Tether looks like a scam based on this Article

[SOL]

Btw, your hashtag/signature is gonna get you in trouble when it comes to investing.

I modified the signature this morning after seeing SOL's response that stock graphing is an art rather than a science. I find that premise hard to accept.

And that is why no offence intended you are a good contrarian indicator. It is also why even the best of mathematicians have failed to come up with a black box system that works. TA will remain useful as long as the vast majority look at it through the eyes of something that can learnt by utilising logic. I have yet to meet anyone that uses logic when it comes to TA and the markets that does well. You see when you use logic, the logical move is to panic when the market's pullback strongly

Logic and investing equate to pain and misery, generally speaking

[Triplethought]

Btw, your hashtag/signature is gonna get you in trouble when it comes to investing.

I modified the signature this morning after seeing SOL's response that stock graphing is an art rather than a science. I find that premise hard to accept.

And that is why no offence intended you are a good contrarian indicator. It is also why even the best of mathematicians have failed to come up with a black box system that works. TA will remain useful as long as the vast majority look at it through the eyes of something that can learnt by utilising logic. I have yet to meet anyone that uses logic when it comes to TA and the markets that does well. You see when you use logic, the logical move is to panic when the market's pullback strongly

Logic and investing equate to pain and misery, generally speaking

I totally accept that there is no logical way to predict the future. However if you're looking at charts and seeing meaningful patterns (overbought or oversold), and if those predict a buy/sell I can't see why those skills can't be taught to another person who has the ability to understand (or to an artificial intelligence). I've been relatively good at not panic-ing on strong pullbacks. However there also haven't been any "real" pullbacks since I've been actively managing the portfolio in the last year.

[SOL]

I totally accept that there is no logical way to predict the future. However if you're looking at charts and seeing meaningful patterns (overbought or oversold), and if those predict a buy/sell I can't see why those skills can't be taught to another person who has the ability to understand (or to an artificial intelligence). I've been relatively good at not panic-ing on strong pullbacks. However there also haven't been any "real" pullbacks since I've been actively managing the portfolio in the last year.

I will let young Master Yoda and Yodean answer the above question. Or anyone else that has been using TA for a while.

[Yodean]

I totally accept that there is no logical way to predict the future. However if you're looking at charts and seeing meaningful patterns (overbought or oversold), and if those predict a buy/sell I can't see why those skills can't be taught to another person who has the ability to understand (or to an artificial intelligence). I've been relatively good at not panic-ing on strong pullbacks. However there also haven't been any "real" pullbacks since I've been actively managing the portfolio in the last year.

@YoungAnakin: actually, I was thinking, if it's okay with YY, who is setting up what I call the "One-Niner Club Chat," and is thereby the boss of this club, you may want to join in for whenever that chat is first opened.

I understand that the purpose of the "1/9er Club Chat" is not just to talk about finances or TA - I suspect there will be lots of discussions bordering on the weird, wonderful and miraculous - but we could probably work in some TA and finances if it's okay with YY.

Some of the questions you ask about TA is probably easier to answer in real-time chat, as opposed to the forum format.

[AstuteShift]

I modified the signature this morning after seeing SOL's response that stock graphing is an art rather than a science. I find that premise hard to accept.

And that is why no offence intended you are a good contrarian indicator. It is also why even the best of mathematicians have failed to come up with a black box system that works. TA will remain useful as long as the vast majority look at it through the eyes of something that can learnt by utilising logic. I have yet to meet anyone that uses logic when it comes to TA and the markets that does well. You see when you use logic, the logical move is to panic when the market's pullback strongly

Logic and investing equate to pain and misery, generally speaking

I totally accept that there is no logical way to predict the future. However if you're looking at charts and seeing meaningful patterns (overbought or oversold), and if those predict a buy/sell I can't see why those skills can't be taught to another person who has the ability to understand (or to an artificial intelligence). I've been relatively good at not panic-ing on strong pullbacks. However there also haven't been any "real" pullbacks since I've been actively managing the portfolio in the last year.

@SOL baby Yoda

Honestly comes down to the old adapt or die and also mass psychology principles, anything standard will become useless

You can use old TA but you will always wonder why something happens, hence SOL warned long ago TA is dying compared to MP

MP is always king, so customize systems to meet your needs.

SOL actually has given multiple times his system in his updates. To be fair it has taken me a long time as well but laughed when really the answers you seek is right in front of you once you remove filters

[Yodean]

“The State of Crypto in Singapore Report 2021,” conducted by crypto exchange Gemini in partnership with CoinMarketCap and Seedly, found that more than two-thirds of Singaporeans who have financial investments currently hold crypto.

The report, which sampled 4,348 Singapore-based adults who self-identify as having or being interested in personal finance and investment products, shows that 67% of the respondents currently own crypto assets.

While one in five crypto holders are women, the study profiles the average Singaporean crypto holder as a “29-year-old male with an average annual household income of about 51,968 Singapore dollars ($38,456) a year.”

Regarding the distribution of crypto assets held by Singaporean investors, Ether (ETH), the native cryptocurrency of the Ethereum blockchain, takes a clear lead with 78% as the most popular cryptocurrency, while 69% of crypto holders own Bitcoin (BTC). Cardano (ADA) and Binance Coin (BNB) follow the top two at 40% and 31%, respectively. One in four investors hold XRP and Tether (USDT), according to the survey.

https://cointelegraph.com/news/ether-is ... tudy-finds

@xkosmox: do you see any signs of this in Singapore?

