Elon Musk

[strife]

meh.  I just can't do it..  I thought about buying just CRO and letting it sit and I have an eye on a couple others but it still seems like monopoly money to me.

Ditto, I've looked at buying a few(nothing big, but like $100 worth just to play), but none of them are investments that I look at and would ever actually invest in.  When your 1 year trend is $.24 up until June and you jumped 300%, then dropped 200% and have sat steady at like $.50 for 3-4 months, that's not investible... that's gambling.  I don't gamble for $, I gamble for fun and at low dollars.  

If you want to throw a few grand and watch until it peaks and sell, then maybe it's worth your time... but playing in small dollars isn't worth the time.

[Crice]

After I buy it usually goes down more. When I sell then it goes up. DOH!

I don't understand why the dip is so drastic. CRO for example is 70.9% buys and only 29.1% sells. Maybe the 29.1% are the ones getting rich and the dummies like me are in the 70.9% group.

[TinStar]

I honestly feel that crypto is something that you either catch a gold mine early and buy a couple thousand worth of something and it jumps 4000% and you make a good haul and sell, or you dump $200k into something that you are fairly certain isn't going to die (like CRO I'm pretty confident it will go back up and will probably be a decent long term, but I don't think it will crash just because of all the money they are investing) and then play small ball with it. Buy it when it's on the low side, and then sell it once you make some money and then just play that game.

I still feel pretty damn ignorant though.

[strife]

After I buy it usually goes down more. When I sell then it goes up. DOH!

I don't understand why the dip is so drastic. CRO for example is 70.9% buys and only 29.1% sells. Maybe the 29.1% are the ones getting rich and the dummies like me are in the 70.9% group.

This is exactly why I don't like that type of investing... literally everything I'm seriously investing in, I've owned for over a year... some I've owned for close to 20 years.  All of my current serious investments are on auto buy every month(some twice a month).  I don't care what the price is when I buy, I just buy and hold.  If it goes up I buy, if it goes down I buy.  No plans to sell for another 20 years...  granted, I'm investing for retirement, not to live. 

If you're trying to get rich by timing the market, you better be damn good at it!

[strife]

I honestly feel that crypto is something that you either catch a gold mine early and buy a couple thousand worth of something and it jumps 4000% and you make a good haul and sell, or you dump $200k into something that you are fairly certain isn't going to die (like CRO I'm pretty confident it will go back up and will probably be a decent long term, but I don't think it will crash just because of all the money they are investing) and then play small ball with it. Buy it when it's on the low side, and then sell it once you make some money and then just play that game.

I still feel pretty damn ignorant though.

Yep, this is why I'm (when it comes to crypto), a penny stock investor.  $10 goes a long way if you buy stock at .0001 and it goes up to $1.

I'm playing crypto like the guy that supposedly traded a paper clip for a house... keep trading up.  If one of my stocks makes $20, I'll sell it and hold the $ and see if it goes down and try to rebuy low.

[Dharus]

I was wondering though with these dips if it'll scare off crypto mining and various crypto farms which might have larger overhead (because of video card chaining etc) and allow for individual gamers to once again have a chance at free money.  I'm guessing not and from what I've read that you really do need a high tier video card now otherwise you barely make much.

[Zouji]

You need all of that AND cheap electricity for running the server farms and for air conditioning costs. Those computers generate A LOT of heat. In the Winter they can probably get around the AC costs.

[TinStar]

So you people who have real money in crypto are y'all just chillin or are y'all freaking out? I lost 25% of my $$ in crypto within the last week but seeing as I have nothing in crypto I don't care...

[Crice]

I am down but I am not worried. I believe in the two companies I have most of my money in. I got into this for the long term. I consolidated all my gambles into CRO and MANA a week ago.

[strife]

little bit of a rebound today...

[Skelas]

I'm not huge into BTC but I do have some cash in there, and the thing you have to realize is that this so called dip was just a year ago the all time high.  It's hovering at 42k off from the ATH of 68K  That's a huge gain in one year.  It's a volatile market, and it's not for the faint of heart, but it's not a loss unless you sell. The smart players just ride this shit out. I'm still up almost 90% and i'm not even factoring in my staking returns, but i've been in for a couple years.  DCA and forget is the name of the game. I'm only discussing BTC because where BTC goes the market goes usually, although ETH might change the market if it can get their gas fees figured out. Your mileage may vary.

[strife]

You don't lose until you sell, or the stock fails and goes to 0. Long term investing may work for you if you choose right, but none of these have the track record to deserve it, so even if you do well long term investing, it's more luck than anything. A lot of these have went up... but why? Honestly looks like COVID. What happens when things go back to normal... do these all fall again? Who knows. Elon Musk could tomorrow say that he doesn't see a future in Bitcoin and he could literally tank the market... because one dude. He could also post a doge meme and make quite a few people rich.

