Investing in the stock market

[jonnysensible]

I guess when I'm counting my billions a decade or so from now, no one will be able to tell me I didn't try to help people.

dude you keep banging out this laughs, thank you.

[Afrospinach]

The thing is, you won't convince these people, heads in the sand and whatnot.

Did it ever occur to you that you are that person?

[Feltima]

dude you keep banging out this laughs, thank you.

I flipped a few grand into a few million in less than four years. What's so laughable about some poor dude from south side Chicago flipping millions into billions over a couple of decades? Buffett, O'Leary did that on traditional stonks. I guess it is laughable if somehow you think technology being employed by the IMF, central banks, governments will somehow go belly up really soon.

[Belize]

I flipped a few grand into a few million in less than four years.

Sure you did buddy.

I can't think of any millionaire of isn't desperately trying to justify his investment on online game forums, with banger arguments like "read the documents the company I invested into released".

[Feltima]

Sure you did buddy.

I can't think of any millionaire of isn't desperately trying to justify his investment on online game forums, with banger arguments like "read the documents the company I invested into released".

Maybe because I'm a normal guy who did well for himself, and is just excited to talk about the tech that's consumed a great deal of my focus over the past few years. Perhaps I was more interested in talking about how cryptocurrency can facilitate a transition to a post-capitalist economic system without expensive social upheaval and unrest. I don't care if you check out Ripple because I'm invested in the digital asset they work on, rather, this is the new economic system that's being rolled out in plain sight, but no one is talking about.

I don't even understand what I said that has made so many of you so hostile towards me. I could care less what you guys invest into. The stuff I'm talking about aren't my opinions, it's literally what's happening. SEC vs Ripple is the biggest SEC lawsuit since the Howie test was conceived. An SEC director is being deposed over it. That's not normal. The dude is probably going to be pleading the fifth not to incriminate himself. Companies like Ripple, R3, etc are working with central banks and the IMF. Ripple has worked with the US treasury which has had an XRP validator node for years. They regularly do conferences with central banks, blah, blah, blah. My point is, why are you so deadset to shoot the messenger?

Why is it so unbelievable to you? You ever look into how many people have become filthy rich from crypto? I learned how to do technical analysis. I invested in digital assets over the past few years. Those assets went 10-100x over the past few years. You know what's crazy? It's absurdly easy to make money after you can read a chart. You don't need a master's degree in finance to make money. I'm not that special, I'm sure there are at least several dozen people on this website that have much more money than I do. TBH, I can't wait till this shit is mainstream and I don't have to be the "crypto guy" anymore. I want the market to mature and not have the wild-ass volatility so I don't have to keep playing hot potato with my money.

[Elegiac]

IMeanwhile, we are explaining the exit plan that solves global inequality and global poverty in one fell swoop by creating a decentralized medium of exchange.

All the while conveniently never actually explaining how inequality and poverty are a result of a central medium of exchange and not... you know... capitalism.

You know, besides weird ass conspiracy theories about petrodollars and quantative easing and not understanding what monetary policy is.

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I want the market to mature and not have the wild-ass volatility

The fact you don't understand that the high gains early adopters of crypto is linked directly with its volatility and that this is no different from existing forms of financial speculation is... interesting.

Once again: "I did it therefore everyone else can" has a big fat citation needed hanging next to it. Otherwise repeatedly mentioning how well you personally have made off speculation is entirely inconsequential to how to better structure a fair economy.

Which again is not even getting into the ecological ('green' crypto continues to be a myth because it takes up processing power above and beyond what is required to sustain a regular digitized currency, that is a simple fact) and social costs (see: NFTs and the ways in which financial speculation destroys pretty much everything).

The fact folks like the IMF have taken an interest is a sign they don't view crypto as an existential threat to the status quo. So either they're delusional, which begs the question of how valid they are as a source for your arguments, or they're correct and saying 'crypto will fix capitalism' is itself the delusion.

