OT: Stock and Investment Talk

[bob-loblaw]

Are you trying to equate Venmo with crypto? Venmo is for kids who are too cool to use PayPal. That’s it. Nothing to do with crypto.

Last time I laughed this hard was Bill Burr at Monmouth Park. Thx for that.

The fact that you fail to see the bridge between Venmo use to Crypto use is astonishing. If you assume, Venmo is for kids too cool to use PayPal, you probably thought the internet was a trend going away. Do you also think Amazon sells only books? Are you also lamenting the loss of your Motorola StarTac phone? Are you still waiting for the final 5 seconds to place a bid on eBay? Is your password qwerty?

All condescension aside, the youth of today DOES NOT WANT TO USE CASH. The cool kids probably dont even know what paypal is. The post I quoted below is more anecdotal evidence of this. The desire of youth to use only a digital currency has EVERYTHING TO DO WITH CRYPTO.

I'm also just going to leave this nugget here.

PayPal and Venmo will offer and accept cryptocurrency for all online payments

PayPal will support bitcoin, Ethereum, Bitcoin Cash, and Litecoin to start.

www.theverge.com

I haven’t visited this investment thread in a while but I’m fired up to see crypto talk going on. I’m pretty deep in the game myself and once you’re in; you’re in.
I play pickup sports with guys in their 20’s and a few things stand out :
-1- they ALL believe that the digital world is the ONLY world. They have known nothing else other than the internet their whole lives.
-2- they want no connection to the old world, especially pre Covid. They don’t even care about gold... that is too old-world to them.
-3- if you are young and not up on crypto news, it means you aren’t on the cutting edge.

My hodlings are :
Bitcoin, chainlink, Cardano , Ethereum, theta, vechain and a small amount of Xrp.

I reduced my alt-coins and beefed up on the big boys. Ultimately I believe these companies will set a new height for investment dollars because the stuff they are working on requires people and systems with unique abilities. There will be multiple companies with trillion dollar market caps over time.

In regards to government regulation ..
they can do some things to regulate crypto as a use of currency, but they can’t really hurt its use as a store of value.
And if they do mess with it’s use as a currency, they stand to lock themselves out from the true world economy that is unfolding - just a dumb move.

You're three points are everything. and was a big part of my "a ha" moment regarding crypto.

I like Chainlink, but still dont have skin in the game there. Every time I go to pick some up I wind up either picking up more BTC, ELA or DCR. There's legit FU $ potential in those two alt coins I just mentioned. DCR could moon very soon. And if/when people discover what ELA does, I'll be laughing for a long time. At $2.50 a coin w a 28mill max circ. It has potential to be a life changing coin.

 

[mdk01]

Interesting CNBC article on Gamestop. All I can say is that there is no way I'd go near this either way. And if the shorts aren't worried about margin they can hold out for a long time.

https://www.cnbc.com/2021/01/26/gam...ain-but-short-sellers-arent-backing-down.html

 

[jtung230]

Last time I laughed this hard was Bill Burr at Monmouth Park. Thx for that.

The fact that you fail to see the bridge between Venmo use to Crypto use is astonishing. If you assume, Venmo is for kids too cool to use PayPal, you probably thought the internet was a trend going away. Do you also think Amazon sells only books? Are you also lamenting the loss of your Motorola StarTac phone? Are you still waiting for the final 5 seconds to place a bid on eBay? Is your password qwerty?

All condescension aside, the youth of today DOES NOT WANT TO USE CASH. The cool kids probably dont even know what paypal is. The post I quoted below is more anecdotal evidence of this. The desire of youth to use only a digital currency has EVERYTHING TO DO WITH CRYPTO.

I'm also just going to leave this nugget here.

PayPal and Venmo will offer and accept cryptocurrency for all online payments

PayPal will support bitcoin, Ethereum, Bitcoin Cash, and Litecoin to start.

www.theverge.com

You're three points are everything. and was a big part of my "a ha" moment regarding crypto.

I like Chainlink, but still dont have skin in the game there. Every time I go to pick some up I wind up either picking up more BTC, ELA or DCR. There's legit FU $ potential in those two alt coins I just mentioned. DCR could moon very soon. And if/when people discover what ELA does, I'll be laughing for a long time. At $2.50 a coin w a 28mill max circ. It has potential to be a life changing coin.

