AI Meta Club
Crypto trader downloads a wallet and dumps their life savings into a coin that's going "to the moon" according to Reddit. No one blinks an eye. In fact, they’re met with encouragement cause crypto devotees continue to excuse themselves from the basic responsibility of understanding how money works.
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Russian economy expert takes a drink to the death of the Russian stock market. This is why I save in Bitcoin instead of gambling on stocks that get diluted by executives gifting themselves stocks bonuses every year, or increasing the total share supply like GME & AMC when they get a bit of attention
>You just use a buzz topics that don't mean anything. You use words like "soverign", "Pseudonymity??, censorship blah blah. Basically like saying "these financial analysts use all these buzz words that don't mean anything. Liquidity, price-to-sales ratio, asset allocation, blah blah blah. And then buying AMC because WSB said it's going to the moon. >I do own bitcoin but to think putting all your money into Bitcoin is great advice, get real. Straw man argument. Nobody with sense says this. Every time some fool comes here in the bull market asking if they should refinance their house to invest in Bitcoin, everyone who has been here for more than a month will say to dollar cost average and not invest what you can't afford to lose. Just like with any other investment.
The corporations are left alone on this. Corporations can not fight this on their own. Legal battles and drowning in legalities isn’t the way. The way forward is for the ppl to gather along and fight these corporations. The same way AMC and GME and doge happened. I hope and yearn to see those days again. It was the epitome of ppl holding together against the power ups. We should all be so fortunate to see those times again.
Dollar cost averaging over the long haul in small chunks is always going to serve well to smooth out the average cost of your coins. But the real question is always whether or not the coins you are DCAing into are worth doing so for. Look at how people have been dollar cost averaging into AMC stock for quite a long time and it’s not served them in the slightest.
Stocks of individual companies are inherently more risky than crypto due to risk of instantaneous and massive dilution, bankruptcy, and bad news drivers. A single crypto is more risky than a broad ETF, but that's due to lack of diversification, not due to the underlying risk of a single asset compared to another. The types of -99.9x% drawdowns and -90% instantaneous plunges that you regularly see in the stock market (NYSE & NASDAQ) almost never happens to cryptos listed on major centralized exchanges except for rare cases like LUNA. In stocks, these death drops are routine, and even happens to well known companies. Since 2022, AMC Theaters is -96%, Rite-Aid is -96%, WeWork is -99%, Silvergate Bank is -99.9%, Biolase is -99.8%, Mullen Automotive is -99.95%, and there are literally thousands more like these out of the roughly \~6000 individual companies listed on US exchanges. Stocks that actually go up in the long term are statistically very rare. People forget about the enormous graveyard of bankrupt companies. Survivorship bias.
AMC stock went to the moon and now has died. Gamestock went to the moon and it's dying. Holo crypto went to the moon and it has died. Some things that have no value randomly become very very popular. The only value of those things are the popularity they have. Popularity diminishes. Past performance doesn't mean anything. What's the chance any of those will go to the moon again? The only thing bitcoin has going for it is that it's the most well known crypto currency. It's difficult for it to be forgotten.
They weren't the only ones to do it, but they were the most egregious! And the excuses, especially after the GME/AMC fiasco! Then all the PFOF and allegations of front running. I'm genuinely surprised they're still in business!
Just a reminder that cryptocurrency exists out of the US. Also, reflect on your own biases before posting something telling people they've downed the Koolaid. You have a clear hang-up with SBF & FTX - join the long list of people here who also have an issue with those entities. You're big into AMC, the WSB are laughing at you guys over there and could easily say that you have 'downed the Koolaid' so rather than throw aspersions over here, put together a coherent, objective, factual argument with references as opposed to just a wall of text if you want to get your point across.
This particular section was an interesting read for those that don’t really know yet; AT&T offers customers a payment option through BitPay. Microsoft allows Bitcoin to pay for Xbox store credits. Overstock.com allows payment on its website with Bitcoin and other cryptos. Game streaming platform Twitch accepts Bitcoin and Bitcoin Cash as payment. AMC theaters allow moviegoers to purchase tickets with Bitcoin and other cryptos. The Dallas Mavericks allow the use of Bitcoin for purchasing game tickets and merchandise through the team’s website.
Robinhood is a publicly traded company, that's regulated by various bodies like FINRA, they're registered with SEC etc..., and they mostly specialize with stocks, which is what their customer base mostly buys through them. Having your crypto funds on Robinhood would be safer than holding it or buying through 95%+ of crypto-exclusive exchanges. Still I am not personally advising for Robinhood or to support their business since they've proven in the past they will act against their user's wishes and benefits (GME/AMC 2021 trading stop which ruined momentum etc...), but I'm just stating that funds are definitely safer on Robinhood than many crypto-only exchanges.
