Reminder: People never shut up about crypto gains, never mention the losses

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Submitted by gzz on June 23, 2021 - 4:22pm

Another $3.6 billion crypto scam. The people had only account balances saying they were making tons of money and likely became evangelists for the scam.

They won't spend 1/10 the effort to warn people about it now they've lost it all.

https://zwnews.com/africrypt-cajee-broth...

Submitted by sdrealtor on June 23, 2021 - 4:34pm.

Crypto Baby! Nothing but losses for me! Im down $148.

Submitted by Coronita on June 23, 2021 - 7:49pm.

I'm down 11%....it sucks....

crypto babycrypto baby

Submitted by Escoguy on July 1, 2021 - 7:56pm.

This is so true, I have a friend who was constantly texting me about bitcoin for years. So I finally bought in last fall. Fortunately, the timing was good and the 0.27 bitcoin I bought basically doubled in about a month.

I sold half and kept half.

Yes, traded in and out some but have given up about 7K in paper gains.

My intuition told me to sell the week before Musk started his pot stirring.

Holding for now. It's not even 0.25% of net worth so in some ways like a partial lottery ticket.

Submitted by Coronita on June 23, 2021 - 10:20pm.

instagram and this iGen is hell bent on proving how easy it isnto make quick money and end up eith a "seven figure net worth" without working for it...they literally think all of them can do this by listening to MEME stock traders and social media influencers who white a lot about personal finance but they themselves have sketchy finances.

If i hear the following buzzwords from someone im going to go postal

"side hustle"
"5 figure to 6 figure"
"7 figure net worth"
$5000 in one week

Submitted by The-Shoveler on June 24, 2021 - 6:55am.

LOL the whole idea that a number generated by a computer algorithm and based on no other use or value other than its uniqueness (in which there could be literally millions more computer algorithm based coins with different names started every day) could be worth thousands of dollars is just completely insane to me.

Submitted by svelte on June 24, 2021 - 9:49am.

The-Shoveler wrote:
LOL the whole idea that a number generated by a computer algorithm and based on no other use or value other than its uniqueness (in which there could be literally millions more computer algorithm based coins with different names started every day) could be worth thousands of dollars is just completely insane to me.

Agreed, it boggles my mind also.

On top of that - why does anybody think that governments are going to let untraceable money stand? It's enabling the ransomware craze and you can bet it will enable worse things than that...governments will be left with no choice other than to take action.

Submitted by gzz on June 24, 2021 - 12:52pm.

Esco's post illustrates something important with crypto: 99% of people don't actually own the crypto, they own an account with an "exchange" that claims to own it.

These exchanges are regularly hacked or just giant frauds.

They also I suspect don't have giant amounts of US dollars sitting around ready to redeem. As long as more money comes in than out, they can pay people who want to withdraw money. But if, say, 10% of people want their funds out, they will just say "sorry don't got it."

But in the meanwhile, people log in, see their account value in US dollars that do not actually exist on the exchange, and are happy and keep sending the exchanges more money.

Submitted by gzz on July 19, 2021 - 7:24pm.

Bitcoin down 52% since May, Dogecoin that Elon Musk was pumping on Twitter and SNL down 77%.

Not hearing so much about it anymore?

I like the chances of my COIN puts.

Company has a 30% margin now. If it loses half its revenue and margin goes down to 15% because of fixed costs, that's a 75% decline in profit.

What's a fair PE for a company with a 50% decline in revenue and 75% decline in profit that has rapidly growing competition and may get shut down at anytime and sued out of existence for selling unregistered securities? Well it will be 150 P/E in that case at its current price.

And a 50% decline in revenue is very possible. Trading volume is way down. And whenever I log into paypal I see a "buy crypto" link. Who needs a new account at Coinbase?

Here's some additional detail:

https://twitter.com/eriz35/status/141529...

As far as an entry point, they are about to report a record quarter that includes the April/May frenzy. That could send them up, but they are supposedly under a legal obligation to note that the current quarter revenues are collapsing.

Balancing this, I say go in about half way now, wait a month or two for a better entry point.

BTW coinbase charges $3 + 0.5% of each trade. So for a $600 trade, you pay $6 or 1%. By contrast, stock brokers these day are almost all no commission. One of a million ways crypto is greatly inferior to all the things it supposedly is going to replace.

