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/biz/ general Anonymous 05/17/2020 (Sun) 19:44:32 Id: 6314b1 No. 232
So, to address the fact that the lockdown/pandemic/seizure-of-power/whateveryouwanttocallit has shown how fragile everything is, let's start a thread dedicate towards learning how to become wealth so that people are not caught with their pants down again. After all, the world runs on money, so why not learn how to properly earn and use it?
GENERAL ADVICE - Investing is a lot like gambling. Never invest money that you can't afford to lose. - Bookmark Investopedia and look up every financial term you read that you don't understand. It will make you smarter and more robust https://www.investopedia(Please use archive.today)/ - Stick with stocks (equities) until you're more experienced. There's lots of other investment vehicles (bonds, GICs, forex) but keep things simple to start. - Options trading and shorting stocks is a great way to fuck yourself over if you have no idea what you're doing. Stick with "buy and hold" or the "buy low sell high" approach for now. - Avoid FOMO (fear of missing out). Other opportunities will come. Act rationally and without emotion, you're not a woman. Look at all the available information, then make good decisions. HOT OPINIONS - If you want to just park money, buy into an ETF (exchange-traded fund) or index fund like SPY (SPDR S&P 500 ETF). An ETF tracks the performance of a collection of equities without actually owning the stock (eg you get no voting/ownership rights ... not sure about dividends), but is safer and more diversified than hand-picking stocks. An index fund tracks a stock ticker index like the S&P500, so as the tide rises, it lifts all boats (including yours) - I would advice against using Robinhood. It is easy to get into, but that is also its flaw - it lacks many features a more robust brokerage has. For example, in the 2 years they were caught using plaintext passwords due to a hack, and they failed to disclose the exchange routing information - they claim to have no transaction fees, but users were actually paying a higher price because of nondisclosure of exchange routing, with them pocketing the difference.
>>7492 Wasn't there a couple of books that you recommended reading as well?
>>7552 Not sure, another anon posted those and shilled this thread. I'm just posting what I know from the ~7 months of trading and self education I picked up. I only have about $5,000 invested and managed to have some successful trades, though I've been waiting several months for one bad one to even out so I can trade actively again. That's another thing, don't panic sell. I jumped in after a rally at 6$ and it immediately folded to $3, and Ive been sitting on my hands ever since. The particular stock (CIDM) hit as low as $0.50, but I put more money into it as it went down, allowing me to buy more shares and reduce average cost down to $1.55. Now, it's almost broke even, but since I didn't lose my head, I was able to navigate through it. Arguably I could have panic sold at 3$ and rebought it all at $0.50, but if I could have predicted that, I wouldve been much richer
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ht tps://boards.4channel(Please use archive.today)/biz/thread/26785206 ht tps://boards.4channel(Please use archive.today)/biz/thread/26790621 . BUY PSLV... also I think /b/ is a better place for this thread.
>>232 It is all just jewish gambling. I will fight to destroy it completely. Not to be a part of it. >muh enjoy being poor Guns take the lives of the rich as well. Money won't protect any of you from someone pissed off at the whole system like me.
>>232 Read Deep Value and Acquirer's Multiple, both by Carlisle. It's a value strategy for the modern age, and while contrarian is relatively safe as long as you actually follow your own system for a number of years. I'd post pdfs if I had them.
>>7561 >guns take the rich as well The rich live in gated communities with private security and never go to violent areas. Are you stupid?
Saw one Anon recommending these books in regards to investing, so figured that I'd drop them here: <The Little Book of Common Sense Investing: John C. Bogle <The Essays of Warren Buffett: Warren E. Buffett, Lawrence A. Cunningham >Macroeconomics Principles, Problems, and Policies: McGraw-Hill Companies (MOBI is baiscally another epub format): https://anonfiles(Please use archive.today)/17D84fEdpa/Macroeconomics_principles_problems_and_policies_by_McGraw-Hill_Companies.Brue_Stanley_L.Flynn_Sean_MasakiMcConnell_Campbell_R_z-lib(Please use archive.today)_mobi
Do we have a /biz/ board? Or is there one on the webring? I'm taking investing a bit more seriously now.
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>>7676 PLW has a /biz/ thread on /animu/ and not sure what is more active aside from cuckchan. There is /biz/ here and also /cash/ but pretty barren.
