Crypto and the Stock Market, I haz questions....

[SolarHawk]

Ok my HORT brethren, I've always been a 401k guy. I've got some investment properties but I've never really gotten into the crypto or stocks game. What do you guys like to use for crypto investing and stocks? I've heard of coin base and Robin Hood, but that's about it. Second question, how is everyone feeling about where we are at as far as buying opportunities? I personally think things are gonna tank further in the coming months, but maybe not. Any guidance from you millionaires with huge peens and/or lady parts would be greatly appreciated!

 

[Nole Lou]

Ok my HORT brethren, I've always been a 401k guy. I've got some investment properties but I've never really gotten into the crypto or stocks game. What do you guys like to use for crypto investing and stocks? I've heard of coin base and Robin Hood, but that's about it. Second question, how is everyone feeling about where we are at as far as buying opportunities? I personally think things are gonna tank further in the coming months, but maybe not. Any guidance from you millionaires with huge peens and/or lady parts would be greatly appreciated!

I'm not an expert by any means, but I've been about 70% cash since January. I'm not someone who trades much or tries to time the market, but I'm getting close enough to retirment I'm willing to risk giving up a little upside to avoid catastrophe in case this is "the big one". And hope I can buy in and make out on the way up. This doesn't feel near the bottom to me.

As far as crypto, I just don't buy it as anything other than a casino. And that's fine if people want to play that game, but I have almost zero faith anymore for it being a real thing.

Literally, the vision for Crypto was more convincing 10 years ago than it is today, despite a decade to mature.

- the idea of it being a digital currency for peer to peer transactions has been filled by venmo, cashapp, etc
- Its still not widely accepted or convenient for any goods after 10 years
- its inconvenient and super expensive to transact with
- The theoretocal idea that it was safer than a bank has been largely been shown to be practically false, as many people have been screwed over by innumerable bitcoin exchanges, scams, hacks, etc. The chance of having $50k in a bitcoin exchange and not being able to get it out is a lot higher than having it in Wells Fargo and not being able to get it out.

Now, some of those things are U.S. centric, and other parts of the world have less reliable banking. The fact that it was used in Ukraine for people to get their money out, or to get aid in, initially looked like a major real world use victory for crypto. But if you were in the Ukraine and transferred your life savings to crypto to get it out, you've lost half your life savings (if you can even get it back out). The $1000 crypto you donated has lost half its value. Even in the best real world use we've seen, the value is way too volatile to be actually be a good solution.

I'm seeing much, much less compelling pro-crypto stuff hit the mainstream lately. The most positive stuff I'm seeing in the mainstream is all "well, it was never really about currency, the REAL value of the blockchain is contracts and housing deeds."

That's not to say it won't go up or down many times or you can't make money on it. Hell, I wish my reaction back when I first heard about it was "Boy, this doesn't sound convincing at all, and I'm going to put $10k in it." Then I'd be retired today.

But I'm less convinced than I ever was that its an investment rather than just speculation.

 

[ConvenientParking]

Huge lady parts here. I would say good time to invest in water. First your own well. Then half your portfolio.

 

[SolarHawk]

I'm not an expert by any means, but I've been about 70% cash since January. I'm not someone who trades much or tries to time the market, but I'm getting close enough to retirment I'm willing to risk giving up a little upside to avoid catastrophe in case this is "the big one". And hope I can buy in and make out on the way up. This doesn't feel near the bottom to me.

As far as crypto, I just don't buy it as anything other than a casino. And that's fine if people want to play that game, but I have almost zero faith anymore for it being a real thing.

Literally, the vision for Crypto was more convincing 10 years ago than it is today, despite a decade to mature.

- the idea of it being a digital currency for peer to peer transactions has been filled by venmo, cashapp, etc
- Its still not widely accepted or convenient for any goods after 10 years
- its inconvenient and super expensive to transact with
- The theoretocal idea that it was safer than a bank has been largely been shown to be practically false, as many people have been screwed over by innumerable bitcoin exchanges, scams, hacks, etc. The chance of having $50k in a bitcoin exchange and not being able to get it out is a lot higher than having it in Wells Fargo and not being able to get it out.

Now, some of those things are U.S. centric, and other parts of the world have less reliable banking. The fact that it was used in Ukraine for people to get their money out, or to get aid in, initially looked like a major real world use victory for crypto. But if you were in the Ukraine and transferred your life savings to crypto to get it out, you've lost half your life savings (if you can even get it back out). The $1000 crypto you donated has lost half its value. Even in the best real world use we've seen, the value is way too volatile to be actually be a good solution.

I'm seeing much, much less compelling pro-crypto stuff hit the mainstream lately. The most positive stuff I'm seeing in the mainstream is all "well, it was never really about currency, the REAL value of the blockchain is contracts and housing deeds."

That's not to say it won't go up or down many times or you can't make money on it. Hell, I wish my reaction back when I first heard about it was "Boy, this doesn't sound convincing at all, and I'm going to put $10k in it." Then I'd be retired today.

But I'm less convinced than I ever was that its an investment rather than just speculation.

