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  1. #2021
    Quote Originally Posted by bundabergdevil View Post
    That comment was Laissez-but-fair!
    The worst part of this thread is the demand for this type of behavior. That's why we are willing to supply it.

  2. #2022
    Traditionally, a very seasonally strong part of the year now. I heard the stat today that in years where the S&P is up 15% by the end of October, it has ended up greater than 20% 18 of 19 times. Another stat said that on average the S&P is up 4% from Nov. to Jan.

  3. #2023
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    I’ll just leave this here with a couple of quick thoughts added for consideration…

    Kentucky basketball team signings deal wit FTX crypto exchange.

    1) the entire crypto market cap is somewhere north of two trillion dollars now, and the potential is there to get to at least one hundred trillion dollars market cap within ten years. You’re not late to get in…if you do the homework on the assets.

    2)crypto market is growing twice as fast as internet adoption in the 90’s. On the cusp of world wide mass adoption and exponential growth.

    3) metaverse….multiple metaverse’s coming fast with all sorts of communities, games, monetized tokens. There will be large economies built within virtual communities.

  4. #2024
    I still think crypto is tulips...

  5. #2025
    Quote Originally Posted by niveklaen View Post
    I still think crypto is tulips...
    Same

  6. #2026
    Quote Originally Posted by niveklaen View Post
    I still think crypto is tulips...
    But how strongly do you believe that? Are you 99% sure it won't take off? 90% sure? If former, stay away. If the latter then it's probably a very good "high risk but potential massive payoff" investment for a small percentage of a portfolio.

  7. #2027
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by niveklaen View Post
    I still think crypto is tulips...
    You are not alone and it’s understandable. I was there once too. But then I did the deep dive and studied it all. For many, many hours.

    “Confusion creates negatively, doubt and denial” is a quote I’ve seen regarding those who have been slow to embrace this new digital asset and currency class. When you study it all, the confusion melts away.

    Consider this…would Facebook totally rebrand as Meta and plan to spend 10’s of billions of dollars on the equivalent of tulips?

    Would the Houston firefighters pension fund drop 25 million dollars into Bitcoin if they didn’t believe in Bitcoin as a store of value and a hedge against inflation for their members? (The first of many to come).

    Would wal-mart plan to add 8000 digital coin machines (ATM’s) on a lark?

    Would the US government, (SEC), approve a Bitcoin futures ETF on a “ponzie scheme” as many unfamiliar with crypto love to say.

    Guy’s, what’s happening is something we haven’t seen in our lifetime. A new, world wide, digital, asset class comparable to electricity’s introduction in the last century.

    Times are changing, fast.

  8. #2028
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    One more thing…not financial advice, just spitballing here.

    I know many here are around my age (63) or older and probably have a Roth IRA, so I want to share what I’ve done at itrustcapital.com with you guys that might have a little excess money to dip your toe in the crypto assets space in a way to not pay taxes on any gains.

    Go to iTrust and set up a Roth IRA with cash, or transfer some cash in from an existing Roth IRA. If you’ve had one for at least 5 years, there’s no capital gains tax on withdrawals.

    I think you are allowed to put in up to $7000 a year in a Roth. Check with a financial advisor on what you can do to be sure you don’t go over the maximum contribution level to avoid taxes or penalties on your withdrawals.

    Once there, you can buy a crypto asset, like Bitcoin, for a reasonable 1% fee. (Ex. $1000 worth of BTC would cost $10). There is also a 1% fee at time of withdrawal.
    If you’re 59 1/2 or older, and had a Roth for 5 years, you can withdraw any time with no taxes or penalties on your gains.

    Again, no capital gains tax this way, which is the best reason to setup a Roth in the first place.
    If you buy any crypto on an exchange you will have capital gains taxes, no matter your age, and applied once you sell.

    It’s working out great for me, so far. Two months ago I did a cash transfer from my existing Roth and bought Bitcoin, Solana, and Ethereum. Have not traded, just held. My current gain is 35% in just those two months, and September was a down month.
    There are other quality crypto assets available there too, but I’ve stuck with those three, for now.

    I set up this Roth with the goal of paying off my new boat from this account as it grows, while avoiding the capital gains i would have had if I sold what crypto I’ve bought on exchanges to pay it off.
    It’s well on the way to becoming reality, and fairly soon. I hope.