Stocks are *supposed* to be that. But being honest many stocks aren't much more real than many crypto. Let me explain. Stocks with *dividends* meant that an increase in company profits means an increase in dividend yield to investors. If you take that away, stocks have little connection to real company earnings if any. Which is *precisely* why stocks like AMC and GME, even Bed, bath and Beyond got to such insane valuations. Aftr that the only thing stocks are good for are collateral for loans and only the very best of stock would be accept for that anyway
The point is a central counter party like Citadel couldn't influence Robinhood to remove the buy button for AMC to prevent naked shorts from blowing up held by hedge funds that the central counter party is invested in. Tokenizing means there are no government approved market makers that can control the market. It's more of a level playing field
This is a problem with the stock market too. It wasn't that long ago to buy a stock you had to ask a professional broker for permission, then pay them a $25 commission per trade. This kept most people away, and kept people from making blatant investing mistakes. This made opportunities for corrupted middlemen, who are now rampant in the system. Today people are able to buy stocks without permission, paying no commission, without even putting pants on. Corruption is still rampant via hedge funds and brokers, but less so as competition is much more fierce today. What's one of the first things people did with this newfound ability? They bought shares in Gamestop and AMC at the macro peak of the bull market, against all rationale which broke many of the 'rational systems' that were running before this. People lost SO MUCH money, the hedge funds broke the market to escape their 150%+ outstanding naked shorts that weren't legitimately covered, and each will do it again too. I think this, being your own broker, is just a growing phase we must go through now. I don't think in 10 years people will have *less* access to markets, so it's something we all must learn. Crypto is a very, let's say efficient, way to learn, so you'll have a head start into whatever comes next (tokenized real world assets?) giving you a real advantage over your everyman - the way professional brokers had the advantage over you 2-20 years ago. I'd love to see these things taught in schools, but they don't even cover basic expenses/budgeting so that may be a pipe dream. At least as crypto scales more it won't cost $25 per click, so the 'trial and error textbook' we all used will cost fractions of a fraction for newcomers making this all that much simpler. I enjoy the app 'Trading Game'. I found it through this sub. It let's you trade on stocks/forex/crypto with simulated money, but it also has a very thorough education/tutorial side which goes over how markets work, how trading works, and how to survive in these markets. You earn sim money for each 'class' you pass which hits on the dopamine just right. I try to get anybody I know who's learning about markets for their first time to go through all the learning stuff on that app. We need 10 more apps like this one, crypto-specific one's especially, I hope that day will come because better education is really the only way we can progress now.
It's needed because the central counterparties that control the Securities settlements markets dictate what you can and cannot buy. Citadel forced Robinhood to remove the buy button in the AMC Wallstreetbets clusterfuck. Citadel is the largest private central counter party for the settlement of retail Securities in the US. Lehman Bros was the largest private central counter party in the Mortgage Backed Securities market prior to 08'. Tokenization removes central counter parties from the equation
Nah GME and AMC are legit cults. They literally ban you for posting anything negative about the stocks. GME cultists literally worship Ryan Cohen and try to read the 'secret meanings' behind his tweets, even though he said there is no hidden meaning in an interview.
AMC is going up and it's about to squeze, so crypto and stock market goes down....it's called negative.beta.... or ir may be the cace that hedge funds sold crypto to cover margin requirements or to add on their overleverages AMC short positions
Montley Fool in 2021-2022 produced news everyday about GME-AMC and many more stocks while spreading fear and uncertainty. These guys are not professionals and their ass site and articles are based on an agenda they are trying to push. 0 quality.
There was a time when I was naive and thought finance media was unlike mainstream media and were relatively unbiased. They were looking out for the retail investor, the little guy, I thought. Being in the GME/AMC plays and crypto since 2020 has been eye opening seeing all the FUD they regularly pump out. I’m sure once Blackrock gets their spot etf approved you’ll see a lot less BTC FUD because they don’t want to piss of BR.
Sorry but i don‘t agree. I was young and actually had some. I sold them when they hit 100€ and went on a nice vacation with that money. Now i have a kid and with that money i could have bought a house and never had financial issues again. Was a nice vacation so theres that. I never was good with money. I jumped on AMC and Gamestop. They tanked i paniced and sold asap when they hit my price again. If i keeped and just keeped my cool i would again made some nice money. Its hard to play with money like it means nothing when you are not rich and money actually has a value. Like do i have food on the table at the end of the month or not.
You’re posting this a mere few days after people sold moons for $50k-$100k and are buying homes or paying off debt with it. Yes, there’s plenty of time to make life changing gains, just like there’s still opportunities to make life changing gains in the stock market (GME, AMC, NVDA recently). It also has to do with your time horizon. $1000 at 10% over 40 years is $45K. It’s why consistency in a DCA is so crucial
If you're serious about getting into trading: if you're in high school or earlier, get into math competitions. AMC, AIME, USAMO. If you can qualify for the last one you're pretty well set up for the future. If you're in college, getting a degree in mathematics with a focus in applied maths or statistics is probably the most useful. If you're post college, look for online data science or machine learning courses. I know MIT posts a bunch of their lectures on YouTube - it's probably worth looking through those to see if there's anything relevant. Trading is math. If you want to be a successful trader, having strong fundamental math skills is the best place to start. You seem to value "experience" a lot in your other comments. While experience is important, if you don't have any special technical skills, you will be the same as all the other day traders that provide EV to more sophisticated market participants. It's an incredibly naive but common fantasy that experience is enough to be successful.
