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Investing - the stock market and more


KenjiOgiwara

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8 minutes ago, DCJonah said:

Is it worth investing in Bitcoin or has that ship sailed now? 

Impossible to say, it’s all powered by make believe and built on sand. It could surge again, or it could absolutely sink like a stone (relatively speaking). 
On Sunday it was £41k, Tuesday it was £31k, now £34k.

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1 hour ago, Genie said:

My TUI Stocks up over 10% in about 3 days.

Almost enough money to buy a panini and small can of Diet Coke on one of their flights.

It’s looking good at the moment isn’t it? Up 50p from £4-£4.50 today alone. There will be the inevitable sell-off tomorrow, but I’m optimistic if the public see all the holidays being booked, which will give them the confidence to book theirs. I’m hoping for another set of gains.

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3 minutes ago, Wainy316 said:

Gone up a further $33 after hours!

I read quite a few of the detailed posts on WSB. If you cut through all the ‘Apes holding’, ‘Diamond Hands’ and Rocket emojis, there are clearly some people who know their stuff on there. 

I don’t understand all of it, but they were adamant the short interest hadn’t been covered and some were arguing it had potentially gotten worse. 

I’ve made a little bit today, but I got in too high a couple of weeks ago and was scared to hold on for too long! 

Interested to see what tomorrow brings. 

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Short interest is actually public info everywhere so it's easy enough. The problem is that there's a delay between transactions and reporting. So shorts can theoretically be covered when you take your position.

But generally speaking I suspect Reddit are just looking at the shorts position and volume, thus deduct what's going on.

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On 24/02/2021 at 14:38, DCJonah said:

Is it worth investing in Bitcoin or has that ship sailed now? 

I thought the ship had sailed at £10k so never bothered investing! 

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13 minutes ago, HanoiVillan said:

A different question re Bitcoin is not just 'will I make money' but 'should I, from a moral perspective, invest in this'.

It is absolutely destroying the planet.

I know you have, but have you seen the amount of computing power which is required for data mining?!!

The yield from setting a home-made on is about 8% AFTER your electricity bill. 

As you say - put an end to it and save 100m tonnes of carbon via power stations needing to supply the grid! For digital money! 

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10 minutes ago, lapal_fan said:

I know you have, but have you seen the amount of computing power which is required for data mining?!!

The yield from setting a home-made on is about 8% AFTER your electricity bill. 

As you say - put an end to it and save 100m tonnes of carbon via power stations needing to supply the grid! For digital money! 

Yeah, my thoughts exactly. The product is worthless in anything except financial terms; it offers no benefit to human civilisation, and massive amounts of harm, and I just can't handwave that away and think 'yeah yeah but I'll make money'.

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10 minutes ago, lapal_fan said:

I know you have, but have you seen the amount of computing power which is required for data mining?!!

The yield from setting a home-made on is about 8% AFTER your electricity bill. 

As you say - put an end to it and save 100m tonnes of carbon via power stations needing to supply the grid! For digital money! 

I read that recently it was a bigger energy consumer than Ecuador.

Its not necessarily crypto that’s the problem but blockchain. I’m very skeptical on Bitcoin to be honest. I’ve used it once (for what most bitcoin transactions are used for) and it was hugely expensive in terms of transaction fees between wallets and purchasing. Seems like a Ponzi scheme. 

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1 hour ago, a m ole said:

I read that recently it was a bigger energy consumer than Ecuador.

More than Argentina, was the most recent comparison I saw. Not only that, but most of the 'mining' is done in China where the grid is largely powered by particularly dirty coal-fired power plants.

Edited by HanoiVillan
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2 hours ago, HanoiVillan said:

most of the 'mining' is done in China where the grid is largely powered by particularly dirty coal-fired power plants.

Greta needs to be protesting in Tiananmen Square about this. 

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4 hours ago, lapal_fan said:

I know you have, but have you seen the amount of computing power which is required for data mining?!!

The yield from setting a home-made on is about 8% AFTER your electricity bill. 

As you say - put an end to it and save 100m tonnes of carbon via power stations needing to supply the grid! For digital money! 

I read that mining Bitcoin is using more energy than the entire country of Argentina.

Edit: I’m much to late with that fact

Edited by Genie
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