but he always said to buy/keep stocks for the long run. he was all about military industrial complex stocks. I can't imagine what 60+ years of buying those stocks and government bonds added up to.[close]
I'm sure tons. I wish I started investing when I was a teenager, to have had that financial literacy and awareness would've been so beneficial for my well-being. Unfortunately no one really sat me down and explained that side of life to me.[close]
Oh ya, man. No one talked to me about it either until I was a broke adult trying get to know my shitbag grandfather who'd instead be laying a guilt trip on me because I wasn't in the military, didn't play golf, didn't buy stocks, blah blah blah. That grandfather didn't talk to the family until his 7th wife died. Motherfuck was buying decades of ratheyon stocks while the product of his sperm were poor as fuck living in low income housing. Dude came crawling back in his late 70s when he'd burned everyone everywhere else, sold his business, etc asking for people to care for him and continues to gas light the whole family for the next 10 years. dude dies, he's got 6 kids and 10 grandkids who all took him back in after not seeing him for decades mind you, and leaves all his shit to one of his ex wives already filthy rich CPA kids. But ya, my parents don't know shit about investing, so I've been on a journey to figure out what to do with money. I really just want to buy a property and let that gain value.
edit: went on a rant. my b. the old man gets my blood boiling sometimes
Never responded but yeah that’s what I meant. It’s a gamble to me and nothing serious. Was more akin to buying a llotto ticket.Expand QuoteI've had Robinhood downloaded for like 2 years and never used it. Always thought about putting in 10 or 20 bucks but know trying to beat the market is dumb. Today I just said screw it, I'll throw in $40 to buy 3 AMC stock and see if these fuckers do it again. Gambling isn't my thing and if I ever go to a casino I give myself and my girlfriend a $20 so I don't feel bad about throwing this $40 in.[close]
If you're trying to 'beat' the market, you're destined to lose. Most people will do better investing on a longer time horizon - i.e. 5-10 years, retirement. In which case you'd be choosing value stocks or, better for most people, choosing some top ETF's going with the overall economy.
The average stock market return is about 10% per year for nearly the last century. So lets say you have 10k to put in a savings account or a large cap ETF. With the ETF you're hoping, and the odds are, you earn around 1k from your investment that year. With a savings account, something like .07%, so $7. Of course, by definition, there is some risk even in making what's considered a safe investment. You'll make a better return on getting a credit card with a good rewards program vs a savings account.
With GME, AMC, DOGE (or whatever shill coin) - those are more akin to gambling IMHO. Investing in DOGE vs Bitcoin or Eth is like betting on the commodity of concrete vs gold. DOGE was birthed as a joke and long term I don't see it's merit as a technology or commodity.
Is anyone gonna buy 23andme stock? They're going public soon.
https://finance.yahoo.com/news/23-and-me-to-go-public-at-35-billion-with-sir-richard-bransons-spac-145723271.html
Expand QuoteIs anyone gonna buy 23andme stock? They're going public soon.
https://finance.yahoo.com/news/23-and-me-to-go-public-at-35-billion-with-sir-richard-bransons-spac-145723271.html[close]
Other than the Virgin Airline guy buying this company, why do you think 23andMe a good investment?
https://finance.yahoo.com/news/dna-genomics-company-23andme-gets-130446160.html
Also, I fucking blew it on my AirBnB stock. Bought and then panic sold most of it at a loss. If I would have just played it cool, I'd be up 19% in less than 60 days. (AirBnB is such a terrible company as it fucks renters and those who want to buy a home to actually live in it. I rent from them, but the guilt is pretty strong.)
I'm going down with the ship with this stupid ass BlackBerry WSB. Hopefully, enough people on the internet post rocketship emoji's and this stock goes up.
My only investments that are consistently going up are my 401K and my optional 401K like accounts that are made up of picks like FOCKX. Also, one of the companies I work for forces me to invest 10% of my pre-tax pay into a super conservative short-term investment fund. It has offered a consistent 3-4% return each year (not amazing, but it is now enough for a decent used car).
All this being said, I feel like complete shit for being involved in the stock market in anyway. I don't like the fact that I'm gaining from speculation and from stock dividends (basically stealing the surplus labor from those who actually work for a living). My buddy is developing a decent income from buying homes renting them out. I feel like we are both scum. My 401Ks steal surplus labor (and will never add up to enough to retire) and he overcharges on a basic human necessity to also steal from those who work for a living. We both gain from sitting on our asses.
Bought a little APHY at 17 over the weekend. It’s at 27 within 2 days.
my new stock is HCMC.. share are a fraction of a cent now, and apparently theres some patent case they have against phillip morris that they're likely to win. Small cost to buy in, and if it goes up to a dollar, or even like 50 cents thats pretty easy money.
At the time I was just looking for stock I could afford. I saw consistent growth over the past year. I don't know anything about stock but I saw a huge market cap, fairly small # of employee's, read some of the analysts thoughts on it that had just come out. I was not trying to jump on the weed train just for the reddit bs. Actually bought it before the weed meme stock thing happened last week those retards at reddit all just happened to buy it a few days later, boosted it and then it dropped. I've seen some people say that US weed legalization will have no effect on a big, growing Canadian weed company but that is fucking regular. I don't see how the weed market becoming legal and totally opening up to them would be a bad thing. I'm not a business person but they are merging/merged with Tilray, which is incorporated in the US, creating the biggest multinational cannabis company in the world and are teaming up with Annheiser-Busch to do craft beer and cannabis infused drinks.Expand QuoteBought a little APHA at 17 over the weekend. It’s at 27 within 2 days.[close]
What inspired you to buy this stock?