  9. #2029
    Quote Originally Posted by Wheat/"/"/" View Post

    I think you are allowed to put in up to $7000 a year in a Roth.
    Yes but only if you're 50+. Otherwise, it's $6k/year. (Of course, subject to direct contribution income restrictions as well.)

  10. #2030
    Quote Originally Posted by Wheat/"/"/" View Post
    You are not alone and it’s understandable. I was there once too. But then I did the deep dive and studied it all. For many, many hours.

    “Confusion creates negatively, doubt and denial” is a quote I’ve seen regarding those who have been slow to embrace this new digital asset and currency class. When you study it all, the confusion melts away.

    Consider this…would Facebook totally rebrand as Meta and plan to spend 10’s of billions of dollars on the equivalent of tulips?

    Would the Houston firefighters pension fund drop 25 million dollars into Bitcoin if they didn’t believe in Bitcoin as a store of value and a hedge against inflation for their members? (The first of many to come).

    Would wal-mart plan to add 8000 digital coin machines (ATM’s) on a lark?

    Would the US government, (SEC), approve a Bitcoin futures ETF on a “ponzie scheme” as many unfamiliar with crypto love to say.

    Guy’s, what’s happening is something we haven’t seen in our lifetime. A new, world wide, digital, asset class comparable to electricity’s introduction in the last century.

    Times are changing, fast.
    Yes. People and businesses make stupid decisions all the time. Facebook can afford the gamble. I can’t. I’d rather ride my 401 (k) and be secure in my retirement than try to gamble with my future. Now if I had a lot of cash laying around? Sure. But that’s how I see it….. Play/gamble money.

  11. #2031
    Quote Originally Posted by LasVegas View Post
    Yes. People and businesses make stupid decisions all the time. Facebook can afford the gamble. I can’t. I’d rather ride my 401 (k) and be secure in my retirement than try to gamble with my future. Now if I had a lot of cash laying around? Sure. But that’s how I see it….. Play/gamble money.
    The time to gamble was in 2013 when you could buy a bitcoin for $100 or so and dump $1k into it.

  12. #2032
    Quote Originally Posted by PackMan97 View Post
    The time to gamble was in 2013 when you could buy a bitcoin for $100 or so and dump $1k into it.
    Right. It’s a much more expensive gamble now to really make a ton of money off of but it’s still a gamble, IMO. It’s a risk I’m just not willing to take with my retirement money. Others may see it differently which is perfectly fine to me.

  13. #2033
    Join Date
    Nov 2020
    Location
    Western NC
    Quote Originally Posted by Wheat/"/"/" View Post

    Guy’s, what’s happening is something we haven’t seen in our lifetime. A new, world wide, digital, asset class comparable to electricity’s introduction in the last century.

    Times are changing, fast.
    Ah yes, "this time it's different..." Been investing since the 60s, and I've heard this refrain many times (1969, 2000, and 2008 come to mind) and in many different formats, usually with long term regrets. Sure, some people will make out well, but I've noticed that it is always the other person.

    Best of luck, I hope you are the "other person." I know just enough, however, to know that I am not that person.

    Section 15

  14. #2034
    In my experience the smart money puts very little money into flyers.

  15. #2035
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by Section 15 View Post
    Ah yes, "this time it's different..." Been investing since the 60s, and I've heard this refrain many times (1969, 2000, and 2008 come to mind) and in many different formats, usually with long term regrets. Sure, some people will make out well, but I've noticed that it is always the other person.

    Best of luck, I hope you are the "other person." I know just enough, however, to know that I am not that person.

    Section 15
    Everyone has to be comfortable with their own personal investment strategy, for sure.

    FWIW, I don’t think we are seeing a “this time is different” situation with regard to digital assets.More like a “this is new” situation?

    It’s undeniable that digital assets are here to stay at this point. It’s an almost 3 trillion dollar market capable to get to 200 trillion plus as mass adoption comes, and it’s coming. It’s still so very early. Suckerberg hasn’t even released Meta yet.

    Now the challenge is to pick the winners. My main personal strategy is investing in the digital infrastructure plays, like Bitcoin, Ethereum, Solana, Cardano, The Graph, etc..

