Investing in the stock market

[SavoirFaire]

Well tomorrow should be interesting

Wonder if they will make "DeepFuckingValue" admit he sold all his GME holdings the day he decided 'not to update daily' anymore.

you know when everyone in WSB was chanting "if he's still in, i am still in"
'

Im guessing his lawyer told him to stop posting, because there is no way he didn’t get a lawyer. This man is clearly not a fool.

I’ll have to read up on the highlights of his testimony. I can’t stand politicians grandstanding which is usually the focus of these hearings moreso than whatever they are trying to “get to the bottom of”.

[Edge-]

Im guessing his lawyer told him to stop posting, because there is no way he didn’t get a lawyer. This man is clearly not a fool.

I’ll have to read up on the highlights of his testimony. I can’t stand politicians grandstanding which is usually the focus of these hearings moreso than whatever they are trying to “get to the bottom of”.

From what I've read of his prepared statement, he's got himself a pretty fancy lawyer. With those earnings from selling GME he can sure afford it, and he should invest in a strong legal team out of an abundance of caution.

DIAMOND HANDS ON THE EXPENSIVE LEGAL TEAM

[Zan15]

From what I've read of his prepared statement, he's got himself a pretty fancy lawyer. With those earnings from selling GME he can sure afford it, and he should invest in a strong legal team out of an abundance of caution.

DIAMOND HANDS ON THE EXPENSIVE LEGAL TEAM

Mr diamond hands bailed out of GME to the tune of 13 million....and then went dark so who knows where he actually stands now.

i was hoping congress forced him to disclose his holdings.

He said "he like the stock' it spiked then ended up down 11% on the day dropping below 40

GG paper hands

[Thereturn]

It hasnt been a great week. That correction setting in or just the usual down?

[Zan15]

It hasnt been a great week. That correction setting in or just the usual down?

well the dow is up for the week .2%
SP - 0.06%
Nas -1.14%

So its been basically a flat week.


Though I do believe there is a correction coming, it just needs its catalyst. Not sure what it will be.

[Edge-]

So wait, what all happened with the testimony today from DFV? I've been too busy between work and the mars rover landing...I heard HE SAID THE THING (I like the stock), but outside of that...were there any dank memes? Fireworks? Did he play it safe because he's filthy stinkin rich and smart enough to lawyer up with some expensive and very good lawyers?

[Zan15]

So wait, what all happened with the testimony today from DFV? I've been too busy between work and the mars rover landing...I heard HE SAID THE THING (I like the stock), but outside of that...were there any dank memes? Fireworks? Did he play it safe because he's filthy stinkin rich and smart enough to lawyer up with some expensive and very good lawyers?

Nope it was a bunch of political old people making total dicks of themselves.

Basically it was everything that was already known and above board. No surprises.

WSB spunked their load when DFV first spoke, it was douche chilly the reaction as embarrassing as their behavior since this whole thing exploded.
GME spiked then tanked to under 40 from 48. a lot of WSB monkey's jumped in when he said he would buy and lost over 10% in a quick 20 minutes.

DFV lawyered up said one or two cool things and stuck to the script to save his own ass. Won't admit he sold all his shit
Can't blame him since now they are consuming each other and there are multiple class actions suits against DFV.

[Edge-]

DFV lawyered up said one or two cool things and stuck to the script to save his own ass. Won't admit he sold all his shit
Can't blame him since now they are consuming each other and there are multiple class actions suits against DFV.

So pretty expected, then. I didn't think he was gonna be a dank memelord in front of Congress, he's smart enough to manipulate morons over at WSB he's smart enough to know to listen to a lawyer advising him. Especially an expensive lawyer.

Cool, thanks for the recap. Glad WSB was able to cream their pants BECAUSE HE SAID THE CATCHPHRASE! and glad that he didn't make a complete retard of himself in front of Congress.

Were any of the hearings remotely useful? I've been catching snippets of news and it largely seems like it was a monumental waste of time. RH wasn't totally cornered for collusion etc. etc. etc.

[Theodarzna]

I am guessing the plan and operating narrative is to paint DPV as some kinda scam or something. A lot of projection coming from Hedge funds and their hired goons in congress.

