Down goes the Dow

seattle prattle wrote:

agip wrote:

yeah you go with that.

invest in highly, highly volatile and fashionable assets and then when they go against you, blame the big boys for your losses.

Good strategy. That will get you far.

/sarcasm

Agip, there's some statistics out there how a small number of "whales" own a disproportionate share of the available coins. It is astounding and frankly calls out to suspect that manipulation occurs if not outright collusion in this unregulated market. I have been saying this all along, btw.

And on another note, i hope you saw my reply on the Trump thread that my disparaging comment was intended squarely at Trump, not you. Appreciate your contributions on that discussion.

The point still stands - buy a meme asset, expect meme results. Especially when you over expose/leverage on it

seattle prattle wrote:

agip wrote:

yeah you go with that.

invest in highly, highly volatile and fashionable assets and then when they go against you, blame the big boys for your losses.

Good strategy. That will get you far.

/sarcasm

Agip, there's some statistics out there how a small number of "whales" own a disproportionate share of the available coins. It is astounding and frankly calls out to suspect that manipulation occurs if not outright collusion in this unregulated market. I have been saying this all along, btw.

And on another note, i hope you saw my reply on the Trump thread that my disparaging comment was intended squarely at Trump, not you. Appreciate your contributions on that discussion.

I didn't see your post but on the other hand I wasn't offended by anything so all good.

CCP wants to nationalize Ant Group and Alibaba.

When the US finally wakes up, I'm gonna win this bet yugely

Dr. Racket wrote:

seattle prattle wrote:

Agip, there's some statistics out there how a small number of "whales" own a disproportionate share of the available coins. It is astounding and frankly calls out to suspect that manipulation occurs if not outright collusion in this unregulated market. I have been saying this all along, btw.

And on another note, i hope you saw my reply on the Trump thread that my disparaging comment was intended squarely at Trump, not you. Appreciate your contributions on that discussion.

The point still stands - buy a meme asset, expect meme results. Especially when you over expose/leverage on it

No, i agree completely. Honestly, as the thing was going up, i thought what a convenient trap. The hope is that with institutional participation, less of that would be possible. The other thing that makes me super nervous is that it is not possible to short it like you could with a stock. I think shorting keeps things real. Without it, it is far easier for whales to pump and dump.

Tread carefully in that area.

Dr. Racket wrote:

CCP wants to nationalize Ant Group and Alibaba.

When the US finally wakes up, I'm gonna win this bet yugely

ooorah

to the moon!!!!!!!!!!!!!!!!!!!!!!!

Dr. Racket wrote:

CCP wants to nationalize Ant Group and Alibaba.

When the US finally wakes up, I'm gonna win this bet yugely

The US wakes up to what? And what's your bet?

You mean cutting off business ties with the CCP BS?

Swaglord_the_real_one_1_one_1 wrote:

Dr. Racket wrote:

CCP wants to nationalize Ant Group and Alibaba.

When the US finally wakes up, I'm gonna win this bet yugely

The US wakes up to what? And what's your bet?

You mean cutting off business ties with the CCP BS?

Dr R and I have a wager on which will outperform: US or China.

Although I'm not sure how Racketovich is measuring the US.

So far, after 3 months, China is kung-fuing the US across the mat.

Hope that's not racist. But it's true. Metaphorically.

3 months

USA (VTI): +14%

China (CXSE): +21%

Swaglord_the_real_one_1_one_1 wrote:

Dr. Racket wrote:

CCP wants to nationalize Ant Group and Alibaba.

When the US finally wakes up, I'm gonna win this bet yugely

The US wakes up to what?

The fact that China is the enemy

agip wrote:

Although I'm not sure how Racketovich is measuring the US.

Arbitrarily. Same with China. But I can assure you I'll be a good sport and fair about it.

China cooks the hell out of their books and everyone knows it - plus let's not forget that many aspects of the country at communist. I'll want to look at various things like GDP, purchasing power maybe, equity prices, and an overall holistic view. My main thesis is that the world is getting sick of China's bullsh!t. This whole coronavirus thing was the breaking point and the EU and the and US, along with our allies in the Pacific, are going to start to move against China in a coordinated way.

