BitCoin
I don't disagree on your analysis. But you missed one point. We are about to see a very predictable and predicted plunge in world markets and crypto values. Just look at how the charts all fell like a rock in March 2020Quote: EvenBob11pm Bitcoin is $130 away from going below $30,000. The Dow plummeted over 700 points today. This is because world leaders completely bungled the covid-19 crisis by reopening the countries way too soon. I predicted this would happen. Once Bitcoin is into the $29,000's buckle up.
That very predictability is an advantage play for anyone who wants to go short, or just sell now, buy back later.
Unlike some, I'm not going to sit on my hands and keep saying 'Yes I knew that would happen' without acting on that foresight.
Quote: EvenBobUpdate, holy crap man. Bitcoin dipped to $25,000 a couple hours ago. Yeehaw
Except it didn't!
Yeeha..cough cough cough.
Schadenfraud!
"Here's why sounding the alarm when Tesla's holdings fall to breakeven or below is so important. It should alert investors to the damage should Bitcoin's price keep falling. If Bitcoin goes to $25,000, Tesla will suffer a $300 million hit to its earnings. If the price falls to $20,000, the loss rises to $500 million. That's about equal to all of Tesla's pre-tax income in Q1."
https://fortune.com/2021/07/20/bitcoin-price-btc-crash-tesla-gains-tsla-stock/
DEE-Lightful..
Quote: EvenBobAmid Bitcoin’s Crash, all of Tesla’s Gains have Vanished
"Here's why sounding the alarm when Tesla's holdings fall to breakeven or below is so important. It should alert investors to the damage should Bitcoin's price keep falling. If Bitcoin goes to $25,000, Tesla will suffer a $300 million hit to its earnings. If the price falls to $20,000, the loss rises to $500 million. That's about equal to all of Tesla's pre-tax income in Q1."
https://fortune.com/2021/07/20/bitcoin-price-btc-crash-tesla-gains-tsla-stock/
DEE-Lightful..
I have no idea who wrote that article but it makes little sense. Tesla owns some bitcoin. That has nothing to do with their earnings.
Quote: billryanI have no idea who wrote that article but it makes little sense. Tesla owns some bitcoin. That has nothing to do with their earnings.
EB believes Beanie Babies can take down Tesla
Quote: billryanI have no idea who wrote that article
Shawn Tully at Fortune. Click a link once in awhile. I'm sure you're much smarter from your days of living on the subway than anybody at Fortune Magazine. LOL
Quote: EvenBobShawn Tully at Fortune. Click a link once in awhile. I'm sure you're much smarter from your days of living on the subway than anybody at Fortune Magazine. LOL
Bill Ryan lived on the subway?
Quote: OnceDearI don't disagree on your analysis. But you missed one point. We are about to see a very predictable and predicted plunge in world markets and crypto values. Just look at how the charts all fell like a rock in March 2020
That very predictability is an advantage play for anyone who wants to go short, or just sell now, buy back later.
Unlike some, I'm not going to sit on my hands and keep saying 'Yes I knew that would happen' without acting on that foresight.
Perhaps some of us are comfortable enough that we don't need to constantly validate our self-worth by posting our winning lottery tickets and realize that making money during an all-time bull run is not a particularly challenging proposition. If my portfolio is up 36% for the year, does that make me smarter or more attuned to the market? If it were down, would it make me dumber?
Quote: OnceDearI don't disagree on your analysis. But you missed one point. We are about to see a very predictable and predicted plunge in world markets and crypto values. Just look at how the charts all fell like a rock in March 2020
That very predictability is an advantage play for anyone who wants to go short, or just sell now, buy back later.
Unlike some, I'm not going to sit on my hands and keep saying 'Yes I knew that would happen' without acting on that foresight.
The best thing about that chart is you could flip it upside down and get almost the same results.
Quote: EvenBobShawn Tully at Fortune. Click a link once in awhile. I'm sure you're much smarter from your days of living on the subway than anybody at Fortune Magazine. LOL
What do earnings and holdings have to do with each other?
