Bitcoin/Ethereum/Litecoin

[Roger Roger]

This will be interesting:

Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

Tesla has "suspended vehicle purchases using bitcoin," Elon Musk said, citing environmental concerns.

www.cnbc.com

BTC down over 9% today already. The sham Dogecoin is down double digits. I wonder how many idiots will lose their life savings from that?

Man I bet reddit is melting down. The Venn diagram of •coin fans and musk-worshippers seems to be a circle.

 

[roundout]

Getting killed in ETH.... Luckily I only had a little bit in there, but yikes!

 

[ChasenSFO]

This will be interesting:

Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

Tesla has "suspended vehicle purchases using bitcoin," Elon Musk said, citing environmental concerns.

www.cnbc.com

BTC down over 9% today already. The sham Dogecoin is down double digits. I wonder how many idiots will lose their life savings from that?

I don't know anyone who lost their life savings, but my friend and his room mates made $160-240k each off it. My buddy literally called into work and said "I made close to a quarter million on Dogecoin (off a $2k investment) so just throw my crap out because you'll never see me again". LOL. He decided to re-invest most of it in other crypto. He's far and away the person I know who did the best, but I seem to know dozens of people who made over $10k on Dogecoin. A few of them even told me to invest but I've been dumping all my money into finishing my flight training so I never had enough to make an investment worthwhile.

 

[Cherokee_Cruiser]

I don't know anyone who lost their life savings, but my friend and his room mates made $160-240k each off it. My buddy literally called into work and said "I made close to a quarter million on Dogecoin (off a $2k investment) so just throw my crap out because you'll never see me again". LOL. He decided to re-invest most of it in other crypto. He's far and away the person I know who did the best, but I seem to know dozens of people who made over $10k on Dogecoin. A few of them even told me to invest but I've been dumping all my money into finishing my flight training so I never had enough to make an investment worthwhile.

Dogecoin is not an investment. It was a joke. Nothing but pure hype. The first batch made out like bandits, I'd hate to be the ones who come late to that party.

 

[JEP]

Dogecoin is not an investment. It was a joke. Nothing but pure hype. The first batch made out like bandits, I'd hate to be the ones who come late to that party.

well....

in·vest·ment
/inˈves(t)mənt/
noun
1. the action or process of investing money for profit or material result.

seems to fit....

 

[GypsyPilot]

I don't know anyone who lost their life savings, but my friend and his room mates made $160-240k each off it. My buddy literally called into work and said "I made close to a quarter million on Dogecoin (off a $2k investment) so just throw my crap out because you'll never see me again". LOL. He decided to re-invest most of it in other crypto. He's far and away the person I know who did the best, but I seem to know dozens of people who made over $10k on Dogecoin. A few of them even told me to invest but I've been dumping all my money into finishing my flight training so I never had enough to make an investment worthwhile.

There always another side to the trade. For those that made bank, there are others that have lost their shirts. Crypto, GME, and AMC are going to do down in history for destroying the life savings of people that are financially vulnerable.

 

[GypsyPilot]

well....

in·vest·ment
/inˈves(t)mənt/
noun
1. the action or process of investing money for profit or material result.

seems to fit....

I was in crypto around 2014 when Doge was created. He’s right, it was made as a joke. It’s a BS coin that has turned into a pump and dump scheme.

 

[Cherokee_Cruiser]

I was in crypto around 2014 when Doge was created. He’s right, it was made as a joke. It’s a BS coin that has turned into a pump and dump scheme.

Are you the FDX guy based in HKG? If so, I think we were talking about BABA here a while ago. IIRC you had bought that a while ago and were holding it long term. I bought a bunch last week.

 

[Cherokee_Cruiser]

Bitcoin plunges below $40,000 as China widens its crypto crackdown

Bitcoin and other cryptocurrencies are plunging as anxiety spreads through the market — this time, after China took more steps to crack down on the digital coins.

www.cnn.com

 

[GypsyPilot]

Are you the FDX guy based in HKG? If so, I think we were talking about BABA here a while ago. IIRC you had bought that a while ago and were holding it long term. I bought a bunch last week.

