Cryptocurrency

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I invested a small amount 5 years ago during the covid crash.
I'm still holding just because I don't want to deal with the tax paperwork of selling, but after studying it more, I find myself aligning with one of the the co-founders of Dogecoin:
After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.

Despite claims of “decentralization”, the cryptocurrency industry is controlled by a powerful cartel of wealthy figures who, with time, have evolved to incorporate many of the same institutions tied to the existing centralized financial system they supposedly set out to replace.

The cryptocurrency industry leverages a network of shady business connections, bought influencers and pay-for-play media outlets to perpetuate a cult-like “get rich quick” funnel designed to extract new money from the financially desperate and naive.

Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable.

Cryptocurrency is like taking the worst parts of today’s capitalist system (e.g. corruption, fraud, inequality) and using software to technically limit the use of interventions (e.g. audits, regulation, taxation) which serve as protections or safety nets for the average person.

Lose your savings account password? Your fault. Fall victim to a scam? Your fault. Billionaires manipulating markets? They’re geniuses. This is the type of dangerous “free for all” capitalism cryptocurrency was unfortunately architected to facilitate since its inception.

But these days even the most modest critique of cryptocurrency will draw smears from the powerful figures in control of the industry and the ire of retail investors who they’ve sold the false promise of one day being a fellow billionaire. Good-faith debate is near impossible.

For these reasons, I simply no longer go out of my way to engage in public discussion regarding cryptocurrency. It doesn’t align with my politics or belief system, and I don’t have the energy to try and discuss that with those unwilling to engage in a grounded conversation.

I applaud those with the energy to continue asking the hard questions and applying the lens of rigorous skepticism all technology should be subject to. New technology can make the world a better place, but not when decoupled from its inherent politics or societal consequences.
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I'm just waiting for the other shoe to drop once it's discovered there's absolutely nothing backing tether.
 
I’ll be buying heavy but not tomorrow. I think we’re down for a few weeks.
 
Don’t worry. The plan to gut the federal government should help a lot.
 
1738550211570.png

Ah yes, cutting "unnecessary" positions until your IRS call is answered by a single overworked intern named Karen.
 
MortonExtension said:
I’ll be buying heavy but not tomorrow. I think we’re down for a few weeks.
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Simply nibble all the way down whenever there is a dip (Obama crash, COVID, Ukraine war, right now, etc)... buy and DCA all the way down.
The biggest rallys come in the crashes. You don't know when that'll be. Until the rally, shares are on sale.

MortonExtension said:
Crypto tanking

Stocks tanking

Thanks Trump
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Hybrocure said:
Country tanking
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Country won't tank...
If you wouldn't bet -and continue to bet - on the guys who can literally print money (world reserve is USD) and the same guys being the guys with the most guns, then you don't get how things work. It'll be fine. If USA ever lost the world reserve currency or didn't have (by far) the most powerful military, then there could be other better investment markets. For now, nope... there is not. S&P and Nasdaq is where it's at.

(not recommending buying crypto... talking index/stocks)

Utvolsdpm said:
Don’t worry. The plan to gut the federal government should help a lot.
Click to expand...
It will.
Not in the short term... but yes, it will. (ditto for tarriffs)
 
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MortonExtension said:
Market bounced back well this morning. Good sign
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It's called manipulation.

Crypto traders got liquidated for 2 billion last night. The most in history for crypto. Worse than COVID crash and FTX crash. Guess who was buying? Blackrock, fidelity and other institutions...Trump, etc.

The big boys just shook out retail again to get their bags before they pump this to valhalla.
 
Retrograde_Nail said:
Don't worry on stocks you missed. Just DCA into solid stocks, reinvest the dividends and grow the money over years
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Yep. There are always dozens of hot stocks you missed... because there are 100+ good buys at any given time.

...Indexing is usually the way to go as a pretty small % of stocks are the BIG gainers and you don't want to miss those. The Boglehead/WCI hits on this well. The market overall gains in any given year hinge heavily on a relatively small handful of stocks, so it's a risk to not just buy the 500 or nasdaq or total market.

But yeah... if you pick singles (we almost all do, to some degree), you will have hits and misses. If you're ever unsure or have money from a sell, no harm to just wait for other attractive buys. There are always many in up/down market alike (actually more good buys in a down market).
 
Since this is the de facto finance thread. What stocks do you guys currently like? I missed the bus on HIMS and palantir. I’m maxing out my 401k in VOO essentially but like investing on the side.

Small caps and big tech is what I’m in outside of my retirement accounts.

