All things STOCKS

#19,928
#19,928
Vol737 said:
I've studied it a good bit lately, don't own any, but just trying to get my arms around it. First, it's cumbersome wrt getting your crypto off of an exchange and into a decentralized/cold wallet. I keep reading where people buy crypto on an exchange and then the exchange will not let them move their crypto to their cold wallet and in some cases will not let you sell your crypto. You have to write down the "keys" which are up to something like 26 words, store those in your safe or somewhere safe. If you lose those key words, misspell a word or simply don't write down one of the words, you will not be able access to your crypto. Exchanges are hackable and North Korea stole a record $2B in crypto last year from various exchanges. Also, from what I can tell, cold wallets do not work/sync with every crypto exchange out there and every exchange doesn't necessarily sell all cryptos. I'm having a harder time seeing how the general public at large will be able to function with crypto as a general currency.
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IBIT is an ishares ETF, so you can get some exposure to bitcoin and not have to worry about a wallet.
 
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#19,929
#19,929
@1RBFjr said:
IBIT is an ishares ETF, so you can get some exposure to bitcoin and not have to worry about a wallet.
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Yes, I've looked at IBIT. Of course, it's been tanking pretty hard too. I have both a Fidelity and Schwab account. Fidelity offers some cryptos and storage. Seems like that would be the simplest route for actual crypto for me, assuming they can keep their platforms secure.

Edit: I see IBIT is around $38. Six months ago it was low 70s. I may watch it some more. May not hurt to start taking a small position in it. Given the nature of BTC and it's wild swings, it's likely to have a wild swing back to the upside in the future.
 
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#19,934
#19,934
05_never_again said:
I don't know if I've seen sentiment around crypto this bearish, maybe ever. Including the other 80-90% declines it has had. Surely we're near some kind of near-term (at least) bottom.
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Seems to me that the bottom should be $0.00 for all cryptocurrencies. Another get rich scheme from a non tangible product.
 
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#19,938
#19,938
Vol423 said:
First good day in the market in quite a while, and nobody is talking about it.
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As long as sentiment keeps turning instantly and dramatically bearish with every pullback, even pullbacks of 2-3%, it is hard for me to get bearish. I know many individual stocks have gotten killed, and if you're in those it feels worse, but so many people have "this is it!!!!" moments with every tick down.

Where are the "this bull market is defective because it is led by 7 stocks" people now? MAGS has gone nowhere since mid-September and is off about 9% from its all-time high, yet the S&P is up 5.2% over that same period and is only 1% from the all-time high.
 
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