Yep, that’s me! I still think BABA is an excellent long term value play.

 

[ChasenSFO]

Dogecoin is not an investment. It was a joke. Nothing but pure hype. The first batch made out like bandits, I'd hate to be the ones who come late to that party.

Same with Hertz, Game Stop, ect. But hey, that's the way the world works now, and money is money. Hoping to get on the next massive middle finger to the market early on. Had I invested in Gamestop or Dogecoin when my friends told me to, I'd have all my ratings by now. I find it hilarious that every person I know who's make a killing in the stock market in the last few years did it on reddit/internet hypes and nobody I know responsibly investing the traditional way has found any run away success. While you can for sure lose all or most of what you put in in much greater likliehood than traditional investing, I see no harm in putting together $1-2k and investing and selling the stock while it's hot rather than seeing how long I can ride it. I don't like to tie up my money, mostly because I never have much of it, so internet craze stock inflation is about where my interest in investing at this point in my life starts and ends personally. Lol.

 

[GypsyPilot]

Same with Hertz, Game Stop, ect. But hey, that's the way the world works now, and money is money. Hoping to get on the next massive middle finger to the market early on. Had I invested in Gamestop or Dogecoin when my friends told me to, I'd have all my ratings by now. I find it hilarious that every person I know who's make a killing in the stock market in the last few years did it on reddit/internet hypes and nobody I know responsibly investing the traditional way has found any run away success. While you can for sure lose all or most of what you put in in much greater likliehood than traditional investing, I see no harm in putting together $1-2k and investing and selling the stock while it's hot rather than seeing how long I can ride it. I don't like to tie up my money, mostly because I never have much of it, so internet craze stock inflation is about where my interest in investing at this point in my life starts and ends personally. Lol.

You might as well say you wish you picked the winning lottery numbers last week. Hoping to make it big by gambling money on meme stocks is statistically a losing proposition.

 

[mikecweb]

Same with Hertz, Game Stop, ect. But hey, that's the way the world works now, and money is money. Hoping to get on the next massive middle finger to the market early on. Had I invested in Gamestop or Dogecoin when my friends told me to, I'd have all my ratings by now. I find it hilarious that every person I know who's make a killing in the stock market in the last few years did it on reddit/internet hypes and nobody I know responsibly investing the traditional way has found any run away success. While you can for sure lose all or most of what you put in in much greater likliehood than traditional investing, I see no harm in putting together $1-2k and investing and selling the stock while it's hot rather than seeing how long I can ride it. I don't like to tie up my money, mostly because I never have much of it, so internet craze stock inflation is about where my interest in investing at this point in my life starts and ends personally. Lol.

I haven’t touched the stonk bro picks and have done very well in the past 5 years.

 

[Cherokee_Cruiser]

Same with Hertz, Game Stop, ect. But hey, that's the way the world works now, and money is money. Hoping to get on the next massive middle finger to the market early on. Had I invested in Gamestop or Dogecoin when my friends told me to, I'd have all my ratings by now. I find it hilarious that every person I know who's make a killing in the stock market in the last few years did it on reddit/internet hypes and nobody I know responsibly investing the traditional way has found any run away success. While you can for sure lose all or most of what you put in in much greater likliehood than traditional investing, I see no harm in putting together $1-2k and investing and selling the stock while it's hot rather than seeing how long I can ride it. I don't like to tie up my money, mostly because I never have much of it, so internet craze stock inflation is about where my interest in investing at this point in my life starts and ends personally. Lol.

No, Hertz and GameStop are legitimate companies that have been around for decades, with a business model, profits and losses. Hertz declared BK because the pandemic dried up their business. GameStop’s frenzywas because a whole lot of hedge funds had short positions, more than even the outstanding amount of GME stock. Reddit crowd figured it out and decided to buy like crazy.


As for your friends, everyone is an expert in the biggest bull market in history of mankind. Late March 2020-Present). And as for your comment about not wanting to hold long term and just do “internet stock craze inflation,” I hope you realize that is the definition of gambling.