What's APHY? Google isn't showing me anythingSorry, its APHA. Don't know why I can stop writing it wrong.
Is it always a good time to invest in cryptos? I put in a little bit of money and want to put in some more. Do I wait until its down or should I just put in money whenever I have some spare?
Expand QuoteIs it always a good time to invest in cryptos? I put in a little bit of money and want to put in some more. Do I wait until its down or should I just put in money whenever I have some spare?[close]
Let me preface by saying I barely know stonks and crypto is still odd to me.
I'll cite bitcoin as a reference.
prices would dip if people sold something, right?
so, if nobody is selling bitcoin (correct me if I'm wrong), the price can only stay put or go up.
I've got 1% of bitcoin stock and that's probably all I'll put in. Not trying to go crazy with it and watch it endlessly.
I put in whatever I'm willing to lose.
On the other side of things,Dogecoin is awfully inexpensive too. That seems like one you have to watch constantly since it's fluctuated so much in the past few weeks.
Even throwing a bit in could do something great in the next few years.
Again, this is assuming crypto pops off the way people are speculating.
Buying on dips ain't a bad idea. You could also save and buy real estate; god ain't making any more of it.
Anyone into NBA Top Shot?
I kind of understand, but I also don't understand the point of these non-fungibles.
I mean like there is something to owning a skate DVD opposed to just watching on Youtube, but I'm down to pay 20 for a DVD but not 10K for a IG post.
Bought a $199 pack of NBA Top Shot cards on Sunday. Yesterday I sold all the cards individually. Made over $500 profit. The prices definitely seem inflated, but I’m taking advantage of the moment.
Who bought them from you? Just rich old dudes?
One random morning almost 3 weeks ago, while paying for services on cash app, saw they now offered stocks and bitcoin services. On a whim, because of this thread, I bought 250$ in GME. Almost 5.5 shares. Around 45 each. The first stock I've ever purchased on my own. Gains now multiple hundreds %, and even with this afternoon, is good. I could care less. I only expected to lose it all anyways, so any profit in the end is great. It'll all go towards my son's college in 14 year anyhow. Trying to hold until a split at least.
Only other thing I do regularly is buy physical silver and gold. Small amounts, but with the run on silver recently, it took all the fun out of it. Truthfully, I just want something tangible I'm my hand. And fiat paper money does not count. Creature of jeckyl island is a must read book.
Also finally refinanced to a 15 year 2.6% mortgage, from a 4.7% 30 year (still had 24 years to go). Monthly mortgage payment dropped 75$. Now I should be completely debt free, own our own home in 5 years. I triple my principle every payment, and get 20 k in bonuses most years, that go straight to principle. Having been legitimately homeless/ junked out most of my 20s, and now sober for many years, just gotta to show how much money I waisted on straight junk.
Expand QuoteWho bought them from you? Just rich old dudes?[close]
I kept my prices low to make quick sales. So I'm guessing other flippers bought them. But I'm sure rich old dudes are in there. Lots of talk about the Chinese getting access soon and buying everything up. Apparently younger NBA players are obsessed with it too. The player's union gets a cut. So it's in their best interest to hype it up.
Expand QuoteOne random morning almost 3 weeks ago, while paying for services on cash app, saw they now offered stocks and bitcoin services. On a whim, because of this thread, I bought 250$ in GME. Almost 5.5 shares. Around 45 each. The first stock I've ever purchased on my own. Gains now multiple hundreds %, and even with this afternoon, is good. I could care less. I only expected to lose it all anyways, so any profit in the end is great. It'll all go towards my son's college in 14 year anyhow. Trying to hold until a split at least.
Only other thing I do regularly is buy physical silver and gold. Small amounts, but with the run on silver recently, it took all the fun out of it. Truthfully, I just want something tangible I'm my hand. And fiat paper money does not count. Creature of jeckyl island is a must read book.
Also finally refinanced to a 15 year 2.6% mortgage, from a 4.7% 30 year (still had 24 years to go). Monthly mortgage payment dropped 75$. Now I should be completely debt free, own our own home in 5 years. I triple my principle every payment, and get 20 k in bonuses most years, that go straight to principle. Having been legitimately homeless/ junked out most of my 20s, and now sober for many years, just gotta to show how much money I waisted on straight junk.[close]
GME isn't a $250+ stock right now because it's doing good as a company. If I was you, I'd cash that out soon while it's hot and then put the money in another stock for long term. I know you said you couldn't care less but why have your $250 grow to 2k just to let sit and go back to $250? Essentially throwing away a few thousand you got for free.
I don't know how the GME situation will play out but I'd suggest reading more about it and why it's a special case.
Expand QuoteExpand QuoteOne random morning almost 3 weeks ago, while paying for services on cash app, saw they now offered stocks and bitcoin services. On a whim, because of this thread, I bought 250$ in GME. Almost 5.5 shares. Around 45 each. The first stock I've ever purchased on my own. Gains now multiple hundreds %, and even with this afternoon, is good. I could care less. I only expected to lose it all anyways, so any profit in the end is great. It'll all go towards my son's college in 14 year anyhow. Trying to hold until a split at least.
Only other thing I do regularly is buy physical silver and gold. Small amounts, but with the run on silver recently, it took all the fun out of it. Truthfully, I just want something tangible I'm my hand. And fiat paper money does not count. Creature of jeckyl island is a must read book.