I laughed equally as much as you did when you try to equate crypto as currency. I get why people like Venmo. It’s because it has utility. Not so much for crypto.

 

[Frida's Boss]

Last time I laughed this hard was Bill Burr at Monmouth Park. Thx for that.

The fact that you fail to see the bridge between Venmo use to Crypto use is astonishing. If you assume, Venmo is for kids too cool to use PayPal, you probably thought the internet was a trend going away. Do you also think Amazon sells only books? Are you also lamenting the loss of your Motorola StarTac phone? Are you still waiting for the final 5 seconds to place a bid on eBay? Is your password qwerty?

All condescension aside, the youth of today DOES NOT WANT TO USE CASH. The cool kids probably dont even know what paypal is. The post I quoted below is more anecdotal evidence of this. The desire of youth to use only a digital currency has EVERYTHING TO DO WITH CRYPTO.

I'm also just going to leave this nugget here.

PayPal and Venmo will offer and accept cryptocurrency for all online payments

PayPal will support bitcoin, Ethereum, Bitcoin Cash, and Litecoin to start.

www.theverge.com

You're three points are everything. and was a big part of my "a ha" moment regarding crypto.

I like Chainlink, but still dont have skin in the game there. Every time I go to pick some up I wind up either picking up more BTC, ELA or DCR. There's legit FU $ potential in those two alt coins I just mentioned. DCR could moon very soon. And if/when people discover what ELA does, I'll be laughing for a long time. At $2.50 a coin w a 28mill max circ. It has potential to be a life changing coin.

Please explain in simple English why Venmo, which is simply a payment processor, has “everything to do” with crypto. Venmo provides a system for two people to exchange payment. That payment must be acceptable to each side of the transaction. The currency is a critical component, but one that is generally a forgone conclusion. I send or receive dollars. The fact that those dollars are not physical just means that the funds go directly from one account to another in the same manner direct deposit allows employers to transmit wages without issuing a check. I hardly see how Venmo is some type of game changer, since the exchange of payment virtually has existed for quite some time.

 

[jtung230]

Last time I laughed this hard was Bill Burr at Monmouth Park. Thx for that.

The fact that you fail to see the bridge between Venmo use to Crypto use is astonishing. If you assume, Venmo is for kids too cool to use PayPal, you probably thought the internet was a trend going away. Do you also think Amazon sells only books? Are you also lamenting the loss of your Motorola StarTac phone? Are you still waiting for the final 5 seconds to place a bid on eBay? Is your password qwerty?

All condescension aside, the youth of today DOES NOT WANT TO USE CASH. The cool kids probably dont even know what paypal is. The post I quoted below is more anecdotal evidence of this. The desire of youth to use only a digital currency has EVERYTHING TO DO WITH CRYPTO.

I'm also just going to leave this nugget here.

PayPal and Venmo will offer and accept cryptocurrency for all online payments

PayPal will support bitcoin, Ethereum, Bitcoin Cash, and Litecoin to start.

www.theverge.com

You're three points are everything. and was a big part of my "a ha" moment regarding crypto.

I like Chainlink, but still dont have skin in the game there. Every time I go to pick some up I wind up either picking up more BTC, ELA or DCR. There's legit FU $ potential in those two alt coins I just mentioned. DCR could moon very soon. And if/when people discover what ELA does, I'll be laughing for a long time. At $2.50 a coin w a 28mill max circ. It has potential to be a life changing coin.

I did enjoy some of the condescension. That was funny. Surprised you left out the dot com materials but maybe too close to home?

 

[ScarletNut]

Please explain in simple English why Venmo, which is simply a payment processor, has “everything to do” with crypto. Venmo provides a system for two people to exchange payment. That payment must be acceptable to each side of the transaction. The currency is a critical component, but one that is generally a forgone conclusion. I send or receive dollars. The fact that those dollars are not physical just means that the funds go directly from one account to another in the same manner direct deposit allows employers to transmit wages without issuing a check. I hardly see how Venmo is some type of game changer, since the exchange of payment virtually has existed for quite some time.

Venmo includes a social media aspect to it with comments, likes, emojis that PayPal doesn't.

