Board 8 > Stock Topic 22

(+) Yeah! (+)

GameStonk posted...

You have to set up a Gemini account first. Once you do that it's super simple.

Just set it up. It doesnt seem intuitive. Im doing this on the app and not desktop FWIW.

Sunroof posted...

Just set it up. It doesnt seem intuitive. Im doing this on the app and not desktop FWIW.

Go to Transfer --> Deposit into Gemini and select your token. It will then generate a long series of letters and numbers, which you will then paste into the address field when you select "Send" in Coinbase.

Sunroof posted...

Can you walk me through this? I see an option to transfer to another wallet, then it wants me to put on my email. Is that what I do? How does it then go to Gemini?

I'm not on Gemini (i'll have to look into it) but on Binance I would

-Click "Wallet" to look at my various wallets

-Click "Deposit" on the wallet specifically for the token I want to receive. So for this example if I click Deposit on my Ethereum wallet it gives my my Ethereum Address (0x39da831aa89b44e6a87ca5a48450c2d5cfe6e06c)

-Then I would go back to Coinbase and Send my ethereum to that specific address.

I don't know what happens if you use email. I think that is to send it from one coinbase user to another without using the actual wallet address, but I'm not entirely sure. But there is no problem with sharing your wallet address because the only thing someone else could use it for would be to send you money. So you just need to find your Ethereum or BitCoin address on Gemini and use that. Just be ABSOLUTELY CERTAIN you are using the correct address before you hit send. Do not try and send your bitcoin to your Ethereum wallet and vis-versa. Chances are the transaction wont be verifiable and it wont go through, but on the other hand it might be a legitimate address for someone else in which case the transaction goes through and you are SOL.

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Forceful_Dragon posted...

Different tokens have 'Staking' which is something you can enable in Coinbase as well

To clarify on this. Some tokens operate on a Proof of Stake mechanic which is infinitely superior to bitcoins shitty Proof of Work which is one way to earn interest on coins. But some brokers are straight up giving interest on coins that use PoW. They are doing it by basically loaning out your bitcoin for an interest fee, similar to how a bank loans out your money for loans. They are then giving you a cut on the interest they are making.

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My only funding source is my bank. I dont see how to add tokens. I will try on desktop.

My tax document is apparently 64 pages what

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Blur I think Im selling FPVD. Its down over 50% and I can see it going lower. Am I crazy?

Lopen posted...

My tax document is apparently 64 pages what

Yeah, you probably have a milliion different 1099-B forms that need to be factored in. Some brokerages will consolidate 1099-B information, but sometimes you end up with a distinct 1099-B for every sale of stock you made that year.

When I have to pull up the income documents on someone's account it is such a nightmare and takes such a long time when there are 200+ forms for the system to sort through, and it's usually a day trader type of situation.

And with enough investment income you are probably using Schedule D to calculate your tax instead of the regular tax tables so that's a couple of extra worksheets as well.

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Sunroof posted...

Blur I think Im selling FPVD. Its down over 50% and I can see it going lower. Am I crazy?

I don't know anything about this stock but it seems like selling at a 50% loss after less than a week is a rash decision.

Ah yes, buy high sell low. Good strat

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The best part is it's 64 pages for a gain of a few hundred bucks (most of my strides came from plays that didn't pay off until this year)

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Sunroof wait till the ticker changes to BIGT

That's the real reason to own it

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please dont sell moonroof just hold it you will say "thanks board 8"

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Looks like the PLTR lock up period actually expired today:
https://markets.businessinsider.com/news/stocks/palantir-stock-price-analysis-lockup-expiration-cathie-wood-soros-fund-2021-2-1030097725

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Dont we not know when the ticker is changing? And if it does go up, at this point itd have to be over 100% just to break even.

Is PLTR worth buying end of day today then?

Sunroof posted...

Dont we not know when the ticker is changing? And if it does go up, at this point itd have to be over 100% just to break even.

I bought into AVCT when it was going nuts over the summer and immediately lost 50%. It only took 5 months of patience to regain the losses and sell for a modest gain.

Honestly I think BigT is kinda nonsense and I wouldn't entirely fault you for running (I'd fault you for buying though if you're willing to run now).