Also finally refinanced to a 15 year 2.6% mortgage, from a 4.7% 30 year (still had 24 years to go). Monthly mortgage payment dropped 75$. Now I should be completely debt free, own our own home in 5 years. I triple my principle every payment, and get 20 k in bonuses most years, that go straight to principle. Having been legitimately homeless/ junked out most of my 20s, and now sober for many years, just gotta to show how much money I waisted on straight junk.[close]
GME isn't a $250+ stock right now because it's doing good as a company. If I was you, I'd cash that out soon while it's hot and then put the money in another stock for long term. I know you said you couldn't care less but why have your $250 grow to 2k just to let sit and go back to $250? Essentially throwing away a few thousand you got for free.
I don't know how the GME situation will play out but I'd suggest reading more about it and why it's a special case.[close]
Forgot to mention I cashed out my 250 initial yesterday morning. I'm clear and even now no matter what. Also don't plan to keep GME past the very near future. But will keep any and all earning in whatever seems prudent at the time. Mostly a hobby that could possibly pay to me at this time. But now I'm considering opening an actual day account somewhere. Definitely cashing the rest out if it goes over 500. Immediately
DRIPS all the way homie!
Check out ACWI if any of you are buy and hold. Its the MSCI All Country World Index - Basically the MSCI World index (whihc is all developed countries acorss NA Europe and Asia) with some Emerging mkts thrown in. Your pretty well covered with that. Buy and hold (and hope for the best)
and added this in after - gotta love China!!
"We have mentioned that the Chinese stock market has dropped in the past few weeks. Well, to help with the slump, the Chinese seem not to be able to access the words “stock market” on various social media platforms. Weibo, the Chinese version of Twitter, showed no results on its web version on Wednesday.
This seems to have worked, as the market has been up for the past two days."
Expand QuoteDRIPS all the way homie!
Check out ACWI if any of you are buy and hold. Its the MSCI All Country World Index - Basically the MSCI World index (whihc is all developed countries acorss NA Europe and Asia) with some Emerging mkts thrown in. Your pretty well covered with that. Buy and hold (and hope for the best)
and added this in after - gotta love China!!
"We have mentioned that the Chinese stock market has dropped in the past few weeks. Well, to help with the slump, the Chinese seem not to be able to access the words “stock market” on various social media platforms. Weibo, the Chinese version of Twitter, showed no results on its web version on Wednesday.
This seems to have worked, as the market has been up for the past two days."[close]
Heres another...Tesla's fault?
"I saw this and thought it was interesting. Over the past six months, SPY is up 16%, RSP, which is equal weight the S&P 500, is up 26% and RVRS, which is the S&P 500 in reverse, where the top holding in SPY is the lowest weight, is up 35%. RVRS also outperforms both over the past year."
Expand QuoteExpand QuoteDRIPS all the way homie!
Check out ACWI if any of you are buy and hold. Its the MSCI All Country World Index - Basically the MSCI World index (whihc is all developed countries acorss NA Europe and Asia) with some Emerging mkts thrown in. Your pretty well covered with that. Buy and hold (and hope for the best)
and added this in after - gotta love China!!
"We have mentioned that the Chinese stock market has dropped in the past few weeks. Well, to help with the slump, the Chinese seem not to be able to access the words “stock market” on various social media platforms. Weibo, the Chinese version of Twitter, showed no results on its web version on Wednesday.
This seems to have worked, as the market has been up for the past two days."[close]
Heres another...Tesla's fault?
"I saw this and thought it was interesting. Over the past six months, SPY is up 16%, RSP, which is equal weight the S&P 500, is up 26% and RVRS, which is the S&P 500 in reverse, where the top holding in SPY is the lowest weight, is up 35%. RVRS also outperforms both over the past year."[close]
Last one for Today - its about NFT's!! Like WTF!!
The first virtual Non-Fungible Token (NFT) artwork to be sold at a major auction house closed at $69,346,250 during an online auction by Christie's on Thursday. The starting bid was $100.
"Everydays -- The First 5000 Days" is a collage comprised of 5,000 images taken over the course of 13 years by a digital artist named Beeple.
Makes me want to look a bit more closely at the pictures on my cellphone.
If you were wondering what NFTs are, they are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
Expand QuoteWho bought them from you? Just rich old dudes?[close]
I kept my prices low to make quick sales. So I'm guessing other flippers bought them. But I'm sure rich old dudes are in there. Lots of talk about the Chinese getting access soon and buying everything up. Apparently younger NBA players are obsessed with it too. The player's union gets a cut. So it's in their best interest to hype it up.
I have to pay taxes on everything, so if I wanna recoup my initial investment then I need to account for taxes as well. say it was $100, then if it's a $200, I can't withdraw $100 and think I'm even, since I need to play taxes on that $100 I withdrew. long term, 10x is my goal and plan. Currently at 3x.
but I don't fuck with shitcoins.
take your gains before it tanks.
if you don't know why your coins are up, then take the gains.
if you don't know the project plan, take the gains.
The taxes thing is concerning to me. Before February my only investments were my mortgage, 401k, and physical silver/go lol d in a fire safe hidden.
Bought GameStop on cashapp on a whim, it mooned that week, I ended up buying more, all told gained 3k after recouping initial investment. Does cashapp report to gov? Opened a WeBull with the cash app gains, which I'm sure gets taxed, but there's no gains to tax there right now. Also opened a coinbase and kraken accounts. Up 300% on Doge mostly, bought Bitcoin and Cardano on the dip this morning. Put my Doge in a wallet at 11 cents.
