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bitcoin

Sept. 23, 2021, 5:07 p.m.
Posts: 13526
Joined: Jan. 27, 2003

Posted by: heckler

meh. VTI, same price as a month ago and also months ago. Still +34% in YTD 2021 and +102.5% in 5 years. Still $2.70 US per share dividend. Don't listen to the news, they're just trying to drive up trading fees.

And, it's also only 25% of my "foolproofness", even though it owns 3980 diversified stocks, currently riding it out at 25.9% of asset allocation, since selling a significant chunk to rebalance to bonds.

Even emerging markets VEE, which is mostly China in it's 5235 stocks, dropped from $39.50 to $38. but still sitting at +19% since buying.... Yawwwnnn.....

New, Schmews. Buy and hold. Buy more till your dividends are juicy and hope the world ends quickly in a ball of fire if FO is right.

serious though, Evergrand defaults and goes tits up, someone else takes their place in the index. meh.

I don't pay much attention to news about crypto either. They love to tell us when it crashes but are pretty quiet about the recoveries.

I could see the fallout from evergrande not spreading too far as well.

Despite making some bad decisions with shitcoins I'm still up 100% over the last six months (for now) Being the idiot I am i converted everything into Cardano. Signs are still bullish longterm and I get about 15 coins (at current price) per month for staking which is fun.

Hindsight fallacy incoming...if I had just gone all in on cardano from the beginning I'd be making almost an extra paycheque per month in passive income. D'oh

As for ball of fire I don't think it'll be that dramatic. I'm just expecting to starve to death.


 Last edited by: Fast-Orange on Sept. 23, 2021, 6:21 p.m., edited 1 time in total.
Sept. 29, 2021, 4:41 p.m.
Posts: 3154
Joined: Nov. 23, 2002

It looks like the best results don't come from any investment guru or website, but a hamster. 

https://www.npr.org/2021/09/25/1040683057/crypto-trading-hamster-goxx-warren-buffet-s-p-500

Sept. 29, 2021, 7:39 p.m.
Posts: 13526
Joined: Jan. 27, 2003

Posted by: syncro

It looks like the best results don't come from any investment guru or website, but a hamster. 

https://www.npr.org/2021/09/25/1040683057/crypto-trading-hamster-goxx-warren-buffet-s-p-500

Not a surprise when you've been watching this stuff for a while. All the top 10 coins have pretty much the same charts. Holding or trading it doesn't really matter.

Oct. 1, 2021, 1:27 p.m.
Posts: 3834
Joined: May 23, 2006

https://www.nbcnews.com/tech/tech-news/bitcoin-miners-align-fossil-fuel-firms-alarming-environmentalists-n1280060

Oct. 2, 2021, 10:37 a.m.
Posts: 13526
Joined: Jan. 27, 2003

Posted by: tungsten

https://www.nbcnews.com/tech/tech-news/bitcoin-miners-align-fossil-fuel-firms-alarming-environmentalists-n1280060

Go Cardano!

Oct. 2, 2021, 10:39 a.m.
Posts: 13526
Joined: Jan. 27, 2003

https://vm.tiktok.com/ZMR3wwB7y/

Oct. 2, 2021, 7:05 p.m.
Posts: 3834
Joined: May 23, 2006

the inferno awaits you

Oct. 3, 2021, 11:18 a.m.
Posts: 13526
Joined: Jan. 27, 2003

Posted by: tungsten

the inferno awaits you

It awaits all of us.

Not all coins are alike though.

Bitcoin: 80 terawatt hours per year

Cardano: 6 gigawatt hours per year with 10% the market cap of bitcoin. 

Proof of stake > proof of work


 Last edited by: Fast-Orange on Oct. 3, 2021, 11:21 a.m., edited 1 time in total.
Oct. 5, 2021, 10:04 p.m.
Posts: 477
Joined: Feb. 24, 2017

Shiba coin is taking off.

Where Lambo?


 Last edited by: bux-bux on Oct. 5, 2021, 10:07 p.m., edited 1 time in total.
Jan. 5, 2022, 9:59 p.m.
Posts: 3834
Joined: May 23, 2006

The crash of crypto is bound to happen for the same reason that all Ponzi schemes eventually crumble: There is not an infinite supply of new people willing to pay ever-increasing prices for the stuff that you currently own. The more interesting question is not whether many small-time investors will lose a lot of money on their crypto investments, but what will happen when they do? 

https://inthesetimes.com/article/the-ticking-bomb-of-crypto-fascism

Jan. 5, 2022, 10:24 p.m.
Posts: 643
Joined: Oct. 23, 2003

I actually read all of that and agreed with most of it.

Jan. 6, 2022, 5:57 a.m.
Posts: 13526
Joined: Jan. 27, 2003

I agree with all of it too. 

Still made more off crypto than I did at my job last year... 

I think I'm gonna have to hire an accountant to make sense of it all.

Jan. 6, 2022, 7:43 a.m.
Posts: 828
Joined: June 17, 2016

Posted by: [email protected]

Google 'bitfinex tether'. Billions of US dollars that are being pumped into the cryptocurrency market as 'Tether' coins and supposedly backed by real dollars are most likely created out of thin air by a shady exchange.

^This is from page 2 of this thread, posted 4 years ago. The Tether ponzi is still going on and at this point there really isn't any doubt that the tether coins aren't backed by anything.

I have a fascination for financial crime and have been following the story as it develops. It's a pretty good scam: you mint a few billion tether coins on the blockchain, say each one is backed by a dollar, and call them stablecoins. Then you feed them into the many unbanked exchanges where you trade them for bitcoins. You move the bitcoins to a legit exchange where you trade them for real dollars which you then withdraw and launder. You now have a few billion dollars in your tax haven bank account and the crypto world celebrates another few billion growth in "market cap".

I've been waiting for the Tether house of cards to collapse and take the crypto world down with it but it hasn't happened yet. I just can't go on forever so it will happen eventually and it will be spectacular.

Jan. 6, 2022, 7:48 a.m.
Posts: 14922
Joined: Feb. 19, 2003

I listened to a podcast on Tether, (maybe NYT the daily?) maybe last year?  Fascinating story, wild that a clear Ponzi scheme is still going/just getting bigger.  Half the problem with crypto is the lack of oversight/regulations.

Jan. 6, 2022, 11:54 a.m.
Posts: 3834
Joined: May 23, 2006

https://youtu.be/RiHopGox5cU

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