Jump to content
bornontheblue

Stock Market

Recommended Posts

I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. 

Thay Haif Said: Quhat Say Thay? Lat Thame Say

Link to comment
Share on other sites

42 minutes ago, Old_SD_Dude said:

I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. 

I was in the same situation as you are.  I just did a bunch of research, talked to some knowledgable folks ... watch several videos (white board crypto), audited an MIT class taught by Gary Gensler (before he was head of the SEC) and I'm not an expert now but I understand it well enough.  Blockchain has flaws but has a place and will work it's way into the financial world (already has) but cryptocurrency is just another form of gambling/investing as are NFTs .... like pretty much anything else it's only worth something if enough people think it is.  

The MIT course was pretty good and I learned a great deal. And you don't have to be brilliant to understand it.  Google it.  He taught it in 2017.

 

(btw, NFTs are a scam )

  • Like 1
Link to comment
Share on other sites

On 6/19/2022 at 6:01 PM, Old_SD_Dude said:

I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. 

I still don't understand how it "mined" :shrug:

Link to comment
Share on other sites

On 6/16/2022 at 11:06 AM, bornontheblue said:

Anybody get any Ibonds pegged to inflation 

Max 10,000

Interest rate is currently 9.62%

Must hold for 5 years to avoid penalty

 

Yes. 

You can actually pull anytime after 1 year, but just lose a couple months on interest. Planning to scale up and eventually have my full emergency fund (6+ months of expenses) in readily available i-bonds. Anything's better than the checking account that isn't raising rates despite everything else getting more expensive. 

And I believe it's 10k per SS#, so you can even have them in your kids' names. Was thinking about it, but figure their Coverdell will bounce back and then some by the time they're 18

  • Like 1
Link to comment
Share on other sites

On 6/16/2022 at 10:06 AM, bornontheblue said:

Anybody get any Ibonds pegged to inflation 

Max 10,000

Interest rate is currently 9.62%

Must hold for 5 years to avoid penalty

 

Yeah. Started buying in December. Bought more in January and bought another round in April. Wife and I maxed out until next year . Penalty is just three months interest if you withdraw early.

Link to comment
Share on other sites

On 6/19/2022 at 7:01 PM, Old_SD_Dude said:

I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. 

 

On 6/19/2022 at 7:43 PM, Someone Else said:

 

 

(btw, NFTs are a scam )

 

Link to comment
Share on other sites

On 6/24/2022 at 1:29 PM, Maji said:

nice little bear market rally here

well, of course. I just began the process of rolling over a 401(k) into my IRA so of course there is a rally while I’m in limbo!

  • Like 1
Link to comment
Share on other sites

On 6/24/2022 at 2:29 PM, Maji said:

nice little bear market rally here

I didn’t sell any slices today (or week).  I’m feeling good about two small bios going into binary events in H2 ‘22.  Cash % ticked up a bit before this week as the denominator went down (reversed this week), and I think it’s too late to add more unless this rally extends another week or more. I’ll keep my passive income and retirement income in cash (excepting funds w/auto repurchasing).  

Many scenarios are still in play.  

Link to comment
Share on other sites

On 6/24/2022 at 4:59 PM, Pasco Bronco said:

It's very addicting. She's probably checking her wallet or exchange every ten seconds lol

Heh, you know it! She's at $220 now so she super stoked she's made $20 in that week. She now wants to buy more though...

  • Like 1
Link to comment
Share on other sites

On 6/19/2022 at 6:01 PM, Old_SD_Dude said:

I know I’m probably really showing my age but I don’t understand cryptocurrency. I read an introduction for beginners and I still don’t understand it. 

As an investment, crypto is very similar to precious metals. There is a finite amount of every crypto. There's also  a fluctuating fiat value, just like metals. 

Right now, bitcoin is to crypto what Gold is to metals, and ethereum would be silver.

Crypto has also revolutionized banking. Now anyone with a phone and acces to a bitcoin atm can be their own bank and wire transfer service. Here in San Francisco, the atms have lines around the corner every Friday.

Link to comment
Share on other sites

On 6/24/2022 at 4:08 PM, Stealthlobo said:

Heh, you know it! She's at $220 now so she super stoked she's made $20 in that week. She now wants to buy more though...

Yeah, ten percent per week is  a really big deal when you're used to traditional investments. 

I only buy on Fridays or weekends if there's been really bad economics news. I like to wait until Monday when all the payday money isn't affecting the price. 

Link to comment
Share on other sites

On 6/24/2022 at 1:15 PM, Pasco Bronco said:

As an investment, crypto is very similar to precious metals. There is a finite amount of every crypto. There's also  a fluctuating fiat value, just like metals. 

Right now, bitcoin is to crypto what Gold is to metals, and ethereum would be silver.

Crypto has also revolutionized banking. Now anyone with a phone and acces to a bitcoin atm can be their own bank and wire transfer service. Here in San Francisco, the atms have lines around the corner every Friday.

not the same.  Can't put crypto in my safe deposit box...;)

Link to comment
Share on other sites

On 6/24/2022 at 5:25 PM, Pasco Bronco said:

Yeah, ten percent per week is  a really big deal when you're used to traditional investments. 

I only buy on Fridays or weekends if there's been really bad economics news. I like to wait until Monday when all the payday money isn't affecting the price. 

Well I bought $10k last fall, worth like $2k now. So she's also stoked she isn't losing money like I did lol.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...