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  1. #121
    banned NorwichGrad's Avatar
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    Hey gang.

    Check this out:

    I am long on physical gold, physical silver, and some cryptos - particularly BTC. Although I strongly believe bitcoin is the bait and fedcoin is the trap. It will actually help usher in cashless society. But that's beside the point. I will play the game.

    Speaking of playing the game. As the economy tanks, the market will continue to set records thanks to the fed's unlimited QE to infinity. The melt UP will continue until the system finally implodes. So I have decided to play their game as well. It's the practical thing to do when I think about it. Principle will NOT feed my family. If I make digital fiat trading, I can always cash out and get more physical gold and silver, and maybe guns and goats.

    The federal reserve has achieved its mission of becoming the 'lender and buyer of last resort." The market will skyrocket regardless of the next POTUS.

    So, favor, fellas.

    Please recommend a trading platform so I can start playing their game. thanks in advance. I have heard of robinhood. I am very new to trading so any help is appreciated.
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  2. #122
    Registered User Jtbny's Avatar
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    Originally Posted by NorwichGrad View Post
    Hey gang.

    Check this out:

    I am long on physical gold, physical silver, and some cryptos - particularly BTC. Although I strongly believe bitcoin is the bait and fedcoin is the trap. It will actually help usher in cashless society. But that's beside the point. I will play the game.

    Speaking of playing the game. As the economy tanks, the market will continue to set records thanks to the fed's unlimited QE to infinity. The melt UP will continue until the system finally implodes. So I have decided to play their game as well. It's the practical thing to do when I think about it. Principle will NOT feed my family. If I make digital fiat trading, I can always cash out and get more physical gold and silver, and maybe guns and goats.

    The federal reserve has achieved its mission of becoming the 'lender and buyer of last resort." The market will skyrocket regardless of the next POTUS.

    So, favor, fellas.

    Please recommend a trading platform so I can start playing their game. thanks in advance. I have heard of robinhood. I am very new to trading so any help is appreciated.
    Depends on what you're looking to trade and how in-depth you're going to get. Think Or Swim is decent but for me is too much eye candy that I don't need complicating the process. I use Robinhood for my "play account" which I use to swing trade stocks and buy and sell options. It's easier and faster for those. The options are easy to understand but I wouldn't use it for harder options plays (things like Iron Condors ect), just to buy/sell calls/puts.

    If you don't know anything about options I highly suggest you learn at min the basics. If you are buying stocks in 100 blocks or selling them in 100 blocks there no reason to not buy/sell options so you're paid to actually own the stock. If you're looking to hedge against a downturn on stocks longer term then buying puts/selling calls is like buying insurance.

    Also, if you're going to day trade on any platform you'll need >25k in your account. You can do 3 day trades in a rolling 5 day span before you get marked a pattern day trader and will have your account restricted unless you have a balance of 25k+ in cash/equites. Another fine example of the govt protecting us from ourselves /rolleyes
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  3. #123
    Getting Toned steffo99's Avatar
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    Originally Posted by NorwichGrad View Post
    Hey gang.

    Check this out:

    I am long on physical gold, physical silver, and some cryptos - particularly BTC. Although I strongly believe bitcoin is the bait and fedcoin is the trap. It will actually help usher in cashless society. But that's beside the point. I will play the game.

    Speaking of playing the game. As the economy tanks, the market will continue to set records thanks to the fed's unlimited QE to infinity. The melt UP will continue until the system finally implodes. So I have decided to play their game as well. It's the practical thing to do when I think about it. Principle will NOT feed my family. If I make digital fiat trading, I can always cash out and get more physical gold and silver, and maybe guns and goats.

    The federal reserve has achieved its mission of becoming the 'lender and buyer of last resort." The market will skyrocket regardless of the next POTUS.

    So, favor, fellas.

