• Life Advice & Visual Arts Welcome Guest
    Posting Rules Bluelight Rules
    🌌 Share Your Dreams! 🌌
    📸 15 Years of Photo Contests 📸
  • LAVA Moderator: Shinji Ikari

the market: stocks, bonds, options, whatever

Yeah BTC is going nuts. from what I read, Musk said something about Tesla making a $1.5B investment in it. That guy's tweets cause so many market moves.
 
ha. The winklevoss twins were the first bitcoin billionaires in 2017 when it hit 19000. I predict they have more than 10,000 BTC with maybe a $60,000 investment at the time. it could be more, could be less, but still a good day.
 
BTC is going nuts... I bought RIOT (BTC mining company) last week and did a swing trade in one day and ended up making like under $100... well if I had done the same today I could have probably made 2 grand. Blah, oh well, that kind of thing is risky. RIOT has gone up over 50% today
 
What is a good cryptocurrency price tracking app? I think blockfolio is ok, the cryptogecko one was not that great. I want something that you can use offline (other than coin prices updating) with a calculator and my portfolio if that makes sense.
 
Xorkoth said:
For Jumia, looks really promising. Only thing I wonder is, will the actual Amazon overtake them at some point?
Click to expand...
Thats a good point, I would hope it would be a merger rather than them getting pushed out of the market but who knows, I think they are okay for a little while at least on that front though
 
Man, RIOT (and MARA) went gangbusters today! I almost bought some first thing in the morning but got cold feet. Then watched it grow by 21% over the course of the day. I've been watching BTC carefully and I am nearly certain it is still going up. So I grabbed more out of my savings account and bought $2k worth of RIOT at just under $40. Hoping BTC breaks out again overnight. Or if not overnight, then soon. Hoping RIOT grows a lot again over the next couple of days, and I will sell and flip that $2k into more, and stick the original amount back in savings. A little risky for sure, but I couldn't resist since I'm nearly certain that BTC is still on the way up.

I couldn't believe my eyes when I saw some news today about how RIOT closed higher than it had since 2012... I had never looked at its past. Well it turns out, just before the start of 2008, RIOT hit a high of $3,244 per share. 8o 8o As big as Amazin currently is. Talk about a bubble! I'm confused though, since BTC wasn't worth anything back then (actually it didn't even exist yet). So they must have been doing something else?
 
The best stock to play Bitcoin was Microstrategy. Fuck my life I did set up a buy order when it was around 200+ $ some weeks ago or so and didn't get filled, and I neglected to just swallow my fucking pride and move the order from limit to market, idiot of me... I let it go and is now around $1000

Anyway, yes an yes Bitcoin to the moon for now. Only thing is wait and see when there will be a crash (only had a 30% fall this last bull run, so... wait for the real one that will be more than 50% for sure). I don't see the crash coming yet, it will get much hotter before, no idea how high, but I guess it can go to 100k+. My bet is 230k USD, just for the lulz

This is a good thread explaining what could happen next:

 
Last edited:
dalpat077 said:
Did I happen to forget to mention the part that trading and/or investing shouldn't be done while under the influence of a mind altering substance?
Click to expand...

LOL, I am liking cocaine too much, found a source with a really nice product. Placed a 2nd order after a tester, because it looks too good to be true (or too bad)

I did a lot past week, and a bit yesterday. Trying to go back now to the old dream of keeping the habit under control, sigh...
 
usual-suspect said:
The best stock to play Bitcoin was Microstrategy. Fuck my life I did set up a buy order when it was around 200+ $ some weeks ago or so and didn't get filled, and I neglected to just swallow my fucking pride and move the order from limit to market, idiot of me... I let it go and is now around $1000

Anyway, yes an yes Bitcoin to the moon for now. Only thing is wait and see when there will be a crash (only had a 30% fall this last bull run, so... wait for the real one that will be more than 50% for sure). I don't see the crash coming yet, it will get much hotter before, no idea how high, but I guess it can go to 100k+. My bet is 230k USD, just for the lulz

This is a good thread explaining what could happen next:

Click to expand...


Damn yeah, microstrategy. Just took a look.

Well I made a bold (dumb) move to buy more RIOT than I had, on margin. Ended up losing about $200 from $2000 buy, because the price scared me too much today. I'm not convinced BTC is going up right now and I thought about how my gains and losses were doubled due to the margin buy, and thought about what if it went back down to where it was 2 days ago... and nah. Cut my losses, though I'm pretty sure it will be going back up above where I bought in. Just too volatile and uncertain. I was bummed, but then I stuck the money I still had from my thousand I added, about $800, into SNDL and more than made that loss back, and my other weed stocks gained hundreds today, too. So, eh, I'm alright with it. :) SNDL has been enjoying WSB hype and has been growing like mad (79% in today alone). I'm going to hold it until it starts to plummet (if it does, but I bet it will due to artificial inflation from reddit hype) and cash out, it's not on my list of long-term holds for cannabis stocks, but even if I sell it tomorrow, I gained 25% on it in a couple of hours, so still, score. :)

My favorite cannabis stock I have is GTBIF. My first stock, I bought it like 2 years ago at $9, and it's brushing $39 now. I bought a few more positions in dips. It's not a super fast gainer but it's steady. I'm about 150% up on it, a bit over 400% up on my first buy-in. I think I mentioned this before, but looking to buy in on the IPO for Verano Holdings, a cannabis company who is acquiring smaller companies and is going public sometime soon. My good friend who is deep in the industry says it is going to end up one of the biggest players because of who is running it, and the incredibly deep pockets they have. He's gonna let me know when it's first offered, planning to buy a large position on the ground floor.