[Zan15]

Were any of the hearings remotely useful? I've been catching snippets of news and it largely seems like it was a monumental waste of time. RH wasn't totally cornered for collusion etc. etc. etc.

Nope.
Anything substancially will come from the SEC investigation and follow up tightning of regulations for the internet age (again).
they don't need congress to change the regulations and clarify the scope of what can and can't be done on things like Reddit.

RH type structures with clearinghouses might require congress though but that investigation will all come from SEC with recommendations to congress.

This was all a pony show for future votes

[Zan15]

-Snip-

lol replacing fiat currency with...... a fiat currency.
do you even know what that word means?

tell me what is crypto backed by?

At least the dollar is backed by 3-4 trillion dollars in taxes collected each year and an entity that has hundred's of trillions in assets and GDP.

[Fluttershy]

2021 or 2022 will be the biggest crash yet, and they cant just print money out of it either unless we wanna do the zimbabwe. I already withdrew all my profited and bought gold/silver and mining/commodity funds. Id buy property too but I dont have the funds to buy it straight up, and its kinda risky to get a mortgage with our current situation should anything happen to my employment/company/

[hellhamster]

-Snip-

lol replacing fiat currency with...... a fiat currency.
do you even know what that word means?

tell me what is crypto backed by?

At least the dollar is backed by 3-4 trillion dollars in taxes collected each year and an entity that has hundred's of trillions in assets and GDP.

Stop pretending you even have a single idea of crypto and blockchain technology.

I got out of stocks completely just to be safe, invested more in the crypto bullrun. Already up by like 400%. And it's STILL severely undervalued with a 2 trillion dollar market cap when gold is valued at what, 19 trillion?

You can't even call this thing a competition.

Everyone is waiting for the FOMO. It’s not going to be like 2016. The big boys have come to play. They don’t FOMO. They dominate. The positions they take will be colonial. They have long time horizons and they are not buying bitcoin with paychecks. This bullrun will cause suicides. When dumbass traders realize what they had in their hands that they sold for a measly 2-3x. Working class wholecoins will start to be few and far between. Because buying a whole coin will require you to sell your house. This next 4 years is not just “the next cycle” it’s the next phase. Where governments will have to respond. Where criminals are going to step up their game. Where publicly declaring that you have a whole bitcoin could be dangerous to you and your family. This bull run is not going to be a retail FOMO extravaganza. This bull run is the beginning of the fall of fiat. This bull run will cement Satoshi’s white paper as one of the most important documents in human history.

There will be no 80% correction. There will be no fall from $300,000 to 50k.
Grayscale is not a weak hand. Microstrategy is not a weak hand. Fidelity is not a weak hand. Tesla is not a weak hand. Blackrock is not a weak hand. The institutions that are buying bitcoin couldn’t give a shit about “when Lambo”. They get lambos for free. They control governments. People expect that hyperbitcoinization will occur with government adoption. companies that are and will buy in the next year, are the ones that have the governments in their pockets. There will be no 80% correction.

[Belize]

-snip-

This is some Grade A cringe.

I'll wait for your "I lost EvErYtHiNg" post on WSB.

[hellhamster]

This is some Grade A cringe.

I'll wait for your "I lost EvErYtHiNg" post on WSB.

"Sell BTC at $1 or you will lose everything"

"Sell BTC at $10 or you will lose everything"

"Sell BTC at $100 or you will lose everything"

"Sell BTC at $1000 or you will lose everything"

"Sell BTC at $10000 or you will lose everything"

<You are here>

"Sell BTC at $100000 or you will lose everything"

[Zan15]

Stop pretending you even have a single idea of crypto and blockchain technology.

Very simple question i asked. What is crypto backed by?

Oh here let me answer for you NOTHING.
So yah its the actual fiat currency the original poster was crying about.

Hell you can't even get to your money if your forget your "password".
Yah that's going to work out well for becoming the standard currency of the world.

Stop pretending you even have a single idea of crypto and blockchain technology.

I got out of stocks completely just to be safe, invested more in the crypto bullrun. Already up by like 400%. And it's STILL severely undervalued with a 2 trillion dollar market cap when gold is valued at what, 19 trillion?

You can't even call this thing a competition.

LOL you have stocks doing that in a day now. Yawn 400%. And those stocks doing it are just as over valued and stupid investment.

