The Investment Thread

[Turfie]

Bitcoin making a mini run. Maybe tomorrow will be interesting.

 

[St. Geezy]

Bitcoin making a mini run. Maybe tomorrow will be interesting.

Pumping it to dump it eventually, again.

This isn't natural...

 

[Turfie]

Pumping it to dump it eventually, again.

This isn't natural...

I think Steve Cohen is a guy that is also behind this.

At this point though, I hope everyone knows crypto is a pump n dump scheme. But the masses are shielded from the info we know.

Edit: Tons of stocks are also orchestrated pump n dumps too.

 

[St. Geezy]

I think Steve Cohen is a guy that is also behind this.

At this point though, I hope everyone knows crypto is a pump n dump scheme. But the masses are shielded from the info we know.

Edit: Tons of stocks are also orchestrated pump n dumps too.

Agreed. There are definitely target securities used strictly as pump and dumps to solicit donations from retail, and I believe the crypto world is chief among them, especially since it gives them the ability to do their dumps in the middle of the night while people are sleeping.

My eyes are WIDE open!

 

[Kegger]

Crypto certainly has pump and dump short-term volatility, but I think the long-term trend will be very positive moving forward

 

[St. Geezy]

The predicted crypto walk-down has begun, even sooner than I expected. They usually wait until the middle of the night to pilfer people's money from them.

 

[Mr. Blue Sky]

The predicted crypto walk-down has begun, even sooner than I expected. They usually wait until the middle of the night to pilfer people's money from them.

I was not an economics major in school.. and god knows , my knowledge of the market is rudimentary at best.. but for the life of me, i cant figure out why crypto in general, isnt higher in value than it currently is.. there seem to be many, many of us who “believe” in it, and have put of money where our proverbial mouths are… i guess not enough folks with deep pockets have gone all in yet, but i expect that to change.

 

[St. Geezy]

I was not an economics major in school.. and god knows , my knowledge of the market is rudimentary at best.. but for the life of me, i cant figure out why crypto in general, isnt higher in value than it currently is.. there seem to be many, many of us who “believe” in it, and have put of money where our proverbial mouths are… i guess not enough folks with deep pockets have gone all in yet, but i expect that to change.

The first part of your post can be said for me as well, but I feel the opposite. I have no idea why it is as high as it is.

Well, I do have a theory, which has been alluded to many times on this thread, I should say.

 

[Turfie]

Lowest volume for GME in over 4 years. Crazy it’s so low on the NYSE but remains one of the most traded stocks in most other countries.

GME went even lower today. On a Monday.

 

[Turfie]

GME went even lower today. On a Monday.

Even lower today. 1,150,000. Insane. Illiquid. I cannot imagine what a forced 200+ million share buy order will do.

 

[St. Geezy]

Bitcoin is holding up a lot better than I expected this week, I must admit. I thought for sure we were set to see a massive dump, but it has gotten over $40k for the first time in a good while.

I just hope the retail people buying aren't being herded into a bull trap.

 

[Mr. Blue Sky]

Bitcoin is holding up a lot better than I expected this week, I must admit. I thought for sure we were set to see a massive dump, but it has gotten over $40k for the first time in a good while.

I just hope the retail people buying aren't being herded into a bull trap.

What’s with the pessimism ? Seriously, you mentioned in another post earlier that you disagreed with me about the future of crypto, where does that come from ? I’m not saying that one should walk around oblivious to what’s going on around them; quite the contrary.. but when so many signs are pointing to a bright future for crypto, certain NFL players taking all their salary in Bitcoin, Amazon starting to accept crypto and many other examples- why cant some people see it succeeding ?

 

[Arathrael]

What’s with the pessimism ? Seriously, you mentioned in another post earlier that you disagreed with me about the future of crypto, where does that come from ? I’m not saying that one should walk around oblivious to what’s going on around them; quite the contrary.. but when so many signs are pointing to a bright future for crypto, certain NFL players taking all their salary in Bitcoin, Amazon starting to accept crypto and many other examples- why cant some people see it succeeding ?

Amazon isn't starting to accept crypto, they're hiring someone to help them explore it. Not quite the same thing.

As for why pessimism, specifically regarding bitcoin, its value is currently largely driven by speculation, not utility, and in terms of utility, other cryptocurrencies and even non-cryptocurrency solutions are typically better suited to applications than bitcoin is. So it's two questions, whether that speculation is ultimately sustainable, and/or whether it can reach a point where its value is sustained by utility instead, even against competition from other cryptocurrencies and non-cryptocurrency solutions. And I can easily see why some people would take a more pessimistic stance on the outlook there.

 

[Turfie]

I have no problem with a standard short position. Think a stock has a bleak future? Fine go ahead and short it. A few months go on and you want to increase your short position? Be my guest.

But things like daily short laddering. Or failing to properly mark a short position needs to stop. I also don’t think securities should be eligible to short if that stock is already counterfeited to oblivion. For that matter, buying counterfeited stocks should be banned too. Funny enough counterfeit shares is illegal. But no enforcement exists.