Investing, Stock Market and Retirement Planning Thread

Dickie Dunn
Posts: 20106
Joined: Thu Mar 26, 2015 12:12 pm
Location: Bruton Gaster

Investing, Stock Market and Retirement Planning Thread

Postby Dickie Dunn » Fri Feb 19, 2021 6:58 pm

I made the yolo decision this week to move a not insignificant portion of our long term savings into Bitcoin. Probably gonna lose my mind keeping an eye on it, but the 7% return so far this week far exceeds any MMSA return I’ve ever gotten.

MalkinIsMyHomeboy
Posts: 16857
Joined: Wed Mar 25, 2015 1:45 pm
Location: (=^_^=)

Investing, Stock Market and Retirement Planning Thread

Postby MalkinIsMyHomeboy » Fri Feb 19, 2021 7:01 pm

Speaking of DD. The little that I know about chart analysis shows Wells Fargos 14 day moving average breaking through the 30 day moving average signaling rocket ship emojis
They still haven’t fully comeback from the COVID crash last year. I like it, gonna throw some after hours money at it

willeyeam
Posts: 22867
Joined: Wed Mar 25, 2015 12:49 pm
Location: Sticky Boy

Investing, Stock Market and Retirement Planning Thread

Postby willeyeam » Fri Feb 19, 2021 7:04 pm

That was not investment advice

MalkinIsMyHomeboy
Posts: 16857
Joined: Wed Mar 25, 2015 1:45 pm
Location: (=^_^=)

Investing, Stock Market and Retirement Planning Thread

Postby MalkinIsMyHomeboy » Fri Feb 19, 2021 7:06 pm

too late I’m suing

Pavel Bure
Posts: 5097
Joined: Wed Mar 25, 2015 8:57 pm

Investing, Stock Market and Retirement Planning Thread

Postby Pavel Bure » Fri Feb 19, 2021 7:08 pm

I made the yolo decision this week to move a not insignificant portion of our long term savings into Bitcoin. Probably gonna lose my mind keeping an eye on it, but the 7% return so far this week far exceeds any MMSA return I’ve ever gotten.
IMO Bitcoin should be a set it and forget it investment. About 5ish years ago it was up beyond 25k, a bunch of people I knew were buying into the frenzy. Then it corrected down towards 10k and they had buyers remorse. I told them it was a long term play but most didn’t listen.

For the most part all BTC has done since it’s inception is increase in value. It’s at the point where mining is not even profitable any longer (I need to check this one since the big price spike the past 6 months) however I do know China is doing most of the mining and the power usage is massive.

The value IMO comes from the obvious of people giving it value but also because there is only a finite amount that will ever exist. That has built in scarcity. I also don’t think the potential of a blockchain based currency has even been touched yet.

TLDR: It’s a long term play, set it and forget it until 20 years from now.

mikey
Posts: 30159
Joined: Thu Mar 26, 2015 10:58 pm
Location: More of a before-rehab friend...
Contact:

Investing, Stock Market and Retirement Planning Thread

Postby mikey » Fri Feb 19, 2021 7:10 pm

I made the yolo decision this week to move a not insignificant portion of our long term savings into Bitcoin. Probably gonna lose my mind keeping an eye on it, but the 7% return so far this week far exceeds any MMSA return I’ve ever gotten.
*double chest pound, peace sign* good luck on your voyage, sir...

willeyeam
Posts: 22867
Joined: Wed Mar 25, 2015 12:49 pm
Location: Sticky Boy

Investing, Stock Market and Retirement Planning Thread

Postby willeyeam » Fri Feb 19, 2021 7:10 pm

Here's the thing with bitcoin. If the value is as an alternative currency.. who TF is ever going to spend it and use it with the volatility it's had?

mikey
Posts: 30159
Joined: Thu Mar 26, 2015 10:58 pm
Location: More of a before-rehab friend...
Contact:

Investing, Stock Market and Retirement Planning Thread

Postby mikey » Fri Feb 19, 2021 7:10 pm

I think there's a good case for taking $X a month and dumping it into BTC and ETH on a regular basis as a good, aggressive savings strategy...

mikey
Posts: 30159
Joined: Thu Mar 26, 2015 10:58 pm
Location: More of a before-rehab friend...
Contact:

Investing, Stock Market and Retirement Planning Thread

Postby mikey » Fri Feb 19, 2021 7:11 pm

Here's the thing with bitcoin. If the value is as an alternative currency.. who TF is ever going to spend it and use it with the volatility it's had?
It will turn from a growth venture with maturity...it's a good point by you, but eventually it outgrows "pure growth" as dumb as that is to say...

