Doge coin Elon Musk

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  1. #16
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    Quote Originally Posted by Skip Foursome View Post
    Cryptocurrency is all speculation. I do not see any reason for rise or fall in value.

    Funny the term currency is used with this so called "currency"
    Do you see any reason for stocks to rise and fall for no reason when the stock valuation has nothing to do with their intrinsic value?

    I find it funny that we consider "fiat currency" currency as well so how is this that different?

    The only real difference is that it's decentralized and not controlled by a government or the federal reserve.

    "Currency" is simply what anyone wants it to be that has value to someone else. Eggs or vegetables were currency at one point and still are in some places even here in America.

    If I have a billion turtles and everyone wants a turtle then I'm a rich motherfucker but if no one wants one then I have a billion turtles and that's it. Make sense?

    The dollar has no intrinsic value outside of the fact that it is the world currency and is only still that because we keep our guns pointed at everyone....The recent examples I can think of people who spoke out about the petro dollar were Sadam and Gaddifi....both of which we killed.

    We're either of them any real threat to us?

    No, they weren't. It's not like either was launching nuclear missiles at us or going to invade so no actual threat.

    If we take our guns out of the scenario how valuable is the dollar based on the amounts we keep printing? It's a joke from where it was even in my lifetime and when you go back further it becomes more of a joke.

    https://www.in2013dollars.com/us/inf.../1900?amount=1

    $1 in 1900 is equal to roughly $31 dollars today.

  2. #17
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    Quote Originally Posted by Skip Foursome View Post
    How is this any more nuts than this?

    https://www.morningstar.com/news/dow...-400-this-year

    Same 400% and that was during a "Pandemic"

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    The whole doge coin gme thing is crazy. It really shows how fake the stock market has become. I dont see doge ever being as valuable as bitcoin just for the factor that doge is so much more abundant then bitcoin. Eventually the inflationary aspect will work against it. There are only 900 bitcoin mined a day. With a limit of 21,000,000 to ever be produced. Doge coin is mind at 10,000 per block with no limit.

    It is nice to see some regular people become rich off of the stock market though.

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    Quote Originally Posted by gear church View Post

    If I have a billion turtles and everyone wants a turtle then I'm a rich motherfucker but if no one wants one then I have a billion turtles and that's it. Make sense?

    .
    TURTLES! Fuck man! ďI like turddles.Ē
    What kind? I mean, I would buy some of them.....if only I havenítbeen buying more and more DOGE every time it drops below .25.

  5. #20
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    Quote Originally Posted by gear church View Post
    Do you see any reason for stocks to rise and fall for no reason when the stock valuation has nothing to do with their intrinsic value?

    I find it funny that we consider "fiat currency" currency as well so how is this that different?

    The only real difference is that it's decentralized and not controlled by a government or the federal reserve.

    "Currency" is simply what anyone wants it to be that has value to someone else. Eggs or vegetables were currency at one point and still are in some places even here in America.

    If I have a billion turtles and everyone wants a turtle then I'm a rich motherfucker but if no one wants one then I have a billion turtles and that's it. Make sense?

    The dollar has no intrinsic value outside of the fact that it is the world currency and is only still that because we keep our guns pointed at everyone....The recent examples I can think of people who spoke out about the petro dollar were Sadam and Gaddifi....both of which we killed.

    We're either of them any real threat to us?

    No, they weren't. It's not like either was launching nuclear missiles at us or going to invade so no actual threat.

    If we take our guns out of the scenario how valuable is the dollar based on the amounts we keep printing? It's a joke from where it was even in my lifetime and when you go back further it becomes more of a joke.

    https://www.in2013dollars.com/us/inf.../1900?amount=1

    $1 in 1900 is equal to roughly $31 dollars today.
    Quote Originally Posted by gear church View Post
    How is this any more nuts than this?

    https://www.morningstar.com/news/dow...-400-this-year

    Same 400% and that was during a "Pandemic"
    This is an interesting topic and wish I had more time on my hands to discuss.

    For me, owning a stock like a utility company for example deals in commerce. They sell electricity, they have tangible equipment, power lines and by investing in the utility so they can capitalize on their business they pay me a dividend plus their stock goes up in value based on how profitable they are.

    With crypto there is nothing tangible. It is not like a commodity like oil or gold. It all looks like speculation on IF it is going to get bought or sold on a whim.

    As to the stocks that went up 400%, maybe that was correct price based on business model and increased sales.

    While I agree Zoom had an explosion of business due to covid, I am not sure it was worth as much as the stock price. I would have to see the profit along witrh PE ratio and so on.....

  6. #21
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    Skip, remember, the whole ďdot comĒ boom that made million and billionaires was based on nothing tangible. Literally ideas and cyber-shit. Thatís why so many came and went. Some came...and keep coming a la Peter North.

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    Quote Originally Posted by CoachCabo View Post
    Skip, remember, the whole ďdot comĒ boom that made million and billionaires was based on nothing tangible. Literally ideas and cyber-shit. Thatís why so many came and went. Some came...and keep coming a la Peter North.
    I agree, the .com boom and bust was from very scandelece pumping and dumping of stocks and cooked books or accounting.

    Capitalism is not without fault that's for sure.

    Remember Enron, Health south and others that went to jail. Not exactly related to the .com stocks but those are examples.

    I still prefer stocks, not saying any of you are wrong, I just can't wrap my head around it and if I cannot understand it then I don't buy it.

    And no I am not some old man set in his ways....
    Last edited by Skip Foursome; 04-18-2021 at 11:37 AM.

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    China silently buys gold and sells Ali baba shares.
    Attached Images Attached Images
    [SIGPIC][/SIGPIC]D-Bol does a body good ...

