Cryptocurrency (10 Viewers)

[AFL_ITALIA]

Is there a good forum to talk about stocks? No Reddit please.

https://www.juventuz.com/threads/stock-market.44389/
Some members here are knowledgeable. I am not one of them of course

I miss when WSB was fun

 

Buy on AliExpress.com

[lgorTudor]

Although I've lost money on them when I bought in 2018 and sold last April after the pandemic market dip.

Sorry man.....I love you but that made me laugh so hard and explained many of your toasts along the way

Please, for the love of god. I want you to make it and have nice returns. Once BTC goes below 30k and ETH below 1800 I want you to start DCAing fiercely and if BTC goes below 25k and ETH below 1500 you sell your TSLA and move it 50/50 into those. And then you just walk away for 3 years. Don't become a bitter copetard trying to seek validation for already failed predictions.

Sapere aude and good luck

 

[AFL_ITALIA]

Sorry man.....I love you but that made me laugh so hard and explained many of your toasts along the way

Please, for the love of god. I want you to make it and have nice returns. Once BTC goes below 30k and ETH below 1800 I want you to start DCAing fiercely and if BTC goes below 25k and ETH below 1500 you sell your TSLA and move it 50/50 into those. And then you just walk away for 3 years. Don't become a bitter copetard trying to seek validation for already failed predictions.

Sapere aude and good luck

Oh I don't care about that money at all . I only bought it at first because at the time I wasn't allowed to buy stock pretty much at all, so I figured why not throw a paycheck around? Wouldn't have been the first time I was wrong about something, so might as well make money off of it, right? I wasn't originally going to sell, but I was no longer on a restricted trading list and that market dip was far too good to pass up, so I moved the money from one asset to another.

One thing is for sure though, definitely won't be doing anything on Coinbase again.

For the record though, I was planning on dca-ing Bitcoin once prices (I assume will) crash, because fuck it. Wasn't going to be putting too much money into it though.

 

[Strickland]

what do you guys think of NFTs? according to this website (https://cryptoart.io/artists) there are 700+ artists who've sold their pieces for 100k+ which is serious money for something that ultimately holds no value, to me it's a little similar to buying those certificates of owning a star or bit of land on the moon.

only in case of those certificates it's usually around 100 USD, while here a lot of artwork that can be made in 2-3 hours is going around for prices like 50k-100k and more. is this some grand revolutionary idea I've failed to grasp or is it mostly made up of illicit actors who've found a fun way to launder?

 

[lgorTudor]

only in case of those certificates it's usually around 100 USD, while here a lot of artwork that can be made in 2-3 hours is going around for prices like 50k-100k and more. is this some grand revolutionary idea I've failed to grasp or is it mostly made up of illicit actors who've found a fun way to launder?

The latter

and also the former

but mostly the latter

 

[swag]

https://www.juventuz.com/threads/stock-market.44389/
Some members here are knowledgeable. I am not one of them of course

I miss when WSB was fun

WSB was a natural part of the arc on data-driven hobbies. Sports did it big time and was one of the first. Then I started noticing how CNBC and Bloomberg were turning into ESPN. So the contextual fun of WSB and goofiness like Barstool at the time was the natural next step.

Then people realized that the individual has more skin in the game with stonks than with rapist college football players.

what do you guys think of NFTs? according to this website (https://cryptoart.io/artists) there are 700+ artists who've sold their pieces for 100k+ which is serious money for something that ultimately holds no value, to me it's a little similar to buying those certificates of owning a star or bit of land on the moon.

only in case of those certificates it's usually around 100 USD, while here a lot of artwork that can be made in 2-3 hours is going around for prices like 50k-100k and more. is this some grand revolutionary idea I've failed to grasp or is it mostly made up of illicit actors who've found a fun way to launder?

I think you're spot on with the naming stars analogy. Ive been using that analogy since the beginning of the year. Because as with some star-naming registry, who's to say that registry is the valid one for the star? Certainly not any alien beings around that star, and also not if someone else creates a star registry in China. Similarly with NFTs, there isn't one blockchain.

So what's to stop me from claiming my blockchain's NFT for the Mona Lisa is the correct one? This is where the cryptosexuals often fail: that there isn't purely digital when it meets meatspace. That humans are messy and not binary inputs and outputs to plug into a DAO. So we again have to defer to human systems to negotiate where the ownership really lies despite all that digital hocus pocus. This is the challenge of trying to bind a digital authentication with something in the physical world.

Worse, take a look at who is buying up these high-priced NFTs. They're not art buyers or art-savvy customers. They're all crypto millionaires. They couldn't give a rat's ass about the art: the NFT is just a vehicle for more crypto investing. That to me suggests it has often little to do with the physical asset at all. I like to joke that the big NFT buyers couldn't tell a Kandinsky from Candy Crush, and I still stand by that.

I think what's needed for art NFTs to actually go beyond failed ICO hype will have to come from what you can do with them, instead of just HODLing. If an ownership NFT gives you previews of the artist's new show, discounts on admission to their events, etc., then they might actually be useful.

 

[Strickland]

I think you're spot on with the naming stars analogy. Ive been using that analogy since the beginning of the year. Because as with some star-naming registry, who's to say that registry is the valid one for the star? Certainly not any alien beings around that star, and also not if someone else creates a star registry in China. Similarly with NFTs, there isn't one blockchain.

