Crypto Crashes

[lkn]

43 minutes ago, ThailandRyan said:

My coinbase card is very similar but does not pay out the rewards as his does

Worth mentioning though for a Coinbase card backed by crypto, you pay 2-3% in liquidation fee if you have no fiat, and you pay another 2-3% in foreign exchange fees, so using this card in Thailand would probably cost you 5-6%, i.e. definitely not worth it.

 

The Crypto Dot Com card is better with fees, but you have to buy their CRO token and “stake it”, I think the minium amount was 400 EUR worth of CRO tokens, and the CRO token has fallen 80% over the last 6 months, so while you may get nice cashbacks (in CRO tokens), if you got this card 6 months ago, you basically lost 320 EUR… I know that people here of course always bought EGLD, CRO, BTC, etc. 2+ years ago, so of course they lost no money, but with no fundamentals / intrinsic value, and it already gone down 80%, there is no reason it can’t happen again — also, CDC have reduced their cashback percentages from 1st of July or so, because despite all the money they got from selling overvalued CRO tokens, it seems their business model is still not sustainable…

[ThailandRyan]

4 minutes ago, Hummin said:

In a divorce or in cases where you buy land in a thai name, you really do not loose anything, because it was never yours in the first place. 

Think your a little confused, true the land was not in anything but a Thai name but it and the house are considered a marital asset and has value if you wish to pursue it through the court process as far as the divorce goes.  

 

I had my now ex-wife also sign that she had no interest in my Thai banking assets as well as my Crypto Holdings, she in turn got the Merc and Triton.  Think I came out ahead as the Crypto increased and money was withdrawn...win win for me.

[ThailandRyan]

7 minutes ago, lkn said:

Worth mentioning though for a Coinbase card backed by crypto, you pay 2-3% in liquidation fee if you have no fiat, and you pay another 2-3% in foreign exchange fees, so using this card in Thailand would probably cost you 5-6%, i.e. definitely not worth it.

 

The Crypto Dot Com card is better with fees, but you have to buy their CRO token and “stake it”, I think the minium amount was 400 EUR worth of CRO tokens, and the CRO token has fallen 80% over the last 6 months, so while you may get nice cashbacks (in CRO tokens), if you got this card 6 months ago, you basically lost 320 EUR… I know that people here of course always bought EGLD, CRO, BTC, etc. 2+ years ago, so of course they lost no money, but with no fundamentals / intrinsic value, and it already gone down 80%, there is no reason it can’t happen again — also, CDC have reduced their cashback percentages from 1st of July or so, because despite all the money they got from selling overvalued CRO tokens, it seems their business model is still not sustainable…

Ergo, why I do not use the card here. I did while I was back in the US in January and February.  Not worth it here and I know that, but it still can be used just like a Visa card.  Best to use my No Fee cards like my Black card and Gold Amex earn my rewards on each and pay it off monthly as I do. 

Edited May 16, 2022 by ThailandRyan

[Hummin]

23 minutes ago, ThailandRyan said:

Think your a little confused, true the land was not in anything but a Thai name but it and the house are considered a marital asset and has value if you wish to pursue it through the court process as far as the divorce goes.  

 

I had my now ex-wife also sign that she had no interest in my Thai banking assets as well as my Crypto Holdings, she in turn got the Merc and Triton.  Think I came out ahead as the Crypto increased and money was withdrawn...win win for me.

Thats good for you, and seems we agree, and no need for a confused emotion? 
 

Im aware I can lease the land from my gf, and own the house, but for me, I bought her a gold ring, I will not claim it back, or go to court to do so, even the reciept is in my name ????

 

Anyway, I guess it is more to it, since I did not bet all my savings in this relationship. For those who do, I can understand. 

Edited May 16, 2022 by Hummin

[ThailandRyan]

9 minutes ago, lkn said:

Worth mentioning though for a Coinbase card backed by crypto, you pay 2-3% in liquidation fee if you have no fiat, and you pay another 2-3% in foreign exchange fees, so using this card in Thailand would probably cost you 5-6%, i.e. definitely not worth it.

