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Old 13 January 2021, 02:50 AM   #31
Etschell
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Originally Posted by jpeezy14@hotmail.com View Post
I invest in mainly big tech and high growth stocks - and even Bitcoin is too volatile for me. Plus, I don't have the conviction necessary to say "ok, 30k for 1 coin seems worth it here".

To each their own, but for me, Bitcoin isn't it.
what about tesla though. im not trying to be difficult but the thing dropped from 502 to 329 in a few days.
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Old 13 January 2021, 02:59 AM   #32
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That’s crazy talk.
i think he is bill gates
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Old 13 January 2021, 03:02 AM   #33
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what about tesla though. im not trying to be difficult but the thing dropped from 502 to 329 in a few days.
Not at all.

Yes, TSLA is another crazy (some might call speculative) stock - but a few things keep me invested in TSLA:

1.) I will not bet against Musk
2.) My average is $315, so it has been a great ride
3.) Any dip in TSLA catches itself and the stock continues to rise
4.) TSLA actually produces a product that I can fully understand, and they are not valued as just a car company IMO
5.) Cost of entry is low, relatively speaking. If I were to invest in Bitcoin, I would do it in whole numbers (e.g. a whole Bitcoin), so partial purchases don't interest me
6.) No crazy wallets / passwords / fees to worry about, outside of taxes
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Old 13 January 2021, 03:37 AM   #34
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Originally Posted by Blansky View Post
Read that this morning. $220M.

Crazy!
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Old 13 January 2021, 04:25 AM   #35
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I don’t mind saying that I don’t invest in what I don’t understand
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Old 13 January 2021, 04:46 AM   #36
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Quote:
Originally Posted by jpeezy14@hotmail.com View Post
Not at all.

Yes, TSLA is another crazy (some might call speculative) stock - but a few things keep me invested in TSLA:

1.) I will not bet against Musk
2.) My average is $315, so it has been a great ride
3.) Any dip in TSLA catches itself and the stock continues to rise
4.) TSLA actually produces a product that I can fully understand, and they are not valued as just a car company IMO
5.) Cost of entry is low, relatively speaking. If I were to invest in Bitcoin, I would do it in whole numbers (e.g. a whole Bitcoin), so partial purchases don't interest me
6.) No crazy wallets / passwords / fees to worry about, outside of taxes
This is how I view Tesla, as a company.
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Old 13 January 2021, 04:53 AM   #37
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Old 13 January 2021, 04:59 AM   #38
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This is how I view Tesla, as a company.
Gotta be something more to this.

Because at current valuation, they’re worth more than EVERY car company in America put together. So even if tomorrow 100% of US automobile sales were Tesla (as in every other automaker cease to exist), their market cap still wouldn’t be justified.



Or it’s a massive bubble and going to wreck S&P and entire market if it pops
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Old 13 January 2021, 05:12 AM   #39
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Gotta be something more to this.

Because at current valuation, they’re worth more than EVERY car company in America put together. So even if tomorrow 100% of US automobile sales were Tesla (as in every other automaker cease to exist), their market cap still wouldn’t be justified.



Or it’s a massive bubble and going to wreck S&P and entire market if it pops
it is a tech company.

my point was people think bitcoin is super volatile but actually volatility has been on a multi year down trend. additionally just because an asset is in a bubble phase does not mean it never resumes higher. just look at the stock market or the residential housing market in the US.

every asset class has volatility; some are very low and some are much higher. however, the thesis that bitcoin is more volatile than a given stock is wrong. risk adjusted the volatility is probably about right.
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Old 13 January 2021, 05:49 AM   #40
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Originally Posted by jpeezy14@hotmail.com View Post
Not at all.

Yes, TSLA is another crazy (some might call speculative) stock - but a few things keep me invested in TSLA:

1.) I will not bet against Musk
2.) My average is $315, so it has been a great ride
3.) Any dip in TSLA catches itself and the stock continues to rise
4.) TSLA actually produces a product that I can fully understand, and they are not valued as just a car company IMO
5.) Cost of entry is low, relatively speaking. If I were to invest in Bitcoin, I would do it in whole numbers (e.g. a whole Bitcoin), so partial purchases don't interest me
6.) No crazy wallets / passwords / fees to worry about, outside of taxes
I concur.
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Old 13 January 2021, 06:02 AM   #41
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Gotta be something more to this.

Because at current valuation, they’re worth more than EVERY car company in America put together. So even if tomorrow 100% of US automobile sales were Tesla (as in every other automaker cease to exist), their market cap still wouldn’t be justified.



Or it’s a massive bubble and going to wreck S&P and entire market if it pops
Absolutely, there’s something to it. Musk “knows where the bodies are buried.”
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Old 13 January 2021, 06:03 AM   #42
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This is how I view Tesla, as a company.

So correct.
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Old 26 January 2021, 04:43 AM   #43
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How are you guys investing in BTC or crypto in general? Specific stocks? Or directly buying crypto? What platforms are you using. Im really thinking about getting into it but there is a learning curve. Also that shows one of its current problems, not hard to get into but there is bit of homework to do if you want to buy it. Its definitely not as easy as picking up Apple stock for instance for the average Joe.
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Old 26 January 2021, 05:36 AM   #44
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I don’t mind saying that I don’t invest in what I don’t understand
Count me in
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Old 26 January 2021, 05:50 AM   #45
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Originally Posted by ratlover View Post
How are you guys investing in BTC or crypto in general? Specific stocks? Or directly buying crypto? What platforms are you using. Im really thinking about getting into it but there is a learning curve. Also that shows one of its current problems, not hard to get into but there is bit of homework to do if you want to buy it. Its definitely not as easy as picking up Apple stock for instance for the average Joe.
Just purchasing outright. It's fairly easy to do on a cryptocurrency exchange. (Coinbase, Kraken, Binance) The US-based ones require the same AML/KYC info any financial website require - photo ID, social security info, etc. From there, you can buy Bitcoin, Ethereum, and many others. You can keep the Bitcoin on that exchange or transfer it to a private wallet that only you can access. Your choice.

