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 Posted: Thu May 12th, 2022 02:37 am
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brodiescomics



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Great time to buy.



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 Posted: Thu May 12th, 2022 02:53 am
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srossi
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brodiescomics wrote: Great time to buy.
It might get a lot worse before it gets better. 



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 Posted: Thu May 12th, 2022 10:52 am
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Kriss
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The LUNA coin was worth $120 last month. Right now it's worth $0.08. LUNA was one of the more popular coins, and there are now people on crypto message boards with their story of losing their life savings and possibly their houses, and contemplating suicide. If you were weren't diversifying your investments with a clear plan and sticking to it, it's just gambling. Some gamblers win, but most lose, and some lose everything. For a lot of people, this is just the lottery for people who think they are smart.



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 Posted: Thu May 12th, 2022 01:31 pm
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Principal_Raditch



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Kriss wrote: The LUNA coin was worth $120 last month. Right now it's worth $0.08. LUNA was one of the more popular coins, and there are now people on crypto message boards with their story of losing their life savings and possibly their houses, and contemplating suicide. If you were weren't diversifying your investments with a clear plan and sticking to it, it's just gambling. Some gamblers win, but most lose, and some lose everything. For a lot of people, this is just the lottery for people who think they are smart.

Good, that means there will be forclosures on those homes and sold at a discount to those of us who weren't morons. 

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 Posted: Thu May 12th, 2022 01:36 pm
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srossi
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Kriss wrote: The LUNA coin was worth $120 last month. Right now it's worth $0.08. LUNA was one of the more popular coins, and there are now people on crypto message boards with their story of losing their life savings and possibly their houses, and contemplating suicide. If you were weren't diversifying your investments with a clear plan and sticking to it, it's just gambling. Some gamblers win, but most lose, and some lose everything. For a lot of people, this is just the lottery for people who think they are smart.
There's a story about market manipulation with this one, but I won't get into it.  A lot of shady shit went on with LUNA a nd some made out like bandits while leaving many broke.

My only small coin that I had left was Filecoin, which I really liked a lot.  It had reached a high of 120 within the last year (I didn't buy it anywhere near that) and is now 8, so it's almost a total loss.  I had less than $5,000 in that though.  I've been avoiding smaller coins for the last few years as the price fluctuations are insane and very much like gambling.  You're never quite sure when or why they will pop huge, but when Bitcoin goes down these coins sink like a rock.



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 Posted: Fri May 13th, 2022 01:34 pm
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Kriss
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srossi wrote: Kriss wrote: The LUNA coin was worth $120 last month. Right now it's worth $0.08. LUNA was one of the more popular coins, and there are now people on crypto message boards with their story of losing their life savings and possibly their houses, and contemplating suicide. If you were weren't diversifying your investments with a clear plan and sticking to it, it's just gambling. Some gamblers win, but most lose, and some lose everything. For a lot of people, this is just the lottery for people who think they are smart.
There's a story about market manipulation with this one, but I won't get into it.  A lot of shady shit went on with LUNA a nd some made out like bandits while leaving many broke.

My only small coin that I had left was Filecoin, which I really liked a lot.  It had reached a high of 120 within the last year (I didn't buy it anywhere near that) and is now 8, so it's almost a total loss.  I had less than $5,000 in that though.  I've been avoiding smaller coins for the last few years as the price fluctuations are insane and very much like gambling.  You're never quite sure when or why they will pop huge, but when Bitcoin goes down these coins sink like a rock.

I know there's a bigger story with LUNA, but it's still a spectacular crash. Down to 3 1/000ths of a cent now. Seems the bottom has fallen out of the NFT market aw well now. Sportemon Go which was going to be heavily featured in sponsorship of British soccer next season, went bust. The fool who "bought" Jack Dorsey's first tweet for $2.9M thought he could sell it for $50M last month. The highest bid was $290. Even if Bitcoin and Ethereum are legit, the whole crypto economy is full of charlatans, scammers and people who just plain have no idea what they are doing. Good luck to all in S&W sailing the crypto seas, though.



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 Posted: Sat May 14th, 2022 02:32 am
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khawk
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what caused everything to freefall to earth like it has?

Signed, someone that only knows what's happening in crypto from what he reads in this thread.



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 Posted: Sat May 14th, 2022 04:06 am
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Quattro

 

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khawk wrote: what caused everything to freefall to earth like it has?

Signed, someone that only knows what's happening in crypto from what he reads in this thread.
Tulips

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 Posted: Sat May 14th, 2022 03:09 pm
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Blazer
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I copied this from a baseball card website that I frequent, but it's an interesting quick summary:



A couple years ago, on the pre-market of the first day of the stock market rout generated by COVID, I posted a similar thread: https://www.blowoutforums.com/showpo...71&postcount=1

At that time we saw a short term deep weakening, and then the Fed + Congress started pumping tons of $$$ into the pockets of every day Americans. Who turned around and immediately started "investing" those $$ into meme stocks, crypto, and other alt assets like sports cards.

Fast forward to today, and the Fed + Congress are wrangling with how to take all that stimulus out of the system, as they face down persistent high inflation. And we have the Fed rising rates into the mouth of a Bear - a highly unusual, and perhaps scary market setup. Remember in rosier downturn setups (i.e., no inflation to also fight) of 2000 and 2007 that it took nearly 3 years and 1.5 years to hit their bottom at -49% and -57% in the S&P vs our current downturn of 18% in the S&P since the Jan 3 peak.

The riskiest stock market assets, like tech stocks, are down tremendously from their peak in Nov '21. Crypto is falling off a cliff, Coinbase trading volume down 40% and warned in the unlikely event of bankruptcy that customers' coins could be seized by creditors, and with Tether becoming unpegged it even is making some question whether Bitcoin could drop a lot more in the rush for an exit that has taken down many other high flying assets (you get the terror some are spreading).



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 Posted: Sat May 14th, 2022 04:19 pm
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gwlee7
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Here I am, dollar cost averaging by investing a set amount every month in low fee index stock funds like I have for the last 25 or 30 years. I am buying shares cheap right now. For me, it removes all stress.



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I just think it's amazing that Trump is really on Twitter all day, personally writing this shit. He's about 3 beers away from joining S&W and getting into a flame war with Ports.----srossi
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 Posted: Sat May 14th, 2022 05:13 pm
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Quattro

 

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gwlee7 wrote: Here I am, dollar cost averaging by investing a set amount every month in low fee index stock funds like I have for the last 25 or 30 years. I am buying shares cheap right now. For me, it removes all stress.
Jack Bogle was a truly wise man.

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 Posted: Sat May 14th, 2022 07:00 pm
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gwlee7
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Quattro wrote: gwlee7 wrote: Here I am, dollar cost averaging by investing a set amount every month in low fee index stock funds like I have for the last 25 or 30 years. I am buying shares cheap right now. For me, it removes all stress.
Jack Bogle was a truly wise man.

Vanguard is one of my accounts. 



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I just think it's amazing that Trump is really on Twitter all day, personally writing this shit. He's about 3 beers away from joining S&W and getting into a flame war with Ports.----srossi
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 Posted: Sun May 15th, 2022 02:49 am
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Quattro

 

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Me too.

VTI etf
And a little Wellington thrown in for some active but low cost.

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