Fadaar
That guy
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i put 9k into ETC and up $1700 ri nao~
edit: on Apr 6 when it was around $18. wish i had more to put in but transfer times from bank account gonna end up fucking me.
Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
i put 9k into ETC and up $1700 ri nao~
edit: on Apr 6 when it was around $18. wish i had more to put in but transfer times from bank account gonna end up fucking me.
Arden
Blackwing Lair Raider
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Yeah for sure he is calling for tighter regulation. He doesn't say "Don't invest in Bitcoin" but calling it a "Chinese financial weapon against the US" isn't exactly putting it in a positive light.
Either way, I think it's interesting that both he and Green are specifically calling out Bitcoin rather than calling out crypto altogether.
Sanrith Descartes
You have insufficient privileges to reply here.
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Buying a stock on a downward move and it keeps dropping happens every day. Most times because no technical analysis was done or if it was the stock just ended up blowing through a support level. Shit happens. I have missed price targets more times than I can count. Assuming my technical analysis was right, they "almost" always correct themselves. Sometimes it takes longer than I predict. Mr. Market is funny that way and not in a haha type of funny.
Tldr: if you like the stock then hold it and ride out the downturn, if you don't like the stock and were just trying to swing trade it for a quick buck then you have to consider cutting bait. Either way do some analysis on the price technicals to assist in making a non-emotional decision.
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Flobee
Vyemm Raider
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I would not categorize what he said as "for sure" calling for regulation. Just attention. He's only calling out BTC because its the only crypto that is endangering USD status. BTC is the signal, everything else (even legitimately good stuff) is noise in this context.
Arden
Blackwing Lair Raider
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You might be right. Then again, it wouldn't surprise me at all if Thiel was quietly accumulating some alt coin at a super discounted rate and later comes out and says "Hey, Bitcoin is a Chinese weapon, but altcoin X here solves all those problems that plague BTC."
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Tmac
Adventurer
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Oh THAT explains why the guy I know doesn’t like him. He’s a bit of a lib.
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Nope. Only thing you can do is link your Coinbase account and view what you have in Coinbase. I’m not even sure why it’s a thing, other than perhaps some day there will be more interaction between the two.
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Tmac
Adventurer
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Mine showed up for what it’s worth but it’s just silly. All it does is show what you have in Coinbase.
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They’ve let you buy crypto for some time. Problem is it’s not exactly the best way to buy it. You don’t actually have a wallet for it so you have no real control over it. Robinhood owns the coins, you just have a representation of it.
Also, fuck Robinhood in general. That said if you want to day trade crypto it’s probably not a horrible thing since it’s zero fees I think.
I’m sure there are many other reasons it’s bad smarter people here can explain.
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Arden
Blackwing Lair Raider
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Right- if you eventually want to stake your ETH, you can't move it from RH to a staking location to do so... huge disadvantage. Even if you don't care about the "your keys, your crypto" angle, not being able to pull it off the exchange it's on for any reason is enough to avoid using RH.
I made the mistake of buying my ETH on Paypal without realizing they do the same bullshit. I took a loss selling and rebuying on Binance.
There's also a dirty little secret about RH: they make money off your trades even without charging you a fee. That's how they stay in business. When you set a limit buy, they wait until the price drops fractionally lower than your limit and then buy and keep the difference. Same with your sales. They wait until the price rises fractionally higher than the price you set, and then they sell. Shady af.
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Alright, I’ve got some coin now. Maybe I’ll buy another $20k worth in the coming month or something, we’ll see how it goes. If ETH does what a lot of people here and elsewhere says it will this year this is a healthy start I guess. Would have been nice I had I got a cost average at 1800 or less but waddayagonnado.
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Tmac
Adventurer
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Feel free to DM me, but where the eff do you get all this cashflow??
My wife and I have $38k in savings but I feel iffy about putting into investments.
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No, but they are doing a partnership to let you take out loans against you BTC through BlockFI.
You probably won't see real direct crypto options through the big houses like Fidelity until next year. You're more likely to see a BTC ETF this year and be able to buy into it through the regular markets.
Just saw a great video on the "Buy assets and never sell them" process and I think I'm becoming a convert.
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No big secret really! I have a base salary of $140k a year. Not married, never had kids. I’ve owned a couple of BMWs, a Corvette for example, but now I drive a Civic. I could get a much more expensive car but I choose to avoid payments, expensive tires, etc. At some point I started to view money spent on some frivolous things as missed opportunity
I’m not a miser by any means, I go out to eat a lot with friends, go to events (or did before COVID,) buy myself things I want within reason, go on decently nice vacations, etcetera. I just make a decent salary and get lucky trading every now and again. Helps not having much overhead like payments, kids, a big house, etc. Women I date tend to be in the same financial situation as me so I’ve never had to support anyone in any way.
I guess that’s about it really. Just being smart-ish about money with some luck added in (ie making $40k on AMC back in January.)
I definitely wouldn’t have $38k in cash not doing anything but you don’t want to be crazy with it either. I’d honestly probably buy some of the near-NAV SPACs with it. There are plenty of below NAV SPACs right now too. They’re really not a gamble whatsoever and they’ll beat the shit out of cash.
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