What's the breaking point for Bitcoin?

[RiverRat1]

Yeah right - the guys says "not giving financial advice" - meanwhile he gives all kinds of financial advice - hope the SEC doesn't catch up to him - some of you are playing with fire

LOL

So no one is allowed to answer anyone else's question/s on how to purchase Bitcoin because that would be deemed financial advice?

Or ask anyone's opinion? We all have to remain silent until a FA chimes in, even though nearly all FA's don't do crypto?

[Playa]

There in lies part of the problem. Blockchains do advertise, to an extent. So, one of the bigger issues with Crypto can be summed up with one word..."Ripple". Now known as the ripple effect in crypto. Ripple is a crypto. They are being sued by the SEC. There is a big legal battle going on. The outcome will greatly affect regulations and how Crypto is treated.

Here's the issue:

The SEC regulates Securities. Crypto is NOT a security, therefore is not regulated by any governing body. Well, the SEC is making a claim that the Ripple crypto is in fact a security and should be regulated just like a stock is.

So, here is the SEC's argument. They argue that the Ripple crypto was issued by Ripple and Ripple is marketing it and encouraging its increase in value, thus benefitting Ripple, therefore it is a security. Basically, if a Crypto company can promote to increase the value of their crypto and they benefit from that, then it is a security.

So, one reason you don't see many blockchains advertise too much is the avoidance of that issue. They don't want to be seen or regulated as a security.

I know several crypto companies who have set up "Foundations" that are separate entities. The Crypto company gives them a large amount of crypto. The Foundation then goes out and gives "grants" to companies to help them develop on the blockchain platform and market the blockchain and crypto on behalf of the Crypto company. Since they are two different entities, the crypto can remain separate from a "security" since it is the foundation who is doing all the work to increase the value. Yes, the crypto company benefits, but they are not the ones driving the increase.

Too much?

Speaking Ripple… Genesis and their parent company appear to have taken a kidney shot in the FTX fraud/scam dust up… lots of crypto brands in this sphere

https://youtu.be/GWof6n1srKg

I’ll never understand how these kids pulled the wool over so many eyes

[Huntingfool]

LOL

So no one is allowed to answer anyone else's question/s on how to purchase Bitcoin because that would be deemed financial advice?

Or ask anyone's opinion? We all have to remain silent until a FA chimes in, even though nearly all FA's don't do crypto?

so when someone says "I am not giving financial advice" but then proceeds to do so it is a red flag - WHY DO THING HE STATED THAT FIRST THING? BECAUSE HE KNOWS IS IT NOT ALLOWED.
I have had a securities license for over 30 years - really good way to get your *** sued - and YES remain silent before providing financial advise unless you are licensed - Does not matter if FA's do crypto or not - it is still offering financial advice without a license - but Dude - you go right ahead - cannot argue with someone who already knows it all - oh and please list your education and background in securities

[RedYote]

I started buying up some BITO since its under $10.

[RiverRat1]

so when someone says "I am not giving financial advice" but then proceeds to do so it is a red flag - WHY DO THING HE STATED THAT FIRST THING? BECAUSE HE KNOWS IS IT NOT ALLOWED.
I have had a securities license for over 30 years - really good way to get your *** sued - and YES remain silent before providing financial advise unless you are licensed - Does not matter if FA's do crypto or not - it is still offering financial advice without a license - but Dude - you go right ahead - cannot argue with someone who already knows it all - oh and please list your education and background in securities

Define financial advice.

If it's saying a stock should/may go up I can lead the SEC to thousands if not millions of people they can fine just on Twitter.

Is it laying out how to buy something in case someone wants to know how to buy?

And having a license doesn't mean you know more that people without one. I've traded the markets in nearly every way possible since 1992. But I have no license so...... Just admit that being a FA is mostly BS laws "protecting" investors. I love all the regulations that go along with that job. Don't get me wrong, many if not most investors need to be saved from the scammers.

[Huntingfool]

Define financial advice.

If it's saying a stock should/may go up I can lead the SEC to thousands if not millions of people they can fine just on Twitter.

Is it laying out how to buy something in case someone wants to know how to buy?

And having a license doesn't mean you know more that people without one. I've traded the markets in nearly every way possible since 1992. But I have no license so...... Just admit that being a FA is mostly BS laws "protecting" investors. I love all the regulations that go along with that job. Don't get me wrong, many if not most investors need to be saved from the scammers.

So let's put this in perspective.

YOU need heart surgery. You say to yourself "who do I want to do this?"

Someone tells you that even though they have zero education, credentials, compliance, requirements, or experience with doing heart surgery they have "studied it from the sidelines so trust me I can do this."

OR you choose a doctor who has been educated, passed multiple requirements and test, and are closely regulated to do your heart surgery?

Of course not all FA's are perfect just like not all heart doctors are perfect. But to count on your health OR financial decisions to someone who says "I have traded markets for many years" - I am sorry but for someone to put themselves out there as better than trained FS's because they have traded for years is silly. YEAH they should count on you (on a hunting forum) for their financial advice. You are playing with fire because you ARE providing financial advice on this forum. I have seen alot of "smart guys" like you disappear when things go south - night

[Huntingfool]

....................

[Hunting4fun]

So let's put this in perspective.

YOU need heart surgery. You say to yourself "who do I want to do this?"

