Raoul Pal shares his thoughts on the destructive consequences of CB printing, the rise of central bank digital currencies, the death of stablecoins & why he sees Bitcoin as the life raft of this critical juncture in history.
Told my Mother to read 'The Creature From Jekyll Island' by Edward Griffin. Not only did she read it in one day, she sent me this quote, sells all her bank shares and has just bought her first Bitcoin. Tell everyone you know to read this book and read it yourself if you haven't!
Bitcoin Betting in the UK Is Getting More Popular. Convenience and anonymity fall into the top bracket of reasons to use them. Crypto allows players to make deposits online without sharing any banking details.
What is a crypto address? Blockchain addresses are strings of text that are used to send or receive cryptocurrency. You can copy & paste them or share them as QR codes. Also, some addresses can only be used once (Bitcoin), others can be reused (Ethereum), similar to bank account numbers.
I like Square as a company and see a lot of people are bullish about it. However, a few things stop me from investing. Be interested to hear thoughts but at the moment I am a Square bear. Management Jack Dorsey is a visionary. I don’t think this is controversial. However, his track record at Twitter is worrying for shareholders. Be it daily active user growth, ambition with acquisitions but ultimately failure to monetise a fantastic platform where you have big corporations, celebrities and even the President reaching out to 200m daily active users for free. With Square, the closed loop business model of businesses and consumers is again a fantastic concept that could break the power of Visa/Mastercard. Execution remains to be seen, of course. Competition Square operate in a highly competitive field for consumers and businesses. Let’s take consumers based on Square’s fast-growing Cash App. It offers things a normal bank does like deposits, ATM access, money transfer. If it becomes a fully-fledged bank offering loans, credit; it is competing against the likes of big incumbents (e.g. JP Morgan, Bank of America). Granted they’re dinosaur firms but they already have a huge customer base that are older and, therefore, have more money and deposits. This means it is much easier for them to monetise their customers resulting in high ARPU. Why would these lucrative customers, en-masse, want to uproot their finances to Square when their existing providers will be providing the same service by copying Square, as JP Morgan have done this week? Link For businesses, Square’s provides software offering (invoicing, PoS, online store) but face strong competition from the likes of Shopify who are taking a fully integrated service approach to SMEs which allows them to take their business online but also manage all their backend processes, including payments. This is a highly convenient service for entrepreneurs. Shopify already has 6% share of the online retail market. Square also provides hardware products which make it easy for SMEs, in particular, to take payments. However, there is evidence that retail is facing a more permanent shift in the US vs. the rest of the world with 60% less footfall today than a year ago Link. 58% of Square’s GPV is from food/drink, retail and professional services. Square may have good market share but it is a shrinking industry. And as a final piece, competitors in both spaces are generally in very healthy financial shape: Paypal, Shopify, Global Payments, Western Union and big banks are well-capitalised. Valuation Perhaps you can get over the above with the fact that Square has strong network effects and are able to win customers cheaply. However, in my opinion, Square is priced for perfection. Simply looking at a price/sales metric, it is trading 13x LTM. This is high but maybe relatively reasonable for a fast-growing business. However, 25% of Square’s revenue is accounted by Bitcoin “revenue”. This brings little value to Square (2% gross profit) and even Square themselves discount this revenue in their KPIs because it is “out of their control and not reflective of Square’s performance”. Now onto profits. It is not fair to be too hard on Square’s profitability. After all, it is in high growth phase and its marketing costs were its highest opex line item at roughly 35% for YTD. However, a cursory look at it is Enterprise Value / EBITDA (forward look to Dec2020), it is 242x. If we give credit for Square’s business plan for a further two years, today’s Enterprise Value over broker consensus forecast EBITDA for 2022, it is still a heady 77x. This is when Square is supposed to have EBITDA of $1bn which is three times more than it is forecast for Dec 2020. Priced to perfection. If you compare it to Paypal, it is trading at 39x and 27x EV / EBITDA for Dec 2020 and 2022. Conclusion Square has formidable backers like Ark Invest. I am also not a great believer in “dumb retail” overvaluing a stock for a prolonged period of time. But for reasons above, I am cautious with Square and yet it keeps climbing so please tell me what I am missing…
Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Rules:
All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
Discussion topics must be related to cryptocurrency.
