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Replies: 99
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Webmaster [∞]
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TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 11:53 AM
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Heisman Winner [85723]
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My own modest 401K has been in a prolonged trainwreck as
May 21, 2022, 11:57 AM
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well, ever since "Creepy Uncle Joe" Biden took office.
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Freshman [-74]
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It's transitory, errr Putin's fault, errr covid, err
May 21, 2022, 12:28 PM
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Trump
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Orange Immortal [62738]
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Clemson Conqueror [11470]
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Re: My own modest 401K has been in a prolonged trainwreck as
May 21, 2022, 1:35 PM
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As hard as the Fed. Gov't is trying these days, they still have not (yet) completely ruined the dollar.
Crypto, on the other hand, is a bunch of air and hype.
Sorry that T.Law got such terrible financial advice; wonder where his parents were in T.Law's decision, or whether they were told to buzz off.
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All-Pro [718]
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Re: My own modest 401K has been in a prolonged trainwreck as
May 21, 2022, 7:39 PM
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I can assure you that the marketing deal that TL reached was backstopped for prevent him from taking losses on the conversion.
My advice comes from Northern Trust and the advice for us was go ahead and take some risk but no more than 5% of your investible assets.
The political aspect is silly. Each side ends up in the same place eventually. Democrat policy bubbles inflate slower and bigger. Republican faster and more frequent. Both leave the middle class schmucks holding the bag. The firms get their fees, so who cares…and the wealthy always seem to come out ahead or at least avoid a bad loss. This is one place I would agree that it’s rigged and has been for a long time.
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Orange Phenom [14758]
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Re: My own modest 401K has been in a prolonged trainwreck as
May 21, 2022, 8:44 PM
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If he was holding bitcoin and it went down he lost. Period.
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Freshman [-94]
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Yes and no.
May 21, 2022, 10:31 PM
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You only lose money when you sell an asset for less than The purchase price.
If you buy stock at $100 per share and it goes to $500 per share your gain is only on paper unless you sell the stock. But it five years later the stock is worth $50 per share you’re still basically in the same financial position. Your net worth has gone up and down based on the stock price but your financial situation day-to-day hasn’t really changed unless you were using that stock as collateral to borrow money.
Trevor Lawrence has only been in the NFL one year. When you make an investment like that it’s done with a long-term horizon. He’s lost money on paper but we are years away from knowing what the final story will be, but I’m confident there are safety nets in place since this was a marketing deal.
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Orange Phenom [14758]
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Freshman [-94]
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Wrong
May 21, 2022, 10:15 PM
[ in reply to Re: My own modest 401K has been in a prolonged trainwreck as ] |
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A long period of republican control of the government with a republican party not manipulated by the establishment wing, a.k.a. neocons and rhinos, would result in a far better America and economy because the government would be a fraction of the size it is today. But ultimately the biggest detrimental effect on the economy has been the federal reserve. They are the ones that manipulate the economy way too much, but progressive policies are absolutely catastrophic long-term!
Message was edited by: Lowcntry_Tiger®
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All-American [554]
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Re: Wrong
May 22, 2022, 8:06 AM
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It all started with Nixon taking us off the gold standard. The government is free to print money whenever they want, and do.
Then again, it really started with our Founding Fathers. They never thought about term limits, because they never envisioned anyone wanting to make a career out of politics. Now the first objective of the ######## on both sides, is to get re-elected. Very few care about you and me.
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Mascot [20]
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Re: Wrong
May 22, 2022, 8:18 AM
[ in reply to Wrong ] |
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You are spreading false information for no reason, but to try to make one party look better than the other. If you look at the financial data for the US, long term, the economy has always performed better when the Democrats had total control (source, any of the stock markets, labor info, and Federal Reserve). Please speak with data.
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Team Captain [465]
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Re: Wrong
May 23, 2022, 7:05 AM
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Not anymore, Ace. The economy under Obama was terrible unless you got a government job. The morale among job seekers and small business owners was horrible. With Trump, optimism returned and we had the best economy in 70 years and lowest unemployment for blacks on record, gas prices fell to previously unimaginable levels, energy independence was a reality and consumer confidence went through the stratosphere. Biden and the Democrats maliciously have destroyed it. THAT is the reality.
