Crypto Crashes

[Neeranam]

11 hours ago, Adumbration said:

The failure of my banks to maintain their OTP systems and refusal to send me a token to Thailand, almost resulted in a nervous breakdown for me several months back.  If you read my previous post history you will get the full story.  The problems I outlined in my posts have still yet to be fixed, but I stepped away from them and focussed on simple quality of life here to bolster my physical and mental well being.

 

My grandmother used to send me cheques for my birthday. I couldn't cash them as the banks would charge more for the operation. 

My mother used to send cash by post, hidden in comics for my kids. 

Now, my mother sends bitcoin to my Crypto.com account, and I can buy things for my family, getting 3% back in CRO. It is so easy these days. I got my crypto card about 3/4 years ago when the price of CRO was 3c. Now it is 19c, and all the CRO I have accumulated is getting 20% interest pa. 

There are many other benefits of this card, they pay my Spotify and NEtflix, and I get free first class airport lounges.

 

One secure unbanking option is Celsius  - https://celsius.network/

Personally, I stopped using this as I bought Solana and get 100% staking it paired to USDC(a stablecoin) on the Raydium exchange. https://raydium.io/farms/

 

The best Dex(decentralized exchange) however, IMHO is the Maiar exchange - https://maiar.exchange/

 

I am with you on the banks being crooks. 

 

It's quite comical that my 80 yo mother has made healthy profits buying BTC yet some 60s guys here can't figure it out. 

 

 

[BritManToo]

3 minutes ago, Neeranam said:

It's quite comical that my 80 yo mother has made healthy profits buying BTC yet some 60s guys here can't figure it out. 

if crypto is making you so much money, why are you always asking advice on how to get a loan?

 

That's what I find comical!

Edited May 16, 2022 by BritManToo

[Neeranam]

5 minutes ago, BritManToo said:

if crypto is making you so much money, why are you always asking advice on how to get a loan?

 

That's what I find comical!

I maybe have asked once.

 

I want to buy a second house in Hua Hin. Obviously I don't want to use my prime crypto assets when I am getting 12-100% apr on them. 

 

I'm looking at getting a mortgage at 2.99 %. Obviously, I want to borrow as much as I can, it's not rocket science. 

 

 

[Neeranam]

My mother was rather reluctant to buy BTC but when we had to cancel our flights due to corona virus, she wanted to give money to her grandkids. It did take me about an hour to get her set up but well worth it. She bought BTC on Binance for 4,000 GBP just 2 years ago, now it has CRASHED to 24,000. 

It's funny how the many irrational crypto haters here are selective in quoting their data, ie BTC has crashed from it's all time high of $68k. 

[bendejo]

29 minutes ago, Walker88 said:

all it is is air, or the Greater Fool.

 

[david555]

15 hours ago, Hummin said:

Trow away my  fire approved Franz Jager safe 122 Kg + assets ? ???? 

You can put your virtual coins on USB stick inside ????

[david555]

14 hours ago, JeffersLos said:

Gold melts at over 1000 degrees Celsius.

 

 

Buy the furnace with bitcoin? 

Gold melts .....but does not evaporize  .....some "coins " evaporize even whitout any heat needed ......????

 

 

[Adumbration]

39 minutes ago, Neeranam said:

My grandmother used to send me cheques for my birthday. I couldn't cash them as the banks would charge more for the operation. 

My mother used to send cash by post, hidden in comics for my kids. 

Now, my mother sends bitcoin to my Crypto.com account, and I can buy things for my family, getting 3% back in CRO. It is so easy these days. I got my crypto card about 3/4 years ago when the price of CRO was 3c. Now it is 19c, and all the CRO I have accumulated is getting 20% interest pa. 

There are many other benefits of this card, they pay my Spotify and NEtflix, and I get free first class airport lounges.

 

One secure unbanking option is Celsius  - https://celsius.network/

Personally, I stopped using this as I bought Solana and get 100% staking it paired to USDC(a stablecoin) on the Raydium exchange. https://raydium.io/farms/

 

The best Dex(decentralized exchange) however, IMHO is the Maiar exchange - https://maiar.exchange/

 

I am with you on the banks being crooks. 

 

It's quite comical that my 80 yo mother has made healthy profits buying BTC yet some 60s guys here can't figure it out. 

