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4 minutes ago, iam90sbaby said:

Yeah that's FUD, guaranteed Coinbase isn't going anywhere. 

Crypto.com, Coinbase, Binance and Poloniex will always be around.

Well you also said 1 ETH would be worth $250k right now.

If there is one thing crypto bros should have learned by now is that anything can happen and it's not all roses and bottle service

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30 minutes ago, vomit said:

Well you also said 1 ETH would be worth $250k right now.

If there is one thing crypto bros should have learned by now is that anything can happen and it's not all roses and bottle service

Coinbase holds over 8 billion in Bitcoin alone. Is anyone besides some nobody writer at zycrypro saying anything? 

 

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2 hours ago, iam90sbaby said:

Coinbase holds over 8 billion in Bitcoin alone. Is anyone besides some nobody writer at zycrypro saying anything? 

 

Well their earnings are sh1t, they laid off 20% of their workforce, and they've already told everyone back in May that if they go bankrupt they can forget their holdings

They shut down their us affiliate program

 

https://www.cryptopolitan.com/experts-trouble-coinbase-shuts-affiliate/

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Nobody though Celsius or voyager would go under but they did and people lost their life savings

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2 minutes ago, vomit said:

Well their earnings are sh1t, they laid off 20% of their workforce, and they've already told everyone back in May that if they go bankrupt they can forget their holdings

They shut down their us affiliate program

 

https://www.cryptopolitan.com/experts-trouble-coinbase-shuts-affiliate/

 

no.

90'sbaby just guaranteed they will always be around.

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49 minutes ago, WhiteWonder said:

 

 

no.

90'sbaby just guaranteed they will always be around.

oh ok, well that's all that matters.

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Coinbase's holdings don't really matter.  It matters how much of those holdings are used in leveraged debt.  Lehman brothers had 600 billion in assets.

 The speed and depth of the cut is what may be concerning.  I know the crypto bros haven't worked long enough to know how businesses operate, but that is a clear sign they think they have a balance sheet problem.  They're cutting excess expenses because they expect a drop in revenue.    Cutting 20% of your workforce is like firing a bazooka at the problem.  You don't bring out the bazooka unless the problem is clear and obvious.

Does that mean they're definitely headed for bankruptcy?  Absolutely not.  It might just mean the era of cheap money is over, so they need to cut R&D spending so they don't need to pull more & more debt.  

I'm sure they disclose the nature of their debt in their 10k filings though.

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23 hours ago, WhiteWonder said:

 

 

no.

90'sbaby just guaranteed they will always be around.

 

22 hours ago, vomit said:

oh ok, well that's all that matters.

Now you guys are getting it 

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On 7/17/2022 at 8:11 AM, iam90sbaby said:

Yeah that's FUD, guaranteed Coinbase isn't going anywhere. 

Crypto.com, Coinbase, Binance and Poloniex will always be around.

I wouldn't be surprised if any exchange went up. I don't expect the big ones to go soon, but their model is based on fees, which will approach 0 over time. As more of these events happen people will be wary of crypto exchanges.

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19 minutes ago, Frozenbeernuts said:

I wouldn't be surprised if any exchange went up. I don't expect the big ones to go soon, but their model is based on fees, which will approach 0 over time. As more of these events happen people will be wary of crypto exchanges.

All the exchanges that weren't all in on Terra are doing fine.  Anyone with half a brain knew Terra/Do Kwon was a terrible investment, an algorithmic stablecoin, lol. Hell, Celsius is one of the reasons Terra crashed in the first the place. 

Your money is safe at CB & Crypto.com.

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47 minutes ago, iam90sbaby said:

All the exchanges that weren't all in on Terra are doing fine.  Anyone with half a brain knew Terra/Do Kwon was a terrible investment, an algorithmic stablecoin, lol. Hell, Celsius is one of the reasons Terra crashed in the first the place. 

Your money is safe at CB & Crypto.com.

Nope I moved everything to a cold wallet

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1 minute ago, Cdub100 said:

Nope I moved everything to a cold wallet

Yeah I don't keep anything on CB or Crypto I just use it for deposits and withdraws. But if anyone is going to weather the storm it will be those two. 

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15 hours ago, iam90sbaby said:

Yeah I don't keep anything on CB or Crypto I just use it for deposits and withdraws. But if anyone is going to weather the storm it will be those two. 

Maybe I'd bet FTX and Binance over those two.

Even so please put your crypto on a ledger or trezor or where ever. Just keep the bulk off of exchanges. Learn from my mistake.

