Unbank Yourself.

[Poet]

22 hours ago, covidiot said:

Millions? Really? You're worth that much?

Millions sound like a lot but it really isn't anymore. Any intelligent person who has been through the fairly typical progression of jobs, buying property, maybe running their own businesses, investing in the traditional stock market, or picking up a few good domains etc over a decade or two should have at a least a million or two in total assets.

A good example is that, if you were old enough to be aware of the iPhone in 2009 but, instead of buying yourself an iPhone 3G, you had invested that £299 into Apple shares, you would now have £21k. You didn't have to be a genius to realize that the iPhone was going to be important. The same goes for most smart investments over the years.

No one with just a few million feels rich. They feel pressure to make sure it is intelligently deployed so that they will have enough to get through the economic turmoil that is going to characterize this post-Covid decade. The world order, as we knew it, will utterly change over the next few years and life is going to be a lot more expensive.
 

22 hours ago, Neeranam said:

Early investors in crypto indeed have millions. I think this is why many who missed the boat, and subsequent train and plane are so anti it. 

I believe this is the wrong way to think about it. Bitcoin has been around for over 12 years but its most spectacular growth has been relatively recent. We are all still "early investors". Anyone who followed my advice on this forum during the crash last year, and put 1% of their portfolio into Bitcoin has now seen that grow to become 10% of their portfolio. By this time next year, that same investment will be 80% of their portfolio.
 

The guys who are bitter because they were aware of Bitcoin when it was just a few dollars and, now, cannot bring themselves to pay more than that, they are thinking emotionally, not rationally. This whole story is only just beginning. The current wild money-printing in the US is creating exactly the sort of economic car crash that crypto was designed for.

2021 is the year that people will look back to as having been the ideal time to jump onboard. The pandemic is a unique situation, the leftward lurch after the Trump presidency is a unique situation, the shift away from the dollar as the world's reserve currency is a unique situation. At just a trillion dollars, Bitcoin is tiny. It is about to get big.
 

On 5/14/2021 at 6:57 AM, covidiot said:

So you're putting all your eggs in one basket? 

Well, yes. I never advise others to do that but, for me, certainly since the pandemic began, it was obvious what was going to happen. No other investment could come anywhere close, not even my own "real" business.

I am, at least, diversified within crytpo. I am about 65% Bitcoin, 15% Ether, 16% Monero, and 4% Pirate Chain. I will shift everything into Monero and Piracy Chain (the privacy coins) if the US does, indeed, start increasing taxes and becoming more authoratarian. That will be a jackpot for me.
 

On 5/14/2021 at 6:57 AM, covidiot said:

And you still make time for poetry?

Plenty of time for poetry after I make enough money to retire early on ????

 

[Neeranam]

7 minutes ago, Poet said:

Well, yes. I never advise others to do that but, for me, certainly since the pandemic began, it was obvious what was going to happen. No other investment could come anywhere close, not even my own "real" business.

I am, at least, diversified within crytpo. I am about 65% Bitcoin, 15% Ether, 16% Monero, and 4% Pirate Chain. I will shift everything into Monero and Piracy Chain (the privacy coins) if the US does, indeed, start increasing taxes and becoming more authoratarian. That will be a jackpot for me.

One could say that I a have all my eggs in one basket. That is true in one way, 95% of my liquid assets in crypto -  but within crypto, I am diversified. 

I have 5% only in Bitcoin and ETH but when I take profits from my other coins I will take half in Thai baht and half in Btc. I don't look at my funds in terms of US$ anymore as $ is a the worthless <deleted>coin, IMO. 

My largest holding by far, Polkadot, I analyze the DOT/BTC chart and more recently the DOT/ETH chart. The currency I want to have in a few months is BTC/ETH. 

I also get 12% on Kraken exchange for my DOT, that interest pays my monthly bills, and kids' education flat/apartment costs, which is pretty damn good interest, keeping my original amount. 