[Feltima]

The fact folks like the IMF have taken an interest is a sign they don't view crypto as an existential threat to the status quo.

INDEED!!! This has my whole point about this system, it's being designed by and for the central banks who are working with DLT/Blockchain firms like R3, Ripple, etc that have built digital assets that is an upgrade opposed to the Bitcoin whitepaper libertarian idealism that diametrically opposes central banks. Ripple's business philosophy is to be the tech giant with the olive branch to the old system. And I do understand that cryptocurrency's contemporary profitability is due to solely speculation. I look forward to UTILITY over speculation. I watched the whole DeFi craze happen, and didn't touch that shit with a ten foot pole, because I know it's going to get regulated into oblivion, as it should.

When utility kicks in, and quadrillions of volume are flowing through several cryptocurrency ledgers like XRPL, the price of these assets will dwarf these speculation bull runs. At that point, I'm good. I don't need to make any more money. At that point, I'll be so disgustingly wealthy, I'll probably have an existential crisis as I figure out what I'm gonna do with all this damn money.

And you're wrong, jesus, just google the tech! I don't understand why folks hate this stuff so much, but won't even look into it. It would take 30 seconds to google impact of XRP compared to cash and other cryptocurrencies.

[Elegiac]

INDEED!!! This has my whole point about this system, it's being designed by and for the central banks who are working with DLT/Blockchain firms like R3, Ripple, etc that have built digital assets that is an upgrade opposed to the Bitcoin whitepaper libertarian idealism that diametrically opposes central banks. Ripple's business philosophy is to be the tech giant with the olive branch to the old system.

Which, again, leads to the conclusion that either the IMF is stupid for working with something that would upend the status quo, which it is their mission to preserve, or that the IMF is not stupid and crypto is not actually going to address the real problems.

And I do understand that cryptocurrency's contemporary profitability is due to solely speculation. I look forward to UTILITY over speculation. I watched the whole DeFi craze happen, and didn't touch that shit with a ten foot pole, because I know it's going to get regulated into oblivion, as it should.

Ergo, you are the definition of an outlier since that profitability is not replicable for most people.

When utility kicks in, and quadrillions of volume are flowing through several cryptocurrency ledgers like XRPL, the price of these assets will dwarf these speculation bull runs. At that point, I'm good. I don't need to make any more money. At that point, I'll be so disgustingly wealthy, I'll probably have an existential crisis as I figure out what I'm gonna do with all this damn money.

I.e. cryptocurrency does not fix the problems with capitalism, it just creates a different set of capitalists.

We saw how well that went with the tech industry. "Decentralization" is not the same thing as "democratization".

And you're wrong, jesus, just google the tech! I don't understand why folks hate this stuff so much, but won't even look into it. It would take 30 seconds to google impact of XRP compared to cash and other cryptocurrencies.

That's nice, now scale that up to the levels of general adoption that you want and compare that to existing currency systems.

And again, not even addressing how shit like NFTs are destroying digital art.

[Feltima]

Which, again, leads to the conclusion that either the IMF is stupid for working with something that would upend the status quo, which it is their mission to preserve, or that the IMF is not stupid and crypto is not actually going to address the real problems.

Or maybe, just maybe they can't keep the global economy under control without it overheating and collapsing forever. Maybe the cost benefits (will save financial institutions billions annually), more advanced technology makes it attractive enough to evolve. Doesn't really matter, maybe they are stupid. It's moot, because it's already happening.

Ergo, you are the definition of an outlier since that profitability is not replicable for most people.
I.e. cryptocurrency does not fix the problems with capitalism, it just creates a different set of capitalists.
We saw how well that went with the tech industry. "Decentralization" is not the same thing as "democratization".

Not on its own, no. Of course not. It's a technology, a tool. Nothing more, nothing less. Nuclear fission provided vast amounts of energy, while also creating mass destruction. Cryptocurrency is no different. It's already being employed though. So dismissing it is folly, and it's a damn shame so many people don't understand how amazing this stuff could be.

