patrick.net

Newbie123 says

Look into storing your crypto on your own hard wallet. It’s basically a cold storage that nobody can touch.

This is how Bitcoin Billionaires store their stash:
To protect their bitcoin holdings, the brothers distributed snippets of a printout of their private keys across multiple safe deposits around the United States. This ensured that even if thieves got their hands on a fragment of the private key, the others would still be outside their reach.

EBGuy says

This is how Bitcoin Billionaires store their stash:
To protect their bitcoin holdings, the brothers distributed snippets of a printout of their private keys across multiple safe deposits around the United States. This ensured that even if thieves got their hands on a fragment of the private key, the others would still be outside their reach.

Meaning that one of the oft-touted benefit of crypto - quick access to your money and good liquidity - is effective neutered by this move. Also being tied to physical bank locations is not very good move for mobility and anonymity.

In the future will be the right time to buy when everything tanks and goes on sale. Patience will pay off. Guessing bottom is a year out?

@patrick Options is not that difficult and the risks are low. For example this works in your favor you can sell a put on a company you're eying and you know the intrinsic value/what you want to pay and just collect a premium and who knows maybe you'll get put the shares you wanted to buy in the first place.

Newbie123 says

I have zero interested in quick access.

Meaning that if the shit tanks you'll be not able to dump it on the way down and will be left holding the bag. Which is stupid.

This is crazy. Tesla continues to squeeze the shorts. I've never bought a Put Option in my life, but am tempted to give it a try at this point.

EBGuy says

This is crazy. Tesla continues to squeeze the shorts. I've never bought a Put Option in my life, but am tempted to give it a try at this point.

Huh, maybe that can be my revenge for missing out on the rise from 1000 to 1500. My risk is only the premium.

mich says

Options is not that difficult and the risks are low. For example this works in your favor you can sell a put on a company you're eying and you know the intrinsic value/what you want to pay and just collect a premium and who knows maybe you'll get put the shares you wanted to buy in the first place.

But then you have to keep the cash on hand for the life of the option and be ready to buy if they exercise the put. Not a big risk, but an inconvenience.

Patrick says

Huh, maybe that can be my revenge for missing out on the rise from 1000 to 1500. My risk is only the premium.

Tesla's market cap is now more than Toyota, GM, Ford and Chrysler/Fiat combined. Tempted to short 100 shares outright just for the thrill of it. Tesla's stock price at the beginning of the year was $1000 dollars lower....

Newbie123 says

I want to accumulate more, not sell or spend it

HODL2Z

I'm up 125K in the past 3 months in stocks. Plus 500K in my house over the past 6 years. Let me tell you boys, doom may sell, but it doesn't appreciate.

Asterisks, it all paper gains. Double jinks.

Newbie123 says

Bitcoin is at around 9k right now.

I am still amazed that the market cap of bitcoin, a virtual collection of 0s and 1s, is larger than that of all of the investible silver in the world. I think part of the reason for this is that many youngsters have never lived in a time where currency was not fiat.

Remember, if you don't know who the fool is it might be you.

Newbie123 says

I guess you have to have stupid market participants in order to make more money.

The greater fool theory.

Onvacation says

Newbie123 says

I guess you have to have stupid market participants in order to make more money.

The greater fool theory.

Awww hell, when I hit enter I remembered the tulip kid and wondered if he'd pipe up. I guess I have him on ignore as I saw his posts when I wasn't logged in earlier today but not now.

I'm not looking at crypto as any sort of investment to make money or get rich. This is a sub-1% net worth start if I even buy any as INSURANCE to protect me from "I'm Republican but...", fuckers and worse who I think stand a good chance at seriously screwing the country up much worse than we've seen lately. I'm not buying at 9K hell no. But I have it funded if we get another downturn.

When that happens I expect it'll drop again for people needing to sell for other reasons. Margin call etc.,

Mainly I want a bit of gold/silver more along the lines of 5% but that's less liquid (Really 15% but that's longer term) and slower to get so I'm adding this for flexibility. Might be easier to move out of the country if I decide to as well.

I'm not buying that right now either but will on a pull back.

Imagine Biden winning and AOC as his VP. That type of insurance. I want to be able to escalate as appropriate.

