General thoughts on crypto? Bull/bear?

like
Posting as :
works at
You are currently posting as works at

It’s cool but people who claim that it’s the future of everything and every company needs to convert all cash on its balance sheet to crypto are annoying and reek of self-importance

like

I’m long ETH with money I’m willing to lose

like

Same but with other coins

like

Flip a coin.
If coin is correct, you gain.
If coin is wrong, at least you have the coin to buy you a loaf of bread.

Buttcoin ftw

Depends on what you believe the use case is, if you’re super libertarian and think it will replace government money then i have nothing more to say than you’re an idiot. But as a store of value, especially for people living in despotic regimes it’s actually pretty good. Crypto as currently designed is basically digital gold. The thing to think about if you’re trading this stuff is what price level would your cryptocurrency of choice be at if all speculators left and only long term holders remained.

Too early to tell. Park some funds here after a pull back or DCA at least 2-10percent of your networth in the more viable crypto .

Now that the asset class is gaining institutional support, it seems like a good time to invest relative to other options. Cyber security incident risk is scary. I think one can attempt to mitigate this using stop loss orders, etc.

Bear

1. The utility still isn't close to being demonstrated (store of wealth applies to literally anything)

2. Half the market is bankrolled by Tether which claims to be backed 1-1 but has never proven it, lives in the Bahamas, and been fined by the US for lying about its assets

3. I can't see how the market could ever successfully be regulated given how fundamental the anonymity of accounts and right to transact are

4. The asset requires a huge energy intensive digital infrastructure (the miners) to remain secure and in existence. The more the coins are worth, the bigger this infrastructure needs to get.

Then again, things don't have to be logical to be successful. I'm just going to steer clear on this one.

Related Posts

I have about £100k sitting in my savings account, most of it I likely will not need in the next 5 years or even 10. Any advice on where I should put it to generate some additional income?

like

Is it worth opening up a new 401(k) with my new employer if the fund choices suck because it’s a small third-party retirement provider? Don’t want to miss out on free money from the match.

Already have an existing 401(k) from my old employer just sitting around right now in Fidelity.

like

Hi all- I’m new to real estate investing. What are some books/ reading materials you would recommend to learn about selecting the right investment property, things to look out for, laws etc.?

like

Almost half a year passed and my net worth is still about the same as at the end of last year. Tired of waiting for the market to bounce back

like

What is driving this weeks market dive? At least for tech stocks

like

New to investing, what % of my investments should be in crypto vs normal? Any other tips? Age - Early 30s in the UK

like

What other cards to add to my collection? I have AmEx Platinum and Chase Sapphire Reserve. Fly Delta so AmEx is handy for lounges. Use Sapphire for dining/travel. Should I add Chase Freedom Unlimited?

like

Sorry to everyone who has a big stake in Meta stock

like

Health insurance as a freelancer: has anyone found a way to stay off the exchange? (In NY)

US Short term capital gain question:
If I get stocks A & B at $50. In a month I sell one at $25 and the other at $75, do I still owe tax?

For those of you with kids, curious how much you're saving for college tuition? I'm putting away $800/month/kid into 529s but still not sure whether it will be enough, hard to find good info.

like

Buying my first home and have enough saved up in savings and investments to pay 20% down. Does it make sense to pay 20% down or is 5% the way to go?

like

Know any good individual tax accountants that do QSBS in San Fran

like

Anyone enjoy being a realtor just to view different homes? Lol

like

My crypto is 100% BTC and has obviously grown nicely. I am debating allocating 15% or so to ETH, but I just feel comfortable with BTC. What are people’s thoughts here.

like

When switching jobs does it make more sense to roll your 401k into your IRA and start your new 401k from 0? My wealthfront IRA has had better performance than any 401k Ive had.

like

I'm moving back to blighty, want to be commutable to London. Need a family home, yard for dog, etc, where would you go if you could? Max £400k for a house, good schools. I used to live in the southeast but priced out and feeling overwhelmed with narrowing down. Thanks!

like

This may be an elementary question, but my credit score just randomly dropped 20 points. I keep my utilization very low. Almost all of my financial transactions are on my credit card, and I pay everything off by each statement. One month I didn’t get a chance to pay everything off because there were some transactions made on my statement date that I was not able to pay off because they were listed as pending. This resulted in my utilization going up to 6%. My credit score did not change (cont).

like

Let’s say you hit a $1M net worth (I know, I know, not crazy high but lots for a child of bootstrapping immigrants) and decided you wanted out of the rat race and have no dependents or major obligations... where would you abscond to? I’m thinking tiny island with super low cost of living?

like

What’s a good, practical tax book to read for someone who knows nothing about taxes? I feel like I should familiarize myself with them but don’t know where to start/find the topic very overwhelming and dense even as a finance attorney. Welcome to other beginning finance book suggestions too! (Already read Kiyosaki and Ramsey)

like

More Posts

For anyone in the construction field or construction adjacent field, what is a reasonable salary to expect for an entry level project engineer or assistant project manager in Los Angeles.

