Elon just stopped taking crypto as payment for Tesla cars.
His reasoning was that it’s not environmentally friendly but I think we know he doesn’t want to kill Tesla when it crashes.
Elon just stopped taking crypto as payment for Tesla cars.
His reasoning was that it’s not environmentally friendly but I think we know he doesn’t want to kill Tesla when it crashes.
Cryptos seem too risky to me, the volatility is off-putting. When (presumably) social media pumps up dogecoin and I see every other unschooled investor jumping in and pumping up a "joke" cryptocurrency, it has the smell of "fad" to me and I don't want to be caught up in its "fade" when that time comes.
I have what I think is a solid, long-term portfolio, but half of it is bleeding badly right now. I'm in the mood to buy, double down on some stuff, and not to sell at a loss. Can't bring myself to entertain buying dogecoin, especially now.
Elon’s statement on Bitcoin:
Attachment 846837
One thing that could hype doge coin is if Elon takes doge coin as payment. He could start taking the coins as payment and then hype the crap of it. It could 5x quickly.
He very well might be doing that. Here are a couple of his most recent statements on Doge. I totally bought in when he first started pumping it up and then it hit a huge spike. I’m looking at it like a bet on the casino floor in Vegas. If I lose I lose but all its done since I bought in is earn so far.Originally Posted by Dallasfan
Attachment 846960
Attachment 846962
I've dabbled in several cryptos with play money since 2017 and had good returns. I view the money I've put into crypto like I would view gambling money for Vegas, no fuss if lost and lucky if won. I have no crypto in my 401k, IRA, Roth and SERP accounts and likely won't even if available.
On a side note, my sister had been dabbling in purchasing homes and leasing them out for several years now. Since February she has been selling off her portfolio and have been making a significant profit due to the DFW real estate market being very hot right now.
so how does one get dogecoins? not by using computer mining?
it's always afternoon!!
have fun out there.
dont let the negatives get you down.
a lot of you dont know what the fuck you are talking about and you are going to get a people in financial trouble acting like you do
Does anyone remember what happened to: Confederate Currency, Gold Coins, Silver Certificates? The next candidates are?
okay .... so how about you briefly explain it to us and/or point us to articles like "dogecoin for dummies" ??
it's always afternoon!!
have fun out there.
dont let the negatives get you down.
Okay. Bernie Madoff held securities as well. No one regulates crypto. The SEC doesn't regulate Coinbase. The SEC can enforce accounting rules and other business of Coinbase but there is no regulation of Coinbase other than it being registered as a publicly traded company.
Do you know how the companies account for Bitcoin and other crypto currencies on their balance sheets? I've met Cathie Wood and if you want to put your money with her good for you but you should be prepared to lose your investment.
Personally, I have made good gains on the volatility, but dogecoin isn’t something I got into. I make my money on watching charts and making fast trades. That’s one thing about being in crypto, holding can be beneficial of course, like stocks, but highly volatile coins can be traded up and down constantly. With learning to monitor the patterns on the 20 something alt coins I follow, I’ve tripled my actual buy in since October. It’s not for everyone and it’s not easy. It requires a LOT of attention, more than stocks since its 24/7, but the amount of work I’ve put into it directly translates to my earnings. I don’t jump on fad coins because by the time they ARE a fad, they are about to start to drop. I usually buy, wait for 10-20% increase and then sell and wait for it to drop again. The coin itself doesn’t matter so much as long as you can guess when to get in on it.
That said, I play a very very high risk game with my coins and that is NOT for everyone. As you said, the volatility isn’t your thing. I’m just explaining how someone like myself can use it to my advantage without getting pulled into the fads.
Also as soon as I had doubled my original investment, I pulled out every penny I’d put in, so now even if my assets in coins completely drop to zero, I’ve lost nothing. I think that was a really good choice to help with not stressing. Doubling everything only took about 3 months give or take, and that’s with checking my charts 5-10 times a day for five minutes each and making a trade or two each day usually. Maybe an hour a day I spend on it or less?
Edited to add: crypto allows me to be a day trader without the mandatory investment that stock day trading requires. That was very important to me.
Honestly it doesn't matter that Coinbase is regulated by the SEC because everyone's main concern is the volatility of the investments (coins). All firms/companies selling investment products regardless of type will be regulated by the SEC and FINRA. FiNRA is actually very good at policing investment firms (broker dealers) and their employees (brokers) regarding customer complaints. For example, if you are considering a financial planner/wealth manager, you can go onto FINRA's website and see if that person had any historical complains/settlements with clients and the same for the investment firm they work for. Like I said before, I hope anyone investing in coins use expendable income they can take a risk on.
I understand something about your game, that game is tempting but not attractive to me because I don’t have time for it. I have other time consuming interests like making music. My portfolio is being built for the long term (4-5 years minimum) and fairly low risk.
Oh yes, I get that. I have long term investments set up in actual stock because I have more long term faith in stocks than crypto. But my long term portfolio is in the form of 401ks, and I don’t think I’d ever add crypto to that.
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