Gone quiet bank reposessed the lambo?

I put in a bit over a grand and ended up with an indo trip out of it.
(paid a grand tax and ended up about four in front)
Left around a grand in there at the height which is now worth no more than $250.
I was lucky and thought of it like win or lose.

There were crew on here/real life that bought half a dozen bitcoin when I started the thread about crypto, bitcoin was $1500 at the time, everyone I spoke too I said sell if it gets to ten get rid of it.... it went up to over twenty grand.

It also needs to be said and more importantly is that people went out and got loans and put themselves in debt to buy crypto at the height...... and it's now down 80-90%...............

I'm actually thinking about putting a grand back in soon (this would leave me up3/4 of an indo trip over two years after starting with a grand)

There were definitely some crew on here that owe me a carton for my shady financial/gambling/reckless advice. (This post does not constitute financial advise, please consult your local accountant psychologist or psychiatrist prior to investing in crypto)

Base numbers at current

height of market 800 billion ( or thereabouts)

current market 150 billion (around 15-18% of height)

Will it still go down,,,,,,, yes most likely ,,,,,, below 100 billion????? Probably not.....

should i invest?????

Can you lose a grand? If yes than spend 750 on a new board and invest/gamble 250

If no than step away from the computer and stop reading.

It will only be three or four that survive , one will be ripple however some may say it's overpriced already, bitcoin will survive but likely will be replaced by a "better" option.
neo I think has half a chance as does ethereum.
there are very few others that have half a chance of making it.

The only hope is to have money on the more stable 4/5 coins or alternatively be a psychopath and divide all of your money up equally between coins that have really really low market caps in the hope that they go crazy. Ie a coin worth $5 million total goes to $30 million and you 6x your money. By following the above psychopath method thus far I have managed to lose at least 750 of the remaining grand in the falling market.

I put a small amount of money in knowing full well the market was full of speculators and blokes betting. This was around 220B MC.

Sold my initial investment and had only gains left to play.

I got got caught up in the hype a bit. Hence why I didn't sell when the market was over 800B.

However, I ended up doing ok.

Ended up with 3 surfboards, a trip to Indo. Renovated bathroom and a credit card paid off and paid my tax bill. Not bad for 4 months.

I have some **** coins in some wallets. They have lost 99.5%. Not worth my breath selling.

The thing I find funny, and represents the realists of phycoloigy of markets, is when bitcoin was 15k -
Everyone wished it was 14k. Now that the market has turned into a bear- no ones interested at 4K.

The phycoloigy of markets and the madness of crowds.

Just saw an old neighbour of mine that spent a fortune on mining rigs and electricity to mine bitcoins. Says he had close to $1M worth at the peak, but didn't sell, and ended up with enough to buy a nice caravan.

Interesting that it's dropped another 40% over the last couple of weeks. Race to the bottom.....how low can it go? Probably to it's intrinsic value....zero.

Still, here's one guy still trying to prop up the price....I'm sure he has no vested interest.
smartereum.com/3295/bitcoin-price-prediction-and-analysis-bitcoin-news-today-oct-10th-2019/

Yeah interesting market for sure. Havnt been active in it since March this year after the hype came out. Was up a cars worth on a 3k stake at one point ( not a lambo though haha) punting on the hype around the ****coins mainly.they were all stupidly overpriced. If i coyld have found a way to short those **** coins not just flip em it probably would have been a lambo.

My mistake was leaving half the profits in the more stable coins like ether and bitcoin when I stopped in March and treated the possies as cash like holding till I wanted to get active again. Mainly cos i didnt want realised capital gains. Mistake in hindsight but I'm pretty comfortable being long at these levels for now.

"Bitcoin tycoons " where are they now"?"

google-->winkveloss twins bitcoin--> news = BORING !

Cryptos now collect Coles minis cause it's the next big thing

I'm down about 30% overall. Got a little too excited in December

It was crazy-town in the markets last year (and still is; Wild West). And then there was the fork, and ICO madness. And now the fork has itself forked again.

Institutional money did not get into the market. It was not mature enough. D'uh.

The technology itself was not ready either, still requiring proven layers on top to facilitate scaling. Lightning is still growing. Baakt will offer up its own second-layer approach using an omni ledger.

Next year might see institutional money, finally ...?
www.cnbc.com/2018/11/28/bitcoin-and-digital-assets-are-here-to-stay-says-nyse-chairman.html
I still can't figure out Microsoft's nor Starbuck's roles in that Bakkt venture. No idea.

All-in-all "crypto" is not going away. No reason to.