like

I’ve been working for this company for 4 years. The raises I got were a few cents on the dollar per year. Over the years I have coworkers put their letter of resignation, and they get offered huge advances to stay. I was looking to do the same but very nervous. Does anyone have any suggestions?

like

Is it true EY won’t get bonuses this year?

like
like

Those of you who Juul, do you find that it’s more addictive than cigarettes and that you end up Juuling even when you don’t crave it? Suggestions on how to kick this habit ?

like

Is anyone else struggling with this job right now, having to explain our hours to normals who work normal hours? My bf works at a startup and works 9am-4pm... most days

like

In a long term relationship, marriage is on the cards but not within the next 2 years. Been cohabiting and looking to buy a home. Better to buy on a single name or joint? Also, any way to manage dependent insurance if you don’t have a joint mortgage?

like

Hi fishes, any idea if I will get blacklisted if I don't join(inform well in advance) after getting an offer from bnym. The reason is I am getting retained in my current org. Your valuable advice or suggestion will be much appreciated

like

Hello fishes ,

I know it’s very difficult to understand but what should be a salary range of a data scientist ( fixed ctc only ) for 7-8 YOE employee ?

Looking to understand for both service based and product based companies perspective .. numbers at LinkedIn salary insights seems very low

like

Hello, I have my uncle who did his MCA (Masters in computer applications) 13 years ago, he tried for job but he didn't get one so he continued with his family business, now thier business is not going great and he wants to join IT as a fresher, will companies accept him? He has knowledge on Java and Hadoop (I learnt java from him). If companies accept him which domain he can enter to start his journey again? Any referrals leads pls help him, as his situation is in very bad shape.

like

Any tips on passing the pymetrics test from BCG?

like
like

What is the hiring process in Coforge. 2nd round done on 22nd Feb for Santander project. Consultancy told mail for documentation will be share by HR, but no mail received yet. Any idea how much time it take?

uplifting

Anyone work for Berkshire Hathaway?

like

Do we get any settlement if we leave EY after 3 years?

like

Hey Fishes,

Just want to know I have provided all details of my X company to TCS for Bgv like reliving letter,.experience letter, RM contact information etc.

Still they are asking for bank statments. It's a big company they can contact them anytime do the BGC with the I have no issue. Just curious why they are asking for bank statment it's even not my immediate employer I wokred with this company 5 year ago for 6 month only and it's a big IT company still operating. Please help is it normal

like

3 days until my LWD ,working till 10:45 PM and suddenly felt odd 🤣 what am I even doing?

funnylike
like

Impetus technologies inc
Tata Consultancy

Guys i have 10.7yr exp and working as a Dotnet lead currently and have 2 offers. Which to join pls suggest.

TCS - 29lpa (including variable) +1 lakh joining bonus
Impetus -35lpa fix.

I am looking for job stability , job security and growth.

Please suggest.

like

TCSers having C3A and above band will get qva or not. Any latest news?

like

Additional Posts in Finance

Are you more hands on in the office, and take a hands off approach in your personal life, or vice versa? Some ppl are total control freaks at work and then so laid back at home. Just curious

like

Anyone know of any Snapchat channels for HF/PE? Seen a few VC's doing this with their typical day, going through deal process, Q&A sessions, etc.

like

Anyone leave banking to head to the corporate start up side? Ready to make a change in lifestyle. Want to work in finance for a fitness company and may have an opportunity

like

NYC - Anyone know what that noise is? Been going on for 5 minutes now.

like

70-80 hrs in BO / MO

Should I quit?

like

How is the sentiment at DB right now with this bonus nonsense

like

FL/TX finance people; do you feel your job opportunities are seriously limited there? I’m quite over being in HCOL area but I’m only mid 20s and worry I won’t have a good finance career outside NYC/SF/LA. Overblown concern?

like

Any other ladies have an end goal of becoming an entrepreneur? I'm looking for some inspiration whether it be in the form of books, events, whatever!

like

I'm young and in the process of switching firms. I have a vested pension close to $20k. The retirement payout doesn't interest me. Is it advisable to take the cash (w penalty) or roll it into my IRA?

like

Recently started in house legal at a credit fund and a lot of the business terms are lost on me (credit spreads, LTV, weighted avg yields, OIDs, etc). Any advice on how to brush up, books to read, videos to watch? Id like to understand what our deal team is talking about and feel very out of my element...

like

Does anyone else sometimes open really good pages you've done in the past, just to admire them?

like

Out of curiosity, what are some no-regret purchases under $500?

like

Girls: would you date guys in their 30s if you are in your early 20s? Why or why not?

like

anybody working at Deloitte, willing to give me a referral?

likesmart

If I had a 10k bonus for every upvote on Fishbowl...

like

Finance job with best work life balance / hours?

like

What was the last recession like? Who are the first to get laid off? How can we try and make sure it isn’t us?

like