And as far as me being an outlier? XRP is going for about .50 cents right now. XLM is cheaper, like 5 for 1 right now. XDC is only 6 cents and there are many more. You could drop a thousand bucks between all of those, forget about it for a couple of years, and have life-changing money. It's that easy right now, because these are genuine utility-based digital assets.

That's nice, now scale that up to the levels of general adoption that you want and compare that to existing currency systems.

Well, if you actually googled the damn tech, you would learn that proof of consensus doesn't need processing power to run the network. The entire network already exists in totality. All it needs is a number of democratically elected validators who can vote to make changes on the network, which it is how XRPL works. Ripple could disappear tomorrow, and XRP will still exist. That's the whole point, it's decentralized. If XRP required vast amounts of energy, then it wouldn't scale.

The reason FIs can send billions for a fraction of a cent, instantly, is because it doesn't need any processing power. It's why BTC transactions can take over an hour. It's why there are so many miner farms across the world. Just google "XRP mining". You won't find anything, because it doesn't make any sense. XRP is the real deal. It's legitimately scalable globally.

And again, not even addressing how shit like NFTs are destroying digital art.

I'm not super into NFTs for the same reason I didn't really delve into DeFi. From word of mouth of artists I know, they like it. From what I have learned about it, it's a tech that has a future, but for now its just another extremely speculative bubble. Please tell me more about how it's destroying digital art. I'm no artist, but I do greatly appreciate art.

[Ursus]

My IQ has dropped a couple dozen points reading this thread.

I would wager that your own posts are responsible for the overwhelming majority of that decline. Regardless, I'd get out of this thread ASAP if I was you, you clearly cannot afford another plummet.

[jonnysensible]

so let me get this right, there is going to be an economic collapse because of hyperinflation? you have millions in fiat and hope one day to have billions in fiat?

please stop.

Also XRP needs to be called RIP because its gonna die. Given your stanning of it, heres what i think. You have loads of XRP, and want to dump the bag on anyone so you are preaching its virtue on a gaming forum looking for chumps before it gets delisted. Or you dont understand what you are talking about (given comments on hyper inflation also likely).

[Feltima]

so let me get this right, there is going to be an economic collapse because of hyperinflation? you have millions in fiat and hope one day to have billions in fiat?

please stop.

Also XRP needs to be called RIP because its gonna die. Given your stanning of it, heres what i think. You have loads of XRP, and want to dump the bag on anyone so you are preaching its virtue on a gaming forum looking for chumps before it gets delisted. Or you dont understand what you are talking about (given comments on hyper inflation also likely).

No, I don't have a bunch of FIAT in millions. I've got a lot of XRP, XDC, XLM, ALGO, and QNT. I don't mess with it much because I don't want to spend it and miss out on the potential, let alone deal with the tax nightmare. The moment I cash out any substantial sum, I'm going to get audited I'm sure. You know what? If XRP looks like it's going to legit die, I'll just move to other assets. I'm not married to XRP because "muh coin" tribalism. That stuff is stupid. Ideally, I won't ever have to sell into FIAT and continue to generate income via compound interest using assets like FLR. These assets are gaining payment rails.

Hyperinflation? Deflation? Whatever. I don't care how it happens. Al I know is that the new economic system that's being actively worked on will use assets like XRP for interoperability between CBDCs. I doubt anything I say in here is going to somehow cause a chain reaction that pumps XRP so I can dump on people. I'm not Elon Musk or some mega whale. Baby whale at best, certainly not enough to move multi billion marketcap coins like XRP.

[Gaidax]

I just let a veteran investment organizations here handle in, they don't give cryptobubble %, but they also don't deal with it and do it old style s&p500.

I have two of those with funds spread in-between. This will never make me rich, but aside from some sort of apocalypse, I hope they will make just enough for me to have reasonably comfortable sunset years.