 

The Crypto Dot Com card is better with fees, but you have to buy their CRO token and “stake it”, I think the minium amount was 400 EUR worth of CRO tokens, and the CRO token has fallen 80% over the last 6 months, so while you may get nice cashbacks (in CRO tokens), if you got this card 6 months ago, you basically lost 320 EUR… I know that people here of course always bought EGLD, CRO, BTC, etc. 2+ years ago, so of course they lost no money, but with no fundamentals / intrinsic value, and it already gone down 80%, there is no reason it can’t happen again — also, CDC have reduced their cashback percentages from 1st of July or so, because despite all the money they got from selling overvalued CRO tokens, it seems their business model is still not sustainable…

Crypto.com Stadium, AKA STAPLES Center.........CRO spent some major coin there.

https://en.wikipedia.org/wiki/Crypto.com_Arena

[vinci]

ponzi scam, the first one that sell take all the money and the last one lose it all

Edited May 16, 2022 by vinci

[ThailandRyan]

3 minutes ago, vinci said:

ponzi scam, the first one that sell take all the money and the last one lose it all

Sad that you believe this, it means you have no true perspective, however you could say the same about stocks.......

[JeffersLos]

20 minutes ago, ThailandRyan said:

But he is correct in a certain way now isn't he? Not nonsense really. 

That's true.

 

Any foreigner (or Thai, really), that declares land in Thailand cannot be lost is a bit delusional. 

[vinci]

Quote

Sad that you believe this, it means you have no true perspective, however you could say the same about stocks.......

it's hard for fanboy to accept the truth even when they lost everything

[GrandPapillon]

10 minutes ago, ThailandRyan said:

Sad that you believe this, it means you have no true perspective, however you could say the same about stocks.......

if you had a bit more experience with financial matters and the financial markets, you would know that the analogy to "ponzi" is right on the mark.

 

Sad to see that some boomers seem to miss this and drank the KoolAid with the younger crowd. At least Millennials have an excuse for their ignorance.

Edited May 16, 2022 by GrandPapillon

[GrandPapillon]

1 hour ago, Walker88 said:

How is some little retail guy going to do proper risk management?

they could start with basic "asset" diversification and equal weighted allocation among assets, and then watching assets when they go down 10% or go above 50% to rebalance

 

quite simple actually, but people are lazy ????

[Hummin]

5 minutes ago, GrandPapillon said:

if you had a bit more experience with financial matters and the financial markets, you would know that the analogy to "ponzi" is right on the mark.

 

Sad to see that some boomers seem to miss this and drank the KoolAid with the younger crowd. At least Millennials have an excuse for their ignorance.

Being sceptical can be healthy, and if you missed the fast train, there will always come a new one. Maybe not that fast, but there will be one coming. 

Edited May 16, 2022 by Hummin

[GrandPapillon]

5 hours 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. 

 

 

dude, you need to watch that Netflix series: Trust No One ????

 

[GrandPapillon]

1 hour ago, Walker88 said:

so somebody who thinks the have a stop at, say $27,000, might see the first print at $15,000, never having traded at $27K. Just because someone has a stop, if bids evaporate, the stop is meaningless and is executed at best bid.

those bitcoins gurus without any prior trading experiences on "regulated" markets need to get that, putting a stop is not a guarantee it will work. It might work for a very liquid security but not for one with a huge bid/ask spread.

 

When you don't really know who is doing the bid/ask in those "unregulated" exchanges, you can bet that those bid/ask will change dramatically when things start to go sour. This happens a lot in Equity "Options" markets since they work in market sillos, exactly like the crypto exchanges.

Edited May 16, 2022 by GrandPapillon

[GrandPapillon]

4 hours ago, Adumbration said:

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.

as believable as Madoff himself ????

 

[GrandPapillon]

4 hours ago, Gecko123 said:

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

 

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

research in crypto speak means to drink the KoolAid and watch some silly YouTube videos how some random dude you know nothing about made a billion in 2 weeks ????

 

Sold! ????

 

[ThailandRyan]

24 minutes ago, vinci said:

it's hard for fanboy to accept the truth even when they lost everything

And who has lost everything. Not I or anyone I know. Try again.  Life is good.

[GrandPapillon]

1 hour ago, Gecko123 said:

It's very difficult for me to understand why you are talking about risk management considering it is almost impossible to put a fair valuation on a crypto currency. Your comment that most of the information available to retail investors is outdated only underscores my contention that crypto bulls claiming to have thoroughly researched the crypto space and to understand the risks involved may be overly confident.

nicely put and amen to that,

[ThailandRyan]

6 minutes ago, GrandPapillon said:

research in crypto speak means to drink the KoolAid and watch some silly YouTube videos how some random dude you know nothing about made a billion in 2 weeks ????

 

Sold! ????

