GameSTONKS Thread - Power to the meme's

[Day]

Still beats just leaving it in a checking account getting like 0.01~0.03%.

[Zetanio]

you can keep cash money in your checking. .5% vs 0% is whatever when its not a TON of money.

[Julian]

It's so much easier to write a check or go to an ATM or do a bank to bank transfer and have the money as cash in my hand within 15 minutes no matter the amount. There's also the inherent risk of things going down at all. I'd rather they not move in a savings account or at a low apr because that's what my investments my retirement and my IRAs are for.

Also taxes.

Yeah, leaving it in a HYSA is best bet. Sure, it's not much, but getting an extra $10-25 a month thrown into your account isn't terrible. Can also try looking for no-penalty CD's, though I doubt you'll find anything that much better.

I wouldn't invest something you're going to want to withdraw/use in the next few months. I haven't sold anything on my Schwab brokerage account, but I assume it should be relatively painless to sell, transfer to Schwab checking, and withdraw, if you had the appetite for it. (Too risky for me. Also, tax implications.)

edit: Also, uh, yeah, pre-allocated cash obviously stays in a checking account. I just take however much I have left (minus a $1k cushion or so) and transfer those leftovers into my savings every month.

[Modoru]

I don't really have a lot rn due to upcoming down payment but otherwise I'll be looking at those rates more closely

[Julian]

I don't really have a lot rn due to upcoming down payment but otherwise I'll be looking at those rates more closely

I had my downpayment fund in a HYSA. Rates were decently better last year (started around 2% then slowly fell to 1%... and then lower), from August '19 to Nov '20, starting with $2k and growing to $31k, I got $222.71 in interest, as well as a $151 cash bonus from a promotion they ran last year. It's not a lot, but it's nothing to scoff at either.

[BerenTebogo]

Sath are you an eth validator? Also, are you golding GRT? Project looks interesting, I'd drop a few bucks man. Damn, my memelines show eth approaching the 3.618 fib extension. I almost sold my bag ngl but I'm going to ride it a bit more. AAVE is up a 22%, thank you based ghosts.

I do not have 32 ETH and I don't do the pool. I almost bought GRT earlier today on the trendline break but all my positions are green and I'm being strict about not chasing candles because eventually I'll get burned for more than I make. GRT is definitely a good trade today.

I re-entered AAVE like 2 days ago with a few k like right after Mark Cuban said it was one of his bigger holdings. Figured that was good for a pump. So I am in on this move at least.

GRT is in price discovery rn afaik so I'd just hold it honestly. Nothing is going down til ETH hits 2k.

Edit: I am up like 5k on SUSHI since I posted about it the other day and I'm staking at ~9.5% APR. I think it still pulls at least a 2x from here when things really take off.

Edit edit: Also memelines and fib extensions are great and all but 2k ETH is definitely a psychological target that is going to get pushed to. Also with ETHBTC trending towards 0.055 and maybe even further it fits with the likely rise that BTC is going to have. The BTC daily chart looks really good today. Strong closes.

[Ksandra]

Btw, I am still a lending club advocate, but I wouldn't invest in it until covid is over. My net annualized return is 9%, but it used to be over 10% pre covid. I took a few hits for people who could no longer pay their loans and one person died.

Still 9% despite that is really good, but I haven't added anymore money to it, and won't until things start stabilizing more. Once it does, I recommend it for extra cash that you don't mind not getting fully back for 2-3 years depending on the loan you invest in.


[edit] Welp, this reminded me to check my notes, and while they are totally fine it looks like Lending Club is going through a merge and you can't buy new notes now anyway. Their are completely changing their system it sounds like. RIP or maybe...stock opportunity?

[Zetanio]

Lending Club was dope but I think they're toast as they were.

