Guys Let's All Get Rich - Are You Ready?

[Calchas]

All investments are gambling.

That includes leaving your money in cash accounts, as by doing so you are implicitly gambling that the rate of inflation will not be very high. There is no escaping the probabilistic nature of the modern economy. Even your job and career training involves probability and comes with the risk of failure.

It may also be that you've internalized the beta-cuck psychosis and that you do not wish to improve your station in life, you would rather remain at the bottom.

When your success or failure depends on factors that you cannot control and determine,then it's pure gambling.
When your success or failure depends on your ideas and capabilities,it's called creativity.
Good luck with your fake rabbit chase.

 

[Afro_Vacancy]

When your success or failure depends on factors that you cannot control and determine,then it's pure gambling.
When your success or failure depends on your ideas and capabilities,it's called creativity.
Good luck with your fake rabbit chase.

Your success or failure *always* depends on factors that you cannot control and determine. There is no escaping the fact that all outcomes are fractionally dependent on luck.

 

[Choi Han Kyul]

Your success or failure *always* depends on factors that you cannot control and determine. There is no escaping the fact that all outcomes are fractionally dependent on luck.

You have to take your chances.
Ultimately we all regret not taking the leap of faith.
We might also regret taking the leap of faith, whether be love or career.
We are all minimizing our regrets and risks.
Such is life.

 

[Afro_Vacancy]

You have to take your chances.
Ultimately we all regret not taking the leap of faith.
We might also regret taking the leap of faith, whether be love or career.
We are all minimizing our regrets and risks.
Such is life.

My understanding is that a lot of old people regret having played it safe and not taken chances.

 

[Calchas]

You have to take your chances.
Ultimately we all regret not taking the leap of faith.
We might also regret taking the leap of faith, whether be love or career.
We are all minimizing our regrets and risks.
Such is life.

You equate love with playing in the stock market?

 

[JeanLucBB]

There's a contradiction between your prediction that cryptocurrencies will be stores of value versus the present reality that these are currently speculative investment products, and the resulting volatility.

It’s simply a matter of adoption, when you have a supply and demand paradigm as such and exponential user base growth which can be measured through exchange accounts and digital wallet numbers you will inevitably end up with huge volatility. It’s pure network effect.

Think about it in terms of the earlier days of bitcoin when only a thousand or so were using it, it had exactly the same features it has now but of course was worth exponentially less. It was exponentially less useful due to the network effect in which it had very low trust and low users at that point. Naysayers can bark at this “contradiction” all they like, the fact is an asset with store of value features which requires network value to be useful isn’t going to achieve full adoption overnight and thereby volatility is going to be an issue. You can have an asset with the features of a store of value that increases in value like a growth stock. It isn’t a contradiction in logic.

It isn’t speculation either at this point, for myself and everyone I know using crypto it does become much more pleasurable as a means of transaction and the ability to hold a digital asset which you control the keys too unlike a bank balance or stocks is simply huge. What makes a store of value are features such as security, trust and fixed cap on the asset. This does not entail that the PRICE will stay the same relative to other assets. Certainly gold hasn’t which almost everyone will suggest is a store of value so this argument is either semantics or simply a bad one.

Of course your argument does apply to some of the lower market cap shitcoins and even those in the top ten, but others a legitimate argument can be made for their long term viability as a store of value.

 

[JeanLucBB]

Your success or failure *always* depends on factors that you cannot control and determine. There is no escaping the fact that all outcomes are fractionally dependent on luck.

Everything in investing is measured probability and risk management. But some are most certainly better at managing this than others in the case of what is clearly an imperfectly priced market. It is also possible to generate higher returns in an asset which is lower risk and has a high probability of success which is the area that separates the men from the boys in investing.

I know people who won’t put money in a stock market index fund as they fear volatility and risk despite the fact that historically for 95% of years and in any 10 year holding period it will decimate a bank interest return. And yet they still just stick their money in a bank. What they assume is avoiding risk is actually just a poor analysis of the market, probabilities and risk management.

 

[Afro_Vacancy]

It’s simply a matter of adoption, when you have a supply and demand paradigm as such and exponential user base growth which can be measured through exchange accounts and digital wallet numbers you will inevitably end up with huge volatility. It’s pure network effect.

Think about it in terms of the earlier days of bitcoin when only a thousand or so were using it, it had exactly the same features it has now but of course was worth exponentially less. It was exponentially less useful due to the network effect in which it had very low trust and low users at that point. Naysayers can bark at this “contradiction” all they like, the fact is an asset with store of value features which requires network value to be useful isn’t going to achieve full adoption overnight and thereby volatility is going to be an issue. You can have an asset with the features of a store of value that increases in value like a growth stock. It isn’t a contradiction in logic.