 

Again your talking out your tush. Research for crypto is the same as stocks. If you believe in the hype videos and Twitter you will get burned.

[sitta]

Terra USD algorithmic stable coin crash was engineered by a Hedge fund and in the process made close to a Billion?

[GrandPapillon]

1 minute ago, ThailandRyan said:

Again your talking out your tush. Research for crypto is the same as stocks. If you believe in the hype videos and Twitter you will get burned.

there is no research for cryptos, that's what you keep missing. At best it's a white paper (aka marketing brochure) selling some BS story out of thin air that only a fool could believe.

 

as for "pricing research", there is no continuous tape and price transparency, it's all "Exchange owned", so analysis techniques for securities with outrageous volatility doesn't work.

 

The pricing models are extremely weak and prone to "random walk" bias (aka unit root in stats talk)

[ThailandRyan]

7 minutes ago, GrandPapillon said:

there is no research for cryptos, that's what you keep missing. At best it's a white paper (aka marketing brochure) selling some BS story out of thin air that only a fool could believe.

 

as for "pricing research", there is no continuous tape and price transparency, it's all "Exchange owned", so analysis techniques for securities with outrageous volatility doesn't work.

 

The pricing models are extremely weak and prone to "random walk" bias (aka unit root in stats talk)

Again that is your view. Plenty of charts, graphs and the like out there so you can see as well as seeing the volume and so on.  If you want to believe it's all based on licking your finger and sticking it in the air as a litmus test your again not looking correctly.

 

https://cryptowat.ch/

Many of them out there if your a new to trading trader.

Edited May 16, 2022 by ThailandRyan

[FritsSikkink]

1 hour ago, Hummin said:

What is your wife producing to make a revenue at 9 mill a year? 
 

 

Durian

[Airalee]

1 hour ago, 1FinickyOne said:

Why don't you and I start our own crypto currency... we can sell it for $1000 a piece and call it "Itsy Bitsy Bit Coin"  and our catch phrase for advertising will be - - you won't believe its not bitcoin.. 

 

[GrandPapillon]

6 minutes ago, ThailandRyan said:

Again that is your view. Plenty if charts, graphs and the like out there so you can see as well as volume and so on.  If you want to believe it's all based on linking your finger and sticking it in the air as a litmus test your again not looking correctly.

 

https://cryptowat.ch/

Many of them out there if your a new to trading trader.

it's all BS stats and graph, that's what the crypto genius keep missing and they are going to learn the hard way now

 

simply the maths doesn't work when you have volatility that goes 4 standard deviation in a month, mathematically it's all BS.

 

You are better off watching those "buy me too" videos ????

Edited May 16, 2022 by GrandPapillon

[FritsSikkink]

1 hour ago, ThailandRyan said:

But he is correct in a certain way now isn't he? Not nonsense really.  I lost my investment, the money I paid for the property purchased and house I built on it due to a divorce.  Instead of selling it to regain 50%, whatever amount that might have been, it was not lost as far as I am concerned as the land and house were transferred to my half Thai daughter.  As far as how I see it, I look at it as an investment for her.

It is not an investment for me, it is for my kids so they never have to worry about money and can do what they really like. I work and get a good payday. Together with my pension in the future and 2 other businesses, i am sorted. 

[GrandPapillon]

I suggest Crypto gurus should read a few books on market pricing models, learn what is a unit root and a random walk, what is a mean reversion trend etc... etc...

Edited May 16, 2022 by GrandPapillon

[lkn]

18 minutes ago, ThailandRyan said:

Research for crypto is the same as stocks

Go back and read @Gecko123’s comment, he explicitly mentioned the fundamentals underlying stock valuations, which are all missing when it comes to crypto.

 

Stocks are ownership in companies with revenue, you can put a price on that. People may not agree 100% on price, but anyone should be able to explain how they arrived at it being under or overvalued, based on their expectation of the future earnings.

 

Please take any coin or token you want, and tell us how you can determine if the current price is fair, or what it is based on!

[ThailandRyan]

6 minutes ago, GrandPapillon said:

I suggest Crypto gurus should read a few books on market pricing models, learn what is a unit root and a random walk, what is a mean reversion trend etc... etc...

You must detest Cathie Wood then.....

[FritsSikkink]

27 minutes ago, ThailandRyan said:

And who has lost everything. Not I or anyone I know. Try again.  Life is good.

Think you missed a post where it said 8 people committed suicide because of their losses