The bubble was pumped to new highs by people bragging about their gains. Now everyone is down 52-90% in just 10 weeks. The people who bought the dip got creamed.

Crypto produces absolutely nothing of real economic value, but has a gigantic ecosystem of pumpers, scammers, traders, programmers, miners, etc that need to eat. Roughly speaking, there needs to be at least $3 billion a month of cash inflows from new suckers to trend water. It was a lot more than this early in the year, now it is less.

Submitted by carlsbadworker on July 20, 2021 - 8:40am.

Wow. This thread is so one sided.

So let me provide some counter arguments.

1. "the whole idea that a number generated by a computer algorithm and based on no other use or value other than its uniqueness"

The value of cryptocurrency is not based on its uniqueness, but the fact it is a programmable system to communicate ownership and transaction. Correspondingly, There are more than 8,000 monthly active developers working on various cryptocurrency projects, with some 80% of those developers starting in the last two years. These engineers create value by solving problems (payment is a much big problem in developing countries).

2. "Why does anybody think that governments are going to let untraceable money stand?...governments will be left with no choice other than to take action."

Why does anybody think that governments are going to let free speech to be mediated by a few large company like Facebook? Again, if you take a US centric view, maybe there is more to lose than what the government could gain. But Chinese government is already minting cash digitally, in a re-imagination of money that could shake a pillar of American power.

3."These exchanges are regularly hacked or just giant frauds."

These are early days in crypto. Just like when web started, there are lots of "websites" that are hacked or just giant frauds. But it doesn't mean there isn't going to be real business like Amazon emerging from these. The current bitcoin adoption rate has promised that the largest digital coin will hit the one billion user mark nearly two times faster than the internet did.

Regulations will come and so will the use cases.

4. "I like the chances of my COIN puts."

Nobody is investing in Coinbase based on its PE ratio. Even Coinbase itself is not aiming to make money: it aims to make money during crypto bull market and lose money during crypto bear market...so that it could spent money to built up the payment infrastructure for the future, similar to the way Amazon uses investor money to built up the distribution centers.

-----

That all, said, I have no doubt that crypto is in bubble territorial, but bubble is maybe what we need for every technology revolution. In fact, you look at history, every major technology change comes with a financial bubble. Industry revolution -> South Sea Bubble; Railroad -> Railway Mania; Age of Oil/Automobile -> The roaring 20s; Internet -> Dotcom bubble. It is the bubble that provides the financial capital to lay out the infrastructure to allow the next generation of entrepreneurs to take advantage of it.

I do not personally own crypto...other than the free credit from my coinbase account. But I think it is wrong to completely discredit crypto...and there might be good investment opportunities after all the dust has settled.

Submitted by gzz on July 20, 2021 - 12:23pm.

"There are more than 8,000 monthly active developers working on various cryptocurrency projects"

Yep, and it's now a 12 year old tech that has still not actually done anything useful for anyone who isn't a criminal or speculator of some type.

Every "use case" from those 12 years has been heavily funded and showed to be pure hot air. The first one of being used like money is a failure. The second of being used for money transfers (as opposed to purchases) is only used by criminals because it is far slower and more expensive and less secure than other methods.

Meanwhile it has caused gigantic and permanent damage to the environment and facilitated criminal activity of all sorts. Theft, ransomware, international drug smuggling, tax evasion.

"but bubble is maybe what we need for every technology revolution"

Railroads and the Internet are useful to non criminals. I disagree there's any revolution here. Just hype, senseless and knowing destruction of resources, fraud, and greed. Perhaps the best historical comparison is to private banknotes from the 1800s.

Submitted by gzz on July 20, 2021 - 12:31pm.

"Nobody is investing in Coinbase based on its PE ratio."

Yeah, it is a bubble levered to other bubbles, and a platform for trading worthless fake "coins" and "tokens" that are promoted with fraud and are illegal securities.

Maybe it will pop, maybe it won't, but the puts are awfully cheap considering how often and hard crypto has crashed.

Ever after falling by about half since the IPO, COIN has a 50% higher market cap than the Nasdaq, the most successful stock exchange in the world.

I read COIN's annual report and they have a line there about how they get paid by the scammers to give out free tokens as "rewards" for "achievements" that consist of watching promo videos for the scammers' tokens. In other words, the same model of scammy timeshare operators, we pay you to watch our sales presentation.

