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Finance, Biz, Investment, Jobs Thread Bakanon 07/26/2021 (Mon) 06:23:15 No. 2105
"I don't know proper format" Edition In last thread - >World economy going to tank (when does it not?) >people losing and gaining money from Musk, Cryptos, Gamestop and Hedge funds >anons making nice and /c/omfy profits from years old, diverse small investments >newbies (really everyone) learning about suitable investments, reducing expenditures and taking risks, going from nocoins to nocoinsleft >anon's dad and sister are complete clueless on crypto and poor anon has to manage for them >BlackRock and the usuals are buying up real estate everywhere, presumably for the next 2008 housing crash >John McAfee got (((suicided))) >Anon made 500k with an initial of 25k Archive of last thread https://archive.is/3fna9 Post your daily money problem, thoughts on long term, short term investments and progress. Your day jobs or any market trends. Or just laugh at others losing money. Any one have a proper format for these threads?
>>2108 There is no singular answer to that question anon. A better question is what gives you a sense of accomplishment?
>>2107 That's fine, but please consider it from a risk management point of view. As a company, your goal is to fulfill shareholders (if public) and generate a profit at the end of the day. You also need to consider logistics and materials. Are you manufacturing the nooses yourself, or outsourcing it to a third party company? Etc. I assume you are based in the United States. I would recommend a sole proprietorship or LLC; there may be some tax benefits for your state. Look around!
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>>2105 The third pic became severely outdated in just two days. Right now everything is pumped as a result of Amazon's recent interest in crypto: https://archive.is/w9LdC
>>2112 My friend said that the banks were frontrunning and there would be a big spike. I wonder if that was the reason they knew
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From previous thread, anyone here done work from freelancing sites, since I can't get a real job? I'm learning UX design of websites and apps because I can't code and it seems easy enough. How does it work?
>All crypto basically follows the same trend (though the gains/losses are more exaggerated depending on the coin) >BTC dipped under 30k finally >Nah it's not below 25k, no buy >Spikes back up above 34k because lol Amazon >First round of staking finished today >Realize I can stake my SHIB as well >Have something like 4m tokens, worth about $30, since it went down 70%, because why not >Stake it for 90 days (at 14% APR), and knowing my luck, it'll spike and deflate during that time >Realize that since ETH is up, now is a good time to sell it for another coin type that I can use for liquidity >Pull out of my LTC/USDT pool at a $0.20 loss, offset with an $0.80 gain from interest >Convert $350 of ETH into $150 ETH, $100 USDT, $100 USDC, and pair the stablecoins in a pool >Ends up being a 100:80 ratio, because of the pool volume whatever >Risk management says this is the right thing to do because stablecoins won't go down in price and I can collect interest on them safely, at 4% APR <Realize that being stablecoins they aren't going to go up either, meaning I basically sold my position in ETH for no reason to buy coins that are effectively not crypto We're all gonna make it lads
>>2015 >World economy going to tank (when does it not?) You don't understand how much 1% matters to millionaires. The fact that 10-year treasury yields swinging between like 1.25% and 1.35% have been newsworthy on financial channels should give you an example. Everyone is used to seeing big numbers like 10 or 20% gains in a single day because of 2020, but that's absolutely unusual. Remember, a good investment is 8-10% a year, and even 4-8% is acceptable. >anon's dad and sister are complete clueless on crypto and poor anon has to manage for them This has resolved itself. I sent the $2000 of DOGE to my sister's boyfriend as instructed, and they're managing their coins. My dad pulled mostly out of crypto and has 300 ADA left; otherwise I'm managing about $5000 of stocks for him and guiding him towards ETFs and avoiding risky ventures. >thoughts on long term, short term investments and progress. Your short term investments don't matter. Don't day trade or try to time the market. Sure, you'll get a few wins here and there, but when you hit a loss, it'll be staggering. Best thing to do is park your money so it can capture chunks of the market action when things gap up; there's something like 5 or 10 really good trading days in a year that account for most of the gains, so you want some skin in the gain to take advantage of that before it pops.
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I can't believe there's no NO symbol
My crypto strategy is buy eth in small amounts and then wait, and wait.
I hate my job (who doesn't) and I've wanted to find a better one for a long time. The only issue is I have no idea what to do instead of my current work, which is retail, and any time I imagine working in a position or somewhere new and different it's hard to imagine putting my skills to good use or doing anything effectively, because I never finished my Bachelor's for anything specific. Are there any good resources for figuring out what kind of a job you'd be good at? Or what kind of skills someone has and finding work that fits them? Or have any of you had luck finding a different job that you found yourself a lot happier with?
>>2182 I work a part-time dead-end job at Walmart and enjoy it. I get along well with my coworkers and avoid trouble. I live comfortably and well within my means and manage to save money. My point is that work is what you make out of it. Every job is going to have cunty people and bullshit things to do, but you have to find stuff you can tolerate and enjoy. You probably won't find your dream job, but you can find the right job.
>>2186 A small job with good people and constant anxiety is worth much than high pay. Especially with bigger cities and people getting laid off every other week. So far the only strategy is try a bunch of jobs and figure out what sucks the least
Working for a single second of one's life is totally unacceptable.
>>2193 Correct. If you have to work, then you should save as much as possible to obtain financial independence and/or early retirement. Its difficult to have a self directed business these days unless you commit 100%. Otherwise you're going to be cobbling together 2 or 3 things to have enough income
>>2204 You don't have to work under any circumstances, you just have to have money. And if you need money, working is counter-productive because only the poor work. By working at all, you ensure you will always be poor.
>>2205 t. Diogenes
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I haven't checked my investments for over a month. It looks like I will stay red until the next bull run. When will the market crash?