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On 7/14/2022 at 11:41 AM, nobody said:

It may not be a Ponzi scheme, but it sure played out like one.  I hope the owners of these entities go to jail.

CNBC: Former employees say issues plagued the crypto company Celsius years ahead of bankruptcy.
https://www.cnbc.com/2022/07/19/former-employees-say-issues-plagued-crypto-company-celsius-years-before-bankruptcy.html

The more we learn this was a clear and obvious swindle.  A pump and dump.  The top got rich and the dumb idiots at the bottom got fleeced.

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On 7/15/2022 at 4:07 PM, easilyscan said:

If anyone's looking to buy a lottery ticket stock, I give you National CineMedia, Inc. (NCMI)
National CineMedia, Inc., through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies. 

Full disclosure: I own approximately 2500 shares split among a taxable account, IRA & HSA. My average cost is around $2.25 so I'm underwater.
I'm not pimping it. Those 2500 shares only account for 0.35% of the total portfolio so whichever way it goes, won't make much of a difference for me.
They cut their dividend sometime in 2020, but only by 1/2. They could eliminate it @ anytime, but right now the yield is over 12%

Another concern is the NASDAQ listing requirements. 
If a company trades for 30 consecutive business days below the $1.00 minimum closing bid price requirement, Nasdaq will send a deficiency notice to the company, advising that it has been afforded a "compliance period" of 180 calendar days to regain compliance with the applicable requirements.

The last day it closed above $1.00 share was June 27th.

Another issue for all movie theater related stocks is streaming.

I don't subscribe to any stock analysts. I like to use simple bar charts for things like revenues, earnings, etc.
They cut through the fluff, & unlike people, have no emotions. (they can't lie)

As you’ll see on the revenue chart in the link, Corona has been brutal for this company. (hold pointer over individual bars to see figures)
Revenues bottomed out in Q1 2021, & have shown sequential growth since. 
https://www.macrotrends.net/stocks/charts/NCMI/national-cinemedia/revenue

They still have a long ways to go to reach the revenue levels of 2019, but it looks like they’re on the right path.

I’ll repeat that this is a lottery ticket stock, & I'm not recommending it to anyone.  
*If you decide to purchase shares, don't invest more than you can afford to lose*

 

Boom, this thing is up like 10% since you poasted and seems to be safely above $1.  What's your price target for it?  🤔

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Boom, this thing is up like 10% since you poasted and seems to be safely above $1.  What's your price target for it?  🤔

 

This stock was just under $30 way back in 2007, then cratered down to around $8 a year later. Recovered to around $20 by 2010.

What I don't like, is that it was in a long-term downtrend 'before' corona. Of the 2500 shares I own, the vast majority (2,024) are in a taxable account.

The average cost basis on those is $1.59. I've always liked the Wall Street rule that says 'pigs get fat and hogs get slaughtered'

Because of that, if it ever got to around $3.18, I'd probably sell all the shares in my taxable account & let let the others in my IRA & HSA ride.

Closed up +7.41% today.

Have you bought any ?

 

 

 

 

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5 minutes ago, easilyscan said:

This stock was just under $30 way back in 2007, then cratered down to around $8 a year later. Recovered to around $20 by 2010.

What I don't like, is that it was in a long-term downtrend 'before' corona. Of the 2500 shares I own, the vast majority (2,024) are in a taxable account.

The average cost basis on those is $1.59. I've always liked the Wall Street rule that says 'pigs get fat and hogs get slaughtered'

Because of that, if it ever got to around $3.18, I'd probably sell all the shares in my taxable account & let let the others in my IRA & HSA ride.

Closed up +7.41% today.

Have you bought any ?

 

 

 

 

You have a $6M portfolio?  Have you retired yet?

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35 minutes ago, vomit said:

You have a $6M portfolio?  Have you retired yet?

How did you come up with 6 million ?

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1 minute ago, easilyscan said:

How did you come up with 6 million ?

$2000 being .35% of your portfolio, and I see I focked up a decimal, $600K, more reasonable.  Carry on.

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2 hours ago, vomit said:

$2000 being .35% of your portfolio, and I see I focked up a decimal, $600K, more reasonable.  Carry on.

:rolleyes:

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On 7/20/2022 at 4:02 PM, easilyscan said:

 

This stock was just under $30 way back in 2007, then cratered down to around $8 a year later. Recovered to around $20 by 2010.

What I don't like, is that it was in a long-term downtrend 'before' corona. Of the 2500 shares I own, the vast majority (2,024) are in a taxable account.