 

[T2Kplus20]

Interesting CNBC article on Gamestop. All I can say is that there is no way I'd go near this either way. And if the shorts aren't worried about margin they can hold out for a long time.

https://www.cnbc.com/2021/01/26/gam...ain-but-short-sellers-arent-backing-down.html

Can someone explain to me what is happening with Gamestop? It is just a pissing contact between buyers and shorters all from a few chat rooms?

 

[Frida's Boss]

Venmo includes a social media aspect to it with comments, likes, emojis that PayPal doesn't.

Why does that mean Venmo is so important for a crypto currency?

 

[Frida's Boss]

Can someone explain to me what is happening with Gamestop? It is just a pissing contact between buyers and shorters all from a few chat rooms?

There were some honest to goodness value buyers if GameStop. I mentioned Burry elsewhere in this thread. He was long as of his 9/30 13-F filing at around $5. Don’t know his thesis, but probably was cheap on an asset basis, I’m sure he also like the cheapness in the context of the percent of shares sold short relative to float, Any decent news was likely to drive the stock higher, and the short interest would turbo charge that move as it did. The shorts were largely funds, one of which required an emergency $2.75bn infusion today on aum of $11bn.

GameStop will return to single digits. It’s a broken business. Enjoy the spectacle.

 

[T2Kplus20]

GameStop will return to single digits. It’s a broken business. Enjoy the spectacle.

Truth. Will be like watching a car wreck in Nascar.

 

[mdk01]

There were some honest to goodness value buyers if GameStop. I mentioned Burry elsewhere in this thread. He was long as of his 9/30 13-F filing at around $5. Don’t know his thesis, but probably was cheap on an asset basis, I’m sure he also like the cheapness in the context of the percent of shares sold short relative to float, Any decent news was likely to drive the stock higher, and the short interest would turbo charge that move as it did. The shorts were largely funds, one of which required an emergency $2.75bn infusion today on aum of $11bn.

GameStop will return to single digits. It’s a broken business. Enjoy the spectacle.

Bottom of the front page article in the WSJ (behind a pay wall) says it's Reddit, chat forums for day traders vs. hedge funds similar to the CNBC blurb.

 

[Frida's Boss]

Bottom of the front page article in the WSJ (behind a pay wall) says it's Reddit, chat forums for day traders vs. hedge funds similar to the CNBC blurb.

Reddit WallStreetBets forum users would make Jay Gould proud.

 

[bob-loblaw]

I laughed equally as much as you did when you try to equate crypto as currency. I get why people like Venmo. It’s because it has utility. Not so much for crypto.

Please explain in simple English why Venmo, which is simply a payment processor, has “everything to do” with crypto. Venmo provides a system for two people to exchange payment. That payment must be acceptable to each side of the transaction. The currency is a critical component, but one that is generally a forgone conclusion. I send or receive dollars. The fact that those dollars are not physical just means that the funds go directly from one account to another in the same manner direct deposit allows employers to transmit wages without issuing a check. I hardly see how Venmo is some type of game changer, since the exchange of payment virtually has existed for quite some time.

It's a foundation for digital payment. Essentially laying the fundamental framework for anyone under 30 on what money is. Money is not Jimmy Conway in Goodfellas ripping off $100's to everyone. To the youth money is a vehicle to transfer from one person to another. They dont care what type of car is being used.

Yes, virtual payment has existed for some time, just like the internet existed for sometime before Google turned it on its head. Venmo has popularized digital payments in that manner. Now add to the fact that crypto will soon be allowed to be used as a payment vessel on there and you have a gamechanger.

And as a store of value investment 9 out of 10 people in that same demo will choose BTC/crypto over Gold.

I've been equating crypto acceptance lately to the social media timeline. We're currently at the end of use for Friendster and at early stage MySpace, pre-Rupert Murdoch purchase. Most people outside the loop equated Friendster with Match dot com type entity and were hesitant. Then came MySpace that made people realize, hey this new form technology is kind of fun. I can have a top 8 group of friends. And who the hell is this Tom? That's the exact point we're at with Crypto acceptance. Even when Facebook launches, it's still going to be college kids only. My parents wont be asking how do I sign up for Facebook for some time now. And we're ways away from my Aunt Marie sharing pro-trump nonsense on the platform.