Hey ladies and gents, and apologies for the folks over at /asx_bets, you will get your own exclusive post at some stage. There was a big splash made by the new entrant into the market, Superhero. They have some fancy backers. What are the main differences between us and them at the moment? CHESS Sponsorship This is the main one. They can offer $5 brokerage as you don't have your own HIN assigned to you and they can do all sorts of things with your trades to make money, as is done in the US. Superhero has clarified that trades will be consolidated at days end during settlement, in order to be able to provide cheaper trades. Awaiting clarification on the impact on this. Transferring Between Brokers As you all know, if you have your own HIN you can move that to CommSec, SelfWealth or NAB. Shift the HIN and everything goes with you. This is a bit more complex when you don't own the shares directly. They also charge you to transfer stocks in and out, $55 per stock as per their fee schedule. Corporate Actions Superhero has clarified corporate actions will be managed by the individual, not by them. Order Types Want to choose the price your order goes into the market? You need to pay $9 / month to do that. You only get "at market" orders on their free option. As a reminder: we're launching US trading soon and a mobile app alongside it.
So, there's a lot of discussion about the usual stocks, index funds, ETFs etc, but I was thinking about some of the alternatives to the norm. What kinds of alternative investments do you have or are you considering? Maybe just as a hobby, a bit of fun or a little punt. Personally, I did consider toys, butbitsbtrixky choosing the right ones.
What can we do as normal citizens to express our frustration to both Democrats and Republicans? Not like calling, but would not buying goods for a few days, or skip out on amazon prime day, or cash out our stocks, or not vote at all get them where it hurts?
It acts sort of like a Bitcoin bank account, and is used for buying, selling and storing Bitcoin. Interestingly, there are ATMs which also allow investors to purchase Bitcoins. These are called Bitcoin Depot, and they’re available in Alabama, Florida, Georgia, Massachusetts, Tennessee, and Texas. Investors deposit cash, scan a QR code, and are the proud owners of bitcoin currency. How to Buy ... Bitcoin Stock vs Bitcoin Shares. For bitcoin, the terms stock and shares are interchangeable. At the outset of bitcoin, approximately 50 bitcoins were mined from the genesis bitcoin block by a mysterious individual named Satoshi Nakamato. Today, after 3 bitcoin halving events, bitcoin miners are mining at a rate of 6.75 BTC per block which is far smaller than the original 50 BTC per block. As ... SHARES. 562. VIEWS. Share on Facebook Share on Twitter. You might have stumbled upon Bitcoin Bank when looking for ways to earn money online. This robot is being marketed as a tool that helps ordinary people make profits from bitcoin trading. Bitcoin Bank has a supposed profitability of up to 400% daily. Such a return reportedly helps users get a daily stream of income of up to $1k from a ... The bitcoin ATM industry has reached a milestone as the number of machines installed worldwide has surpassed 10,000 after seven years since the first machine was installed. There are now 10,162 ... Die einfachste Möglichkeit mit Ihrer Bank oder Ihrem Broker in die wachstumsstärkste Anlageklasse der letzten 10 Jahre 1 zu investieren. Seit dem 1. Januar 2020 ist Bitcoin um 84.38% gestiegen - der S&P 500 ist um 6.01% gestiegen
BITCOIN & CRYPTO Market PUMP! Banks, Stock Exchanges & Major Financial Institutions All Want Crypto Banks, Stock Exchanges & Major Financial Institutions All Want Crypto Thinking Crypto NOTICE: All Paid Reviews And Features on my channel were paid for by the crypto companies in the form of Bitcoin ranging from .2 to 1 BTC or in some cases equal or double value in the project's ... NEW CHANNEL: https://www.youtube.com/channel/UCH9HlTrjyLmLRS0iE1P4rrg I also play video games! https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA -----... Look Through My Books!: http://books.themoneygps.com Support My Work: https://www.patreon.com/themoneygps PayPal: https://goo.gl/L6VQg9 BitCoin: 1MbAUXsHa8XR... A new feature has been added to Blockcard’s recently released Bank accounts: users can now buy Bitcoin (BTC) and Ternio (TERN) directly with USD from their B...