current trades

[Zapmeister]

Re: current trades

but i thought you bought some bitcoins a while back

[Litodude]

Re: current trades

i have a shotgun

[Litodude]

Re: current trades

lol do u hear how dumb flappy coins sound lmao jesus christ i can't even take this seriously

i was going to write a response about diversification of assets but lmfao

[Arch0wl]

Re: current trades

cryptocurrencies are a shot in the dark by a blind person and inane

I agree with this for the most part, but if you have a shit ton of disposable to burn (like, 300k) you could literally blindly invest $1000 in every alt-crypto and if even one is widely adopted you've made ... well, assuming you could trade it for bitcoins and cash out, a fuckton. every other investment would be a complete blowout, though. it's not unlike playing the lottery on a much smaller scale.

actually, it'd be like penny stock investing but to a much more exaggerated degree, since some cryptocurrencies start out at something like $0.0001 per coin.

with that said, this is an extremely dumb idea if you don't have a lot of money to blow.

I mean, I'm in no position to invest right now, so obviously I haven't done this, it's just been something I thought about ever since I saw the rise of litecoin.

[Litodude]

Re: current trades

I agree with this for the most part, but if you have a shit ton of disposable to burn (like, 300k) you could literally blindly invest $1000 in every alt-crypto and if even one is widely adopted you've made

that same exact thought process has been applied before using pink sheets and it also doesn't work. you can think of that strategy like investing in pre-pre-emerging foreign currencies, and buying all of them at the same time. yes statistically, at some point, you will be able to generate a profit individually but over the lifetime of the underlyings you will lose money.

i'm sure with enough patience, notifications, bells, whistles, candle-charts, and whatever the fuck else you believe in, you can make a profit but that's just ttly inefficient as fuck.

there isn't even a derivatives market for it yet, you can't do anything fun except buy and wait patiently

[Arch0wl]

Re: current trades

I think the emerging foreign currency analogy is a lot closer to the pink sheet analogy. there are a huge number of pink sheets, iirc 15,000 more, but only something like 160-180 circulating currencies, and about half that many alt-cryptos have any sort of market cap whatsoever, so you have a limited number to even look at.

it'd either be an extreme profit or extreme loss scenario; there's not much in between. alt-cryptos either become viable (in which case they rise from something like $0.0001 to $2 per coin) or they completely bust. also, unlike currencies, coins more or less succeed based on marketing tactics and functionality, which you can to some degree evaluate if you're good at that sort of thing.

but yes, I am completely aware that if your goal is reliable or even steady profit, this is a horrendous strategy.

also, 'ttly' has to be the most confusing abbreviation I've read in a long time.

[Litodude]

Re: current trades

the only 1.0 positively correlated effect that multiple cryptocurrencies provide to the underlying(s) is liquidity to themselves. this relates to the fx currency analogy. we've even lived through the collapse of mutilple gov't-backed currencies into a centralized standard before: the euro. how many people do you think gained money by over-diversifying* ?

secondly, the analogy of pink sheet/OTC/penny stocks was to point out the most widely used scam in any market that doesn't have enough volume: the pump and dump^. the strategy is self-explanatory, but it still happens - even to this day. you think you know some news, or insider tid-bit, or you might fundamentally analyze (ROFL) that article A from omgbtc.com and article B from dogecoinamazinprofits.com and so on, have given you a market tip - an edge to something someone else doesn't know. ***** you just guessing a directional play (which is hopefully up). and once it pumps...it dumps. and it's a massive, stinky log.


*yes there is such a thing as over-diversifying and being unable to keep track of your portfolio especially when beta-weighted against specific equities like production, food, metals, oil, etc. u have no idea how shit's gonna move because you don't know how each of your positions are correlated

^ search up SYNACOR or NQ MOBILE if u think i'm just fuccen crazy

[Litodude]

Re: current trades

i prolly shouldn't compare apples to oranges but yo, finance theory is universal. you cannot defeat an ineffcient market (unless you create/created the market itself (e.g. brokers)) and you cannot expect to earn immediate significant profit without immediate significant risk. that is just plain statistics. i think cryptocurrencies are cool and they have the potential for creating an amazing market...if this, if that, and if a whole lot of shit happens to make it so. it's too early, and it's not early enough for you to make a reliable profit. it's purely speculation and it's BORING speculation

nuff that nasty shit let's talk about my CSCO earnings plae

[Litodude]

Re: current trades

https://www.google.com/finance?cid=99624

suck me baby

closed at 29.17 gee gee

oops meant to send this like an hour ago but yea sold right at open

[Arch0wl]

Re: current trades

I agree with you on virtually everything you said actually, especially the bit about finance theory being universal. Liquidity among other cryptos isn't a big deal though if they're able to be exchanged for bitcoins, since it's insanely easy to cash out bitcoins now.

What I'm curious about is how something like this differs from, say, investing in a tech startup, in terms of the end-goal. I've known (not personally, but am a degree of separation from) investors who will throw money at various startups and this actually works for them, because the profit from when even one startup succeeds is so enormous that it eclipses all of their other losses. Obviously some people are better at predicting the success of tech startups than others due to factors that are not financial, either partially or largely. I don't think you could have predicted the success of instagram if you didn't have a good social sense, for example.

But you mentioned "reliable profit" several times so I take it this is pretty far from what you're trying to get out of investing.

I frankly don't have any attachment to cryptocurrencies. They're useful for buying drugs and avoiding creditors, lol. Beyond that, I couldn't care less if they ceased to exist. My interest comes from knowing that the demographic who gets into things like alternative cryptocurrencies is the same demographic who gets into obscure linux distributions and if you can predict what one demographic is going to flock to on a mass scale, well, you already know where I'm going with this.

[Litodude]

Re: current trades

being able to cash out easily doesn't mean the bid/ask spread is very tight lol

venture capitalism is a completely different topic all-together and becomes more so a legal battle for equity control than anything else. gotta remember those companies are private, or publicly owned but privately managed (eg berkshire, closed-end funds, etc).

[Litodude]

Re: current trades

it's funny how you mention that because there's actually a rule used by most brokerages that you have to have a minimum balance of 25k in your account in order to use some of the more capital generating trading strategies like naked puts and futures

if you're trading naked futures then it's like 125k lmao

Congratulations - we have approved your account for options trading

You can now write uncovered options and more

8)

[Reincarnate]

Re: current trades

I'm more of a lazy type. Invest in diversified shit, let it grow.

[Litodude]

Re: current trades

https://www.youtube.com/watch?v=jGhULhxPKpA i do this on my roth rubix, it's the same shit as i mentioned preivously

[Litodude]

Re: current trades

https://www.youtube.com/watch?v=-g8TXgZdnf4 here's a 15yr study for it