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the market: stocks, bonds, options, whatever

TripSitterNZ

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Sounds like a pyramid scheme. My cousin always get involved in so many of them ranging from crypto to just outright mutli level media marketing peddling bullshit products.

I also wary of any place wanting your phone numbers info or anything. Crypto should be crypto not track yall ass and steal all your info to sell to people
 

jhjhsdi

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Sounds like a pyramid scheme. My cousin always get involved in so many of them ranging from crypto to just outright mutli level media marketing peddling bullshit products.

I also wary of any place wanting your phone numbers info or anything. Crypto should be crypto not track yall ass and steal all your info to sell to people
Don't actually think it's crypto like btc is, i heard you won't be able to buy drugs with it because it's traceable
 

Xorkoth

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pi seems like fraud i doubt the auctions are acutally legit.

Make sure you verify your phone number and get kyc verification (you need yoti), otherwise you won't be able to make transactions once phase 3 and the wallets are rolled out

So I started looking into this because when trying to run the node I have had to open up ports and totally open my computer up to them. I get a "warning: Trojan detected" after that and it won't connect because my antivirus blocks it.

Besides the hordes of people spamming it, I am encountering a lot of people saying that it doesn't even make sense. There is a conclusion a lot of people have reached that it is a fake thing to get people to watch an ad every day, and also to collect personal information, for some sort of purpose, which could be selling that information. The more I think about it and read, the more I think this is likely the case. The app doesn't actually perform any calculations or anything, it doesn't quite make sense how that is mining... apparently there is also the ability to offline mine (some people said this, I'm not sure if it's true as I haven't explored the ;program much), and if that is the case then it really makes no sense.

I dunno man, I don't think I trust it. They're blasting FOMO "the next Bitcoin, get it for FREE, cheap while you can!". They're running the testnet, apparently, and say they're only taking a limited amount, but there are over 7 million users? The "mining" process they refer to doesn't really make sense to me. The KYC involves you giving substantial personal information. It smells fishy. I think I'm going to get rid of it, certainly not gonna do "KYC" anymore.

Beware guys...

Here is an example of some of the feedback I've been reading that helped me to reach this conclusion:


There are pages of it, and plenty of other criticism of the same nature elsewhere
 

Xorkoth

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Scratch that, there were 8 million people in September last year, there are undoubtedly WAY more than that now. Makes no sense for a testnet.
 

jhjhsdi

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I thought all the same but I've seen the thriving market with my own eyes, ill send you the invite to the discord if you wana check it out.
Also theres the pi lifestyle app where you can see all the currently running stores including mine, and also bid on the auction and some other shit features

Mining costs you ~75mb a day, you cant do it offline. So it costs 2gb a month, if you're use mobile data.

That node sounds dodgy lol
 

jhjhsdi

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Got some guy in the states sending me 3 bags of the hottest taki chips in exchange for some pi (10) that took less than a day to mine

Aparantly they're mega hot, I'm well keen.

Its technically free stuff at this point, pi could never amount to anything.

It could also end up like bitcoin in which case they'd be some mega expensive chips 😂
 

usual-suspect

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After my losses this past week, I decided to stick 99% to my long-term holds based on fundamentals. But I like the thrill of betting on gains, so I decided to take $100 (a tiny fraction of my portfolio) and consider it my high risk slush money. I took a look through the penny stocks reddit sub, looking for companies that had a few mentions and had not budged much from their baseline. I stuck that $100 into a very small market cap penny stock today that a few people mentioned, which had grown by 10% each day the past 2 days but no more than that. I think I may have timed it just right because it grew 30% today and the graph is beginning to look like the runup to a big spike. Since it's such a small amount, I'm not too worried about it, but if it takes off on reddit, it could do a quick 10x easily, and I'd gain a nice amount of money. This is my first one, so I'm just experimenting. I could set a sell limit at 2x or 3x but I haven't yet, going to see how it goes and if I miss the spike (if there is a spike), then I've learned, and I also have the chance to get some serious gains.

It satisfies the thrill of betting that I enjoy, while not putting me in any danger of serious losses. Even if the spike happens briefly and I miss it, it should go back to slightly below the level that I entered, because it was plugging along at relatively the baseline when I got in. I figure I'll try to play with this strategy, and if it succeeds from time to time, it will be a nice boost and a little bit of excitement. If this strategy proves fruitful, I'll probably start setting some multiplier as a sell limit as soon as I enter... if I set it to 2x gains, I could easily catch even a very minor spike, because with really low market caps, it doesn't take much to push up to that level.

We'll see what happens. :)
Worst thig can happen is you are lucky ang get 10x and then get greedy and invest the 1000$ again and lose them.

Like I said, when I get one of those lucky streaks where I get 30% profit in a few hours I just leave the market for a week, at least. Then means that I will not lose that money, it also means I won't get into more opportunities (because when those things start to pop there's usually a chain of stocks going up one after the other) But what happens at the end when you get a strike of really good winners, you become too greedy, start to risk too much and lose everything in the last 2 or 3 trades, when the music finally stops and everybody is looking for a chair. It is possible to do it well and get most of the profits and get out when you smell the end, but you need time to study and think, meaning you need to be in the markets like 6 hours daily reading and annalysing information. I don't have time for that
 

Xorkoth

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Got some guy in the states sending me 3 bags of the hottest taki chips in exchange for some pi (10) that took less than a day to mine

Aparantly they're mega hot, I'm well keen.

