Bitcoins/Litecoins/Virtual Currencies

Flobee

Flobee

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Arden said:
It appears that Peter Thiel is taking Mike Green's side of the argument...

This is going to be interesting.

www.bloomberg.com

Peter Thiel Calls Bitcoin ‘a Chinese Financial Weapon’ at Virtual Roundtable

Peter Thiel is “pro-crypto” and “pro-Bitcoin maximalist,” but he also thinks the cryptocurrency may be undermining America.
www.bloomberg.com www.bloomberg.com

Also explains the current dip in crypto
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So if you actually listen to what Thiel says it sounds a lot more like "China is going to benefit from the rise of Bitcoin, it would be in the USA's best interest to deeply understand what is happening and get involved". This could mean further regulation or simply that the US Treasury needs to start stacking sats. A massive amount of BTC is held in the US so they're gunna get their piece. Need to get their head out of their asses and see what's coming first though.
 
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Arden

Arden

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Flobee said:
So if you actually listen to what Thiel says it sounds a lot more like "China is going to benefit from the rise of Bitcoin, it would be in the USA's best interest to deeply understand what is happening and get involved". This could mean further regulation or simply that the US Treasury needs to start stacking sats. A massive amount of BTC is held in the US so they're gunna get their piece. Need to get their head out of their asses and see what's coming first though.
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Yeah for sure he is calling for tighter regulation. He doesn't say "Don't invest in Bitcoin" but calling it a "Chinese financial weapon against the US" isn't exactly putting it in a positive light.

Either way, I think it's interesting that both he and Green are specifically calling out Bitcoin rather than calling out crypto altogether.
 
Sanrith Descartes

Sanrith Descartes

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Rajaah said:
Palantir might be my most-despised stock. I've got $600 in it that's been hovering in the range of $450-500 for two months now. I can't wait for it to actually turn a profit so I can GTFO. I know it's a long-term stock that might turn out great in a couple years, but it grinds my gears to buy in on something and then have it immediately fall to a lower level and sit there for weeks/months.
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Buying a stock on a downward move and it keeps dropping happens every day. Most times because no technical analysis was done or if it was the stock just ended up blowing through a support level. Shit happens. I have missed price targets more times than I can count. Assuming my technical analysis was right, they "almost" always correct themselves. Sometimes it takes longer than I predict. Mr. Market is funny that way and not in a haha type of funny.

Tldr: if you like the stock then hold it and ride out the downturn, if you don't like the stock and were just trying to swing trade it for a quick buck then you have to consider cutting bait. Either way do some analysis on the price technicals to assist in making a non-emotional decision.
 
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Flobee

Flobee

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Arden said:
Yeah for sure he is calling for tighter regulation. He doesn't say "Don't invest in Bitcoin" but calling it a "Chinese financial weapon against the US" isn't exactly putting it in a positive light.

Either way, I think it's interesting that both he and Green are specifically calling out Bitcoin rather than calling out crypto altogether.
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I would not categorize what he said as "for sure" calling for regulation. Just attention. He's only calling out BTC because its the only crypto that is endangering USD status. BTC is the signal, everything else (even legitimately good stuff) is noise in this context.
 
Arden

Arden

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Flobee said:
He's only calling out BTC because its the only crypto that is endangering USD status. BTC is the signal, everything else (even legitimately good stuff) is noise in this context.
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You might be right. Then again, it wouldn't surprise me at all if Thiel was quietly accumulating some alt coin at a super discounted rate and later comes out and says "Hey, Bitcoin is a Chinese weapon, but altcoin X here solves all those problems that plague BTC."
 
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Tmac

Tmac

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Rajaah said:
Not to derail into politics too much, but I was watching a documentary about college campuses and antifa blocking people from speaking and all of that idiotic nonsense, and Peter Thiel's name came up. Specifically they showed a protest at a college where he was going to speak, and activists were holding up signs saying Peter Thiel is not welcome and shit like that, probably some "white supremacist" signs too since they call everyone that, don't remember for sure exactly what they said.

Out of curiosity, any idea what that was all about, or what he did to offend The Mob?
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He’s a Republican.
 