I don't think everyone who invests in Crypto is stupid(I do think a lot of them are), but it's just really risky... you better know your shit if you're going to do it and I hope that most that are doing it, aren't putting their future into it.

[Crice]

You nailed it. You don't lose until you sell. So hold.

[strife]

You nailed it. You don't lose until you sell. So hold.

Kind of...  

I always try to look at my investments as... If I had the $ that the investment is worth and not the investment... would I buy that investment right now. If I wouldn't, then you should sell it and move on.  

The ideology that you don't lose until you sell is for people who don't want to take the ego hit that they lost money.  If you put $100 into a stock, it loses $20 value for 6 months and then goes back up to $100... did you lose money?  Yes you did... you lost 6 months of potential growth somewhere else. 

If you put $100 into a stock and it goes down to $80 and there is another stock that you think will outperform it in the future... you should sell that stock and buy the other... regardless whether you "lost money" or not.    Sitting and holding a stock that you think will be outperformed by other stocks just because you don't want to "lose money" is silly.  Your money should be in whatever you think has the best opportunity to grow(with risk considered) regardless of what you bought into it for originally.

[Slamz]

Also, holding has risks if the thing you are holding loses all value. This is unlikely if your stock is, say, Amazon. But your Sears stock that was worth $144/share in 2007 is now worth $0.018 per share today and I don't think it's coming back.

[strife]

Also, holding has risks if the thing you are holding loses all value. This is unlikely if your stock is, say, Amazon. But your Sears stock that was worth $144/share in 2007 is now worth $0.018 per share today and I don't think it's coming back.

That's why I say that you should always evaluate your stock based on where it's at right now and whether you would buy it again at it's current price...  and not worry about whether it comes off as a "loss" or not.  Just using your Sears as an example... if you bought in May 2015 when it was at $43 a share, the next month it dropped down to $27 a share and continued the downhill until it is what it is today.  I don't think anyone would say someone who did that, if they are still holding all those shares, hasn't lost money.  Now that same person, if they would have reevaluated in June and been like, fuck... I screwed up, I don't think this is a sound investment and my money would be better somewhere else... they would have been a lot better off than someone still holding on to their Sears stock today.

This is why all of my serious investing is on auto buy... I don't care what the current evaluation is, I'm buying.  I don't mind for it to drop because that means I get to buy at a discount... the only real impact of those going down is to my dividends.  I do pay attention to it and make sure that I think the future is bright for it, otherwise I would sell, regardless of where it currently is.

[strife]

Doge coin was up 30% for about 5 minutes earlier today... Not sure why it went up, but still the fact that these can go up and down so much so quickly is frightening.

[strife]

Damn, everything I have $ in tanked today, I'm down ~20%(granted, not a lot of money invested)

[Crice]

I am down lots of money at the moment. Let me rephrase that. I am down lots of money if I sell!
CRO is still a great deal. I was hoping it would go up instead of down so I could sell all my Crypto on coin base and rebuy it on crypto.com. The trend I see is a few crypto that are up 50-400% end up going up again the next day. Take a look at the movers on coin base and read the website for the prospective gambles.

[Crice]

SUKU now up 154%
SHPING now up 300% although its down 40% today. Just look at the monthly, daily and yearly to see what the highs and lows are.

Is this a good buy? I have no idea. I am just gambling on 24 hour trades.

[strife]

Why Crypto.com > Coinbase?
https://www.cbsnews.com/news/crypto-com-...0-million/

Crypto.com said Thursday that cybercriminals had breached its security systems earlier in the week and made off with more than $30 million in stolen bitcoin and ethereum.

Sure this has nothing to do with the tanking...

[Crice]

I think the tanking is more from countries banning crypto because IMO they can't control it. I am down 50%. I just bought more yesterday and woke up to an even lower dip. Now I sit on it for awhile and hope for the best. *I need to stop looking at coin base 30 times a day*

[TinStar]

What about the US govt regulations that are being talked about? China banning them and the US govt regulating them can't be good for crypto right?

[Crice]

What about the US govt regulations that are being talked about? China banning them and the US govt regulating them can't be good for crypto right?

I read that China banned Crypto but are coming out with their own version of it. Who knows. This is a really harsh dip and I won CRO at .18 and some at .90 so ya....

[strife]

That's the whole problem with it, it's so new that the gov't hasn't had years to regulate it to death. The traditional stock market is pretty much a known entity, there's not a big chance of the gov't(any country for that matter), making a huge sweeping change that causes the entire market to tank. Crypto is still in the "what the fuck is this" phase.

Curious to see if this blows past and these all go back up. I wouldn't be surprised if this tank causes some to completely fail and no longer be a thing.

I swear, half of these of these crypto's people just made up thinking they may be needed one day but really they have no value... eventually everyone will figure that out.