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There's a lot of money in being a public figure. If he wrote a book, it'd probably sell like gangbusters. If someone wanted to make a movie on him he can sell the rights. He got propelled to national fame for doing gently caress-all. Most importantly if he opened his own financial advisory firm he could point out, correctly, that he spoke to Congress after making millions and millions of dollars on a relatively modest stock position. Jim Cramer made good money as a hedge fund manager but he probably makes more money now. Also, importantly, people loving LOVE getting their dick sucked over the internet and he probably just threw away $1.5m on that 50k share purchase to boost his reddit account.
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Feb 22, 2021 08:14
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I really don’t get it. It just seems like more trouble than it’s worth. But then again stonks people like him are most likely literal psychopaths and not some regular Joe that won a lottery.
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Feb 22, 2021 08:21
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https://twitter.com/chamath/status/1363571801289154560?s=20 Prediction: Chamath is about to humiliate his financial enemies by dropping a Taylor Swift style callout song.
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Feb 22, 2021 08:26
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Grem posted:I picked out tile and everything gently caress you Rofl this should be thread title. Very accurate representation of stock investing. Edit: Because this is me if NDRA fails. MrOnBicycle fucked around with this message at 09:33 on Feb 22, 2021 |
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Feb 22, 2021 08:40
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Kraftwerk posted:Guys slow the gently caress down. If I gave that impression, I sincerely apologize. I don’t have that sum of money. I just wanted to know what people could do to convert it into safe assets without getting murdered. I already took delivery of a Lambo assuming I'd be able to get a few coins off you. You're on the hook for it now, I can't sell it with Elon spinners and doge vinyl wrap.
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Feb 22, 2021 08:42
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for the price of once lowly bitcoin i can forget I ever read your posts
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Feb 22, 2021 08:55
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jeeves posted:Do see how quickly money changes people? No, I;m still the same. I would never betray my best friend Draftwork.
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Feb 22, 2021 09:58
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Kraftwerk posted:Not sure if this is the right thread to ask, but say you dug up an old computer and found some BTC on it... from the days when people used to send eachother BTC as a joke and it's like 10,000 coins... I would also contact the exchanges and ask for them to increase how much cash I can withdraw per day. Tell them you have a large amount to cash out--they might actually be willing/able to facilitate a large transaction off the exchange. Probably for a much larger fee than you would pay on the exchange, but with the benefit of it all being done at once with a reliable party. You would 100% need to hire a good lawyer for this... hire someone very expensive from a top law firm because it will be worth it and you want a firm with reputation at stake. If the exchanges can't help you, then just keep withdrawing cash until your balance is low, then send more BTC and repeat. Not sure what the default daily USD limits are on those exchanges, probably 5 figures or low 6. Gonna take a long time to get everything out, but you'd still be able to get an insane amount of money out in just a couple months by doing this. Just keep doing it until the bubble pops or you have enough money that it's no longer worth it to even bother getting more out. People who say you can't get large sums out of exchanges are wrong. In 2017/2018 I day traded my way from 10k to 300k, and had no issues on Coinbase Pro. I could buy/sell 10-20 BTC at a time without liquidity problems. The bottleneck is how much the exchange will let you withdraw in USD per day. But they do have a process for increasing your daily limit if you need it (or at least, they did at the time I used CB Pro). Uranium 235 fucked around with this message at 11:31 on Feb 22, 2021 |
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Feb 22, 2021 11:23
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Who gives a poo poo about preserving liquidity in the Bitcoin market, lol Open palm slap that sell button Also just lmfao that you’d need to be approved by the exchanges to liquidate your unregulated decentralized cryptocurrency
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Feb 22, 2021 11:35
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The daily volume of btc is like $50b+, I don’t think 10,000 coins is going to change the price that much. Dump baby dump.
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Feb 22, 2021 11:43
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Just put in a market order to sell all 10,000 of them at once so this thread can be on the news. Wear a gold lame suit and the million dollar belt (you will have to buy this) for your congressional hearing and explain to Maxine Waters that you did it because “forum goons” told you they were “buttcoins”.