I am on disability while working part time because of mental reasons so if I invest I could lose disability because I can't have more then $2,000 of Countable Resources.
>>2222 Nice numbers. A disability check. >I can't have more then $2,000 of Countable Resources. ???
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greens almost everywhere today, hope you purchased well
>Nighthawk 6 camera security system retails at my local Walmart and online for $469.97 >Cost to the store is $359.97 <On clearance for just $79.97 I'm taking a chance and buying it. I have the original receipt so I'll see if I can dump it at my local pawn store for like $200. Failing that, I can post on my local goybook buy+sell group for like $350 OBO - and failing that, I have an ebay account I can sell as-is for the same price. Even if I get talked down to under $200, I'm still comfortably looking at 2x my money with little risk. Shame that it only has 3-star reviews and apparently shits itself after 18 months or so. >>2224 Probably red tape that affects his permissible income or holdings. >>2222 Can you define "countable resource"? Is that stuff like dollars, or does it include collectables as well? For example, if you're savvy and into it, stuff like MTG sealed boxes take up a reasonably small amount of space, and it's considered a toy (rather than a collectable or investment - which it is), so you might be able to build wealth that way and skirt the people that audit it. To them, it's no different than buying an Xbox (though it will appreciate in value over time). Think about it! >>2234 >BTC at $32k >Nah its not below 30, fuck it >Up to $45k and cools off to $40+ Fugg. Oh well, my dad bought another 50 Cardano (ADA) that I'll be staking interest on. >>2215 A month is nothing in the grand scheme. A red month or a green month is market noise. You have to consider it in terms of a year or more - and on average, it'll slowly trickle up in price. You'll be fine, just park it longer and cost average down where appropriate (8-10% dips are a good time to do so)
>>2242 >>2222 >A “resource” for purposes of SSI eligibility is cash money, or some item that you can turn into cash money. Bank accounts, some life insurance, stocks, bonds, and property are all resources. After you have determined which resources you own, including deemed resources, figure out which resources are countable toward the SSI limit. Many items that are resources actually do not count toward the resource limit: one vehicle used as transportation, the house you live in, household goods, personal items, low-face-value life insurance policies, burial funds and plots, property used in a business, and any money set aside under the PASS program (to be addressed in a future article). A number of other resources also do not count. https://www.rubinlaw.com/blog/what-is-a-resource-what-is-countable-your-questions-about-ssi-eligibility-answered/ Yeah. Not a lawyer, and if you want professional advice, see a licensed professional, not an anonymous person on a Mongolian tapestry forum. But the verbiage used here sounds like "toys and games" would be considered a "personal item". Stocks, bonds, real estate etc and monitored by the SEC, secondary market collectables (eg TCGs, sealed VIDEOGAMES, etc) are not - so you might be okay with that. Legally, cryptocurrency might still be okay to hold, but there's a lot of legal stuff coming down the pipeline for that.
In terms of MTG prices, it looks like reserve list cards have softened after a few months of sharp growth; we may be nearing a bottom on that. Modern singles have been very popular and I sold two small lots in the last week alone, so I'm going to be listing more on ebay. Sealed prices have likewise softened; where I was up +26% on my boxes last month, I am only up 1.1% this month - a loss if I were to liquidate and account for taxes, shipping, and fees (ballpark is to take 15-20% off market value). In any case, this week I'm going to try and aggressively convert more singles into store credit or cash, so I can scoop up a few older boxes while I can. Got my eyes on a single box of pic related, they're going between $300-$500 each. I haven't checked ebay pricing, but those have had a dwindling supply, and I'm surprised my preferred vendor even has any left (most LGS stores have been focusing exclusively on modern cards)
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I was going to buy 20 shares of SHLX (dividend play) and 10 shares of PLTR tomorrow. In Palantir's case, it's one of those (((questionable organizations))) and given the connections the owner has, it's one of those infallable companies. So even if it IPO'd at $9, and is overvalued at $24, I still think it has room to grow over 5 years
>>2276 Is this Palantir related to the news of pic related? Gold and silver is always the safe asset, they might not be holding it for themselves though, more of a "valid transaction" like an actual, permanent payment to a company who knows fiat currency is useless. To be honest, is there value in buying gold now as opposed to otherwise? Seems of "see what others are doing and follow" kind of thing
>>2252 Do you sell them for somewhat regularly or its more of a "its an investment" kind of thing?
Also more insider trading shit, Pelosi is buying NVDA stocks, probably related to ARM buyout or other major event
How much should I tolerate losing before cutting my losses?
I only have one credit card because I'm paranoid about debt but I've been meaning to get a second one for some time now. Recently I've been seeing ads for cards that give BTC back on purchases and I figure that's a decent way to keep building a crypto wallet compared to rewards I never use. Is that a bad idea? Am I retarded?
>>2299 I don't think credit cards with bitcoin rewards are good incentive, or even safe. Few discounts here and there is good, but the bitcoin will be tied to your specific wallet and may not withdraw it unless for specific payments on approved merchants kind of thing. Be careful of these kind of schemes. >>2283 Your losses are what actually define your tolerance anon, and to be fair no one but you knows the answer
>>2299 Most of the cards out there that give crypto back function more like prepaid debit cards except you load them up with crypto instead of fiat. They're still worth it (especially if you already have some crypto), you need to find one that's reputable though.
Buy GME
anyone willing to give out some sound financial advice on crypto.
>>2549 Buy GME instead.
>>2549 The relatively stable big ones like btc eth or monero will be your long term holding coins, as in your wallet which you would use as a stash. speculate some potential shitcoin choices, make little profits from it, sell them and convert to eth.


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