Baroclinic Zone

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20 minutes ago, Hoth said:

The price you pay for earning power is still ultimately the most important determinant in your long run return. People who chased the market in 1929 didn't recover their losses (if they actually resisted selling during a nearly 90% decline) until the 1960s. Buyers in 2000 took 16 years to break even. Most people are not that patient. If, on the other hand, you have the fortitude to buy in the midst of a significant crisis and can stomach being in the hole for a while, the market can do great things for you over the long run. You could have picked up Apple or Amazon for a couple bucks a share in 2002 or 2003. A relatively minor sum in either company then would've netted you a multi-hundred bagger.

The long game is the only reliable way you can do this.   Selling at the bottom is nuts and timing the market is a fools errand.   I actually won the only time I timed the market.   In March 2009 I moved my entire 401K into equities.   It worked out but I’m not sure I’d do it again. During a difficult time in my life circa 1991 I had to tap into a 403b account.   The end balance was meager but now nearly 30 years later including RMDs which subtracted from value it is worth 10x that amount.   It’s a near forgotten account that I don’t even consider in my assets in my head but it’s worth enough $$ to keep us going probably for a year.   Patience.

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2 minutes ago, RUNNAWAYICEBERG said:

He sold like 2.1mill shibes back on 5/11/20 when it was worth 0.002 maybe. 

:weep:

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There's been plenty of fun to be had just in small caps this past week...forget sh*tcoins

OCGN, PIXY, PRPO UXIN....was able to bag +20% on all of these. you guys chasing coins are doing it wrong.

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1 hour ago, dendrite said:

She just said ok boomer

I like how this is being painted as a Millennial vs Boomer battle when as usual it will just be the 0.1% versus everyone else, just like everything else.

Once some establishment people make some money in crypto, they will pull up the ladder behind them same as always happens.

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2 hours ago, RUNNAWAYICEBERG said:

I’m hurt from that. 

Yeah that sucks but it's crypto casino, there will still be chances if you pick the right coin. 

I've made some mistakes in the past so now I am happy with long, steady gains. 

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1 hour ago, Supernovice said:

There's been plenty of fun to be had just in small caps this past week...forget sh*tcoins

OCGN, PIXY, PRPO UXIN....was able to bag +20% on all of these. you guys chasing coins are doing it wrong.

If you want to do your homework with crypto‘s then there’s plenty of opportunities that don’t involve as much risk as chasing a shit coin. 
 

In a mostly red day five out of six of my holdings are green candles and some of them double digit on the day.

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12 minutes ago, PhineasC said:

I like how this is being painted as a Millennial vs Boomer battle when as usual it will just be the 0.1% versus everyone else, just like everything else.

Once some establishment people make some money in crypto, they will pull up the ladder behind them same as always happens.

Yep pretty much. The larger institutions will find a way to make a boatload of fees off popular trading products regardless if they are fiduciarily responsible investments (see financial crisis).  I’m not anything near boomer-age, but I don’t see them as anything but gambling. Esp in the stage they are at now. 

If they were actually easy to use for small transactions then it might be different...though they will never remove the issue of being non-physical. 

But who knows, maybe some of these cryptos actually become useful currency outside of a niche market. Nobody’s made a great case for it yet, though. 

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49 minutes ago, PhineasC said:

I like how this is being painted as a Millennial vs Boomer battle when as usual it will just be the 0.1% versus everyone else, just like everything else.

Once some establishment people make some money in crypto, they will pull up the ladder behind them same as always happens.

I mean we are already seeing this? Tesla invested 1.5 billion into bitcoin and used it to fuel their earnings for quarter 1. Everytime Elon tweets about Doge it goes up 20% within hours, you just know hes making a bunch of money off of it.

https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

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1 hour ago, ORH_wxman said:

Yep pretty much. The larger institutions will find a way to make a boatload of fees off popular trading products regardless if they are fiduciarily responsible investments (see financial crisis).  I’m not anything near boomer-age, but I don’t see them as anything but gambling. Esp in the stage they are at now. 

If they were actually easy to use for small transactions then it might be different...though they will never remove the issue of being non-physical. 