Since the election I’m up about 40%. Crazy bull market it feels. And to stay on topic with crypto…. I just don’t see how Bitcoin is worth it at this point. To 10x it needs to be a million.

Just not seeing the vision. You’re better off investing in stocks
 
MortonExtension said:
Since this is the de facto finance thread. What stocks do you guys currently like? I missed the bus on HIMS and palantir. I’m maxing out my 401k in VOO essentially but like investing on the side.

Small caps and big tech is what I’m in outside of my retirement accounts.

Since the election I’m up about 40%. Crazy bull market it feels. And to stay on topic with crypto…. I just don’t see how Bitcoin is worth it at this point. To 10x it needs to be a million.

Just not seeing the vision. You’re better off investing in stocks
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I don’t trust any company named from the orbs of evil from Lord of the Rings. Palantir can kick rocks
 
heybrother said:
Isn't HIMS entire business model based around semaglutide being on shortage and therefore being available for compounding?

www.fda.gov

CDER Update

FDA clarifies policies for compounders as national GLP-1 supply begins to stabilize
www.fda.gov www.fda.gov
Click to expand...
Boner pills
 
heybrother said:
Meanwhile, Hers is anti-depressants and anxiety medication.
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Yeah but that’s a lot easier to get at a doctor than being 25 and trying to convince your PCP you want a pill to impress on a first date
 
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MortonExtension said:
Since this is the de facto finance thread. What stocks do you guys currently like? I missed the bus on HIMS and palantir. I’m maxing out my [emoji[emoji[emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6]]]][emoji[emoji[emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6]]]][emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6][emoji6]]]][emoji[emoji6][emoji6]][emoji[emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6]]]]][emoji[emoji[emoji6]][emoji[emoji6]]][emoji[emoji[emoji6]][emoji[emoji6][emoji6]]]k in VOO essentially but like investing on the side.

Small caps and big tech is what I’m in outside of my retirement accounts.

Since the election I’m up about [emoji[emoji[emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6]]]][emoji[emoji[emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6]]]][emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6][emoji6]]]][emoji[emoji6][emoji6]][emoji[emoji[emoji6][emoji6]][emoji[emoji[emoji6]][emoji[emoji6]]]]][emoji[emoji[emoji6]][emoji[emoji6]]]%. Crazy bull market it feels. And to stay on topic with crypto…. I just don’t see how Bitcoin is worth it at this point. To [emoji[emoji[emoji6]][emoji[emoji6][emoji6]]][emoji[emoji[emoji6]][emoji[emoji6]]]x it needs to be a million.

Just not seeing the vision. You’re better off investing in stocks
Click to expand...

Bitcoin will continue to have value as a hedge against inflation. When DOGE raids Ft. Knox and finds our gold reserves are not as much as originally thought I guarantee the gold price will crash. People will move their money into bitcoin.

Listen. Why would Blackrock, fidelity, microstrategy etc buy so much bitcoin if it was not going to one million per token?

Why are all the USA states creating strategic Bitcoin reserves?

Follow watcher guru on telegram and you will see in real time how many entities are buying Bitcoin and the Bitcoin ETF

t.me

Watcher Guru

Watcher Guru gives you unparalleled, unbiased coverage of crypto & finance in real-time. 💬 @WatcherGuruChat
t.me t.me

Legislation still has not come out with any regulation on crypto. Right now they are scooping up as much as possible

It’s coming…

As for stocks you can certainly try and track the next big thing but that’s only if you are going to stare at your computer and swing trade.

For me I like the idea of DCAing and just investing in blue chips you know are going to continue to dominate. Doing that over years builds generational wealth

Everyone looks for the quick buck and majority get burned because they greedy or don’t have the discipline to take profits no matter what.
 
heybrother said:
Isn't HIMS entire business model based around semaglutide being on shortage and therefore being available for compounding?

www.fda.gov

CDER Update

FDA clarifies policies for compounders as national GLP-1 supply begins to stabilize
www.fda.gov www.fda.gov
Click to expand...
Yep... totally screwed.
The party's over soon for HIMS, WW, all those pharmacies selling fake compound Wegovy.

I have a ton of NVO, so I keep up on it... they've already bought and are building many USA and worldwide factories.
Novo is penalized a bit since it's a foreign company (FDA would never let a Lilly or Pfizer or Merck USA owned drug be slighted like this).
Regardless, that cash cow will be dead pretty soon where random pharmas can counterfeit Wegovy/Ozempic. Novo will catch up on supply.
The patent on semaglutide is good until 2032... and Novo will have something good oral or better inject by then anyways (they already do, in trials).
They are the leader by miles and miles non DM/obesity stuff. Good stock, pays good divi now too. Americans can't stop eating.

