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      05-28-2021, 09:49 PM   #771
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Quote:
Originally Posted by jmg View Post
If you are equating crypto to cryptocurrency then that is not how I understand it. I believe you have it backwards.

The core function/part of blockchain is the distributed/decentralized ledger. Cryptocurrency is merely one thing that blockchain can keep record of. You can track contracts, parts, policies, inventory, goods... and currency among many other things. That's why it's so useful. You don't need cryptocurrency to run these blockchains, you need blockchains to track cryptocurrency.




I understand and agree with most of this. I think this is what I am failing to communicate properly. I'm not skeptical of the idea of currency managed by blockchain, I'm skeptical of currency who's value is largely set by speculation like bitcoin. There is a reason government regulated fiat is more stable and more desirable. Inflation is predictable and even controlled. The value fluctuations due to the economy. It's much more difficult to pump and dump or manipulate fiat due to oversight from the government. But let me be clear, that doesn't mean cryptocurrency will forever be useless outside of speculation.




I never said it wasn't going to amount to anything in the future. You are grouping me with the original poster you were replying to. I wasn't replying to your post because I agree with who you were replying to. I was adding to the conversation. Yes, I agree, in the future there might be a solution that involves cryptocurrency. But right now, I'm skeptical of its value because it is so volatile. I'm sure we will find a way to use it as currency eventually... and not to open a can of worms, but I truly believe that the only way cryptocurrency can be viable is by eliminating fiat entirely. Like I stated earlier, conversion from crypto to fiat post transaction is necessary because of local reliance on local currency and the relative stability they have. Who is going to hold on to $55k in bitcoin when it's going to dip to $35k in a few weeks?! Business risk their profit margins if they only deal in cryptocurrency. Herein lies a paradox: I don't think fiat money is going anywhere soon, and I don't think cryptocurrency will evolve unless they do. Eventually, even speculation will end end of fiat becomes hazier. It will take a world level event to get rid of fiat. Almost something like the Euro. One only has to study the Euro to see how complicated that will be.
When I say crypto I just mean cryptocurrencies for short. I know cryptography is the function in which these blockchains/ledgers are made/established/run on.

POW blockchains need the coin to power the network/incentivize the miners to mine and perform the transactions on the network. Ethereum needs ETH to provide "gas" for the network, same with BTC. You're right though, coins aren't necessarily needed for blockchains/ledgers to work, but some ledgers are made to take use of coins/token to get the intended specific use out of them.

I think we agree on a lot, we just misunderstood each other at first, and I did think you were going along with the original quoted person, sorry. I agree with a lot of what you are saying. I'm not sure how it will all actually work out in the end in the long run, but all I know is I'm not missing out on the opportunity to make life changing money.
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      05-29-2021, 10:46 AM   #772
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Quote:
Originally Posted by IllSic_Design View Post
When I say crypto I just mean cryptocurrencies for short. I know cryptography is the function in which these blockchains/ledgers are made/established/run on.

POW blockchains need the coin to power the network/incentivize the miners to mine and perform the transactions on the network. Ethereum needs ETH to provide "gas" for the network, same with BTC. You're right though, coins aren't necessarily needed for blockchains/ledgers to work, but some ledgers are made to take use of coins/token to get the intended specific use out of them.

I think we agree on a lot, we just misunderstood each other at first, and I did think you were going along with the original quoted person, sorry. I agree with a lot of what you are saying. I'm not sure how it will all actually work out in the end in the long run, but all I know is I'm not missing out on the opportunity to make life changing money.
Major crypto holders are currently speculators and criminals (ransomware). I think you don't belong in either of those categories because you seem to really believe in crypto. And that's great!

But here I see you mentioning "life changing money". Since you're a true believer in crypto, you wouldn't dare exchange that back into traditional currency. Because that would make you fall back into the speculator group.

So how will holding onto crypto long-term eventually turn into "life changing money?" I assume you'll hope to eventually purchase a home with Bitcoin? Or pay off student loans with Ethereum? Or put your kids through college solely using Dogecoin?
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      05-29-2021, 11:01 AM   #773
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Ok that's enough of a crypto tangent, this thread is about the stock market and crypto is not the stock market
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      05-29-2021, 07:33 PM   #774
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Originally Posted by antzcrashing View Post
Ok that's enough of a crypto tangent, this thread is about the stock market and crypto is not the stock market
I sold all my Bitcoin at $45k as it was dropping. Bought more AMC.
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      05-29-2021, 07:36 PM   #775
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Blah debating buying into crypto. Interesting that the stock market is coming back while crypto is dropping, although I can understand the mannerism in which it is fluctuating as result. More so curious to see what the trend will continue as. Seems that some faith was lost in the sudden down turn resulting in those going back into the stock market.
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      05-30-2021, 09:17 PM   #776
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Originally Posted by JP10 View Post
Blah debating buying into crypto. Interesting that the stock market is coming back while crypto is dropping, although I can understand the mannerism in which it is fluctuating as result. More so curious to see what the trend will continue as. Seems that some faith was lost in the sudden down turn resulting in those going back into the stock market.
I'm planning to buy crypto again this week. I think it will start to come back.
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      06-01-2021, 12:52 PM   #777
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meme stocks are running the market

i'm finally able to sell calls on my $PLTR and $BB shares for a good amount with IV through the roof
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      06-01-2021, 02:51 PM   #778
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meme stocks are indeed going crazy. where does it end ? AMC stock tripling in price over the last month. 10x since january. similar story with GME. Glad i bought some... but wish i bought more like everyone else here.

