Crypto predictions, dead or not.

Would you buy any crypto

  • Yes

    Votes: 8 30.8%
  • No

    Votes: 12 46.2%
  • Go back to south Australia

    Votes: 6 23.1%

  • Total voters
    26

PINT of Stella. mate!

One Scotch & Joke
It already did that. I know someone that went from $890,000 to $120,000 in the blink of an eye.
That's not a massive crash though. Not in the grand scheme of things and the previous plunges have not been enough to deter folk. One of my colleagues -while initially lamenting the chaos caused by Elon Musk's recent u-turn on Bitcoin quickly thought 'Great, now it's cheap again' and bought up a whole heap not having learned that another big dive is inevitable.
 

dirtdad

Likes Dirt
It already did that. I know someone that went from $890,000 to $120,000 in the blink of an eye.
Presumably that was a paper loss though right? Invest something, it goes up, you don't take your profits, then it goes down. It's not a realised loss like investing 890k, it drops to 120k and you get out.
(If it was, that's one hell of a loss tho.)

Crypto is interesting, but I see buying any like a more interesting lottery ticket at the moment.
 

dirtdad

Likes Dirt
Correct. He would have had to pay a load of tax if he had withdrawn....
Still, paying tax means you've made money...

Funny how Govt doesn't seem to know what to make of crypto generally, but if you make money trading it they want their cut. Presumably you can offset any (realised) crypto losses against other income too though? (IANAA - not an accountant)
 

teK--

Eats Squid
It already did that. I know someone that went from $890,000 to $120,000 in the blink of an eye.
Guessing they held a lot of microcaps, to have lost that much?

Some of the microcaps won't ever recover but the top 10 probably will to some extent.
 

teK--

Eats Squid
Still, paying tax means you've made money...

Funny how Govt doesn't seem to know what to make of crypto generally, but if you make money trading it they want their cut. Presumably you can offset any (realised) crypto losses against other income too though? (IANAA - not an accountant)
Yep the losses can be applied that year or carried forward as a capital loss.
 

safreek

Vealcake
safreek, I hold Bitcoin and Etherium as we as a couple of alts. I see it a a store of value more than anything else. I could put into savings but I think long term the value will increase rather than be slowly eaten by inflation. I have a mortgage too but I think it will beat the interest that I would save.
When it dropped I held as I don't think the market cycle has reached it's top. I have tried avoid the drops before but timing the pump is hard and even when you get it right the exchange might not let you buy back in due to high trading volume. Better to hodl. Short term volatility is normal but it still may take months before it gets back up to your buy in price.

I think block chain tech has a big future. Crypto is just part of that.

Some of you will hate me for it, just hold the same disdain for others. I could have bought a new car, boat, investment property, jet ski...
Yeah mate, agreed. People panic and do silly things, better to hope for a turn around than lose money
 

safreek

Vealcake
without making any judgments on anybody ... I see these 2 lines drive the majority of the market. Gamble and without real knowledge.

Let’s say 80:20 rule. Punters to more knowledgeable pundits ... where Knowledgeable isn’t necessarily related to investments or investment analytics, or investment acumen

Using 80:20 again ... of the above knowledgeable portion ... 80% are more IT focused ... again not investment focused ... prolly a big chunk are criminally motivated. Guessing ... see oil pipeline hackers.

so that leaves approx 5% of the starting population, making money off the 95% ... that’s a pretty good position to be in and likely where all the whales are. How these 5% make decisions I have no idea and I believe nobody knows including the 5%.

Me ... I see Crypto = Tulips
Likely end the same way. there are no fundamentals, it’s all about trend and speed of news
pure gambling IMO.
Totally agree that it's a punt, as my original post is worded as a gamble
 

safreek

Vealcake
OK, it appears that some of you seem to compare crypto to the stock market. I don't of agree, everything always rights itself. Google tells me it took 25 years to recover from the 29 correction ;) but it did.
I feel like a lot of people, to much money has been invested for it all to collapse completely.
Have a friend who has held bitcoin since20 17 and he was panicking, staying up at night recently feeling he was fucked, he wasn't.

