Crypto predictions, dead or not.

[safreek]

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.

My point exactly the only people who lose are those who can't afford their punt.
If you can't afford to have money tied up for ages you shouldn't do it.
Unfortunately a lot of brokers give as bad information about stock market as crypto genius predictors, bad. Fortunately only one person loses with crypto, stock marketeers ruin businesses and life's.

 

[safreek]

Are we still talking about you flipping bike parts or crypto?

Please show me all these parts I flip, yes I may buy things and sell them down the track. No, I don't take advantage of people to sell stuff but if you think I should sell my monsters for the same price as I got them you are tripping as that same person will sell them down the track for more.
As I said on facebook, vintage is not a necessity but a luxury, you pay for luxury.
Could of made 6 times the money I paid for the first Mr T, could of made 600 profit off the asx but somethings are keepers

 

[stirk]

Block chain is a cool ledger design and will develop further beyond the crypto coin market.

 

[stirk]

@safreek my old car has tripled in value in 12 months. Vintage and hard to get items just keep appreciating

 

[moorey]

could of made 600 profit off the asx but somethings are keepers

Would hope so…..seeing I fixed up a mate to sell it to you really cheap…

 

[The Duckmeister]

.....stock marketeers ruin businesses and life's.

Please complete the sentence. Life is "what", or "what" belonging to life? Or did you mean "lives"?

 

[PINT of Stella. mate!]

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

I get the feeling that trying to argue the nuances of global markets and the dangers of an unregulated, intentionally-disruptive financial sinkhole with you is akin to having a theological discussion with one of those mad fuckers on the street corner with the megaphone and ‘Repent Sinner!’ sandwich boards, so I’m just going to leave things there…

 

[Lazmo]

I’m smelling Amway devotion

 

[safreek]

@safreek my old car has tripled in value in 12 months. Vintage and hard to get items just keep appreciating

Too true, just remember that if you sell it someone may make money on it

 

[safreek]

I get the feeling that trying to argue the nuances of global markets and the dangers of an unregulated, intentionally-disruptive financial sinkhole with you is akin to having a theological discussion with one of those mad fuckers on the street corner with the megaphone and ‘Repent Sinner!’ sandwich boards, so I’m just going to leave things there…

No, not really cobber. You are the one who is critical of crypto, I think that I have made it clear that I use the stock market as well, never hurts to have a punt on new technology though, image our world if people took no chances.
I have to say when I bought afterpay it was a punt, but a pretty obvious winner, that said it was a quick pump and dump as the company is soooo overvalued now it is similar to crypt. Fuck me it doesn't even pay a dividend. Stick with your old ways whilst I have fun with both.

 

[safreek]

I’m smelling Amway devotion

Not even slightly

 

[moorey]

Not even slightly

 

[dirtdad]

even residential housing can take people to bankruptcy if they have no clue about what they're investing in

I feel like a big difference here is that a house doesn't become unusable if I can't find my keys. I just call a locksmith. And my keys aren't held by some random foreign company.
There's more risk in crypto than a particular coin going to zero.

everything always rights itself

No. Some things don't recover. Other shit takes its place. But some shit still goes bust.
Also, if your investment takes 10 years to make back what it lost, and you could have made more in another asset class, you've also lost. It's about opportunity cost. Not just absolute numbers.

I feel like a lot of people, to much money has been invested for it all to collapse completely.

Bullshit. Just because a 'market' has a notional value of X (where X is some large number of dollarydoos) doesn't mean squat. It can go to zero in a blink. And everyone with an interest in it loses the paper value of their holdings.
I can create a company with 1m shares and equity of $1 ($0.000001 per share). If someone buys one of those shares from me for $100, you can argue the company now has a value of $100m. But the thing still only has $1 of equity in it, and I've only made $100 (rounded up) for selling my one share.

It's not magic and fairy dust. You just look at the real money.

I get the appeal of crypto. It's fun, it's a lottery ticket, its essentially unregulated, and it's hugely volatile which is great for speculation.

 

[indica]

I get the appeal of crypto.

Some is useful too...

 

[Alexxx]

I have a few reasons I won't buy crypto.

It's not tied to a physical asset, unlike shares (company assets) and property, it uses quite a bit of power to keep it running (even if some of it is renewable that still means more energy is being produced than what is really needed), it got a whole lot of people who never would have invested (and maybe shouldn't have) to suddenly put their savings into a volatile market, and the articles (as well as some who made money by getting in early) make it sound like everyone not investing in crypto is a chump which isn't very nice.

Honestly I'm not a big fan of any investment that claims big wins for a few without mentioning all those that have lost out. It just seems to promote greed and tell everyone that they need to be getting more returns and becoming millionaires. I see a whole lot of my friends getting upset and frustrated over the gains they missed out on buying back in 2018 when it first made the news headline, but I just think it doesn't matter that much.

What's so bad about spending money on things you enjoy (like bikes) instead of getting worked up because your crypto went down 2% from an Elon tweet.

That's my 2c or 0.00000039 Bitcoin if you prefer.

 

[moorey]

0.0000000000037 now.

 

[Tubbsy]

Has anybody done a reputable comparison of the environmental impact of mining/managing cryptocurrency as compared to equivalent fiat currency or investments?

The environmental criticism seems like a superficial one without some facts, and I suspect it’s impossible to calculate with any accuracy.

 

[Flow-Rider]

I feel like a big difference here is that a house doesn't become unusable if I can't find my keys. I just call a locksmith. And my keys aren't held by some random foreign company.
There's more risk in crypto than a particular coin going to zero.

That's one of the best case scenario's, major termite damage, illegal work done on the house with sinking foundations, it gets burnt down from self wiring of the owner renovator etc.. Only good thing is that they can't steal your land, but it may be worthless as well from other issues. Everything is a risk if you have minimal idea of what you're dealing with.

 

[moorey]

Has anybody done a reputable comparison of the environmental impact of mining/managing cryptocurrency as compared to equivalent fiat currency or investments?

The environmental criticism seems like a superficial one without some facts, and I suspect it’s impossible to calculate with any accuracy.

Bitcoin mining uses like 1/3 of the planets data processing power.
It’s not apples with apples.

 

[Tubbsy]

Bitcoin mining uses like 1/3 of the planets data processing power.
It’s not apples with apples.

That’s a huge statement.