NIO also performing very well today.

my ARK ETFs are slowly on the rebound (i hope)
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      06-01-2021, 03:34 PM   #779
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Quote:
Originally Posted by antzcrashing View Post
Ok that's enough of a crypto tangent, this thread is about the stock market and crypto is not the stock market
i don't think you can just ignore cryptocurrency
people are investing in crypto like the stock market
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      06-01-2021, 06:38 PM   #780
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Quote:
Originally Posted by Humdizzle View Post
meme stocks are indeed going crazy. where does it end ? AMC stock tripling in price over the last month. 10x since january. similar story with GME. Glad i bought some... but wish i bought more like everyone else here.

NIO also performing very well today.

my ARK ETFs are slowly on the rebound (i hope)
Wish I bought AMC, was thinking about it a few weeks back
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      06-01-2021, 07:43 PM   #781
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Quote:
Originally Posted by antzcrashing View Post
Wish I bought AMC, was thinking about it a few weeks back
Unless you're a short term investor and got in a few months ago, the AMC ship has sailed. It's unlikely to exceed it's 5 year high of around $33/share, at least for very long. People willing to go to a movie theater operating at capacity will be a gradual thing over the next year so. The stock will soon reflect that.
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      06-01-2021, 10:34 PM   #782
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Quote:
Originally Posted by XutvJet View Post
Quote:
Originally Posted by antzcrashing View Post
Wish I bought AMC, was thinking about it a few weeks back
Unless you're a short term investor and got in a few months ago, the AMC ship has sailed. It's unlikely to exceed it's 5 year high of around $33/share, at least for very long. People willing to go to a movie theater operating at capacity will be a gradual thing over the next year so. The stock will soon reflect that.
It's going to hit $33 tomorrow and people are itching to go back right away. Unless there is a second wave, AMC will be strong.
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      06-02-2021, 06:59 AM   #783
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Quote:
Originally Posted by XutvJet View Post
Unless you're a short term investor and got in a few months ago, the AMC ship has sailed. It's unlikely to exceed it's 5 year high of around $33/share, at least for very long. People willing to go to a movie theater operating at capacity will be a gradual thing over the next year so. The stock will soon reflect that.
it hasn't sailed but yeah unless you are getting killed because you shorted AMC when it was down you should not be buying, otherwise you need to wait for the dip to buy.
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      06-02-2021, 12:51 PM   #784
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It's going to hit $33 tomorrow and people are itching to go back right away. Unless there is a second wave, AMC will be strong.
I stand completely corrected. AMC at $65/share right now. LOL. INSANE.

I can hear the cheers from the AMC corporate building 1 mile from me It will be short lived though. Stock nose dive in a few weeks.
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      06-02-2021, 12:58 PM   #785
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I stand completely corrected. AMC at $65/share right now. LOL. INSANE.

I can hear the cheers from the AMC corporate building 1 mile from me It will be short lived though. Stock nose dive in a few weeks.
Yeah itís crazy. 😆 really good for those that got in at $6 few months ago (or $2 in December).
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      06-02-2021, 01:07 PM   #786
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you've gotta be kidding me. lmao AMC stock is on a direct trajectory to the moon.
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      06-02-2021, 01:33 PM   #787
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Originally Posted by XutvJet View Post
I stand completely corrected. AMC at $65/share right now. LOL. INSANE.

I can hear the cheers from the AMC corporate building 1 mile from me It will be short lived though. Stock nose dive in a few weeks.
I was betting $40 when I checked at 11, so I was pleasantly surprised as well! I bet it closes at $50.
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      06-02-2021, 01:37 PM   #788
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it's not too late to get on the GME rocket
shareholder meeting on June 9th
it's going to be a wild ride, one way or another
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      06-02-2021, 02:56 PM   #789
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Yeah itís crazy. 😆 really good for those that got in at $6 few months ago (or $2 in December).
got in about 15$ and out at 60$. wish I was not a huge pussy and had bought more.
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      06-02-2021, 03:28 PM   #790
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Got in at $11, sold a few at $50, still holding like 90% of it. Speculation is it'll hit $500+. Doubt it but we'll see. Already made my cost basis back and then some.
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      06-02-2021, 04:33 PM   #791
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I got in at 25 last week. FOMO'd and bought more after hours.

I gotta say the CEO is playing this beautifully. Donating to wildlife funds for apes/monkeys (as the reddit crowd / wallstreetbets call themselves the ape army) and is giving a middle finger to any CNBC analyst doubting them. free popcorn to stock holders doesn't hurt either.

can't help but think this is another dogecoin scenario that will see massive selloff at some point. Although doge did pump 20% today lol.
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      06-02-2021, 04:44 PM   #792
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Originally Posted by Humdizzle View Post
I got in at 25 last week. FOMO'd and bought more after hours.

I gotta say the CEO is playing this beautifully. Donating to wildlife funds for apes/monkeys (as the reddit crowd / wallstreetbets call themselves the ape army) and is giving a middle finger to any CNBC analyst doubting them. free popcorn to stock holders doesn't hurt either.

can't help but think this is another dogecoin scenario that will see massive selloff at some point. Although doge did pump 20% today lol.
lol come on do you actually think AMC stock is worth $65?! it obviously is going to nosedive and settle at some point... when? who knows. you can ride it as long as you want but at some point you need to cash out.

One thing that's for sure: AMC is not going anywhere; Americans love their entertainment and AMC is no Blockbuster.
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