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110%er [3625]
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Game Changer [2023]
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Once Nixon depegged the dollar from gold …
May 21, 2022, 2:01 PM
[ in reply to Re: My own modest 401K has been in a prolonged trainwreck as ] |
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… it became “as stable” as crypto as the value given to it is from those that believe in it. As far as Bitcoin, there is a finite amount that can exist, so the value will continue to increase.
However, there’s nothing to keep the Federal Reserve (a non-government entity who no one will tell you who owns it) from printing money out of nothing — causing inflation.
I’ll take gold, silver, and other precious metals instead…
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Freshman [-94]
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RE: Bitcoin
May 21, 2022, 10:23 PM
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That’s the theory that’s being sold.. For something to go up in value people have to think it has value. So far bitcoin is acting exactly like all the other assets, which we were told five years ago would not be the case. So as of now theories around bitcoin are not holding up.
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Mascot [20]
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Re: Once Nixon depegged the dollar from gold …
May 22, 2022, 8:14 AM
[ in reply to Once Nixon depegged the dollar from gold … ] |
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Unfortunately, you are incorrect, the Federal Reserve does not print the US currency. The US currency is printed by the Bureau of Engraving and Printing, an arm of the Treasury Department. Please stop spread false information.
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Orange Elite [5238]
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Orange Beast [6200]
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CU Guru [1552]
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Re: My own modest 401K has been in a prolonged trainwreck as
May 21, 2022, 8:54 PM
[ in reply to My own modest 401K has been in a prolonged trainwreck as ] |
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Entire world has economic downturn and supply chain issues and high gas prices due to a confluence of crap over the last 3+ years.
Right wing: blames Biden.
I can't roll my eyes far enough for that stupidity.
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Freshman [-94]
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The current economic situation was in fact largely created by
May 21, 2022, 10:43 PM
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The Democrats and other governments doing incredibly stupid things regarding Covid and their lust for power and control as well as greed!
I have a BS in finance from Clemson and I’ve been in the mortgage industry for about 30 years. I can draw you a perfect map from Jimmy Carter, to Bill Clinton, to the 2008 financial collapse.
The American economy has also been harmed by the American government getting bigger and bigger and bigger unconstitutionally for generations. Capitalism and democracy are struggling because of political corruption, crony capitalism, unions running amok long after their usefulness, and a whole host of other reasons all directly at the feet of leftist. The problems in the republican party are not because of conservative or libertarian policies, but the establishment wing, the neocons and rhinos. Many of those neocons and rhinos are scampering back to the left where they belong because the Democrats have become the party of war and the overturning of Roe v. Wade. If we could purge the rest of the Republican Party of the establishment wing we could have some true progress made with the Republicans in power.
Scuttle the Department of Education, department of interior, sign the prime act, regain common sense control over the EPA, cancel funding to the UN and NATO, eliminate the FED, pass a flat tax and nuke the IRS, and a few other reforms would be my first day in office. But then a girl can dream!
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All-TigerNet [5859]
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You skipped Bush being president from 2000 to 2008....
May 21, 2022, 11:24 PM
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but ok, 2008 was jimmy carter's and bill clinton's fault....
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Oculus Spirit [43130]
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Commissioner [1284]
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Heisman Winner [79961]
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This is the front desk,
May 21, 2022, 12:02 PM
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We found your enhancement products left in your room. Page us for prompt return.
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Orange Immortal [66539]
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Don't put all of your (bonus) eggs in one basket.***
May 21, 2022, 12:05 PM
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Varsity [104]
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Re: Don't put all of your (bonus) eggs in one basket.***
May 21, 2022, 12:14 PM
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Yeah he got poor advice from someone
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Orange Blooded [2495]
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Re: Don't put all of your (bonus) eggs in one basket.***
May 21, 2022, 1:01 PM
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He sure did. Most financial advisors say to put a ver small amount in crypto.
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Ring of Honor [21076]
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110%er [3989]
TigerPulse: 100%
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Ouch
May 21, 2022, 12:26 PM
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That definitely hurts.
Personally, I would've maybe put 10-25% if I were in his position.
The entire signing bonus -- OUCH.
Hindsight is always 20/20 and experience can be the best teacher so hopefully this helps him learn moving forward.
The only good here is it's only a loss if you sell or crypto goes belly up so maybe it goes back up down the road.
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Orange Immortal [62738]
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Re: Ouch
May 21, 2022, 1:38 PM
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Yes sir, and now, Trevor, and wife will have a very tough time making on 9.3 mil until his next pay check. Maybe he can get a loan from Dabo until he recovers, I mean only having 9.3 mil, and living in Jacksonville, he will be at risk of his power being turned off before the year is out!!!
