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Thread: Cryptocurrency
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03-24-2021, 02:47 PM #11
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03-24-2021, 03:12 PM #12
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03-24-2021, 04:19 PM #13
I don’t understand it....... AT ALL, so I won’t invest in it (at least not now). Having said that, my wife’s employer (a very large bank) had to jump in and get their arms around it. When you are handling estates worth hundred$ of million$, and there are large holdings in cryptocurrency, you’d better figure it out. I wonder if in some ways this will legitimize it?
Not that long ago I thought it was for kooks, but now the biggest banks in the country are working diligently on how to build platforms to manage cryptocurrency. You almost have to get on board or you are left behind.
.Last edited by xu82; 03-24-2021 at 04:34 PM.
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03-24-2021, 05:17 PM #14
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04-27-2021, 09:16 AM #15
Not sure about all this stuff.
But...Trevor Lawrence is going to take his signing bonus in cryptocurrency.
Good move?...he went up late, and I was already up there.
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04-27-2021, 09:53 AM #16
- Join Date
- Jan 2008
- Posts
- 2,994
"If our season was based on A-10 awards, there’d be a lot of empty space up in the rafters of the Cintas Center." - Chris Mack
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04-29-2021, 08:33 AM #17
Here's an interesting article about Lawrence and some of the reasons behind the rise in cryptocurrencies:
https://stream.org/trevor-lawrence-i...ies-heres-why/
Not sure how a little player like me can work crypto into my portfolio without getting burned.Veritas vos Liberabit
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04-29-2021, 09:44 AM #18
Anyone playing crypto must understand the key differences between investing and gambling.
The article mentions one of the key differences: INTRINSIC VALUE. A share of stock represents ownership in an entity that generates revenue. A simplistic way of looking at it is if you own 1 share of AAPL stock, you own a rivet in the assembly line that creates the iPhone. Without that rivet, the assembly line can’t function, iPhones can’t be manufactured and billions in revenues are lost. As the article points out, crypto has no intrinsic value. It’s worth exactly what we say it’s worth. Buying something with intrinsic value and believing that intrinsic value will increase is investing. Buying something without intrinsic value and hoping it will increase is gambling.
This second key difference between investing and gambling: STATED OBJECTIVE. The stated objective of a corporation is to make money. Thus, when you buy a share of stock, you’re buying into its stated objective. This is like buying a train ticket with the objective of getting to the top of the mountain. Maybe it breaks down along the way, but when you bought the ticket the track was already laid and the objective was clear. The stated objective of a currency is be money (not to make money). Buying crypto is like buying a sailboat with the objective of getting to the other side of the lake. The wind might blow you in the direction you want to go... but then again it might blow you in the opposite direction. Buying into something’s stated objective is investing. Buying something for reasons other than its stated objective is gambling.
This doesn’t mean you can’t make money gambling or lose money investing. It just means you should know the difference and act accordingly. Before buying it, start saying “I’d like to gamble in crypto” instead of “I’d like to invest in crypto” and see if that changes your mindset.
In the end, treat crypto like a night at the casino with friends. You’d never put your chips down at the roulette wheel and call it “investing.” Doesn’t mean you can’t make a lot of money doing it. Just don’t gamble with more than you can afford to lose.
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04-29-2021, 09:45 AM #19
Not sure why that posted twice, so disregard this message
Last edited by Blue Blooded-05; 04-29-2021 at 09:48 AM.
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04-29-2021, 10:18 AM #20
Is buying a ticket on the Streetcar, investing or gambling?
...he went up late, and I was already up there.
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