Its technically free stuff at this point, pi could never amount to anything.

It could also end up like bitcoin in which case they'd be some mega expensive chips 😂

I don't understand though, at this point anyone can extremely easily get a bunch of pi every day for free, why is anyone trading it for money or real goods right now? The whole thing is weird the more I read about it.
 

Xorkoth

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Alright I am going to stick with the phone app, if they ask for anything beyond what every fucking company lready knows about me (name + phone number) for KYC I won't do it. I won't install a node, that's for sure, way too sketchy. At the moment I can't see how running the app is doing any harm. And my name and phone number is all over the place already.

Did you do KYC yet, jhjhsdi? What do they ask for?
 

Xorkoth

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Worst thig can happen is you are lucky ang get 10x and then get greedy and invest the 1000$ again and lose them.

The most I will stick in at this time for these penny stock plays is $100/ So if I turn $100 into $1,000, I will keep $900 to invest in ETFs, and stick $100 back into something else.

At some point down the road when my portfolio is much larger, I may increase the amount proportionally but it will remain only a tiny fraction of my total portfolio.
 

jhjhsdi

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Alright I am going to stick with the phone app, if they ask for anything beyond what every fucking company lready knows about me (name + phone number) for KYC I won't do it. I won't install a node, that's for sure, way too sketchy. At the moment I can't see how running the app is doing any harm. And my name and phone number is all over the place already.

Did you do KYC yet, jhjhsdi? What do they ask for?
No i havent had the offer to get it yet, you have to show ID with the Yoti app aparantly...

And yes its 100% mad, people are trading it for real goods of value, when anyone can get it for free atm. Mining opportunities stop pretty soon though iirc.
 

electronDegenerate

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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?



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.
This is exactly why I didn't buy BTC when it was at like $24000. I was so inexperienced with crypto at the time and had just got into it when that crash happened. Ended up losing like $4000!
 

Branggen

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how far can the stock market max out in the future surely there comes a point where the stocks are so expensive it hits a limit. Though over the past decades they have overall all increased. Will incomes rise to match such things or will the wealth gap get so large between the rich and poor. Will the market hit 100k by the end of the century?

I want to try find a start up that becomes big sometime in my life invest in it early and make bank.
I mean it pretty much just goes up and up and up with inflation
 

Xorkoth

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Yep me too. I bought BTC for the first time (to invest, I started buying it for drug payments when it was worth like $100) when it was starting to rise to the 2017/2018 peak, at $7,000. But then went like 90% into altcoins and most of that was at their absolute peak, while believing it was just starting, because of the fomo. Ended up turning $3,500 into $500. I did get out by selling after like a year or so, if I hadn't, I would actually be a little bit up now, but just barely.
 

Xorkoth

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I contribute 10% of my salary to my 401k, and my company matches 5% (most they'll match), so I got that covered, I don't even think about that money because it gets taken out pre-tax and I never see it. It gives me a lot of peace of mind to have that happening, so that I can retire some day and support myself. I wish crypto hadn't turned me off from investing for a while, I almost decided to start investing when the market tanked in April, but decided to put it off, would have been awesome to have caught that quick recovery from the bottom. But that's okay, I think ETFs and mutual funds as long-term holds are pretty surefire ways to grow your money. They even survive market crashes if you don't sell.
 

usual-suspect

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I contribute 10% of my salary to my 401k, and my company matches 5% (most they'll match), so I got that covered, I don't even think about that money because it gets taken out pre-tax and I never see it. It gives me a lot of peace of mind to have that happening, so that I can retire some day and support myself. I wish crypto hadn't turned me off from investing for a while, I almost decided to start investing when the market tanked in April, but decided to put it off, would have been awesome to have caught that quick recovery from the bottom. But that's okay, I think ETFs and mutual funds as long-term holds are pretty surefire ways to grow your money. They even survive market crashes if you don't sell.

That's the key. Long term is the first condition to make some money. It doesn't mean it's guaranteed, because even for SP500 there's been 10-year periods where a previous market high isn't taken.

Second condition is to be able to contribute monthly or weekly on that long term period. If you go all-in in a market high and never put more cash in, you might be still losing money after 10+ years

Third condition is: pay attention to fees and costs. Never use funds that charge you 1% or more... Best bet is use cheap passive ETFs or fund that charge you under 0.1%

Fourth condition is choose well where you invest, but that count much less than previous conditions, but you can distribute your portfolio in different categories, more or less conservative and try to play that to beat the market by a small margin, or you can do even a bit of market timing trying to put more money into stocks in market crashes like recent covid, or less money into stocks when interest rates start to raise.

Losing money in short term trading is much, much easier (but is true you can make a much more profit, if you are really good at it, something you must avoid to believe at all costs unless you know you have some edge over millions of investors)
 

Xorkoth

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My little $100 penny stock gamble shot up over 100% from previous close right after open, and now has seemed to stabilize right around 65% above previous close. I thought about selling but the overall trend has been steadily upwards every day, and they made another announcement about acquiring another company today so I'm going to see if it goes higher. I could cash out and get $200 from my $100 right now, but it's such small money I might as well see how much higher it will go. Volume is very heavy (for the average on this stock) so I think it's actually generating interest rather than being manipulated. But this, too, shall be learning.
 

ions

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Who wants to talk about all the btc the us seized from dark net. That ain’t right. I for sure say they weren’t right on that.
 
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