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Feb 22, 2021 11:44
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jokes posted:Who gives a poo poo about preserving liquidity in the Bitcoin market, lol Tbh the way to do it is sell $500k worth on the exchanges, withdraw to bank account, go and put a top law firm on retainer. Tell them you need help selling a shitload of bitcoin and you'll pay them a commission--probably a % of the total, I'm sure they'll negotiate something comfortable for them. Idk that should work To be safe, only tell them you have 1000 BTC and see if they do a good job. But if it's all in one address I guess they'd know how much you really have since it's public (lol)
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Feb 22, 2021 11:45
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Gaius Marius posted:Even if the dude isn't lying about being an accidental millionaire don't sweat it, there's always gonna be someone richer than you. All that's important is having enough money to live comfortably into your old age and to support any children you have. its cool how this is impossible for vast swathes of america
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Feb 22, 2021 11:51
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It would be 0.03% of the total Bitcoin market cap. That’s nothing, the market fluctuates more than that in 5 minutes usually and there’s plenty of liquidity at all times to handle an order like that. Not sure where anyone is getting “you’ll affect the market” thing from, just literally set a market sell order and you’ll absolutely get buyers all the way down and easily clear most if not al of the coins at nearly the current price.
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Feb 22, 2021 11:54
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Uranium 235 posted:Because you can get more money out if you don't gently caress over the market by selling it all at once like an idiot I’d rather have $200 million in my youth savers checking account right now than attempt to navigate a brand new world of lawyers and screwjobs hoping to get $300 million later, all the while btc is doing its thing and could crash 90% because the wind blew wrong.
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Feb 22, 2021 11:59
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I wouldn't worry about crashing BTC, but how does the exchange settle all that cash? Who runs such an exchange? We've been used to dealing with licensed brokers and banks for so long, we might tend to think anything that labels itself an "exchange" is run by well manicured Wall Street types, and not some desert libertarians who sees this windfall as their chance to yolo off to the Caribbean and prove to Elon that the Earth is flat using weed and the world's biggest potato gun.
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Feb 22, 2021 12:14
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Hmm, everything is down pre-market, 55 posts since midnight - wonder what's going on? Ahh, begging for fake money. Carry on.
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Feb 22, 2021 13:03
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You guys chase that fake Bitcoin dude, meanwhile I’m going to cuddle up to the goon with boxes of Moxes.
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Feb 22, 2021 13:08
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Jalumibnkrayal posted:You guys chase that fake Bitcoin dude, meanwhile I’m going to cuddle up to the goon with boxes of Moxes. BTC is way more liquid and harder to crash than the power market. I sold off my power a couple years ago because the fakes are getting extremely good. Another couple years and they may be indistinguishable outside a lab.
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Feb 22, 2021 13:18
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leper khan posted:I sold off my power a couple years ago because the fakes are getting extremely good. Another couple years and they may be indistinguishable outside a lab. I've had a bb power set since last playing in ~2006 and am worried about that exact thing lol Did you get them graded/authenticated? And sell to individuals, or use a middle man? I'd put the money into GME so this is tangentially related ok
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Feb 22, 2021 13:27
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Tetramin posted:I’m pretty small time, but I’m holding more than I want to, I would rather be betting bigger on the stuff I feel good about and am paying close attention to. I think Monday I’ll be selling some of my holdings so I can get in for more on the ones I like, even tho I’m profitable on a couple of them. Reasonable? Stupid? You should keep track of what % your single stocks and risky bets are of your total portfolio. Give yourself a budget, maybe 10%. If it grows much beyond that, sell off and re-invest in a total market fund.
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Feb 22, 2021 13:29
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Nosre posted:I've had a bb power set since last playing in ~2006 and am worried about that exact thing lol I bought them originally from reliable sources and independently verified them using all the normal methods (or cracked them from BGS coffins). When I moved there wasn't a vintage scene so I wasn't using them anymore anyway. Got friendly with a local shop owner some co-workers had known for years, sold them on a commission with a floor on the prices. Collectively I sold everything for more than I paid for it, I think the shop sold it all to one person. Took about two months from delivering the power to getting a phone call to pick up my money. edit: as an amusing aside, I marked up the cost of my ruby by the cost of the Dremel I had to buy to free it from its prison. I think I've used it once since. leper khan fucked around with this message at 13:42 on Feb 22, 2021 |
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Feb 22, 2021 13:38
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paternity suitor posted:You should keep track of what % your single stocks and risky bets are of your total portfolio. Give yourself a budget, maybe 10%. If it grows much beyond that, sell off and re-invest in a total market fund. I'll get back below 10% soon enough. 
