careinke wrote:Nice rise in Bitcoin to an all time high, primarily due to institutional investing. Dang this crypto investing sure looks like a bad idea! /Sarc
My Crypto has risen:
13% in the past week
25% in the past month
200% in the past year
Outcast_Searcher wrote:careinke wrote:Nice rise in Bitcoin to an all time high, primarily due to institutional investing. Dang this crypto investing sure looks like a bad idea! /Sarc
My Crypto has risen:
13% in the past week
25% in the past month
200% in the past year
OTOH, better lucky than smart, just like the Tesla fanbois that use recent stock prices as a justification for everything, vs. logic.
The RISK ADJUSTED returns aren't in yet.
When the $300,000+ Bitcoin price re various chartists, etc. claims come true REAL SOON now, be sure and let us know.
If it works out well -- great, but it would be nice to have people admit the randomness here re trading via the "hope the other guy will pay more when it's hot" vs. the "I can win at Jeopardy vs. super smart people, justifying my taking a flyer in this" element (i.e blind luck).
For example, it's not like Bitcoins produce increasing annual earnings, which can be measured, with a product sold that can be tracked and improvements can be seen (like stocks in credible stock markets). And it's not like I've STILL seen a reasonable response why Bitcoin is better or safer than the various country based crypto currencies, which are increasingly being issued. (The IRS can already track it to enforce one to make tax payments on trades, for example). And it's not like I've seen a reasonable answer to the concept that there are an INFINITE number of cryptocurrencies (which are better than Bitcoin re security, transaction cost, transaction wait time, etc) than Bitcoin which can be issued, including by various governments. So the whole idea of "Bitcoin scarcity" seems a big bogus to me, unlike if Bitcoin were the only reasonable cryptocurrency to invest in (say, like Gold as an immutable PM), re a VALID idea of serious scarcity.
So it COULD work out great. OTOH, so could long odds bets at Vegas, or a series of roughly 50-50 bets, but it doesn't mean TAKING such bets is a sign of brilliance vs, say, having an opinion one is willing to bet on.
(Flawed as the stock market is, at least it has a LOT of data on proven solid returns, decade after decade after decade, and even century after century (though the records aren't as good before 1929).
careinke wrote:Outcast_Searcher wrote:careinke wrote:Nice rise in Bitcoin to an all time high, primarily due to institutional investing. Dang this crypto investing sure looks like a bad idea! /Sarc
My Crypto has risen:
13% in the past week
25% in the past month
200% in the past year
OTOH, better lucky than smart, just like the Tesla fanbois that use recent stock prices as a justification for everything, vs. logic.
The RISK ADJUSTED returns aren't in yet.
When the $300,000+ Bitcoin price re various chartists, etc. claims come true REAL SOON now, be sure and let us know.
If it works out well -- great, but it would be nice to have people admit the randomness here re trading via the "hope the other guy will pay more when it's hot" vs. the "I can win at Jeopardy vs. super smart people, justifying my taking a flyer in this" element (i.e blind luck).
For example, it's not like Bitcoins produce increasing annual earnings, which can be measured, with a product sold that can be tracked and improvements can be seen (like stocks in credible stock markets). And it's not like I've STILL seen a reasonable response why Bitcoin is better or safer than the various country based crypto currencies, which are increasingly being issued. (The IRS can already track it to enforce one to make tax payments on trades, for example). And it's not like I've seen a reasonable answer to the concept that there are an INFINITE number of cryptocurrencies (which are better than Bitcoin re security, transaction cost, transaction wait time, etc) than Bitcoin which can be issued, including by various governments. So the whole idea of "Bitcoin scarcity" seems a big bogus to me, unlike if Bitcoin were the only reasonable cryptocurrency to invest in (say, like Gold as an immutable PM), re a VALID idea of serious scarcity.
So it COULD work out great. OTOH, so could long odds bets at Vegas, or a series of roughly 50-50 bets, but it doesn't mean TAKING such bets is a sign of brilliance vs, say, having an opinion one is willing to bet on.
(Flawed as the stock market is, at least it has a LOT of data on proven solid returns, decade after decade after decade, and even century after century (though the records aren't as good before 1929).
Paul Tudor Jones
- Stanley Druckenmiller
- Cathie Wood
- Chamath Palihapitiya
- Mike Novogratz
- Abigail Johnson
- Jack Dorsey
All Bitcoiners. What could you possibly know that the worlds best investors don’t know?
