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Really all investing is gambling if you think about it. The only true fiat is gold and guns to take other peoples gold.
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Jan 17, 2018 19:48
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feelix posted:Did someone seriously make that, not as a joke I stole it from a reddit thread and they weren't joking, just discussing how to diversify investments correctly.
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Jan 17, 2018 19:48
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Rad Russian posted:This is reddit's idea of a well balanced portfolio for all of your life savings: excuse me where do scented candles and NASCAR memorabilia fall on this chart
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Jan 17, 2018 19:49
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"keep dropping so i can buy more" 
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Jan 17, 2018 19:50
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Rad Russian posted:This is reddit's idea of a well balanced portfolio for all of your life savings: Well, this image certainly supports that strategy:  The smallest upward correction after a Jan low is roughly 2.5x, and the highest was 18x. Clearly, we can expect Bitcoin to be 200k by 2018 close.
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Jan 17, 2018 19:51
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Rad Russian posted:I stole it from a reddit thread and they weren't joking, just discussing how to diversify investments correctly. It's a decent strategy for stocks, 60-70% of something like VOO or SPY, 30% of blue chips, 5-10% speculative Too bad these coins are pure speculation and not investments
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Jan 17, 2018 19:52
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I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff?
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Jan 17, 2018 19:52
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Rad Russian posted:This is reddit's idea of a well balanced portfolio for all of your life savings: My balls..... They are gone
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Jan 17, 2018 19:54
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Hot Dog Day #91 posted:I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff? they missed the bubble on bitcoin so they want to repeat that success
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Jan 17, 2018 19:54
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Hot Dog Day #91 posted:I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff? They are gambling assets.
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Jan 17, 2018 19:54
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Hot Dog Day #91 posted:I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff? Same purpose as bitcoin. Not a drat thing
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Jan 17, 2018 19:55
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Hot Dog Day #91 posted:I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff? they're for greedy people who got in too late to mine bitcoin.
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Jan 17, 2018 19:55
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https://ca.finance.yahoo.com/news/winklevoss-twins-seen-600-million-163936990.html Lol
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Jan 17, 2018 19:55
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Hot Dog Day #91 posted:I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff? The intended purpose of altcoins is getting rich. The people who started the coin pre-mined it, so they have a percentage of the overall supply that would make a Russian oligarch blush. Bitcoin is actually the least concentrated coin.
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Jan 17, 2018 19:55
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Hot Dog Day #91 posted:I legitimately don't understand the intended purpose of alt coins. Do they think it will supplant bitcoin, or is it just mumble mumble untraceable stuff? They're specialized coins meant to be used for specific transactions. Don't think of it as all the cryptos vying to be the one true currency, it's more like depending on what you are trying to do, there's a coin that will be a good fit for it.
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Jan 17, 2018 19:55
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Harminoff posted:https://ca.finance.yahoo.com/news/winklevoss-twins-seen-600-million-163936990.html jesus christ how much did they buy
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Jan 17, 2018 19:56
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What you think of this portfolio? Portfolio so far; (More stars=higher weighting) Cardano* NEO** Stellar Lumens** IOTA* ICON*** EOS (more Research) Vechain** Dragonchain*** Walton** Substratum * (high risk) Request Network* (high risk) WaBi** Nulls*** Undecided (higher risk) Loopring Nebulas (not that risky) Aelf Quantstamp Raiden Network NAV Po.et Ethlend UTRUST IoT Chain Modum Phore Elixir Publica
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Jan 17, 2018 19:57
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The real stupid part is that even though buttcoin has dropped a ton, I am still up multiple times my original amount. People are so stupid for buying in at the peak. Like 4 months ago, people were going crazy when BTC broke 10k and now that it is back under, people act like the sky is falling.
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Jan 17, 2018 19:57
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Ham Sandwiches posted:They're specialized coins meant to be used for specific transactions. Don't think of it as all the cryptos vying to be the one true currency, it's more like depending on what you are trying to do, there's a coin that will be a good fit for it. I thought the whole point of Bitcoin was that it could be used for anything?
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Jan 17, 2018 19:58
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Rad Russian posted:This is reddit's idea of a well balanced portfolio for all of your life savings: The efficient frontier is about 30-40 large cap stocks, assuming an efficient and rational market, so that's like 20-30 alt-coins.