It's not going away. And either you're on the train or you're left behind. Blockchain tech and crypto is only going to gain more and more acceptance and real-life usage. Just like social media became more relevant in the last decade. Google & Amazon in the decade prior. Microsoft & Apple in the decade before that.

 

[bob-loblaw]

Reddit WallStreetBets forum users would make Jay Gould proud.

I've made a lot of side money following some of their plays throughout the year. It's been comical watching the slow but steady realization from traditional investors that things like WSB & Barstool have influence.

Sadly, the exposure from GME is going to be the death of WSB.

 

[Frida's Boss]

It's a foundation for digital payment. Essentially laying the fundamental framework for anyone under 30 on what money is. Money is not Jimmy Conway in Goodfellas ripping off $100's to everyone. To the youth money is a vehicle to transfer from one person to another. They dont care what type of car is being used.

Yes, virtual payment has existed for some time, just like the internet existed for sometime before Google turned it on its head. Venmo has popularized digital payments in that manner. Now add to the fact that crypto will soon be allowed to be used as a payment vessel on there and you have a gamechanger.

And as a store of value investment 9 out of 10 people in that same demo will choose BTC/crypto over Gold.

I've been equating crypto acceptance lately to the social media timeline. We're currently at the end of use for Friendster and at early stage MySpace, pre-Rupert Murdoch purchase. Most people outside the loop equated Friendster with Match dot com type entity and were hesitant. Then came MySpace that made people realize, hey this new form technology is kind of fun. I can have a top 8 group of friends. And who the hell is this Tom? That's the exact point we're at with Crypto acceptance. Even when Facebook launches, it's still going to be college kids only. My parents wont be asking how do I sign up for Facebook for some time now. And we're ways away from my Aunt Marie sharing pro-trump nonsense on the platform.

It's not going away. And either you're on the train or you're left behind. Blockchain tech and crypto is only going to gain more and more acceptance and real-life usage. Just like social media became more relevant in the last decade. Google & Amazon in the decade prior. Microsoft & Apple in the decade before that.

Thank you. Appreciate the response.

That said, I don’t see Venmo as a game changer, really. It facilitates a non paper transfer of money, Credit cards accomplish a non paper transfer as well. Venmo is nothing more than a pipeline allowing transfers to occur. It’s not clear why a crypto currency would be advantaged over a dollar, euro, pound or yen in that environment. The latter are the currency of governments with major economies.

 

[T2Kplus20]

Thank you. Appreciate the response.

That said, I don’t see Venmo as a game changer, really. It facilitates a non paper transfer of money, Credit cards accomplish a non paper transfer as well. Venmo is nothing more than a pipeline allowing transfers to occur. It’s not clear why a crypto currency would be advantaged over a dollar, euro, pound or yen in that environment. The latter are the currency of governments with major economies.

I guess the game changer is (or may be) that the younger generation only uses Venmo and believes money is a purely digital entity. This may open the door to widely BTC/crypto acceptance.

 

[bob-loblaw]

Thank you. Appreciate the response.

That said, I don’t see Venmo as a game changer, really. It facilitates a non paper transfer of money, Credit cards accomplish a non paper transfer as well. Venmo is nothing more than a pipeline allowing transfers to occur. It’s not clear why a crypto currency would be advantaged over a dollar, euro, pound or yen in that environment. The latter are the currency of governments with major economies.

I see where you're coming from. CC's accomplish that, but Venmo has taken the process, simplified it, beautified it and allowed the youth to embrace and run with it. It's taken digital transactions and made them a focal point, not a secondary item. What is money to these kids? Like I was saying before, it's not paper currency like I grew up believing.

We're almost at the launch of Facebook, where all the college kids will be using. That's the point we're at with BTC.

 

[mdk01]

It's been comical watching the slow but steady realization from traditional investors that things like WSB & Barstool have influence.

And before that it was barbers, cabbies and the shoe shine stands. The more things change the more they stay the same.

 

[T2Kplus20]

And before that it was barbers, cabbies and the shoe shine stands. The more things change the more they stay the same.

Just that today's barbers and cabbies can reach many more people with their opinions.

