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CNBC just had a segment covering Bitcoin prices. They had two derpy looking guys who both said they could see Bitcoin going to $1,000,000 USD per coin by 2020. Do they not understand that the total value for Bitcoin would then be 20 trillion US dollars? Correct me if I'm wrong, but doesnt Bitcoin cap out at 20 million coins?
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Nov 29, 2017 17:47
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Cheesemaster200 posted:The price of anything is dictated by what someone else is willing to pay for it. Exactly, it's "rational" depending on your point of view. This trickles down to the very value of a dollar, some people value it higher and so spend their lives working to aquire it but other enlightened folks see that its just a piece of paper and spend their lives gaming and doing the italian kiss finger thing thinking of cam girls like me.
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Nov 29, 2017 17:53
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LLCoolJD posted:CNBC just had a segment covering Bitcoin prices. They had two derpy looking guys who both said they could see Bitcoin going to $1,000,000 USD per coin by 2020. Do they not understand that the total value for Bitcoin would then be 20 trillion US dollars? Correct me if I'm wrong, but doesnt Bitcoin cap out at 20 million coins?
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Nov 29, 2017 17:55
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LLCoolJD posted:CNBC just had a segment covering Bitcoin prices. They had two derpy looking guys who both said they could see Bitcoin going to $1,000,000 USD per coin by 2020. Do they not understand that the total value for Bitcoin would then be 20 trillion US dollars? Correct me if I'm wrong, but doesnt Bitcoin cap out at 20 million coins? What is the fundamental value of a Bitcoin? Is it possible to know? With normal currency, it depends on the goal of the central bank behind itand therefore how the underlying economy is doing (inflation or deflation depending on CPI, etc). But because Bitcoin by its very nature is opaque, it means determining how much opaqueness is desired in the market so impossible to measure methinks. Would be interesting to see if the rise of Bitcoin correalates with the rise of the opoid epidemic the country is going through, and if the rise of opoid addiction is increasing, if that is tied to the price of Bitcoin going up (due to the need for opaque transactions).
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Nov 29, 2017 17:58
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Bitcoin has no value, but as we legitimize it with news and coverage it's value increases in hype due to fomo.
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Nov 29, 2017 18:04
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I would be curious to know how much carbon Bitcoin has pointlessly pumped into the atmosphere.
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Nov 29, 2017 18:06
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LLCoolJD posted:Correct me if I'm wrong, but doesnt Bitcoin cap out at 20 million coins? How many of those coins have been lost forever?
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Nov 29, 2017 18:09
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Risky Bisquick posted:Bitcoin has no value, but as we legitimize it with news and coverage it's value increases in hype due to fomo. Well that and money laundering
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Nov 29, 2017 18:11
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A MIRACLE posted:Well that and money laundering Did you know US Dollars are the number one currency used in money laundering? Shocking but true.
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Nov 29, 2017 18:16
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Droo posted:I would be curious to know how much carbon Bitcoin has pointlessly pumped into the atmosphere.
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Nov 29, 2017 18:18
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I'm ready for bitcoin to crash hard and gently caress right off so I can actually buy a video card for my PC at a reasonable price
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Nov 29, 2017 18:22
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Curious about people from the last page investing in $WEED. Is now a good time to start investing it with it still being federally illegal in the US? I've been telling some of my family members not to bother until it becomes legal since it seems volatile but with Canada legalizing it soon I feel like it might be a good time to invest in companies around there. Any recommendations for ones to check out that I can get on Robinhood or E-Trade?
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Nov 29, 2017 18:32
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ceebee posted:Curious about people from the last page investing in $WEED. Is now a good time to start investing it with it still being federally illegal in the US? I've been telling some of my family members not to bother until it becomes legal since it seems volatile but with Canada legalizing it soon I feel like it might be a good time to invest in companies around there. Any recommendations for ones to check out that I can get on Robinhood or E-Trade? I don't think you can buy OTC on Robinhood. I'm currently invested in $ACBFF and $ABCCF (both are down today) for my weed needs. Canopy is the biggest, but the smaller growers are buying each other out. Aurora just submitted a proposal to purchase CanniMed, for instance.
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Nov 29, 2017 18:49
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I would be fine having to exercise expiring options and take possession of 1000 tons of weed.
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Nov 29, 2017 18:50
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EAT FASTER!!!!!! posted:It would be interesting to take a poll on where you guys think the market falls as far as rational pricing - I think that rational pricing would require abstention being a viable mechanism operating in the market, however the mass of money flowing into index funds from 'conservative' investors precludes those funds from abstaining from participating in the market (and, largely, from even proportionally abstaining from purchasing individual mispriced instruments). Since abstention isn't and structurally cannot happen, at some degree, we can be confident that we're operating at some point in the rational / irrational spectrum leaning toward the irrational side. Beyond that, however, I don't think there's a mania comparable to where we were 10 years ago with housing. The price of securities is historically high, and that's with good reason: other investment vehicles have comparatively atrocious returns, so the price of security (security as the inverse of risk) is quite high; consequently you have to embrace a lot of risk to get the kind of returns that were once available in bonds years ago. People who want to chase a specific return have to put their money in equities. Combine that with the money flowing in because of the perceived safety of indexing, and there's a lot more demand for equities in aggregate, so their prices are higher compared to historical prices. For most equities in the market, people who are buying above and beyond the baseline of "everything is getting invested in via indexing" is making a decision based on an expected return on investment. You can point at TSLA which is clearly irrationally priced as a clear demonstration of irrationality present in the market. That TSLA is clearly irrational would suggest that there is some baseline of rationality you can compare TSLA against, so, do you think that most equities are priced similarly to how TSLA is priced, or differently? There's no signal that bonds or real estate or other investments are going to start becoming more attractive in the near term, and there's no signal that they will be doing so abruptly. To see the market tank spectacularly right now, we'd need some abrupt shock that scares investors to move to cash, and I think the aggregate motivation by fear right now is to put more money into equities given their performance since the crash: the Fear Of Missing Out.