    Please recommend a trading platform so I can start playing their game. thanks in advance. I have heard of robinhood. I am very new to trading so any help is appreciated.
    As for a highly regulated and U.S. based central exchange with fiat on and off ramp to get BTC, the real thing you can actually transfer out to your own wallet or cold storage, I got recommended Kraken when I started and still use it occasionally. Never had a problem and was able to transfer out Euro pmts to my domestic bank without issue as well.The UI is a bit ****ty and dated though. They recently aquired a banking license in one of the US states, forgot which one, but they where the first one to do so and it was seen as a big deal. So they are working on this for more areas of the U.S. and Europe with the aim that you can do all the normal stuff like pay bills etc from there rather than using the old banks. For trading I never end up using it but rather just go wherever the asset I seek may be or decentralized exchanges that are now becoming big - these generally lack fiat on ramps though.
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  4. #124
    Registered User Plateauplower's Avatar
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    Originally Posted by NorwichGrad View Post
    Hey gang.

    Check this out:

    I am long on physical gold, physical silver, and some cryptos - particularly BTC. Although I strongly believe bitcoin is the bait and fedcoin is the trap. It will actually help usher in cashless society. But that's beside the point. I will play the game.

    Speaking of playing the game. As the economy tanks, the market will continue to set records thanks to the fed's unlimited QE to infinity. The melt UP will continue until the system finally implodes. So I have decided to play their game as well. It's the practical thing to do when I think about it. Principle will NOT feed my family. If I make digital fiat trading, I can always cash out and get more physical gold and silver, and maybe guns and goats.

    The federal reserve has achieved its mission of becoming the 'lender and buyer of last resort." The market will skyrocket regardless of the next POTUS.

    So, favor, fellas.

    Please recommend a trading platform so I can start playing their game. thanks in advance. I have heard of robinhood. I am very new to trading so any help is appreciated.
    If you are new to investing in securities I'd suggest you start a ROTH IRA and buy low cost index funds based on the S&P 500 while you learn more about it. Time in the market and dollar cost averaging in beats any "system" out there in the long term. A lot of people make and lose money day trading. Long-term disciplined investing is pretty well documented to beat even the "best" stock pickers who do it for a living. Read Boggleheads Guide to Investing. I invest about 35% of my gross income, most of that in non-tax advantaged accounts (Roth in my name $6k limit), Spousal Roth in my Wife's name ($6k limit), and a 457 Roth ($16,500 annual limit) all post tax and tax free earnings when eligible. I also do some tax advantaged in a regular 457 but only 3% currently goin in there. I figure since I also have a defined benefit pension (12% contribution will get 80% of my highest paid 24 months which should be about a $160K/year pension by the time I retire) that will more than support me, I will be in a higher tax bracket in retirement than I am now with dependent kids. I'm outa room for physical assets which are a hedge rather than an investment. If the market completely crashes our currency won't be worth anything anyway and it will be mad max land where beans bullets and bandaids are the only things of value.

    I "made" over $30,000 in the last two weeks in the market lol...
    Last edited by Plateauplower; 10-15-2020 at 10:52 AM.
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  5. #125
    Getting Toned steffo99's Avatar
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    Originally Posted by Jtbny View Post
    Another fine example of the govt protecting us from ourselves /rolleyes
    It's very strange since it seems perfectly fine to spend the same amounts gambling in Vegas.
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  6. #126
    Registered User Plateauplower's Avatar
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    Originally Posted by steffo99 View Post
    It's very strange since it seems perfectly fine to spend the same amounts gambling in Vegas.
    It helps keeping the poor from becoming rich...Have enough people playing the day trader game and some are going to get lucky or somehow manage to win the short game and that takes profits out of the equation for the wealthy who pay people to manage their money.
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  7. #127
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    Originally Posted by Plateauplower View Post
    It helps keeping the poor from becoming rich...Have enough people playing the day trader game and some are going to get lucky or somehow manage to win the short game and that takes profits out of the equation for the wealthy who pay people to manage their money.
    Yup, seems to be a reoccurring theme in several countries. Whenever there is news about Russia opening up for crypto etc, it's usually with some exception that only rich or approved people can trade without ridiculously low limits.
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  8. #128
    banned NorwichGrad's Avatar
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    Hi guys.

    Thank you all very much for your input.