BTW- I've never lived on a subway or pretended to. I did fall asleep on a Long Island Railroad train one Saturday night and end up some thirty miles past my station. but that's a tale for another day.
Quote: billryan
making money during an all-time bull run is not a particularly challenging proposition. If my portfolio is up 36% for the year, does that make me smarter
my portfolio has gone way up over many years by buying and holding index funds
other than that I've done nothing at all
.
𝐀𝐑𝐄 𝐘𝐎𝐔 𝐓𝐑𝐘𝐈𝐍𝐆 𝐓𝐎 𝐒𝐀𝐘 𝐓𝐇𝐀𝐓 𝐈'𝐌 𝐍𝐎𝐓 𝐀 𝐆𝐄𝐍𝐈𝐔𝐒.........................?...............................(~:/
.
Quote: lilredroostermy portfolio has gone way up over many years by buying and holding index funds
other than that I've done nothing at all
.
𝐀𝐑𝐄 𝐘𝐎𝐔 𝐓𝐑𝐘𝐈𝐍𝐆 𝐓𝐎 𝐒𝐀𝐘 𝐓𝐇𝐀𝐓 𝐈'𝐌 𝐍𝐎𝐓 𝐀 𝐆𝐄𝐍𝐈𝐔𝐒.........................?...............................(~:/
.
I've no idea if you are a genius or not, but not bragging about things you have little control over certainly puts you solidly on the path to enlightenment.
Lest you think I was bragging. That was a chart of the dow, not my net worth. My BTC holding is taking a bath, just like others here.Quote: billryanI've no idea if you are a genius or not, but not bragging about things you have little control over certainly puts you solidly on the path to enlightenment.
All I'm alluding to is what I see as history repeating itself comparing our international dire straits now compared to last March
$:o)
Quote: billryanWhat do earnings and holdings have to do with each other?
Your question is unintelligible for being so vague and I am not sure if you are clueless about GAAP or not.
I’ll start with this sentence and you can tell me if it hits concepts you have familiarity with: A flow is a change in stocks.
Too basic or too advanced?
Quote: darkozBill Ryan lived on the subway?
LOL I automatically assumed it was you and I was in a hurry. Sorry to insult him like that, being accused of living on a subway
Quote: billryanbitcoin= cash on hand. What does that have to do with earnings?
This statement indicates a lack of understanding of GAAP so I’ll assume my sentence was too advanced.
Let’s start with this: Bitcoin is not a cash equivalent under GAAP. Even assuming your statement was correct, things that are “cash on hand” need to be converted to the “reporting currency” under GAAP. So every quarter, the Bitcoin gets converted to dollars. That dollar change is a change in a stock that leads to a flow, either a gain or a loss.
Quote: OnceDearLest you think I was bragging. That was a chart of the dow, not my net worth. My BTC holding is taking a bath, just like others here.
All I'm alluding to is what I see as history repeating itself comparing our international dire straits now compared to last March
$:o)
Flip your chart and what would you see? On another forum, a self-made multi-millionaire is predicting a rubber band rebound to $43,000 by Labor Day.
Was reading about a bunch of investors who pledged $200,000 each towards building a condo on the island of Grenada. For some reason, their money was being held in bitcoin and the original $2.8 million is only worth $1.6 and they either have to make up the difference or default on the project. Surprisingly most of the younger investors were unfazed and the older ones were horrified.
I can't see such upside or much optimismQuote: billryanOn another forum, a self-made multi-millionaire is predicting a rubber band rebound to $43,000 by Labor Day.
Ouch Their funds might have done better placed on Red.Quote:Was reading about a bunch of investors who pledged $200,000 each towards building a condo on the island of Grenada. For some reason, their money was being held in bitcoin and the original $2.8 million is only worth $1.6 and they either have to make up the difference or default on the project. Surprisingly most of the younger investors were unfazed and the older ones were horrified.
So You thought it was Darkoz you were insulting? Thanks for clearing that up.Quote: EvenBobLOL I automatically assumed it was you and I was in a hurry. Sorry to insult him like that, being accused of living on a subway
3 days for personal insult. Whether anyone ever lived on a subway is moot.