Anyways, I hate watching YouTube videos about coins, can anyone suggest books or websites that are legit? Need to figure the taxes or before i put serious money into coins.
I make building products for housing market at my job. Everything is so out of wack, I'm pretty sure there's a housing crash soon. No one can get the raw materials to make anything, lumber is through the roof, and having refied my 30 yr mortgage to a 15, and my monthly payment DECREASED by 10%? Don't see how that is sustainable. If I can't figure it out soon, I'll just buy lots more silver to bury I guess.
Just heard about it the other day, and starting to read into it. I just don’t get it...it seems like scam. Maybe it’s over my head or something.
So I "own" this piece of art/video/image/song an artist created. But then you can view this same item online, just like me. Except I paid a few hundred dollars to be the owner. What am I paying for exactly? If it's a photo, maybe I get the hi-res file and I can print it and hang to my wall. But if it's something entirely digital, what's the point?
Is this just some way to make money off hype? Launder money/crypto?
I just don't think I get it...
I bought 20 GME at 125. If it "moons" to 1K, 5K or even more it will be a lucky shot, if it tanks again I will lose 2K at most, which I can afford right now. Those guys at Reddit who do insane amounts of research still have a lot of confidence in the short squeeze and think you can make millions off even a couple of shares. I dont think that's very realistic but it's also a once in a lifetime opportunity, and probably my only chance left to get some "fuck you" money.
I hate their ape, person, tendies, stonks etcetera lingo there and how they talk about that DFV guy (who is obviously very smart, no doubt) like a god, not even a half god or a heroe, a real god.
Thinking about getting some bitcoins if the arse keeps falling out of them, I had said if they go to 15 grand aud I’ll get some
Is this stupid?
That game stock thing I reckon that was a one off shoulda sold it all when it started to drop
But I know fuck all about investing I just meant cause it was all on that forum the majority woulda sold their shit whilst still posting that diamond hand stuff on reddit
Anyone getting those AMC returns? I haven’t looked at mine in a while, which I bought at around $10 then had a quick look the other day and some good stuff going on there
If you get into altcoins, I'd recommend taking profits if they're doing well because they bleed harder when BTC crashes and goes into a bear market.
Expand QuoteIf you get into altcoins, I'd recommend taking profits if they're doing well because they bleed harder when BTC crashes and goes into a bear market.[close]
Where were you three weeks ago
Was a joke, I meant I could've done with hearing that 3 weeks ago just before it tanked and I lost a shitload of money
Legit 2 cents. Unless your able to watch the market all day/night I would go with the above method.Expand QuoteThinking about getting some bitcoins if the arse keeps falling out of them, I had said if they go to 15 grand aud I’ll get some
Is this stupid?
That game stock thing I reckon that was a one off shoulda sold it all when it started to drop
But I know fuck all about investing I just meant cause it was all on that forum the majority woulda sold their shit whilst still posting that diamond hand stuff on reddit[close]
I think there's value to have a target to buy in at, but honestly just the best thing is to dollar cost average in. Get on an exchange and set a weekly buy of 25 bucks, 50 bucks, whatever your budget is, and that just cuts out trying to find bottoms or tops. And plan to hold for at least 3-4 years. Just my 2 cents, but that's the tried and true method in crypto. If you get into altcoins, I'd recommend taking profits if they're doing well because they bleed harder when BTC crashes and goes into a bear market. I'm in crypto for the long haul and it also helps to hold longer to avoid short term capital gains if you take profits before a year.
All my crypto investments have gone down like a sack of shit and I'm not planning to look at them until I either hear some news about how crypto is going wild again or I die, not sure which will come first at this point. Well I guess I won't look at them after I die but at least I won't care anymore
Alright so this isn’t about investing per se, and I feel like a moron for not doing this years ago, as this is something most all financially savvy people do.. but in all honesty I have a strained, triggering, relationship with money and as a result have done lots of things to self sabotage myself financially throughout my adult life…
The epiphany I finally had today was to get a another credit card, one that offers 1-3% worth of reward points on the dollar, for virtually every single purchase and bill payment, and use it for everything, then pay it off right away. It might be pennies to some people, but this is probably going to be an extra $500-1000/year in my pocket, and I’m seriously hyped about it.
Thanks for posting that article, had read similar snippets about the topic but that explained it really well. I definitely feel some level of guilt for the small businesses and cc-less people who have to eat the cost.
With that said, I’m a working class, paycheck to paycheck person myself who feels the effects of rising prices. If one day I don’t need those extra few hundred bucks a year, I’ll rethink my strategy, but until then I feel I should make the most of my available resources.
Also open to any other obvious or not so obvious financial advice I might be overlooking. I generally try to spend as little as possible, but takeout/junk food is one thing I struggle with that seems cheap but adds up.
Expand QuoteThanks for posting that article, had read similar snippets about the topic but that explained it really well. I definitely feel some level of guilt for the small businesses and cc-less people who have to eat the cost.
With that said, I’m a working class, paycheck to paycheck person myself who feels the effects of rising prices. If one day I don’t need those extra few hundred bucks a year, I’ll rethink my strategy, but until then I feel I should make the most of my available resources.
Also open to any other obvious or not so obvious financial advice I might be overlooking. I generally try to spend as little as possible, but takeout/junk food is one thing I struggle with that seems cheap but adds up.[close]
I'm over posting a bit (sorry).
1) Opt-out of the overdraft: https://www.consumerfinance.gov/about-us/blog/understanding-overdraft-opt-choice/
2) The cheap stores aren't all that cheap (i.e. dollar stores are rip-offs and have better profit margins than grocery stores).