MalkinIsMyHomeboy
Posts: 16857
Joined: Wed Mar 25, 2015 1:45 pm
Location: (=^_^=)

Investing, Stock Market and Retirement Planning Thread

Postby MalkinIsMyHomeboy » Fri Feb 19, 2021 7:19 pm

It bewilders me how BTC has any sort of value

I mean, I understand in theory; it’s value is whatever someone is willing to buy/sell it at. But that concept is so abstract

ETH makes some sense to me as a software engineer since there’s more of a (virtual) resource associated with it in a way

MrKennethTKangaroo
Posts: 8579
Joined: Sat Mar 28, 2015 3:50 pm

Investing, Stock Market and Retirement Planning Thread

Postby MrKennethTKangaroo » Fri Feb 19, 2021 10:58 pm

Here's the thing with bitcoin. If the value is as an alternative currency.. who TF is ever going to spend it and use it with the volatility it's had?

The kangaroo is not smart enough to totally understand blockchain but smart enough to know that smart people see value in it. Bitcoin has been around long enough to suggest that it (unlike dogecoin) has some merit as an actual tool. You can use it for legit transaction, but who is like, actually transacting with it? Our boy musk said he would take payment for a Tesla in bitcoin but why the hell would anyone pay in bitcoin? I’ll drop 2 bitcoins to buy a depreciating asset (a car) with a currency that doubled in value in the past 12 months? I get that it has utility, but if it is ever going to actually a grown up alternative to normal money, people are going to have to want to spend it (on things other than drugs or prostitues or kidneys or whatever they use it for right now)

MalkinIsMyHomeboy
Posts: 16857
Joined: Wed Mar 25, 2015 1:45 pm
Location: (=^_^=)

Investing, Stock Market and Retirement Planning Thread

Postby MalkinIsMyHomeboy » Fri Feb 19, 2021 11:01 pm

Bitcoin was treading water for 2.5 years before the latest jump

Also all it takes is one bad hack and it’s value goes to 0

willeyeam
Posts: 22867
Joined: Wed Mar 25, 2015 12:49 pm
Location: Sticky Boy

Investing, Stock Market and Retirement Planning Thread

Postby willeyeam » Fri Feb 19, 2021 11:21 pm

Here's the thing with bitcoin. If the value is as an alternative currency.. who TF is ever going to spend it and use it with the volatility it's had?

The kangaroo is not smart enough to totally understand blockchain but smart enough to know that smart people see value in it. Bitcoin has been around long enough to suggest that it (unlike dogecoin) has some merit as an actual tool. You can use it for legit transaction, but who is like, actually transacting with it? Our boy musk said he would take payment for a Tesla in bitcoin but why the hell would anyone pay in bitcoin? I’ll drop 2 bitcoins to buy a depreciating asset (a car) with a currency that doubled in value in the past 12 months? I get that it has utility, but if it is ever going to actually a grown up alternative to normal money, people are going to have to want to spend it (on things other than drugs or prostitues or kidneys or whatever they use it for right now)
Yes, exactly

mikey
Posts: 30159
Joined: Thu Mar 26, 2015 10:58 pm
Location: More of a before-rehab friend...
Contact:

Investing, Stock Market and Retirement Planning Thread

Postby mikey » Sat Feb 20, 2021 7:05 am

Bitcoin was treading water for 2.5 years before the latest jump

Also all it takes is one bad hack and it’s value goes to 0
Yeah, that's currency and assets for ya...

count2infinity
Posts: 26568
Joined: Tue Mar 24, 2015 2:06 pm
Location: All things must pass. With six you get eggroll. No matter how thin you slice it, it's still baloney.
Contact:

Investing, Stock Market and Retirement Planning Thread

Postby count2infinity » Sat Feb 20, 2021 7:08 am

Also all it takes is one bad hack and it’s value goes to 0
I think this grossly underestimates the sophistication regarding these currencies and systems.

Pavel Bure
Posts: 5097
Joined: Wed Mar 25, 2015 8:57 pm

Investing, Stock Market and Retirement Planning Thread

Postby Pavel Bure » Sat Feb 20, 2021 11:18 am

Also all it takes is one bad hack and it’s value goes to 0
I think this grossly underestimates the sophistication regarding these currencies and systems.
Yeah for example the Mt. Gox hack was not a hacking of the blockchain. It was a hack of the exchange which allowed the criminals access to all the BTC on the exchange. That means it was theoretically traceable. My. Gox however was a lesson in bad security rather than a flaw in BTC/blockchain.

I don’t think the currency is anymore at risk of being hacked than your bank account. Why do people trust their bank account’s digital currency?

willeyeam
Posts: 22867
Joined: Wed Mar 25, 2015 12:49 pm
Location: Sticky Boy

Investing, Stock Market and Retirement Planning Thread

Postby willeyeam » Sat Feb 20, 2021 11:22 am

Because it's insured by the FDIC?