The average cost basis on those is $1.59. I've always liked the Wall Street rule that says 'pigs get fat and hogs get slaughtered'

Because of that, if it ever got to around $3.18, I'd probably sell all the shares in my taxable account & let let the others in my IRA & HSA ride.

Closed up +7.41% today.

Have you bought any ?

Gnot yet, just been watching it so far.  :thumbsup:

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Is there an ETF for crypto worth a crap? Need to take my tax losses on GBTC and ETHE and stay out of that dumpster fire. 

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I don't have much to update regarding Celsius.

There is some talk about "clawback" which is this excellent chap 11 law that allows a company to force people who withdrew their money/crypto 90 days prior to filing bankruptcy to redeposit those funds. This would fock me with Voyager where I took out my 2nd largest bag of crypto prior to closing withdrawals.

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32 minutes ago, Cdub100 said:

I don't have much to update regarding Celsius.

There is some talk about "clawback" which is this excellent chap 11 law that allows a company to force people who withdrew their money/crypto 90 days prior to filing bankruptcy to redeposit those funds. This would fock me with Voyager where I took out my 2nd largest bag of crypto prior to closing withdrawals.

Oof 

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I feel like we never talked much about all the NFT project scams that people get away with by calling them “failed projects”. I know you have to do your due diligence but in such an unregulated space, it must suck. Read something about a porn star scamming fans out of 1.5 million or something on a fake NFT project. Cashed it all out through coin base 🤷🏻‍♂️

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10 hours ago, WhiteWonder said:

I feel like we never talked much about all the NFT project scams that people get away with by calling them “failed projects”. I know you have to do your due diligence but in such an unregulated space, it must suck. Read something about a porn star scamming fans out of 1.5 million or something on a fake NFT project. Cashed it all out through coin base 🤷🏻‍♂️

Kinda like trading cards and memorabilia with Fiat currency 

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On 6/2/2022 at 5:43 AM, GutterBoy said:

Well it's been a year and I think we can all agree it's been a failure.  Hate to say I told.you so...

https://slate.com/technology/2022/05/bitcoin-el-salvador-nayib-bukele.html

El Salvador on the brink of bankruptcy

https://www.rollingstone.com/culture/culture-features/el-salvador-bitcoin-law-volcano-bonds-nayib-bukele-1388472/

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I lost the same amount of money in Bitcoin and Ethereum as I lost in Amazon stock and investing in Amazon is not a Ponzi scheme.

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8 minutes ago, peenie said:

I lost the same amount of money in Bitcoin and Ethereum as I lost in Amazon stock and investing in Amazon is not a Ponzi scheme.

:doh:  Yeah well I gained investing in certain stocks How much crypto didn't tank? Nitwit. 

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13 minutes ago, peenie said:

I lost the same amount of money in Bitcoin and Ethereum as I lost in Amazon stock and investing in Amazon is not a Ponzi scheme.

But crypto is.  Not sure what your point is here

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1 hour ago, peenie said:

I lost the same amount of money in Bitcoin and Ethereum as I lost in Amazon stock and investing in Amazon is not a Ponzi scheme.

there are many major differences between the world of crypto and investing in companies. Each involves risk, one involves more. Quick example, If you wanted to cut bait on your losses, you can claim your stock losses on your taxes either to offset the tax you will pay on your realized gains, or up to 3k in excess of your gains. To my knowledge, there is no write off for crypto losses, unless you invested in crypto through robinhood for example, rather than actually owning the digital assets themselves. 

when some of these crypto sites go tits up, you're basically SOL if you held your assets there. At least if a company goes bankrupt, there are some measures in place for investors to recover some losses... specifically if you owned preferred or senior preferred shares in that company. 

Also, there was always a lot of talk among the crypto bros that crypto was a hedge against inflation, the market, etc. similar to gold.... but we have kind of seen the opposite to be true, at least thus far. So it's not really a surprise that you've lost money equally on btc and eth as you have on amazon. The question will be, will they rise in lockstep when the stock market recovers.

Finally, as @edjr pointed out, you could have made money investing in certain stocks. It's harder than it was 2 years ago, for obvious Brandon reasons, but i've made money on certain stocks while others were going down. Crypto as a whole is down. No one is making money on crypto since it's highs. (yes, some people are still up because they bought in years ago, and some people are miners etc,) but the average crypto investor has not been making anything. 

 

 

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3 hours ago, Chronic Fockster said:

If they could only print more money like the sophisticated countries do. 

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