Tweet
Yes? No? Why? Why not? If yes, which and why that one?
-
Kung Wu say, man who read woman like book, prefer braille! -
Trump just signed an EO to make America the world leader in crypto.
Kung Wu say, man who read woman like book, prefer braille! -
First read this:Originally posted by Kung Wu View Post
And now:
Crypto is just one of many financial instruments that will go up and down over time.
As mentioned, you're likely a little late to the party on Bitcoin, but if you want to make a bet, you can pick up a micro futures contract (MBT) and eliminate the issues of dealing with crypto brokers/exchanges. MBT is traded on the CME. This is where the big boys play. I currently have positions on in Bitcoin. I also have positions in S&P, Nasdaq, gold, crude oil, etc.
Have a plan. Stick to your plan. Know where you want to get out (for profit or loss) before you ever plunk down some coin.
If you want to invest, consider dollar cost averaging in over a period of time. Maybe choose a nice crypto ETF.
Again, know where you want to get out first!
Disclaimer: There's an excellent chance you will lose money on any "trading" endeavor for reasons that are too extensive to discuss now. Anything outside of just systematic investing (like how you would do in a 401K) over a long period of time, and you are opening yourself up to the sharks... like me. Trading is a negative sum game for 99% who participate. The low barrier to entry is one of the greatest lies in the world.
Good variance to you!Comment
-
Okay, I read it.Originally posted by C0|dB|00ded View Post
I don't know squat about why people choose the crypto they do. Why do people flock to Bitcoin specifically? Because it was the first?Originally posted by C0|dB|00ded View Post
Tulips can be multiplied easily. Even more so crypto currencies can be generated out of thin air easily (I don't mean that a specific coin can be mined easily, I mean an entire new ecosystem can be launched easily).
Why do people value them? Is it pure speculation?
Okay, I will research MBT.Originally posted by C0|dB|00ded View PostKung Wu say, man who read woman like book, prefer braille!Comment
-
Bitcoin is kind of the gold standard, an index for crypto sentiment if you will. There's good volume and volatility to trade it. The more exotic coins are going to be less predictable and liquid.Originally posted by Kung Wu View Post
Here's a list of all the mini/micro futures contracts. The nice thing about trading on the CME is it is a regulated exchange. All you have to do next is get a solid futures broker (if you want to trade futures) and you are set:
https://www.cftc.gov/MarketReports/f...data/index.htm - just click on the latest month for the broker/FCM's financials
Futures have a LOT of leverage, so.... caveat emptor. There's a maintenance margin that must be met as well at the end of each trading day in order to hold the contracts overnight. There's also a rollover that occurs, quarterly/monthly depending on what contract ticker you are holding.
The current maintenance margin on one MBT contract is $2500. That allows you to hold it continually (not exit at the end of the regular market hours). The notional value of one MBT contract is 1/10th the value of Bitcoin. So here you get to take part in the price appreciation/depreciation of Bitcoin without shelling out $104,119.20. Of course you can also be short Bitcoin with a futures contract as well.
Ultimately everything is speculation when it comes to the markets. Even the worker who is investing in the S&P for retirement. He/she is speculating on the U.S. economy growing over the decades. it's a good bet!
Don't think of Bitcoin as anything different/special than the latest hot stock. It is a "store of value", it has a price, and it can either go up or down. You get to pick which direction. :)
Pro tip: Buying gold every day for the last 10 mos. or so has been a VERY good bet!Comment
-
"You Just Want to Slap The #### Outta Some People"Comment
-
This image didnt render for me but I am intrigued!Originally posted by WstateU View PostKung Wu say, man who read woman like book, prefer braille!Comment
-
I don't understand crypto at all and I'm too old to want to learn. I have made it an investment rule to never invest in something I don't even understand the basics in.Go Shocks!Comment
-
I have ignored crypto entirely because the only inherent value of it is the decentralized nature of it, allowing for completely private c2c, b2b, b2c transactions. But even that value is tiny since there are so many alternatives.Originally posted by C0|dB|00ded View PostKung Wu say, man who read woman like book, prefer braille!Comment
-
Yes, I don't invest in stuff I don't understand either, but I'm definitely willing to learn still. :) I understand the tech behind crypto, and that's actually the reason I have never invested in it. It's an easily repeatable algorithm with no inherent value other than to make completely private digital transactions.Originally posted by ShockerDropOut View PostKung Wu say, man who read woman like book, prefer braille!Comment
-
Yes. Futures losses when long are limited to Bitcoin falling to zero. When short it is unlimited. A stop-loss is recommended.Originally posted by Kung Wu View PostComment
-
Stay the course and hire a well respected’wealth management’ advisor. I sleep like a baby. His firm is my wingman.Originally posted by Kung Wu View Post"You Just Want to Slap The #### Outta Some People"Comment
-
Are you going to start the Shockernet crypto then KungWu?Last edited by ShockerDropOut; 2 days ago.Go Shocks!Comment
-
While some will make some coin with crypto, there will be a lot of feelings like this too:
Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind. ~Dr. SeussComment
-
Yes, for 99.99% of the public out there, just invest in total market/index funds and bonds according to a ratio that's appropriate for your age. And yes, you can share some of your returns with a financial advisor (wingman) as well if you want.Originally posted by WstateU View Post
"Wealth advisor"
That term still cracks me up whenever I see it. We've essentially been in a bull market since 2009. During that period financial advisors started calling themselves "wealth advisors".
I will assure the fine folks of this forum, that a day is coming where we will be in another major mess, a la the Dot.com or RE crash of 2000, and 2007 respectively. When that time comes, if you are heavily into the "hot" stocks of the day, you will enjoy a minimum of a 50% portfolio haircut. If you are old, you better be owning or buying bonds right now.
Don't come crying to me later if you don't heed.
Take a look at PTY. Consider averaging into that beauty.
Cash should be in SGOV or USFR right now.Last edited by C0|dB|00ded; 2 days ago.Comment
Comment