Submitted by scaredyclassic on July 20, 2021 - 12:46pm.

saw THE FURIES last night, really cool psychological western from 1950, anyway, the main character, a sociopathic land baron, T.C. Jeffords, was issuing "T.C.s" in the film, his own legal tender in the area. in the end, they are his undoing, and they end up in flames.

seemed very timely. unusually psychologically probing flick from the criterion collection, with Barbara stanwyck and walter huston.

Submitted by svelte on November 11, 2022 - 4:46pm.

carlsbadworker wrote:

2. "Why does anybody think that governments are going to let untraceable money stand?...governments will be left with no choice other than to take action."

Why does anybody think that governments are going to let free speech to be mediated by a few large company like Facebook? Again, if you take a US centric view, maybe there is more to lose than what the government could gain. But Chinese government is already minting cash digitally, in a re-imagination of money that could shake a pillar of American power.

Don't follow your analogy but that's OK.

News articles are starting to appear showing the US government can indeed trace crypto to a large degree. So it's not untraceable. I still think it will be regulated somehow but it may take a major crisis of some sort to make that happen.

carlsbadworker wrote:

That all, said, I have no doubt that crypto is in bubble territorial, but bubble is maybe what we need for every technology revolution. In fact, you look at history, every major technology change comes with a financial bubble. Industry revolution -> South Sea Bubble; Railroad -> Railway Mania; Age of Oil/Automobile -> The roaring 20s; Internet -> Dotcom bubble. It is the bubble that provides the financial capital to lay out the infrastructure to allow the next generation of entrepreneurs to take advantage of it.

I do not personally own crypto...other than the free credit from my coinbase account. But I think it is wrong to completely discredit crypto...and there might be good investment opportunities after all the dust has settled.

I do agree with you on the bubble aspect. It's now worth half what it was when you wrote the above.

And we haven't even reached a point where unemployment is high. I would imagine it will go much lower when that happens.

Submitted by carlsbadworker on November 11, 2022 - 6:49pm.

I am down 69%...approaching double digit loss in crypto.

Submitted by svelte on November 17, 2022 - 5:27pm.

Could this possibly be true?

The Bahamas ordered Bankman-Fried (and is that name for real? Seriously?) to transfer all FTX assets to The Bahamas when it filed bankruptcy?

https://www.dailymail.co.uk/news/article...

This thing gets more bizarre every day!

How in the world did he convince some of the biggest institutions in the world to give him millions of dollars? It boggles my mind.

Submitted by XBoxBoy on November 17, 2022 - 6:09pm.

svelte wrote:
How in the world did he convince some of the biggest institutions in the world to give him millions of dollars? It boggles my mind.

I have seen way too many cases of people convincing investors to give them money to build companies that are obviously just scams. The founders pay themselves a fat salary all the while knowing the company will be never work out. It's just amazing how common this is.

Just like we watched netflix shows about Theranos this last year, I bet in another year or two we are watching a documentary about FTX and Bankman-Fried.

Submitted by Coronita on November 18, 2022 - 8:58am.

svelte wrote:
Could this possibly be true?

The Bahamas ordered Bankman-Fried (and is that name for real? Seriously?) to transfer all FTX assets to The Bahamas when it filed bankruptcy?

https://www.dailymail.co.uk/news/article...

This thing gets more bizarre every day!

How in the world did he convince some of the biggest institutions in the world to give him millions of dollars? It boggles my mind.

Greed....

I think when the dust settles, it's pretty clear that what crypto has become is basically get rich ponzi scheme. Whatever original altruist attempt at a digital secure currency for some altruist social benefit has long past the moment people started trying to create their own currency and NFT in the quest to get rich quick.

This shit needs to be regulated so the idiots of the world don't get burned as easily moving forward...

The other part that is really said is if you go to social media like IG and Facebook, etc you have a bunch of unlicensed kiddie trying to push the ill-informed about crypto and trying to get people to buy... In the financial industry, pushing for financial products has to be licensed and regulated to some extent....It's the wild wild west on IG and Facebook, and frankly, IG and Facebook bears some responsibility for letting this sort of ill-advised finance "advice" persist and spread throughout their platform.

They should be heavily fined too.

You know when the biggest least financially savy people start cheerleading about how easy it is to make a lot of money gambling in something...then it's time to get out...It's like the "water-cooler stock market advice by the office receptionist theory"....If the at the office water cooler, everyone's talking about how easy it is to make money in the stock market, even the least financially savy people...it's time to get out.

