Politics and stuff

[Cnasty]

http://thehill.com/homenews/house/33380 ... ouse-floor

Yay Texas which makes this even odder in itself considering 99% of this state is red if you will.

[DRiccio21]

and the mkt is still acting completely fine and volatility (often referred to as a fear gauge) is at record lows and has been since he's been in office. if things were uncertain or bad, that would typically be sky rocketing. until I see volatility up big I tend to believe all this stuff we're seeing is nonsense.

mkt had its worst day in a while and volatility was up almost 50% on the day (thats probably only happened a handful of times since i've been in biz)

that's what you call a jinx

[shel311]

mkt had its worst day in a while and volatility was up almost 50% on the day (thats probably only happened a handful of times since i've been in biz)

What does it all mean!!!!

[Cnasty]

Riccio, give me your TLDR on Bitcoin and thoughts on its future.

Will hang up and listen, thanks.

[DRiccio21]

mkt had its worst day in a while and volatility was up almost 50% on the day (thats probably only happened a handful of times since i've been in biz)

What does it all mean!!!!

it means the stuff that people have been oh nozzzzzzz'ng about for the past few months on tv hadn't really mattered much, something today (or maybe yesterday) set off some big money to hit the exits. thats not me and you selling down our 401k, thats big institutional money selling down positions. could be that they have some info on shit thats happening in Washington or it could just be them being proactively selling. nobody knows 'why' nor does 'why' really matter in terms of trying to make money.

it's not smart to try to take 1 days worth of action and draw conclusions from it but it was certainly a damaging day. next few days will be interesting to see if it continues or settles in to close week normally.

[DRiccio21]

Riccio, give me your TLDR on Bitcoin and thoughts on its future.

Will hang up and listen, thanks.

- it's real... not some crazy futuristic nonsense. it's liquid and the markets are traded by real money investors.
- it moves with 'risk on' assets. so when high growth stuff is ripping, bitcoin usually does well. when it's out of favor it gets crushed.
- i have no more a guess as to what its future prospects are as anyone else. i'm not a predictor, i'm the exact opposite. i look at action and then manage risk based on what the action is saying. i'm a fundamental scanner of companies #'s and a pattern specialist of their charts basically.
- my pointless guess is that its here to stay or some form of digital currency. i think thats a given tho, so not much of a guess. what the price of bitcoin of the prospects of investing in it now, i think that depends on your time frame. its very speculative and its very extended so its dangerous. (doesn't mean it can't go up but you don't have any place to manage risk against if you're wrong)

you're like the 10th person who's asked me about it recently, i wonder whats causing that. i would assumes it the fact its almost doubled in the last year in price. but its been around for a long time.

[Cnasty]

Riccio, give me your TLDR on Bitcoin and thoughts on its future.

Will hang up and listen, thanks.

you're like the 10th person who's asked me about it recently, i wonder whats causing that. i would assumes it the fact its almost doubled in the last year in price. but its been around for a long time.

I have dabbled in it for a while but it has really taken a big jump lately which is nice.

I don't rely on anything and I only put in what I am ok in "losing" if you will much like anything else I throw money at for entertainment but this is getting too real for me now if you will.

It is rather complicated even after knowing a good bit about it and having money tied up in it but it is rather volatile as you mentioned but so far it's been fantastic to see.

[Uuaww]

Bought bitcoin back in 2012, sold near the high of 2015. Of course if I would have known what this was gonna happen, I would have held on...

[doc]

Trump is like George Bush level embarrassing.

Worse

Well, he hasn't sent a bunch of dudes to die in a sham war...yet. So he has that going for him.

Trump still has that level of absurdity to shoot for before he gets to that level of bad.

Outside of a war he has made this country look worse then busy ever did. IMO

[shel311]

Outside of a war he has made this country look worse then busy ever did. IMO

I feel like you can only say "outside of a war" if there wasn't an actual war.

[doc]

Outside of a war he has made this country look worse then busy ever did. IMO

I feel like you can only say "outside of a war" if there wasn't an actual war.

I won't bite because you know what I mean.

[GeorgesGoons]

Honest question.....

What happens if the probe finds nothing and Comey testifies next week and doesn't collaborate anything the media is saying?