...to answer question above, just pay your student loans if over 5%. Not fun, but highly effective. That and Roth is all you do.
For stocks in Roth, buy index 500 (SPY, VOO, IVV, etc). It's not sexy, but it guarantees you'll have all the big gainers. Picking stocks is ok when you hit, but it's disasterous when you miss. You'd be surprised how small a % of the stocks are the big gainers carrying the market ever year. Read WCI on this; he's right. Since you can't really afford to miss those, you need to index (for most of your portfolio... try picking with 10% or whatever if you want). But yeah, pay your loans.
 
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Hybrocure said:
I don’t trust any company named from the orbs of evil from Lord of the Rings. Palantir can kick rocks
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Ok, but what about the products? Don't you want to invest in surveillance AI that can help more efficiently slaughter brown children?
 
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Retrograde_Nail said:
When DOGE raids Ft. Knox and finds our gold reserves are not as much as originally thought I guarantee the gold price will crash.
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The delusion is strong with this one. Try switching the doctors lounge TV off of Fox News every once in a while.
Retrograde_Nail said:
Listen. Why would Blackrock, fidelity, microstrategy etc buy so much bitcoin if it was not going to one million per token?
Click to expand...
Because they have an administration that will not punish them for ripping off millions of Americans as the current administration is dismantling every consumer and financial protection agency there is. Mortgage lenders also pumped ARMs before the financial crash because they knew they'd get bailed out when it all went to hell. Now consumers know better and rarely take on ARMs. I know we're not real doctors here, but it doesn't take a genius to figure the crypto scam out.

Btw, the Cardano you were pumping 3 years ago is still flat compared to 3 years ago.
 
Boba Foot said:
The delusion is strong with this one. Try switching the doctors lounge TV off of Fox News every once in a while.

Because they have an administration that will not punish them for ripping off millions of Americans as the current administration is dismantling every consumer and financial protection agency there is. Mortgage lenders also pumped ARMs before the financial crash because they knew they'd get bailed out when it all went to hell. Now consumers know better and rarely take on ARMs. I know we're not real doctors here, but it doesn't take a genius to figure the crypto scam out.

Btw, the Cardano you were pumping 3 years ago is still flat compared to 3 years ago.
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When the market goes sideways everyone likes to come out and talk.

If you follow this thread from the beginning when BTC was under 30K if you threw any money into the crypto markets you would have made some significant money.

Market is sideways does not mean crypto or blockchain technology altogether is a scam. The altcoin cycle has not even begun. Unfortunately you have zero perspective because you choose to just blindly hate on the entire sector.

BTC will still go to 250K and Cardano will still go to $6-7
 
Brutal earnings for NuBank which is like 0.05% of my portfolio. Still up 12% on it but it dropped 18% on earnings.

Meta has been a big winner for me. Up 333% since I invested 2 years ago. Out of all big tech I like Google and Amazon the most. Staying away from Apple and more meta because it has ran too much. Microsoft always a steady winner.

Never invested in tesla, but thinking about some.

Still avoiding crypto because of risk vs reward at this point.
 
MortonExtension said:
Brutal earnings for NuBank which is like 0.05% of my portfolio. Still up 12% on it but it dropped 18% on earnings.

Meta has been a big winner for me. Up 333% since I invested 2 years ago. Out of all big tech I like Google and Amazon the most. Staying away from Apple and more meta because it has ran too much. Microsoft always a steady winner.

Never invested in tesla, but thinking about some.

Still avoiding crypto because of risk vs reward at this point.
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DCA into stocks you have conviction in. Over the course of 10-20 years. Need to zoom out.
 
Hybrocure said:
Boner pills
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That ED stuff is all generic now... has been for awhile now.
HIMS is, and has been, mainly banking on just doing the tele-visits to give the Rx for generics/brands to anyone who reasonably wants it.
(as if ppl can't just buy meds - human or pet - from India/Canada/Paki/etc websites without Rx).

The weight-loss drugs copying was what they (HIMS/HERS, WWatchers, many others) were all banking on. There is a sizable markup on those, obviously... but that party was officially ended literally days after the posts we made above. The compound/generic makers can continue until sometime in April, but then the semaglutide (WeGovy) patent is good until 2032 barring another shortage.

www.novonordisk-us.com

Supply update

Supply update
www.novonordisk-us.com www.novonordisk-us.com
 
All the rug pulls are hurting crypto.
"Seasoned crypto buyers" know not to buy the scam coins but its negative press is not helping to recruit new buyers.
Bitcoin and main players will be fine
But "alt season" I think will forever be less strong.
Nobody knows though. Its gambling.