So, China might end the year with "higher" stocks and GDP, but it's gonna be more like a gut check I think.

Problem is that it may be too late.

The US's policy from the beginning to curtail the gluttonous and greedy capitalists should've been that for every dollar of investment that goes to China and Chinese factories, a dollar should be spent in India, Vietnam, Indonesia, Philippines, etc.

There also should've been a 1 for 1 policy for university admissions. For every American that goes to university in China (obv not a lot) there could be 1 Chinese that comes here. That would've stopped all of our best universities from giving away the knowledge of the universe to the 10's of thousands of Chinese PhD's that took the knowledge and went back to China to build their military and industrial abilities.

Dr. Racket wrote:

agip wrote:

Although I'm not sure how Racketovich is measuring the US.

Arbitrarily. Same with China. But I can assure you I'll be a good sport and fair about it.

China cooks the hell out of their books and everyone knows it - plus let's not forget that many aspects of the country at communist. I'll want to look at various things like GDP, purchasing power maybe, equity prices, and an overall holistic view. My main thesis is that the world is getting sick of China's bullsh!t. This whole coronavirus thing was the breaking point and the EU and the and US, along with our allies in the Pacific, are going to start to move against China in a coordinated way.

So, China might end the year with "higher" stocks and GDP, but it's gonna be more like a gut check I think.

I agree with your post, but I'd add that the stock market don't care.

1.4 billion people wanting to get money and disposable income...won't be denied by no stinking trade pacts. Momentum is more meaningful here. You are trying to hold back the tide.

Here's a reason why mass adoption of BTC is probably not a thing:

NYT:

Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis. Wallet Recovery Services, a business that helps find lost digital keys, said it had gotten 70 requests a day from people who wanted help recovering their riches, three times the number of a month ago.

Insane nonsense. Coins and miners. ?

Ghost of Igloi wrote:

Insane nonsense. Coins and miners. ?

Agree, so seems like seattle would be all over it since it mirrors his politics.

What is strange is Bitcoin is the antithesis of Green. Oh, clean coins free of Covid. ?

Ghost of Igloi wrote:

What is strange is Bitcoin is the antithesis of Green. Oh, clean coins free of Covid. ?

Do you just live off pure contrarian troll energy? You literally poke an unprovoked stick at everyone for everything

agip wrote:

Here's a reason why mass adoption of BTC is probably not a thing:

NYT:

Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis. Wallet Recovery Services, a business that helps find lost digital keys, said it had gotten 70 requests a day from people who wanted help recovering their riches, three times the number of a month ago.

There is some truth to that.

I was going to drill down into this in great detail, but suffice it to say that there's different ways to go about it and each has inherent risks. I've tried them all. For me, keeping it with the broker, like PayPal or Coinbase, is the most convenient. But it has the drawback that your holding is at risk if they get hacked.

Keeping it secure requires some real tech savy and forethought, and actually quite a bit of it, and if you have a holding of any size, you are most likely going to need that precaution.

Yesterday i sold about half mine, in that it just isn't worth the time for as little as i feel comfortable risking. I feel that way now that it is rocketing up and down, which require my attention. Otherwise, i would just let it ride. Currently i am just a few percent in the red.

So yeah, it comes with a lot of strings attached, and yes, they are formidable.

Dr. Racket wrote:

Ghost of Igloi wrote:

What is strange is Bitcoin is the antithesis of Green. Oh, clean coins free of Covid. ?

Do you just live off pure contrarian troll energy? You literally poke an unprovoked stick at everyone for everything

Oh, snap!

Dr. Racket wrote:

Ghost of Igloi wrote:

What is strange is Bitcoin is the antithesis of Green. Oh, clean coins free of Covid. ?

Do you just live off pure contrarian troll energy? You literally poke an unprovoked stick at everyone for everything

Well at least I see the ingeniousness of it all.