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Post Posted: Tue Dec 19, 2017 10:03 pm    Post subject: Bitcoin

Wonderful if you got in early, but people are probably going to get caught out ... http://www.ntnews.com.au/business/bitco ... 1513682941

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Post Posted: Wed Dec 20, 2017 5:54 am    Post subject: Re: Bitcoin

Just started to have a play. It's a crazy world, the Crypto Wild West! Anything could happen from here.

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Post Posted: Wed Dec 20, 2017 2:32 pm    Post subject: Re: Bitcoin

There’s only one thing that will happen from here and that is it’s going to end in tears for many people. If you are lucky enough to ride the wagon for a while and jump out before it gets to the cliff, lucky you. But how is it making money, what use is it. There’s very little places that you can spend it. The only reason it’s kicked off is because of the criminal element of the web/dark web. Now that it’s started to go way it is as people are wanting to jump on and make a buck. But I can not see how these things are going to last, at some point it will crash. What’s going to happen when the first serious speed bump hits, the damand will fall away, and it will be a mass run on getting out.
Once Facebook if advertising a great way to make money, it’s too late.


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Post Posted: Wed Dec 20, 2017 4:31 pm    Post subject: Re: Bitcoin

I was burned in the 1987 crash and learned a lot from it. I also started retailing online very early and was surprised by the prospectus offerings for various public startups before the dotcom bubble popped, it was obvious that many were just hot air, if not a rort.

Today, this crypto thing looks even worse. Along with sky high global share markets pushed up by stimulus, and sky high real estate, you have to wonder if we aren't looking at the bubble of all bubbles.

And another financial oddity, how do the Chinese post their eBay stuff from China to Australia for free (no charge to the buyer) when their items are already priced so low?

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Post Posted: Wed Dec 20, 2017 5:59 pm    Post subject: Re: Bitcoin

There's huge percentages to be made. Who cares about the tech side. Get in, make your money and get out. People have made crazy money already.
Also don't put in what you can't afford to lose. The greedy ones will get burnt.

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Post Posted: Wed Dec 20, 2017 8:09 pm    Post subject: Re: Bitcoin

I reckon the huge percentages have already been made. But if I were always right on these things, I'd be wealthy :D

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Post Posted: Thu Dec 21, 2017 9:22 am    Post subject: Re: Bitcoin

Matt Flynn wrote:
I reckon the huge percentages have already been made. But if I were always right on these things, I'd be wealthy :D


Maybe on the larger coins but the smaller ones are where you can get some good rises if you play it right. People seem too focused on Bitcoin. A 100% rise on a $0.02 coin is doubling your money, bit better return than a 5% increase on your 0.05 of a bitcoin.
But as with most things, be prepared for the unexpected. Don't over commit.

Take this comment with a grain of salt - I'm still at work, not early retired spending my days fishing.


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Post Posted: Thu Dec 21, 2017 9:50 am    Post subject: Re: Bitcoin

Quote:
A 100% rise on a $0.02 coin is doubling your money, bit better return than a 5% increase on your 0.05 of a bitcoin.


This was the method I used in 1986 with mining stocks, buying the penny miners who had a tin shed in the desert and some small chance of discovering gold or whatever. I was making good money, and took a loan to make more, and in 1987 it all crashed, the small companies just disappeared.

And before the crash everyone was saying how this time it was different, there was no bubble, there would be only riches ...

There were a very few screaming bubble though, and they were often insulted for their "negativity" :D

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Post Posted: Sat Dec 23, 2017 4:25 pm    Post subject: Re: Bitcoin

Kaboom ... http://www.news.com.au/finance/money/in ... dc7659bfa1

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Post Posted: Sat Dec 23, 2017 5:31 pm    Post subject: Re: Bitcoin

Geez - who would have thought that this was going to happen? i had a couple of Million just sitting around in stocks and i was just about to throw it at bitcoin. :lol:


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Post Posted: Sun Dec 24, 2017 10:28 am    Post subject: Re: Bitcoin

Matt Flynn wrote:


Spoke too soon mate. My investments crashed big time. Yesterday morning I was back to even money. :cry:

Woke up this morning and I was up 70%! 8) As I said, it's a wild ride. Strap yourself in and hold on!

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Post Posted: Sun Dec 24, 2017 3:49 pm    Post subject: Re: Bitcoin

I hope you make a killing scottmac. The fact I am sceptical about cryptos is probably bullish for the concept :D

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Post Posted: Mon Dec 25, 2017 12:03 pm    Post subject: Re: Bitcoin

Matt Flynn wrote:
I hope you make a killing scottmac. The fact I am sceptical about cryptos is probably bullish for the concept :D


Haha! Only playing with small money atm mate. I’m like you, if I invest heavily, it will all turn to poop!

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Post Posted: Fri Jan 19, 2018 1:52 pm    Post subject: Re: Bitcoin

Kaboom again? ... http://www.news.com.au/finance/money/in ... f5cac5edd6

The fact they are making more digital currencies means their value would likely go down.

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Post Posted: Fri Jan 19, 2018 5:19 pm    Post subject: Re: Bitcoin

Big sell off in crypto and other digital currencies the past few days... had a punt not too long ago, and definitely felt the impact. Would much prefer to stick to the stock market as at least there is some way of valuing the shares.

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