The Official M6G Investment thread

[Bull Run]

Can't disagree with that, this one is a colossal flop.

Agreed. I mentioned a while back that while I liked the concept of cryptocurrency, the human nature of greed made it unsuitable as a medium of exchange nor store of value.

So what happens when you run out of money to invest but greed clouds your mind? Invest more via margin! Around 36 minute mark of Peter Schiff & Alex Mashinsky debate Bitcoin: Gold 2.0 or fool's gold? clip (note, this was recorded last year when bitcoin was around $60K), Peter states:

"and you get some people that come in and that's happened but the momentum is going to drop bitcoin is going to crack"
"maybe once it gets back down below 20 000 you'll have a lot more selling coming in i think a lot of people have"
" taken out loans against their bitcoin which they hadn't been able to do in the past so you have a leveraged bet now"
" among the hodlers i think when the margin calls come there's not going to be a way to meet them you're going to"
"have forced liquidation there's not going to be anybody to take the other side of the trade it's not like you got"
"a bunch of shorts in bitcoin that are going to cover it's just going to fall into a vacuum"

As for me personally, I never got into investing in cryptos is because I don't need to take extra risk to meet my goals, and almost all people pushing cryptos online talks like the "hand" in the comic below.

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[jtmat]

Last I read: taxpayers can offset gains from losses in cypto... and then deduct 3k against taxable income. Have to sell and realize the loss... but crypto does not have the wash-sale rule.... so....

It is not all bad...

 

[key01]

offset gains

wait, what? You mean to say you can gain money in the market?

 

[jtmat]

wait, what? You mean to say you can gain money in the market?

Don't understand your question. Can you elaborate?

 

[key01]

Don't understand your question. Can you elaborate?

Just referencing the market’s poor performance lately. That is all. No elaboration needed

 

[Bull Run]

Crypto.was never and "investment" and never will be until it's FIAT haha in which case what's the point.

Better off to buy Rubles as the only commodity backed currency in the world.

And that's the issue because people are treating crypto as a get-rich-fast scheme that causes extremes volatility and gets upset when they don't pull out in time: https://www.reuters.com/legal/trans...r-alleged-dogecoin-pyramid-scheme-2022-06-16/

At least with fiat currencies, I know that governments always target for a certain level of inflation and thus they will lose their purchasing power over time. That's why I only keep enough in my checking account for a couple months worth of expenses plus about 2-3 years worth of emergency savings with an understanding that I'll have to periodically reassess and top off these accounts.

I'll pass on Rubles considering how it fared against USD in recent history, but I never got into forex trading anyways.

 

[jtmat]

Crypto.was never and "investment" and never will be until it's FIAT haha in which case what's the point.

Better off to buy Rubles as the only commodity backed currency in the world.

Crypto is a speculative investment. You can go round and round on why "you" don't think it is a good investment. Your points would probably be sound and true... but it would not negate the fact crypto, if you like it or not, is an investment tool for some people.

That's why I only keep enough in my checking account for a couple months worth of expenses plus about 2-3 years worth of emergency savings with an understanding that I'll have to periodically reassess and top off these accounts.

That method should help you storm downturns in the market so you don't have to pull money out when things go south (if you are pulling from that money for retirement, for example). I do something similar but I build up money in preparation for the next downturn. I have a stable job so downturns don't impact me much.

 

[jtmat]

Speculation does not classify as investment. They are completely opposite. Gambling is speculation.

Regardless looks like the crypto scam is over u til the next tulip...which is Meta real estate LOL.

So says the person who said "I don't invest" when asked back in Dec/Jan on what you were investing in (in relation to oil)... now running around talking about your "wins" in investing. You seem mixed up.

I dunno... whatever you say. Meta real estate might make a great investment... you should get in early!

I'll leave you with it... I shouldn't have never responded to your post in the first place. Waste of time. lol

 

[Bull Run]

At seven year high now LOL.

Unfortunately I can't consistently time the market (I'd be multi-billionaire by now if I could) so I don't chase something just because of recent runups. Going back five-years, one ruble was $0.017 USD. Today it's showing as $0.018-0.019 USD. So if you count the inflation and opportunity cost, it's still a losing prospect to me, "LOL". Heck, I would've made more money sticking it in a 5-year CD than "investing" in rubles, without the risk.

But looks like you have Forex and market timing figured out so best of luck to you.

 

[Bull Run]

Speculation does not classify as investment. They are completely opposite. Gambling is speculation.

Regardless looks like the crypto scam is over u til the next tulip...which is Meta real estate LOL.

I share your personal sentiment about crypto being gambling, but there are a large number of folks who "invest" in it.

https://money.com/gen-z-millennials-invest-crypto-retirement/

Not sure if crypto's quite over yet. Crypto marketers are in full force now and they just need to find a next batch of fools investors put their money in to keep it going. Heck, even LUNA's still worth something being there are fools investors who are still willing to pay for it.

 

[HoosierDaddy]

Putting everything I have into my new startup.

Almost everyone hates targeted ads. My new search engine Asking-For-A-Friend.com solves that problem.

 

[Steelawin]

It's exciting to hear that you're putting everything into your new startup. Taking such bold steps can lead to great things. And it's true, targeted ads can be a bit bothersome for many people. Your search engine, Asking-For-A-Friend.com, sounds intriguing and could potentially offer a solution to that problem. Best of luck with your venture! By the way, have you checked out this link about Shiba Inu Coin? It goes beyond the hype and provides interesting insights: https://fbs.com/analytics/articles/shiba-inu-coin-more-than-just-hype-isnt-it-32820 Let me know if you need any other support or if there's anything else you'd like to discuss.

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