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Trading the stockmarket (NO Referrals)

Discussion in 'General Discussion' started by mcast123, 2 Apr 2009.

  1. Vanilla

    Sgarrista

    Joined: 18 Oct 2002

    Posts: 9,412

    A lot of crypto miners do situate in areas where power is cheap (near dams), going to waste anyway due to overproduction (again dams) or have a high amount of renewable energy, like Texas and their wind farms.

    However, referring to comments a little further up, I agree that someone's personal choice to avoid mining stocks for the power use to be completely valid.
     
  2. Russinating

    Capodecina

    Joined: 27 Dec 2005

    Posts: 16,680

    Location: Bristol

    That's all best case scenario though. Solar isn't reliable, both for the machines and supporting hardware like aircon.

    Bitcoin uses more electricity annually than the whole of Argentina. And that's just that currency. Even if it's green, even if it's energy that would otherwise be "wasted", it could still be put to better uses.
     
  3. englishpremier

    Sgarrista

    Joined: 15 Feb 2003

    Posts: 8,772

    Location: Europe

    Argentina doesn't use that much compared to much smaller countries with much smaller populations like Netherlands or even smaller populations like Norway. In fact the same article you probably saw that info in also mentions that standby electronics in US alone could power the network for a year.

    I bet the stock markets and trading uses massively more.

    Never understood the need to save energy if you can get it from renewables or similar.

    P.S - Solar is pretty danm reliable, until Jan I was living off it for the almost 4 years. Obviously alone it's not enough for bitcoin though.
     
  4. kakarott

    Hitman

    Joined: 10 Jan 2021

    Posts: 791

  5. MORE SPEED

    Mobster

    Joined: 15 Nov 2008

    Posts: 2,521

    Location: Reading

    Pretty sure I saw somewhere that Crypto as a whole uses around 2% of the energy of the stock market currently.
     
  6. platinum87

    Soldato

    Joined: 25 Nov 2007

    Posts: 5,223

    Location: London

    I once heard that injecting Dettol cures covid-19.
     
  7. mid_gen

    Capodecina

    Joined: 20 Dec 2004

    Posts: 11,988

    The machinery around the financial markets keeps the global economy running, and is built to be as efficient as possible. It's not just equity markets, but the myriad other products and derivatives that businesses use daily to manage their operations that deliver enormous value to every economy in the world..not to mention the direct employment in the finance industry.

    Bitcoin is deliberately massively inefficient and wazzes huge amounts of energy up the wall, to run a simple ledger that right now primarily serves as a token for speculators, and bugger all else.

    You would struggle to design a system more inefficient than Bitcoin.

    For the record I think blockchain tech is a useful technology and businesses will make use of it in valuable ways....but Bitcoin is just a huge mistake that is only the defacto mother of all crypto because it was the first. Sooner or later I think it will go in the bin, and other, better, efficient, useful blockchain implementations will rise to prominence.
     
  8. mid_gen

    Capodecina

    Joined: 20 Dec 2004

    Posts: 11,988

    Anyways, back on topic. Might top up some ETFs today if we open in the red....
     
  9. Kreeeee

    Man of Honour

    Joined: 13 Jul 2004

    Posts: 44,033

    Location: /* */

    Yesterday a lot of the trendy ones were down a few percent. Thursdays always seem to be the best day of the week to invest in them, there was an analysis on /r/investing about it.
     
  10. mid_gen

    Capodecina

    Joined: 20 Dec 2004

    Posts: 11,988

    I topped up my ESPO a little already. And bought a bit more IAG as I think we'll be getting into the 'good news for airlines' news cycle soonish....will have a snoop at that subreddit.
     
  11. Kreeeee

    Man of Honour

    Joined: 13 Jul 2004

    Posts: 44,033

    Location: /* */

    It’s annoying that where I live if I buy and sell too often I get classed as a trader and I would have to start paying Capital Gains Tax.

    There are a few stocks/ETFs that I would like to get profits from as I am sure they will pull back a bit but it’s not worth having to pay CGT on all of my investments.
     