If you don't want to invest directly in crypto you can invest in companies that are highly invested in crypto themselves, a good recent example is MicroStrategy. Additionally, Coinbase will have their IPO later this year.
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Old 26 January 2021, 06:02 AM   #46
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Make sure you keep good records when purchasing crypto through coinbase. They'll give you a 1099k instead of a consolidated tax form like other brokerages (at least in 2019).

You'll have to keep track of your lot sizes and purchase dates to calculate profit/loss and short-term or long-term gains when you do your return. It can get really annoying if you're buying/selling in uneven lots and you have alot of transactions
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Old 26 January 2021, 06:11 AM   #47
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I am in the US and have read they need all my info so they can properly report to IRS. Whats your preference in platforms? Probably only looking at 5k to start as a longer term hold in BTC and maybe move another 5k to play with on a shorter horizon once I learn a bit more. Do you hold it in a wallet or with the platform?

Again Im just looking into getting into crypto. To mention a misconception I had is the ease of use for illegal activities. I have been hearing all the talk for a few years about how this is used by “drug dealers” to move $ but I guess I don’t see how its much easier than moving cash? Im sure there are ways to do it much like cash. Hopefully the above isn’t taken as me trying learn how to purchase crypto covertly. That is not something Im asking or wish to discuss. More a observation on how buying and selling crypto is a bit different than I thought.
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Old 26 January 2021, 07:43 AM   #48
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There's another thread in the general discussion forum about which is the best mattress to buy for your back. I certainly don't have any bitcoin but I wonder which is the best mattress to put your money in.
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Old 26 January 2021, 07:50 AM   #49
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Originally Posted by ratlover View Post
I am in the US and have read they need all my info so they can properly report to IRS. Whats your preference in platforms? Probably only looking at 5k to start as a longer term hold in BTC and maybe move another 5k to play with on a shorter horizon once I learn a bit more. Do you hold it in a wallet or with the platform?

Again Im just looking into getting into crypto. To mention a misconception I had is the ease of use for illegal activities. I have been hearing all the talk for a few years about how this is used by “drug dealers” to move $ but I guess I don’t see how its much easier than moving cash? Im sure there are ways to do it much like cash. Hopefully the above isn’t taken as me trying learn how to purchase crypto covertly. That is not something Im asking or wish to discuss. More a observation on how buying and selling crypto is a bit different than I thought.
I personally use Coinbase Pro and Kraken for trading/purchasing and private wallets to hold funds. There are coins called "Privacy Coins" that are difficult for the authorities to track. Bitcoin is certainly not one of those. Every transaction on Bitcoin is public. No one knows who controls which wallet, but the government can certainly follow funds from wallet to wallet until it gets converted to fiat by someone known to them. When it was new, Bitcoin was a good way to move money covertly. It's not now, and that's a good thing for mass adoption.
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Old 26 January 2021, 07:50 AM   #50
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Originally Posted by ratlover View Post
I am in the US and have read they need all my info so they can properly report to IRS. Whats your preference in platforms? Probably only looking at 5k to start as a longer term hold in BTC and maybe move another 5k to play with on a shorter horizon once I learn a bit more. Do you hold it in a wallet or with the platform?

Again Im just looking into getting into crypto. To mention a misconception I had is the ease of use for illegal activities. I have been hearing all the talk for a few years about how this is used by “drug dealers” to move $ but I guess I don’t see how its much easier than moving cash? Im sure there are ways to do it much like cash. Hopefully the above isn’t taken as me trying learn how to purchase crypto covertly. That is not something Im asking or wish to discuss. More a observation on how buying and selling crypto is a bit different than I thought.
I think Coinbase is really easy to use. I'd just hold 5-10k through their platform instead of messing with another wallet. I'd recommend using Coinbase pro since it has lower fees and you can set limit orders ahead of time.
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Old 26 January 2021, 07:59 AM   #51
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I'm sure its something you won't regret in a hurry as long as you keep it. Instead of it just laying around i had to invest it with capitradeinvestment for better monthly returns and its been on since October 2019
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Old 26 January 2021, 08:39 AM   #52
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Good info! Thanks guys!
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Old 28 January 2021, 03:58 AM   #53
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Who's thought of what happens as we get within 50 years of 2140, the last Bitcoins mined? Yes, its a long ways away, BUT Bitcoin being a vessel to store value for hundreds of years is one of the key Bitcoiner talking points. So how will miners be incentivized to keep going and maintain records in the long run? They can't live off transaction fees unless those rise by orders of magnitude, which defeats the whole purpose...
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Old 28 January 2021, 07:55 AM   #54
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HODler here!

Sooner than later this will be the currency of the digital economy. Quote me on this.

Been telling my son to buy and get in. In a few more years it looks like its his turn to say " I should have listened to my Dad!"



It's all about health, happiness & family. The rest are just necessary inconveniences we have to deal with.
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Old 28 January 2021, 09:44 AM   #55
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I think the term “investing” should never be used in the same sentence as Bitcoin.
It’s pure speculation. Nothing wrong with speculating, but it’s not investing.
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