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re: What to do with cash right now?
Posted on 5/17/21 at 9:02 am to TigerTatorTots
Posted on 5/17/21 at 9:02 am to TigerTatorTots
What does the counter party do with the deposits?
1
Posted on 5/17/21 at 11:13 am to wutangfinancial
Lends them out
Posted on 5/17/21 at 11:51 am to TigerTatorTots
Do they not have some way to track flows indirectly? Are they lending them to leveraged traders? Who's on the long side of that transaction?
Posted on 5/17/21 at 12:00 pm to wutangfinancial
The loans require collateral - the borrower can choose 25%, 33% or 50% LTV (loan to value).
Posted on 5/17/21 at 12:01 pm to TigerTatorTots
Have any idea who the counterparty would be? Is there a massive hedge fund world for crypto where they would be using leverage?
Posted on 5/17/21 at 12:13 pm to wutangfinancial
Unsure who would be the majority but I know there are thousands of regular joes like Rocket31 who have borrowed against his crypto holdings for USD. Granted, it would take many individuals to equal a single hedge fund. Yes, institutions are utilizing these services to borrow as well.
Posted on 5/17/21 at 1:00 pm to NAsh-vegas Tigah
Buy SQQQ
Posted on 5/17/21 at 1:37 pm to makersmark1
quote:
I manage my Mother’s account.
I keep 5 years worth of her expenses in cash.
You are screwing your mother. And yourself if you are inheriting what she has.
Posted on 5/17/21 at 1:47 pm to NAsh-vegas Tigah
Buy 2x4's
Posted on 5/19/21 at 11:03 am to Strannix
I'm looking into putting half of my 6 month emergency fund onto Celsius in US dollar coin in order to earn the current 10% interest rate. Currently have a few hundred worth of bitcoin I sent there as a test. They're paying the interest weekly.
Not too worried about them not being FDIC insured or getting hacked because they are a London Company insured by London insurers.
They do lend money to hedge funds, and if they default people could lose out. Their CEO Alex Mashinsky bragged in the past that none of their hedge fund borrowers defaulted when the market tanked in early 2020. So that shows it's a realistic possibility. I'll just monitor and if there's a big dip I'd cashout ASAP.
Only thing holding me back right now is figuring out the fees. I know they charge about 1% to buy USDC. I'm wondering if anyone has experience cashing out? They say they don't charge you to withdrawal. But once it gets to your exchange like Coinbase or Coinbase pro, what are the fees to turn USDC into cash?
Not too worried about them not being FDIC insured or getting hacked because they are a London Company insured by London insurers.
They do lend money to hedge funds, and if they default people could lose out. Their CEO Alex Mashinsky bragged in the past that none of their hedge fund borrowers defaulted when the market tanked in early 2020. So that shows it's a realistic possibility. I'll just monitor and if there's a big dip I'd cashout ASAP.
Only thing holding me back right now is figuring out the fees. I know they charge about 1% to buy USDC. I'm wondering if anyone has experience cashing out? They say they don't charge you to withdrawal. But once it gets to your exchange like Coinbase or Coinbase pro, what are the fees to turn USDC into cash?
Posted on 5/25/21 at 3:58 pm to Suntiger
Voyager Digital Reports Record Revenues of US$60 Million with a 50% Operating Margin Generating an Operating Profit of $30 Million for the Fiscal Third Quarter
4:05pm ET 5/25/2021 PR Newswire
CSE: VYGROTCQB: VYGVFBorse Frankfurt: UCD2
Company Continues to Experience Accelerated Growth in April and May -
Verified Users Currently Exceed 1.6 Million -
Voyager Digital Ltd. ("Voyager" or the "Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), today announced financial results for its third quarter of fiscal 2021, which ended March 31, 2021.
Voyager reported another record quarter, with momentum continuing in the fiscal fourth quarter to date.