Everyone is waiting for the FOMO. It’s not going to be like 2016. The big boys have come to play. They don’t FOMO. They dominate. The positions they take will be colonial. They have long time horizons and they are not buying bitcoin with paychecks. This bullrun will cause suicides. When dumbass traders realize what they had in their hands that they sold for a measly 2-3x. Working class wholecoins will start to be few and far between. Because buying a whole coin will require you to sell your house. This next 4 years is not just “the next cycle” it’s the next phase. Where governments will have to respond. Where criminals are going to step up their game. Where publicly declaring that you have a whole bitcoin could be dangerous to you and your family. This bull run is not going to be a retail FOMO extravaganza. This bull run is the beginning of the fall of fiat. This bull run will cement Satoshi’s white paper as one of the most important documents in human history.

Big boys also shorted GME. Worked out well for a few of them.
Big boys invested in dot.com's in the 1990's, most of them don't even exist anymore.
etc
etc

But i do agree criminals will step up their game, unfortunately it will result in some major problems for crypto.

I also agree govt will respond, with regulation and taxes which will put a huge damper in the current advantages of crypto.

There will be no 80% correction. There will be no fall from $300,000 to 50k.
Grayscale is not a weak hand. Microstrategy is not a weak hand. Fidelity is not a weak hand. Tesla is not a weak hand. Blackrock is not a weak hand. The institutions that are buying bitcoin couldn’t give a shit about “when Lambo”. They get lambos for free. They control governments. People expect that hyperbitcoinization will occur with government adoption. companies that are and will buy in the next year, are the ones that have the governments in their pockets. There will be no 80% correction.

I hope not a lot of nice people will lose a lot of money. but i also hope there is no correction in the stock market either.

As for the rest of your rant, i can see it will be difficult to have an actual discussion with you because you are now into fanboi territory.

- - - Updated - - -

"Sell BTC at $1 or you will lose everything"

"Don't Sell GME at $450 or you will WILL MISS OUT, TO THE MOON!!"

"Don't Sell GME at $400 or you will WILL MISS OUT, TO THE MOON!!"

"Don't Sell GME at $300 or you will WILL MISS OUT, TO THE MOON!!"

"Don't Sell GME at $100 or you will WILL MISS OUT, TO THE MOON!!"
"Don't Sell GME at $75 or you will WILL MISS OUT, TO THE MOON!!"
"Don't Sell GME at $40 or you will WILL MISS OUT, TO THE MOON!!"

<You are here>

"Don't Sell GME at $20 or you will WILL MISS OUT, TO THE MOON!!"

Kind of reminds me of something, here I'll fix it for you.

- - - Updated - - -

2021 or 2022 will be the biggest crash yet, and they cant just print money out of it either unless we wanna do the zimbabwe. I already withdrew all my profited and bought gold/silver and mining/commodity funds. Id buy property too but I dont have the funds to buy it straight up, and its kinda risky to get a mortgage with our current situation should anything happen to my employment/company/

Yikes property is probably one of the biggest bubbles right now unless you have the ability to hold for a long time and even then....

They printed the hell out of money before and it hasn't caused the calamity you claim.

[NED funded]

Can you even mine bitcoin this days??

Like I always assumed it was like gold , we agreed it was expensive bc folks for whatever reason decided to pay that amount

[Zan15]

Can you even mine bitcoin this days??

Like I always assumed it was like gold , we agreed it was expensive bc folks for whatever reason decided to pay that amount

well at least gold has a physical asset to back it up even if its value is inflated.

[hellhamster]

It's fine my dude, some people just don't wanna get on the train and are content with the way things are. Some people are scared of new technology and are absolutely fine with losing 10-20% of their value every year due to regulated, centralized fiat currency scamming the fuck out of everyone through quantitative easing. I mean, their money is in the bank, right? Surely we are not gonna see negative interest rates? Noooo, that is not possible (hint: it's already happening). Hey, at least you aren't going through the risk of seeing a number go down, even though you are actually losing value through yearly inflation when you're doing nothing with it.

Some people are fine so they don't wanna jump on an asset that has appreciated over 200% every year for the past 10 years. Some people, like you, don't wanna understand why cryptocurrencies, through blockchain technology, are the only way forward in a global economy that is dangerously close to hyperinflation and extreme regulation.