At some time in the near future, I hope to have 50% in stablecoins, and maybe 50% of that in places such as Celcius, gaining 12% interest until I buy a new property. Even property is not a good option but I need somewhere to live. Ideally, I would keep all in crypto for the foreseeable future, ie the next years.

I have many other coins which I hope to get rid of when they x10 - x 100. This will mean I have only BTC, USDT, ETH. I might buy some Monero again. 

I also have up and coming coins that I got in early, C3, the Cardano Oracle, for one. 

Others include 

OMG

BNB

UNI

LINK

XRP

XLM

SOL

DOGE(a little ???? )

FIL

KSM

SNX

EGLD

COTI( A large amount)

 

 

 

[moogradod]

Does anybody have an idea how a Thai national, having only cash in Thai bank accounts or subsidiaries of foreign banks (such as ICBC) in Thailand in THB may participate in cryptocurreny transactions, buying selling Bitcoins or the mentioned Monero or Pirate Chain currencies ?

 

The transactions need to be secure and quickly executable (I expect but a few minutes to perform a trade - whether buy or sell with initiated transfer to a Thai Baht account or any other conventional currency). Furthermore the assets need to be stored redundantly on own premises after buying, not online in any exchange.

 

Coinbase for example does not allow transactions with Thailand.

[Neeranam]

1 hour ago, moogradod said:

Does anybody have an idea how a Thai national, having only cash in Thai bank accounts or subsidiaries of foreign banks (such as ICBC) in Thailand in THB may participate in cryptocurreny transactions, buying selling Bitcoins or the mentioned Monero or Pirate Chain currencies ?

 

The transactions need to be secure and quickly executable (I expect but a few minutes to perform a trade - whether buy or sell with initiated transfer to a Thai Baht account or any other conventional currency). Furthermore the assets need to be stored redundantly on own premises after buying, not online in any exchange.

 

Coinbase for example does not allow transactions with Thailand.

I use Bitkub, send funds to/ from krungthai bank. 

I also use satang Pro and coins.

 

[Neeranam]

1 hour ago, moogradod said:

Furthermore the assets need to be stored redundantly on own premises after buying, not online in any exchange.

I use a ledger Nano S hardware wallet

[moogradod]

15 minutes ago, Neeranam said:

I use a ledger Nano S hardware wallet

Thanks Neeranam for all your suggestions.

 

Without having it stored on 3 different media (one being in a different location as well) I could not sleep well. This "hardware wallet" you refer to is nothing more than an encrypted USB-stick or am I mistaken ? And the data on it can be duplicated for backup puposes - or can it not ? Only one device may fail - after all its a technical thing and everything technical may fail. In this case the phrase applies "Too big (or should I say "important") to fail".

[covidiot]

5 hours ago, Poet said:

get through the economic turmoil that is going to characterize this post-Covid decade. The world order, as we knew it, will utterly change over the next few years and life is going to be a lot more expensive.

things could go in the opposite direction.

increased automation may drive down prices.

china is already putting out ridiculously cheap electric vehicles. 

 

yeah, if i only had invested in apple stocks, i wouldn't be "stuck in the middle" of clowns to the left of me and jokers to the right. 

 

it doesn't quite work that way. the stock market is essentially gambling. gamblers are like junkies. they don't just go for one fix. even if you make money in one stock, which you inevitably will, it's a never-ending cycle. you will need to reinvest the winnings somewhere else to get another fix. and the dealer (maybe not always, but usually) wins. conversation over. I'm not playing dog-coin or cat-coin anytime soon. 

 

neem, who is that on your new avatar? 

 

 

 

Edited May 15, 2021 by covidiot

[worgeordie]

On 5/13/2021 at 2:16 PM, Liverpool Lou said:

How do you know that they're "very secure"?  

Because they said so.....????

regards worgeordie

[Heng]

Yeah, I've been in crypto for awhile, and still actually keep fiat reserves earning next to nothing, ....that, some insurance instruments, some SET holdings, and my real estate I consider a counter balance to the moderate to b@lls out risks I'm taking with my crypto portfolio.   I'm my mid 40s now so I'm not going to rock the boat too far in either direction.  Spring chickens like the OP can afford to take such risks because time is on their side...  ????      