    Much appreciated.

    May you fine gents rip the head off the lion and do well.

    I will take your feedbacks to heart.
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  9. #129
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    Originally Posted by Plateauplower View Post
    I invest about 35% of my gross income
    You 'da man!!!

    My wife and I both save 15% of our salaries and we each get another 3% from our employers. And since paying our house off two (three?) years ago, I can usually find $1,000 to invest every 6 weeks or so, but you got me beat by a country mile! Great job.

    I'm 53 so I remember the "day traders" of the late 90's. A lot of people claimed they could do it, but after a prolonged bear market that started in March 2000, I think most of them realized that they couldn't be successful at it.
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  10. #130
    Registered User Jtbny's Avatar
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    Originally Posted by Plateauplower View Post
    It helps keeping the poor from becoming rich...Have enough people playing the day trader game and some are going to get lucky or somehow manage to win the short game and that takes profits out of the equation for the wealthy who pay people to manage their money.
    It's only one of many ways the system is rigged against retail traders.
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  11. #131
    Registered User Plateauplower's Avatar
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    Originally Posted by Jtbny View Post
    It's only one of many ways the system is rigged against retail traders.
    Yeah super computer algorithms and lighting fast transactions for pennies of profit on a huge scale are where the real money is made. Very little risk there too versus researching, investing, and having a little luck for individual stocks.
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  12. #132
    Registered User Plateauplower's Avatar
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    Originally Posted by Payton1221 View Post
    You 'da man!!!

    My wife and I both save 15% of our salaries and we each get another 3% from our employers. And since paying our house off two (three?) years ago, I can usually find $1,000 to invest every 6 weeks or so, but you got me beat by a country mile! Great job.

    I'm 53 so I remember the "day traders" of the late 90's. A lot of people claimed they could do it, but after a prolonged bear market that started in March 2000, I think most of them realized that they couldn't be successful at it.
    I still have a mortgage but it’s only around $150k and locked at 3.5% so I just pay a few hundred extra per month so it’s paid off before my kids start college. I live well below my means though overall. I paid $255k for my tiny little house in 06 (you’ve been here lol). I’m not sure if I will continue at such a high savings rate, but I can swing it for now. I’m guessing as the kids get older and need more stuff phones, cars/insurance etc I might need to adjust. My current plan is the principal in the Roth IRAs will be the kids college funds (haven’t set up a 529 or anything) and to clarify I’m at 35% with the pension contributions. I don’t max out my 457 R yet just both the reg Roth’s. I started really investing in 06, and ramped up as I could. I plan to be retired by 55 at the latest and hoping by 50 (slightly reduced pension if I go at 50), buy some land somewhere in another state hopefully with mountains and a lake.
    Last edited by Plateauplower; 10-15-2020 at 04:05 PM.
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  13. #133
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    Originally Posted by Payton1221 View Post
    You 'da man!!!

    My wife and I both save 15% of our salaries and we each get another 3% from our employers. And since paying our house off two (three?) years ago, I can usually find $1,000 to invest every 6 weeks or so, but you got me beat by a country mile! Great job.

    I'm 53 so I remember the "day traders" of the late 90's. A lot of people claimed they could do it, but after a prolonged bear market that started in March 2000, I think most of them realized that they couldn't be successful at it.
    Day trading as a practice is difficult but being able to day trade is a must.
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  14. #134
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    Originally Posted by Payton1221 View Post
    You 'da man!!!

    My wife and I both save 15% of our salaries and we each get another 3% from our employers. And since paying our house off two (three?) years ago, I can usually find $1,000 to invest every 6 weeks or so, but you got me beat by a country mile! Great job.

    I'm 53 so I remember the "day traders" of the late 90's. A lot of people claimed they could do it, but after a prolonged bear market that started in March 2000, I think most of them realized that they couldn't be successful at it.
    That's a great percentage.