Lemon Berry Lobster
Posts: 12877
Joined: Fri May 22, 2015 3:13 pm
Location: dodint is a millennial

Investing, Stock Market and Retirement Planning Thread

Postby Lemon Berry Lobster » Sat Feb 20, 2021 11:33 am

I made the yolo decision this week to move a not insignificant portion of our long term savings into Bitcoin. Probably gonna lose my mind keeping an eye on it, but the 7% return so far this week far exceeds any MMSA return I’ve ever gotten.
I really wanted to buy between 5 to 10 bitcoins when it first came out and was under 400. Was afraid it'd collapse. What a mistake.

NTP66
Posts: 36865
Joined: Sun Oct 04, 2015 2:00 pm
Location: FUCΚ! Even in the future nothing works.

Investing, Stock Market and Retirement Planning Thread

Postby NTP66 » Sat Feb 20, 2021 11:35 am

Because it's insured by the FDIC?
Yep.

Pavel Bure
Posts: 5097
Joined: Wed Mar 25, 2015 8:57 pm

Investing, Stock Market and Retirement Planning Thread

Postby Pavel Bure » Sat Feb 20, 2021 11:46 am

Because it's insured by the FDIC?
Yep.
Obviously I knew that answer but I think it illustrates how small the difference is. This is also where the creation and use of BTC comes in. If you’re of the philosophy that a decentralized, unregulated, and non-government regulated currency is the best way to do a currency and prevent manipulation then BTC makes perfect sense.

If on the other hand you want that more rigid and for lack of a better term protected currency like we currently use then BTC seems wild and untamable.

Regardless of if it will transition to being used rather than held its hard to predict. Especially because there is more to mine and China is the biggest miner out there. (Citation needed). What happens when that last block of coins is mined and the true number of BTC is known? I have to do more research to see when it’s predicted that the last coin will be mined. Either way, I’m throwing a portion of every paycheck at it and just holding.

Dickie Dunn
Posts: 20106
Joined: Thu Mar 26, 2015 12:12 pm
Location: Bruton Gaster

Investing, Stock Market and Retirement Planning Thread

Postby Dickie Dunn » Sat Feb 20, 2021 1:41 pm

I think 2140 is the estimated end for bitcoin mining, so it'll be a while. I'm not even going to pretend to know the ins and outs of blockchain and cryptocurrency. What I do know (thanks to Twitter) is that if you invested the $1,200 stimulus check on April 15th, it would now be worth over $10,000 and in mid-December if you had spent the previous five years investing $100 a month into Bitcoin your $6,000 investment would be worth over $60,000. I don't expect it to be a continuous linear rise, but I do expect Bitcoin's value to continue increasing over time and at a higher rate than conventional investments. The next round of stimulus, if it ever happens, will make the jump continue that much quicker. BTC continues to increase while gold drops to a 7.5 month low and BTC is still less than 10% of gold's market cap. I think BTC's moonshot will be a bumpy ride, but it's definitely making it.

NTP66
Posts: 36865
Joined: Sun Oct 04, 2015 2:00 pm
Location: FUCΚ! Even in the future nothing works.

Investing, Stock Market and Retirement Planning Thread

Postby NTP66 » Sat Feb 20, 2021 3:14 pm

I just can’t bring myself to invest in Bitcoin. The ARKs are getting my play money right now.

NTP66
Posts: 36865
Joined: Sun Oct 04, 2015 2:00 pm
Location: FUCΚ! Even in the future nothing works.

Investing, Stock Market and Retirement Planning Thread

Postby NTP66 » Mon Feb 22, 2021 10:42 am

Finalized my backdoor Roth this morning. The fact that this is still a legal option makes me even more annoyed that there are limits on Roth contributions in the first place.

mikey
Posts: 30159
Joined: Thu Mar 26, 2015 10:58 pm
Location: More of a before-rehab friend...
Contact:

Investing, Stock Market and Retirement Planning Thread

Postby mikey » Mon Feb 22, 2021 10:51 am

I was absolutely smashed all weekend, so apologies if I mentioned it already...but there's a BTC ETF out there now ($BTCC), that should prove to be a value boost in the short and medium term because it will likely allow entities like Vanguard to invest in BTC under the guise of an ETF, as I doubt they can just go into crypto directly...that doubt is based on absolutely no research...but why else would there be an ETF, you can buy crytpo very, very easily now...

Willie Kool
Posts: 8999
Joined: Wed Mar 25, 2015 7:28 pm
Location: undisclosed

Investing, Stock Market and Retirement Planning Thread

Postby Willie Kool » Mon Feb 22, 2021 11:16 am

$NGAC

Who is online

Users browsing this forum: Beveridge, Dickie Dunn, Freddy Rumsen, Gabe, Google [Bot], Kane, mikey, Pavel Bure, skullman80 and 26 guests