[GrandPapillon]

23 hours ago, fdsa said:

not only believe — I see how it happens, and if I can see something then, most likely, it exists and is real.

 

It's outside of the scope of this topic and I don't want to get banned because of your provocations again.

if it's an illusion and it feels real, does it mean it really exists for everyone else? ????

 

ok, from your answer, you don't believe we landed on the moon hence why you can't answer without getting into trouble ???? a simple yes or not could have been enough, but your answer said it all really ????

[Poet]

11 hours ago, Neeranam said:

I have many other coins which I hope to get rid of when they x10 - x 100. This will mean I have only BTC, USDT, ETH. I might buy some Monero again. 

I also have up and coming coins that I got in early, C3, the Cardano Oracle, for one. 

Others include 

OMG

BNB

UNI

LINK

XRP

XLM

SOL

DOGE(a little ???? )

FIL

KSM

SNX

EGLD

COTI( A large amount)

That certainly is a highly diversified portfolio. Thank you for sharing your experience.

My previous focus on just Bitcoin and Ether was wrongheaded and, essentially, lazy. Now that I have started to venture beyond that, I am on my steepest learning curve in years. I won't invest in anything until I understand it at a fairly deep level and, so far, privacy coins have been occupying my attention. I have friends who, like you, are getting good interest from Polkadot, but it all seems a bit strange to me. When I have more time I will study it and try to work out what the catch is ????

I would still recommend that any newbies stick to just Bitcoin and Ether because they are straightforward and a relatively safe bet. The most important thing with crypto is to jump in, even if it is just a few dollars, rather than hover over the decision for years and have regrets later in life. Try it and, if you enjoy it, then you can learn more and shift your capital accordingly, as I am doing now with Monero and Pirate Chain.

 

[Poet]

7 hours ago, covidiot said:

things could go in the opposite direction.

increased automation may drive down prices.

china is already putting out ridiculously cheap electric vehicles. 

The phrase "economic turmoil" does not mean just bad things. The agricultural revolution and the industrial revolution both lifted humanity overall but brought tremendous uncertainty and change to individual lives.

You are right that increased automation (including the automation of knowledge work by A.I.) is going to unleash massive value that will benefit humanity overall but, along the way, hundreds of millions will lose their jobs.

It is also true that the manufacturing might of China will keep advancing, making material goods more accessible to billions of humans, but with that will inevitably come the loss of Western dominance and the end of the dollar as the world's reserve currency, a status that has massively subsidized American life over the past century.

That re-alignment of the global economy might be good for humanity as a whole but regular, average IQ citizens in the US, and satellite nations such as the UK, will disproportionately take the hit when the dollar, pound, euro etc are debased. Unlike the elites, they have not been hedging by diversifying into global investments or crypto.

 

Edited May 15, 2021 by Poet

[daveAustin]

On 5/12/2021 at 2:29 PM, BenDeCosta said:

Neeranam, you obviously know what you are talking about and are clearly a very intelligent investor. I'm sure you have made a fortune with crypto, but there are many forums that you can read with posts about people who got wrecked by investing in it. If you're going to promote such a risky investment strategy here, it would be wise to point out the risks associated with it, or even better, give people who are thinking about it some hints and tips. 

 

I appreciate all of your input, just as I appreciate everyone's opinions on this site, but just because you got rich from crypto, doesn't mean that others will have the same experience. Give us some hints and tips, and tell us about how you did it.

Simple, study TA (res/sup, Fib points) and set your stop limits appropriately. No-one has to lose or get 'rekt' if they observe the latter.

 

On 5/13/2021 at 7:52 AM, GrandPapillon said:

ohoh, Telsa no longer accepting Bitcoins on environment concern ????