3) Buy shit you need when it is on sale. (I didn't worry about toilet paper during the pandemic because I loaded up a few months before when it went on sale. I do the same with soap, shampoo, and other stuff I can just let sit without worry of it going bad.
Finally, don't beat yourself up if you can't save a bunch of money easily. The game is rigged in favor of those who already have wealth and/or professional/managerial jobs. Normal people can save a couple dollars here and there, but to save money as a normal person it might take an unreasonable sacrifice (I didn't have a car and lived in some disgusting apartments when I was desperate to put money into the bank, but this fucking sucked and caused me some major problems.)
Is anyone else completely enamored with bitcoin? It is the most fucked thing ever. The potential change it could have in the world is fucking insane
Expand QuoteIs anyone else completely enamored with bitcoin? It is the most fucked thing ever. The potential change it could have in the world is fucking insane[close]
I'm generally not stoked on any of the cryptos. I'll tell you why and you can tell me what I'm missing:
1) Pollution/energy. 1 BTC transaction takes an insane amount of energy compared to a Visa transaction.
(https://i.ibb.co/z5kW4CL/Screen-Shot-2021-12-06-at-10-47-40-PM.png)
2) It is relatively traceable and not as anonymous as cash.
https://bitcoin.org/en/you-need-to-know#:~:text=Bitcoin%20is%20not%20anonymous&text=However%2C%20the%20identity%20of%20the,should%20only%20be%20used%20once.
3)It can be seized by the US Gov.
https://www.npr.org/2021/06/08/1004223000/how-a-new-team-of-feds-hacked-the-hackers-and-got-colonial-pipelines-bitcoin-bac
4) It simply doesn't make sense as a currency. As far as I can tell, money needs to be printed and there needs to be inflation to make sure a currency keeps circulating. The US GDP was roughly 10 trillion in in 2000. Today, it is roughly 21 trillion. How the hell would things work if more currency wasn't printed?
We could have items cost less, but that doesn't make sense. For example, if the US stopped at circulating x number of dollars, the dollar would increase in value relative to goods/services each day. Spending it would be terribly stupid as it will always buy a little more tomorrow. Why would I sell you a carton of eggs for 1 dollar today when I know that the dollar will be worth 2 cartons of eggs tomorrow. Why would you spend your dollar on the carton of eggs, when you could get 2 cartons tomorrow? This would turn us all into misers, which Marx and Smith point out are bad at capitalism. As currency, it has a strong potential to halt circulation and thus kill what makes capitalism work.
It might be a place to store wealth, but do we really have that much surplus capital where we need to make thing up to store value?
5) A few people own the majority of BTC. It isn't some democratic revolution, it instead just another small group of people coming up into a position of power.
https://www.bloomberg.com/news/articles/2020-11-18/bitcoin-whales-ownership-concentration-is-rising-during-rally
The key value I see in BTC is its ability to send remittence home to corrupt countries and sidestep import laws/"taxes/fees," but going back to the fact that it isn't anonymous as we think, I don't think this will last forever. Same goes for if we were paid in BTC, we need to spend it sometime and now there is a digital record of our spending/identity.
Overall, I think this stuff doesn't make any sense, but that doesn't mean I've avoided the speculation wave associated with it. FOMO has def encouraged my investment and holding on to this thing that I have no faith in.
Expand QuoteExpand QuoteIs anyone else completely enamored with bitcoin? It is the most fucked thing ever. The potential change it could have in the world is fucking insane[close]
I'm generally not stoked on any of the cryptos. I'll tell you why and you can tell me what I'm missing:
1) Pollution/energy. 1 BTC transaction takes an insane amount of energy compared to a Visa transaction.
(https://i.ibb.co/z5kW4CL/Screen-Shot-2021-12-06-at-10-47-40-PM.png)
2) It is relatively traceable and not as anonymous as cash.
https://bitcoin.org/en/you-need-to-know#:~:text=Bitcoin%20is%20not%20anonymous&text=However%2C%20the%20identity%20of%20the,should%20only%20be%20used%20once.
3)It can be seized by the US Gov.
https://www.npr.org/2021/06/08/1004223000/how-a-new-team-of-feds-hacked-the-hackers-and-got-colonial-pipelines-bitcoin-bac
4) It simply doesn't make sense as a currency. As far as I can tell, money needs to be printed and there needs to be inflation to make sure a currency keeps circulating. The US GDP was roughly 10 trillion in in 2000. Today, it is roughly 21 trillion. How the hell would things work if more currency wasn't printed?
We could have items cost less, but that doesn't make sense. For example, if the US stopped at circulating x number of dollars, the dollar would increase in value relative to goods/services each day. Spending it would be terribly stupid as it will always buy a little more tomorrow. Why would I sell you a carton of eggs for 1 dollar today when I know that the dollar will be worth 2 cartons of eggs tomorrow. Why would you spend your dollar on the carton of eggs, when you could get 2 cartons tomorrow? This would turn us all into misers, which Marx and Smith point out are bad at capitalism. As currency, it has a strong potential to halt circulation and thus kill what makes capitalism work.
It might be a place to store wealth, but do we really have that much surplus capital where we need to make thing up to store value?
5) A few people own the majority of BTC. It isn't some democratic revolution, it instead just another small group of people coming up into a position of power.
https://www.bloomberg.com/news/articles/2020-11-18/bitcoin-whales-ownership-concentration-is-rising-during-rally
The key value I see in BTC is its ability to send remittence home to corrupt countries and sidestep import laws/"taxes/fees," but going back to the fact that it isn't anonymous as we think, I don't think this will last forever. Same goes for if we were paid in BTC, we need to spend it sometime and now there is a digital record of our spending/identity.
