☮ Social ☮ PD Social Talk Thread: If 2020 Was the Dumpster, Can 2021 Be the Fire?

[xammy]

took this pic

 

[TripSitterNZ]

Im making money on my eth and btc. Even though its only a little bit invested i hope it keeps going up over the years

 

[Cream Gravy?]

yeah man, watching your money grow is fun, for sure, and strategizing. I dunno, it just occurred to me that no one gets wealthy without investing, or at least, most people don't. My dad became quite wealthy, but he invested through the 80s, 90s, and on, it didn't just happen. I've got disposable income now, letting it sit in a savings account accumulating a tenth of a percentage point of interest per year is the second worst thing I could do (blowing it would be worse, obviously).

yeah it's exciting. I got into crypto in 2017, too. But kinda fucked myself over there, I just didn't know anything and got in around the peak.

I'm not knocking the pursuit of wealth; rather, my father spends much of his free time speculating stocks and bitcoin these days, I thought it rather funny. I just don't have any free money to invest nor the care to self-invest.

Also there are higher interest savings accounts, I have mine through Amex which was at a peak of 2.1% APY in 2019 before covid lol. You should look into that if you have any savings just sitting around but don't want to bother investing it. I think it's down to .5% now which is a real bummer but the economy tanked, what can I do?

 

[Xorkoth]

Bezos owns like 54M shares though which is like 14x the daily trading volume of Amazon, he definitely couldn't sell off all at once. It seems like he'd have to sell off extremely slowly for the increased supply to not affect the price.

Yeah good point

I'm not knocking the pursuit of wealth; rather, my father spends much of his free time speculating stocks and bitcoin these days, I thought it rather funny. I just don't have any free money to invest nor the care to self-invest.

Also there are higher interest savings accounts, I have mine through Amex which was at a peak of 2.1% APY in 2019 before covid lol. You should look into that if you have any savings just sitting around but don't want to bother investing it. I think it's down to .5% now which is a real bummer but the economy tanked, what can I do?

lol, every one of my ETF stocks gained at least 0.5% today alone. Although you're right, a higher-interest savings account for the few thousand I keep liquid is a good idea. But 0.1% or 0.5%, or 1% per year... both are essentially nothing, from my perspective anyway. Definitely better than literally doing nothing though.

I'm spending a good bit of time and effort right now on it, during work hours. Once I get myself set up, I'm going to just sit on it. If you go mostly in ETFs, it's basically like a savings account that gains you 10% or more per year (even up to 20%, depends on the year and the ETF). Not quite as safe as a savings account, but pretty safe. If you're saving long-term, then even if the market crashes, it's still safe, as the market always recovers, and if it doesn't, well, I think it's a sign that our problems are not going to be surmounted by a savings account.

I ended up selling my BTC mining stock that I rode up, for $76 more than what I bought it for. I missed a chance to sell for $120 profit, but missed it (figured BTC was on a run up, but it faltered). Kind of a lot of thinking and stress for $76, but on the other hand, that's about 20 more shares of one of the up and coming weed company stocks I can buy now, that I couldn't before.

 

[Buzz Lightbeer]

But whyy invest in BTC mining stock but not in BTC itself??
I would but I don't have the capital

 

[Buzz Lightbeer]

took this pic

Ok, good pic

 

[Buzz Lightbeer]

I have drunk quite a bit of beers, but I'm just gonna be honest here, I don't like Bezos at all, fucking dick, guy is swimming in money and can't even pay his employees a decent wage.
His only goal is to start up some kind of space company, throwing billions at that every year, dis-gus-ting.
Same for Musk, 'mr genius', fuckin lol, go look at some of his interviews.

 

[TripSitterNZ]

got my replacement cable finally can listen to high quality audio again. Jesus everything sounds better. Damm i did not realize how fucked my cable was this is like x50 better than what my hd 598s where before. Jesus christ i have been missing out on extra good audio while tripping.

 

[psy997]

This speculating on BTC mining stock is a bit risky, but I feel good about it. Especially with stop loss, at most I will be forcibly exited at a very small loss. Already though I'm almost $100 up in those for the day. At the end of the day I am going to sell them, take the profits and reinvest them in some stuff I plan to hold for years. And if I see BTC spiking again I'll probably sell some ETF positions to temporarily do the same and then reinvest. I don't know how to read the stock market too well yet, but I have years of reading the BTC market, and these stocks follow it so closely, it's basically like investing in BTC, except it's stocks.

EDIT: $125 up.

Don't buy futures or positions if you're going to invest in BTC, get yourself your own coinage (not financial advice). BTC is conservatively speculated to reach $100,000 this year, with many people saying $250,000 this year, and many people saying $400,000-600,000 in the next five years.

I'm not knocking the pursuit of wealth; rather, my father spends much of his free time speculating stocks and bitcoin these days, I thought it rather funny. I just don't have any free money to invest nor the care to self-invest.

Also there are higher interest savings accounts, I have mine through Amex which was at a peak of 2.1% APY in 2019 before covid lol. You should look into that if you have any savings just sitting around but don't want to bother investing it. I think it's down to .5% now which is a real bummer but the economy tanked, what can I do?

Look at the BTC and ETH charts for the past month and tell yourself you don't care to invest. I was saying the same thing in December until I came into some BTC and now, realize how stupid I am to not put time and effort into investing and actively growing my money.

High interest savings accounts are nothing, 2.1% APY is nothing, you can stake various coins on any Crypto exchange for up to 8-10% APY with little risk, and if you want to take more risk, can stake coins on Uniswap or Sushiswap for 30-300% APY, for higher risk, of course.


General note: ETH is up 786% the past year, and BTC is up 413% the past year.