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Haus

Haus

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I'm just upset that I figure this will be a brief accumulation phase before the next leg up. A good buying opportunity, but my next bucket of funds to drop in won't hit until end of month, and I suspect upward momentum will have reasserted by then.
 
Jackie Treehorn

Jackie Treehorn

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Mist said:
Can I buy Ethereum on Fidelity yet?
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Nope. Only thing you can do is link your Coinbase account and view what you have in Coinbase. I’m not even sure why it’s a thing, other than perhaps some day there will be more interaction between the two.
 
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Tmac

Tmac

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Jackie Treehorn said:
Nope. Only thing you can do is link your Coinbase account and view what you have in Coinbase. I’m not even sure why it’s a thing, other than perhaps some day there will be more interaction between the two.
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Doesn't even work for me. I linked my Coinbase and it never showed up.
 
Kiki

Kiki

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Robinhood ( I know I know) let's you buy Eth now. Doesn't seem like any fees either.
 
Jackie Treehorn

Jackie Treehorn

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Kiki said:
Robinhood ( I know I know) let's you buy Eth now. Doesn't seem like any fees either.
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They’ve let you buy crypto for some time. Problem is it’s not exactly the best way to buy it. You don’t actually have a wallet for it so you have no real control over it. Robinhood owns the coins, you just have a representation of it.

Also, fuck Robinhood in general. That said if you want to day trade crypto it’s probably not a horrible thing since it’s zero fees I think.

I’m sure there are many other reasons it’s bad smarter people here can explain.
 
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Kiki

Kiki

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Yeah, there is no way to transfer it, but with Binance not having a license in Texas, it probably beats Coinbase's 3% and 1% sell bullshit or whatever.
 
Arden

Arden

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Jackie Treehorn said:
They’ve let you buy crypto for some time. Problem is it’s not exactly the best way to buy it. You don’t actually have a wallet for it so you have no real control over it. Robinhood owns the coins, you just have a representation of it.

Also, fuck Robinhood in general. That said if you want to day trade crypto it’s probably not a horrible thing since it’s zero fees I think.

I’m sure there are many other reasons it’s bad smarter people here can explain.
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Right- if you eventually want to stake your ETH, you can't move it from RH to a staking location to do so... huge disadvantage. Even if you don't care about the "your keys, your crypto" angle, not being able to pull it off the exchange it's on for any reason is enough to avoid using RH.

I made the mistake of buying my ETH on Paypal without realizing they do the same bullshit. I took a loss selling and rebuying on Binance.

There's also a dirty little secret about RH: they make money off your trades even without charging you a fee. That's how they stay in business. When you set a limit buy, they wait until the price drops fractionally lower than your limit and then buy and keep the difference. Same with your sales. They wait until the price rises fractionally higher than the price you set, and then they sell. Shady af.
 
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Jackie Treehorn

Jackie Treehorn

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Alright, I’ve got some coin now. Maybe I’ll buy another $20k worth in the coming month or something, we’ll see how it goes. If ETH does what a lot of people here and elsewhere says it will this year this is a healthy start I guess. Would have been nice I had I got a cost average at 1800 or less but waddayagonnado.

F915DD7C-68E1-4BE3-B878-CE2650AB3394.jpeg
 
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Tmac

Tmac

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Jackie Treehorn said:
Alright, I’ve got some coin now. Maybe I’ll buy another $20k worth in the coming month or something, we’ll see how it goes. If ETH does what a lot of people here and elsewhere says it will this year this is a healthy start I guess. Would have been nice I had I got a cost average at 1800 or less but waddayagonnado.

View attachment 346982
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Feel free to DM me, but where the eff do you get all this cashflow??

My wife and I have $38k in savings but I feel iffy about putting into investments.
 
Haus

Haus

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Mist said:
Can I buy Ethereum on Fidelity yet?
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No, but they are doing a partnership to let you take out loans against you BTC through BlockFI.

You probably won't see real direct crypto options through the big houses like Fidelity until next year. You're more likely to see a BTC ETF this year and be able to buy into it through the regular markets.

Just saw a great video on the "Buy assets and never sell them" process and I think I'm becoming a convert.
 
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