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Game Day Hero [4509]
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I don’t get this crypto junk, reasons:
May 21, 2022, 12:28 PM
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Every time I try to find a good explanation of it I find multi page tomes of verbiage and when done reading, still not clear exactly what crypto is. Sounds like bull manure to me
Give me real assets: gold, silver, platinum and Budweiser.
Message was edited by: OhWiseOne®
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Ring of Honor [23710]
TigerPulse: 100%
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Corona beer is a better investment.....
May 21, 2022, 12:45 PM
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...or it was!
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National Champion [7831]
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Re: I don’t get this crypto junk, reasons:
May 21, 2022, 1:25 PM
[ in reply to I don’t get this crypto junk, reasons: ] |
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Bitcoin and other digital currencies are simple enough to understand. Ethereum and the addition of smart contracts can get a bit overwhelming.
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Clemson Conqueror [11470]
TigerPulse: 98%
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Re: I don’t get this crypto junk, reasons:
May 21, 2022, 1:30 PM
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I've never understood the 'intrinsic value' of cryptocurrency.
Crypto always sounded like a "Tulip Bulb" frenzy kind of investment. I.e., founded on nothing other than the fact that other investors put money into it, and that "Crypto" currency sounded cool when talking to your friends.
(Does anyone remember - - - or does anyone know the history - - - about the Tulip Bulb speculative frenzy?)
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Legend [6705]
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Re: I don’t get this crypto junk, reasons:
May 21, 2022, 2:43 PM
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Crypto has no real value and can literally disappear overnight. It has been pumped up like other assets due to trillions of dollars being printed and given out.
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Orange Immortal [66539]
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Re: I don’t get this crypto junk, reasons:
May 21, 2022, 5:56 PM
[ in reply to Re: I don’t get this crypto junk, reasons: ] |
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Tulip bulb speculation in the Netherlands in the early 1600s created a lot of situations like Trevor is possibly in now.
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National Champion [7831]
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Re: I don’t get this crypto junk, reasons:
May 22, 2022, 11:38 AM
[ in reply to Re: I don’t get this crypto junk, reasons: ] |
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In Bitcoin’s case, the value comes from its limited supply and high demand. There will only ever be 21 million Bitcoins in existence. And we give it value as people simply by buying and holding.
Bitcoin transactions can be made without a central authority or “middle-man.” Bitcoin doesn’t have a Federal Reserve that can increase the supply. Bitcoin doesn’t need banks to act as the intermediary between transactions.
And the blockchain technology makes the transactions secure across all computers. Transactions can also be made in as little as seconds or a maximum of 12 minutes. I can send someone Bitcoin across the world and they will receive it very quickly, compared to the usual days that it takes banks. Also, with lower fees.
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Legend [6705]
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Re: I don’t get this crypto junk, reasons:
May 23, 2022, 10:21 PM
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My issue with Bitcoin is it seems to be nothing that people say it is… people say it’s digital gold or a gold replacement, however, it tracks with the stock market with wild swings. It’s not a currency either. It’s slow and very expensive to do any kind of transaction. It’s obviously not tangible and has no intrinsic value. I guess it’s scarcity is all it has going for it in my opinion.
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Clemson Conqueror [11470]
TigerPulse: 98%
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Re: I don’t get this crypto junk, reasons:
May 21, 2022, 1:33 PM
[ in reply to I don’t get this crypto junk, reasons: ] |
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When people attempt to explain Crypto currency, they talk in circles and seem to have no understanding of what 'intrinsic value' means.
I'm waiting (but not with any excited anticipation) for a logical explanation why Crypto currency has fundamental value to anyone.
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Dynasty Maker [3113]
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Game Day Hero [4509]
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My Sons friend ...
May 21, 2022, 8:53 PM
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Just bought a 650K house, for CASH
He was lucky
He is 24 years old
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Orange Elite [5238]
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National Champion [7992]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 12:35 PM
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Whoever his financial advisor/advisors are, they should be fired.
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All-Pro [747]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 22, 2022, 12:33 PM
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But they're more likely making his money grow outright. I wouldn't fire them if they're doing that instead (this article assumes a lot, to be fair, & implies he's only lost money and to the tune of more than half his initial investment, which again, simply seems incredibly unlikely by nature).