It isn’t speculation either at this point, for myself and everyone I know using crypto it does become much more pleasurable as a means of transaction and the ability to hold a digital asset which you control the keys too unlike a bank balance or stocks is simply huge. What makes a store of value are features such as security, trust and fixed cap on the asset. This does not entail that the PRICE will stay the same relative to other assets. Certainly gold hasn’t which almost everyone will suggest is a store of value so this argument is either semantics or simply a bad one.

Of course your argument does apply to some of the lower market cap shitcoins and even those in the top ten, but others a legitimate argument can be made for their long term viability as a store of value.

I'm not trying to naysay here, just stimulating discussion for the fun of it. For the time being I am going to maintain a modest investment in crypto, though I may move the portions around.

A good option for those wanting to invest in gold are Canadian gold coins. They charge a modest premium relative to the actual cost of gold, around 3%, comparable to the fees on bitcoin exchanges
https://online.kitco.com/buy/3110/1-oz-Gold-Canadian-Maple-Leaf-Coin-9999-3110
Separately I don't think that the volatility of gold is that high. The difference between its trough and its peak in the last few years is ~30%, that's not bad. It might be less if you can put up a convincing case that it's actually the US dollar that's shifting value.

ETA: Now that I think about it, I might buy a few gold coins for the sake of diversification. Perhaps they make silver coins as well? I'm just not sure how I'd sell them.

 

[Afro_Vacancy]

Everything in investing is measured probability and risk management. But some are most certainly better at managing this than others in the case of what is clearly an imperfectly priced market. It is also possible to generate higher returns in an asset which is lower risk and has a high probability of success which is the area that separates the men from the boys in investing.

I know people who won’t put money in a stock market index fund as they fear volatility and risk despite the fact that historically for 95% of years and in any 10 year holding period it will decimate a bank interest return. And yet they still just stick their money in a bank. What they assume is avoiding risk is actually just a poor analysis of the market, probabilities and risk management.

I can only think of one scenario where cash would outperform stocks long-term, and that's if there were a massive deflationary spiral. A good example would be Japan from the late 1980s onwards, where the Nikkei 225 has still not recovered.

However, it's difficult to imagine a deflationary spiral taking place in the USA. I think that the reverse, an inflationary spiral, would be vastly more likely to happen if the sh*t were to hit the fan, given the historical pressure of accumulated quantitative easing, colloquially known as "money printing". In that context, cash investments would be liquidated.

A purported non-gambler would do best to look at expected values and government policies. Within the USA, these are aimed at propping up the real estate, and separately, the market capitalization of the largest companies. Given equilibrium conditions these will remain the best conventional investments. Real estate might be better than the stock market (I'm not sure), but it has greater barriers to entry.

Leaving substantial money in cash is waste, unless you're expecting deflation.

 

[JeanLucBB]

Low volume but still amusing

 

[JeanLucBB]

Steven Mnuchin looking to tax Bitcoin.

http://www.businessinsider.com/one-...r-into-the-heart-of-every-bitcoin-bull-2018-1

Just flicking through this report and can't believe fucktards actually got paid to produce this dogshite.

https://www.quinlanandassociates.co...uinlan-Associates-Fools-Gold-Sample-Pages.pdf

"It is evident from the name that cryptocurrencies were created to be used as currencies, instead of investment assets"

So if I put a creamed corn sticker on a can of baked beans it suddenly becomes creamed corn? Childish understanding of logic. This is the most ridiculous assertion in the entire paper because the whole report ends up revolving around this notion that cryptocurrencies HAVE to be SOLELY viewed as currencies to have value. Derived this solely out of the name. Absolutely laughable.

"Cryptocurrency does generally better satisfy the three requirements of money: (1) unit of account, (2) medium of exchange, and (3) store of value, than known currencies, such as gold and fiat currency (see Figure 27). However, in the current environment, cryptocurrencies lack certain key characteristics or features, which makes them less desirable than fiat currencies."

Doesn't bother to explain this statement.

"IS BITCOIN A BUBBLE?

There is a remarkable correlation between the price of BTC and the amount of Google searches for “Bitcoin".

The introduction of Bitcoin Futures by CBOE, CME, and potentially Nasdaq in Q2 2018, contributed to the recognisability of BTC, and attracted even more institutional money flow”"

How can one be stupid enough to genuinely believe these comments logically relate to bitcoin being a bubble? I'm sure as A2 Milk baby formula sales skyrocketed 2000% in a few years Google searches went up comparatively as well, is their baby formula in a bubble?