I tossed some small amount at cryptobubble like $15k USD, but I have no expectations at all. If it all goes up in smoke, I'll be fine and if it actually delivers, then would be nice, but also not earthshattering.

[Belize]

No, I don't have a bunch of FIAT in millions.

Annnndddd there it is.

Well, let me know when you buy your mansion with XRP

[Ursus]

Wasn't there a different thread for the CryptoCult stuff?

Yes, here: https://www.mmo-champion.com/threads...ght-on-Bitcoin

But a number of them have migrated over to this thread in the hopes of recruiting some patsies into their pyramid scheme.

[Belize]

Yes, here: https://www.mmo-champion.com/threads...ght-on-Bitcoin

But a number of them have migrated over to this thread in the hopes of recruiting some patsies into their pyramid scheme.

But if we invest, and get our friends to invest, and then their friends, we can all be rich!

[Gaidax]

But if we invest, and get our friends to invest, and then their friends, we can all be rich!

Smart people put a small amount into that shit, in case it baloons you will have a nice a bonus and in case it goes to hell you aren't going to be crying over that.

Really can go either way, it's a gamble after all.

[Belize]

Smart people put a small amount into that shit, in case it baloons you will have a nice a bonus and in case it goes to hell you aren't going to be crying over that.

Really can go either way, it's a gamble after all.

Smart people would put all their money in canned food and shotguns.

[Feltima]

Annnndddd there it is.

Well, let me know when you buy your mansion with XRP

If I really, really wanted to, I could. I got my XUMM wallet card last week. I can use that for purchases, or if I wanted to cash out, I could have millions of USD in fiat by next week. Question is, why on earth would I do that? You think Bezos or Musk are so liquid that they can drop billions at any given moment? Nah, their money is still working for them. By keeping my money in crypto, earning compounding interest, not even trading, it's still working for me. On top of that, what would be the point? To buy a bunch of lavish stuff? I've been poor/broke my entire childhood and most of my adult life.

Funny thing, you don't suddenly desire to buy a bunch of rich people stuff. I haven't even bought a car yet, because, in Chicago, they're more a luxury than providing much utility. I've recently moved to SoCal and am begrudgingly working myself up to withdrawing and actually buying a nice car. I don't have any rich guy spending habits, need a bunch of space, or out there trying to flex. I honestly just love the tech, and found something I seem to be pretty good at. I'm happy to be rich with time than doing rich people stuff.

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Smart people would put all their money in canned food and shotguns.

Truth, I've been stocking up on rice, canned food, and got a couple of weapons.

[Zan15]

If I really, really wanted to, I could. I got my XUMM wallet card last week. I can use that for purchases, or if I wanted to cash out, I could have millions of USD in fiat by next week. Question is, why on earth would I do that? You think Bezos or Musk are so liquid that they can drop billions at any given moment? Nah, their money is still working for them. By keeping my money in crypto, earning compounding interest, not even trading, it's still working for me. On top of that, what would be the point? To buy a bunch of lavish stuff? I've been poor/broke my entire childhood and most of my adult life.

Funny thing, you don't suddenly desire to buy a bunch of rich people stuff. I haven't even bought a car yet, because, in Chicago, they're more a luxury than providing much utility. I've recently moved to SoCal and am begrudgingly working myself up to withdrawing and actually buying a nice car. I don't have any rich guy spending habits, need a bunch of space, or out there trying to flex. I honestly just love the tech, and found something I seem to be pretty good at. I'm happy to be rich with time than doing rich people stuff.


Truth, I've been stocking up on rice, canned food, and got a couple of weapons.

Bezos and Musk have lines of credit at multiple institutions for which they could drop billions at any given moment.

Also it takes about 10 seconds to liquidate a cool billion worth of stock and most likely their brokerages would front the cash instantly for them to use that day once the stock sold.


Also how in the world is your compounding interest beating out the 30-40-50% drop in crypto in the past couple months?