 

In this strong ESG environment, how long before big banks and corporations start "banning" and "suspending" BLC and bitcoins projects on environmental grounds ????

 

bye bye bitcoins, it was nice to meet you ????

 

Millennials will go ape<deleted> over this, they just lost their "favorite" toy and any hope to be rich, and will have to put up some real work for once in their life instead of speculating ????

 

of course they will blame boomers and GenX for it all ????

He's holding, likely buying in lower. He's not stupid.

 

Banks and big corps are heavily into it, part of the reason it's all mooned this year. It can't be banned by the way.

 

Govs might be able to prohibit trading on exchanges within their borders, but what's the point in stifling the future on something that is far safer than fiat (cash) will ever be. Sure, laptops and exchanges can be hacked, but transactions through blockchain tech cannot be duplicated and are sound. 

 

Stablecoins (used them for years) are a godsend to traders wanting to park funds opposed to having to always hold this or that coin or having to go through Bitcoin to get to a preferred coin. On staking, Binance will pay you a decent percentage (worked out by the hour, there is high demand) and are as legit as any bank today.

 

Once BTC gets to a certain point - typically 500k - there'll be no more ropiness as people won't be selling wholesale... more transferring bits here and there when they need to buy something.

 

Folk screaming scam, ponzi etc are simply not with it. Many of these cryptos have real world usage, such as Vechain with its products tracking algos. While moving monies with them is light years faster and cheaper than any bank. And, yes, naysayers are typically those who have missed out and usually of the boomer kind -- sorry guys but the world has really moved on from your mismanagement and pillaging of the coffers.

 

But yes, wrong forum to be discussing this; sounds like the pub forum. I'll get my coat. ????

[GrandPapillon]

the issue I have with this "coin" instrument is the trading venues, full of market manipulation and "fake" trades to pump the prices, and all the criminal activity

 

I have shorted BTC on Futures previously, contract was expensive, each share was like 50,000 USD at the time I did it, because it included 5 bitcoin underlying by default, and the volatility was scary

 

now I prefer to play with NASDAQ futures, even if each contract is about 130,000 USD

 

the SP 500 mini contract is about 250,000 theses days, and the full SP 500 Futures is about 1M USD for each contract ????

Edited May 15, 2021 by GrandPapillon

[covidiot]

1 hour ago, daveAustin said:

But yes, wrong forum to be discussing this;

This thread started as advertising/soliciting. 

If you're all experts and don't need to debate, that's fine. 

But if you solicit on a public forum, expect to come across people that refuse your services or at least try to get you to justify what you're selling. 

 

[covidiot]

1 hour ago, Poet said:

It is also true that the manufacturing might of China will keep advancing

maybe not. if the AI advances, cheap human labor is not longer needed and manufacturing can be done anywhere. 

 

this conversation is going off on too many tangent. i'm out.

i've never been into the stock market. and to me, this stuff is even more risky. but good luck if it works for you. 

 

[daveAustin]

duplicate

Edited May 15, 2021 by daveAustin
duplicate

[daveAustin]

14 hours ago, Neeranam said:

One could say that I a have all my eggs in one basket. That is true in one way, 95% of my liquid assets in crypto -  but within crypto, I am diversified. 

I have 5% only in Bitcoin and ETH but when I take profits from my other coins I will take half in Thai baht and half in Btc. I don't look at my funds in terms of US$ anymore as $ is a the worthless <deleted>coin, IMO. 

My largest holding by far, Polkadot, I analyze the DOT/BTC chart and more recently the DOT/ETH chart. The currency I want to have in a few months is BTC/ETH. 

I also get 12% on Kraken exchange for my DOT, that interest pays my monthly bills, and kids' education flat/apartment costs, which is pretty damn good interest, keeping my original amount. 

At some time in the near future, I hope to have 50% in stablecoins, and maybe 50% of that in places such as Celcius, gaining 12% interest until I buy a new property. Even property is not a good option but I need somewhere to live. Ideally, I would keep all in crypto for the foreseeable future, ie the next years.