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evlPanda said..
I'm down about 30% overall. Got a little too excited in December

It was crazy-town in the markets last year (and still is; Wild West). And then there was the fork, and ICO madness. And now the fork has itself forked again.

Institutional money did not get into the market. It was not mature enough. D'uh.

The technology itself was not ready either, still requiring proven layers on top to facilitate scaling. Lightning is still growing. Baakt will offer up its own second-layer approach using an omni ledger.

Next year might see institutional money, finally ...?
www.cnbc.com/2018/11/28/bitcoin-and-digital-assets-are-here-to-stay-says-nyse-chairman.html
I still can't figure out Microsoft's nor Starbuck's roles in that Bakkt venture. No idea.

All-in-all "crypto" is not going away. No reason to.

I'll wait till it gets down to $1k US and I'll buy a few coins.

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Underoath said.
Sold my initial investment and had only gains left to play.

...
The phycoloigy of markets and the madness of crowds.

Why do you think of your gains differently to your initial investment? You can buy the same amount of stuff with a $1000 of "gains" as you can with $1000 of "initial investment".

It's illogical but most people do this. Weird eh?

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AUS1111 said..

Underoath said.
Sold my initial investment and had only gains left to play.

...
The phycoloigy of markets and the madness of crowds.

Why do you think of your gains differently to your initial investment? You can buy the same amount of stuff with a $1000 of "gains" as you can with $1000 of "initial investment".

It's illogical but most people do this. Weird eh?

It's not illogical if you now need the initial investment to live.

Harrow: I wouldn't speculate in crypto if I needed the money to live.

AUS1111: I want to safeguard my initial balance, considering we are talking about one of the most volition non-tangible asset class ever seen?

How many people have had the HODL mentality (Tax strategy 12+ Months 50% CGT discount) and been felt holding the bag with a 99% loss.

The gains I was playing with also were set with stop losses, which were executed.

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Underoath said..


Ended up with 3 surfboards, a trip to Indo. Renovated bathroom and a credit card paid off and paid my tax bill. Not bad for 4 months.

I wonder if the bathroom reno had to be done long time ago

www.seabreeze.com.au/forums/General-Discussion/Chat/So-I-ate-a-chili?page=1

My advice, sell whats left of your crypto investment and buy in silver.

which were executed.

There is still chance to earn some good money on Bitcoin for those that come late.
One may sell short Bitcoins now , while around 4k and buy when they collapse to near zero.

I "invested" in Bitcoin when it was $12,800AUD.

I had a prophetic dream that my Lambo's oil hadn't been changed in the last 1,000kms.

So I sold at $25,500AUD (True story except for the Lambo)

Doubled my money.

CryptoFools, keep kicking the dead animal

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quikdrawMcgraw said..
Cryptos now collect Coles minis cause it's the next big thing

aka..the new Logan recycling scheme

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emily220 said..
which were executed.

That's crypto talk . By say "executed"; *(?) he simply means what he was explaining - *(?) actually happened.
It sounds impressive when you talk like the terminater, executed.

*(?) Gramma may or may not be correct.

This is the carnage on a 2 year timescale for a handful of the top, so-called, "digital assets".


1 year looks quite different of course. It appears to be gaining popularity/hype/acceptance/adoption/FOMO in waves.

In an attempt to explain any of it there are a few theories combining Gartner Hype Cycles, the well known hype and crash, and the S-Curve Adoption of new technologies. Here's an article covering just that, with some nice illustrations : ) medium.com/@mcasey0827/speculative-bitcoin-adoption-price-theory-2eed48ecf7da

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AUS1111 said..

Underoath said.
Sold my initial investment and had only gains left to play.
...
The phycoloigy of markets and the madness of crowds.

Why do you think of your gains differently to your initial investment? You can buy the same amount of stuff with a $1000 of "gains" as you can with $1000 of "initial investment".

It's illogical but most people do this. Weird eh?

It's the psychology of a gambler....since a gain is not a gain until it's banked or stuffed under the pillow in folding or ingots.

Looks like Bitcoin free fall continue
3.9 last week and 3.3 today

I wonder who here made money on dropping crypto coins not a rising

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Adriano said..

AUS1111 said..

Underoath said.
Sold my initial investment and had only gains left to play.
...
The phycoloigy of markets and the madness of crowds.

Why do you think of your gains differently to your initial investment? You can buy the same amount of stuff with a $1000 of "gains" as you can with $1000 of "initial investment".

It's illogical but most people do this. Weird eh?

It's the psychology of a gambler....since a gain is not a gain until it's banked or stuffed under the pillow in folding or ingots.

And then you're "gambling" with cash, or gold.

