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Investment Thread - For all your money needs

Here's an idea for parking any cash holdings. Convert USD to USDC at Coinbase or whatever other exchange might offer the same service for free. Then send the USDC to BlockFi and earn 8.6% interest that you can have paid in USDC or any number of cryptos (BTC, ETH, LINK).
 
So my investment advisor came to me with structured investment products linked to equities.

For instance, one linked to Tesla pays 17.5% interest with a 50% threshold. if the price is higher than on the issue date they can call after 3 months and pay you the 17.5% interest. If the price is between 50% and 100% they can't call and have to continue paying the 17.5% interest. if the price dips below 50% then you don't get any interest and part of your principle is at risk if it reaches maturity.
 
TELL

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There is still time.
 
Growth seems to have made its return after a brutal couple months. My 5 favorite holdings at the moment.

ABNB - seems terribly undervalued at the moment. Their booking numbers are way up even if the revenue hasn't hit their accounts yet. Way more name recognition than other home rental sites as well.
CXXIF - not my favorite marijuana company but probably has the most immediate upside. They report tomorrow morning along with CRLBF, my favorite of the bunch.
VSTO - outdoor store and ammo seller, all it does is go up. One of few stocks I have that didn't take a hit in March/April.
UPST - cloud based AI lending targeting undeserved markets, particularly those with low credit scores. Has made some big leaps recently but has plenty of room to run.
FUBO - streaming TV that plans to launch online sports betting in Q4. Could be huge if they pull off live TV betting, which they have the tools in place to do. Heavily shorted at the moment.
 
I'll be shocked if Fubo survives another year.
 
What would be the purpose of live TV betting as opposed to just betting on an app or the web? Doesn’t seem worth the hassle for a steamer.
 
What would be the purpose of live TV betting as opposed to just betting on an app or the web? Doesn’t seem worth the hassle for a steamer.

A lot of their growth is built on having live streams to sports around the world. Having built in sports betting on the streaming platform people are watching those sports seems like a win-win. Get casual fans betting on sports they're already watching and bring in new streamers who want to watch the sports they're betting on. No need for a separate sports book, you've got everything in one app.
 
I see it theoretically. It seems futuristic. It would appeal to uber sports fans and may entice new betters.

What’s the interface? Would it be on screen pop ups? I don’t know what would push innovation and practicality. I’m watching Hawks-Knicks and posting from my phone. Basic stuff everyone does. Doesn’t seem like it would be easier to bet on the TV than on my phone. We’ll see.
 
The sports betting won't happen until Q4, so not sure what the interface will look like. But FuboTV is an app already, so you could be streaming on your TV and betting on your phone using the same app. I'd imagine they'll also have the ability to bet on the TV screen while continuing to stream as well, split screen or something similar. There's all kinds of cross promotions or discounts on streams if you're betting on the game. Still plenty of details to be confirmed but I think having a one stop place for watching and betting would prove popular globally. It could all fail, but I like the potential.
 
Here's why I take crypto over Apple. Crypto has a market cap of about 2T. Gold has a market cap of 11T. All financial instruments have a market cap of 400T. If you think programmable financial instruments have a reasonable chance to eclipse the market cap of gold over the next, say, 10 years, then consider getting off zero. Because there is no asset class that offers you the same asymmetric reward to risk ratio if you think that's a reasonable possibility.

Fundamentally there are all sorts of things that point to crypto continuing to advance.

The following is a list from April:

- Public Japanese Gaming Giant Nexon Purchases $100mm of Bitcoin on Balance Sheet
- 2nd Oldest U.S. Bank State Street with $3.2tn AUM to Start Trading Crypto
- Former OCC Head Brian Brooks Named CEO of Binance US
- Former CFTC Chair Chris Giancarlo Joins BlockFi’s Board of Directors
- Venmo Launches Crypto Purchases
- Goldman Prepares to Offer Crypto to Private Wealth Management Clients
- Morgan Stanley Files to Add Bitcoin Exposure to a Dozen Institutional Funds
- JPMorgan To Launch First Bitcoin Fund This Summer
- $230bn AUM CI Global Asset Management Launches CI Bitcoin Fund
- US Bank to Launch Crypto Custody
- Wealthfront To Enable Crypto Purchases Later This Year
- MicroStrategy Purchases $15mm BTC at $59,339, Total BTC Purchases 91,579 at $24,311 Average Price
- FinCEN Appoints Former Chainalysis CTO Michael Mosier As Director
- Former Acting Director of CIA Michael Morell Publishes Independent Paper Strongly Supportive of Crypto
- #1 NFL Draft Pick Trevor Lawrence Signs Deal with Blockfolio To Receive Bonus in BTC, ETH and SOL
- Paxos Receives Federal Bank Charter From OCC
- Paxos Raises $300mm at $2.4bn Valuation
- NYDIG Raises $100mm (After Raising $200mm Last Month) From Liberty Mutual Insurance, Starr Insurance and Others
- Consensys Raises $65mm From JPMorgan, Mastercard, UBS, Others
- $445bn AUM Baillie Gifford Leads $100mm Investment in Blockchain.com
- Rothschild Capital Management Takes Stake in Kraken
- Alchemy Raises $80mm Series B Led by Coatue to Be AWS for Blockchain
- RobinHood Announces 9.5mm Users Traded Crypto in Q1-21, Up From 1.7mm in Q4-20
- Revolut Expands Crypto Offering By 11 Names, Now Totaling 21 Cryptos
- Canada Launches Three ETH ETFs
- European Investment Bank Sells EU100m Bonds on Ethereum Network
- Ray Dalio Says of Bitcoin, “I like the diversification of this kind of asset. It should
be party of any portfolio. It’s got merit.”
- Goldman CEO States Bitcoin Is on Inevitable Path to a Higher Market Cap Than Gold
- Gary Gensler Confirmed as SEC Chair
- Brevin Howard Main Hedge Fund to Begin Buying Crypto
- Dan Loeb’s Third Point Files as a Coinbase Custody Customer
- Biden Administration Said to Be in The Early Stages of Developing Crypto Regulatory
Framework
- Congress Passes “the Eliminate Barriers to Innovation Act” to Establish SEC/CFTC Working Group on Digital Assets
- Coinbase To Devote 10% of Resources to Innovation Bets
- Gemini Now Supports Apple Pay and Google Pay
- Tether Trading Pairs to Launch on Coinbase
- Binance Launches Zero-Commission Tokenized Stock Trading
- Coinbase Executes Direct Listing on NASDAQ

Here's a list from prior months -

October 2020
• PayPal & Venmo Introduce Cryptocurrency Buying, Selling & Shopping
• JPMorgan Launches Digital Asset Business Unit, Rumored to Buy Custodian

November 2020
• Citigroup Research Publishes YE 2021 BTC Price Target as High as $318k
• BTIG Research Publishes YE 2021 BTC Price Target of $50k
• AllianceBernstein Recommends Allocation to Crypto

December 2020
• MassMutual Buys $100mm of Bitcoin and Minority Stake in NYDIG
• Guggenheim CIO Scott Minerd Says Bitcoin Fundamental Value Is $400,000
• JPMorgan Says Gold Will Suffer for Years Because of Bitcoin
• Fidelity Digital to Hold Bitcoin as Collateral for Cash Loans
• Jefferies Head of Global Equity Strategy Cuts Gold Exposure for Bitcoin
• SkyBridge Capital Registers Fund to Buy Bitcoin and Buys $182mm

January 2021
• $7.8tn AUM BlackRock Files to Invest in Bitcoin Futures for Two Funds
• Publicly-Traded Marathon Patent Group Purchases $150mm of Bitcoin on Balance Sheet
• Osprey Funds Launches Trading on GBTC Competitor BTC Fund

February 2021
• TSLA Buys $1.5bn of Bitcoin on Balance Sheet
• BNY Melon to Custody Crypto
• MasterCard to Enable Crypto Purchases for All Merchants
• Deutsche Bank to Offer Crypto Custody and Prime Brokerage
• BlackRock Begins Buying Bitcoin

March 2021
• $4tn AUM Morgan Stanley Private Wealth Management to Offer NYDIG and Galaxy BTC Funds to Clients
• NYDIG Raises $200mm From Morgan Stanley, New York Life, MassMutual, Soros
• Visa to Enable Bitcoin Purchases at 70mm Merchants
• Fireblocks Raises $133mm Series C from Coatue, Ribbit, BNY Mellon
• Fidelity, Goldman, SkyBridge, NYDIG, VanEck, Valkyrie, WisdomTree and Bitwise All Have Current Bitcoin ETF Applications Pending
• Visa Launches Pilot with Crypto.com to Settle USDC on Visa Network
• PayPal Acquires Crypto Custodian Curve, Launches “Checkout with Crypto”

I'm sure he's got some of these things wrong, but I imagine he has quite alot of it right. 80% of Bitcoin purchases are done via tether? And tether is backed by 3% of actual cash, the rest "loans to affiliates"

This thing is going to implode. Ya can't give $60 billion to 11 guys in an unregulated market.

https://mishtalk.com/economics/inve...e-is-dependent-on-60-billion-accounting-fraud
 
like if you look at the total volume of all the say top 10 cryptos and add them up, it looks to roughly be the total volume of tether. So there may be some of us chumps depositing $10k to play with, but it looks like most of this "volume" is just funny money trading back and forth.