[Ksandra]

Zet as not an actual financial advice, do you think it smart to put some stocks into them? Looks like it's been steadily rising, but maybe too late to bother getting in that?

edit: This is the letter they put out to investors:

https://help.lendingclub.com/hc/en-u...Notes-Platform

Earlier this year LendingClub announced that it signed an agreement to acquire Radius Bancorp, the holding company of Radius Bank. Combining the two companies is ground-breaking. By becoming the only full-spectrum fintech marketplace bank, and the first public U.S. neobank, LendingClub can unlock new value for borrowers and investors by using the marketplace to both pay less when borrowing and earn more when saving.

As we move towards becoming a full-spectrum fintech marketplace bank, we have looked closely at our current and future product suite and have started development of new products to help our members keep more of what they earn and earn more on what they keep. Unfortunately, under a prospective banking framework, it is not economically practical for LendingClub to continue to offer Notes. So, we had to make the difficult decision to retire the Notes platform effective December 31, 2020.

As a current investor, what do I do now?

You may continue investing in new Notes until we stop offering them on December 28. After we stop offering Notes, you will continue to receive principal and interest payments on the Notes in your account as you do today.

We are partnering with Radius Bank to develop a high yield savings account (Founder Savings) available exclusively to our Notes investors as a sincere thank you for your dedication to the community. The new account will include an auto-save feature, which will enable you to automatically transfer your available Notes cash account balance to your Founder Savings Account on a weekly basis. If you don’t choose to open a Founder Savings account, your Notes account cash position will continue to build until you transfer those funds to another financial institution. Click here for more information on the Founder Savings account.

[BerenTebogo]

https://twitter.com/Fullbeerbottle/s...920939008?s=20

Friendly reminder for crypto traders. Take profits and stick to rules. If you don't, somebody is going to eventually dump on you and you'll leave tens of thousands on the table when you fail to realize the shift in market structure when dips start to become more than dips.

I will keep hammering on this point as long as we are discussing crypto trading cuz the coming months are going to make everyone look like geniuses right up until they look like idiots.

[Zetanio]

I don't give investment advice. Do your research and judge your risk.

That being said, they are pivoting to BaaS and away from their arguable strength (marketplace lending). I think it's a risky move by them as that market is fairly saturated. They're banking (heh) on their established goodwill to carry them through the transition. That makes me leery.

LendingClub Still Has Some Challenges Ahead

I can’t speak to the likelihood of the deal to receive regulatory approval, but the two firms expect the process to last 12 to 15 months—a long time in today’s fintech environment.

Even with regulatory approval, however, LendingClub isn’t looking at a “build it and they will come” environment.

An S&P Global article said LendingClub surveyed its members and found that 90% would consider switching to the company as their primary bank.

Maybe there’s a decimal point after the nine?

[Andalusian girls]

how much profit should i take sath

[Andalusian girls]

all the profit

or

some of the profit

[BerenTebogo]

all the profit

or

some of the profit

some of the profit incrementally until it is all of the profit

[Andalusian girls]

i'm not following

[Andalusian girls]

brb leveraging myself 100:1 in dogecoin

[BerenTebogo]

not joking though i usually pre-set my sell limits as like 15% @ 50% to target, 20% at 75% target, 30% at target, 35% at target +25% in a normal market. Actual bull run it's like target, 1.5x target, 2x target, 5x target lmao.

This means if you get front run on an obvious target by much bigger players you still walk away up money.

[Andalusian girls]

how long till you make enough to snort coke off Riley Reid's tits with this system

[BerenTebogo]

how long till you make enough to snort coke off Riley Reid's tits with this system

The amount I need to pay for that goes down with how long it takes me to make it so really that all depends on what the max age she's at that I'd wanna snort coke off of her tits

[Ksandra]

I don't give investment advice. Do your research and judge your risk.

That being said, they are pivoting to BaaS and away from their arguable strength (marketplace lending). I think it's a risky move by them as that market is fairly saturated. They're banking (heh) on their established goodwill to carry them through the transition. That makes me leery.

Well bummer. I am sad that they seem to want to drop the marketplace lending as that was a really good investment. Do other competitors exist that are good? I really liked that model.