Obviously air-gaped but I need to read up on hard wallets. My assumption is that you can get one of these flash drives with some sort of EMP protection but who the fuck knows.

And Kraken, not fucking around on a phone with Binance.US. No other coins just bitcorn.

Jesus H. Christ. Lawdy lawdy! Cash is still King right now. I'll be backing up the truck on a variety of money making investments when the time comes. Not those.

The following have been good to me:

TSLA
AMZN
PYPL
ZM
SHOP
ADBE
RDFN
NIO
AAPL

Crashes historically have come in March and September/October.

I am hearing that 1 in 6 renters and 1 in 3 mortgage holders have stopped making payments. In NV, moratoriums end in September. I've also heard that some of the employment bailout (feds paying companies $$billions to keep employees on payroll) ends in September.

We've never seen anything like this. How bad will Oct get? We shall soon find out

Newbie123 says

Lol fuckin lol. I thought only wookieman is that stupid but now we have a second one. Eric holder: “when it tanks, sell!” Unbelievable....

You put someone on ignore and then post shit like this... now that's actually funny. Not sure I've seen some little boy so scared of the truth.... I should mark this personal, but I'm not that petty... Cowards run from the truth and they're easy to spot.

CBOEtrader says

I am hearing that 1 in 6 renters and 1 in 3 mortgage holders have stopped making payments.

I still can't fathom this. Not saying you're wrong, there's a small segment of the workforce that can't pay for sure, but 33%? WTF are people doing with the free money they received and extra UE benefits if they lost their job? You can't cruise, you can't travel to a foreign country for the most part. Are car sales up? Until the start of August, 95% of the population should have had no problem paying the mortgage.

My concern is that there's a segment of society that has had a foreclosure or short sale from 2008 and feel it's not that big of a deal to let it go after doing it then. Most were made whole credit wise by 2016-17 and may have bought again by now. They just figure they can rent and rebuild their credit again, live mortgage free for 1-2 years while hoarding the cash they saved. I knew plenty of people (through work) that did this during the last crash and would do it again.

WookieMan says

WTF are people doing with the free money they received and extra UE benefits if they lost their job?

Buying bitcoins, bwahahahaha.

@Patrick - I don't have any active users on ignore, so I wouldn't know. But if you @ a user that has you on ignore, will they get notification of it still?

WookieMan says

Cowards run from the truth and they're easy to spot.

But Newbi is an "investor".

Hold On for Dear Life to Zero! HODLZ

HODL meaning, essentially means; “Hold on for dear life”. This roughly translates as the "HODLER" believing their coin to be profitable one day and will sit back and never lose coins due to botched trades. If the value of cryptocurrencies increases significantly in the years ahead, it can be worth it to hold onto the crypto as if it were a treasure-trove.

At the end of the scam you got a flashdrive with 0s and 1s.

mich says

Options is not that difficult and the risks are low. For example this works in your favor you can sell a put on a company you're eying and you know the intrinsic value/what you want to pay and just collect a premium and who knows maybe you'll get put the shares you wanted to buy in the first place.

Risks are not low selling puts. When the 1000 $40 puts you sold on American Airlines gets called, and American Airlines is trading at $20 because of something that could not have been predicted like corona, you’ll need to come up with $20K immediately, which probably means selling in a down market.

Selling of puts is one reason why people sell into a down market. It’s not that they want to, everyone knows the market will come back, they are forced to because of the dumb puts.

And for what benefit? An extra 1% return? Not worth the risk imo

This is my current approach, I am personally not touching crypto here and now and dont really suggest it for anyone else unless you think the stock market is going to chase new highs. There is considerable relative correlation taking place between crypto/indexes. https://invst.ly/ret-c Darker blue SP500 the lighter BTC.

For now I think it would be a good time to set some portion of a persons portfolio to invest in some crypto similar positions as xau xag. As a US citizen I use Coinbase Pro and am flat atm with funds sitting in wait. I have a BCVault wallet stay away from paper wallets ;) Keep in mind when BTC crashes most all the others follow so I would highly consider ETH and XRP as base crypto to hold since they have the larger vol/caps. Fundamentally there has been a move for several main stream gurus talking about owning Cyypto so as things roll forward and the real stock market shows it's true face, correlation indicates a good size pullback which "mean" level 6500+/- seems reasonable to me. Technically speaking BTC faces a triple top with very little pull back power after 2+moths of consolidation to pop it through so I see some sort of repeat of March on the way with the possible creation of some sort of an inverted H&S. https://invst.ly/reuif Although I am hopeful for 6500 I will be testing buys near fib levels. I dont actually use fibs much but thought it would illustrate my current view of crypto best.

