Posted on 02/25/2020 3:46:13 PM PST by bananaman22
You know that the oil markets have truly gone to the dogs when they are suddenly riskier than one of the world’s most volatile commodities: bitcoin.
(Excerpt) Read more at oilprice.com ...
To some volatility is risk.
To others, opportunity.
WTH? Oil has been INCREDIBLY stable the past year... trading between $49 and $61!
... compared to Bitcoin, which went from $4,000 to $12,575 down to $6,584 and back up to $10,218 in that time!
stoopid headline. not even going to bother reading the article.
Oil has actual value in that it can be turned into something of greater use/value. Value of Bitc#coin is supported by the greater fool theory.
Yup. Your car doesn’t run on bitcoins.
Sour grapes obviously. Trade the futs, get the boots.
Or you could have invested in Uber, which to my knowledge is still way below its IPO price. There are many ways to lose your shirt with poor investment choices.
You are very wise.
Wisdom gained from adversity LOL, but thank you.
I beg to differ.
https://medium.com/@blockchainfirst/the-first-multipurpose-blockchain-enabled-ev-charging-station-d8265c1bcb38
I make my living from volume and volatility. Scares the average trader away.
Inquiring minds want to know your opinion of the market?
Hmm... oil, bitcoin, or tulip bulbs?
My opinion isn't like those talking heads on CNBC or what you read in WSJ, worse yet on any MSM outlet. They are on TV to make a buck, either paid for their opinion, or to pimp a stock in which they will benefit from viewers reactions. They could make 100 times more money trading, but they don't. Why? Because they don't know what they are doing. They all tried trading at least once, and failed. Hence, their opinions should be suspicious.
Worse are academic types and economists. They are about as far removed from the market as you can get. They don't trade either.
Then there are stock brokers. Don't get me wrong, I like stock brokers, but for what they can do for me. They can facilitate highly complex trades. It's really a team effort, all the way down to the trading pit. To be blunt, salesmen make money from commissions and most brokers are nothing more than salesmen. Stock brokers want to be traders because the money is so good and it is a challenge. But, it is too easy for them to make commissions by selling than to invest the time, effort, and most importantly the control to trade. Their knowledge pertains to how to get customers to buy and sell securities every single day so they can met quotas to keep their jobs.
As for my opinion, well it's not much use to people. I can't tell you where the market is going today or the next day, other than it has a chance to either go up or down. About 1 in 10 days, it stays about the same. However, in the heat of trading (minutes, not days), I can tell you whether product has momentum or not. Add momentum to current price direction and I can tell you whether a product is going up or down in the very short term (minutes/seconds). Then some institution trader or program trading can kick in and the price can quickly reverse. End result, the price goes up or down. That I can say with absolute confidence.
My love for my country wants the market to go up in the long term. And it will, as long as we stay away from this socialism crap. That I can say with absolute confidence, because in capitalism there is competition that leads to better products and services, that in turn, leads to profits and growth.
I actually know nothing about bitcoin but I did notice that there is a bitcoin ATM at my local gas station.....I have no idea how they work.
Is economic nationalism a good thing to you?
NO, where do you get that? All I am saying, I know how the market works. Little old me can do little about it, but I do know how to profit off the market. I do not construe any grand conspiracy on how it works other than people act in their own self interest.
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