Bitcoin has made record gains 10 of the past 12 years beating ALL other financial instruments.
BTW, I made twice as much on my Crypto Currency in the last 24 hours than my total investment in it.
Crypto, especially Bitcoin, is currently the best asymmetric strategy out there, bar none. Everybodies portfolio should hold some cryptocurrency positions.
I suggest you do a little deeper research, put a couple hundred in, and play with it. It's a fun rabbit hole to go down, and quite profitable. It's here and impossible to make go away, especially since there are sovereign countries very friendly to Crypto. As for government cryptocurrencies, why would I want the government to control my money? Be your own bank.
Outcast_Searcher wrote:careinke wrote: Paul Tudor Jones
- Stanley Druckenmiller
- Cathie Wood
- Chamath Palihapitiya
- Mike Novogratz
- Abigail Johnson
- Jack Dorsey
All Bitcoiners. What could you possibly know that the worlds best investors don’t know?
Bitcoin has made record gains 10 of the past 12 years beating ALL other financial instruments.
BTW, I made twice as much on my Crypto Currency in the last 24 hours than my total investment in it.
Crypto, especially Bitcoin, is currently the best asymmetric strategy out there, bar none. Everybodies portfolio should hold some cryptocurrency positions.
I suggest you do a little deeper research, put a couple hundred in, and play with it. It's a fun rabbit hole to go down, and quite profitable. It's here and impossible to make go away, especially since there are sovereign countries very friendly to Crypto. As for government cryptocurrencies, why would I want the government to control my money? Be your own bank.
I stated some of the risks. If you want to be in denial about them, or consider them less important than the chance to make a killing, go for it. Certainly lots of investors in high tech including Tesla fanbois are DEEP into that rabbit hole -- but it will be years before we know how that goes. Again, it's all RISK ADJUSTED returns in the end that end up in your wallet, or not.
Time will tell whether the likes of Cathie Wood are "great" investors, or took high annual fees for running high risk funds making certain assumptions about tech -- which might work out great or be a disaster for those who bet on those funds.
And if you're going to IGNORE the fact that the IRS can track and will track your Bitcoin trades and tax you on them (and I'd call that government control of your money in Bitcoin), feel free. Just remember that like investing, tax evasion has consequences if things don't go your way.
Meanwhile, I still think it's FAR more likely that in time, government issued cryptos will have things like some sort of insurance against loss, against the "pain" of being a law abiding citizen, paying your taxes, etc. Given that I'm a law abiding citizen anyway, I'll go that route if I go crypto, just like I take advantage of the FDIC for bank accounts, the SIPC for stocks, etc.
evilgenius wrote:As I've stated, I am all about investing for the electric car and artificial intelligence future. Along those lines, Quantumscape, the solid state lithium battery company, took a huge crapper on the exchange the other day. Nobody could produce a reason.
Over the weekend previous, I had been searching for new investments. A site that I go to for tech information, the register, had an article about the future of batteries. They said that solid state was a pipe dream. They expected a future of incremental improvement in something more like what we are doing now. I think their article is what shat in the stew.
Anyway, although I place a great deal of trust in the register, I wasn't going to let a deal like Quantumscape at $50 get past me. The next day, it went up enough to pad me some. The padding still isn't too thick, but it looks good from a distance.
If solid state eventually works, this company could be one of those stocks where a person doesn't actually need to own that much of it to begin with. They just have to have some stake because as it rolls out there will be so many stock splits, and the share value itself will rise so much, that a small original stake will become something quite large. Either that, or it is a pipe dream. Diversification demands not putting too much into potential pipe dreams.
About a week before I bought QS, I bought some Polaroid too. They are about to make batteries for Tesla. I figure that's a good way to get in on the incremental game. I didn't need the register to tell me that. I was really looking for something more stable, in an investing climate where there is a lot of volatility.
evilgenius wrote:QS might not even be the solid state battery company that survives. I took a chance on them when I saw they had gotten really cheap, and I couldn't see a reason for their fall. Investors may have just gotten scared. When you see that type of action in a stock, it still takes some bravery to buy. Too much bravery might, however, get one into trouble. I tried to hedge what I was doing by only buying a few shares. I needed a position that said to me every time I looked at it that I was 'in'. I didn't need one that broke me, if it kept going down or indicated a poor future for QS. I also wanted it to reflect my attempts at balancing my approach, between not only batteries, but solar, artificial intelligence and automation. I'd like to get into wind too, but don't feel as good about it for some reason.
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