    I've been at about 20% the last two years and should be at about 30% this year since I put more in during a down market. Once you avoid having a car payment or any bad debt, it's not that hard to do, but requires discipline for sure. I still treat myself to a few vacations a year and one international trip every couple years, so I'm still trying to live my best life now and even better during retirement. That should come around age 50 or so depending on the job I'll have or how much savings I think I need for my retirement lifestyle, it could be even sooner.
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  15. #135
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    Just started reading The Algebra of Happiness, and it had a couple of things that pertain to this thread. One was a statement that, most of the time, market dynamics trump individual performance. How many of us made a lot of money in 2019? Nearly all of us. How many of us made money in the downturns of 2000-2003 or 2008-2009? Not many.

    The other interesting perspective was to equate compound interest with a "magic box." If there was a magic box that if you put $1000 in it today, that in the future it would return $10,000 or $20,000, what would you do? Most of us would agree that we'd put as much money in that box as we could, but that's what compound interest is. The dollars that I put in the stock market in the early 90's will likely be worth 10X or more when I retire, but the dollars that I put in now will probably only double or triple by the time I retire. I realize that it's more difficult to save when you're younger, but I think it's a great illustration to encourage younger investors to save as much as they can.
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  16. #136
    Registered User Plateauplower's Avatar
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    Originally Posted by Payton1221 View Post
    Just started reading The Algebra of Happiness, and it had a couple of things that pertain to this thread. One was a statement that, most of the time, market dynamics trump individual performance. How many of us made a lot of money in 2019? Nearly all of us. How many of us made money in the downturns of 2000-2003 or 2008-2009? Not many.

    The other interesting perspective was to equate compound interest with a "magic box." If there was a magic box that if you put $1000 in it today, that in the future it would return $10,000 or $20,000, what would you do? Most of us would agree that we'd put as much money in that box as we could, but that's what compound interest is. The dollars that I put in the stock market in the early 90's will likely be worth 10X or more when I retire, but the dollars that I put in now will probably only double or triple by the time I retire. I realize that it's more difficult to save when you're younger, but I think it's a great illustration to encourage younger investors to save as much as they can.
    Absolutely the power of compounding interest is amazing and time in the market is the key to that. You get to the point where even in a down market you overall balance is lower but still many times your principal investment. I makes it hurt less lol, I know I didn’t like going negative balances to investment in 08...Won’t happen now, even if the market were to see a 50% drop.
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  17. #137
    Powerlifting in disguise induced_drag's Avatar
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    So I went on my gut a while back and started to take a larger position in bitcoin over the last few months. When I first came into this, I was going solely on the coins from when I had mined in 2013. I have since doubled my position now. I am actually holding more in btc than my stocks at this point.

    I guess for me the risk is worth the potential upside. Anyone else hedging any bets? The hard part for me is if and when to take profits. I see the 20k mark possible in the short term. Last time it hit that I did not sell any. Now that my position is doubled, this is getting serious and at some point I believe I need to set some goals rather than just going on pure emotion.

    Even with purchasing at 9k 10.5k 12k and 13k, my dollar cost average is still about 5000. Mainly due the early mining I did. So while this might seem crazy to start dropping significant amounts into this, from a 'big picture' standpoint I think I am at least covered on some end even with a large pull back.

    Anyone else have any thoughts?
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  18. #138
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    Originally Posted by induced_drag View Post
    So I went on my gut a while back and started to take a larger position in bitcoin over the last few months. When I first came into this, I was going solely on the coins from when I had mined in 2013. I have since doubled my position now. I am actually holding more in btc than my stocks at this point.

    I guess for me the risk is worth the potential upside. Anyone else hedging any bets? The hard part for me is if and when to take profits. I see the 20k mark possible in the short term. Last time it hit that I did not sell any. Now that my position is doubled, this is getting serious and at some point I believe I need to set some goals rather than just going on pure emotion.

    Even with purchasing at 9k 10.5k 12k and 13k, my dollar cost average is still about 5000. Mainly due the early mining I did. So while this might seem crazy to start dropping significant amounts into this, from a 'big picture' standpoint I think I am at least covered on some end even with a large pull back.

