OT: Ray, how's your Bitcoin investment going?

[Mark McM]

Originally Posted by Michael D

Oh the hubris to actually think everyone that you disagree with is a fool.

At least I know the difference between investment and speculation.

[deluz]

It is also about market manipulation.
An investor or group investors could start buying significant volumes of Bitcoin which drives the price up and encourages others to start buying.
Then when the price peaks they dump their large holdings.

[verticaldoug]

2020 'Ok Boomer!'
2021 'have fun staying poor!'
2022 'stop dunking on crypto, people are losing everything!'

[Michael D]

Originally Posted by Mark McM

At least I know the difference between investment and speculation.

Do you have a point here?

Didn’t think so

[redir]

Originally Posted by mstateglfr

^ Definitely someone who advised buying Worldcom stock back in July 2000.

Buying the dip can be a smart approach to specific stock buying if the stock has reason to be worth more than it currently is.
Pure speculation is not a valid investment strategy. Pure speculation may pay off, but that doesnt mean its smart.

As for your general rule of crypto investing, that is no different from any other investing. You shouldnt invest with money you need. That goes for Apple, Ford, BTC, or anything else.

Never heard of worldstock before but I bet if you buy Russian Rubles right now they will be worth a fortune!

Originally Posted by Michael D

You're 100% right. It might dip a bit more but it's gonna go back up.

Buy when there's blood in the streets (everyone crying about it being over, and told ya soers suddenly come out of the woodwork en masse acting like they knew all along).

Usual response to the nay sayers: "then short it"

Here's another good indicator LOL! When the Chinese government starts making ridiculous FUD attempts like this then chances are they are thinking it's the bottom and going to go full in

https://finbold.com/china-warns-bitc...-market-crash/

---

And for all the naysayers here again I will say that gold is nothing more than a shiny metal that everyone agrees has value.

One of the crypto projects I am heavily involved in now is using the power of crypto to fund a nonprofit charity. Investors invest to make money, of course, but the buy and sell tax goes to a charity wallet. Not all crypto is about dark web drug deals and speculation. There are a lot of open and honest cryto projects out there that have real world value to them.

Just like in the 'cash' world there are good uses and corruption.

[tomato coupe]

Originally Posted by Michael D

Usual response to the nay sayers: "then short it"

Shorting crypto is just another form of speculation.

[tomato coupe]

Originally Posted by redir

And for all the naysayers here again I will say that gold is nothing more than a shiny metal that everyone agrees has value.

Gold has an underlying value because it has many uses, some of which it is uniquely suitable.

[ripvanrando]

Unlike the tulip bulb speculative bubble or craze from 1634-37, one could allegedly eat the worthless bulbs when the music stopped.

[redir]

Originally Posted by tomato coupe

Gold has an underlying value because it has many uses, some of which it is uniquely suitable.

True, so do diamonds too. Digital assets can't claim that, at least yet anyway.

[Louis]

Originally Posted by tomato coupe

Shorting crypto is just another form of speculation.

Shorting just about anything is usually speculation.

[Black Dog]

Originally Posted by redir

Never heard of worldstock before but I bet if you buy Russian Rubles right now they will be worth a fortune!



Here's another good indicator LOL! When the Chinese government starts making ridiculous FUD attempts like this then chances are they are thinking it's the bottom and going to go full in

https://finbold.com/china-warns-bitc...-market-crash/

---

And for all the naysayers here again I will say that gold is nothing more than a shiny metal that everyone agrees has value.

One of the crypto projects I am heavily involved in now is using the power of crypto to fund a nonprofit charity. Investors invest to make money, of course, but the buy and sell tax goes to a charity wallet. Not all crypto is about dark web drug deals and speculation. There are a lot of open and honest cryto projects out there that have real world value to them.

Just like in the 'cash' world there are good uses and corruption.

Are those charities helping to mitigate the huge environmental harm that crypto causes?

[mstateglfr]

Originally Posted by redir

Never heard of worldstock before but I bet if you buy Russian Rubles right now they will be worth a fortune!

Nobody should be allowed to give out financial advice, even free advice, if they don't know about Worldcom.
Knowing about a financial investment scandal that happened this century and was larger than enron should be a requirement.

[verticaldoug]

Originally Posted by mstateglfr

Nobody should be allowed to give out financial advice, even free advice, if they don't know about Worldcom.
Knowing about a financial investment scandal that happened this century and was larger than enron should be a requirement.

The issue with crypto is it just a generic term for a unregulated shadow banking system. I don't have an issue with bitcoin, but I just don't see a use case for it beyond speculation.
Y
Everything else crafted to serve bitcoin or copy bitcoin- stablecoins, exchanges, DeFi is just unregulated banking with everyone trying to take as much spread as they can.

If we renamed the crypto ecosystem the Pay-Day Ecosystem, most people probably would not feel too comfortable. The crypto ecosystem looks and operates on the same principle as payday lenders in my opinion. Shoddy auditors, off-shore unregulated entities with regulatory-lite jurisdictions.

I think Wold.com is less applicable here and the case of Robert Allen Sanford and his Sanford Financial Group has more relevance.

[goonster]

Originally Posted by redir

gold is nothing more than a shiny metal that everyone agrees has value.

c.f. commodity.

[redir]

Originally Posted by mstateglfr

Nobody should be allowed to give out financial advice, even free advice, if they don't know about Worldcom.
Knowing about a financial investment scandal that happened this century and was larger than enron should be a requirement.

Did you think I am giving out financial advice? And cripes I'm just joking. Hence my jab at the Iraqi dinar scam.

Originally Posted by Black Dog

Are those charities helping to mitigate the huge environmental harm that crypto causes?

This particular project is not a proof of work. The charity is for veterans and frankly probably is better for the environment then electric cars are