[xkosmox]

“The State of Crypto in Singapore Report 2021,” conducted by crypto exchange Gemini in partnership with CoinMarketCap and Seedly, found that more than two-thirds of Singaporeans who have financial investments currently hold crypto.

The report, which sampled 4,348 Singapore-based adults who self-identify as having or being interested in personal finance and investment products, shows that 67% of the respondents currently own crypto assets.

While one in five crypto holders are women, the study profiles the average Singaporean crypto holder as a “29-year-old male with an average annual household income of about 51,968 Singapore dollars ($38,456) a year.”

Regarding the distribution of crypto assets held by Singaporean investors, Ether (ETH), the native cryptocurrency of the Ethereum blockchain, takes a clear lead with 78% as the most popular cryptocurrency, while 69% of crypto holders own Bitcoin (BTC). Cardano (ADA) and Binance Coin (BNB) follow the top two at 40% and 31%, respectively. One in four investors hold XRP and Tether (USDT), according to the survey.

https://cointelegraph.com/news/ether-is ... tudy-finds

@xkosmox: do you see any signs of this in Singapore?

Interesting to hear!
Definitely the conversations around Bitcoin have been very prevalent in the past 6 months across many contacts...even housewives in wet markets.
So I won't be surprised that two thirds of the upper-middle income range have started to explore this.

And there will be 'masterclasses' that prey on the unknowing masses who want to make money, like https://www.drwealth.com/cryptocurrency ... singapore/

[SOL]

Even retirees are embracing it to beef up their accounts, so it will most likely surge higher, but there the probability of one more major correction is quite high. Volatility is going to be extreme in the years to come and then suddenly it will be killed.

[xkosmox]

Even retirees are embracing it to beef up their accounts, so it will most likely surge higher, but there the probability of one more major correction is quite high. Volatility is going to be extreme in the years to come and then suddenly it will be killed.

Indeed. It would be good in future if we can start to understand some of the danger signs pointing to this sudden death, to be able to get out in time.

[Yodean]

Always like to keep an eye on Blackrock:

Blackrock, the world’s largest asset manager, had nearly $400 million invested in bitcoin mining companies at the end of the second quarter, filings with the U.S. Securities and Exchange Commission (SEC) have shown.

The SEC filings dated June 30 show Blackrock with stakes of 6.71% in Marathon Digital Holdings and 6.61% in Riot Blockchain, Forbes reported Thursday.

The total amount committed across the two firms amounts to just under $383 million.

The investment is spread across a number of Blackrock's mutual funds and exchange-traded funds (ETFs), such as its iShares Russell 2000 ETF.

Earlier this month, fellow asset management giant Fidelity International also disclosed an investment in Marathon Digital, reflecting the increased interest mainstream financial services companies are taking in the crypto sector.

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[Centeron631]

one member at a shareholder club i belong suggested one does not need a vault or wallet whatever it is called if one just uses a memory stick - is this accurate?

[Yodean]

one member at a shareholder club i belong suggested one does not need a vault or wallet whatever it is called if one just uses a memory stick - is this accurate?

Many different ways to store crypto, there is. However, if you are willing to pay the high premiums and accept different degrees of tracking error in both directions at times, one may simply use proxies like GBTC and ETHE. Easier to swing-trade these, unless one is already comfortable with swing-trading crypto assets on various crypto exchanges.

Given your age and online personality constructed vaguely from all your posts, my unsolicited recommendation would be for you to stay away from all cryptos with at least a 10-foot pole - trading cryptos is pretty much the opposite of what you should be doing.

You will be eaten alive by the Sharks.

[Triplethought]

one member at a shareholder club i belong suggested one does not need a vault or wallet whatever it is called if one just uses a memory stick - is this accurate?

Yes, you can store the "keys" yourself and retain them on a USB key. You can make multiple copies on multiple types of media (hard drive, SSD, USB keys, etc and if storing the keys yourself you should and make sure extra copies are in multiple physical locations such as office and home and at your relatives house out of town). The redundancy is necessary because if you lose the key you lose the money invested in the bitcoin. There is NO method of getting it back ever. However be aware that flash memory can degrade over a period of years without power. If left in a hot car a usb key can (and often does) lose data. When this type of memory fails, it often fails completely (no recovery). People use cloud services "wallets" as a way of storing keys in the cloud and essentially delegating responsibility of backups and redundancy to a 3rd party Think of this as storing large amounts of cash in a mattress at your house versus in a bank. A mattress works but God forbid you get robbed or have a house fire.

[Budge]

one member at a shareholder club i belong suggested one does not need a vault or wallet whatever it is called if one just uses a memory stick - is this accurate?

Yes, you can store the "keys" yourself and retain them on a USB key. You can make multiple copies on multiple types of media (hard drive, SSD, USB keys, etc and if storing the keys yourself you should and make sure extra copies are in multiple physical locations such as office and home and at your relatives house out of town). The redundancy is necessary because if you lose the key you lose the money invested in the bitcoin. There is NO method of getting it back ever. However be aware that flash memory can degrade over a period of years without power. If left in a hot car a usb key can (and often does) lose data. When this type of memory fails, it often fails completely (no recovery). People use cloud services "wallets" as a way of storing keys in the cloud and essentially delegating responsibility of backups and redundancy to a 3rd party Think of this as storing large amounts of cash in a mattress at your house versus in a bank. A mattress works but God forbid you get robbed or have a house fire.

I would hesitate to put faith in those nice, white billowy things in the sky and, when push comes to shove, your money in the bank is not your money.

[Yodean]

Cryptos climbing W.O.W. - does BTC break 52k and challenge ATH? Or collapse towards the 38k - 42k support zone before breaking down through low 30s?