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Campus Hero [14074]
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Clickbait from the action network site
May 21, 2022, 12:45 PM
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The article said he COULD be down 10M but the truth is they have no dayum clue what his balance looks like. Trevor never disclosed what he was investing in or even how much he was investing. He coulda dropped the whole 23M in crypto of any mix, he could have used half of his bonus to buy crypto and the other half is still sitting the account untouched, he coulda bought 100K in crypto and then moved his bonus money into another trading platform, or any combo of these. All he did was fund the account so that he could put out a press release saying he funded the account, for we know it coulda ended there.
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Orange Immortal [66539]
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Game Day Hero [4524]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:25 PM
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And this my friends is why I usually counsel my clients to look at crypto as they would the casino. Only put in what you are 100% comfortable losing. It is a quagmire for a number of reasons; hence why I keep my clients mostly away from it.
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Orange Elite [5125]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:39 PM
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Do you recommend the same for the stock market? Do you recommend that they hold onto failing stock rather than getting out before it goes bad?
Isn’t it possible that Trevor got out when crypto spiked and possibly made a fortune?
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All-Pro [747]
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Not likely out of the market by nature
May 22, 2022, 12:30 PM
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He's likely tied into crypto by the contract he signed with this crypto broker contract.
However, he almost certainly was trading (or likely had brokers trading for him) multiple if not dozens of times a day making incremental gains simply by the nature of having such a high value to trade with & the nature of exchange markets like crypto & FOREX.
In all sincerity he likely had already increased the value on his initial investment & may have even had a boon on this recent downturn (rather than a guaranteed & enormous loss if he simply went long on his initial investment, which seems exceptionally unlikely considering the enormous initial investment in particular).
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Game Day Hero [4143]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:41 PM
[ in reply to Re: TNET: Crypto crash costing Trevor Lawrence millions ] |
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Thought about buying shares in a crypto ETF but held off. Need to check the current price to see if it may be more attractive.
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Hall of Famer [8192]
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He did this is part of an endorsement it sounds like so my guess
May 21, 2022, 1:26 PM
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Is that it is insured in some form or fashion - at least a large portion of it. If it wasn’t, then he got horrible advice…
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National Champion [7831]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:27 PM
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I bought in early, so I’m still positive.
Just buy the dips. We’ve been here before, especially back in 2017. Bitcoin and Ethereum have stood the test of time. Both are safe investments, IMO.
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Freshman [-94]
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The test of time?
May 21, 2022, 10:49 PM
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People have only been paying attention to crypto for about five years. We are a long way from knowing whether crypto is going to be a sound investment. Right now it’s 100% theoretical.
Furthermore, it’s currently only a store of value and it’s less liquid than other assets.
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Campus Hero [13991]
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Other than inflation, stock market, babies going hungry,
May 21, 2022, 1:29 PM
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supply chain in a wreck, crypto crash and worker shortages, we're doing pretty darn good with grandpop dribbles in charge!?
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Game Changer [1911]
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Re: Other than inflation, stock market, babies going hungry,
May 21, 2022, 1:59 PM
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supply chain in a wreck, crypto crash and worker shortages, we're doing pretty darn good with grandpop dribbles in charge!?
Don’t the border mess that Kamala was supposed to be in charge of and the Afghanistan withdrawal disaster.
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Orange Blooded [2556]
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Orange Elite [5125]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:33 PM
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You assume he kept everything in crypto.
I would imagine he converted most , if not all, when the crypto market started tanking.
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Orange Blooded [2490]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:34 PM
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Sounds like we have a bunch of never Trumpers here on Trump-net...uhh, I mean T-net. Bwahhahahaha
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Game Changer [1795]
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Let's go Brandon! And the horse he rode in on****
May 21, 2022, 3:03 PM
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Hall of Famer [9096]
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I’m a millionaire
May 21, 2022, 1:41 PM
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I’m not a millionaire
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Campus Hero [13635]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:52 PM
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Strangely enough, I’ve recently discovered that I own all of the Earth below 30,000 feet beneath sea level. I’m now selling both commercial & residential acreage to savvy investors. Don’t miss this amazing opportunity.
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Game Changer [1795]
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Swap for carbon credits instead of cash?****
May 21, 2022, 3:11 PM
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Campus Hero [13635]
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Re: Swap for carbon credits instead of cash?****
May 21, 2022, 3:53 PM
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I don’t really need Carbon Credits as I also own controlling interest of both sunlight & wind.
