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stonks, crypto and NFTs


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Do you own cryptocurrency?  

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  1. 1. Do you own cryptocurrency?

    • Yes.
      11
    • No, but I have heard of it.
      31
    • No, and I have not heard of it.
      1

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After McAfee’s death I started collating some material on him, I know some highlights but would like to know more of his life/career.

i stumbled on this talk that focuses on crypto… I didn’t know he was into it, although not a surprise 

Apologies for the “inspirational” edit, haven’t had chance to track down the original

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  • 2 weeks later...

So who here already bought their first NFT? Huh?

On 9/9/2017 at 6:51 AM, PogoP said:

Yep. Out of curiosity, I bought £10 worth of Bitcoin the other day. 3 days later, the value of Bitcoin drops and I lost £1 hahaha

Your 10 bucks investement in BTC on 9/9/2017 is now worth nearly 125.

That's a 1148% return.

 

Screenshot_20211010-013947_Brave.jpg

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  • ┌HP┘ changed the title to stonks, crypto and NFTs
45 minutes ago, dux said:

I don't know anything about any of this. Is it worth dipping my toe in? I got spare cash that's not doing much.

how much time do you want to spend on this? if close to zero, then just slap it in some index fund and keep adding over time and forget about it

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48 minutes ago, dux said:

I don't know anything about any of this. Is it worth dipping my toe in? I got spare cash that's not doing much.

Dumping a couple of grand into Coinbase into Bitcoin is probably the most vanilla, sane thing you can do in this space, which is a fairly whacky space. Most people just let the money sit there for years, so it’s not really an active trading situation, you’re just hoping Bitcoin will go up a few thousand while you held

It’s quite speculative, but that’s maybe what you’re looking for if you’ve got excess cash that isn’t earning interest and you don’t feel like putting it into the stock market

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Maybe dip your toes with money you are comfortable losing if you just want to fuck around with it. The best way to learn is by doing and studying. In the near term, any investment can have massive volatility, and it can be nerve wrecking to see your capital down by 50% or so in a matter of days.

As Pampers said, if you want to spend zero time on this, the easiest thing is to buy index funds (tickers: SPY, QQQ, etc...) and forget about them. But keep in mind that that it's not guaranteed you will get good returns from here. The market has been in a massive bull run since 2008, and things have gone parabolic since the covid crash... The easy gains have already been made probably.

Honestly I wouldn't recommend doing any serious investing unless you take the time to understand the basics and know your risk appetite, so you won't do like I did many times and sell at the worst times 🤣 It's your hard earned money, and this is a traders market at the moment, it's very easy to get burned when most of the stocks are at very high valuations (historically). Maybe open small positions here and there and forget about them, but right now is probably not the best time to load the boat :D 

Here's a book that helped me find many gems: https://www.amazon.com/dp/B007FM61SG/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 Peter Lynch was the most successful fund manager in history, and he wrote that book for laymen like you and I. It's a short and enjoyable read, light on technical terms but with very useful knowledge :)

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15 hours ago, dux said:

I don't know anything about any of this. Is it worth dipping my toe in? I got spare cash that's not doing much.

I Dollar cost average (DCA) in index funds and ETF's that reflect markets that might keep growing. I'd be weary of individual stocks or even crypto... unless you go long on your buys.
If you don't know what DCA is, it's basically a technique that entails investing a fixed amount of money in the same fund or stocks every month over a long period of time. That fixed amount is usually a percentage dictated by you, when you analyze your finances. (How much can you invest out of your paycheck every month, the more you put, the more money you'll have working for you.)

I wouldn't park money on a savings account, you're loosing money to inflation, your money is literally loosing it's value every year (2%/3% annually on average, more so in 2021) so you need to make sure you're hedging for inflation at the very least. 
If you don't know what hedging is, say inflation is 3% that year, and you have all your investments on the S&P500, which makes on average 8% a year. You actually made 5%. So you didn't loose money to inflation, you actually made some back since you put your money to work while you slept. That's hedging in a nutshell as I see it. There's other ways, gold, silver, real estate, etc. They're called assets (vs liabilities).

That said, it's wise to have some money saved, it's called a emergency fund (usually enough money to survive 6 months without being employed, case anything goes wrong and you need access to cash, fast) to have more money than that pile up on a savings account, is widely regarded as a bad financial decision, since that money isn't being put to work for you, your bank does it for you without you even knowing, and you only see 0.01% back in interest.

As for which Index Funds you think are the best, I always revert to index funds that reflect the whole US stock market, and other index funds that reflect the international market, and the S&P500. You're basically investing in thousands of companies at once, it's a big basket, so even if one company does horribly that year, you have all the others affecting the average, these things historically keep going up, decade after decade.

If the market is down, you buy. If the market is up, you buy. You don't need that money tomorrow anyway, this is mostly for retirement so forget about daily, or even monthly market fluctuations.

In the US there's retirement accounts like the RothIRA where your investments grow tax free, and others like the 401k where you invest your money before it's taxed (usually through your employer), study what options you have in EU / your country for retirement accounts, and look at the expense ratio of the index funds that they offer. The sooner your start DCA'ing, the sooner you can retire.

 

As for crypto... I allocate 5% of my total portfolio to cryptocurrencies. It's a riskier investment, but having some exposure to it, so far has been my best decision in terms of investments, even with such a low percentage.
As for which crypto to buy, I simply DCA on BTC, ETH, ADA and leave most shitcoins alone.

 

As thiago said, dedicate some time to read about this shit, you'll be thankful you did when you get old.

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Wish I had the money, or that I invested some time ago. At least I would be in, now I feel like I might need to cash out whenever. Although as for how things are (not) moving, I should probably just do it.

~
Anyway, would this be the end of the party? How long before this stuff could come into effect? 3-5 years?

 

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1 hour ago, blackdog said:

Wish I had the money, or that I invested some time ago. At least I would be in, now I feel like I might need to cash out whenever. Although as for how things are (not) moving, I should probably just do it.

~
Anyway, would this be the end of the party? How long before this stuff could come into effect? 3-5 years?

 

Regulation isn't *always* a bad thing, btw. Regardless, the SEC already said they wont ban crypto.

Btw, that "Damn it... I lost the boat, now it's too late." feeling is easily solved with the aforementioned DCA technique. Buying slowly but steadily helps you have some exposure, while mitigating risks.
And apparently, 13% of Americans own crypto VS 64% own stocks. So we're not at mass adoption stage yet... but deffo getting there. Apparently crypto adoption curve is the fastest in human nature. Fastest than electricity, phones, the internet, TV, PCs... etc. 

I had my doubts, part of me still does (due to it being too much of a wild west) but I think this stuff is here to stay, and in the future even our parents will hold crypto.

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