Boiler Room: The Official Stock Market Discussion

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old pig

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the bossman said:
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reposting this here bcuz it’s a great vid that speculates on what elon is up to...in a nutshell, he’s creating a problem that tesla can solve...if/when he does, it bodes well for tesla and for the BTC he’s owning...I dismissed it as him trolling but this is a genius move if the speculation is true...I’m already looking to throw what I can at IPOE...will also look at MARA/RIOT if it falls under $15 (shyt hopefully it even goes under $10)
 
Payday23

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Reign X said:
forget the currency part, that’s not its best use anymore. It’s an asset, that’s capped in production. It goes up in value every halving cycle, as mining rewards go down.

You can look at currencies around the world and see problems. Argentina, Nigeria, etc. All this printing will likely lead to devaluation. Dollar over longterm pretty much only goes down in terms of purchasing power. For last ten years, bitcoin has gone other direction. Scarcity is key. Short term it’s definitely volatile.

I’m not saying people should put life savings in bitcoin but owning 2-5%, is more responsible then owning 0 in my opinion.
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How does the environment play a part? Why would miners want to continue mining something that cause them to gain less rewards? With chip shortages, etc why wouldn't miners switch to other mining based coins?
 
phcitywarrior

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Reign X said:
bitcoin is more of a store of value now, digital gold. There’s a cap on how many bitcoins will ever be produced
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This. The currency part is a misnomer for Bitcoin. Just call it digital gold and call it a day. People buy gold as a hedge against inflation but lets be honest, what intrinsic value does gold have? Same thing with Bitcoin, it has value because we assign it value.

Tether is more of an actual currency.

dora_da_destroyer said:
aight, what's the best platform to buy crypto and which ones should i buy besides BTC - and how fast can i get my money out? i had 2g's sitting in an e-trade account to play with options but never did, so i might try crypto intead
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Coinbase is decent, Binance if you want more trading options.

I DCA with Bitcoin and Ethereum. ETH has some very very interesting use cases (smart contracts etc). I think some governments are looking to put some of their functions on the Ethereum block chain.

dora_da_destroyer said:
can't the same be said for BTC? one day it's at 63k USD the next 49k...like why would i want to be in such a volatile "currency"?
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Early stages of mass adoption. Over time it should stabilize.

Reign X said:
You can look at currencies around the world and see problems. Argentina, Nigeria, etc.

I’m not saying people should put life savings in bitcoin but owning 2-5%, is more responsible then owning 0 in my opinion.
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Yep. Nigeria as a nation had like the 3rd most bitcoin transactions after the US and China. People used Bitcoin to bypass the Central Bank’s official Naira to Dollar rate (which was much lower than the black market rate). I’d send money to folks in Bitcoin and they’d trade to Naira at a much better rate. The Central Bank eventually banned commercial banks from doing business with any crypto or risk losing their banking license.

Per asset allocation to Bitcoin, here’s a bit from Chamath that I found quite interesting.



Essentially he advocates allocating just a small percentage of your portfolio to Bitcoin. Kind of as a “what-if” since Bitcoin isn’t correlated (nor controlled) by the current financial system.

Eric Brooks said:
There won't be any sustained strength until inflation calms.. the report was terrible.
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Absolute basura.
 
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Reign X

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dora_da_destroyer said:
crypto is one of those things that make me see why old people get out of touch and couldn't care less that they are. i don't understand the shyt and don't have a desire to make myself understand it, next thing you know i'll be refusing to update the iOS on my phone :flabbynsick:
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I got extra time now since I’m not working currently. But ya, there’s so much to it. I’m most familiar with bitcoin due to ark and reading up on it. There’s people that know it way better then me.

as for these other coins, buying is a hassle on some of them, especially meme ones. Staking (pretty much like getting interest at 5% or more) and just how crypto’s work, there’s so much to know and for me to learn about. But some of it is tough, when I dig too deep.

Knew that Tesla and voyager bump this morning on nothing was too good to last. Just patiently waiting for this to all turn around.
 
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Reign X

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Payday23 said:
How does the environment play a part? Why would miners want to continue mining something that cause them to gain less rewards? With chip shortages, etc why wouldn't miners switch to other mining based coins?
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You can use better source of energy for environment if you want.

Rewards are less (less bitcoins) but the value of the bitcoins will likely be higher.
 
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