  12. sanaxe1

    Soldato

    Joined: 7 Nov 2006

    Posts: 5,784

    Location: Nottingham

    Is anyone else's trading212 sell price not updating?

    Price of argo block chain = 315.8 but I can only sell for 304. 1


    Edit: it since has dropped to 307 but sell price is still 304.1
     
  13. Martynt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 17,643

    Location: Higher Walton

    It's just the spread, it usually widens in moments of low liquidity.
     
  14. Mulder

    Mobster

    Joined: 10 Oct 2004

    Posts: 3,896

    Location: Bucks

    Took a punt on LON:MXC earlier in the week and it's up over 50% so far. Can't be fundamentals driving that, more likely people just jumping on the bandwagon given listings in the space are now permitted. Bought into the Cellular Goods IPO too, lists 4th March, hopefully it also comes good!
     
  15. Jokester

    Don

    Joined: 7 Aug 2003

    Posts: 42,444

    Location: Aberdeenshire

  16. Martynt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 17,643

    Location: Higher Walton

    Whilst it undoubtedly ended up as a pump and dump. I'm not sure he instigated it to the point he should be liable. It seems he bought in long ago and shared his reasonings as to it being undervalued to a fairly small userbase. Looking at his original videos, they show viewings around 10k. It then gained traction by a huge following away from him which caused the huge rise. He seems to be being held up as a poster boy/scapegoat when in reality he just shared some DD on a stock he liked and had invested in.

    It would likely have been confined to WSB and never have hit close to $500 if not for the likes of the BBC bringing it to the masses and causing the big surge late on creating the fomo from people who had no idea what they were doing and are now creating lawsuits. Personally id have never heard of it without the BBC reporting on the large increase on the Friday.


    Alternatively, he planned this all along and played his hands very carefully :p
     
  17. RobHu

    Hitman

    Joined: 29 Jan 2008

    Posts: 703

    I'm not convinced he's done anything wrong to be honest. He opened positions at the end of 2019 and shared his DD at the time. You're allowed to share your research/opinions and stock positions wherever and whenever you want as far as I know? Financial firms do this all the time - See: those holding massive short positions of GME at the start of this doing live streams explaining why [in their opinion] people shouldn't buy the stock. Cathy Woods was on TV last night explaining why she thinks xyz stock/sector will go up etc...

    The only angle is surely that he deceived people by not being upfront about his career. If this is legally required he's probably screwed.
     
  18. 413x

    Capodecina

    Joined: 13 Jan 2010

    Posts: 23,480

    Location: Llaneirwg

    Argo blockchain is out competing crypto market.

    Amazing gains. I have none
    100 percent increase in 5 days. Crazy
     
  19. arknor

    Caporegime

    Joined: 22 Nov 2005

    Posts: 40,106

    Location: Newcastle/Zurich

    Nel asa had a big dip on earnings for Q4 https://www.prnewswire.co.uk/news-r...quarter-2020-financial-results-890210980.html
    I don't think it's warranted, new production line will come online for testing in q2 and should be ready f or commercial orders in q3 + they have a huge order backlog

    looks like it bottomed out already and started a recovery

    it wasn't though and IB chairman was on the news admitting if they didn't put a halt on GME buying it would have hit the thousands and they would have made a massive loss buying back shares they had gave to the hedgefunds who shorted it.

    t212/IB probably would have gone under because of the silly risks they took but apparently being reckless with other peoples shares is fine

    cmon bruh the "system would have collapsed" aka smart money would have lost silly amounts of money through their own greed

    they never considered the risks of lending shares out so they punished retail investors who did the math instead
    I guess you could claim kitty new this would happen though but I doubt it, never happened on the VW short but I guess there weren't so many small brokers lending retail investors shares to people back then
     
    Last edited: 18 Feb 2021
  20. Martynt74

    Capodecina

    Joined: 20 Feb 2004

    Posts: 17,643

    Location: Higher Walton

    Yeah, even though i bought back in, i'm still cursing not holding my initial purchase at 19p. I'd have about 15k now :(