Stocks and Trading Thread - Channeling your inner Mono

[crazy canuck]

I did. I'm pretty happy so far.

My son just told me that his mining is making more than the last job he had. Granted it was a student summer job - but still it amazes me he found a way to combine old computer parts we had in the garage with hydro power to make a constant stream of money.

[Habbaku]

That's pretty awesome. I had looked into mining equipment some time ago, but it's not really feasible in my area even at current prices unless I'm stealing my neighbor's electricity. I think I calculated the payback period some months ago at ~3 years, all in a volatile environment.

[Josquius]

Etherium is the one where its based on giving up spare hard drive space rather than GPU burning right? This is what you're son is doing?
Have heard of a fair few doing well off getting in on that early.
But that hd prices have blown up because of it

[Habbaku]

No, Ether is still based on GPU performance at the moment, but is shifting over in the next cough cough.

Hopefully, at that point, the GPU prices will begin to come down.

[DGuller]

Hopefully crypto prices will come crashing down soon.  Some of us need GPUs to do useful calculations. 

[crazy canuck]

Etherium is the one where its based on giving up spare hard drive space rather than GPU burning right? This is what you're son is doing?
Have heard of a fair few doing well off getting in on that early.
But that hd prices have blown up because of it

No it is definitely GPU intensive.  He started out a few years ago using old GPUs and some old computer parts we were going to send to the recyclers.  He got into it as a hobby without much of a thought of making any money at it and Ether was not worth much back then. He just wanted to see if he could make it all work.  He also wanted to teach himself how to do the necessary coding.  He sold some of his Ether to upgrade his GPUs.  If he could get his hands on the newest models (I can't remember what that is) he would be doing even better. 

@ Habs, yeah, having access to cheap hydro here definitely makes it much more viable.

[Habbaku]

Hopefully crypto prices will come crashing down soon.  Some of us need GPUs to do useful calculations. 

If it goes up enough, I'll buy you a GPU at market price as compensation. 

[Tonitrus]

Hopefully crypto prices will come crashing down soon.  Some of us need GPUs to do useful calculations. 

Hopefully governments will regain (come up with?) some sanity, and outlaw cryptocurrencies outright. 

[crazy canuck]

Hopefully crypto prices will come crashing down soon.  Some of us need GPUs to do useful calculations. 

I don't think you can blame crypto for the shortage of superconductors.

https://www.forbes.com/sites/forrester/2021/05/06/the-global-chip-shortage-wont-ease-soon/?sh=2f72ba3185f4

[DGuller]

Hopefully crypto prices will come crashing down soon.  Some of us need GPUs to do useful calculations. 

If it goes up enough, I'll buy you a GPU at market price as compensation. 

I'd like an RTX 3090, any manufacturer will do.  Thanks! 

[viper37]

So, like, if you know that a company you have no affiliation with whatsoever is planning some major expansions, do you buy their stocks or hold off because the money-spending will make the price fall?

Asking for a friend.

If they plan a major expansion, the markets will react favorably before that will increase future sales&profits (well, it is expected, at the very least).  I'm a little late, but buy now if you have the tip and not many others know about it and there's no risk you are doing insider trading (as you stated you have no link with).

Stock markets often react on rumours, founded or not.  By the time the announcement arrives, there might be a significant gain on the stock, if not that many people already knew about it and bought the stock already.   If there's a trend toward asking to buy more&more of this stock, the price will increase gradually up 'til the day of the announcement.

Depending on how big the rumour/hype was vs how big the real investement is, the stock will more upward or downward accordingly.  I can't give you an estimate of how much the stock can appreciate or depreciate though, even if I knew the company.  But I can tell you in your place, I would buy it, if I had the liquidities for it.

[Tamas]

[viper37]

Etherium is the one where its based on giving up spare hard drive space rather than GPU burning right? This is what you're son is doing?
Have heard of a fair few doing well off getting in on that early.
But that hd prices have blown up because of it

No, that's Chia.

[viper37]

Some of us need GPUs to do useful calculations. 

you mean Doom Eternal?

[The Minsky Moment]

Bitcoin has done very nicely as an asset class.  For the ostensible purpose it was intended - a currency for facilitating transactions or a substitute for government fiat currency - it has been a predictable disaster. In 2017, Bitcoin hit 300,000 daily transactions.  It's held roughly at that level through ups and down over 4 years.  300,000 daily transactions is nice if you are selling smartphones, so-so if selling cups of coffee, and laughingly inadequate for a proposed currency.  Its failure as money is directly related to its success as an asset: no one wants to use a form of money whose value fluctuates wildly day-to-day and which increases in value - i.e. causes price deflation - in double or triple digit percentages annually.

Bitcoin cannot and will never succeed as money - it was fatally flawed from inception - but that doesn't mean it can't succeed as an speculative investment asset. While it's true it lacks "intrinsic value," that is true of many successful investment assets like fine art or collectibles. Bitcoin does not have heritage connotations like some of these assets but it does have one of the attributes that make them successful - a strong and committed community of enthusiasts.  As long at that continues to hold true, the value will continue to go up as Bitcoin is designed to enhance its relative scarcity over time.  So there is some rational basis for optimism over a 5 or even 10 year time horizon.

Longer term, can Bitcoin retain enthusiasm and commitment in a similar manner as Old Dutch Masters or French Impressionists?  It's possible but I have my doubts.