1 other consideration to my analysis is the USD DX 96.300+/- is phenomenally strong and I am anticipating DX to test higher not lower while crypto and the indexes take a needed break and test considerably lower 20-30% lower. I am looking to be buying USD/MXN if things go accordingly as a bad ass inverse to equities.

If you think Tesla is overvalued right now, buy puts, don’t sell them.

Selling puts your upside is fixed but your downside is huge. Buying puts, you only lose the cost of the put, so your downside is fixed, but your upside is huge.

If Tesla has a huge drop, cash in your puts and buy Tesla if you still want it. If it doesn’t, then you only lose what you paid for the puts.

It’s far less risky, but I think psychologically people don’t like to do it, which is probably another reason to do it.

Full disclosure, I don’t do any of that crap. Just buy index funds and hold them. You are guaranteed to get the average return of the market and the average return of the is better then what 80% of investors make.

WookieMan says

My concern is that there's a segment of society that has had a foreclosure or short sale from 2008 and feel it's not that big of a deal to let it go after doing it then.

Absolutely. It’s funny when you think about it. These are all Federally guaranteed loans, so nobody actually lost any money on the deal. The feds paid the bank and just printed some more cash.

As “punishment” for making the government print cash, they put you in credit jail for a few years.

Rinse, repeat, print more money. Meanwhile I can’t get 1% in a savings account.

WookieMan says

Are car sales up?

I spoke with a client who runs a pool business. She says she gets more inbound free inquiries per weekend totaling more leads than she used to receive all month.

Yeah i wonder how many of those not paying their mortgage cant vs simply arent because the moratorium allows them to keep the cash for 2 more months.

4 months ago none of the phenomenons existed, which are in turn creating these bizarre stats. I expect a stock crash in October, but its definitely largely speculative. We really dont know what any of this means.

Amazon, tsla on fire, is this 1999? Again

I acknowledge the strong performance of tech stocks during this crisis. Tech companies like Amazon have absolutely cleaned up as they displace Brick and mortar stores in unheard of frequency.

The crash is still coming though. It might hold off until September, but it might also start earlier. Like I said, I gave you all early warning.

ignoreme says

Full disclosure, I don’t do any of that crap. Just buy index funds and hold them. You are guaranteed to get the average return of the market and the average return of the is better then what 80% of investors make.

You should pay an A$$visor 1.5% per annum to give you advise that good. Factor in another .25% to ES management...

This is how many seniors only net 3% per year and go broke into crashes

Shaman says

I acknowledge the strong performance of tech stocks during this crisis. Tech companies like Amazon have absolutely cleaned up as they displace Brick and mortar stores in unheard of frequency.

The crash is still coming though. It might hold off until September, but it might also start earlier. Like I said, I gave you all early warning.

I agree on tech stocks, but not on a total market crash. Tech and parts of the Nasdaq are due for a correction. You can move to defensive sectors, literally defense, agriculture, fertilizer, biotech etc. TSLA is especially interesting, it can run some more, but the competition has been heating up fiercely, it will be interesting to compare car sales once Covid clears. Also note that AMZN doesn't make money from delivery, only from cloud and other services. If cloud revenue goes down, AMZN will post a loss and Bezos even hinted at that. However nothing is certain except for the current tech bubble ;)

I’m not worried about the stock market now, but I will in a few years when I am a geezer.
By then I can arrange my investments to income more than capital appreciation.
A while ago before the virus, I bought some Roku, Alibaba, and John Deere. All are doing fine.
Recently I was annoyed about taxes and what they are doing with our money.
Maybe I shouldn’t worry.
1. I pay taxes to US Treasury
2. Free money goes out “stimulus checks”
3. People buy more shit at the Apple store
4. Apple pays me a dividend
5. The cycle is complete

CBOEtrader says

4 months ago none of the phenomenons existed, which are in turn creating these bizarre stats. I expect a stock crash in October, but its definitely largely speculative. We really dont know what any of this means.