Im a boring investor. I stick to index funds over moonshots.
Since 2014 (minus the 2020 quick crash) I have made about 18% yearly in my retirement and vanguard admiral index fund.
I didnt moon like bitcoin. But I would be unfomfortable having that much in an unproven, volatile, longterm investment.
Could mine crash tomorrow? Sure. But its consistently gone up year after year after year even after a correction.


The only real crypto that holds the same growth that I see is bitcoin. The others go up and down.
If I were to invest heavily in crypto it would be bitcoin and nothing else.


MicroPod said:
Total conviction in dogecoin, to the moon baby! lol
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Never understood how dogecoin is still a thing. 10,000 new coins every minute. I get thousands if not millions of people are buying it. But according to google there is 1440 minutes in a day. Thats 1.44 million coins a day minted. 5.256 billion a year. This one is less and less likely to moon with time and its been a player for awhile now.
 
DYK343 said:
...Im a boring investor. I stick to index funds over moonshots.
...
Could mine crash tomorrow? Sure. ...
Click to expand...
Could it, though?

Could it really?

USA controls the world reserve currency. We print the money. We have the guns.
We were limited (slowed) by gold standard awhile after we got world reserve after WW2, but that limit ended long ago... and the world did nothing. We print when/how we want. Until that ends, we can literally bail out any company (endless examples), print our way out of any mess (2008 obama crash, COVID, etc), control who wins wars (ukraine, gulf, korea).

I don't really see a better place to park money than US index funds. If they dip, they won't stay crashed. They haven't (since great depression 1929... pre-USD world reserve currency 1944). If other nation(s) stopped taking or devalued USD, that's a war they are essentially starting.

The same would be true for if anther country (China?) someday got the world reserve currency... then that market index obviously becomes the place to invest. USA has seen that movie a few times and knows what it takes to lose world reserve currency (reckless spend on war/nonsense and totally deplete resources... as UK, France, Spain, others all did), and we'd be fools to do that stuff anytime soon.

Index funds of whatever nation controls the money are the truth... unless you're predicting an actual change of world reserve currency. I'm sure not. It's not necessarily that other investments (single stocks, foreign stocks, bonds, gold/silver, crypto, whatever) are bad investments... they're just unnecessary in order to win the game imo. Now that index funds have virtually no fees, it's a no-brainer. But people do what they like.

(and sure, there are definitely some more speculative things to invest in... more risk/upside/downside... fine for a small % of portfolio)
 
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Feli said:
Could it, though?

Could it really?

USA controls the world reserve currency. We print the money. We have the guns.
We were limited (slowed) by gold standard awhile after we got world reserve after WW2, but that limit ended long ago... and the world did nothing. We print when/how we want. Until that ends, we can literally bail out any company (endless examples), print our way out of any mess (2008 obama crash, COVID, etc), control who wins wars (ukraine, gulf, korea).

I don't really see a better place to park money than US index funds. If they dip, they won't stay crashed. They haven't (since great depression 1929... pre-USD world reserve currency 1944). If other nation(s) stopped taking or devalued USD, that's a war they are essentially starting.

The same would be true for if anther country (China?) someday got the world reserve currency... then that market index obviously becomes the place to invest. USA has seen that movie a few times and knows what it takes to lose world reserve currency (reckless spend on war/nonsense and totally deplete resources... as UK, France, Spain, others all did), and we'd be fools to do that stuff anytime soon.

Index funds of whatever nation controls the money are the truth... unless you're predicting an actual change of world reserve currency. I'm sure not.

(and sure, there are definitely some more speculative things to invest in... more risk/upside/downside... fine for a small % of portfolio)
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It will "crash" again. Just buy more during those times.
 
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DYK343 said:
All the rug pulls are hurting crypto.
"Seasoned crypto buyers" know not to buy the scam coins but its negative press is not helping to recruit new buyers.
Bitcoin and main players will be fine
But "alt season" I think will forever be less strong.
Nobody knows though. Its gambling.


Im a boring investor. I stick to index funds over moonshots.
Since 2014 (minus the 2020 quick crash) I have made about 18% yearly in my retirement and vanguard admiral index fund.
I didnt moon like bitcoin. But I would be unfomfortable having that much in an unproven, volatile, longterm investment.
Could mine crash tomorrow? Sure. But its consistently gone up year after year after year even after a correction.