It's all relative. Nothing is fixed or static.

The best 500 buck 5 year bet you could place in your life is on crypto right now.

which one is the right one is the real question.

www.rt.com/business/464013-china-russia-cryptocurrency-dollar-dethrone/

Just as an anecdote, someone was telling me the story recently of a guy that was buying copied usernames and passwords for Spotify and Netflix, and maybe something else. He was reselling this information to people for around $2 a month instead of the usual charges.

He was getting paid in Bitcoin, probably because of the anonymity that it gave him. From the stories I found when I googled his name, he made a fair bit of money, and it was all tied up in Bitcoin.

I wonder if this is why there is value in this currency? Something that holds value but is normally beyond the reach of a local authority who can see that you are accumulating something that you maybe otherwise shouldn't be?

He got caught anyway, hence the news stories, but it does make me wonder what people use it for other than gambling on a price increase.

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japie said..
www.rt.com/business/464013-china-russia-cryptocurrency-dollar-dethrone/

Its hilarious to see Venezuelas name mentioned in relation to this. They are the ones that have screwed up their own currency by mismanaging the local economy and then printing more money to try and save it. Someone should have given them a basic lesson in hyperinflation.

If they used Bitcoin, Rubbles, or any other currency they would be in the same situation. It is not the problem with the USD, its the fact that they can't manipulate it to try a childish game of trying to fix up a broken economy. You could run a country on Monopoly money if you didn't try and artificially screw with its value.

Expect an overall market top near end of year. Get back into bitcoin with a stop limit which should be executed sometime in late 2021. Then stay the Fck out and invest heavily in bank, real estate and any other stocks related. Then short it all in near. 2026.

Your welcome

What about my welcome?

What happens if I short it all near 2026 and nothing happens?

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FormulaNova said..

japie said..
www.rt.com/business/464013-china-russia-cryptocurrency-dollar-dethrone/

Its hilarious to see Venezuelas name mentioned in relation to this. They are the ones that have screwed up their own currency by mismanaging the local economy and then printing more money to try and save it. Someone should have given them a basic lesson in hyperinflation.

If they used Bitcoin, Rubbles, or any other currency they would be in the same situation. It is not the problem with the USD, its the fact that they can't manipulate it to try a childish game of trying to fix up a broken economy. You could run a country on Monopoly money if you didn't try and artificially screw with its value.

Yes hilarious! Or not. Regardless, I did not put it in there.

Whatever one one thinks about Venezuela she is sitting on a massive oil reserve.So whilst oil is a commodity Venezuela will have relevance.

Particularly to the United States who are bending over backwards in attempt to help her right her economy.

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japie said..
Yes hilarious! Or not. Regardless, I did not put it in there.

Whatever one one thinks about Venezuela she is sitting on a massive oil reserve.So whilst oil is a commodity Venezuela will have relevance.

Particularly to the United States who are bending over backwards in attempt to help her right her economy.

I have to disagree with this. The US seemed to have backed off a lot with the discussions on Venezuela when Trump figured out its not an easy win. I guess he was hoping that the government would just walk away and he would look like a hero. They didn't, and he isn't.

I still can't figure out the supposed interest the USA has in Venezuela. Is it to increase the price of oil or to decrease the price of oil? That seems to alternate with each conspiracy story.

The 'petro dollar' that Venezuela was trying to get behind was crazy. A cryptocurrency is not going to make any difference. For some reason Maduro thinks that other countries are trying to destroy his country by stealing their currency.

Really? If you did this in any other country where the currency is free floating, the value would go up. Not in Venezuela, where people supposedly stealing the notes makes the value go down. Someone hook the guy up with a basic Economics course.

They tried to artificially fix the exchange rate. It doesn't work that way unless the government is prepared to back the currency by buying it themselves, and they don't. They don't have any other currency to exchange it for.

This nonsense talk of Petrodollars is like their talk of 'cyber attack' on their power stations. If you are gullible enough to think that they would have their powerstations attached to the internet, for god knows what reason, what makes you think that they have computers powerful enough for this sort of attack? Most computers used in control functions are really basic.

One thing I learned in high school economics was the dangers of being a Banana Republic, where all your income is reliant on a single crop or resource. Sadly something that Australia seems to keep forgetting as it forgets value-add and goes back to shipping dirt. Venezuela got by on selling oil so much that it stopped making stuff and stopped growing its own food in decent volumes. Then oil prices fell, and the poor production rates by mismanagement have taken their toll and they can't produce enough oil to sell.

Yeah, crypto currency is not going to fix that!

Maduros idea of a cryptocurrency is where the government can issue it and somehow other people think it has value.