I'm just wondering WTF people are spending their money on. Until recently, there was little to nothing to buy/do besides a car, groceries or Amazon from March until mid June. Our bank account has grown substantially since this BS started. That's without any stimulus or a job loss bonus... lol. Outside of high COL areas, there's really no reason anyone should be missing payments on most things. Especially housing. 1+1 is equaling 3 right now.

I think there's gaming of the system by individuals, but I still don't understand why. Are we becoming that big of a douche bag?

ignoreme says

Rinse, repeat, print more money. Meanwhile I can’t get 1% in a savings account.

www.digit.co

FDIC insured and 1% interest. At least that's my current rate. Monthly fee of $2.99 I believe, but if you're putting $20k plus in there the fee is negligible and probably still getting 0.95% interest roughly.

It's also how we budget for vacations or big expenses while getting a tiny amount of interest. You can set a dollar amount goal and date. It just automatically withdraws from any checking or other savings account towards that savings goal and tries to reach it by the date you set. Has made our trips less stressful because 97% of everything has been paid and accounted for. No guilt.

I have referral links that would pay me, but I'm not a cunt. So go check it out on your own if interested. I so despise referral marketing to make a buck on others. Feels shady.

WookieMan says

I'm just wondering WTF people are spending their money on. Until recently, there was little to nothing to buy/do besides a car, groceries or Amazon from March until mid June. Our bank account has grown substantially since this BS started. That's without any stimulus or a job loss bonus... lol. Outside of high COL areas, there's really no reason anyone should be missing payments on most things. Especially housing. 1+1 is equaling 3 right now.

I think there's gaming of the system by individuals, but I still don't understand why. Are we becoming that big of a douche bag?

If you lost your job due to Covid-19 you can't pay rent or mortgage - sure there will be plenty of gaming and pretending as well but that's the reality for many. Also many will simply stop paying rent and claiming Covid-19 damages in case they will lose their job later. Doesn't surprise me.

Patrick says

mich says

Options is not that difficult and the risks are low. For example this works in your favor you can sell a put on a company you're eying and you know the intrinsic value/what you want to pay and just collect a premium and who knows maybe you'll get put the shares you wanted to buy in the first place.

But then you have to keep the cash on hand for the life of the option and be ready to buy if they exercise the put. Not a big risk, but an inconvenience.

Not to mention you're buying a company that just fell in value. Why did it fall in value? Was it a small fall, due to reasons you don't think are very negative / serious, or was it a larger fall, due to seriously bad news?

Well, you bought it anyway, before you had a chance to decide whether or not you still want to own it.

That's the point of a put - people buy them so the risk falls to the put writer, not the buyer.

I'm not saying it cant work out in your favor, I'm just expressing doubt of it as an effective general strategy.

EBGuy says

Tesla's market cap is now more than Toyota, GM, Ford and Chrysler/Fiat combined. Tempted to short 100 shares outright just for the thrill of it. Tesla's stock price at the beginning of the year was $1000 dollars lower....

Ya it's been amazing to watch. I want to short too, but the forces behind this momentum are strong, and I might wait until it goes a little higher before shorting, if I do at all.

I heard TSLA is about to get listed on the s&p, which should boost their stock price as many index funds and etfs suddenly add to the demand. I think if they make profit next earnings, they will qualify for the s&p, so this change is soon.

I feel like there's tens of thousands of silicon valley foot soldiers who take $1000 - 5000 of each coding paycheck and plow it into TSLA, causing this craziness that keeps squeezing the shorts.

Newbie123 says

Dholliday126 says

I'm up 125K in the past 3 months in stocks. Plus 500K in my house over the past 6 years. Let me tell you boys, doom may sell, but it doesn't appreciate.

Asterisks, it all paper gains. Double jinks.

Niiice! Congrats!! Maybe you have mentioned it already....which stocks did you mainly buy?

Tech stocks?

OMG I just wrote this super long response and then hit the back button and erased it. So I'll try to sum.