 

 

Thanks for you valuable input.  I will PM you frequently as I move forward with my plan to unbank (if that is ok!) Back in the real world I had a consultancy that focussed upon risk management.  I am therefore immune to the pifle the doom and gloomers are posting here about crypto risk.  There are strategies to manage investment risks regardless of the underlying asset.

 

It is great that you mum is still around.  I have no family whatsoever I can rely upon back in my home country.  That is why, when my banks screwed me around, it was a genuine crisis.

[worgeordie]

16 hours ago, Neeranam said:

I'd love to know grand paps history, he has an irrational hate of those in crypto. 

Quite sad really. 

How is your Mother in law taking the crash,you must be popular

after you advised her to buy......

regards Worgeordie

[Gecko123]

Here's something else I don't get...

 

I keep hearing about DYOR, and being dismissed as someone who "hasn't done his research."

 

What research is there to do? There aren't any fundamentals to research. No earnings, no P/E ratios, no ROE, etc. All I ever see are guys obsessing over technical charts, plotting support and resistance levels, speculating about future valuations. I only see scant attention being paid to the main factors which could seriously cause the price to swing wildly: regulation, interest rates, inflation, economic downturns. I'm curious to know what research people claim to be doing besides hanging out on crypto investment forums and watching U-tube videos. Are you seriously trying to tell me that some guy in Mukdahan fiddling around on an Oppo smart phone knew the risks he was taking putting his money in an algorithmic stablecoin?

 

[JeffersLos]

2 hours ago, FritsSikkink said:

The land is owned by my wife, so my kids won't lose it, so it will never be a 100% loss.

Thai land ownership has never been lost without the foreign sponsor knowing, of course. ????

[BritManToo]

40 minutes ago, Neeranam said:

I maybe have asked once.

 

I want to buy a second house in Hua Hin. Obviously I don't want to use my prime crypto assets when I am getting 12-100% apr on them. 

 

I'm looking at getting a mortgage at 2.99 %. Obviously, I want to borrow as much as I can, it's not rocket science. 

 

 

I've always found most of the people using this investment policy crash and burn.

Borrowing to invest is an idea many people try, and most fail.

I'd prefer to buy lottery tickets ....... if I were desperate for money.

[Neeranam]

14 minutes ago, worgeordie said:

How is your Mother in law taking the crash,you must be popular

after you advised her to buy......

regards Worgeordie

She bought around 30k.  She's a country Thai lady who wanted to do something to help her grandkids. She's not looking to make a quick profit like some of you guys seem to want in crypto. She has 10 rai of land in Lopburi and 0.5 BTC. The land will increase but not as much as the BTC, which increases on average at 100% per year. 

[Neeranam]

8 minutes ago, BritManToo said:

I've always found most of the people using this investment policy crash and burn.

Borrowing to invest is an idea many people try, and most fail.

I'd prefer to buy lottery tickets ....... if I were desperate for money.

You've no idea what you are talking about. 

 

If you had prime land in Knightsbridge or Manhattan, would you sell it to buy something or borrow against it? 

[worgeordie]

4 minutes ago, Neeranam said:

She bought around 30k.  She's a country Thai lady who wanted to do something to help her grandkids. She's not looking to make a quick profit like some of you guys seem to want in crypto. She has 10 rai of land in Lopburi and 0.5 BTC. The land will increase but not as much as the BTC, which increases on average at 100% per year. 

Have you told her value in Crypto has dropped ? , 

regards Worgeordie

[Neeranam]

21 minutes ago, Adumbration said:

Thanks for you valuable input.  I will PM you frequently as I move forward with my plan to unbank (if that is ok!) Back in the real world I had a consultancy that focussed upon risk management.  I am therefore immune to the pifle the doom and gloomers are posting here about crypto risk.  There are strategies to manage investment risks regardless of the underlying asset.

 

It is great that you mum is still around.  I have no family whatsoever I can rely upon back in my home country.  That is why, when my banks screwed me around, it was a genuine crisis.

I understand, I am lucky to have family back home. Actually my grandmother just died a few years ago, aged 99. 

 

Ignore the doom an gloomers, I have most of them. They are bitter old men that missed the boat and don't like others to have success. 