I understand why Musk has turned “eh” on it.
And if you steal the electricity in Malaysia...Quote: TDVegasBitcoin mining is ridiculous. These players are setting up warehouses all over the world and siphoning energy. Way too much energy to run these computers 24/7.
I understand why Musk has turned “eh” on it.
https://deep-resonance.org/2021/07/16/over-1000-bitcoin-mining-machines-brutally-crushed-by-malaysian-police/
Quote: OnceDearSo You thought it was Darkoz you were insulting? Thanks for clearing that up.
3 days for personal insult. Whether anyone ever lived on a subway is moot.
I gotta disagree with you here. Strongly! The fact that DarkOz went from being essentially homeless to a now wealthy AP is a GREAT story for this forum. Mentioning his remarkable journey adds to the understanding of his huge success. His story trumps my ‘the rich doctor got richer by investing in stocks’ story every time. I think Darkoz is more proud of his beginnings, as opposed to being embarrassed about them.
That all being said, EB was trying to insult Darkoz, but failed. Whether that is a suspendable offense…. we will leave up to you!
Quote: SOOPOOI gotta disagree with you here. Strongly! The fact that DarkOz went from being essentially homeless to a now wealthy AP is a GREAT story for this forum. Mentioning his remarkable journey adds to the understanding of his huge success. His story trumps my ‘the rich doctor got richer by investing in stocks’ story every time. I think Darkoz is more proud of his beginnings, as opposed to being embarrassed about them.
That all being said, EB was trying to insult Darkoz, but failed. Whether that is a suspendable offense…. we will leave up to you!
His intentions were to be insulting.
It's no different than if someone who weighed 400 pounds managed to lose all his weight and be proud of it.
Someone who then says "well, you used to be a fat slob" is still being insulting
It was borderline, insulting or trolling of DarkOz, but EB had already had one warning today for a borderline offence. So a second warning would have been generous.Quote: SOOPOOThat all being said, EB was trying to insult Darkoz, but failed. Whether that is a suspendable offense…. we will leave up to you!
Do I get half credit?Quote: OnceDearIt was borderline, insulting or trolling of DarkOz, but EB had already had one warning today for a borderline offence. So a second warning would have been generous.
Quote: AxelWolfDo I get half credit?
Quote: OnceDear
Is that British humor or something?
Yes. Sometimes found in small retail stores or pubs (bars).Quote: unJonQuote: OnceDear
Is that British humor or something?
The more formal version is '... as refusal often offends'
Is that a yes or no?Quote: OnceDear
Anyway, I'm just glad to see someone grew a pair and made 2 red in 2 days...
Perhaps as a direct result of the BTC downturn.
😆
The European Union has just introduced legislation that would pretty much ban offline wallets, and of course, moving our BTC onto a registered exchange would/could be met with AML questions of origin.
https://cryptonews.com/news/european-commission-targets-crypto-wallets-and-citizens-priv-11142.htm
It's flawed legislation, but I believe the US is trying similar...
That they are even trying this, trying to insist on crypto being completely de-anonymised, will be a major, MAJOR blow to valuations. And I don't see any good news to counter that downward pressure.
You can have some of the credit. Was it only 2? I thought I'd been busier than that. Blame it on the BTC downturn, but more so on a current heatwave.Quote: AxelWolfIs that a yes or no?Quote: OnceDear
Anyway, I'm just glad to see someone grew a pair and made 2 red in 2 days...
Perhaps as a direct result of the BTC downturn.
😆
Quote: OnceDearMeanwhile, back to the topic....
The European Union has just introduced legislation that would pretty much ban offline wallets, and of course, moving our BTC onto a registered exchange would/could be met with AML questions of origin.
https://cryptonews.com/news/european-commission-targets-crypto-wallets-and-citizens-priv-11142.htm
It's flawed legislation, but I believe the US is trying similar...
That they are even trying this, trying to insist on crypto being completely de-anonymised, will be a major, MAJOR blow to valuations. And I don't see any good news to counter that downward pressure.