    Anyone else have any thoughts?
    Thoughts? I should have listened to you I got caught in a big drop and will finish the year at only 2-4% gain. Hoping volatility dies off some so I can get back to making steady income in 2021.
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  19. #139
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    I can’t get into the bitcoin thing. I don’t really understand enough about it and think I missed the boat. I’m up around 7-8% for the year which isn’t too bad.
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  20. #140
    Powerlifting in disguise induced_drag's Avatar
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    Originally Posted by Jtbny View Post
    Thoughts? I should have listened to you I got caught in a big drop and will finish the year at only 2-4% gain. Hoping volatility dies off some so I can get back to making steady income in 2021.

    Up to recently, I was not worried about profit taking since I was willing to risk it all go to zero since I was considering it 'found' money. Now I have actually put real money in and when that happens, I have to justify, or at least have some "plan". My problem lies in that I have looked at it the entire time as 'go big or go home'. Trying to understand if and when along the rise to sell some is my challenge.


    Originally Posted by Plateauplower View Post
    I can’t get into the bitcoin thing. I don’t really understand enough about it and think I missed the boat. I’m up around 7-8% for the year which isn’t too bad.
    I have been following a long time. Lots of reading and chart watching. I dont think anyone knows for sure. I can short term day trade at a fairly reasonable success rate, but I cant take the stress. I did an experiment with a few grand in another account, and I was able to generate consistent results. Problem was, I could not take my eyes off the screen and it was all consuming. Not something I want in my life.

    Bigger picture, some really awesome things happend last few weeks. Paypal announced adoption of bitcoin platform early next year. That is HUGE. And a large market will open up. Coinbase just announced a debit card where you can spend bitcoin like cash right out of your account. Also the ability to buy bitcoin right from Paypal account. I think you will see a ton of adoption coming from this alone. Quite a bit of news about companies buying bitcoin with extra profits in LARGE amounts. Like 100's of millions at a time in value.

    One interesting metric, is the 100 day. We are just getting ready to pass 100 days above 10,000.

    In the past, the first time it held 10$ for 100 days, not long after that was a huge rally to $1000. Then when it held $1000 for a 100 days, not long after saw a huge run to $10000. There is definitely something getting ready to happen. Id like to say 20,000 is a wager I would be willing to bet. But I am also prepared for a sell off. I have been waiting to pick up another .5btc just because my brain like round numbers but I have not been able to decide when. My gut says I should just do it now, but I am thinking there may be at least a small dip in the next couple days.
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  21. #141
    Registered User Payton1221's Avatar
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    I sold the little bit that I had in Grayscale Bitcoin Trust (GBTC), and I just noticed that it's up 40% over the last month

    I mentioned this earlier that I somewhat recently started following Ray Dalio's All Weather Portfolio to take some of the volatility out (I can't stomach the 2000-2003 and 2008-2009 drops anymore), BUT if I see another major correction (I'll seriously start thinking about a move if we drop 20% or so), I'll move my bond money back into an S&P 500 index fund. Here's a post of mine from April 3 when the Dow closed @ 21,413.

    P.S. I didn't borrow any money to invest for my son's car but it would have been a good investment.

    Originally Posted by Payton1221 View Post
    I too think now is a great buying opportunity (perhaps not a bottom, but I believe a year from now we'll be MUCH higher than we are now). With that noted, I have NEVER bought on margin and don't recommend it, but I'm somewhat entertaining a $20,000 draw to put in an S&P index fund thinking I can profit enough to buy my son a used car next year.
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  22. #142
    Powerlifting in disguise induced_drag's Avatar
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    Literally just bought .5btc. I have been on the fence hoping for another dip. I give it a 50/50, but could possibly be a very big upside coming, and when it does, history has shown it goes crazy fast. So rather than split hairs over what is 3-5 hundred dollars, I just went on and purchased it.

    Going to sit tight now and watch what happens....
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  23. #143
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    Originally Posted by induced_drag View Post
    So I went on my gut a while back and started to take a larger position in bitcoin over the last few months. When I first came into this, I was going solely on the coins from when I had mined in 2013. I have since doubled my position now. I am actually holding more in btc than my stocks at this point.

