The Stock Market, Investments, and Investing Thread
#58
(09-28-2019, 05:18 PM)ChicagoFire Wrote: I haven't checked crypto price charts in a while. I also don't care about the new updates, news, etc. You have to be a certain addictive personality that likes to day trade (and probably play around drugs) but that's not me.

Your first response, CF, about not really being too interested in crypto did not really cause me to feel that I should respond, and even billydingdong's assertion that there is some kind of scary situation currently going on in crypto, merely because there is a bit of a price correction going on.

I actually believe that there is considerable fuzzy thinking going on if you attempt to understand crypto as a general phenomenon without really having a decent idea what bitcoin's role within that whole space is. So yeah, in that regard, getting to really have a decent grasp of what bitcoin is could be a quite extended process to try to figure out, but your conceptually lumping the whole space together is likely going to lead you to all kinds of wrong conclusions in terms of getting anywhere even close to understanding what is actually going on in bitcoin and how the rest of crypto relates to that.

Regarding day trading, I don't consider myself to be one of those, even though I did adopt a swing trading approach that I am attempting to employ with bitcoin that sometimes had ended up having to be acted upon more frequently when the BTC price swings are in phases of greater radicalness. I understand that some guys might argue that there is really no difference between a day trader and a swing trader, yet I believe that there is in
terms of both purpose and hopefully how the whole matter ends up playing out. A swing trader might be more concerned about playing broad swings in order to provide some downside insurance and not necessarily aimed at making short term profits, even if the overall swing trading practice is likely to result in profits - and that is largely where I consider myself to be, currently in regards to my bitcoin practices.

(09-28-2019, 05:18 PM)ChicagoFire Wrote: I wouldn't be surprised if there's crypto kiddies that drive around in Rolls Royces and flash Rolexes (great way to attract negative attention).

The image that you are painting again seems to conflate crypto and bitcoin, and to even assume that there is only get rich quick in all of this, even though the get rich quick does have a decent amount of factual truth to considerable wide-spread occurrence - including some instance of get poor quick too by not playing the situation very well.

(09-28-2019, 05:18 PM)ChicagoFire Wrote: Not my lifestyle and after all the years working terrible jobs I'd like to think I don't throw away money.

For sure there seems to be large advantages to exercising prudence and thinking through any of your investments.

(09-28-2019, 05:18 PM)ChicagoFire Wrote: We all hit rock bottom, I think that's part of being a man. Even if I do sell I want to keep a tiny amount. If crypto is really going to the stars at least I make even more. 

You are implying that you do own some crypto, and I sense part of the problem is that you are possibly failing and refusing to look into how bitcoin is the king daddy of the space, and maybe that is part of the reason that a distraction with Monero (as you previously mentioned) might have led you into wrong thinking about what is actually going on and what most likely brings value to the space - including foundational principles of bitcoin's sound money contribution.

Of course, billydingdong and I have already gone around the block quite a bit regarding his various beliefs in ethereum, and we have largely agreed to disagree regarding either what he perceives as ethereum's value proposition, and his assertion that I don't know what is going on in ethereum enough in order that I can recognize ethereum's value proposition (which of course, several times, I have already denied that assessment of my view on the ethereum matter).

(09-28-2019, 05:18 PM)ChicagoFire Wrote: I'm pretty sure I bitched about Illinois on Rooshv and wanting to move, I might make it happen late next year. If I trust you I can let you in on details.

Surely moving can take a whole hell of a long time, depending also regarding whether you have to change professions or wrap up business matters in an old jurisdiction to either move it to a new location or just to change businesses. I have been transitioning for several years, now, and surely I keep saying that I am going to go into a traveling status, rather than specific move to another jurisdiction to change quality of life. But, yeah, traveling could get old, so then a change of base (which I also recently did, and it has definite tax benefits) could cause me to end up spending more time than I wished to have done at the new location that has the tax benefits, but I like some of the excitement of other locations, too.

Sometimes, I, also, am quite disinclined to reveal too many details about my geographical location, even though from time to time, geographical location is quite relevant to points that are being made, whether talking about taxes or even about banging opportunities, which seems to be a declining interest in RVF - in recent days, my RVF rank did turn into a Crow.. rather than an Innovative Cassanova... not that I really care that much about titles, but Jesus, the sexual innuendos are becoming nearly completely white washed off of the acceptable ways of thinking in regards to guy motivations (which I would hate to lose my desire to seek out the banging of chicks... which might be part of the reason that a certain number of guys are motivated to reach comfortable financial status... attempting to relate the matter back to the investment thesis of this thread).
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RE: The Stock Market, Investments, and Investing Thread - by JayJuanGee - 09-28-2019, 06:14 PM

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