• Welcome to the Cricket Web forums, one of the biggest forums in the world dedicated to cricket.

    You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join the Cricket Web community today!

    If you have any problems with the registration process or your account login, please contact us.

Personal Finance Thread

mr_mister

mr_mister

Well-known member
CricAddict said:
We need to speak more, MM. Mine is 50% crypto and 50% stocks. And out of that 50%, 50% in btc and 50% in alt. Interested to hear your thought process behind this investment. Are you 100% confident in crypto boom?
Click to expand...
Not 100% god no. I'm very new to this btw before I say anything

There's every chance Americans and stuff will need every last cent they have to be spent on food and rent soon I figure....

But in the event things are resolved quicker, and trump sends millions of people that $1200 free check soon (and even if it doesn't happen) I can see a lot of people having a dab on crypto because it might seem enticing

I don't know much about blockchain tech, I know link is meant to apparently solve the 'oracle problem' that held back btc, but I could see the whole thing rising again, even if it's for artificial reasons and people looking to get rich quick

Edit - oh and also for some reason link is rising like crazy compared to other alt coins atm. Like its already doubled in value since I put money in a couple of weeks ago. I don't see that it couldn't at least reach somewhere between litecoin or ethereum even if it comes nowhere near bitcoin itself

Like I don't see crypto falling over and folding if it hasnt already yet. It's slowly gained overall since the big crash the other month
 
Last edited:
vcs

vcs

Well-known member
Stock market and finance is boring enough to make me want to kill myself

He himself prefers talking about astronomy and stuff with me lol
 
D

Daemon

Well-known member
vcs said:
What does that even mean
Click to expand...
My understanding is very rudimentary tbh, maybe someone like weldone can help

Basically oil is mostly traded on exchanges as contracts known as futures, which stipulate that you exchange a set amount of oil at a set price on a set date (typically a month ahead). Companies that actually use oil need this to hedge against volatility.

However traders use these to speculate on prices. Now obviously they cannot take physical delivery of the oil which is why they sell contracts before expiry.

There's a couple of other ways to trade (CFDs, options, ETFs) that I'll skip because I don't want you to kill yourself :p
 
D

Daemon

Well-known member
RossTaylorsBox said:
So basically you have to come and physically pick up thousands of oil barrels?
Click to expand...
Haha if you were holding such contracts you technically could (I think). I'm not a 100% sure but traders either have to close their position or take delivery of the oil. I don't know if they're obligated to the latter if they don't close their position though.

The May delivery contracts are expiring today, and producers aren't able to sell any because there's no one willing to buy up and store the oil. They're paying people to take the oil off their hands because they have literally run out of storage options.
 
Last edited:
zorax

zorax

likes this
haha yes it's brilliant

the USA is taking some for their federal reserves. What will happen to the rest of the oil that they cannot offload?
 
You must log in or register to reply here.
Top