I have many other coins which I hope to get rid of when they x10 - x 100. This will mean I have only BTC, USDT, ETH. I might buy some Monero again. 

I also have up and coming coins that I got in early, C3, the Cardano Oracle, for one. 

Others include 

OMG

BNB

UNI

LINK

XRP

XLM

SOL

DOGE(a little ???? )

FIL

KSM

SNX

EGLD

COTI( A large amount)

 

Fair play. BNB done really well but beings it's a binance coin it always would.  aion, ant, band, dash, dot, eos, icx, 1inch, inj, reef, vet also worth a punt.

Should've gone big with doge - everyone pans it, but can't beat a meme + superfast transfers.

 

[daveAustin]

57 minutes ago, covidiot said:

This thread started as advertising/soliciting. 

If you're all experts and don't need to debate, that's fine. 

But if you solicit on a public forum, expect to come across people that refuse your services or at least try to get you to justify what you're selling. 

 

WtheF are you? and who is soliciting? Here two minutes and moving people around. By being the wrong forum, as you are clearly in, I'm alluding to folk not getting to grips with the crypto world and brushing it off thusly. As previous guy, please move along. 

[daveAustin]

2 hours ago, GrandPapillon said:

the issue I have with this "coin" instrument is the trading venues, full of market manipulation and "fake" trades to pump the prices, and all the criminal activity

 

I have shorted BTC on Futures previously, contract was expensive, each share was like 50,000 USD at the time I did it, because it included 5 bitcoin underlying by default, and the volatility was scary

 

now I prefer to play with NASDAQ futures, even if each contract is about 130,000 USD

 

the SP 500 mini contract is about 250,000 theses days, and the full SP 500 Futures is about 1M USD for each contract ????

Yes it can be scary but all markets are manipulated to an extent and they all come with pumps and dumps including stock and frx. Crypto probably more so but that is the thrill of an emerging market.

Exchanges today are better equipped - Binance for example has thousands of employees and billions of dollars going through it daily.

Criminals?: F a doodle doo! That they (one in how many?) might use crypto to do business... they also use cash that you also use don't they? Doesn't mean it's all-pervasive. 

Sound on the fence papillon. Perhaps have a read into the tech behind it, and some of the real world usage like vechain, and ignore criminal stuff.

[covidiot]

47 minutes ago, daveAustin said:

WtheF are you?

don't mind me. i'm just an insignificant speck of dust in the vast, god-less universe. 

 

[simon43]

I get 8% pa interest on my savings account with a French-Lao bank in Laos.  Contrary to old wife's tales, no Lao bank has gone bust in the past 20 years...

 

Oh, I also have some ETH, which is doing OK.

 

Anyone want to buy my 100,000 Pandacoins? ????

Edited May 16, 2021 by simon43

[GrandPapillon]

10 hours ago, daveAustin said:

Yes it can be scary but all markets are manipulated to an extent and they all come with pumps and dumps including stock and frx. Crypto probably more so but that is the thrill of an emerging market.

Exchanges today are better equipped - Binance for example has thousands of employees and billions of dollars going through it daily.

Criminals?: F a doodle doo! That they (one in how many?) might use crypto to do business... they also use cash that you also use don't they? Doesn't mean it's all-pervasive. 

Sound on the fence papillon. Perhaps have a read into the tech behind it, and some of the real world usage like vechain, and ignore criminal stuff.

in a regulated environment, manipulators get caught all the time, check FINRA, CFTC, and the SEC website for litigation, thousands of "fraudsters" are being hammered and caught by the financial regulators every year

 

in the "crypto" world, it's open bar, every petty criminals, Chinese mafia and Dark Net hackers are using those venues to "launder" their money, and to make things worse, with BTC being so high, it's an incentive for an explosion of "ransomwave" in the last few months. Not only it's costing society in terms of environment damages, but it's an incentive for criminals to operate their business.