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Nov 29, 2017 18:52
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All tickers on the TSE or CVE, WEED, ACB, FIRE, MJN, WMD, PUF. You basically need to figure out who has a license (marihuana for medical purposes regulations MMPR) and see what their growth is like. All the small players will likely be gobbled up as they get closer to legalization (July 1st). I highly recommend thoroughly reading https://www.reddit.com/r/weedstocks/
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Nov 29, 2017 18:54
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Im in vesting in vial of heroin aka boy
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Nov 29, 2017 19:11
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as they say... "boy low, get high" 
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Nov 29, 2017 19:34
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https://twitter.com/CitronResearch/status/935947491693887488
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Nov 29, 2017 21:05
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FAANG lost $60 billion today, buy bitcoin and weed, burn it all down salt the earth
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Nov 29, 2017 21:30
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How are these guys not in jail?
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Nov 29, 2017 21:31
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Josh Lyman posted:How are these guys not in jail? Well for once what they're describing here is a pure arbitrage play, which will close with the smart money looking a little bit closer, so I don't think this one really merits a federal indictment.
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Nov 29, 2017 21:46
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EAT FASTER!!!!!! posted:Well for once what they're describing here is a pure arbitrage play, which will close with the smart money looking a little bit closer, so I don't think this one really merits a federal indictment. If you look through the comments on the tweet, most people believe Citron is actually long GBTC and just wanted an opportunity to buy some at a lower price. Textbook stock price manipulation.
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Nov 29, 2017 21:53
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Time to go long on GBTC! I think Im gonna start a simulation of buying after Citron announcements and see how it does for the first half of next year.
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Nov 30, 2017 00:21
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Syrinxx posted:FAANG lost $60 billion today, buy bitcoin and weed, burn it all down salt the earth My weeds were down like 8% today too :/ Then I was like "oh well the index etfs outta be doing alright ..." On the topic of Aurora: Aurora takeover bid 'makes no sense,' based on inflated share price: CanniMed Also, I can't short GBTC, I mean who the gently caress is loaning out GBTC? dougdrums fucked around with this message at 00:27 on Nov 30, 2017 |
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Nov 30, 2017 00:22
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Solice Kirsk posted:Time to go long on GBTC! I think Im gonna start a simulation of buying after Citron announcements and see how it does for the first half of next year. My buddy made like 5500 on it last week and stop lossed out of it today lmao.
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Nov 30, 2017 00:44
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Risky Bisquick posted:All tickers on the TSE or CVE, WEED, ACB, FIRE, MJN, WMD, PUF. I like IIPR domestically, it's a greenhouse REIT that is buying these at cap rates that haven't been seen on real estate in decades. It's latest filing has a good acquisition pipeline to start spreading out their startup costs, with dividend checks already flowing from the REIT structure.
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Nov 30, 2017 01:43
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Josh Lyman posted:I touched the poop, trying to trade GBTC. so were you holding o/n or what?!??! woulda been a sweet rear end win....
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Nov 30, 2017 02:49
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Jack Daniels posted:so were you holding o/n or what?!??! woulda been a sweet rear end win.... 
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Nov 30, 2017 02:57
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lol, understood
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Nov 30, 2017 03:35
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Does anyone else hate the new Google finance, or is it just me?
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Nov 30, 2017 16:43
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finance.google.com is still up for me, but yeah the new one is awful.
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Nov 30, 2017 17:14
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Google has somehow managed to launch something where an old Yahoo UI is actually better.
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Nov 30, 2017 17:15
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Cheesemaster200 posted:Does anyone else hate the new Google finance, or is it just me?
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Nov 30, 2017 17:24
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The continued usefulness of Yahoo Finance astounds me.
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Nov 30, 2017 17:29
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Risky Bisquick posted:All tickers on the TSE or CVE, WEED, ACB, FIRE, MJN, WMD, PUF.
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Nov 30, 2017 17:31
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My patience with KR has finally been rewarded; bought at ~$22 and up like 20-25%
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Nov 30, 2017 17:32
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Josh Lyman posted:Once recreational marijuana becomes legalized, won't the medical marijuana companies lose a bunch of business? You can brew your own alcohol to consume, but people by and large pay someone else for the convenience to do that for them. The medical producers will be the ones supplying the newly created market with product.
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Nov 30, 2017 17:36
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Risky Bisquick posted:You can brew your own alcohol to consume, but people by and large pay someone else for the convenience to do that for them. The medical producers will be the ones supplying the newly created market with product.
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Nov 30, 2017 17:40
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Josh Lyman posted:I'm wondering mainly about producers who won't need a medical supplier license under the assumption that's more trouble than just setting up a neighborhood pot shop. Those are illegal is most provinces, only a few smaller provinces will allow private sellers outside of a government owned monopoly. Feel free to read https://openparliament.ca/bills/42-1/C-45/ for details of who can supply weed and how much red tape will be involved in the 'national cannabis tracking system'
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Nov 30, 2017 17:47
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