For me, I'm old school and agree with Warren Buffet on crypto. I won't touch it..Well $100 tops, is what I have on dogecoin and sushiswap, he he.

Submitted by svelte on November 19, 2022 - 8:46am.

Coronita wrote:

Greed....

I think when the dust settles, it's pretty clear that what crypto has become is basically get rich ponzi scheme. Whatever original altruist attempt at a digital secure currency for some altruist social benefit has long past the moment people started trying to create their own currency and NFT in the quest to get rich quick.

This shit needs to be regulated so the idiots of the world don't get burned as easily moving forward...

The other part that is really said is if you go to social media like IG and Facebook, etc you have a bunch of unlicensed kiddie trying to push the ill-informed about crypto and trying to get people to buy... In the financial industry, pushing for financial products has to be licensed and regulated to some extent....It's the wild wild west on IG and Facebook, and frankly, IG and Facebook bears some responsibility for letting this sort of ill-advised finance "advice" persist and spread throughout their platform.

They should be heavily fined too.

You know when the biggest least financially savy people start cheerleading about how easy it is to make a lot of money gambling in something...then it's time to get out...It's like the "water-cooler stock market advice by the office receptionist theory"....If the at the office water cooler, everyone's talking about how easy it is to make money in the stock market, even the least financially savy people...it's time to get out.

For me, I'm old school and agree with Warren Buffet on crypto. I won't touch it..Well $100 tops, is what I have on dogecoin and sushiswap, he he.

Agree with virtually all of that.

Last year I had a few friends come up to me very excited about how they got into crypto - dogecoin, etherium, bitcoin, etc. I told them it was my opinion they should only put in "play money", an amount similar to what they would take to Vegas and not get heavily invested in crypto. I'm even more of that opinion now. :)

And if the kind of wrecklessness witnessed with the companies who invested in FTX is indeed common far beyond FTX and crypto as has been suggested elsewhere in this thread, then the world is going to feel much more pain going forward.

I agree with Jeff Bezos - he recently said people should keep a hefty reserve of cash right now because things are going to tank hard soon.

Submitted by Coronita on November 19, 2022 - 8:27pm.

svelte wrote:
Coronita wrote:

Greed....

I think when the dust settles, it's pretty clear that what crypto has become is basically get rich ponzi scheme. Whatever original altruist attempt at a digital secure currency for some altruist social benefit has long past the moment people started trying to create their own currency and NFT in the quest to get rich quick.

This shit needs to be regulated so the idiots of the world don't get burned as easily moving forward...

The other part that is really said is if you go to social media like IG and Facebook, etc you have a bunch of unlicensed kiddie trying to push the ill-informed about crypto and trying to get people to buy... In the financial industry, pushing for financial products has to be licensed and regulated to some extent....It's the wild wild west on IG and Facebook, and frankly, IG and Facebook bears some responsibility for letting this sort of ill-advised finance "advice" persist and spread throughout their platform.

They should be heavily fined too.

You know when the biggest least financially savy people start cheerleading about how easy it is to make a lot of money gambling in something...then it's time to get out...It's like the "water-cooler stock market advice by the office receptionist theory"....If the at the office water cooler, everyone's talking about how easy it is to make money in the stock market, even the least financially savy people...it's time to get out.

For me, I'm old school and agree with Warren Buffet on crypto. I won't touch it..Well $100 tops, is what I have on dogecoin and sushiswap, he he.

Agree with virtually all of that.

Last year I had a few friends come up to me very excited about how they got into crypto - dogecoin, etherium, bitcoin, etc. I told them it was my opinion they should only put in "play money", an amount similar to what they would take to Vegas and not get heavily invested in crypto. I'm even more of that opinion now. :)

And if the kind of wrecklessness witnessed with the companies who invested in FTX is indeed common far beyond FTX and crypto as has been suggested elsewhere in this thread, then the world is going to feel much more pain going forward.

I agree with Jeff Bezos - he recently said people should keep a hefty reserve of cash right now because things are going to tank hard soon.

Funny you should mention that. I've been laddering CDs. Though money markets these days are looking good too.

Submitted by Coronita on November 19, 2022 - 8:30pm.

https://finance.yahoo.com/m/23a3df73-876...

Ontario teachers pension fund got caught up in this too.

Submitted by The-Shoveler on November 20, 2022 - 3:41pm.