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Questions about investing in currencies: Given the recent events happening with the stock market, I was wondering about the viability in investing in currencies outside of the U.S. dollar. First of all, I know abut cryptocurrencies, but I'm cautious about which ones to invest in because doge is nothing more that a literal meme, and I don't believe in Bitcoin because I see it as a speculators currency that is going to crash (hard) much to "everyone's surprise". Now I remember that there were a couple of legitimate cryptos that people were recommending, but I forget the name of them, so I was wondering if anyone remembers which of the crpytocurrencies people were recommending as being actually sustainable. Second question is in regards to foreign currencies. I may do some independent research on this myself, but I was wonder if people know about some foreign currencies that are worth investing in because of the country having a sustainable economy.
>>7677 >/animu/ biz thread It's autistic to have such a rampantly off-topic thread and it only exists because there's no active dedicated /biz/ board on the webring. >/biz/ is loli feet pics Total shame, frankly. >/cash/ exists I have little to contribute, but would be willing to post there if there's some activity to respond to. It's better to have activity on dedicated boards than in specific threads on boards with different topics. >>7800 Betting on regular currency is mostly betting for (or against) a country's economy performing well and its currency becoming stronger or weaker than alternatives. Investing in crypto is a thing, but you need to be careful how you do it. Some platforms let you buy it just for the sake of holding it as an asset. Robinhood and I think PayPal are two examples I am aware of. You can buy it but not send it to a random wallet. You're just holding it to sell back at a new price. If you want to have it on hand as currency you'll need to set up your own wallet and then purchase (or mine) some. BitCoin is pretty much virtual bullion now. You buy it and hope it gets big, then try to sell before the price tanks. It happens in phases. There's too many fees associated with using it as currency and there's no privacy. Monero has privacy built into it, but isn't worth as much. Ethereum has some other gimmicks about fulfilling contracts which I'm not clear on, but it's doing fairly well for an altcoin. I wouldn't bother with doge, which is a meme. Attempts to pump money into it are likely hedge funds trying to divert cash into a worthless investment to distract redditors. Keep in mind all currency transactions, including many Crypto ones, have fees associated with exchanging them. These make it difficult to turn a profit via investing. If you have to pay 10% each way to convert, you need to make a 20% gain just to break even, and that kind of return takes a lot of time. If a country's economy totally falters, expect their currency to rampantly inflate and your investment to disappear.
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>>7800 >>7801 You could try to speculate on currencies like anon said, but I'll leave that to the speculators. Here's the technical advancements of a few coins and how they differ from bitcoin. Bitcoin Bitcoin was the first, but it's got serious technical problems that can't be fixed. At the same time, it's "too big to fail", if faith in bitcoin falls, all the rest of the cryptos will too, regardless of technical improvements. Monero One of the technical problems with bitcoin is that bitcoins are not fungible, that is, a bitcoin can be tracked. You could, for example, have a list of "stolen/illegitamite" bitcoins, and force honest merchants not to accept these bitcoins. Monero fixes this problem by making it impossible to track which coins are sent to whom in a block, this makes it impossible to maintain any sort of list, all Monero is created equal. Technically, you could do the same kind of thing with the bank note number of USD, but of course nobody does 'cuz that would be real inconvenient. Some people suggest that with cryptocurrencies it would be more convenient and so we make our crypto fungible. Dash Another of the technical problems with bitcoin is that it was structured so that a new block is mined about every 10 minutes, this means, on average, it'll take 10 minutes for a transaction to "go through". But wait, there's more! You don't just want to see your transaction go though, you want to wait for 2 or 3 blocks to be built on top of it so you're fairly confident no one else is working on a different but still legitimate version of the block chain. Imagine going to the grocery and trying to pay with Bitcoin, it will take you 30 to 40 minutes to check out. I'll also nitpick >>7801 post, the "fee" associated with crypto transactions dosen't go to a bank, it's a bounty you put out to encourage miners to put your transaction in the next block. Dash "fixes" this problem by making the time to mine a new block about 15 seconds. There's really no technical achievement here, it's just a faster, less popular bitcoin. Etherium "Bro, what if we put programs "Smart contracts" on the blockchain, and then paid other people to run the programs with crypto, attached to the program?". Kinda a neat idea, but until someone really finds a good use for it, it's a novelty. I'll also mention that Etherium is supposed to be switching to a Proof of Stake system, we'll see how popular the fork is though. Proof of Stake A way to build a blockchain, not a cryptocurrency onto itself. instead of guessing numbers to build the next block and get rewarded with the fees + a set amount of the coin, a miner validator is chosen randomly(ish) to create the next block, there are no fees involved and instead the validator and everyone who checks their work receives a flat commission for creating the bock or attesting to it's correctness.. Being offline when you're asked to create a block or disagreeing with other people validating the correctness of a block looses you crypto. My personal favorite at the moment is Stellar Cryptocurrency tied to other assets, these could be other cryptocurrencies like Bitcoin, non-crypto currencies like USD or Pesos, physical commodities like Gold or Silver, or any other asset. It's totally not a cryptocurrency though, it breaks the "trustless" rule that all other cryptos have, instead you trust a set of asset brokers that you can buy or sell derivatives from, think of it more as a decentralized group of stock brokers than a cryptocurrency.