If you have any Martian mining rights I think we can get a deal done.
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Orange Blooded [2556]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 1:58 PM
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I’m really disappointed with Treaver. I wouldn’t touch Crypto currency with a ten foot pole. It has no economic function other than to gamble. What happened to the principal of diversification? A modest return of 5%in a well diversified stock portfolio or a S&P 500 Index fund would generate over a million per year.
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Game Day Hero [4509]
TigerPulse: 99%
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Bond market will give a 7% yield now and ..
May 21, 2022, 4:27 PM
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8% very soon. That is much better than recent history, safe place for 401’s now
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Orange Elite [5238]
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Re: Bond market will give a 7% yield now and ..
May 22, 2022, 1:15 AM
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Yeah, with inflation at 15-20% how can you lose?
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CU Medallion [20883]
TigerPulse: 100%
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et tu Tigernet?
May 21, 2022, 1:59 PM
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Bitcoin and all crypto assets are wildly oscillating intermediate and long terms investments. Trevor Lawrence has nothing to worry about.
My two year of experiences with the currently rancid crypto market tell me at least five things:
1) Crypto assets are more variable than stock investments (and Netflix is down 70%.) There are blue chips such as BTC, ETH, ADA, DOT, AVAX, LINK, SOL & a handful more. They are cyclical like commodities & raw matl sectors, and they are all way down for many reasons. Some blue chip crypto assets have application utilities that will merge with internet/fintech applications to a Web 3.0 and beyond.
2) Most crypto assets (in the thousands) are speculative with no intrinsic value (e.g. DOGE, SHIB, etc.)
3) The American and worldwide public are massively ignorant about the pluses and minuses of crypto assets. They do no research, read one article or watch a few video, and they are experts. No.
4) Investors should be skeptical. Crypto assets are not for most -- only those with an extremely high tolerance for risk who can buy & hold to take advantage of long term capital gains tax rates. Those who need short term funds to pay mortgages, car or boat payments or bank notes should not purchase.
5) Crypto should routinely be a small % of a diversified portfolio with real estate, stocks, etc.
The big money whales, big banks, institutional investors, and hedge funds who are currently shorting the markets are also buying blue chip crypto assets in massive quantities for pennies on the dollar after purposefully scaring most of commercial retail investors out of the market. When they have accumulated sufficient quantities, the whales's cronies with the NYT, WSJ and financial media will begin an onslaught of reports stating that the crypto market is still risky but ready to boom. Retail investors will once again enter the market. Massive 2x, 3x, 5x margins will ensue. Will that be three months or three years? Trevor Lawrence can afford to wait and find out. Most cannot.
It is prescriptive to watch the American public reaction when internet stocks such as MSFT and AAPL came out. MSFT was a punchline on late night media and morning shows. Buffet and Munger questioned Apple's technologies. Now Apple is Berkshire's largest holding. Do your own homework. Make your own decisions. Doing nothing with crypto is the best path for most.
https://www.youtube.com/watch?v=UlJku_CSyNg
https://www.youtube.com/watch?v=gipL_CEw-fk
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Orange Elite [5238]
TigerPulse: 99%
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Re: et tu Tigernet?
May 22, 2022, 1:18 AM
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Good stuff SocMan
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All-Pro [718]
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Re: et tu Tigernet?
May 22, 2022, 7:47 PM
[ in reply to et tu Tigernet? ] |
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Nice post. TU
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Oculus Spirit [43130]
TigerPulse: 100%
57
Posts: 43555
Joined: 1998
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Where were his parents? And why was he not listening to them
May 21, 2022, 2:01 PM
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Nobody is surprised that crypto tanked.
Invest in companies that pay out good dividends and have good bond ratings and good p/e compared to others in their sector. You might not get rich quick, but you won't get poor quick either.
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CU Medallion [20883]
TigerPulse: 100%
52
Posts: 15323
Joined: 2010
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How about do both?
May 21, 2022, 2:25 PM
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I'm a relative old timer, and I'm taking a beating on on stocks, real estate and crypto like most market investors. I have Fisher Investments managing two accounts, I manage some of my own investments (incl. crypto), and I'll just hold on to most investments (and keep expenses down) as well as I can until the market turns around. Hopefully by year end.