 

Getting 10% on a stable coin rather than having it in a brick n mortar bank is a no brainer. As you say, there are many ways to protect your other assets getting higher rates of return. Never put all into one dex. 

 

Please PM if I can help answer any questions regarding Celsius, Maiar/EGLD, or Raydium/Solana.

 

I'm here to try to help others get freedom from banks. 

[Neeranam]

3 minutes ago, worgeordie said:

Have you told her value in Crypto has dropped ? , 

regards Worgeordie

What the **** are you on about, her investment is up. 

[Neeranam]

Unbelievable what the Luddites hang on to to somehow prove to themselves that they were right not to buy BTC or other cryptos. 

 

 

[ThailandRyan]

1 minute ago, Neeranam said:

Unbelievable what the Luddites hang on to to somehow prove to themselves that they were right not to buy BTC or other cryptos. 

 

 

The same sentiment was discussed last year if you remember. The big issue they see is Luna and they equate the collapse of crypto to the same way of thinking. Did you read the article I pm'd you.

[Neeranam]

Just now, ThailandRyan said:

The same sentiment was discussed last year if you remember. The big issue they see is Luna and they equate the collapse of crypto to the same way of thinking. Did you read the article I pm'd you.

Not yet, but thanks ???? 

[Neeranam]

Just now, ThailandRyan said:

The same sentiment was discussed last year if you remember. The big issue they see is Luna and they equate the collapse of crypto to the same way of thinking. Did you read the article I pm'd you.

Check the thread I started about Tesla crashing. 

[ThailandRyan]

Cathy Wood is still in 100% BTW.

[Neeranam]

2 minutes ago, Neeranam said:

Check the thread I started about Tesla crashing. 

This thread is a stupid as that one. 

[Neeranam]

4 minutes ago, ThailandRyan said:

Cathy Wood is still in 100% BTW.

So are many fund managers, banks, countries lol. 

 

The haters are flogging a dead horse.

 

I doubt that any of the haters actually believes BTC(for example) will be less in 2 years than it is now. If they do, they are deluded, blinkered or downright stubborn. 

[ThailandRyan]

3 minutes ago, Neeranam said:

So are many fund managers, banks, countries lol. 

 

The haters are flogging a dead horse.

 

I doubt that any of the haters actually believes BTC(for example) will be less in 2 years than it is now. If they do, they are deluded, blinkered or downright stubborn. 

Just bought back in on Amp. It was at .07 when I sold awhile back, now at .01 let's see where it goes today.  

[BritManToo]

39 minutes ago, Neeranam said:

You've no idea what you are talking about. 

If you had prime land in Knightsbridge or Manhattan, would you sell it to buy something or borrow against it? 

I would sell it, I'm not big on owning land,

Too hard to dispose of quickly, to easy for the woman you're living with to take it off you.

If I had excess money, I'd buy a bunker in the woods and fill it with shelf stable food and ammo. If I were really really wealthy, I'd buy a sailing yacht and  fill that with shelf stable foods and ammo.

Edited May 16, 2022 by BritManToo

[Neeranam]

5 minutes ago, ThailandRyan said:

Just bought back in on Amp. It was at .07 when I sold awhile back, now at .01 let's see where it goes today.  

I bought Solana yesterday at $47.5. It's a steal at this price. 

 

Also, staking it, paired with USDC, for 104% pa.

 

EGLD is another great bargain. 

[Neeranam]

1 minute ago, BritManToo said:

I would sell it, I'm not big on owning land,

Too hard to dispose of quickly, to easy for the woman you're living with to take it off you.

With your past record, not a bad move. 

However, wise investors keep the best assets and borrow against them. 

[FritsSikkink]

2 hours ago, JeffersLos said:

Thai land ownership has never been lost without the foreign sponsor knowing, of course. ????

You are getting pathetic now, my wife has 3 businesses doesn't need a sponsor.

[FritsSikkink]

4 hours ago, Neeranam said:

I told my brother, who owns an art gallery in the UK, to buy NFTs when the pandemic started. He never listened and now obviously regrets it. 

To make money in emerging markets you must be early in. This takes a lot of research and time and I understand why older people like him getting ready for retirement can be bothered and would prefer to have their fiat decrease at 20% pa. 

So how many million usd are you worth now?