$1,000 Money Challenge

[MrPrena]

Irving, you are a genius! Getting on a bitcoin when it was in around low double digit?

I read massive amount of digital currencies PLUS hours and hours of CNBC on Digital cryptocurrency (Bitcoin, Litcoin, Peercoin), but I still don't get this thing. I understand and know majority of complex securities, currencies, derivatives, CDS, you name it, but this digital currency is one thing I am real dumb on. I want to ride this tulip mania before the crash, but I think I will have to pass.

[Irving]

I am taking a risk trying to deal with bitcoins right now in my opinion. I think they would be VERY profitable if you watch them all day like FOREX trading. FOREX traders buy and sell when a currency changes by a pico or something? Bitcoins fluctuate by $10-$200 a day!

What I'd like to do is get in with Litcoin and other substitute coins RIGHT NOW. I think Bitcoins are popular enough that the masses have taken notice; but valuable enough that the masses will flock to the substitutes like Litcoins. I don't think the substitutes will be as strong as Bitcoin, but that shouldn't stop me from being able to make money off them early on.

MrPrena, consider Bitcoins the same was as you would gold, in that there is a fixed amount of available currency. Each coin is "mined" by solving increasingly difficult math problems. As more and more bitcoins are mined, they can be broken down into smaller and smaller denominations. That is about as basic (and complex) as I can explain it.

Dave, I bought my bitcoins for $11 each in September of last year. I wasn't fortunate enough to sell them at any where near the value they hold now.

[Irving]

bitcon has so much fluctuation that I am 90% sure you will make at least 1%.
Just as reminder that Chinese government's statement on Bitcoin might bring a little resistance.

Okay, so if you remember, I bought a coin for $640. I got tired of waiting for the price to go, as it has been about as stable as I have ever seen it lately. I sold on Tuesday for $808. After the .6% transaction fee either way, I made $153. Of course NOW it's up around $860. I was impatient, but still made something at least. The $153 number I quoted is the difference in the amount I have in my account now, and what I remember I had before I bought this last coin.

[MrPrena]

Okay, so if you remember, I bought a coin for $640. I got tired of waiting for the price to go, as it has been about as stable as I have ever seen it lately. I sold on Tuesday for $808. After the .6% transaction fee either way, I made $153. Of course NOW it's up around $860. I was impatient, but still made something at least. The $153 number I quoted is the difference in the amount I have in my account now, and what I remember I had before I bought this last coin.

That is a good trade.

[MrPrena]

Bought only 2000 shares of RadioShack at low 2.10s avg. Fundamentals looks horrible, but Technicals are fair. Very high short interest at ~45%. I might take a little hit, unless I play (buy/write) options, 2.82 and 3.25 is my target price to sell.
Might get back (buy or straddle) to AMD after Aprl 17 earnings.


Currently watching like a hawk on:
Level(3)
JCPenny (planning to be in at 5.20s)
AMD (planning to be in at 3.30s)
Juniper
Blackberry ((planning to be in at 6.70's)
Naver* Corporation (035420.KS) -KSE (Short or buy puts near at 840,000 KRW)

* Naver is owner of Ktalk/Katalk app. Better app thanWhatApp. IT can do voice over net for free.

[encorehunter]

Digging up an ancient thread to see if anyone made their millions yet.

Talking with a friend this morning, I brought up this challenge and he liked the idea. We are going to start playing now, and see what we can do by the end of the year.

[Little Dutch]

I messed up with my honey well stock this year. I was doing well and up over 50% in 3 months. Then I made a bad buy and a bad sell, followed by another bad buy. I misjudged the highs and lows on the market bounce from Covid and Riots basically.
I am now sitting at 22% up in 6 months. Oh well. I'm not going to be winning this game this year. And I still wish I had been able to invest more than the pittance I did when stocks dropped.

[asystejs]

In March I bought VDIGX

Today its +24% including dividends reinvested

[Gman]

If MrPrena is still holding onto that AMD stock, he should be doing OK.

[Not_A_Llama]

Missed out the first time. Anyone wanna start it up again for 2020?