Stock/Crypto Forum

[ebprince the computer nerd]

I feel like a lot of people here are either into crypto or the stock market, crypto for sure. Since crypto is worldwide its better as a forum since the stock market is only in a handful of countries. I'm personally a stock trader. (Crypto coming soon maybe.)

[Bombastinator]

57 minutes ago, ebprince the computer nerd said:

I feel like a lot of people here are either into crypto or the stock market, crypto for sure. Since crypto is worldwide its better as a forum since the stock market is only in a handful of countries. I'm personally a stock trader. (Crypto coming soon maybe.)

Crypto is commodities in a way, though you don’t have the problem of someone showing up in a truck and dumping 5 tons of corn on your lawn or something.  It’s even sort of hot weather as a modifier though the “weather” is economic not physical.   I think of crypto miners as more farmers than miners myself. 

[Lightwreather]

Don't we have something like this already?

 

Well, got the subforum, I suppose there's a difference?

https://linustechtips.com/forum/37-foldinghome-boinc-and-coin-mining/

[LogicalDrm]

This is tech forum, not finance forum. So same as with cars, you can have megathread on Off Topic for finance discussions, but subforum would not fit. There are other forums for such.

 

Crypto, when it comes to mining and other technology side of it, goes under subforum linked above. Trading crypto would be same as trading currency, and so be more about finance than technology.

[orbitalbuzzsaw]

Don't encourage that sort of shit, we don't need that here

[Spotty]

Financial advice or advice on stock and cryptocurrency trading isn't within the scope of this forum. Our focus is very much on technology/IT. There is the Off Topic section for topics that fall outside the scope of the forum.

It's also worth considering that Finance/Cryptocurrency topics are something that receives a disproportionately large amount of spam as spammers target posts with related keywords. Any post about cryptocurrency/finance receives spam - even this thread has already received targeted spam for finance related scams. May as well open a forum for diet pills or penis enlargement for all the spam we'd get from it. I'll probably lock this thread in a few days to stop spam replies if nobody has anything else to add.

 

On 5/15/2022 at 5:23 PM, J-from-Nucleon said:

Don't we have something like this already?

 

Well, got the subforum, I suppose there's a difference?

https://linustechtips.com/forum/37-foldinghome-boinc-and-coin-mining/

That's for discussion around distributed computer projects (FAH, BOINC, Mining). It's for discussions on the technical aspects; the software, hardware, how to set it up, etc. OP wants a forum to get financial/trading advice on which stocks or coins to trade to make money.

[rcmaehl]

On 5/17/2022 at 1:58 PM, Spotty said:

OP wants a forum to get financial/trading advice on which stocks or coins to trade to make money.

The best way to make 1 million dollars in stocks/coins/<insert financial investment here> is to start off with 2 million dollars. Plain and simple.

[aisle9]

On 5/14/2022 at 10:27 PM, Bombastinator said:

you don’t have the problem of someone showing up in a truck and dumping 5 tons of corn on your lawn or something.

That just sounds like fun. Neighbor won't shut up about how their obscure crypto of the week is going to survive the bear market? Dump 5 tons of corn on their lawn!

 

14 hours ago, rcmaehl said:

The best way to make 1 million dollars in stocks/coins/<insert financial investment here> is to start off with 2 million dollars. Plain and simple.

The best way to make $1 million in crypto is to pick some obscure crypto that no one knows about, buy $10K of it, then post all over reddit about how it's the next 100x. You'll have more than enough rug to pull in a month. Lather, rinse, repeat, $1M. Shitty but true. Reddit tends to be home to the inexperienced crypto types, who will jump at any shitcoin with a flashy enough post.

[Bombastinator]

39 minutes ago, aisle9 said:

That just sounds like fun. Neighbor won't shut up about how their obscure crypto of the week is going to survive the bear market? Dump 5 tons of corn on their lawn!

 

The best way to make $1 million in crypto is to pick some obscure crypto that no one knows about, buy $10K of it, then post all over reddit about how it's the next 100x. You'll have more than enough rug to pull in a month. Lather, rinse, repeat, $1M. Shitty but true. Reddit tends to be home to the inexperienced crypto types, who will jump at any shitcoin with a flashy enough post.

That’s a commodities futures thing.  If you let,say, a corn future mature without selling it, hey! You bought corn!  

[Bombastinator]

43 minutes ago, aisle9 said:

That just sounds like fun. Neighbor won't shut up about how their obscure crypto of the week is going to survive the bear market? Dump 5 tons of corn on their lawn!

 

The best way to make $1 million in crypto is to pick some obscure crypto that no one knows about, buy $10K of it, then post all over reddit about how it's the next 100x. You'll have more than enough rug to pull in a month. Lather, rinse, repeat, $1M. Shitty but true. Reddit tends to be home to the inexperienced crypto types, who will jump at any shitcoin with a flashy enough post.

That’s called “pump and dump” it’s a 19th century technique you try that with a stock and the securities and exchange commission will see you in jail, and trump won’t be there to let you go free.  That’s one of the big ones along with insider trading, which is what Michael milkin got dinged for.  Trump let him go though.  

[aisle9]

50 minutes ago, Bombastinator said:

That’s called “pump and dump” it’s a 19th century technique you try that with a stock and the securities and exchange commission will see you in jail, and trump won’t be there to let you go free.  That’s one of the big ones along with insider trading, which is what Michael milkin got dinged for.  Trump let him go though.  

Key word there: "stock". It's done every day with crypto. Someone picks a random crypto with a market cap of $0.12, posts on reddit that it's the next big thing, creates a couple dozen alts to reply in agreement and shout down anyone who disagrees, then buys up a decent quantity of it to make it look hot. Reddit idiots do the rest.

 

Really the best advice I could give to anyone starting in crypto would be to go on reddit, find every post with some kind of unsolicited friendly advice and do exactly the opposite.

[Bombastinator]

43 minutes ago, aisle9 said:

Key word there: "stock". It's done every day with crypto. Someone picks a random crypto with a market cap of $0.12, posts on reddit that it's the next big thing, creates a couple dozen alts to reply in agreement and shout down anyone who disagrees, then buys up a decent quantity of it to make it look hot. Reddit idiots do the rest.

 

Really the best advice I could give to anyone starting in crypto would be to go on reddit, find every post with some kind of unsolicited friendly advice and do exactly the opposite.

It was done with things other than stock in the 19th century too.  Crypto would fall under the jurisdiction of securities and exchange most likely, but it’s so new and so easy to move around it’s hard to get a handle on.  The result is folks get away with cheating people. Reminds me a bit of some government agency or other in the 1930’s showing people how carnival razzle boards were a con too.  The trick there was the croupier would cheat for you for a little while so you didn’t see how you had no chance, then stop.  Crypto itself has been called a ponzi scheme.  There’s a really old saying: “don’t take any wooden nickels”. There are lots of wooden nickels theses days.  Crypto, airline miles, alll kinds of stuff.  I try to not have anything to do with any of them myself.

Edited May 21, 2022 by Bombastinator

[LogicalDrm]

Locked due discussion taking turn to Off Topic.