A lot if people say there is no income but at the moment I am looking at staking coin, between 2% and 8% return. Try and get that at a bank
 

safreek

Vealcake
But if there’s no turnaround then you lose even more money …
Ten years ago I bought 1000 shares that I really couldn't afford, cost me just over 1000, they dropped 30% so I panicked and sold. Now 50 a share. That's the bad story.
Good story, I bought afterpay shares at 9ish bucks and sold at 80, patience, could of got 130 if I took the ride.
Still the same as shares though, things fail, things fly. I'm playing with share market money. Cop that big business.

On a side note, all you people who told me all my bikes were crap, well, lots of people disagreed and helped finance more crypto through bike sales
 

moorey

I choo choo chose 29
You’re making way more profit off the stuff you’re buying cheap and selling for top dollar on the vintage pages though. Those bars were prolly what you paid for the entire bike.
376573
 

safreek

Vealcake
You’re making way more profit off the stuff you’re buying cheap and selling for top dollar on the vintage pages though. Those bars were prolly what you paid for the entire bike.
View attachment 376573
Nar, 200 or 250. Shit I profit from comes off gumtree. Bars are negotiable. They have been selling for 60 to 80 quid in UK. 80 bucks with the stem is a bargain.
The yeti gave me back my money and I get to keep the wheels and handlebar, big profit
 

PINT of Stella. mate!

One Scotch & Joke
OK, it appears that some of you seem to compare crypto to the stock market. I don't of agree, everything always rights itself. Google tells me it took 25 years to recover from the 29 correction ;) but it did.
Im confused by the wink. Is it there because you’re secretly having a giggle at coming out with such a ludicrous statement?
Surely that must be the case as there’s no way a grown adult with access to Google and a supposed understanding of the stock market can think that the crash of 29 was a big one but everything was back right as rain after a couple of decades.

I mean, it’s not like anything of consequence happened in that time. Oh apart from a worldwide financial depression that in one particular corner of the world provided fertile soil for the rise of a certain aggrieved Austrian artist with a few ideas on how to get Germany back on its feet.

I suppose the subsequent world war was a particularly effective economic stimulus package but I’m not sure if the deaths of 75million people was particularly good value for money.
 

safreek

Vealcake
Always comes back to the nazis for some reason, guess other huge wars never happened before it. Anyway, the stock market drops, the stock market rises, surely even you realize that it always comes back stronger, prove me wrong. Yes, there are real losers in the stock market when it drops, the businesses that go broke have employees that can lose everything. The filthy greedy scum brokers that short out and manipulate the market to make profit at any expense are the reason people are turning to crypto. It is easy to find out if one person is controlling any said coin with huge dumps. Coin can be observed, the thieving scum in the stock market do their dodgy dealings, send people homeless, some suicide and lose families to these faceless parasites.
Only the individual loses on crypto, society loses to the blood suckers.
Again prove me wrong
 

Flow-Rider

Wheel size expert
Any high risk investment is volatile, that's just how it is, even residential housing can take people to bankruptcy if they have no clue about what they're investing in.
 

safreek

Vealcake
Im confused by the wink. Is it there because you’re secretly having a giggle at coming out with such a ludicrous statement?
Surely that must be the case as there’s no way a grown adult with access to Google and a supposed understanding of the stock market can think that the crash of 29 was a big one but everything was back right as rain after a couple of decades.

I mean, it’s not like anything of consequence happened in that time. Oh apart from a worldwide financial depression that in one particular corner of the world provided fertile soil for the rise of a certain aggrieved Austrian artist with a few ideas on how to get Germany back on its feet.

I suppose the subsequent world war was a particularly effective economic stimulus package but I’m not sure if the deaths of 75million people was particularly good value for money.
And sorry, I forgot to mention that maybe dub dub one had more to do with dub dub two than broken stock markets, they were broken people before the parasites had their way financially. I hope that you are not one of the old guard desperately trying to protect your turf from the youngsters and denying the future
 
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