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    China has been buying gold for a long time, and they never give it away. What if they can back the yuan with gold ?
    [SIGPIC][/SIGPIC]D-Bol does a body good ...

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    It's gone up line 200% in a week.

    I don't think it's going to stop rising any time soon either.

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    Quote Originally Posted by Skip Foursome View Post
    This is an interesting topic and wish I had more time on my hands to discuss.

    For me, owning a stock like a utility company for example deals in commerce. They sell electricity, they have tangible equipment, power lines and by investing in the utility so they can capitalize on their business they pay me a dividend plus their stock goes up in value based on how profitable they are.

    With crypto there is nothing tangible. It is not like a commodity like oil or gold. It all looks like speculation on IF it is going to get bought or sold on a whim.

    As to the stocks that went up 400%, maybe that was correct price based on business model and increased sales.

    While I agree Zoom had an explosion of business due to covid, I am not sure it was worth as much as the stock price. I would have to see the profit along witrh PE ratio and so on.....
    My friend calls Crypto a pyramid scheme and I guess I can't argue.

    I've been lucky to get some return on btc since I have had quite a few clients pay me in btc over the years and I never touched it.

  12. #27
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    Quote Originally Posted by Skip Foursome View Post
    I agree, the .com boom and bust was from very scandelece pumping and dumping of stocks and cooked books or accounting.

    Capitalism is not without fault that's for sure.

    Remember Enron, Health south and others that went to jail. Not exactly related to the .com stocks but those are examples.

    I still prefer stocks, not saying any of you are wrong, I just can't wrap my head around it and if I cannot understand it then I don't buy it.

    And no I am not some old man set in his ways....
    Back then these guy making absolutely nothing you could hold in your hand were getting stinking rich but guys crafting items like boats, furniture and art were making shit cash compared to the cyber guys.
    I couldnít wrap my head around it.

    Fast forward and this bitcoin thing was all the rage with my motorcycle forum friends. Buying some sort of computer money for up to $600 even. I thought it was mad. Some of them bought as many as 100 bitcoins!

    Fast forward again to around 2017 and I start buying bitcoin to immediately send away for raws. Some coins as low as $5500 or so. I saw no reason to buy otherwise.

    Look at it today. I only recently have begun to understand crypto and bought some bitcoin around $25k. I last week bought a shitload of DOGE at .08 andkeep buying more at .25.
    Itís worth throwing a grand at if you can buy at 25 cents and forget about it.

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    Quote Originally Posted by CoachCabo View Post
    Back then these guy making absolutely nothing you could hold in your hand were getting stinking rich but guys crafting items like boats, furniture and art were making shit cash compared to the cyber guys.
    I couldnít wrap my head around it.

    Fast forward and this bitcoin thing was all the rage with my motorcycle forum friends. Buying some sort of computer money for up to $600 even. I thought it was mad. Some of them bought as many as 100 bitcoins!

    Fast forward again to around 2017 and I start buying bitcoin to immediately send away for raws. Some coins as low as $5500 or so. I saw no reason to buy otherwise.

    Look at it today. I only recently have begun to understand crypto and bought some bitcoin around $25k. I last week bought a shitload of DOGE at .08 andkeep buying more at .25.
    Itís worth throwing a grand at if you can buy at 25 cents and forget about it.
    DOGE was pumped up by musk as a joke.

    https://www.forbes.com/sites/billyba...h=98327b93651b

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    This is a very dangerous tool, difficult to predict. When a coin is openly speculated, then making money from it is a matter of luck. It's like a casino.


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    Quote Originally Posted by Skip Foursome View Post
    This is an interesting topic and wish I had more time on my hands to discuss.

    For me, owning a stock like a utility company for example deals in commerce. They sell electricity, they have tangible equipment, power lines and by investing in the utility so they can capitalize on their business they pay me a dividend plus their stock goes up in value based on how profitable they are.

    With crypto there is nothing tangible. It is not like a commodity like oil or gold. It all looks like speculation on IF it is going to get bought or sold on a whim.

    As to the stocks that went up 400%, maybe that was correct price based on business model and increased sales.

    While I agree Zoom had an explosion of business due to covid, I am not sure it was worth as much as the stock price. I would have to see the profit along witrh PE ratio and so on.....
    REITs have to allocate 90% of their profits to the shareholders so thatís pretty cut and dry. Personally all Iím doing is playing swings in MFA and parking money in JPM and NLY right now, the market has me spooked and these plays are about as safe as they come.

    The point that GC is making though is that fundamentals really donít matter, they just act as a guiding principle to determine what direction the pressure will be on a particular security. But the pressure, not the fundamentals, determine the stock price.

    Cash is no different, itís only worth what someone says it is, and while weíre at that, gold is no different either. People or groups that can put tremendous pressure either up or down on securities and commodity prices can create their own destinies and everybody else has just been chucking their money into the pot to get taken. Granted sometimes you can artfully navigate the market to make a buck but for the most part the house always wins.

    Thatís what the whole WSB thing has been about, circumventing the media machine that has traditionally been a mouthpiece for investment banks and hedge funds and banding together and creating your own pressure.

    Iím still staying away though, everything is so volatile and personally I feel like the market is going to shit tank soon. Itís my business to have my finger on the pulse of business and I can tell you most industry is taking a serious downturn right now. COVID is doing more damage to the economy than anybody wants to admit at the moment. Eventually the market will begin to mirror the true state of the economy.

    And news flash, JP Morgan and Goldman Sachs are shattering earnings because the outlook for the economy is fucking terrible. Theyíre making their money in investment banking because people are trying to secure their cash reserves. Me and my partners are about to put about 90% of our cash reserves into a brokerage account to shield ourselves from lawsuits and inflation but most importantly because there is NOTHING to spend it on, no industry to grow into at the moment, no growing possible at all.


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