DNN is good though. Move your 50% BigT loss into DNN and you'll get it back quicker prob

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Like just consider what you're buying with BigT is what I'd do, then determine whether to sell based off that. Ignore losses and gains. You can get +100% off of a lot of things.

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My hole

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greengravy294 posted...

My hole

JPM has been doing well for you since you bought it. Youre welcome!

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neonreaper posted...

JPM has been doing well for you since you bought it. Youre welcome!

I sold it for 100 bucks the other day

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greengravy294 posted...

I sold it for 100 bucks the other day

But thanks

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well I had a three paragraph response typed up and accidentally clicked another topic on my phone and lost it, fuck. here's a lazy summary version

- Moonroof, did you do exactly what I told you not to do and buy all at once? Smdh.
- Could like triple your position on a dump day like today if you started small enough. Then get out real quick for small gains and watch price movement in the meantime. This is what I plan to do since I can obviously get a way better average. But personally I'm still not buying more quite yet. If it gets below like .02 seems like a pump and dump day would be inevitable. That's when I go heavy, get out, and get back in with a better average to hold long. I very much doubt I will lose any money on this trade at the least.
- Or you could just hold for the ticker change and not sell in literally one day when I told you it could be a year plus hold yesterday. Jeez man.

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Im all in DNN now. Thats all Ill say on this because apparently I didnt understand it was a year hold.

Lopen posted...

Like just consider what you're buying with BigT is what I'd do, then determine whether to sell based off that. Ignore losses and gains. You can get +100% off of a lot of things.

Honestly, it was a little worrisome how quickly some people bought here when I posted a bull thesis, but had spent a whole day of my weekend looking into the company for myself. At least I think almost everyone was smart enough to only get a small starting position size.

What has you so bearish long term, Lopen? Think they'll do some crazy R/S to get NASDAQ listed quickly and screw over shareholders or something? That's the worst case scenario I can imagine.

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GameStonk posted...

Go to Transfer --> Deposit into Gemini and select your token. It will then generate a long series of letters and numbers, which you will then paste into the address field when you select "Send" in Coinbase.

Okay. Did this. Now how do I see the money in Gemini?

Oh sweet, my Ether was accepted. Just waiting for me Bitcoin to. So does the interest accrue automatically or do I need to click things to activate it?

So I'll say I'm not bearish on it but I just don't see a lot of lucrative market for it.

What it basically sounds like is Survey Monkey (which I already feel is overvalued at 3.3b) with less of a footprint in the market place and a crypto gimmick, but like wanting to make shares of your stock a cryptocurrency and it being a credible and usable one are totally different things. Crypto algorithms aren't exactly simple, you know? Getting the world at large to accept your currency isn't exactly simple either. There's a reason BTC is worth so much more than other cryptos.

Like if I was putting substantial money on something I thought could double+ I'd go with dozens and dozens of penny stocks before it. To say nothing of non pennies. It'll probably go up from here because you're buying shares of a defunct company so anything is better than that, but I don't think there's a ton of value and it's definitely not something I'd feel safe putting a lot of money in. And I'm not one to shy away from cheap stocks. I have about 4k in DNN, ATHX, TRVN, and AVCTW each.

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Sunroof posted...

Oh sweet, my Ether was accepted. Just waiting for me Bitcoin to. So does the interest accrue automatically or do I need to click things to activate it?

I see an Earn button I can click and then Id have to accept terms and conditions, and it makes me choose how much I want to get interest on. Why would I not choose the max amount? What am I not getting here

Is BigT trying to make crypto tokens to represent stocks?

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Sunroof posted...

I see an Earn button I can click and then Id have to accept terms and conditions, and it makes me choose how much I want to get interest on. Why would I not choose the max amount? What am I not getting here

Ha, I had that same thought. I guess some people with millions of dollars invested might not want it loaned out?

In either way, I've now maxed my BTC, ETH, and LINK for free moneys. And the great thing about it is that the interest is accrued in tokens--so the more these are worth, the more your interest really becomes.

@Sunroof I feel like this should be obvious but i'm going to say it anyways since I feel like this is the main thing you need to learn.