    For fun, I’m starting to dip my toe into some gaming plays like Enjin, Axie Infinity, the Sandbox and Decentraland, too.
    I may even take a few hundred bucks and gamble on some of these new gaming coins that will be used in the multiple Metaverse communities that are under development. These are really risky because who knows what new game will become popular. But I’m doing the homework on who the developers are and what the games are about, along with what VC’s are backing them.
    Those will be really risky, but, there is the possibility of buying in early on a Metaverse virtual game that becomes something like Fortnight was on Facebook, attracting millions of players and capable of 100xing plus the investment?

    Anyways, there is a ton of “smart money” heading into digital assets. I’m following some of them them, and actually feel like I’m frontrunning the banks and institutions that are coming in late due to lack of previous regulations clarity holding them back. That clarity improves every day now and they are coming too.

    Good luck to all on your investments, whatever you choose.

  16. #2036
    Quote Originally Posted by Wheat/"/"/" View Post
    Everyone has to be comfortable with their own personal investment strategy, for sure.

    FWIW, I don’t think we are seeing a “this time is different” situation with regard to digital assets.More like a “this is new” situation?

    It’s undeniable that digital assets are here to stay at this point. It’s an almost 3 trillion dollar market capable to get to 200 trillion plus as mass adoption comes, and it’s coming. It’s still so very early. Suckerberg hasn’t even released Meta yet.

    Now the challenge is to pick the winners. My main personal strategy is investing in the digital infrastructure plays, like Bitcoin, Ethereum, Solana, Cardano, The Graph, etc..

    For fun, I’m starting to dip my toe into some gaming plays like Enjin, Axie Infinity, the Sandbox and Decentraland, too.
    I may even take a few hundred bucks and gamble on some of these new gaming coins that will be used in the multiple Metaverse communities that are under development. These are really risky because who knows what new game will become popular. But I’m doing the homework on who the developers are and what the games are about, along with what VC’s are backing them.
    Those will be really risky, but, there is the possibility of buying in early on a Metaverse virtual game that becomes something like Fortnight was on Facebook, attracting millions of players and capable of 100xing plus the investment?

    Anyways, there is a ton of “smart money” heading into digital assets. I’m following some of them them, and actually feel like I’m frontrunning the banks and institutions that are coming in late due to lack of previous regulations clarity holding them back. That clarity improves every day now and they are coming too.

    Good luck to all on your investments, whatever you choose.
    As someone who has worked in finance for 20+ years, I’m amazed at how dumb some of the “smart money” really is. I used to think some of these guys with billions under management must be real smart, etc, and then I met some of them. Yikes.

  17. #2037
    Quote Originally Posted by Wheat/"/"/" View Post
    Everyone has to be comfortable with their own personal investment strategy, for sure.

    FWIW, I don’t think we are seeing a “this time is different” situation with regard to digital assets.More like a “this is new” situation?

    It’s undeniable that digital assets are here to stay at this point. It’s an almost 3 trillion dollar market capable to get to 200 trillion plus as mass adoption comes, and it’s coming. It’s still so very early. Suckerberg hasn’t even released Meta yet.

    Now the challenge is to pick the winners. My main personal strategy is investing in the digital infrastructure plays, like Bitcoin, Ethereum, Solana, Cardano, The Graph, etc..
    the 200 trillion plus market cap is what gets me - NYSE has a market cap of less than 30 trillion.

  18. #2038
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by niveklaen View Post
    the 200 trillion plus market cap is what gets me - NYSE has a market cap of less than 30 trillion.
    Keep in mind digital assets are available worldwide. I was thinking more along the lines of the entire digital asset class was “capable” of reaching $200 trillion worldwide in market cap.
    I did find this chart below that shows a potential for bitcoin alone to reach $200 trillion in market cap. Take it with a grain of salt, as I do.
    FEB1CAD6-62AF-44B3-91FC-71CE15B33C77.jpg

  19. #2039
    Join Date
    Nov 2020
    Location
    Western NC
    Quote Originally Posted by Wheat/"/"/" View Post
    FWIW, I don’t think we are seeing a “this time is different” situation with regard to digital assets.More like a “this is new” situation?
    As they say, "same difference."

    I can't predict the future, but I remember the past. Again, I wish you luck.

    Section 15

  20. #2040
    My friends who believe crypto is the same as tulips think that because they saw one youtube video of charlie munger and warren buffett making the comparison, and they still don't know what crypto really is.

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