I leave it up to my stock guy. He believes one must be 90% vested in a basket of 40 stocks. Inflation is a 8% so you gotta shoot for 15% returns. The only way to get that is tech and tech ipo. Big Motley Fool fan, pays for a lot of their research. He had me in fangs, shopify, zoom, stichfix, peleton, datadog.. basically crazy unicorns I would never do on my own. His biggest position is apple. My personal portfolio of ExxonMobil, att, and dividend stock have gone no where. I am too risk adverse to personally handle my own portfolio with those kind of tech stocks, but he does. Literally up 30ish percent, but like I said, paper gains, so whose knows in the long run.

mell says

WookieMan says

I'm just wondering WTF people are spending their money on. Until recently, there was little to nothing to buy/do besides a car, groceries or Amazon from March until mid June. Our bank account has grown substantially since this BS started. That's without any stimulus or a job loss bonus... lol. Outside of high COL areas, there's really no reason anyone should be missing payments on most things. Especially housing. 1+1 is equaling 3 right now.

I think there's gaming of the system by individuals, but I still don't understand why. Are we becoming that big of a douche bag?

If you lost your job due to Covid-19 you can't pay rent or mortgage - sure there will be plenty of gaming and pretending as well but that's the reality for many. Also many will simply stop paying rent and claiming Covid-19 damages in case they will lose their job later. Doesn't surprise me.

In NV residents have until Sep 1 to repay any unpaid rent. I suppose that means mid Sep landlords can file evictions.

Wtf happens when 1/8th the city is in eviction court?

Dholliday126 says

Newbie123 says

Dholliday126 says

I'm up 125K in the past 3 months in stocks. Plus 500K in my house over the past 6 years. Let me tell you boys, doom may sell, but it doesn't appreciate.

Asterisks, it all paper gains. Double jinks.

Niiice! Congrats!! Maybe you have mentioned it already....which stocks did you mainly buy?

Tech stocks?

OMG I just wrote this super long response and then hit the back button and erased it. So I'll try to sum.

I leave it up to my stock guy. He believes one must be 90% vested in a basket of 40 stocks. Inflation is a 8% so you gotta shoot for 15% returns. The only way to get that is tech and tech ipo. Big Motley Fool fan, pays for a lot of their research. He had me in fangs, shopify, zoom, stichfix, peleton, datadog.. basically crazy unicorns I would never do o...

I'd take some gains here as tech / faang is definitely overvalued. PTON needs to show they can become profitable, so far they have a bike and a treadmill - ok they tack on the subscriptions onto that which are the real money makers, but they are far away from profitability. I don't know how long nflx can show the same revenue growth with all the competition entering. AAPL has always been solid and is probably the safest, but I'd wait for the Q2 earnings before investing more or sell some before Q2 earnings if you have a lot. All these tech trannies are priced for major earnings gains and can easily disappoint. This is not a generally bearish market outlook, but tech has gotten ahead of itself just a little.

The Left REALLY needs a White cop to kill a Black man. Time is a-wastin'

mell says

I'd take some gains here as tech / faang is definitely overvalued. PTON needs to show they can become profitable, so far they have a bike and a treadmill - ok they tack on the subscriptions onto that which are the real money makers, but they are far away from profitability. I don't know how long nflx can show the same revenue growth with all the competition entering. AAPL has always been solid and is probably the safest, but I'd wait for the Q2 earnings before investing more or sell some before Q2 earnings if you have a lot. All these tech trannies are priced for major earnings gains and can easily disappoint. This is not a generally bearish market outlook, but tech has gotten ahead of itself just a little.

Excellent analysis and a great example why you should just buy index funds because nobody actually knows wtf pelleton, Netflix, or Apple are going to do next.

I know with 100% certainty when I buy an index fund that I will get the average market return. That’s a minor miracle that I think everyone should stop and appreciate. With 0 research, thought, or planning I can by mathematical definition beat 50% of investors. Except that us monkeys are such flawed mental patients that actually index funds will beat the performance of 80% of investors.

Think about it like this. If you buy a share of Apple you do so because you think that the future dividends and appreciation make it a good investment. But you are buying from someone else who is selling it because they think it is a bad investment at that price.

I’m not so prideful to think that I’m the more informed investor in even 50% of those transactions, and anyone that can consistently “win” at stock picking will soon be so deluged with investor dollars that their portfolios will look like index funds that you pay 1%+ of aum for the privilege of owning.

Congrats on buying tech stocks though. That works until it doesn’t.