Shiiit, I mean you must love working your ass off to get that paycheck, while at the same time Uncle Sam and Aunt EU make billions of dollars and euros out of thin air every day, just to support a debt-ridden global economy? Let alone whatever the fuck the Chinese are doing over there.

Same thing happened to the internet when it was first introduced. If you recall, it was baby steps at first, then an explosion of possibilities once people realised its true value. It's the same thing with blockchain technology. It's revolutionary and it will change the world whether you like it or not. And for that, fiat has to go, or at the very least has to completely change.

You also ask, what are cryptocurrencies backed with? It's simple really, you can trade anything with them, right now it is just commodities, and in the future once there is proper support for decentralized finance or applications, you can trade assets, health insurance, anything on any market really. Therefore, the value is backed by whatever you can trade it with. As they say in the economic world, ceteris paribus, the value of a cryptocurrency is tied to its volume and ability of peer to peer transactions and validations while you can trade whatever.

It's hard to wrap your head around it, but time will show the victor.

Watch Microstrategy's CEO talk about it.



- - - Updated - - -

Can you even mine bitcoin this days??

Like I always assumed it was like gold , we agreed it was expensive bc folks for whatever reason decided to pay that amount

It's not as lucrative as it was in the past due to the nature of bitcoin halving, with the last bit of bitcoin that is to be mined by 2031 or something. It can still be done, but it's pretty modest. Bitcoin, being a first generation blockchain/cryptocurrency, has the severe flaw of huge energy requirements, but other second/third generation coins like Ada, Chainlink, Polkadot etc are much more energy friendly in their mining/validation/delegation/staking process.

[Zan15]

You also ask, what are cryptocurrencies backed with? It's simple really, you can trade anything with them, right now it is just commodities, and in the future once there is proper support for decentralized finance or applications, you can trade assets, health insurance, anything on any market really. Therefore, the value is backed by whatever you can trade it with. As they say in the economic world, ceteris paribus, the value of a cryptocurrency is tied to its volume and ability of peer to peer transactions and validations while you can trade whatever.

So basically nothing. Its a Fiat Currency.
You understand what Fiat Currency means right?

Really odd i just went to buy gas and they did not accept bit coin....Oh i mean i could convert the bit coins into cash and then buy gas i guess....

By your logic you can do everything and more with regular accepted currency but somehow its worthless?

At one point you could trade Pets.com stock for just about anything too.

It's fine my dude, some people just don't wanna get on the train and are content with the way things are. Some people are scared of new technology and are absolutely fine with losing 10-20% of their value every year due to regulated, centralized fiat currency scamming the fuck out of everyone through quantitative easing. I mean, their money is in the bank, right? Surely we are not gonna see negative interest rates? Noooo, that is not possible (hint: it's already happening). Hey, at least you aren't going through the risk of seeing a number go down, even though you are actually losing value through yearly inflation when you're doing nothing with it.

Some people are fine so they don't wanna jump on an asset that has appreciated over 200% every year for the past 10 years. Some people, like you, don't wanna understand why cryptocurrencies, through blockchain technology, are the only way forward in a global economy that is dangerously close to hyperinflation and extreme regulation.

I didn't get in on the GME train either, but life still goes on. Sold Google way too soon. Though Amazon would lose out to Walmart in the end. etc etc etc.

Who would invest their money in a negative interest rate? You act like there is only two options. My investments have gained 6-8% historically for the last 30+ years.


Maybe you haven't been around as long as i have, for the interest fears of the 1970's and 80's, 90's. 00's. Cries of Hyperinflation and the country going bankrupt. Dollar losing its status to the Japanese yen...wait...no German Deutsche Mark....no wait....Euro.....Wait wait....Chinese something something.

Same thing happened to the internet when it was first introduced. If you recall, it was baby steps at first, then an explosion of possibilities once people realised its true value. It's the same thing with blockchain technology. It's revolutionary and it will change the world whether you like it or not. And for that, fiat has to go, or at the very least has to completely change.

So is crypto going to be pets.com, Netscape or Netflix/amazon?
Cause last time i checked way more "things" went bankrupt and disappeared then stuck around and became super hyper successful from when the "internet was first introduced". Anyone seen CompuServe?