M*CARBO Brotherhood

Anybody here play with Crypto currencies?

Ok, I’m on the downhill side of 60, My son is a lot smarter than me (thank god) and talked me into taking a small position in Crypto through an app on my phone called AnchorUSD,
The App also allows some stock trading and has a “high Interest” money market style area that pays 7.83% currently! What more could you ask for?
Let me tell you!
My initial investment totaled $5k 3months ago. I’ve tripled that on paper between what I put in and took out and still have just shy of $6k in the account.
The problem is when you want to have money sent to your bank, It takes weeks to get there even though it shows removed from your account immediately.
I worry that this may be a pyramid scheme where they’re “robbing Peter to pay Paul”.
What are your thoughts?

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Personally, I have a hard time trusting crypto given it’s wild daily volatility. Add rich idiots hyping it and shunning it, hyping it and shunning it, it’s too “all over the map” for me. I go for physical holdings myself like metals, bonds for the kiddo, ammo, etc.

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I can’t bring myself to get into crypto. I have family that invested a lot of money into Bitcoin and some on dodge but. I just don’t have a good feeling about it. I play in the market but stay in solid companies and etfs.

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I’ve held small positions in the stock market since I was in my late teens which have grown enough to let me have a comfortable retirement in a couple years as long as the country doesn’t collapse.
A stock market analyzer would say that ammo is over bought right now but I still invest in it and also reload 16 different calibers!

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The risk is pretty high. Depending on your financial needs, I think low fee funds that track bond markets would be a way better place to be at your age. Vanguard has several funds with really low fees that over time average 4%-5% a year, with much lower risk that either stocks or esp. crypto stuff.

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We played a little. Most of it is not a pyramid scheme. There was one that gave you crypto for people who signed up after you. That is obviously a pyramid scheme. The one I am thinking of has pretty much ran it’s course however. But if you got in early and sold awhile back ago, you would have made money.
We did it the old fashioned way and just invested through a couple of different apps. My wife and I both get these “feelings” about things and I am better with stocks and she is better with crypto. I did not like it because it is very very volatile. If a government anywhere in the world cracks down on it, it takes a dive type of thing. However what we did, was #1 I let my wife be in charge of those investments. #2 when we made money, we took out the original investment and left the profit in to play with.
We did not invest much either. She did really really well at it, buying and selling, but about a month to a month and a half ago she suddenly got skittish about it all and took almost everything out.
I stick to the markets and let her play the slot machines. LOL

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I agree, it’s kinda like going to Vegas, you don’t play with more than you can afford to lose! Over time the stock market has proven to be one of the most consistent performers. I’m starting to move parts of my investments into less volatile areas like ETFs, Bonds , Dividend Aristocrats, etc.
That being said I still role the dice on the occasional penny stock and now Crypto in small amounts just to get some exposure. The risk is minimal compared to the possible reward and I like this idea MUCH better than leveraging stocks with options!

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One regret I have is not buying land when I was younger. As the saying goes " They ain’t making any more of it"! I also would of liked to invest more in water. I have some investments in it but out west you have a small cabal of Billionaires like T Boone Pickens buying up all the water rights!

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I’ll stick to the NYSE. DJIA was 19,000 when Trump was elected, right now 6/30/21 its at 34,462. My portfolio took a pretty good hit March of 2020. Right now I’m up 250K and playing with House Money. Bitcoin scares me, it’s too volatile. Real estate right now is where it’s at. Sold our Beach House in the Florida Pan Handle April of 2019. If I owned right now I could have made another 250K. If you only knew. Then again when you get greedy your likely to lose your A$$. T Boone Pickens is pushing up daisy’s

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That’s why I said “like T Boone” He was big into it before he “went down the well”. There’s still a few others that hold approx. 85-90% of the known Aquafers out that way.

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No Crypto here. Apple stock…yes for over 7 years now. Physical precious metals always.

Still may buy more silver when it takes a decent dip.

APPLE:

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I have a pretty diversified bunch of investments. The funny thing is, the closer I get to retirement and more conservative, the crappier my returns! I know I shouldn’t complain because I haven’t taken any big losses except on one stock and even that’s starting to turn around. I just feel like I need to move more into cash right now and wait for the inevitable crash or adjustment (or whatever you want to call it) that I’m pretty sure is coming!

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We took a pretty big hit when the flu came around. We have a couple of accounts and one did not do nearly as bad, so I took charge of the other one and turned it around. We have backed off being aggressive as we have gotten older, but this president scares the crap out of me also. We put half of what we have in one account into bonds after the election. I might reconsider after mid terms.
Basically I have zero faith that this administration has a clue about the economy and all that goes into it.

As for water rights. They can kiss my ass. They were saying out in Colorado you can’t catch rain water. I said, the hell you say, I will do whatever I want with what is on my property. Some law that Nebraska has sued them over or some BS. Don’t try and tell me about rain a holes.

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It’s the COVID plandemic “global currency reset”.
They pulled the rug right out from under our feet!!:rage: almost….:boom::boom::boom:

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You can be 100% sure it is coming. And sooner than many think IMHO. The current market is a house of cards thanks to the feds and their asinine QE policy. I hope all of you still in there or have your retirement vested there that you have a stop loss in place. When it starts to go It may be very hard to get out. Not a doomsdayer. JMHO

As for Crypto. I started “mining” bitcoin in 2009 when it first started. I had 250 at one time. I never thought any of that stuff would ever be worth much. I started selling at $10. Sold the last bit at $1500. Who knew. What is that saying about hide sight. “Mined” a bunch of others too and made a few bucks after equipment and electricity costs.

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Oddly, ive been debating a thread on this topic for a few weeks now . Ive got enough in crypto to have fun, and stay interested. Its like making prop bets on the super bowl. Watching the trends, and You tube “pros” trying to explain in circles the importance of Bull/Bear moves, entertains me, and having some skin in the game keeps things interesting. + it satisfies my inner OCD for patterning, and numbers.
I could never trust it to provide any tangible rate of return towards retirement, so i buy super cheap tokens mostly, in hope the projects im funding might take off, ideally, i may see a pleasant surprise or two 10 years down the road.

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I’m the same way. I’m playing a little with it just to learn about it, I’ll certainly never get rich from it.
Crypto reminds me of a penny stock I bought back in 2009. The company is still in business, (it’s been steadily shorted about 40%). It was so cheap I have about a1/2 million shares. It’s a cannabis stock that flies under the radar and they keep doing innovative things but I’ll probably be dead before anybody puts serious money into them!

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Thing that bothers me about investing right now is, they keep playing up the jobs reports. However, we do not know if these are just people returning to work or if it is actually new jobs. That makes a huge difference. If 80% of those numbers are just people returning to work (which a very high number have been to this point), how can the market be higher then pre covid. Then throw in 1.000.000 illegals due to opening the border, and that are now looking for a job also and the job numbers look horrible.
Demand plays a part, but it most likely has not changed much since pre covid. Demand is also why I think they kept scaring people into panic buying.
So between panic buying and actually very few new jobs being created, when the market just keeps going up, I am pulling back, because that feels like a bubble.
Throw in inflation and that is just the cherry on the cake as to why I am not bullish on much.

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Well said! I think you nailed in it. It’s just a question of when. It also makes you wonder if alternative investments are even a good idea right now. I’ve got quite a few REITs , some gold, a little rare earth, and a lot of lead!

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There’s a shortage of workers here. Help wanted signs everywhere. Most popular restaurant in town is closing on Wednesday’s in the middle of tourist season due to labor shortage.
Where did they go? Are they working from home?
Something is going on here.:face_with_monocle:
Did they crack the crypto code? Lol

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