 

[Frida's Boss]

I've made a lot of side money following some of their plays throughout the year. It's been comical watching the slow but steady realization from traditional investors that things like WSB & Barstool have influence.

Sadly, the exposure from GME is going to be the death of WSB.

They can magnify volatility in less liquid names, for sure, but I don’t think they will influence the ultimate outcomes of the issuers themselves.

 

[Randal7]

I've been playing a fun game of coulda shoulda woulda with BB. I almost grabbed 100 shares last week at $9 and couldnt pull the trigger. I kept harkening back on my terrible experience with the original "iphone killer", the Blackberry Storm, aka the worst touchscreen phone ever created. That phone was the biggest POS ever.

I threw some $ behind Nokia today, as it seems next in line for the WSB autists after GME and BB. The intelligent people over there are going to cash out soon on GME and have a lot of $$$ to play with.



You could do well on the miners, but I hate to be a broken record, the value in crypto is the self sovereign nature of owning your own coins



It's going to keep happening. I grabbed more over the weekend on what seemed like lows. I'll be a broken record again. BTC is going to be the gold while coin x is going to be the dollar in the digital world. Digital payments and Crypto are here to stay and will be embraced by more and more as we move forward.

The short term talk of regulation only legitimizes the crypto space more. And even if the US tries to regulate, people will look elsewhere to purchase crypto. It's like NJ banning fireworks back in the day. People would just drive into PA to purchase them.

Its the wild west sifting through alt coins, but there's real utility and use behind some of them. Besides ETH--- DCR, ELA, AAVE & FIL are alts I believe in.

You'll start seeing sports teams and celebrities with their own coins very very soon. All providing promises of more access to team x or celeb y.

Jump into blackberry. Seriously. All that GME money is gonna get funneled into BB next, setting off a similar chain reaction (the magnitude will be less, but I'm expecting the stock to hit at least $50)

 

[Randal7]

BlackBerry. That's the stock.

Let the record show -- I attempted to enrich the lives of my fellow Scarlet Knights with a definitive proclamation on Jan 5th. I hope somebody, somewhere out there in the interweb looked at my post and believed.

 

[jtung230]

I see where you're coming from. CC's accomplish that, but Venmo has taken the process, simplified it, beautified it and allowed the youth to embrace and run with it. It's taken digital transactions and made them a focal point, not a secondary item. What is money to these kids? Like I was saying before, it's not paper currency like I grew up believing.

We're almost at the launch of Facebook, where all the college kids will be using. That's the point we're at with BTC.

Don’t tell the kids that Venmo is actually owned by PayPal.

 

[T2Kplus20]

Don’t tell the kids that Venmo is actually owned by PayPal.

But it's the cool kid version of PayPal!

 

[jtung230]

Everything Elon Tweets goes up. Enjoy the bubble.

 

[BROTHERSKINNY]

Interesting CNBC article on Gamestop. All I can say is that there is no way I'd go near this either way. And if the shorts aren't worried about margin they can hold out for a long time.

https://www.cnbc.com/2021/01/26/gam...ain-but-short-sellers-arent-backing-down.html

Own GME cost basis $20/sh. Don’t know when the ride will stop but enjoying it so far!

 

[mdk01]

Own GME cost basis $20/sh. Don’t know when the ride will stop but enjoying it so far!

Ben, I have 2 words for.

Are you listening?

No, not plastics. "Stop loss"

 

[BROTHERSKINNY]

Ben, I have 2 words for.

Are you listening?

No, not plastics. "Stop loss"

Bought 200 sh 12/23/20 sold 50 last Friday @ 60. Test is gravy. If squeeze comes could reach levels much higher. We shall see!

 

[ScarletNut]

Thank you. Appreciate the response.

That said, I don’t see Venmo as a game changer, really. It facilitates a non paper transfer of money, Credit cards accomplish a non paper transfer as well. Venmo is nothing more than a pipeline allowing transfers to occur. It’s not clear why a crypto currency would be advantaged over a dollar, euro, pound or yen in that environment. The latter are the currency of governments with major economies.

I think you’re missing the forest through the trees. Venmo is the experience to this generation. It’s more than a transaction.

 

[Frida's Boss]

I think you’re missing the forest through the trees. Venmo is the experience to this generation. It’s more than a transaction.