Other than that I am moving more into ETFs, basically the new money I've brought in has gone to a few, ITOT, IXUS, ARKK, and XNTK. Seems like a good start for broad and more focused ETFs, which seem to have a great history of performing well. Those ARK ETFs are fucking nuts in their returns. Once I catch the cannabis boom, I'm going to take the profits and move much more into ETFs and maybe mutual funds, but first I need to transform my handful of thousands I have to work with into an actual substantial sum of money. So far I have had a few losses (GME/AMC being the biggest one), but I'm up about $1500 to date, so not doing too shabby, and have learned some lessons.
 
It is kind of skeeving me out that SO many companies are "mooning" basically just in the past couple of months, or even weeks. It reminds me of the sudden and extreme crypto spike in 2017. For those of you more experienced, does this seem to indicate that we're in a bubble and heading for a crash soon? What are your thoughts on that? Why are there so many charts that look like this?

OgSBxGd.png


Whenever a crash happens, I hope to be able to see the writing on the wall and cash all out into USD and hang onto it until I can buy back everything but double my positions and watch it all come back with a smile.
 
JahBeeuS said:
I can't get behind btc at this current price.

Maybe I kick myself when it hits 100k but I doubt it.

Regarding cannabis stocks $YOLO is a funny cannabis etf for namesake alone.
Click to expand...

I feel the same way. Lots of people are frothing at the mouth with FOMO, reminds me so much of the 2017 spike.

"Dude it's going $200k this year at least! Buy in now before you regret it! Soon BTC will be the global reserve currency and we'll be using it to buy groceries!"

I've heard it all before. Bitcoin will never be used for daily purchasing, it can handle like 5 transactions per second. Last time I sent $330 for gray market purposes, I had to pay $9 in transaction fees and it took an hour to clear. The price fluctuates wildly so it would make a terrible currency, let along reserve currency. Elon Musk can make a tweet and it shoots up $7,000, then drops again in a week. It's only worth anything because people agree that it is, there is no underlying value to it, unlike stocks, which are based on businesses providing goods and services. I have little doubt Bitcoin will grow much bigger, but I am not convinced it will become everything that people are hoping it will.

Now, next time it crashes and loses most of its value, you bet your ass I'm buying some. But at this price? Naw, I'd rather focus on the stock market.
 
The tesla purchase screams manipulation to me.

I'm too drink to fully flesh this out but

Either


A) tesla feels that btc is a better investment than their own company
(It may have been a very strong move by them as the recent disclosure isn't the actual date of purchase, they may have banked some serious money)

B) elon is just fucking with ppl, the market, etc.

C) they think they need that much in hand to start taking payment as such (not sure why they'd need any let alone that amount to start accepting it as payment for their vehicles. It's not like they need it to give change back....)
 
I think Elon knows that when he says this stuff, it moves the market. I mean if he bought $1.5 billion in BTC, that started a serious price spike, and then his announcement coupled with the initial spike from such a large volume purchase, and suddenly people are flooding 2 hundred billion more into BTC, and the price spikes from $38k to $48 in a few days. His investment of $1.5B is now worth ~$1.9B, a cool $400 million profit. That's one explanation anyway.

Various public figures like Elon, and also for a time, John McAfee, are easily able to, and often do, manipulate the market with their tweets. I wonder when regulators are going to start looking at that?

I mean he may have more altruistically been trying to drive up belief in BTC because he wants to see it become what people are wishing for it. Announcing that people can buy his product with BTC in the future injects some hope that BTC could make it mainstream as a payment method for things besides contraband.

Ultimately, Tesla now owns $1.5B of its net worth in BTC. Elon is banking that BTC will continue to grow, and that investment will become worth much, much more than it is now. If his example leads not only to retail investors trying to FOMO in to a spiking BTC, but also to other companies like his investing part of their holdings into BTC, then that will cause BTC to move towards the dream of $250k+ per BTC.

I will say, if indeed BTC becomes part of every company's holdings and every investor's portfolio, since it is a finite supply, it will grow much, much larger. But until it's able to be stabilized and not so prone to wild fluctuations, and until it's able to be transacted instantly with fees comparable to credit card networks, it will only really be a speculative investment by people hoping to transform it into a lot more money.
 
You must log in or register to reply here.
Top