Overall, I think this stuff doesn't make any sense, but that doesn't mean I've avoided the speculation wave associated with it. FOMO has def encouraged my investment and holding on to this thing that I have no faith in.[close]
2 billion people have smart phones but dont have access to bank accounts. All theyd have to do is download an app and theyd all effectively have a bank.
Anonymity is a weird one keep hearing arguments for both.
That article concerning confiscation is cos they kept it on an exchange, if you keep it in cold storage it is completely encrypted.
Most of its use is seen in countries where inflation has done far more harm than good where theyre literally using the currency as bonfire fuel.
Often people in El Salvador had to go on a bus 5 hours a week, have their 100 bucks a family member has been sent cut down to 60, and have to try and avoid gangs that hold them at knifepoint that hang out near the Western unions. With bitcoin this is eradicated. Tonga and some places in south africa are looking to implement the same infrastructure, no reason this shouldnt extend to every developing country where this is an issue. This alone is worth the electricity which is less than Christmas lights in the US every year.
heres some more shit
https://twitter.com/gladstein/status/1340836877595594752?s=20
@G raham . Interesting ideas, but I'm not so sure.
In terms of people with smart phones but without bank accounts. BTC is one of many solutions. There might be better solutions. Mobile Money Apps appear to be working well for Kenyans without bank accounts.
See: https://www.vox.com/future-perfect/21420357/kenya-mobile-banking-unbanked-cellphone-money
Building on the issue of lack of banking... lost passwords are a part of life. In BTC land, you're fucked if you lose your password. With a traditional bank account you can get that back. I'm out about 70 XRP cause my ex would break/lose her phone every 6 months and the app was on her account (and the password we wrote down isn't recovering the money). This is a huge issue.
As for cold-storage... everything is going to have issues. Although, I agree it currently seems pretty safe from hackers. However, it still has other issues.
https://enterprise.ledger.com/blog/cold-storage-isn-t-flawless.don-t-learn-it-the-hard-way
I think your El Salvador example is incorrect.
(https://i.ibb.co/8MH9X49/Screen-Shot-2021-12-07-at-3-13-12-PM.png)
As for moving money into corrupt countries, yeah, I agree with that. It is one way to do this.
@RCB3 These are interesting ideas, but I'm not convinced and there are a few things that I need to you explain a bit more.
BTC has incentive to find the cheapest energy, not necessarily the greenest energy (see https://arstechnica.com/tech-policy/2021/09/old-coal-plant-is-now-mining-bitcoin-for-a-utility-company/). What percent of BTC mining is done via green electricity?
In terms of comparing BTC to WellsFargo (a company I have disdain for since the Maloofs own a huge portion of the bank and a lot of private prison stock), you've simplified the role of the bank to just transferring and storing money. It ignores the business loans, personal loans, financial consulting/advice (not that I'd trust it), and so on. Not to mention, the benefit of direct interaction with customers while they are banking. And, in your example, we've ignored all the extra BTC equipment being manufactured, shipped around the world, and so on. If you have a broader calculation on the environmental effects of both that'd be interesting. I've presented the data that 100K Visa transactions use far less energy than a single BTC transaction. This is a huge difference, especially as BTC does so much less than a traditional bank.
In terms of gold, I haven't argued gold was good. It, like BTC, might be good as an irrational place to store value, but neither work as a currency. Why would I ever give you a loan in BTC or gold when I know it'll be worth more tomorrow? How does our current economy operate and continue to expand without people loans? How hard would it be to pay a BTC loan back when it is constantly worth more than you borrowed?
My question to you, is why is some inflation bad? What would actually happen if currency didn't change in value? The whole point of capitalism is to turn money into a commodity/service/whatever and then back in more money... why bother with the commodity part, if I have more wealth by doing nothing? How much would this completely fuck poor people in terms of power in society?
This argument about just printing money... How do things work if our economy goes from 10 trillion to 20 trillion and we don't increase the amount of money in circulation? You pointed out, we've printed a lot of money recently. Ok, our economy has also expanded dramatically as well.
Also, when did Keynes fall out of fashion? As someone on the left, who sees the benefits of government intervention in the market to protect individuals, to keep the economy moving, and so on, why would I want the "market" to be completely unregulated?
Do you have stats for the BTC wealth being spread out? This would be super interesting, but I'm doubtful.
G raham's example is probably incorrect. El Salvador seems to have negative inflation, which is something BTC supporters seem to like. And, "very fiat (government backed) currency in the history of civilization has failed. " What exactly do you mean? As far as I can tell there isn't a single country in the world that has money backed by gold. And, what civilization in the history of the world hasn't failed?
Afghan. This is false dichotomy between traditional banking and BTC. There are other options. The argument doesn't have to be pro traditional banking vs BTC. There are other options that may be far better for the world.
And, why exactly are the Afghan people fucked? Is it their shitty gov? Or the American Gov freezing its assets and no longer pouring money into its economy? Also, what if the Taliban or some authoritarian gov were immune to sanctions or freezing of their money in the global economy? Would that be ideal? Do we want the govs of say, N. Korea to be able to spend on anything anywhere outside of the traditional flow of money? (A counter point here would be to allow Cuba to trade without worry of the US embargo on them and whoever is fool-hearty enough to trade with them.)
I think the energy debate is so vast because, again, since it sounds like you don't like BTC, so at what point would the energy be an acceptable amount if you don't see it as value?