Coronita wrote:

Funny you should mention that. I've been laddering CDs. Though money markets these days are looking good too.

Moved some into short duration treasuries, I think fed will take it to 7% potentially (unless the whole shebang blows). Time will tell.

Submitted by barnaby33 on November 21, 2022 - 3:38pm.

LOL the whole idea that a number generated by a computer algorithm and based on no other use or value other than its uniqueness (in which there could be literally millions more computer algorithm based coins with different names started every day) could be worth thousands of dollars is just completely insane to me.

Sounds a lot like gold to me. Still gold has uses.
Josh

Submitted by plm on November 22, 2022 - 1:19pm.

The-Shoveler wrote:
Coronita wrote:

Funny you should mention that. I've been laddering CDs. Though money markets these days are looking good too.

Moved some into short duration treasuries, I think fed will take it to 7% potentially (unless the whole shebang blows). Time will tell.

Building a 13 week treasury bill ladder to get 4 percent instead of 0.2 in my savings account. Stopped buying stocks, thinking it might be good to build cash in case there is a market crash coming so I don't have to sell stocks at the bottom. Still losing money because inflation is higher but at least not losing as much this way. Bonds are boring but safe. Crypto is exciting but risky so I never bought any.

Submitted by Coronita on November 22, 2022 - 6:55pm.

plm wrote:
The-Shoveler wrote:
Coronita wrote:

Funny you should mention that. I've been laddering CDs. Though money markets these days are looking good too.

Moved some into short duration treasuries, I think fed will take it to 7% potentially (unless the whole shebang blows). Time will tell.

Building a 13 week treasury bill ladder to get 4 percent instead of 0.2 in my savings account. Stopped buying stocks, thinking it might be good to build cash in case there is a market crash coming so I don't have to sell stocks at the bottom. Still losing money because inflation is higher but at least not losing as much this way. Bonds are boring but safe. Crypto is exciting but risky so I never bought any.

These are the CD rates I'm seeing at Schwab.

cd novembercd november

Also the yield for their money market fund SWVXX (not insured) is currently 3.45% and that's pretty liquid (within 1 trading day)...

https://www.schwabassetmanagement.com/pr...

For my emergency cash, I park it in a basket of CDs 1-6 months, and the money market fund.

Submitted by plm on November 22, 2022 - 8:38pm.

CDs and treasury bills seem to pay about the same. My 13 week purchase last week was 4.2 percent. Treasury bill seemed easier since it comes straight out and in from my bank. Treasury bills are state tax free.

I do have some cash in my brokerage account which seems to be only getting 0.3 percent. So SWVXX would be like a mutual fund, you buy/sell and then it doesn't happen until end of the trading day which would be the one day delay? I could probably do a money market there with some of the cash.

Submitted by Coronita on November 23, 2022 - 9:27am.

So PLM, the brokerages have to make money somehow, now that they offer free trading and don't make as much off of the trading, so the they do this with the "float" of your money. So there's a little caveat to each investment choice. Here's my understanding of how it is (at least at Schwab). I stand to be corrected by anyone more knowledgeable though...

1. Money Market: the issue with money market is (1) it isn't insured and (2) it's like a mutual fund with a settlement date. So there's 1 day settlement date.

2. CD's purchased from brokerage. You're not going to earn interest at the CD rate between the time you purchase the CD and the when the CD term starts (the settlement date). You'll be earning interest at the rate for your cash held in your brokerage account (cash sweep option), which is probably <1%.. Read the fine print. Let me show you what I mean.
cdexamplecdexample

In this example here, you can buy this 1 month cd right now that supposedly has a APY/YTM 3.918% / 3.850%... However, the settlement date for the CD isn't until 11/30/2022... What that means is even if you buy the CD today (11/23), you aren't going to be earning 3.918/3.85% until November 30th when the CD is actually purchased. Between now and 11/30, you're money will be earning the brokerage's interest rate for cash held in the account (which is probably less than 1%). The brokerage house holds on to your cash and actually does the purchase on 11/30... This doesn't matter as much if you buy a longer term CD like a 3 month or 6 month, but if you're buying a 1 month CD, having your cash held for 2 weeks almost half of the term of the CD...And in that case, you're better off buying the money market at 3.74% (I mistyped the yield above at 3.47..It's 3.74%..