That said, I invested a small chunk in blue chip cryptos and the returns (and oscillations) can be significant. Not for everyone, but most naysayers are shooting from the hip. Invest or don't invest. It's a personal and family decision. Be careful and good luck to all T-netters out there whatever your investments ...
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Orange Elite [5125]
TigerPulse: 100%
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110%er [3626]
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 2:29 PM
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As I understand it, the $22 million in bonus money was put into his account but that doesn't necessarily mean that he bought and held 100% of his principal in crypto. Even if he did, he could have also sold for a profit along the way, it's difficult to know.
The stock market in general hasn't been overly favorable either this year. If he bought Netflix at $590, he'd be down 70% right now, so it's not just crypto.
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Asst Coach [879]
TigerPulse: 76%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 2:31 PM
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Pretty funny (or sad) to hear the feedback on here from the Old Hats.
World kind of leaving you behind - can’t handle the smoke.
Portfolios took 40% buying power hits and still proclaiming the power of a USD. (The same people who gladly collected stimulus checks and used them for non-necessities.)
Volatility is part of the early stages of innovation.
How do you think empires (or economies) are built? There’s death, despair, famine before the feast.
By the time you understand that, you’ll be buying in at the peaks.
Cycle repeats itself until the end of time…
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Game Changer [1795]
TigerPulse: 88%
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So that's a Strong Recommendation on crypto?****
May 21, 2022, 2:54 PM
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Paw Warrior [4797]
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Hate this happened to TL but hopefully it'll serve as a cautionary tale
May 21, 2022, 3:24 PM
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to other guys & gals about where they invest their money. Even with has hard-hit as financial stuff have been so far this year, due diligence should be done on any investment option & all eggs shouldn't be placed in 1 basket.
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Game Changer [1764]
TigerPulse: 100%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 3:28 PM
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now that was idiotic of trevor---doesnt he even have an advisor......
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Orange Elite [5125]
TigerPulse: 100%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 3:44 PM
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What’s idiotic is thinking he just sat around and let his $ disappear without getting out…
I swear most people in this thread are dumber than a bag of rocks.
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Rival Killer [2891]
TigerPulse: 93%
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Sorry not sorry. Shouldn’t have trusted the Matt Damon commercials***
May 21, 2022, 4:56 PM
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National Champion [7641]
TigerPulse: 100%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 5:06 PM
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Why would a guy take enough money to be set for life and immediately invest it in the riskiest thing on the planet?
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All-Pro [747]
TigerPulse: 74%
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He's still set
May 22, 2022, 12:22 PM
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Make no mistake, he's still set for life; this was ONLY his signing bonus.
And while it's a large amount of money, this story seems to suggest it was merely an initial investment & meant to go long, which is inherently counter-intuitive to currency exchange by nature where vastly more trades are made in those markets per day than traditional stocks or futures.
In all sincerity, he almost certainly gained value since the initial investment & may have even in this down turn; we simply don't know, the story doesn't tell us & assumes a lot of things that seem counter-intuitive to exchange markets is all.
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Orange Blooded [2723]
TigerPulse: 77%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 5:06 PM
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Yeah anyone that couldn’t see this coming and would invest millions of dollars (or $1) into cryptocurrency either got some really bad financial advice or are just plain dumb.
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Game Changer [1818]
TigerPulse: 68%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 5:17 PM
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Didn’t he graduate Clemson? That’s crazy hope goes up faster for him
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Orange Elite [5125]
TigerPulse: 100%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 5:35 PM
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So, before writing and publishing such a ridiculous “article”, did y’all bother trying to contact Trevor to see what he did with his investments prior to the crypto downturn? No?
Oh, I see, y’all are just starting #### for clicks. Like usual.
Stop pretending to be anything other than a rumor site…you literally can’t trust anything you read here.
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Orange Beast [6200]
TigerPulse: 97%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 5:48 PM
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Take a look outside at your gas pump your grocery store...........wake up WOKE
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All-Pro [747]
TigerPulse: 74%
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To be fair, that's Tigernet's MO
May 22, 2022, 12:16 PM
[ in reply to Re: TNET: Crypto crash costing Trevor Lawrence millions ] |
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I understand (& sometimes struggle with) the way Tigernet gets people to be triggered to engage; in no uncertain terms, they do it better than anyone else in the college sports forums nationwide (search for message board success lists & Tigernet is nearly always at the top). It's frustrating, but Hood has been making bank for ages now it seems & I KINDA can't fault him for that.