Someone tells you that even though they have zero education, credentials, compliance, requirements, or experience with doing heart surgery they have "studied it from the sidelines so trust me I can do this."

OR you choose a doctor who has been educated, passed multiple requirements and test, and are closely regulated to do your heart surgery?

Of course not all FA's are perfect just like not all heart doctors are perfect. But to count on your health OR financial decisions to someone who says "I have traded markets for many years" - I am sorry but for someone to put themselves out there as better than trained FS's because they have traded for years is silly. YEAH they should count on you (on a hunting forum) for their financial advice. You are playing with fire because you ARE providing financial advice on this forum. I have seen alot of "smart guys" like you disappear when things go south - night

I'd take the advice from a guy who has been investing over 30 years and has consistently done well for himself over a guy who took a few courses and became a FA in the best interest of the huge company he works for. That's just me though. And BTW I have no problems with FAs as a whole. Mine gives me solid advise. He also strictly goes by the book and makes sure everything is legal.

And to compare basic investing to heart surgery is about as ignorant as it gets. Should I never work on my own car anymore and go to a mechanic that is certified because he has a piece of paper on his wall?

[BrianL]

It might come back, but I would rather bet on Google, Tesla, or Amazon and hope for a doubling or more. I've been buying Tesla last week with average cost of 172.

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[jshouse]

So let's put this in perspective.

YOU need heart surgery. You say to yourself "who do I want to do this?"

Someone tells you that even though they have zero education, credentials, compliance, requirements, or experience with doing heart surgery they have "studied it from the sidelines so trust me I can do this."

OR you choose a doctor who has been educated, passed multiple requirements and test, and are closely regulated to do your heart surgery?

Of course not all FA's are perfect just like not all heart doctors are perfect. But to count on your health OR financial decisions to someone who says "I have traded markets for many years" - I am sorry but for someone to put themselves out there as better than trained FS's because they have traded for years is silly. YEAH they should count on you (on a hunting forum) for their financial advice. You are playing with fire because you ARE providing financial advice on this forum. I have seen alot of "smart guys" like you disappear when things go south - night

not even close to the same thing.

if i wanted to choose between you two fellas for financial advice, i could ask for your average RoR over the last few years and make a pretty good decision couldnt i? regardless of what you call yourself between 8a-5p.

[Throwin Darts]

So let's put this in perspective.

YOU need heart surgery. You say to yourself "who do I want to do this?"

Someone tells you that even though they have zero education, credentials, compliance, requirements, or experience with doing heart surgery they have "studied it from the sidelines so trust me I can do this."

OR you choose a doctor who has been educated, passed multiple requirements and test, and are closely regulated to do your heart surgery?

Of course not all FA's are perfect just like not all heart doctors are perfect. But to count on your health OR financial decisions to someone who says "I have traded markets for many years" - I am sorry but for someone to put themselves out there as better than trained FS's because they have traded for years is silly. YEAH they should count on you (on a hunting forum) for their financial advice. You are playing with fire because you ARE providing financial advice on this forum. I have seen alot of "smart guys" like you disappear when things go south - night

LOL. This is laughable. Sorry bud but you're no heart surgeon of the financial markets just because you are a licensed financial advisor.

[RiverRat1]

not even close to the same thing.

if i wanted to choose between you two fellas for financial advice, i could ask for your average RoR over the last few years and make a pretty good decision couldnt i? regardless of what you call yourself between 8a-5p.

LOL - I laugh because that logic can NOT be used ever when talking to FAs

I'd look at RoR through bear markets myself though. That's where it counts most. Or at least a cycle through a bull and bear market.


On the heart surgery topic - Would Huntingfool choose the real doctor if he had a worse track record of heart surgeries over the non-degreed doctor that actually did more surgeries with a better track record of success?

And FTR - I never said all FAs are bad. Many many (probably most on TBH) mean well but they are bound by far too many regulations, restrictions, and company policies. I'd like a FA to explain to me how a publicly traded company bound by fiduciary duty to it's shareholders can, with a straight face, say they are giving clients the best deals on investments.


Wouldn't a mechanic giving advice on how to fix your own car (saving money) be giving financial advice? If they do it wrong does it not cost them more money?

[RiverRat1]

Also - If I come/came across as a perfect trader, investor, or whatever I apologize. There are times I think I'm the worst. Markets are super tough to trade these days as it seems there's no logic behind any move anymore.

I just know buying and holding forever sometimes hurts people it's intended to help. There are bigger pictures to look at.

BrianL - I'm sure TSLA, AMZN, GOOG have a far better chance at doubling than BTC. But it's risk/reward. My guess is if Bitcoin doesn't die it does the same type run it has always done or 12-15x (off bottom) So if there's a 30% chance Bitcoin goes 12x it's a far better gamble than the 80-90% chance AMZN goes 2x. That's my math anyway But I own AMZN through mutual funds anyway. And own zero BTC right now

[trackman]

I can't understand cryto at any level!!! Buy oil stocks!

[rtp]

I can't understand cryto at any level!!! Buy oil stocks!

I bought my oil stocks 18-24 months ago. They have done pretty good. [emoji3]

I don’t own any Bitcoin currently either. I’m just sitting on the sidelines again watching. I will be buying again at some point.


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