But haven’t they enjoyed that experience to date through the exchange of dollars? Why would Venmo be more relevant, or enhanced, depending upon the currency of the transaction?

 

[ScarletNut]

But haven’t they enjoyed that experience to date through the exchange of dollars? Why would Venmo be more relevant, or enhanced, depending upon the currency of the transaction?

My son is 28, a second year medical resident, carries about 5 dollars in his pocket. When he either needs to pay me or I need to pay him, it’s through Venmo. You can scroll and see who your contacts pay and what they post about that payment or you can keep it private. He’s had a bank account for many years and only had to start writing checks when he moved into his apartment for his rent. He had to go to the bank because he didn’t have a checkbook. You have to have their mindset to understand the wave of the present/future.

 

[Frida's Boss]

My son is 28, a second year medical resident, carries about 5 dollars in his pocket. When he either needs to pay me or I need to pay him, it’s through Venmo. You can scroll and see who your contacts pay and what they post about that payment or you can keep it private. He’s had a bank account for many years and only had to start writing checks when he moved into his apartment for his rent. He had to go to the bank because he didn’t have a checkbook. You have to have their mindset to understand the wave of the present/future.

But why is this meaningful for crypto? He transacts with you in dollars, yes? The fact that he carries a deminimus amount of cash is not new.

 

[ScarletNut]

But why is this meaningful for crypto? He transacts with you in dollars, yes? The fact that he carries a deminimus amount of cash is not new.

It’s a mindset, open to concepts that traditionalists wouldn’t consider. You write checks, they Venmo. You call your friend, they text. You value gold, they value crypto.

 

[miketd1]

Hard to see crypto used as money if the price can fluctuate +\- 20% overnight.

Same reason I can’t see it as a store of value.

It’s major advantage is that it offers anonymity, but that’s a double edged sword to big business who don’t want to end up laundering money or funneling funds to an enemy of state.

I say this as someone who’s grown significantly warmer to purchasing a small amount to gamble with.

 

[RULegion]

GameStop up to 209 after hours. Correct me if I am wrong these Reddit investors are trying to take down people who short is that the deal?

 

[jtung230]

It’s a mindset, open to concepts that traditionalists wouldn’t consider. You write checks, they Venmo. You call your friend, they text. You value gold, they value crypto.

There you go. It’s not currency. Its like gold . Couldn’t have said it better myself. Btw, no one writes checks.

 

[ruready07]

But why is this meaningful for crypto? He transacts with you in dollars, yes? The fact that he carries a deminimus amount of cash is not new.

You’re discussing this with a few other posters so I don’t want to make their point for them, but touching on something you mentioned earlier - that you can already make payment between actors in two well-established economies, so why the need for crypto?

I don’t see it as a small thing that the world economy opens up to include a few billion more people who are currently not living in first world countries. Cryptocurrency gives the unbanked around the world a better opportunity. They now join the overall market.

 

[T2Kplus20]

There you go. It’s not currency. Its like gold . Couldn’t have said it better myself. Btw, no one writes checks.

Not true! The old lady that is always in front of me at the grocery store checkout still writes checks. And it takes a long, long time.

 

[ruready07]

Hard to see crypto used as money if the price can fluctuate +\- 20% overnight.

Same reason I can’t see it as a store of value.

It’s major advantage is that it offers anonymity, but that’s a double edged sword to big business who don’t want to end up laundering money or funneling funds to an enemy of state.

I say this as someone who’s grown significantly warmer to purchasing a small amount to gamble with.

The number of cryptocurrency users in the world is still very, very small - maybe a few percent. There will probably be heavy volatility while price discovery works itself out.
Most people in that field see bitcoin at $1,000,000/per coin within 10 years .. If it gets to above 100,000 this year, then things could get really nuts

 

[jtung230]

You’re discussing this with a few other posters so I don’t want to make their point for them, but touching on something you mentioned earlier - that you can already make payment between actors in two well-established economies, so why the need for crypto?

I don’t see it as a small thing that the world economy opens up to include a few billion more people who are currently not living in first world countries. Cryptocurrency gives the unbanked around the world a better opportunity. They now join the overall market.

Unbanked or unbankable? Very big difference.