Yeah I’m still on the fence with crypto. If I’m gonna throw some cash at it it would be either bitcoin or ethereum(sp?). There are legitimate players still very high on bitcoin long term and I think it could become mainstream some day, but like you say, it’s still very volitale. I’m sitting on a lot of cash right now waiting to buy. Probably gonna see what happens over the summer before I decide what to do.

 

[onlyTheObvious]

You can buy bitcoin via PayPal. I think.

I thought about buying a $200 worth just so I had an easy way to see what it is doing but decided not to. I would likely never commit to investing significant dollars into it so I figured why bother.

 

[ATLNole1]

It might go up or it might go down.

 

[Nole Lou]

Yeah I’m still on the fence with crypto. If I’m gonna throw some cash at it it would be either bitcoin or ethereum(sp?). There are legitimate players still very high on bitcoin long term and I think it could become mainstream some day, but like you say, it’s still very volitale. I’m sitting on a lot of cash right now waiting to buy. Probably gonna see what happens over the summer before I decide what to do.

Yeah, I think its intriguing. While I don't know if I'll ever understand the tech, I "get it" as a theoretical product.

I've just seen extremely little progress toward it mainstreaming as a product in a decade now. I mean, its more hyped now, certainly more people have heard about it and bought it, but its not any closer to being mainstream as an actual tool. Its probably actually gone backwards really. Transactions are more expensive, take longer, and the "currency" is now understood to fluctuate wildly.

And I don't believe the hype at all when people say "Don't worry, people didn't get on board with the internet either for a long time." To me, that's bullshit and only works on the <30 year old crowd who wasn't there. 90% of the people who were exposed to the internet immediately understood what it did and were like "holy shit" I've got to have it. Despite the fact that the few dissenters will be memed forever, the idea that 10years after AOL launched the vast majority of people were saying "Wait, why would I want this and what is it used for?" about the internet is simply laughable.

 

[luvmyhawks]

Yeah I’m still on the fence with crypto. If I’m gonna throw some cash at it it would be either bitcoin or ethereum(sp?). There are legitimate players still very high on bitcoin long term and I think it could become mainstream some day, but like you say, it’s still very volitale. I’m sitting on a lot of cash right now waiting to buy. Probably gonna see what happens over the summer before I decide what to do.

‘Start dollar cost averaging in. Some great valuation in this market right now.

 

[tumorboy]

You can buy bitcoin via PayPal. I think.

I thought about buying a $200 worth just so I had an easy way to see what it is doing but decided not to. I would likely never commit to investing significant dollars into it so I figured why bother.

Saw a Bitcoin trading machine at a KwikTrip in Brookfield. Not sure what the fees are.

 

[Hondo_11]

Yeah I’m still on the fence with crypto. If I’m gonna throw some cash at it it would be either bitcoin or ethereum(sp?). There are legitimate players still very high on bitcoin long term and I think it could become mainstream some day, but like you say, it’s still very volitale. I’m sitting on a lot of cash right now waiting to buy. Probably gonna see what happens over the summer before I decide what to do.

Look at the stocks of the companies that “mine” CCs.

 

[1inamillion]

I'm not an expert by any means, but I've been about 70% cash since January. I'm not someone who trades much or tries to time the market, but I'm getting close enough to retirment I'm willing to risk giving up a little upside to avoid catastrophe in case this is "the big one". And hope I can buy in and make out on the way up. This doesn't feel near the bottom to me.

As far as crypto, I just don't buy it as anything other than a casino. And that's fine if people want to play that game, but I have almost zero faith anymore for it being a real thing.

Literally, the vision for Crypto was more convincing 10 years ago than it is today, despite a decade to mature.

- the idea of it being a digital currency for peer to peer transactions has been filled by venmo, cashapp, etc
- Its still not widely accepted or convenient for any goods after 10 years
- its inconvenient and super expensive to transact with
- The theoretocal idea that it was safer than a bank has been largely been shown to be practically false, as many people have been screwed over by innumerable bitcoin exchanges, scams, hacks, etc. The chance of having $50k in a bitcoin exchange and not being able to get it out is a lot higher than having it in Wells Fargo and not being able to get it out.

Now, some of those things are U.S. centric, and other parts of the world have less reliable banking. The fact that it was used in Ukraine for people to get their money out, or to get aid in, initially looked like a major real world use victory for crypto. But if you were in the Ukraine and transferred your life savings to crypto to get it out, you've lost half your life savings (if you can even get it back out). The $1000 crypto you donated has lost half its value. Even in the best real world use we've seen, the value is way too volatile to be actually be a good solution.

I'm seeing much, much less compelling pro-crypto stuff hit the mainstream lately. The most positive stuff I'm seeing in the mainstream is all "well, it was never really about currency, the REAL value of the blockchain is contracts and housing deeds."

That's not to say it won't go up or down many times or you can't make money on it. Hell, I wish my reaction back when I first heard about it was "Boy, this doesn't sound convincing at all, and I'm going to put $10k in it." Then I'd be retired today.

But I'm less convinced than I ever was that its an investment rather than just speculation.

Lol