But who knows, maybe some of these cryptos actually become useful currency outside of a niche market. Nobody’s made a great case for it yet, though. 

I think people get their back up about the speculative talk because it’s just that lol. They know it’s speculative but they don’t want to hear it.

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1 hour ago, HIPPYVALLEY said:

If you want to do your homework with crypto‘s then there’s plenty of opportunities that don’t involve as much risk as chasing a shit coin. 
 

In a mostly red day five out of six of my holdings are green candles and some of them double digit on the day.

That wasn’t directed at you- more the entire sh*tcoin movement. I know from your posts your not just blindly throwing cash at stuff.

but even beyond the sh*itcoins, I still don’t see a utility for crypto- like at all.

i just don’t get the appeal other than the returns obviously. I seriously hope all you guys get fabulously wealthy off of this. Like FU money rich. Just know when to take ur profits and run, scale in and scale out.

My pt was there many other ‘easier’ ways to make $$ in the market lately.

 

 

 

 

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1 hour ago, Supernovice said:

That wasn’t directed at you- more the entire sh*tcoin movement. I know from your posts your not just blindly throwing cash at stuff.

but even beyond the sh*itcoins, I still don’t see a utility for crypto- like at all.

i just don’t get the appeal other than the returns obviously. I seriously hope all you guys get fabulously wealthy off of this. Like FU money rich. Just know when to take ur profits and run, scale in and scale out.

My pt was there many other ‘easier’ ways to make $$ in the market lately.

 

 

 

 

Oh I know.   Taken as a whole it is mostly ridiculous.    I'm cautious and won't ever get rich from it.  I had studied cryptos out of fascination when I had some free time a few years ago.  Should have jumped into the projects I liked then but was broke and unsure.  Even though I had very little disposable income I jumped in right before the current frenzy because I had an educated feeling about what was coming.   

I have some stocks but only get slow gains because I don't currently have enough time or energy to put in the due diligence research. Folks like you and N of Pike and others have great advice and hopefully people appreciate that.    I've learned some trading strategies but it's a lot of time and energy to do it right, so I just have a few modest long term holds.  

You are correct though, the stock market is, for the most part, a much safer place if you put some effort in.  I have missed some big stock opportunities because I lacked confidence in my research.  I've learned a lot though and it has helped me make good choices in the crypto market, just need to time my exit well before the peak and be happy with my gains.  

 

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It’s fun listening to Will and Phin’s presumptive cynicism - refreshing 

lol awesome  

I wrote about it earlier but of course I ended up getting carried away and loud

I still think anybody investing in cryptocurrency is taking a Darwinian chance. 

but if people can’t see the future in this I don’t know it just looks like an easy vision to me ; eventually it will try to abase the real system of commodity-based substantiated economics and that’s going to end it pretty fast. ...regulation nightmare ... investors fleeing  and it’s values just going to plummet to where it should be which is zero. 

Actually there is one other possibility - it gets too big and causes a crippling global row to untangle because the feds are falling asleep everywhere and it’s just gonna end up causing a complete socioeconomic  catastrophe ... 

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14 minutes ago, HIPPYVALLEY said:

Oh I know.   Taken as a whole it is mostly ridiculous.    I'm cautious and won't ever get rich from it.  I had studied cryptos out of fascination when I had some free time a few years ago.  Should have jumped into the projects I liked then but was broke and unsure.  Even though I had very little disposable income I jumped in right before the current frenzy because I had an educated feeling about what was coming.   

I have some stocks but only get slow gains because I don't currently have enough time or energy to put in the due diligence research. Folks like you and N of Pike and others have great advice and hopefully people appreciate that.    I've learned some trading strategies but it's a lot of time and energy to do it right, so I just have a few modest long term holds.  

You are correct though, the stock market is, for the most part, a much safer place if you put some effort in.  I have missed some big stock opportunities because I lacked confidence in my research.  I've learned a lot though and it has helped me make good choices in the crypto market, just need to time my exit well before the peak and be happy with my gains.  

 

Can you explain to me the actual transactions taking place? And if you buy on RH is it the same or is it different than a regular crypto exchange?
 