-- Total revenue in the fiscal 2021 third quarter increased to US$60.4 million, up over 16x from US$3.6 million in the fiscal 2021 second quarter.
-- Operating profit of US$30 million for the fiscal third quarter, with an operating margin of 50% - the Company's first ever quarter of operating profit.
-- The Company ended the fiscal 2021 third quarter with adjusted working capital of US$197 million.
-- US$5 billion of principal volume traded for the fiscal 2021 third quarter, compared to US$350 million of principal value traded in the fiscal second quarter.
-- May new funded accounts already have well exceeded the entire month of April, exceeding 1.6 million verified accounts as of today
In other words Voyager has blasted off and is headed to the moon.
4:05pm ET 5/25/2021 PR Newswire
CSE: VYGROTCQB: VYGVFBorse Frankfurt: UCD2
Company Continues to Experience Accelerated Growth in April and May -
Verified Users Currently Exceed 1.6 Million -
Voyager Digital Ltd. ("Voyager" or the "Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), today announced financial results for its third quarter of fiscal 2021, which ended March 31, 2021.
Voyager reported another record quarter, with momentum continuing in the fiscal fourth quarter to date.
-- Total revenue in the fiscal 2021 third quarter increased to US$60.4 million, up over 16x from US$3.6 million in the fiscal 2021 second quarter.
-- Operating profit of US$30 million for the fiscal third quarter, with an operating margin of 50% - the Company's first ever quarter of operating profit.
-- The Company ended the fiscal 2021 third quarter with adjusted working capital of US$197 million.
-- US$5 billion of principal volume traded for the fiscal 2021 third quarter, compared to US$350 million of principal value traded in the fiscal second quarter.
-- May new funded accounts already have well exceeded the entire month of April, exceeding 1.6 million verified accounts as of today
In other words Voyager has blasted off and is headed to the moon.
This post was edited on 5/25/21 at 4:00 pm
Posted on 5/25/21 at 4:35 pm to MrLSU
Music to my ears! Play it again, Sam.
Posted on 5/26/21 at 4:28 pm to Sterling Archer
So what should I put her near term money in?
Stocks?
Bonds?
CDs?
Stocks?
Bonds?
CDs?
Posted on 5/26/21 at 6:36 pm to NAsh-vegas Tigah
I’d say do the opposite of what everyone says. Smart money dum money say you can’t be in cash at the moment.
I’d be in cash and wait for the next opportunity that convicts your beliefs to put money into it.
I’d be in cash and wait for the next opportunity that convicts your beliefs to put money into it.
Posted on 5/26/21 at 6:39 pm to CorkRockingham
Hard assets .....
Posted on 5/27/21 at 7:12 am to Sterling Archer
I have her in about 70% equities at almost 80 years old.
I doubt many people her age are that heavy in equities.
The cash portion was in CDs, but rates are so low now that it’s not worth tying up for years to get a pittance.
I’ve got her in a preferred ETF and some BDCs, but those have market risk.
She is healthy so her chances of making 90 are reasonable.
At the end of the day, she is just looking mostly at “capital preservation” and having cash to spend if she wants to go somewhere, make a gift, or buy something.
How much more equity exposure would you do for her?
I doubt many people her age are that heavy in equities.
The cash portion was in CDs, but rates are so low now that it’s not worth tying up for years to get a pittance.
I’ve got her in a preferred ETF and some BDCs, but those have market risk.
She is healthy so her chances of making 90 are reasonable.
At the end of the day, she is just looking mostly at “capital preservation” and having cash to spend if she wants to go somewhere, make a gift, or buy something.
How much more equity exposure would you do for her?
Posted on 5/27/21 at 7:48 am to CorkRockingham
quote:
I’d be in cash and wait for the next opportunity that convicts your beliefs to put money into it.
This is what I am doing. I am up to $87k in cash and just waiting for when I am comfortable putting it into something. I max out my 401k, Roth, and HSA every year so I have plenty invested into the market right now and can wait for an opportunity.
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