The only real crypto that holds the same growth that I see is bitcoin. The others go up and down.
If I were to invest heavily in crypto it would be bitcoin and nothing else.



Never understood how dogecoin is still a thing. 10,000 new coins every minute. I get thousands if not millions of people are buying it. But according to google there is 1440 minutes in a day. Thats 1.44 million coins a day minted. 5.256 billion a year. This one is less and less likely to moon with time and its been a player for awhile now.
Click to expand...
Doesn’t help much when our president does a rug pull
 
DYK343 said:
All the rug pulls are hurting crypto.
"Seasoned crypto buyers" know not to buy the scam coins but its negative press is not helping to recruit new buyers.
Bitcoin and main players will be fine
But "alt season" I think will forever be less strong.
Nobody knows though. Its gambling.


Im a boring investor. I stick to index funds over moonshots.
Since 2014 (minus the 2020 quick crash) I have made about 18% yearly in my retirement and vanguard admiral index fund.
I didnt moon like bitcoin. But I would be unfomfortable having that much in an unproven, volatile, longterm investment.
Could mine crash tomorrow? Sure. But its consistently gone up year after year after year even after a correction.


The only real crypto that holds the same growth that I see is bitcoin. The others go up and down.
If I were to invest heavily in crypto it would be bitcoin and nothing else.



Never understood how dogecoin is still a thing. 10,000 new coins every minute. I get thousands if not millions of people are buying it. But according to google there is 1440 minutes in a day. Thats 1.44 million coins a day minted. 5.256 billion a year. This one is less and less likely to moon with time and its been a player for awhile now.
Click to expand...
Good analysis...

I agree. The memecoins and scams have been liquidity extraction events mostly. Retail is not here yet. I honestly don't think they will come back until there is CLEAR regulation on crypto which is coming quickly as Trump has made it a priority. Once clear regulation occurs then some of these big entities can start demonstrating its actual utility. Then BTC will start to pump to 250K and then retail will FOMO in.

I'm just waiting for any kind of alt season to cash out. Pay taxes. Hopefully pay off my house and then DCA into BTC long term during the next bear market. BTC is here to stay in my opinion.

I do personally believe a handful of alt coins will also be the first movers who will eventually gain control of the entire blockchain industry. The American made cryptos come to mind like XRP, ADA, HBAR, etc. It will not only be BTC. Some of these altcoins will be the next Amazon, Google, etc.
 
DYK343 said:
It will "crash" again. Just buy more during those times.
Click to expand...
Yeah, I agree... but COVID and Ukraine and etc are more like large dips... measured in months.
Those are buying opportunities for sure. I remember getting GOOG shares for just over $1k each (before 20-to-1 split) for a week or two in Covid dip. That was amazing. It shot right back up to $2.2k or 2.5k per share or so by the end of the year, split year after that, up and up since.

I almost wonder if we can still have truly terrible crashes and prolonged bear markets anymore when we have USD as world reserve and we're off gold standard, though. Those things definitely happened before that (1929 great depression, 1966 post war). Now, after being off gold standard since 1970s, we can print our way outta basically anything. We've definitely had dips (dot com, 2008, etc... but not any true years and years very bad economy/market times like before we held the turbo $$$ print press).

2007-08 was a real crash. That was around when I started doing a Roth (should've ten years earlier!).
Those are fairly scary (esp if you are about to - or just did - retire). I'd imagine they're terrible if you just took on big debt also (mortgage, biz loan etc).
They really shouldn't be scary if you have job/income/assets, though... you're buying into the economy/country that can literally print their way out. 🤓

Music Video Money GIF
 
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Yeah a felon with a whole administration full of crypto nerds is going to pump it. What’s interesting but not surprising are the reports of huge insider buying before that announcement. And nothing will ever be done to punish them.
 
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Yes, buy the thing that the unsuccessful businessman who crashes and destroys everything he touches is pumping. That should be the biggest "sell it if you got it" sign yet. Or you could double down on bankruptcy by buying his and his wife's ****coin.
 
Boba Foot said:
Yes, buy the thing that the unsuccessful businessman who crashes and destroys everything he touches is pumping. That should be the biggest "sell it if you got it" sign yet. Or you could double down on bankruptcy by buying his and his wife's ****coin.
Click to expand...
lol lib. But I agree. Biggest sell sign flashing is Trump pumping it
 
Can’t lose if you don’t make enough to invest
 
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