I understand it as: USD->ETH->DOGE (or whatever) and out is likewise DOGE->ETH-> USD. Is that really what happens when you transact?

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52 minutes ago, Supernovice said:

Can you explain to me the actual transactions taking place? And if you buy on RH is it the same or is it different than a regular crypto exchange?
 

I understand it as: USD->ETH->DOGE (or whatever) and out is likewise DOGE->ETH-> USD. Is that really what happens when you transact?

RH is not the same as CB, Kraken, Binance....etc.  You don't actually own the coins....they do.  Plus you can only cash back out to USD....you can't pay anyone in crypto or buy anything, move it to another wallet, exchange it to another coin, or do anything that cryptos are meant for.  Please peeps don't buy crypto on RH just for this principal alone.... they're ass jerks!!! 

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1 hour ago, Supernovice said:

Can you explain to me the actual transactions taking place? And if you buy on RH is it the same or is it different than a regular crypto exchange?
 

I understand it as: USD->ETH->DOGE (or whatever) and out is likewise DOGE->ETH-> USD. Is that really what happens when you transact?

I don't touch RH.   I use TDAmeritrade for stocks and Coinbase for Cryptos.  Both are cash accounts.   Coinbase is US based and acts as a bank account so I don't need a separate crypto wallet which has it's pros and cons. (Also seems less sketchy than foreign exchanges)   I deposit $ into CB and it is usually available pretty quickly at which point I can purchase which available cryptos I choose.  They don't deal with Doge or many of the other shitcoins and maybe have a total of 25 or 30 available products out of the hundreds that are available on other foreign exchanges. 

The $ I have invested is pretty much all I play with so,  I just exchange cryptos for other crytpos based on trends and profits or losses. (Exchange is still subject to cap gain tax)  For instance I had some $ invested in Maker and after it ran hard this week, I exchanged it for ETH because I thought my investment in that project (mkr) had run it's course.  I mean obviously I could have converted it to cash but I wanted more ETH.  There are a few "stable coins" which are pinned to the US dollar and often traders will convert profits to those so that funds are immediately available rather than bank transfers which have a lag time.

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1 hour ago, Whineminster said:

RH is not the same as CB, Kraken, Binance....etc.  You don't actually own the coins....they do.  Plus you can only cash back out to USD....you can't pay anyone in crypto or buy anything, move it to another wallet, exchange it to another coin, or do anything that cryptos are meant for.  Please peeps don't buy crypto on RH just for this principal alone.... they're ass jerks!!! 

This is true 100 percent.  Only reason I'm on RH is because Coinbase doesn't do DOGE.  I heavily use Coinbase and Kucoin.  If Coinbase had DOGE... I'd be on there always.  But since it doesn't... I'm on RH.  If Coinbase put DOGE on there tomorrow I'd move over

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2 hours ago, yoda said:

This is true 100 percent.  Only reason I'm on RH is because Coinbase doesn't do DOGE.  I heavily use Coinbase and Kucoin.  If Coinbase had DOGE... I'd be on there always.  But since it doesn't... I'm on RH.  If Coinbase put DOGE on there tomorrow I'd move over

Voyager does, but they're a broker not an exchange so you can't swap tokens without cashing out, but at least you can move to another wallet

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8 hours ago, Bostonseminole said:

DOGE at 0.6 again.. see if it makes a run at 0.7.. would be awesome if it hit 1

.67 now. Because it doesn’t have a limited supply and is therefore inflationary, it can only go up so much as it devalues itself. Anyone who was lucky enough to get in at a penny or so and possesses 6 digit coins should think about an exit strategy as it approaches $1....cash out the retirement money before greed overtakes reason. 

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1 minute ago, RUNNAWAYICEBERG said:

.67 now. Because it doesn’t have a limited supply and is therefore inflationary, it can only go up so much as it devalues itself. Anyone who was lucky enough to get in at a penny or so and possesses 6 digit coins should think about an exit strategy as it approaches $1....cash out the retirement money before greed overtakes reason. 

Buy Guy Fieri says it's going to the moon!

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