Buying Altcoins/Bitcoins and investing in the stock market

[dougdirt]

I got it at 7 PM.

Very strange.

Sounds like Doug might be selling his bitcoin tomorrow and taking the profits and buying some Christmas presents for people.

[R_Webb18]

I'm new to this as well

Spent $200 just try it out

$100 bitcoin
$75 ETH
$25 litecoin

I bought the litecoin for around $100 so had about 25%. When it hit $250 I sold it because thought it drop and didn't really know what I was doing. I guess I was semi wrong as it has gone up more but now starting to come down but still above $250.

I'd like to take a gamble on some smaller coins but little confusing on how to buy them.

[wolfboy]

I'm new to this as well

Spent $200 just try it out

$100 bitcoin
$75 ETH
$25 litecoin

I bought the litecoin for around $100 so had about 25%. When it hit $250 I sold it because thought it drop and didn't really know what I was doing. I guess I was semi wrong as it has gone up more but now starting to come down but still above $250.

I'd like to take a gamble on some smaller coins but little confusing on how to buy them.

I was in on LTC at ~$56. It's been a nice week.

[redsfandan]

I'm curious about how the latest tax reform and the vote on net neutrality could mean for everyone and the markets. The tax reform should, obviously, help the markets but sometimes there are unintended consequences. And the vote on net neutrality will, not only affect all of us, but will affect companies in different ways.

[redsfandan]

I've become aware that there's a thread in another forum regarding net neutrality. So, I hope that people understand that I brought it up in this thread because of the effect it could have on the markets (specifically, certain companies).

[wolfboy]

Just curious if many folks have moved outside of the Coinbase 3 into other alts? I've done quite well with XVG, XRP and ADA.

[Boston Red]

So some company called the Long Island Iced Tea Company announced that they were changing their name to Long Blockchain Corp, and their stock went from $2.50 to $10 last time I looked in pre-market trading. Talk about silly season.

Looked again, and apparently it was over $15. LOL And in actual trading back down to $8.60. There's some volatility for you!

[dougdirt]

What a time to be alive!

[redsfandan]

Doug, no idea what your long-term plans are, but the first best thing you could do for yourself is open up a Roth IRA and buy index funds. Put the max in the Roth if you can afford (currently $5,500 per year).

Want to keep it really simple? Buy three index funds. Put one-third of your Roth money in a US total market index fund, one-third in an international index fund and one-third in a bond index fund. Dollar cost average once or twice a month into those three funds. Rebalance once or twice per year.

Do that for 30+ years, and you'll accomplish two things ... 1) you'll outperform 80-90 percent of financial professionals, and 2) you'll have a barrel of money.

As for bitcoin, I haven't bothered and I don't lose sleep over it.

Sure it is. But it's also just a flat guess if those tilts will over-perform.

The portfolio I referenced above in my very first quote was a Bill Bernstein portfolio earmarked toward absolute newbies, which Doug indicated he was. I don't follow those exact allocations myself (though I'm close). But if someone doesn't know what they're doing that's an easy way to beat 90 percent of investors while knowing nothing and spending about 15 minutes per year managing things.

I wanted to quote your posts again for one reason. Not everyone is into investing. Some pepple are into computers, some into cars, some into crafts, everyone is different. Investing is all about risk and some people are more risk tolerant and some are more leery about risk when it comes to something like retirement savings. That makes sense. Trying to lessen the chances of worrying about finances when we're retired is important.

So, I was thinking that maybe, a 'newbie' should start out with putting their money into something like a 2020, 2030, or 2040 target fund to help them get used to how the market goes up and down and then figure out from there what they want to do.

[Redsfaithful]

I just saw Bitcoin fluctuated 30% this week. Ethereum / Litecoin similar.

Kudos to the people who have the stomach for this kind of thing.

[Will M]

I wanted to quote your posts again for one reason. Not everyone is into investing. Some pepple are into computers, some into cars, some into crafts, everyone is different. Investing is all about risk and some people are more risk tolerant and some are more leery about risk when it comes to something like retirement savings. That makes sense. Trying to lessen the chances of worrying about finances when we're retired is important.

So, I was thinking that maybe, a 'newbie' should start out with putting their money into something like a 2020, 2030, or 2040 target fund to help them get used to how the market goes up and down and then figure out from there what they want to do.

target funds are good for people who don't have the time or don't want to take the time to learn about investing. they are a common 401k or 403b option because a lot of people are like this.

p.s. Dan, your mailbox is full.

[Cyclone792]

I wanted to quote your posts again for one reason. Not everyone is into investing. Some pepple are into computers, some into cars, some into crafts, everyone is different. Investing is all about risk and some people are more risk tolerant and some are more leery about risk when it comes to something like retirement savings. That makes sense. Trying to lessen the chances of worrying about finances when we're retired is important.

So, I was thinking that maybe, a 'newbie' should start out with putting their money into something like a 2020, 2030, or 2040 target fund to help them get used to how the market goes up and down and then figure out from there what they want to do.

Absolutely, target date funds are another viable option for a newbie (or someone not into investing).

My whole point was really that the most important thing a person can do is regularly invest a healthy percentage of their income (say a minimum of 15 percent) into a well-diversified portfolio, particularly one that's close to market weights. The three fund portfolio accomplishes that. Same with target date funds.

But stuff like bitcoin or even individual stocks doesn't accomplish that.

What's really sad is that such a large percentage of people just don't understand this stuff or even bother trying to understand. It's not like this stuff is all that difficult. And just a few simple, key financial decisions made early in a working career can ultimately be the difference in living paycheck-to-paycheck vs. becoming a millionaire.

[WrongVerb]

Nm

[redsfandan]

Absolutely, target date funds are another viable option for a newbie (or someone not into investing).

My whole point was really that the most important thing a person can do is regularly invest a healthy percentage of their income (say a minimum of 15 percent) into a well-diversified portfolio, particularly one that's close to market weights. The three fund portfolio accomplishes that. Same with target date funds.

But stuff like bitcoin or even individual stocks doesn't accomplish that.

What's really sad is that such a large percentage of people just don't understand this stuff or even bother trying to understand. It's not like this stuff is all that difficult. And just a few simple, key financial decisions made early in a working career can ultimately be the difference in living paycheck-to-paycheck vs. becoming a millionaire.

I don't think it's that surprising, though. Investing can be intimidating to someone that isn't familiar with it or that isn't into it. I don't think it's realistic to think that everyone should be into things like this. But, I don't think that's important either. I think what's important is that they do SOMETHING even if it's something simple (like just making contributions and putting the money in a target fund) or going someplace like Schwab or Fidelity for help. But, a lot of people don't even try to get help. Now THAT'S sad.

[wolfboy]

My XVG play money is up over 1,400%.