    I guess for me the risk is worth the potential upside. Anyone else hedging any bets? The hard part for me is if and when to take profits. I see the 20k mark possible in the short term. Last time it hit that I did not sell any. Now that my position is doubled, this is getting serious and at some point I believe I need to set some goals rather than just going on pure emotion.

    Even with purchasing at 9k 10.5k 12k and 13k, my dollar cost average is still about 5000. Mainly due the early mining I did. So while this might seem crazy to start dropping significant amounts into this, from a 'big picture' standpoint I think I am at least covered on some end even with a large pull back.

    Anyone else have any thoughts?
    How is bitcoin a hedge exactly?
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  24. #144
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    Originally Posted by _zman View Post
    How is bitcoin a hedge exactly?
    Yeah I don’t understand it at all. It’s not tangible, it’s not a backed currency, it seems like it’s digital currency that increases in value? I get the blockchain technology has some merit and that could be an investment into its application, but since the data is essentially shared/stored across the internet and not “housed” somewhere specifically, what exactly is it an investment in?
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    Originally Posted by Plateauplower View Post
    Yeah I don’t understand it at all. It’s not tangible, it’s not a backed currency, it seems like it’s digital currency that increases in value? I get the blockchain technology has some merit and that could be an investment into its application, but since the data is essentially shared/stored across the internet and not “housed” somewhere specifically, what exactly is it an investment in?
    It's also prone to hacking from what I've read. Some investors turn to precious metals for a hedge or bonds, and even that currently isn't working.
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  26. #146
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    Originally Posted by _zman View Post
    How is bitcoin a hedge exactly?
    I think it's a hedge in a sense that it inversely follows the dollar.
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  27. #147
    Powerlifting in disguise induced_drag's Avatar
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    BTC finally broke the 14000 barrier. It made several runs up towards it and could not break out. But finally go the momentum. If it can hold, this I think within the next three months there may be a HUGE upside. Like close to 80-100% gain.

    There are a few very large wallets that have shown some movement, but no selling so it will be interesting to see how this all plays out.

    As usual, I am HODL-ing. Might consider some profit taking at 20k if it goes there. Aw...hell, who am I kidding. I still dont know what my strategy is!
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  28. #148
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    BTC 15K + , Eth up nicely as well. When it passed 14k it was the highest it has been in 2 yrs.
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  29. #149
    Powerlifting in disguise induced_drag's Avatar
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    Originally Posted by steffo99 View Post
    BTC 15K + , Eth up nicely as well. When it passed 14k it was the highest it has been in 2 yrs.

    Yep...watching closely. I am expecting some ups and downs. When it peaks, I expect at least 1000 pull back then back towards stabilization of new high. I am thinking 3 month time frame though, if history holds we should be blowing past 20,000.


    The key is, if and when to take profits. For me, this is getting into significant areas and I am not sure if I just roll the dice and go for long shot. I am in 7 figures if it really goes to where I am projecting. Currently in 6's so that is no small sum either. I am still leaning towards 'go big or go home'.

    But I learned a lesson from the tech boom in late 90's. I had quite the portfolio which was 350+ in all techs go to virtually nothing in the bubble. That is what got me out of speculative investing many years ago. All told, my real 'loss' was only about 50 but the lost opportunity of profits along the way left me not wanting to mess with stocks in short term after that.

    For those who might be thinking BTC. At any of the short pull backs, (700-800) jump in if you want to make a good hedge bet. I am saying 20k is conservative in the next few months. But it could dive too. Dont risk what you cant afford to lose, but this is a good time if you want to take a shot.
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  30. #150
    Registered User Payton1221's Avatar
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    Originally Posted by induced_drag View Post
    But I learned a lesson from the tech boom in late 90's.
    As of Dec 31, 1999 I had $94,200 in retirement accounts. Two years later, I had $64K and by Dec 2003, I still hadn't returned to my 1999 level even though we had invested another $17K
    Pull-Up PR: https://forum.bodybuilding.com/showthread.php?t=177233951
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