 

[Xorkoth]

But whyy invest in BTC mining stock but not in BTC itself??
I would but I don't have the capital

It was easier to just flip for a day.

Don't buy futures or positions if you're going to invest in BTC, get yourself your own coinage (not financial advice). BTC is conservatively speculated to reach $100,000 this year, with many people saying $250,000 this year, and many people saying $400,000-600,000 in the next five years.

I'm not convinced it's going to go that high so soon. If it follows past patterns, it will lose a large percentage of its value and then in a couple of years it will moon way higher than this time. It seems to me that buying right now is exactly the same as what I did in 2017. I bought in from like $13k to $19k. Lost a ton of money. Of course if I had held, I would have been fine, but if I had bought in like a year later, or even earlier this year, I could have made a lot of money. I have bought into the topof a number of things, it's hard to ignore the fomo.

I fully expect it will reach much, much higher values. So I guess ultimately it's a good investment anyway. I should have some bitcoin and I will. But I'm waiting until it inevitably dips. I seriously doubt it will never be a good bit cheaper than it is right now again.

 

[Kaden_Nite]

I have a much better idea to make money.

Netflix cartoon.

It's called "Billionaire Karate Penguin Astronaut" and it's about this penguin who is like a samurai and drives a convertible and stuff.

 

[Bagseed]

I have a much better idea to make money.

Netflix cartoon.

It's called "Billionaire Karate Penguin Astronaut" and it's about this penguin who is like a samurai and drives a convertible and stuff.

have you pitched that to pendleton ward already?

 

[psy997]

It was easier to just flip for a day.



I'm not convinced it's going to go that high so soon. If it follows past patterns, it will lose a large percentage of its value and then in a couple of years it will moon way higher than this time. It seems to me that buying right now is exactly the same as what I did in 2017. I bought in from like $13k to $19k. Lost a ton of money. Of course if I had held, I would have been fine, but if I had bought in like a year later, or even earlier this year, I could have made a lot of money. I have bought into the topof a number of things, it's hard to ignore the fomo.

I fully expect it will reach much, much higher values. So I guess ultimately it's a good investment anyway. I should have some bitcoin and I will. But I'm waiting until it inevitably dips. I seriously doubt it will never be a good bit cheaper than it is right now again.

The 42k ATH we just hit was just the beginning. So far, it lines up with the previous cycles perfectly, and this 42k ATH was just the first big peak in the greater overall cycle peak. I can send you data on that, but IMO it's a mistake to think that this moment is the peak.

 

[cosmic charlie]

I have a much better idea to make money.

Netflix cartoon.

It's called "Billionaire Karate Penguin Astronaut" and it's about this penguin who is like a samurai and drives a convertible and stuff.

Brah that is legit a brilliant idea and you should pursue it for sure, im dead ass serious!!!

 

[Xorkoth]

The 42k ATH we just hit was just the beginning. So far, it lines up with the previous cycles perfectly, and this 42k ATH was just the first big peak in the greater overall cycle peak. I can send you data on that, but IMO it's a mistake to think that this moment is the peak.

Look at the graphs, in 2017 there was a spike, then a second, slightly smaller spike, then it crashed for 2.5 years. We're past the second spike right now, or maybe in it. Following previous trends, it will not spike higher until like 2023, though it will spike higher for sure.

 

[Xorkoth]

See, here:

The last peak had a second sub-peak where it went almost back up, then crashed and lost most of its value. The time before that, though the scale makes it hard to see, same thing. Now this time, we hit the big peak, it went down, and about to hit a second peak, slightly lower, then I expect it will lose most of its value for a while. There is no past trending which indicates it has only started peaking, IMO. Though of course, it could be, it doesn't necessarily have to stick to past patterns, given it's a different situation now in terms of institutional money and widespread acceptance and such. But nothing about its graph tells me it has only just started peaking. I've been watching it for 4 years and lost a lot of money last time due to FOMO from buying near the peak, last time.

The idea it will hit $250k or more this year is, to me, a pipe dream, and echoes the fomo of the past.

 

[Cream Gravy?]

I just wish people would stop mining. I wanted to get a new GPU for my gaming rig and you can't even find old crappy cards under $300 these days. It's cheaper to buy a prebuilt PC and part out everything but the GPU than it is to actually buy a new 3000 series Nvidia fuck off miners, I wanna game!

 

[Pfafffed]

I'm not convinced it's going to go that high so soon. If it follows past patterns, it will lose a large percentage of its value and then in a couple of years it will moon way higher than this time. It seems to me that buying right now is exactly the same as what I did in 2017. I bought in from like $13k to $19k. Lost a ton of money.

Yeah, BTC is aggressively shorted by major institutional investors rn. That doesn't make me feel confident.

 

[psy997]

See, here:

The last peak had a second sub-peak where it went almost back up, then crashed and lost most of its value. The time before that, though the scale makes it hard to see, same thing. Now this time, we hit the big peak, it went down, and about to hit a second peak, slightly lower, then I expect it will lose most of its value for a while. There is no past trending which indicates it has only started peaking, IMO. Though of course, it could be, it doesn't necessarily have to stick to past patterns, given it's a different situation now in terms of institutional money and widespread acceptance and such. But nothing about its graph tells me it has only just started peaking. I've been watching it for 4 years and lost a lot of money last time due to FOMO from buying near the peak, last time.

The idea it will hit $250k or more this year is, to me, a pipe dream, and echoes the fomo of the past.

You're not reading it correctly, IMO

 

[psy997]

Yeah, BTC is aggressively shorted by major institutional investors rn. That doesn't make me feel confident.

More than it's shorted, it's picking up institutional buyers. We wouldn't be seeing huge institutional buy-ins at 35k+ if it was going to crash again.