Are you suggesting that a failed economy like El Salvador adopting bitcoin isn't going to make us all millionaires?
are they trying to make cold/hard wallets illegal?Quote: OnceDearMeanwhile, back to the topic....
The European Union has just introduced legislation that would pretty much ban offline wallets, and of course, moving our BTC onto a registered exchange would/could be met with AML questions of origin.
https://cryptonews.com/news/european-commission-targets-crypto-wallets-and-citizens-priv-11142.htm
It's flawed legislation, but I believe the US is trying similar...
That they are even trying this, trying to insist on crypto being completely de-anonymised, will be a major, MAJOR blow to valuations. And I don't see any good news to counter that downward pressure.
"US", I thought you didn't own any BTC?Quote: billryanAre you suggesting that a failed economy like El Salvador adopting bitcoin isn't going to make us all millionaires?
Its already made lots of people millionaire's.
Looks insanely like they are. Though the journalism seems as shoddy as the proposal.Quote: AxelWolfare they trying to make cold/hard wallets illegal?
Quote: AxelWolf"US", I thought you didn't own any BTC?
Its already made lots of people millionaire's.
It sure has. The only problem is that many of today's crypto millionaires were crypto multi-millionaires a few months ago.
I don't own bitcoin personally, but several funds I'm in have up to 10% of my holdings in alternative investments that has some exposure to crypto-currencies. I wish they didn't but you have to take some bad with the good. I continue to think bitcoins future prospects are dim. I just don't see any "there" there.
There is a new app called Hypur that has managed to get around US banking laws so people can use cards to buy weed. If it doesn't get shut down, it will eventually allow Americans to see debit cards and checks for internet casinos. It will be easier and cheaper than bitcoin.
Quote: billryanbitcoin= cash on hand. What does that have to do with earnings?
You’re welcome.
Quote: unJonYou’re welcome.
It's not very often you hear GAAP and Tesla in the same sentence.
Quote: OnceDear
3 days for personal insult.
no sweat at all EB - piece of cake
diversity is still wide open for you - why you could easily get 700 posts in there by the time WOV has opened back up for you
and when back at WOV you'll be well on your way to another milestone - 30,000 posts - and you should hit it within a couple more weeks
All the best
.
LilRedRooster
certified member in good standing of the Marcus Clark Fan Club
anxiously awaiting trip report of his next big win
and the details of his bankroll zooming upwards as I gawk in amazement dreaming that I too could someday easily crush bacc
due to the power of the hit and run strategy
.
Quote: AhighSo I bought a couple of bitcoins today at the ridiculously high prices after all the news.
Just curious if anybody else has any stories of bitcoins.
Especially anybody who enjoyed the run-up on bitcoin values in the last few weeks. Curious who has had four figures or more in bitcoins that got a little boost lately from all the craziness.
Meh I missed my time.
1 Bitcoin equals
32,167.10 United States Dollar
Well, I can give EB a little bit of sick joy. I did not get 32k for the tranche I just unloaded.Quote: AxelWolfNo sick twisted Schadenfreude for anyone just yet with a big BTC crash.
1 Bitcoin equals
32,167.10 United States Dollar
I'm sorry, I dont understand, you sold off your BTC?Quote: OnceDearWell, I can give EB a little bit of sick joy. I did not get 32k for the tranche I just unloaded.
Quote: OnceDearWell, I can give EB a little bit of sick joy. I did not get 32k for the tranche I just unloaded.
🐠 🐟 🎣
I sold a modest fraction of my BTC holding at a low price. I made a reasonable cash profit compared to what I paid for them, but it was far from an optimal time to sell.Quote: AxelWolfI'm sorry, I dont understand, you sold off your BTC?
Coinbase shafted me on exchange rate and fees, too.
Cool use of extended character set. What does the message mean? No insult taken if it's some reference to me being some sort of caught fish.Quote: PokerGrinder🐠 🐟 🎣
Quote: OnceDearCool use of extended character set. What does the message mean? No insult taken if it's some reference to me being some sort of caught fish.
I’m calling you a fish lol. Look up fish in poker