So what's to stop me from claiming my blockchain's NFT for the Mona Lisa is the correct one? This is where the cryptosexuals often fail: that there isn't purely digital when it meets meatspace. That humans are messy and not binary inputs and outputs to plug into a DAO. So we again have to defer to human systems to negotiate where the ownership really lies despite all that digital hocus pocus. This is the challenge of trying to bind a digital authentication with something in the physical world.

Worse, take a look at who is buying up these high-priced NFTs. They're not art buyers or art-savvy customers. They're all crypto millionaires. They couldn't give a rat's ass about the art: the NFT is just a vehicle for more crypto investing. That to me suggests it has often little to do with the physical asset at all. I like to joke that the big NFT buyers couldn't tell a Kandinsky from Candy Crush, and I still stand by that.
I think what's needed for art NFTs to actually go beyond failed ICO hype will have to come from what you can do with them, instead of just HODLing. If an ownership NFT gives you previews of the artist's new show, discounts on admission to their events, etc., then they might actually be useful.

for it to be an investment, there has to be a big reselling market. which doesn't really exist, most of them are bought just once and that's it. e.g. this marketplace lists the primary and secondary sales of artists and the secondary market is laughable. https://foundation.app/trending

+ there's no scarcity, I'm no expert, but to me it really seems like once you have the grasp of how you do it, creating most of them is a matter of hours or even minutes. many of the popular artists seem to be able to create 3-5-10 new works every day.

which is why the basis of it sounds like a phantom shipments scheme to me, the launderers pretend they're paying for elite artworks but most of the times they're worthless

 

[Siamak]

for it to be an investment, there has to be a big reselling market. which doesn't really exist, most of them are bought just once and that's it. e.g. this marketplace lists the primary and secondary sales of artists and the secondary market is laughable. https://foundation.app/trending

+ there's no scarcity, I'm no expert, but to me it really seems like once you have the grasp of how you do it, creating most of them is a matter of hours or even minutes. many of the popular artists seem to be able to create 3-5-10 new works every day.

which is why the basis of it sounds like a phantom shipments scheme to me, the launderers pretend they're paying for elite artworks but most of the times they're worthless

the fact is, it does not produce anything, it just sits there.

 

[Ronn]

What can go wrong?
https://www.bloomberg.com/news/arti...ensions-make-a-direct-bet-on-cryptocurrencies

 

[lgorTudor]

What can go wrong?
https://www.bloomberg.com/news/arti...ensions-make-a-direct-bet-on-cryptocurrencies

Everything, goy stay away and buy 401k

 

[IliveForJuve]

Just made my first investment in an NFT play to earn video game.

My cousin's been doing it for a month and he made a good profit. Hopefully I'm still early enough in this ponzi scheme.

 

[swag]

The rule of ponzi schemes is knowing when to walk away.

 

[AFL_ITALIA]

Big jump earlier today because ????.

And then meanwhile you have whatever the fuck this is supposed to be spiking almost 20,000%
https://coinmarketcap.com/currencies/gincoin/

 

[Quetzalcoatl]

I try to pretend this doesn't exist anymore

 

[lgorTudor]

I try to pretend this doesn't exist anymore

been there done that, just leads to missing out more and more
wait for the next -30%, plant a big stack there, then keep planting small stacks on every 10% dip or so

Big jump earlier today because ????.

And then meanwhile you have whatever the fuck this is supposed to be spiking almost 20,000%
https://coinmarketcap.com/currencies/gincoin/

wash trading on scam exchange

 

[AFL_ITALIA]

Been looking into getting a mining rig, apparently you get taxed twice on it though which really kinda puts a damper on things.

 

[lgorTudor]

Been looking into getting a mining rig, apparently you get taxed twice on it though which really kinda puts a damper on things.

This is a horrible idea for more than one reason
1) It's physically impossible (read: IMPOSSIBLE) for a regular person to take possession of a new and unused ASIC miner because the manufacturers only sell hundreds of them in bundles to commercial mining operations. What the chinese scammers will sell you is last gen tech used for 6 months already labelled as 'new' while they setup their corporate customers with the latest models.
2) You live in NY which means you are paying 10-15c/kWh for electricity whereas the commercial farms are running at 3c and...
3) still only break even after 12 months nonetheless. If your electricity isn't free your breakeven point is too far away and will move back further if...
4) the market tanks. You'll be down a lot of money for a very long time.
5) taxes and regulation could leave you with a chunk of metal with no resale value

 

[AFL_ITALIA]

This is a horrible idea for more than one reason
1) It's physically impossible (read: IMPOSSIBLE) for a regular person to take possession of a new and unused ASIC miner because the manufacturers only sell hundreds of them in bundles to commercial mining operations. What the chinese scammers will sell you is last gen tech used for 6 months already labelled as 'new' while they setup their corporate customers with the latest models.
2) You live in NY which means you are paying 10-15c/kWh for electricity whereas the commercial farms are running at 3c and...
3) still only break even after 12 months nonetheless. If your electricity isn't free your breakeven point is too far away and will move back further if...
4) the market tanks. You'll be down a lot of money for a very long time.
5) taxes and regulation could leave you with a chunk of metal with no resale value

My uncle has a very close family friend that mines upstate by Niagara Falls, electricity is cheap there and the mining rig would be cheaper because of the personal relationship. I'll see though, I was running a few hypothetical calculations and it would take a bit less than a year to recoup the money even if Bitcoin prices were to drop to an average of $30,000.

 

[Siamak]

my friend invested on bitcoin and he sent image of his profit.

@pavelnel

 

[lgorTudor]

Forza your friend

leverage trading is probably the only thing I have never done in this space and never will