Expand Quote
I think the energy debate is so vast because, again, since it sounds like you don't like BTC, so at what point would the energy be an acceptable amount if you don't see it as value?[close]
this argument is a logical fallacy that sidesteps the totally valid criticism of bitcoin. its like addressing someone pointing out vast inequality and responding "at what level would inequality be acceptable". just because the answer is somewhat flexible and subjective, does not mean that it is good that bitcoin transactions use a shocking amount of energy.
bitcoin does not address our capitalist model of constant growth.
bitcoin is not decentralized, its mostly owned by "whales" and mostly mined by a small minority. it is only decentralized in theory, not in practice.
bitcoin has been around for a while and has not changed anything save getting a few people rich. it is currently being used adjacent the financial system you claim to criticize. it has not changed the economy of El Salvador, and i think its kind of insulting when people bring up third world countries in an attempt to justify their portfolio going up.
disappointing to see someone claim to be "left" but justify absurd energy use for a currency that does not improve anything for the common man and lines the pockets of the wealthy. i expect this sort of thing from reddit but not slap.
@RBC We might have to agree to disagree. Although, I do appreciate your view on this.
I might not be a huge fan of BTC, but it is because of the issue that surround it. The dislike and skepticism comes from the problems associated with it, not from knee-jerk reaction. I think there are some good that be taken from this idea and re-used in other non-traditional banking formats.
My worries still stay within the fact that there are far more efficient ways to transfer money in terms of energy. So, in terms of this role feature it is a bad currency.
In terms of loans, so Defi is basically like peer-to-peer lending with traditional currency, but with BTC? Why bother with a new currency? Why not just do peer-to peer banking with USD?
And, 1% interest doesn't sound like much, but if BTC rises, the value of my labor falls. This makes the loan more expensive. A loan that should have taken 40 hours of labor to repay could take far far more if the currency continues to increase in value. The increase in value is added interest on the loan.
This is the benefit of inflation for workers, governments, etc., if the dollar loses value (but our labor moves up with inflation... this is a big if) we actually pay back less in terms of hours of labor. Huge inflation jumps are terrible for everyone, but why should we be concerned about 2% inflation?
Moreover, wealthy people have cash, assets, and everything. If I'm holding 10 bucks and it is worth 10.50 a month later awesome, but the guy holding 10,000,000 is going to be that much richer than me. It is the same as the stock market. If my stock goes up 2% in a cool, I have another 50 bucks, but if I had millions in stocks, cool, I have another 500K to buy and sell the little people.
Money supply: Doubling in the last x years. Can you explain to me why this is bad? I honestly don't see a problem if the economy goes from 10 trillion to 21 trillion, how does this work without more money?
All govs corrupt - free market will work things out better: The libertarian belief in the market strikes me as setting up common people up for failure. Friedman, the Chicago School, Regan, Thatcher, and so on who all said government is the problem brought about 40 years of the wealthiest getting wealthier and the rug being pulled out from everyone else.
Whale Wallets: I never said you were giving me an opinion, I was asking if you could show me where you found this or could provide an easy chart for us to read. In my quick search, I don't see much to support this: https://time.com/6110392/bitcoin-ownership/
You bring up good points, but why not just take the peer-to-peer anti-traditional bank aspects that surround BTC in some cases (as it is very much a part of WallStreet as well) and use it with USD or some other currency? I'm super far left in terms of fearing the right hand of the state (police, military, etc.) and but I enjoy the left hand of the state (welfare, regulation in favor of workers/consumers, healthcare, etc.). I don't think it always works out great, but I have in the technocratic government institutions more than in a private market where the rich/powerful can prey on everyone else.
Maybe, I'm propping up aspects of society that suck, but maybe as I'm getting older my anarchist views softened and I'm become the compromising socialist. Libertarianism and anarchism both have romantic ideas that sound great on paper, but both are disasters in practice.
Expand Quote
I think the energy debate is so vast because, again, since it sounds like you don't like BTC, so at what point would the energy be an acceptable amount if you don't see it as value?[close]
this argument is a logical fallacy that sidesteps the totally valid criticism of bitcoin. its like addressing someone pointing out vast inequality and responding "at what level would inequality be acceptable". just because the answer is somewhat flexible and subjective, does not mean that it is good that bitcoin transactions use a shocking amount of energy.
bitcoin does not address our capitalist model of constant growth.
bitcoin is not decentralized, its mostly owned by "whales" and mostly mined by a small minority. it is only decentralized in theory, not in practice.
bitcoin has been around for a while and has not changed anything save getting a few people rich. it is currently being used adjacent the financial system you claim to criticize. it has not changed the economy of El Salvador, and i think its kind of insulting when people bring up third world countries in an attempt to justify their portfolio going up.
disappointing to see someone claim to be "left" but justify absurd energy use for a currency that does not improve anything for the common man and lines the pockets of the wealthy. i expect this sort of thing from reddit but not slap.
The 'waste of energy' in regards to crypto will soon be solved (or at least gradually solved) as it shifts more towards proof of stake and away from the way more energy consuming proof of work model. Also, people love to tout electric cars as if its solving anything. where does the electricity come from that people are charging these cars with? Likely a polluting source at some level, not to mention the mining for the battery components. Crypto is not going anywhere, neither are NFTs and the metaverse. Adapt or be the boomer that never learned to use the internet/a computer.
Crypto is not going anywhere, neither are NFTs and the metaverse. Adapt or be the boomer that never learned to use the internet/a computer.