"VALUING BTC

"We believe BTC current price of ~USD 14,000 deviates significantly from its true value, USD 2,161 (based on our cost of production valuation), USD 687 (from our store of value method), and USD 1,780 (as a currency)."

Doesn't even bother to quantify this with numbers and a cost of production valuation is completely irrelevant. No mention of intrinsic utility or comparative analysis of features to separate asset classes.

"It is therefore not unreasonable to believe that during Q1 to Q3 2017, BTC’s value stemmed more from its potential future utility, while in the last quarter of 2017, the price of BTC was largely a function of outright speculation. All of this suggests that Bitcoin, in its current form, is a bubble waiting to burst."

Again doesn't bother to quantify this. Just angry terms and baseless attacks.


Makes me f*****g sick these f*****g cocksuckers have jobs. Low IQ swine with research skills lower than primary school children and and this paper is an assault on logical arguments. f*****g disgusting.

 

[Rudiger]

I just decided to stick with Bitcoin, put more in to it when it got low yesterday, and that already looks good.

I'll just keep it there because I have no time to really research and invest in other potential shitcoins.

 

[Choi Han Kyul]

You equate love with playing in the stock market?

On a broader perspective anything that simply has to do with risk and regrets.

 

[JeanLucBB]

I'm not trying to naysay here, just stimulating discussion for the fun of it. For the time being I am going to maintain a modest investment in crypto, though I may move the portions around.

A good option for those wanting to invest in gold are Canadian gold coins. They charge a modest premium relative to the actual cost of gold, around 3%, comparable to the fees on bitcoin exchanges
https://online.kitco.com/buy/3110/1-oz-Gold-Canadian-Maple-Leaf-Coin-9999-3110
Separately I don't think that the volatility of gold is that high. The difference between its trough and its peak in the last few years is ~30%, that's not bad. It might be less if you can put up a convincing case that it's actually the US dollar that's shifting value.

ETA: Now that I think about it, I might buy a few gold coins for the sake of diversification. Perhaps they make silver coins as well? I'm just not sure how I'd sell them.

Main problem with those I see and with gold Bullion at least where I live is the spread of buy and sell prices is monstrous. Better off putting the money towards jewellery with tangible utility like a Rolex that holds its value well long term (if you discount the premium of buying one brand new). Anyone paying attention to crypto should stay well clear of gold too in my opinion, but if you want precious metals or gold exposure for diversification purposes the best way to get it is with a simple ETF, unless you're really into the idea of holding gold or silver yourself. A lot of people bring up counterparty risk with gold ETFs but you still have to deal with fucked up buy/sell spreads, insurance, theft risk, storage, purity tests etc if you're opting for physical gold and silver which makes it only appealing to enthusiasts, not investors in my opinion.

With a more business friendly agenda in the US for the short term it's a massive contrarian bet too. Unless you're talking more than 300-400k in total investments gold is a bad idea even for diversification purposes.

 

[blackg]

HAIR coin, a coin designed to be used at hair treatment centers - 30% of the value of the coin is held in reserve and can only be claimed by the party/individual who brings to market a commercial cure for baldness (not treatment, a full on cure); coins would then be used by members to pay for the cure at clinics worldwide.

boom, that's why i'm the smartest guy on this forum
#modestyismymiddlename

No, "frustrated" is your middle name.

 

[JeanLucBB]

No, "frustrated" is your middle name.

Cuckg

 

[blackg]

Cuckg

Did you quote my post last night and ask me why I have "blackg" as a username?
I was at a family gathering and was drinking. I went to the pisser and saw an alert, then I read this stupid post from your b-grade ***.

You know better than to ask that question.
Lift your game.

 

[JeanLucBB]

Did you quote my post last night and ask me why I have "blackg" as a username?
I was at a family gathering and was drinking. I went to the pisser and saw an alert, then I read this stupid post from your b-grade ***.

You know better than to ask that question.
Lift your game.

TY for ignoring your family to read my message cuckg.

 

[blackg]

TY for ignoring your family to read my message cuckg.

Hahaha... That's okay. I needed to get away from all the boring career talk and the staring at my forehead when engaged in a conversation.

Your message also made me urinate easier.

 

[Rudiger]

I mainly visit this section now to see if there's any interesting crypto news, can cuckg f*** off away from this thread as he has nothing valuable to add.

That being said with this rule, he'd have to f*** off from every thread, ever.

Fine by me.