You should not be investing more than a small percentage of your money in stuff that you do not understand. Just because someone in this topic is bullish on something, which they may or may not have good reason for, unless you personally understand why and agree with it you should not be putting tens of thousands of dollars in it.

Two reasons for this:

• To make sure you personally agree with the bullish sentiment. If they can't convince you you probably shouldnt be buying
• To give you the confidence you need to hold the company even if it goes down. If you don't know anything about a stock and it dips 50% you might want to just bail. If you you are confident its worth more you would buy more. It's a powerful thing

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I think a reverse split would help actually. One reason I didn't buy it yesterday was that I saw the stock had recently been trading at under a penny. I've never seen a successful company let its stock get that low. It means there was massive dilution at some point.

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Lopen posted...

So I'll say I'm not bearish on it but I just don't see a lot of lucrative market for it.

What it basically sounds like is Survey Monkey (which I already feel is overvalued at 3.3b) with less of a footprint in the market place and a crypto gimmick, but like wanting to make shares of your stock a cryptocurrency and it being a credible and usable one are totally different things.

What do you mean by this? I don't think BigToken is anything more than its own currency, or really "point system" would be more accurate, that you can exchange for other cryptocurrencies. Yes, they said they want to make their own crypto coin in the future as well, but that would be a totally separate thing, right?

Like if I was putting substantial money on something I thought could double+ I'd go with dozens and dozens of penny stocks before it.

You need to point me to some of these, because every time I hear a convincing bull case on a penny, five minutes of Google searching reveals shady ass management teams every time. Any penny stock, management is the number one thing I'd look to for holding long term.


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GameStonk posted...

Ha, I had that same thought. I guess some people with millions of dollars invested might not want it loaned out?

In either way, I've now maxed my BTC, ETH, and LINK for free moneys. And the great thing about it is that the interest is accrued in tokens--so the more these are worth, the more your interest really becomes.

There's probably some risk that your counterparty won't be able to pay it back. So you get interest to compensate you for that risk. It's like how loans of GME stock were going for 150%+ interest at one point.

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Colegreen_c12 posted...

@Sunroof I feel like this should be obvious but i'm going to say it anyways since I feel like this is the main thing you need to learn.

You should not be investing more than a small percentage of your money in stuff that you do not understand. Just because someone in this topic is bullish on something, which they may or may not have good reason for, unless you personally understand why and agree with it you should not be putting tens of thousands of dollars in it.

Two reasons for this:
* To make sure you personally agree with the bullish sentiment. If they can't convince you you probably shouldnt be buying
* To give you the confidence you need to hold the company even if it goes down. If you don't know anything about a stock and it dips 50% you might want to just bail. If you you are confident its worth more you would buy more. It's a powerful thing

Yes, this is all obvious and also what I needed to hear. Despite it being obvious, I got antsy and made a rash decision against it. I will keep this in mind in the future and not repeat this, even if things end up working out with DNN.

I gotta say that FPVD is looking real tasty after this dip. What's the timing on the switch to BIGT?

Moonroof, I hope you are not using those 25k positions from before. That's fine with stocks like Visa but it's really way too high an allocation for penny stocks.

If you are playing with all your money, a 10x gain is equal in size to a 90% loss. If you are playing with a small fraction of your money, a 10x gain is nearly 10x bigger!

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red sox 777 posted...

I think a reverse split would help actually. One reason I didn't buy it yesterday was that I saw the stock had recently been trading at under a penny. I've never seen a successful company let its stock get that low. It means there was massive dilution at some point.

Yeah, Lopen has posted in the discord that he thinks the same. A simultaneous R/S and canceling of shares, especially before the ticker change, could definitely cause a huge run.

I think most people were just hoping for a straight share cancellation, and maybe they do that short term, but if it trades sideways for too long they'll probably get hungrier for a NASDAQ listing. The problem is, so many of these companies that try to use R/Ses to get NASDAQ listed quickly just lose all their investors and get delisted right away again. That's the sign of a scam. But if the long term growth case can be made, then a R/S can actually be helpful.

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red sox 777 posted...

Moonroof, I hope you are not using those 25k positions from before. That's fine with stocks like Visa but it's really way too high an allocation for penny stocks.

If you are playing with all your money, a 10x gain is equal in size to a 90% loss. If you are playing with a small fraction of your money, a 10x gain is nearly 10x bigger!