 

Millenials wanting a better future and a better world are as much as hypocrites as the boomers, you can't support a tech based on "calculation" fantasy, which main purpose is to promote criminal activities, and then expect the world is going to be a better place. That's the irony of the whole thing, and they don't even see it ????

[daveAustin]

11 hours ago, covidiot said:

don't mind me. i'm just an insignificant speck of dust in the vast, god-less universe. 

 

Snappy comeback. Fair play. 

[daveAustin]

Dupe again. What’s going on?

Edited May 16, 2021 by daveAustin

[daveAustin]

1 hour ago, GrandPapillon said:

in a regulated environment, manipulators get caught all the time, check FINRA, CFTC, and the SEC website for litigation, thousands of "fraudsters" are being hammered and caught by the financial regulators every year

 

in the "crypto" world, it's open bar, every petty criminals, Chinese mafia and Dark Net hackers are using those venues to "launder" their money, and to make things worse, with BTC being so high, it's an incentive for an explosion of "ransomwave" in the last few months. Not only it's costing society in terms of environment damages, but it's an incentive for criminals to operate their business.

 

Millenials wanting a better future and a better world are as much as hypocrites as the boomers, you can't support a tech based on "calculation" fantasy, which main purpose is to promote criminal activities, and then expect the world is going to be a better place. That's the irony of the whole thing, and they don't even see it ????

Go on, dip your toe in papi, you know you want to. It’ll make you feel young again... maybe  ????

[mjnaus]

1 hour ago, GrandPapillon said:

and they don't even see it

 

If only everyone else possessed the same deep level of insight you do ????

 

I am sure those gullible clowns at places like the European Investment Bank, VISA and Citigroup would love to hear all about your Dark Net Hackers and Chinese Mafia. It would appear that the simple minds responsible for due diligence at these silly institutions don't poses the mental prowess you do. Perhaps write them a letter (paper of course, nothing digital as that's the devil's spawn!) and gently guide them in the right direction?

[GrandPapillon]

37 minutes ago, mjnaus said:

 

If only everyone else possessed the same deep level of insight you do ????

 

I am sure those gullible clowns at places like the European Investment Bank, VISA and Citigroup would love to hear all about your Dark Net Hackers and Chinese Mafia. It would appear that the simple minds responsible for due diligence at these silly institutions don't poses the mental prowess you do. Perhaps write them a letter (paper of course, nothing digital as that's the devil's spawn!) and gently guide them in the right direction?

you clearly can't believe PR statements by big corporations, I mean you can't be that naive ????

 

oh wait, you buy bitcoins ????

[GrandPapillon]

1 hour ago, daveAustin said:

Go on, dip your toe in papi, you know you want to. It’ll make you feel young again... maybe  ????

I am not old, are you GenY by any chance? ????

[mjnaus]

20 minutes ago, GrandPapillon said:

you clearly can't believe PR statements by big corporations, I mean you can't be that naive ????

 

 

No, of course. You're absolutely right! Believing mainstream media is of course ridiculous. I just don't know what has gotten into me. And the European Investment Bank is obviously in on the scam as are all the financial institutions issuing these obviously fake and deceitful statements; they are all up to no good! And don't even get me started on those crooked Canadians with their crypto ETF's!

 

It might take me a while to develop the deep insight that you clearly have. But I'll get there! 

 

24 minutes ago, GrandPapillon said:

oh wait, you buy bitcoins ????

 

Full disclosure; I have indeed bought (and sold) crypto. Haven't really been into Bitcoin, but did play around with other assets the past few years. Made a pretty insane amount of money as well. That is, until I started reading your well-articulated, deeply insightful thoughts on crypto and how this simply must be a scam. What can I say; you made me see the light! I quickly cashed in all of my "gains", which are all obviously fake since GPU's are not capable of generating money. I am still trying to work out what to make of those extra $$'s in my bank account. Now, since computers can not make money (as it is mathematically impossible) and these $$'s are not real, I wouldn't be surprised if they simply just vaporize at some point. But I guess we will have to wait and see. 

 

????