Trying to make money trading crypto.Dumb or stupid?
>>34778937I think you might be a couple years too late for that.
>>34778937I believe it’s dumb. Someone is making money from the trading and that’s the middleman. You shouldn’t buy just to get rid of it. If you believe in bitcoin or other crypto, buy and hold. You can use your holdings as collateral to spend borrowed money while yours matures. There’s other things you can do, but the idea is to not sell. It is a much better time to get into it than it was a year ago. A good second chance for latecomers.
>>34779263>>34778950What about stocks?
>>34778937there's illegally but allowed insider trading and people are using ai to make micro trades all day and night on the stock market. the likely verdict is that you will lose.with any investing you have to imagine the money burning in your hand, because it's gambling with a suit attached (or tech wear if you're a crypto fag).the only type of trading i'd do is if you were well-read on a company that you thought 5-10 years from now was going to grow and invest in that. in particular, for more consistent companies like google, walmart, amazon, invest after the economy has fully crashed.we're currently in a clown cycle where most the economy is held up by ai though and unless it achieves AGI (it likely wont soon), expect a massive crash soon even with the old reliables.this will give you some perspective on our current bubble:https://isaiprofitable.comi'd say right now is a bad time overall. but again, it's gambling. so are you a gambler, anon?
>>34779362>using AIHow? whenever I ask chatgpt or claude they give me bullshit disclaimers saying theyre not a financial advisor and they refuse to help
>>34779400im pretty sure it's automatically trading for them by perceiving patterns in trading from each day.this is advanced shit and not someone asking the internet.if i wanted financial advice i'd go to the /bant/ financial/trading thread since you can't read flags on /biz/ so you have to assume everyone there is from india and trying to scam you.what i'm trying to say though is big companies are using illegal ways to rig the market, and you're the idiot they're rigging money from.the only crypto's that i'd toss money into is bitcoin, but sadly you have to ask yourself if it really has a use other than a hedge against inflation. there will probably be some crypto at some point to work as an alternative but i dont see it yet. monero works for illegal shit but it uses too much energy to function. everything else is speculative to me. and even if something proves to have a function better than bitcoin i can see that going the way of the whale as well. i think its survival is because most the market is shitcoins and since every economy is running on inflation and modern monetary theory that a dollars worth is constantly declining.other people just invest in gold/silver for that reason.
>>34779427I always thought Monero was the best crypto because it has actual utility and a solid foundation. I made good profit holding that in the last few years but that didn't last forever, and now I've been out of the loop as it looks like most people moved on to AI or back to Bitcoin. Man I really need to figure out this AI stuff.
>>34778937It's not dumb or stupid but you need to know the space to make money off of it. For example there was a brief period where I was making like 800 dollars every day for a long time as a retarded dumb fuck by just riding pump fun jeet scams.. Crypto is not solved like the stock market so there is a lot of room in the market to etch out money
>>34779344What about em?
>>34781884Is it any better than crypto shit?
>>34781936no. i told you yesterday. everyones putting money in AIwhen ai bubble blows, it's over.governments are dumping money to keeping the economy looking just fucking taffy. all it does is inflate the dollar. it's a clown economy blowing up like circus balloons.last recession was what? 18 years ago? a recession should happen every decade. we're overdue.there's no up and coming amazon i'd say to invest in.if you want more go to the /bant/ investment thread. they might know some small surefire stocks that will grow
>>34781948How do I put my money in AI? I want that bubble money...
>>34782424https://isaiprofitable.comyou're too lateyou can see the ai companies are cutting back already because it's not replacing every job like they said it wouldthe only profitable ones are the Levis who sell the tools to the AI companies (GPU sellers).but if the bubble bursts the gpu sellers will also.
>>34778937The people who make money as traders have worked on trading full-time for 10 years. It's not different or easier than just having a regular job.
>>34782444what he said. and like i mentioned, go to /bant/>>>/bant/24759684
>>34778937Crypto trading isn't investing, it's gambling.
>>34781936What’s it matter? Download an application such as robinhood and get everything your are interested in. Using the word crypto is your first misstep. Do not goof with meme coins. The whole market revolves around Bitcoin. There’s arguments for some of the top quality coins like eth, sol, clash, etc, but unless you have use for them or interest in them, just get bitcoin. You do not need to pick bitcoin vs stocks. Get both. They grow in different ways. As well as stocks and bitcoin, you can get electronic representation of gold on paper. All on an application like robinhood and get, fidelity, whatever. Don’t pick stocks. Let the big wigs figure that out. Get funds that are already picked. QQQ is tech heavy. VOO is the top performing companies. SCHD is focused on paying dividends that you automatic DRIP dividend reinvestment plan right back into the same stock. On a smaller scale, in addition to the generic funds, you want to goof around and find metals, energy, resources, boring stuff that is always getting used regardless of the economy. This is to counteract any weirdness in the big brand funds. Similarly; small cap and mid cap companies may perform well when the big ones are in trouble. You want to balance all that according to your risk tolerance and impatience. Get everything. If you want a quick buck without the fuss, bitcoin is likely to double in six months. Gold may triple. They are both down as hell compared to last year. On sale. That may not be as good in the long run as compounding interest in the market. Diversify
>>34783689Here’s the UN’s ten economic areas to consider when hedging your bets.Agriculture, Forestry, and Fishing (Primary Sector)Mining and Quarrying (Primary Sector)Manufacturing (Secondary Sector)Construction (Secondary Sector)Wholesale and Retail Trade; Repair (Tertiary Sector)Transportation and Storage (Tertiary Sector)Accommodation and Food Services (Tertiary Sector)Information and Communication (Tertiary/Quaternary Sector)Financial and Insurance Activities (Tertiary Sector)Real Estate, Professional, Scientific, Technical, Administrative Services, Public Administration, Education, Health, and Arts (Tertiary/Quinary Sectors)
>>34778937You probably don't even have an idea how normal stock market works.Stay the fuck away from that volatile shit.
>>34783689>>34783705Interesting. Thank you, anon!
Should I sell my BTC (about $3000’s worth, all from getting $5 for free in 2012) to pay off my credit card debt?
>>34785366how much debt and whats the interest on it?