Are we all going to be bag holders?
https://www.bloomberg.com/news/articles/2021-12-14/musk-bezos-lead-the-charge-of-u-s-billionaires-selling-shares?srnd=premium
Are we all going to be bag holders?
https://www.bloomberg.com/news/articles/2021-12-14/musk-bezos-lead-the-charge-of-u-s-billionaires-selling-shares?srnd=premium
I mean….how much money are we talkin here………
Expand QuoteI mean….how much money are we talkin here………[close]
Getting fucking hammered here. A year's worth of gains wiped out in 3 weeks.
I should have known as soon as the gov was going to stop pouring money into the market it'd drop. What are we supposed to do with our 401K money when the market goes down? Anyone moving shit around?
(https://i.ibb.co/7ttrn5y/Screen-Shot-2022-01-20-at-9-56-56-PM.png)
Expand QuoteI mean….how much money are we talkin here………[close]
Getting fucking hammered here. A year's worth of gains wiped out in 3 weeks.
I should have known as soon as the gov was going to stop pouring money into the market it'd drop. What are we supposed to do with our 401K money when the market goes down? Anyone moving shit around?
Expand QuoteExpand QuoteI mean….how much money are we talkin here………[close]
Getting fucking hammered here. A year's worth of gains wiped out in 3 weeks.
I should have known as soon as the gov was going to stop pouring money into the market it'd drop. What are we supposed to do with our 401K money when the market goes down? Anyone moving shit around?[close]
If it's in a 401(k) and you're not retiring anytime soon then I'd leave it. The entire market is red so where would you plan on moving it? If you withdraw it then you'll get hit with tax penalties.
Unless you are retiring in the next 5 years who gives a shit. I lost like 16k in a day. Who cares? I got like 30 years left before it matters. Red is good. Stocks are on sale. Buy buy buy.
Expand QuoteUnless you are retiring in the next 5 years who gives a shit. I lost like 16k in a day. Who cares? I got like 30 years left before it matters. Red is good. Stocks are on sale. Buy buy buy.[close]
I'm impressed with your fortitude. I think I would have had a heart attack.
I've lost about 4% of my 401K portfolio's value in the past 30 days. The value is still more than the investment, but I'm not cut out for this rollercoaster. We will see what the rest of the week brings.
As for non-401K stuff, my individual stocks are all over the place. My meme stocks and weed stocks are worthless (of course) but my regular traditional company bets are in decent shape. Thinking of just dumping the rest of the investment money I have sitting around into BTC (despite thinking its dumb and terrible for the world), being mellow and just buying SPY, or going a bit crazy putting it in QQQ. I'd buy Amazon after watching the PBS documentary on the company, but I can't afford a single share of that shit.
Gonna start investing $100 every month into my Charles Schwab account. Any penny or blue chip stocks y’all like?
How are everyone's investments doing? The DOW isn't that too from its pandemic peak.
Also, as I'm typing this out, this whole investment things strikes me as completely absurd. The avg retirement savings for someone in their thirties is around is $30,000-ish. Even if someone received some crazy 10% return on their investments, they'd only get 3K in return. That'll really help pay for retirement. ::)
Expand QuoteHow are everyone's investments doing? The DOW isn't that too from its pandemic peak.
Also, as I'm typing this out, this whole investment things strikes me as completely absurd. The avg retirement savings for someone in their thirties is around is $30,000-ish. Even if someone received some crazy 10% return on their investments, they'd only get 3K in return. That'll really help pay for retirement. ::)[close]
If your post isn’t a joke… google “compound interest” and then mess around with this thing (https://www.aarp.org/money/investing/investment_return_calculator/?cmp=KNC-DSO-COR-Core-Money-NonBrand-Phrase-30830-GOOG-MONY-InvestmentReturnsCalculator-Phrase-NonBrand&gclid=CjwKCAjwsvujBhAXEiwA_UXnAOKEoFPLx0gq9vTfbzGd_F0g42Qf9ZiEFC6jUASifKQ3OGNIAhRx8xoCgg4QAvD_BwE&gclsrc=aw.ds)
Why are you only looking at how the market has done the last five years? The majority of that was covid related madness. Take a look at what the market did in 2008, and then what it did in the years following if you want it to make more sense.
Expand QuoteWhy are you only looking at how the market has done the last five years? The majority of that was covid related madness. Take a look at what the market did in 2008, and then what it did in the years following if you want it to make more sense.[close]
While including the recent covid up and down and up might throw things off a bit, I feel starting at the bottom of the 2008/9 would paint a picture that is unlikely to occur again.
The avg rate of return on a 401K is 5% to 8%. So, I land right within the low-end of that range.
https://time.com/personal-finance/article/average-return-rate-on-401k/
If we take 8% and keep all the other numbers the same, we get 917K future dollars or 356K of today's dollars. This is monthly draw down payment of 2,500 in future dollars or 979 of today's dollars. This was the reward for giving up nearly 10% of my monthly pre-tax income.
My point is even with decent returns the amount of money most people are investing doesn't matter. Like, we are allowed to play a game that benefits us marginally, which gets us to support a system that benefits the real rich who don't need to work. Or, we can engage in risky WSB YOLO investments or crypto, which is basically the same thing.
Maybe, real estate is the only option for real returns, but only if one is wealthy enough to afford the down payment and qualify for the loan. And, it is currently cheaper to rent in most cities than it is to own. Even though this will probably change once interest rates come down.
https://www.cbsnews.com/news/real-estate-cheaper-to-buy-than-rent-four-cities-home-prices-mortgage-rates/