Figured I'd ask this in the /biz/ thread since business and economics are heavily reliant upon each other. I'm listening to one of the economic reform ideas proposed by Richard Cook (Worked in the FMS division of the Treasury Department from Reagan to Bush Jr.), and a couple of questions immediately sprouted: https://invidious.tube/watch?v=6cBafaTItck First, is what the guy is proposing best summarized as a "universal basic income"? Second, is that proposal already being enacted in the form of the COVID relief checks that the Feds are giving to the public, and it's done nothing but destroy the economy? Third, if it's NOT a UBI, and is, instead, just a one-time check to "get the economy going" won't it either fail like Lincoln's greenbacks (They never gained any traction and hyper-inflated due to gold already being so widely used in circulation) or not change a single thing like what happened in Russia (After the USSR collapsed, the new government didn't know how to restart the economy with a currency that was valueless, so they went ahead with making a new currency, giving everyone in the country the same amount money, then let nature take it's course, and the result is all the money entered and left the same pockets that did or didn't have the wealth before the collapse)?
Have a couple questions about wallets. First of all, what's the real difference between the web, mobile, and desktop clients? I assume, that the desktop clients are the most "secure" by default, but just asking because I'm curious. Second, after going to the website of the cryptos that I'm interested in, here are the wallets that I'm looking at: >Bitcoin Core: https://bitcoin(Please use archive.today)/en/wallets/desktop/windows/bitcoincore/ >Monero GUI Wallet: https://www.getmonero(Please use archive.today)/downloads/ >Guarda Wallet (Litecoin, Ethereum): https://guarda(Please use archive.today)/ I was wondering is anyone has any experience with these or if there's a better wallet out there for these currencies.
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I think I found a purpose behind the shitcoins. They're the lowest value of poker chips. For those who don't know, white chips are $1, red are $5, and blue are $10. Comparing these to cryptos, your blue chips would be Bitcoin and Etherium. Your red chips are "lesser" powerful ones like Dash and Lite. And, your white chips would be the shitcoins like Doge and Shib. Now, with white chips, they don't really exists for those who want to make any real money gambling. They just exist for people who are looking to play around with gambling and either lose their small amount of pocket change or come out with an extra $10 they didn't have prior. I was wondering if it's possible to use the shitcoins for a similar purpose. NOT as any currency with real value, but as a means to drop $5 exchanging around money between currencies to get a feel for the trading, how it works, how to send/receive crypto, how to convert it, and so on. As far as I know, there isn't really any application or "game" that exists that simulates how trading/exchanging in the crypto market actually functions. So, I was wondering if these shitcoins would be a good primer for what comes later.
>>7561 Take it easy punisher Max, you’ll pop a vein.
>>7492 >You're not a woman Nigger there are great woman traders out there. No need to alienate fellow /pol/acks by being needlesly rude.
>>7561 This edgy fucktard is onto something All systems of wealth are dependent on the existence of law and order. When there is no government to monopolize violence your ability to amass wealth through less tangible means plummets. Assuming everyone here is more worried about being self-sustaining and having true wealth unbound by the regulations and laws that keep societies free from banditry rather than getting more bing bing wahoo point on the scoreboard of fortune-500, wealth in its essence is: 1. Land: Owning a part of the earth is how you store wealth. Gold is considered to be a store of value but this is only possible when there is someone trustworthy to trade with that you can agree on a currency with. Land can't be "stolen" per se, unless you are forced out of it. So to not get forced out if you need to also have 2. Life: By having ownership over life you are able to generate more value: food, tools, shelter. Manpower in particular will also allow you to fortify your stored wealth in the form of land. This can either mean having many sons or making an agreement with other men to protect one another's land in case of infringement. Having livestock will allow you to more efficiently produce the aforementioned value, this livestock will also be a kind of currency that can be traded with trustworthy partners for land or manpower. While you're playing with shitcoins and stocks always keep in the back of your mind that until you invest in land and life, you're not wealthy. Consider if the casino will allow you to cash out before you get too deep into /biz/ness.


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