I think we’re setting up for a bull run. But I live in a popular US city, there are strikes & protests from workers that are not able to make ends meet anymore, AI will begin to take more low entry tech jobs. Even though there are plenty of labor jobs everyone wants to watch videos on their phone all day and get paid. During the Covid bull run people got their stimmy, heard doge, GME, or AMC, everyone saw normies get rich overnight. And it became the dream. The major FOMO has yet to be instilled into the normy. & a lot of attention focused on btc halving. The time is not yet, but we are definitely setting up for it.
A spot ETF with a lot of capital would soften both the lows and the highs of ghe bull market. But would lead to eventually, a stock market like scenario, wherein it grows with time slowly. Why? - An ETF purchases 100% of its coins all at once. And Asset manafers do this well before the peak. Post this, there is no buying or selling that happens after that. The AMC holds the asset and allots shares which are traded. - This also softens the lows since a huge amount of capital is locked out of circulation and is not sold when the market crashes, so less selling pressure on the asset and more on the shares - As the number of ETFs grow, the amount locked out of the system also grows driving price higher. Big money like corporations rarely buy direct crypto currencies or even shares, and rather prefer to hold ETFs. This will lead to a big money influx
Ripples service that utilizes XRP solves the largest problem in banking and finance. Central counterparty risk. This is the exact reason they were attacked by JPMorgan. The interbank settlements markets are facilitated by central counterparties in each market. Usually a handful and sometimes only one commercial entity creates a government approved market for whatever is being traded. I.e. the market maker. For example if you're in the market for the settlements of retail securities just like Robinhood then you would have to go to Citadel to be able to have the liquidity to settle the transactions. I think most people are aware of why this is bad at this point the AMC Wallstreetbets clusterfuck is well known. In every market there is a counter party and JPMORGAN is the largest private central counterpart for the settlement of international payments and their biggest client is Alibaba. Hmmm Or perhaps your familiar with Lehman Bros who was largest central counterparty for MBS in 08'. Side note former SEC Chairman Jay Clayton sold Lehman Bros just FYI JPM doesn't want a system like Ripplenet legal because now any small regional or even local bank can become a correspondence bank or investment bank because liquidity is on demand from an open market with no counter party risk I.e. no 3rd party in transactions in the interbank markets. Ripple has consolidated the entire interbank settlements market and all it's different trade schemes into a single platform. XRP has verticals in every interbank market not just Forex payments remittance.
TLDR: Held Dracula Token alt coin from over 6 figures of profit, to 5 figures of losses Put $20k in a coin called Dracula Token (DRC) at around $0.38 off the recommendation of a friend, who was already up over $50k in it. The day I was hanging out with him and when I bought in, he was up $15k more in the 8 or so hours we were hanging up. Over the next couple months of holding and adding some more Drac, I end up having about $160k of value the day before a new “version” or Dracula Token was being launched. Over the course of a day I went from $170k to about $90k. Still way ahead, but thinking “it’ll bounce back, this new version of the coin is going to be amazing.” I rode it all the way down and held for almost a year to about barely over $0.01 before selling everything for less than a thousand bucks Previously I rode Tron from $9k of gains to $700 of losses, GameStop stock from about $32k of gains to down now about $5k, and AMC up about $15k to down now about $3k. Who knows if I’ll ever learn how to not buy into hype and actually sell big gains for a profit
TLDR: Held Dracula Token alt coin from over 6 figures of profit, to 5 figures of losses Put $20k in a coin called Dracula Token (DRC) at around $0.38 off the recommendation of a friend, who was already up over $50k in it. The day I was hanging out with him and when I bought in, he was up $15k more in the 8 or so hours we were hanging up. Over the next couple months of holding and adding some more Drac, I end up having about $160k of value the day before a new “version” or Dracula Token was being launched. Over the course of a day I went from $170k to about $90k. Still way ahead, but thinking “it’ll bounce back, this new version of the coin is going to be amazing.” I rode it all the way down over the following months to about $0.05 before selling everything for barely over $1k. Previously I rode Tron from $9k of gains to $700 of losses, GameStop stock from about $32k of gains to down now about $5k, and AMC up about $15k to down now about $3k. Who knows if I’ll ever learn how to not buy into hype and actually sell big gains for a profit
That's the beauty of owning a scarce asset with a finite supply. They can only buy what people have and are willing to sell and for the "price" they are willing to sell it at. Even though that statement is true, it's not Gamestop or AMC stock. It's not a pump and dump or get rich quick scheme. The further you go down the rabbit hole, you will realize that price doesn't matter. There's a revolution/movement taking place and we are alive in a unique time
I'm invested in the AMC meme stock. Us apes talk abt MOASS, 100 times a day on Reddit ! MOASS = Mother Of All Short Squeezes. Translation= Apes make big $$$ as short sellers (financial institutions) lose their shorts. Pun intended !