This doesn't exactly inspire confidence.... (the end of the tether wikipedia)

Tether has repeatedly claimed that they would present audits showing that the amount of tethers outstanding are backed one-to-one by U.S. dollars on deposit. They have failed to do so.[50] A June 2018 attempt at an audit was posted on their website in June 2018 which showed a report by the law firm Freeh, Sporkin & Sullivan LLP (FSS) which appeared to confirm that the issued tethers were fully backed by dollars. However, FSS stated "FSS is not an accounting firm and did not perform the above review and confirmations using Generally Accepted Accounting Principles," and "The above confirmation of bank and tether balances should not be construed as the results of an audit and were not conducted in accordance with Generally Accepted Auditing Standards."[51]

Stuart Hoegner, Tether's general counsel said "the bottom line is an audit cannot be obtained. The big four firms are anathema to that level of risk. We’ve gone for what we think is the next best thing."[50]

From what I can google, is all we've got is a bahamas "bank" saying "it's there" yet seems odd you can't get an independent audit over $60 billion dollars that's apparently driving a trillion dollar industry.
 
Morning Diggler. This is my last 4 am workout for the summer.
 
TELL - Big day coming!

FUBO is a short. Probably a zero.
I don't think ABNB is undervalued on any metric, unless maybe you are talking relative to other super expensive stocks.
I don't know the others mentioned above.
 
I only hate that TELL and BB made jumps a few days before I was able to average down a bit more. Oh well.
 
If TELL keeps going up I may have to buy ATS a Christmas present. I first bought around $3 but kept adding as it fell.
 
I'm sure he's got some of these things wrong, but I imagine he has quite alot of it right. 80% of Bitcoin purchases are done via tether? And tether is backed by 3% of actual cash, the rest "loans to affiliates"

This thing is going to implode. Ya can't give $60 billion to 11 guys in an unregulated market.

https://mishtalk.com/economics/inve...e-is-dependent-on-60-billion-accounting-fraud

The list I provided is largely via Dan Morehead and Travis Kling. Both run significant crypto hedge funds and Morehead also runs some blockchain venture funds. Kling's record of net returns vs. just holding BTC is pretty astounding as his schtick is to capture the meat of upsides and avoid the big violent downswings.

Point being Kling, in particular, was hyper concerned (rightfully so) about the status of Tether reserves and took the time to have his team do extensive research after Tether got sued by New York (and settled with them) that Tether is now fully reserved and in compliance with their settlement agreement. Could he (and the state of New York) be wrong? I guess it is possible. But he is a very conservative manager in the space (albeit he is working in a volatile space). I think he used to run a fund for Point72 before leaving to start his current fund.
 
The list I provided is largely via Dan Morehead and Travis Kling. Both run significant crypto hedge funds and Morehead also runs some blockchain venture funds. Kling's record of net returns vs. just holding BTC is pretty astounding as his schtick is to capture the meat of upsides and avoid the big violent downswings.

Point being Kling, in particular, was hyper concerned (rightfully so) about the status of Tether reserves and took the time to have his team do extensive research after Tether got sued by New York (and settled with them) that Tether is now fully reserved and in compliance with their settlement agreement. Could he (and the state of New York) be wrong? I guess it is possible. But he is a very conservative manager in the space (albeit he is working in a volatile space). I think he used to run a fund for Point72 before leaving to start his current fund.

In reading the settlement agreement, there's nothing in there saying that NY agrees that Tether has adequate reserves. The settlement was for Tether to stop doing business with people from NY. There's absolutely nothing in this summary of facts linked below that gives any confidence whatsoever. They could literally just be printing tethers with no backing. Crypto currently appears to be a ponzi scheme. Which is the obvious result of unregulated markets being worth trillions. It works as long as people plow new money in...... Past 24 hours of volume of tether = volume of the other 9 top cryptos added together.

I've seen nothing that suggests other than that someone gives tether their bitcoin. then tether transfers their bitcoin in exchange for a related party IOU. Tether themselves says their reserves consist of related party receivables. there appears to be nothing stopping the related party to just stiff paying it back and walking away with everyone's bitcoin. It's a 10 person company with the banking history below that can't produce a financial statement and is completely unregulated. It's pure madness.

https://www.jdsupra.com/legalnews/t...ruary, the New,$850 million in customer funds.
 
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