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Jan 17, 2018 19:58
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feelix posted:I thought the whole point of Bitcoin was that it could be used for anything? Well, the way Cryptos work now, is that depending on what you're trying to do, there's a Coin for that It's pretty trivial to convert crypto assets from one coin to another 
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Jan 17, 2018 20:00
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Stealthgerbil posted:The real stupid part is that even though buttcoin has dropped a ton, I am still up multiple times my original amount. People are so stupid for buying in at the peak. Like 4 months ago, people were going crazy when BTC broke 10k and now that it is back under, people act like the sky is falling. The sky is falling for all the people who have been caught holding the bag
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Jan 17, 2018 20:02
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Ham Sandwiches posted:Well, the way Cryptos work now, is that depending on what you're trying to do, there's a Coin for that Well you weren't kidding. When is SA gonna mine this stuff? https://coinmarketcap.com/currencies/postcoin/
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Jan 17, 2018 20:02
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Spent: $200 Pocketed:$4300 Not a true believer, I just bought it and forgot about it and got lucky.
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Jan 17, 2018 20:02
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Thanks for the altcoin explainers. Is there anyone in this thread who is "investing" in this in anything other than as a form of gambling?
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Jan 17, 2018 20:02
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Harminoff posted:https://ca.finance.yahoo.com/news/winklevoss-twins-seen-600-million-163936990.html They run their own exchange and bought in at $10. I have a feeling they made some actual money in the last year.
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Jan 17, 2018 20:02
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feelix posted:I thought the whole point of Bitcoin was that it could be used for anything? Eventually its glaring, fundamental flaws can no longer be ignored even by the true believers, so people create alt-coins that seem to address those flaws if you squint the right way.
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Jan 17, 2018 20:03
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Stealthgerbil posted:The real stupid part is that even though buttcoin has dropped a ton, I am still up multiple times my original amount. People are so stupid for buying in at the peak. Like 4 months ago, people were going crazy when BTC broke 10k and now that it is back under, people act like the sky is falling. You can make money on gambling assets.
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Jan 17, 2018 20:03
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Ham Sandwiches posted:They're specialized coins meant to be used for specific transactions. Don't think of it as all the cryptos vying to be the one true currency, it's more like depending on what you are trying to do, there's a coin that will be a good fit for it. So I need one type of currency to buy donuts, and another to buy a ferrari.
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Jan 17, 2018 20:04
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Virtue posted:Really all investing is gambling if you think about it. The only true fiat is gold and guns to take other peoples gold. Buy then there's huge amounts of imagined value anyway so yeah instruments are made of dreams and farts and it works out because worldwide utility manages to keep increasing exponentially.
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Jan 17, 2018 20:04
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The true believers seamlessly fall into either 'meh I'm still up so I don't need to sell' or 'I can't sell now, I'm down and I'd be taking a loss'; they have been well trained to be bag holders no matter what their position is.
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Jan 17, 2018 20:06
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EorayMel posted:Well you weren't kidding. When is SA gonna mine this stuff? https://coinmarketcap.com/currencies/dentacoin/ The coin, for dentists! It only reached a 2.4 billion market cap.
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Jan 17, 2018 20:08
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Who keeps bouncing this poo poo up to $10K? Also:
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Jan 17, 2018 20:09
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Jan 17, 2018 20:13
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I also enjoy "Once the weak sellers are driven out of the market, the price will go back up"
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Jan 17, 2018 20:16
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slidebite posted:Who keeps bouncing this poo poo up to $10K? There's a bunch of goons who've posted variations along the lines of "I'm waiting till it hits $7000 and then I'm buying in cheap!". I'm guessing there's still plenty of money out there willing to buy in at $10k because Bitcoin will surely return to it's true course of $20k+ with a couple of months. The worrying part is they might be right.
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Jan 17, 2018 20:18
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WalletBeef posted:sire have you considered dogecoin? I cashed literal thousands out of dogecoin which I got as a meme on day 2 and forgot about until last spring.
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Jan 17, 2018 20:27
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guess I can use this again https://i.imgur.com/nSBfVvP.mp4
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Jan 17, 2018 20:32
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emoji posted:I cashed literal thousands out of dogecoin which I got as a meme on day 2 and forgot about until last spring. I wish this was a joke. That it was all a dream. But here I am, alive, living a nightmare.
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Jan 17, 2018 20:38
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Often Abbreviated posted:I really hope this is the crash. If it runs up one more time it'll suck in everyone and their dog and when THAT bursts we're in economic crisis mode. No, because no institution that matters has any serious exposure to bitcoin.
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Jan 17, 2018 20:45
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