 

[ChasenSFO]

You might as well say you wish you picked the winning lottery numbers last week. Hoping to make it big by gambling money on meme stocks is statistically a losing proposition.

Doesn't have to be meme stocks, I'd rather if it is a legitimate company. But it seems like if you're patient and wait to see what mayhem the internet is causing and getting in before it peaks, the odds are favorable. Not sure when/what kind of stocks it'll be, but there will surely be another random stock that the interweb blows up sooner or later. When it does, I'll only jump on for a very short time to get money and get out, and if I miss the peak, oh well, lesson learned. Not like I'd bet the house.

Had I invested in GME and Dogecoin when I wanted to but couldn't risk the money trying to finish my ratings, I would have made a ton and pulled out before the bust safely for both. I do not plan on trusting an internet sensation to last more than a few days. I told my Reddit addicted rich tech friends (aka most people I grew up with that didn't move away LOL) to let me know next time and I'll throw in a bit and pull it out while it's still red hot to be safe if all goes well.

Beyond that, when I have money I'm just going to invest in real estate. I'd rather have something tangible and my brother changed careers to property management anyway and is kicking ass. Seems like buying a house and handing it over to firms like his is way less work than keeping up with stocks and learning the market. At least rent is consistent.

 

[GypsyPilot]

Doesn't have to be meme stocks, I'd rather if it is a legitimate company. But it seems like if you're patient and wait to see what mayhem the internet is causing and getting in before it peaks, the odds are favorable. Not sure when/what kind of stocks it'll be, but there will surely be another random stock that the interweb blows up sooner or later. When it does, I'll only jump on for a very short time to get money and get out, and if I miss the peak, oh well, lesson learned. Not like I'd bet the house.

Had I invested in GME and Dogecoin when I wanted to but couldn't risk the money trying to finish my ratings, I would have made a ton and pulled out before the bust safely for both. I do not plan on trusting an internet sensation to last more than a few days. I told my Reddit addicted rich tech friends (aka most people I grew up with that didn't move away LOL) to let me know next time and I'll throw in a bit and pull it out while it's still red hot to be safe if all goes well.

Beyond that, when I have money I'm just going to invest in real estate. I'd rather have something tangible and my brother changed careers to property management anyway and is kicking ass. Seems like buying a house and handing it over to firms like his is way less work than keeping up with stocks and learning the market. At least rent is consistent.

So buy low, sell high? I wish I’d thought of that!

Dude, with any of those you could’ve lost your ass immediately. It happens all the time.

 

[ChasenSFO]

So buy low, sell high? I wish I’d thought of that!

Dude, with any of those you could’ve lost your ass immediately. It happens all the time.

Theoretically, but I wouldn't have. Lol. I didn't say buy low per say, ideally I'd be able to do it within 24 hours and make some money, don't want to tempt fate and leave it too long. We'll see. I mean, worked for enough people I know in real life, 2-3 times now not just once, for it to seem plausible. And I won't be dropping big money like they did, so I'm not worried. If I lose it, oh well, it won't be enough to ruin my life or even my month.

I don't know anything about stocks, but I know what I've observed. And what I observed was ratchet ass people who I'd never in my life expect to own stock making away like bandits multiple times. All they did was listen to our friends, only had money invested for 1-3 days. So, it's not a pipe dream, it's a possibility.

 

[mikecweb]

And this is why everything about Wall Street bets is so terrible. There's not a single bit of effort to learn anything. It's just getting in on the next middle finger to rich guys. (the rich guys made more on those trades than you'd believe). And if you think WSB doesn't have big money behind it you are kidding yourself. Do yourself a favor and learn and make a little. You'll make a lot more in the long run.

 

[Dr. Sprite]

WSB was founded on posting loss porn. It’s exactly where you should go for investment advice. Just do the opposite. It’s funny that GME made them what they are today yet it’s probably the safest bet out there.

 

[Minuteman]

I understand only a third of these words, but I think I get the jist of it.

https://twitter.com/x/status/1396100822245777408