School me on investing...

uhhh...the ship has sailed. hopefully it keeps sailing, i may sell now that you joined.

 

Now I'm glad I stayed out of ETC!

 

seriously why do you keep doing this? its not healthy, beyond being financially dumb.

 

They haven’t legalized online casinos in his state yet?

Honestly, no different than going to a casino - the house always wins.

 

not if you play poker.

 

Becuase next time they show them and walk away the winner...

 

I don't know anything about poker but are you playing against the house?

 

If he put in when he said he did, he's up already about 20% in a couple hours. Sounds like he did the right thing

~sent from mobile

 

I'm aware. Its really just for fun... my long-term investments are already solid and I enjoy learning/losing/gambling with play money.

 

Thanks for the tip, @BigBird ! I made 22% in around a half hour and got out. It was a little excitement for the morning

 

Yes. You're primarily playing against other players but there's a concept called "the rake" whereby the house shrinks the total available pie each hand.

 

Whats that come to after taxes?

 

Everyone is different.

~sent from mobile

 

ETC is up to$155... This fake stuff is crazy

Wish I put more than a couple bucks

~sent from mobile

 

Indeed, but the IRS is a constant.

 

well if he took losses during the year, those gains can offset them. so in that case it would be tax free

 

GOD FUCKING DAMNIT!!!

I tried to buy a fuck ton of ETC this morning at 100, but my bank kept declining the charge for some stupid reason

160 and climbing. I’m pissed.

I hope it has a big slump soon

 

i had that happen with Binance during the DOGE run, continuous declines on varying amounts

and that's not nice to wish a slump on the others that made it.

 

no. other people... results may vary by how smart you are, the blinds you're playing, the time of day, how drunk or stupid others at your table are... but its the most "on you" thing you can do with cards and the casino has zero influence on what you do or the outcome of a hand, or the odds of getting the cards you want.

no. the "rake" isn't "against the house", it IS... think of it like... the cost of being able to use their facility and have a dealer deal for you. in a $2/5 hand with no action, they take like $1. the max at my local casino is 10% or $5 max on a hand. if you're not in the hand, its not your money. if you're in the hand, chances are you're winning substantially more and who cares about the $5 rake. The rake holds no influence over the hand, how you play, what cards go to who, or what the dealer does. In a $2/5 game, you're sitting with $500-1000. Consider a "normal" hand with 3-4 players will be like $80 before the flop. If $5 against $80 before the hand really even starts with $1000 sitting in front of you is bothersome, you're in the wrong place.

 

I’ve had it happen also. Always keep cash or a semi-stable asset in your trading account so you can jump on this type of stuff. Live and learn.

I’ve seen comments that crypto will ultimately fail. I don’t think so. Cryptocurrency offers benefits that fiat money can’t match. If we learn to leverage those, then there’s an impetus to use it widely. If all it offers is a direct replacement for currency, it won’t gain widespread adoption. Eventually, some coin or coins will be created or adopted by mainstream institutions. Combined with expanded use cases beyond fiat, it’ll rapidly gain acceptance.

The current behavior reminds of the dotcom boom, ridesharing and gig economy companies, and other overexuberant periods in which new technology came to the fore. Combined with an American state in freefall, rapidly disintegrating institutions and the trillions in funny money that same failing state keeps dumping to prop up this entire house of cards, crypto has a place. The total current market cap is extremely unlikely to be sustainable, but eventually clear winners will emerge and be co-opted by the oligarchy.

Crypto is just the easiest use case for blockchain, but not the most impactful. Having a distributed ledger system is going to completely change society. Expect the system to bite back with both crypto and other blockchain applications as their grip on power falters.