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Feb 22, 2021 13:44
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Nice, thanks. I've been away from the area for years (I'm in the EU, and COVID...) but definitely want to spend a few months doing that when I can Now back to electronic stocks discussion instead of cardboard stocks
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Feb 22, 2021 13:46
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paternity suitor posted:You should keep track of what % your single stocks and risky bets are of your total portfolio. Give yourself a budget, maybe 10%. If it grows much beyond that, sell off and re-invest in a total market fund. Yeah good advice. I think I'm gonna do something like that for a long term plan.... assuming I don't lose a ton on my stocks...
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Feb 22, 2021 13:55
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My neighbor passed away and it turned out he was a hoarder. (Kept a very neat exterior, so wouldn't have thought it'd be a tinder box inside). I scored some hi-fi vintage speakers that got left out for trash collection (well, it was three sets of speakers). All this bitcoin chat makes me think I should have taken the 100+ loose hard drives and 50+ that were still in towers. Would've paid my mom's student loans with half a buttcoin. 
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Feb 22, 2021 14:06
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Congrats to the goon who definitely didn't win the bitcoin lottery. Just like OJ didn't kill Nicole. *WINK* Seriously: good luck, buddy. Anyway, there's a Bloomberg rumor that Lucid/CCIV is being announced tomorrow with a $15 billion valuation. Pre-market trading looks like it's back around $60.
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Feb 22, 2021 14:12
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Mr. Pizza posted:its cool how this is impossible for vast swathes of
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Feb 22, 2021 14:18
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Tortilla Maker posted:My neighbor passed away and it turned out he was a hoarder. (Kept a very neat exterior, so wouldn't have thought it'd be a tinder box inside). Now you are the hoarder, congrats.
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Feb 22, 2021 14:19
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Uranium 235 posted:I would register accounts on every US-based exchange that you can withdraw USD from (Coinbase Pro and Gemini, not sure if there are others) and begin transferring smaller sums, maybe 50 or 100 BTC, at a time. I would sell those in chunks on each exchange throughout the day. Maybe 10-20% at a time. This helps the market absorb your sales without taking too much liquidity from the order books. How do you explain this money to the authorities/IRS though? How likely is it that someone comes investigating if you just declare it as capital gains or income or whatever and then you get into a whole legal quagmire trying to prove that source of the bitcoins?
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Feb 22, 2021 14:52
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GABA ghoul posted:How do you explain this money to the authorities/IRS though? How likely is it that someone comes investigating if you just declare it as capital gains or income or whatever and then you get into a whole legal quagmire trying to prove that source of the bitcoins? You pay taxes on the bitcoins. Someone in the BWM thread helped one of their clients go through this a few years back and it was not an insurmountable hassle.
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Feb 22, 2021 15:00
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Kraftwerk posted:Guys slow the gently caress down. If I gave that impression, I sincerely apologize. I don’t have that sum of money. I just wanted to know what people could do to convert it into safe assets without getting murdered. https://www.napfa.org/ Get yourself an advisor whose job is aligned to the needs of the client and not their own bottom line.
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Feb 22, 2021 15:17
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drunken officeparty posted:I’d rather have $200 million in my youth savers checking account right now than attempt to navigate a brand new world of lawyers and screwjobs hoping to get $300 million later, all the while btc is doing its thing and could crash 90% because the wind blew wrong.
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Feb 22, 2021 15:18
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GABA ghoul posted:How do you explain this money to the authorities/IRS though? How likely is it that someone comes investigating if you just declare it as capital gains or income or whatever and then you get into a whole legal quagmire trying to prove that source of the bitcoins?
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Feb 22, 2021 15:20
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RIOT, MARA, CCIV, SAVA, PLTR all look interesting for potential volatility today
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Feb 22, 2021 15:21
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Bitcoin is plunging this morning. I hope the poster earlier in this thread really did dump a bunch of coins if he had them.
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Feb 22, 2021 15:24
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I saw a commercial to invest in the InvescoQQQ fund over the weekend. Is it weird that ETFs themselves now are advertising to buy into them?
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Feb 22, 2021 15:28
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CNBC has had ETF ads for quite a while, haven't they?
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Feb 22, 2021 15:33
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GABA ghoul posted:How do you explain this money to the authorities/IRS though? How likely is it that someone comes investigating if you just declare it as capital gains or income or whatever and then you get into a whole legal quagmire trying to prove that source of the bitcoins? Why would you need to explain anything? It’s not illegal to own or sell bitcoins. You just pay the taxes and go on your way.
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Feb 22, 2021 15:50
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Elephanthead posted:Now you are the hoarder, congrats. Or maybe I flipped them for mad money. 
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Feb 22, 2021 15:56
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