I wasnt with FPVD, thankfully, but still about $14k. With DNN Im in a ton though. $70k.

70k on a stock in the $1 range?

............

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StartTheMachine posted...

What do you mean by this? I don't think BigToken is anything more than its own currency, or really "point system" would be more accurate, that you can exchange for other cryptocurrencies. Yes, they said they want to make their own crypto coin in the future as well, but that would be a totally separate thing, right?

Well whatever I don't know the exact thing, and was going to have red sox refer to you. I just know the crypto hook feels like a gimmick and the basic idea (buying people's data for cheap and reselling it) is already done by bigger and more established parties

StartTheMachine posted...

You need to point me to some of these, because every time I hear a convincing bull case on a penny, five minutes of Google searching reveals shady ass management teams every time. Any penny stock, management is the number one thing I'd look to for holding long term.

Off the top of my head:

ATHX (they have tons of patents on stem cell stuff that potentially have a ton of uses. very good methodical testing and discipline, might get some use in Japan even without FDA approval)
TRVN (good pipeline + FDA approved morphine substitute product that could boost them alone once it gets marketing momentum. Already have some overseas partnerships to help with cash burn)
GSAT (Have their own uncluttered 5g band to use for specialized stuff like GPS and whatnot)
DNN (Uranium mines-- you know this one)
XSPA (In the dumpster because of flight industry being down, but they're trying to become the name for airport Covid testing which I think has a lot of potential)
NOVN (another biotech-- gone up a lot recently which makes it less appealing. lots of skin treatments that seem to have good data and aggressivley pushing towards manufacturing. Avoided R/S to avoid delisting (and it worked) thinking they'd get up on merit of their product)
IVR (They buy mortgages and invest the profits from that in stocks. They lost a ton of their resources on margin calls last year's crash, but have stabilized and have a good dividend and should recover well in a bull market if you assume the market won't crash again.)
LPCN (Hypogonadism drug is all but approved right now-- combined with their other approved stuff they should be cash positive soon I think)
TOMZ (Have a disinfecting mist gadget. Seems like it'll be useful in a post-covid world)

So maybe not dozens and dozens but... a lot. I had more but a lot of them are no longer pennies lol. If only I could invest in everything! I haven't done full DD on all of these because I haven't actually invested in all of these, but they're all on my radar. All could double+ in a few years. Well maybe not IVR that seems more like a steady gainer but yeah.

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I know exactly the first half of those, and absolutely nothing about the second half. I know penny stock is used to refer to anything under $5, but I meant true penny stock in this case, with a share price like FPVD. Those are the ones it's nigh impossible to find very credible management teams.Plenty in the range of DNN and the like that are worthwhile!

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red sox 777 posted...

70k on a stock in the $1 range?

............

Oh its crazy. But I believe in this stock to the point that its worth the massive investment risk. I put all my AMC gains ($50kish) and another $20kish. I plan on holding until it goes over $2. If things go wayward and it drops significantly....then I made a pretty bad investment.

I will also say that I dont like holding stocks for earning reports anymore, and the reliable big name stocks have always screwed me. Apple, Tesla, Google, etc. If I had gotten in on them months ago then great, but I got so now and holding lost me money.

At least this way I have a shot at making big gains, and I wont be going in and out of random stocks as much.

Moonroof can you tell me three reasons why you are so bullish on DNN or is it because me and Lopen are so bullish on DNN

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I moved to the southeast, largely to get away from the cold weather, and when this recent storm took away my power for three days and I saw the uranium stocks go up, it made me realize that thats a huge opportunity for nuclear energy growth. I reckon the southern states will learn (the hard way) from this recent weather issue and such forms of energy will go up.

I guess thats one reason but its sensible enough to
me.

Ah okay. Yeah I generally avoid pure penny stocks. I guess if your criteria is like "share price less than $0.10" then yeah BIGT seems like it has a ton more upside than most of them which are just money traps.

But I mean here's the thing-- I don't see BIGT at having more than 2-3x upside in the fairly short term because it's simply not worth more than that-- R/S is going to be how they achieve higher share price to be listed. I'd put that upside into most of the ones I listed.

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