Where do we go from there?

[shel311]

Honest question.....

What happens if the probe finds nothing and Comey testifies next week and doesn't collaborate anything the media is saying?

Where do we go from there?

On to the next thing to be outraged about.

[wdoupis]

Honest question.....

What happens if the probe finds nothing and Comey testifies next week and doesn't collaborate anything the media is saying?

Where do we go from there?

For the sake of our country we should all hope the probe finds nothing. Corey already said in his memo Trump told him to drop investigation of Flynn which is already illegal. I know you are the die hard conservative and I love you buddy but you just have to look at this for what it is. Its an unprecedented firing where his own team has spun contradicting stories and anyone with any common sense knows exactly why Trump fired him. It's obstruction, plain and simple.

[shel311]

I love that all of Trump's team was scrambling to deny the security breach, then Trump just comes out and says, "Yea, I did that"

[wdoupis]

I know, giving away classified information to the Russians of all people. When will republicans decide backing this idiot will cost them politically??

[DRiccio21]

Riccio, give me your TLDR on Bitcoin and thoughts on its future.

Will hang up and listen, thanks.

you're like the 10th person who's asked me about it recently, i wonder whats causing that. i would assumes it the fact its almost doubled in the last year in price. but its been around for a long time.

I have dabbled in it for a while but it has really taken a big jump lately which is nice.

I don't rely on anything and I only put in what I am ok in "losing" if you will much like anything else I throw money at for entertainment but this is getting too real for me now if you will.

It is rather complicated even after knowing a good bit about it and having money tied up in it but it is rather volatile as you mentioned but so far it's been fantastic to see.

just understand what you own, that would be my best advice.

its going up because we've been in a bull mkt. its correlated to how risk assets do. so if the mkt went into a major correction, its pretty likely (not certain) that bitcoin would start to get wacked again.

younger/newer innovative things trend extremely quickly early in their growth cycles because they have no 'overhead resistance' so whenever it reaches all time highs there no 'natural sellers' (meaning nobody owns the asset at that price so they aren't mad or looking to get out break even). when the buying dries up and the pace of the acceleration starts to slow it can lead people to start to think about selling or if other assets they own (say stocks, real estate, etc) starts to go lower they might take profits to offset that. When selling starts to accelerate it causes others to start to panic and sell too. then depending on how much underlying bid (buyers) there are, selling can start to accelerate. Then you go into price discovery mode. say something goes from 10 to 100. then it drops to 50. then it goes to 150. then it drops to 75 then it goes up to 200. that's a pattern of higher lows and higher highs. that's very normal, positive trending action. nothing goes straight up. so it ultimately depends if you're in it for a long term investment (be forewarned, everyone is a long term investor until they see their investment dropping and then they reconsider when emotions take over). then as things get 'older and more mature' things start to balance out somewhere between its all time highs and all time lows and the fluctuations are less aggressive because there is more 'overhead resistance'. at that point it typically takes another bull mkt or a new innovation to create another run to highs. so because bitcoin has never traded at these levels, that's why its moving so fast. but just like its moved up quickly, it could correct/retrace quickly. also just because I said things eventually lose momentum in trends, that doesn't mean it has to happen in 6 months or 6 years... the greatest innovations can trend for years and years if they are truly a game changing thing. bitcoin/digital currency certainly could be.

so again, understand what you own, why you own it, why things move and then make decisions based on risk/reward. know what your risk levels are before you start to do anything or decide now the number you're willing to let it drop to or rise to before you're going to exit.

the vast majority of individual investors who speculate in stocks or risk assets typically go to zero... don't be that guy. have fun, enjoy it, but be smart

[Cnasty]

I've had it since 2014 and just been sitting on it.

Don't plan on doing anything with it even at where it is now which has been tough to hold off on.

I'm not dumping anything into at this point anymore besides a piece here for fun or if I get a payment in it.

[Cnasty]

I know, giving away classified information to the Russians of all people. When will republicans decide backing this idiot will cost them politically??

When they feel certain enough he will be removed from office.

[GeorgesGoons]

To the Bitcoin shit. Can you buy anything with it? Is it currency? I have zero clue what this is, besides hearing about it over the years