If you do buy a CD from your brokerage, you want to buy it right before the settlement date, not weeks before. Sometimes, the CDs sell out the day before settlement, so you might need to check 2 days prior.

The other thing to think about wrto the CD, is what happens after it matures. You can elect to have it automatically roll into the specific bank's next term CD, but you won't know what the interest is. If you don't let it auto-roll, then when your CD matures, it will go back into your brokerage account, and then you'll need to buy another CD, with a waiting period until that new CD's settlement date is reached.

Hence, this is how brokerage makes money... You're paying for the convenience of doing this all from your brokerage account. But they are making money while they keep your cash until the CD settles and keeps the cash at the lower rate until the next CD you buy, if any.

3. CD's bought directly from a bank. If you buy a CD directly from a bank, there's usually no waiting/settlement date. Interest starts accruing right away.. But it can be a pain in the ass to move money to a bank and then when the thing matures move it back, especially if you're only doing 1 or 3 month CDs... And there's usually like a 2-3 days wiring transfer delay for money transfers between bank and brokerage.

--------

So, comparing the money market at 3.74% to the 1 month CD at 3.91% offered at schwab for purchase, the money market is probably better because since it just 1 day of settlement when you buy and when you sell the money market. You can get above 4% CD's for longer terms like 3/6/12 months. But the issue is if the Fed keeps raising rates, might not be a good thing to lock into a 6-12 month CD.

I buy both the money market and the 1 and 3 month CDs from Schwab, because I'm paranoid... although it's very unlikely Schwab's money market would collapse and not pay out, I just like to err on the side of caution and not put all my emergency fund into one basket.

------
The other thing I noticed is a slight difference between Schwab and other brokerages like Fidelity and Vanguard.

With Fidelity and Vanguard, you can designate how you want your cash to be held by the brokerage. So for example, you can designate that cash in the account be held in a "cash-sweep" account that is automatically invested into a money market fund. So in my Fidelity whenever I sell something, the proceeds auto-invest in the Fidelity money market FDRXX that currently has a 3.31% yield.
https://fundresearch.fidelity.com/mutual...
Vanguard is similar...

Schwab use to allow you designate your cash-sweep account to default to their SWVXX money market fund. But they no longer allow this. So after you sell an investment it defaults to a cash-sweep account that earns very little interest, I think less than 1%..And you have to explicitly move it into the money market fund...

Again, I think Schwab does this so they can make money on the float, while offering you a higher rate than Vanguard and Fidelity on the money market.

Fidelity allows you to auto-invest your cash into their money market, but their yield is about .50% lower than schwab.

If you move in and out of positions all the time, Schwab is probably not a good option for you because you need to move your settled funds in and out of the money market to get the rate.

If you buy stocks occasionally and sell occasionally, then it's not that much of an effort to do an extra step to move cash into the money market fund....

Pick your poison :)

I will probably move my more frequently trading account to Fidelity.

Submitted by plm on November 23, 2022 - 3:52pm.

I'm good with the treasury direct 13 week tbills ladder. Can get money out each week if I need it and it all can come out in 13 weeks. I'll have to see when it renews there isn't lost time to the next week's auction or it's instant. I do know that the interest is not going to compound. But doing a money market in the brokerage account is definitely something extra I should do.

Submitted by Coronita on November 24, 2022 - 12:22am.

plm wrote:
I'm good with the treasury direct 13 week tbills ladder. Can get money out each week if I need it and it all can come out in 13 weeks. I'll have to see when it renews there isn't lost time to the next week's auction or it's instant. I do know that the interest is not going to compound. But doing a money market in the brokerage account is definitely something extra I should do.

I hate treasury directs login web portal. That thing with the onscreen keyboard that you have to click to type your password is annoying. I know why they did it but still,.it's annoying.

.

Submitted by plm on November 24, 2022 - 11:43am.

Website actually crashed and was down for about a week during the last chance to get the higher ibond rate. Good thing I set up my orders ahead of time. Sort of a retro website like piggington but in a very bad way. But learned how to navigate it. Less people buying bonds due to their website, higher yields for me. So I love their archaic website!

Submitted by plm on November 25, 2022 - 1:35pm.

I can't figure out how SWVXX or I assume any money market fund works. Price is a dollar and doesn't seem to change. So if the price stays the same, then they have to pay the interest with dividends but there isn't any info on that either. I suppose it pays out the interest daily? How did you find the yield? Thanks.

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