But you're right---all this does is calculate math based on if Trevor went long with his investment and did absolutely nothing since.
The problem is that doesn't make sense with this or really ANY currency exchange outright; FOREX is fluid by nature & massive gains are made with large investments like his but in small increments by nature.
For all we know, and I mean this with full sincerity, Trevor could have been moving & trading daily (as most FOREX traders do) & may be substantially up on his initial investment, & even moreso with this downturn; it's such a large, dramatic change, I'm certain many people made vast value from it. Who's to say Trevor isn't one of them?
I don't mean to suggest Trevor necessarily got even more rich here (clearly a value loss is probable), only that we simply don't know & the assumption of loss is exclusively based on going long oddly in an exchange market & making no trades from his initial investment.
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CU Medallion [18160]
TigerPulse: 94%
52
Posts: 28095
Joined: 2003
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What's the fastest way to make $9.3 million in crypto?
1
May 21, 2022, 6:15 PM
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Invest $22.6
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Athletic Dir [1149]
TigerPulse: 67%
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lol***
May 21, 2022, 9:15 PM
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All-In [10800]
TigerPulse: 60%
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Joined: 2006
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 21, 2022, 6:33 PM
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Anyone that would put all their eggs in one basket has never been to a farm that has a bunch of kids.
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Orange Elite [5238]
TigerPulse: 99%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 22, 2022, 12:43 AM
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It's an unrealized loss. Crypto market will come back up and surpass anything it's done in the past.
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All-Pro [747]
TigerPulse: 74%
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Next to no info here on his unique position though
May 22, 2022, 12:08 PM
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It's interesting; this tells us SO little.
For example, does he just sit on his currency & go long (as the story suggests) or does he trade with it daily & move with the market so he adds value when the currency loses it? Is he tied in to going long as part of his signing bonus deal contract? ?? What currencies did he invest in and then did he simply never touch ANY of them outright?
Any FOREX trader or any other kind of currency exchange is usually making multiple trades every day; you can certainly make money when values fall, or with futures, for example, rather than a drop being exclusively bad... unless you're exclusively going long.
Crypto (or any currency exchange) investments being a long game seems misguided at best in my experience (compared to your example of traditional stocks, I mean).
Bottom line, in all sincerity, Trevor could have instead made a ton more value if he was trading & exchanging rather than sitting & losing over half its value. While I'm sure he likely has people wisely helping him manage these trades if they're happening, we simply do not know from this story is all.
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CU Medallion [18160]
TigerPulse: 94%
52
Posts: 28095
Joined: 2003
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Hey look, somebody wants us to see how much they know
May 22, 2022, 1:23 PM
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about crypto
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All-Pro [747]
TigerPulse: 74%
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Re: Hey look, somebody wants us to see how much they know
May 22, 2022, 2:14 PM
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Markets in general to be fair, but yeah, you don't think that's relevant?
Again, all I'm saying is it's not likely he just lost over half his value in the market and sat on an initial crypto investment since the first day, know what I mean?
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CU Medallion [18160]
TigerPulse: 94%
52
Posts: 28095
Joined: 2003
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Color me impressed Grey***
May 22, 2022, 3:04 PM
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Game Changer [1818]
TigerPulse: 68%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 22, 2022, 3:58 PM
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Didn’t he graduate Clemson? That’s crazy hope goes up faster for him
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Game Changer [1818]
TigerPulse: 68%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 22, 2022, 3:59 PM
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Didn’t he graduate Clemson? That’s crazy hope goes up faster for him
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Hall of Famer [8251]
TigerPulse: 100%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 25, 2022, 11:32 PM
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If he doesn't panic and sell, he will be in great shape.
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Associate AD [1051]
TigerPulse: 91%
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Trevor was hoodwinked
May 26, 2022, 4:20 PM
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I feel bad for him. Apparently he was deceived into thinking he was going to make big bucks which he will not...
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Letterman [290]
TigerPulse: 75%
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Re: TNET: Crypto crash costing Trevor Lawrence millions
May 27, 2022, 1:07 AM
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Crypto is just a ponzi pyramid scheme, and it always was. "Crypto" doesn't sell an actual product or service. No one can name what the actual product of Crypto really is. What it is actually used for.
Crypto bros as their called, just use a bunch fancy sounding tech words like the blockchain, ledger, etc to try and explain it. It's just made up internet currency that was only ever worth the real currency people were pumping into it.
Feel bad for Trevor though.
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