Crypto Crashes

[NativeBob]

15 minutes ago, Neeranam said:

Just hover your mouse over their name, an 'ignore' option appears.  This then shows the list of ignored users. 

 

 

what a relief! just another thing is annoying is "how to edit/delete" my previous posts? Say it I mentioned somebody's personal details few weeks ago or change my opinion on Melania's T. gender???

[Neeranam]

Just now, NativeBob said:

what a relief! just another thing is annoying is "how to edit/delete" my previous posts? Say it I mentioned somebody's personal details few weeks ago or change my opinion on Melania's T. gender???

I believe you can't if it is more than 20 minutes or so, unless you contacted a moderator. 

[FritsSikkink]

39 minutes ago, ThailandRyan said:

Because in turn he may be buying more at the lower value which will increase as time goes on.....does that make sense now or not.

It would if he didn't say Buy the Dip

[RafPinto]

13 hours ago, ThailandRyan said:

Stocks are also at a low, can you not even see your own disconnect.  It is a global issue and not just Crypto.......give it a rest.  Many in the stock market who just started investing in the past two years are completely devastated as well. 

https://www.fool.com/investing/2022/05/15/1-investment-im-stocking-up-on-if-the-market-crash/,

 

While this downturn could signal that a full-blown crash is coming, nobody knows for certain what the future holds for the market. Even the experts cannot predict exactly how the market will perform in the near term, and whether we'll see a crash is anyone's guess.

 

Just like Crypto investors

https://nypost.com/2022/05/13/bitcoin-cryptocurrencies-rebound-after-brutal-crypto-crash/

Not really.

UK shares are doing well for once.

Apple, Netflix, AMZN, 

Crypto

Bonds

Dow Jones, Nasdaq, all at least 20%. YTD 

 

My biggest holding SHELL doing very well YTD 37% up

[ThailandRyan]

1 minute ago, RafPinto said:

Not really.

UK shares are doing well for once.

Apple, Netflix, AMZN, 

Crypto

Bonds

Dow Jones, Nasdaq, all at least 20%. YTD 

 

My biggest holding SHELL doing very well YTD 37% up

Some are up in certain positions such as Service and Oil while others well

[GroveHillWanderer]

12 minutes ago, NativeBob said:

what a relief! just another thing is annoying is "how to edit/delete" my previous posts? Say it I mentioned somebody's personal details few weeks ago or change my opinion on Melania's T. gender???

There is a short time window within which you can edit or delete posts. Once that time has expired the only way to delete a post is to contact the site administrators and if you give them a valid reason they may agree to delete (or possibly edit) it for you.

[rimmae2]

27 minutes ago, RafPinto said:

Not really.

UK shares are doing well for once.

Apple, Netflix, AMZN, 

Crypto

Bonds

Dow Jones, Nasdaq, all at least 20%. YTD 

 

My biggest holding SHELL doing very well YTD 37% up

YTD is a short timescale; depends when you bought it, what you plan to do with it (all or part), base currency (ies),....

[RafPinto]

Just now, rimmae2 said:

YTD is a short timescale; depends when you bought it, what you plan to do with it (all or part), base currency (ies),....

Can also go further back:

 

Shell on 1 year 63% up

2 years, around 100% up

 

Just to demonstrate that 2022 is a bad year for most investments.

Almost everything is going down, no matter where you park your money.
Stock exchange, Bonds, crypto etc.

Property is still holding up but as rising interest rates, this soon also will take a hit.

 

 

[RafPinto]

6 minutes ago, rimmae2 said:

YTD is a short timescale; depends when you bought it, what you plan to do with it (all or part), base currency (ies),....

Growth and income shares.

Collect dividends and re-invest/compound.

Sometimes, part of a specific investment is sold off to invest in other higher dividend paying shares.
For now, I am still very positive on my SHELL investment.

[lkn]

5 hours ago, ThailandRyan said:

Why is a Picasso worth Millions

I see you realized stocks (ownership in companies with cashflows) are very different from crypto and is now trying with “fine art”.

 

But comparing crypto to “fine art” is also misguided: Most people won’t even pay the museum entry fee to see a Picasso painting, so it is hardly worth millions among the broader population.

 

Only people with far too much wealth chase these rare collectables, look at how few actually attend the auctions, we are talking about a market for the ultra rich.

 

Nobody is trading art on margin 24/7, as we see with crypto. Crypto is closer to betting on horse racing, except most people who gamble know the odds: When we go to the horse track, we are saying WAGMI (we are all gonna make it).

[lkn]

4 hours ago, ozimoron said:

Google, Amazon and a host of other companies would have been a fantastic buy when they were not making anything and burning capital

But they were making something. They solved problems for people, they had a business plan, and if you bought their stock (i.e. help provide the capital required to build out their business), you would be entitled to a share of future earnings, once the business was raking in money.

 

Please tell me, if I buy a bitcoin today, what am I actually buying? There is no cashflow and there never will be. There is no ownership in anything, and there never will be. There is no business plan, just hype and FOMO makes people buy.

Edited May 17, 2022 by lkn

[ozimoron]

27 minutes ago, lkn said:

But they were making something. They solved problems for people, they had a business plan, and if you bought their stock (i.e. help provide the capital required to build out their business), you would be entitled to a share of future earnings, once the business was raking in money.

 

Please tell me, if I buy a bitcoin today, what am I actually buying? There is no cashflow and there never will be. There is no ownership in anything, and there never will be. There is no business plan, just hype and FOMO makes people buy.

If you buy a bitcoin today you will own it. It's exactly the same as buying a useless 400 year old painting. The issue here is that people can't get their heads around "if I can't touch it it, it's not real". Deal with it, bitcoin didn't go from 0.30c to $65,000 for no reason over ten years. You might not like it but that's hardly an argument against it.

[Hummin]

1 minute ago, ozimoron said:

If you buy a bitcoin today you will own it. It's exactly the same as buying a useless 400 year old painting. The issue here is that people can't get their heads around "if I can't touch it it, it's not real". Deal with it, bitcoin didn't go from 0.30c to $65,000 for no reason over ten years. You might not like it but that's hardly an argument against it.

Have you ever tried to be convinced to buy a piece of art from an uknown artist, that some amateur art experts tried to push on you as an smart investment for future? 
 

There is only one reason why we discuss crypto currency’s all over internet, and thats because those who invest, understand they need to work hard to keep the interest up, if not, it will die out by itself. The interest and price is driven by buyers hype, media and because of it nature of not really worth anything. 

[ozimoron]

11 minutes ago, Hummin said:

Have you ever tried to be convinced to buy a piece of art from an uknown artist, that some amateur art experts tried to push on you as an smart investment for future? 
 

There is only one reason why we discuss crypto currency’s all over internet, and thats because those who invest, understand they need to work hard to keep the interest up, if not, it will die out by itself. The interest and price is driven by buyers hype, media and because of it nature of not really worth anything. 

What? Do you think every bitcoin holder is plying the internet shilling the coins? If the price is driven by hype then there's a lot of hype. If you invested $100 in the first year of bitcoin you'd be a multi millionaire now.

 

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Edited May 17, 2022 by ozimoron

[lkn]

7 hours ago, ThailandRyan said:

Former Fed Chairman Bernake does not like BTC, but he has said it will always be around as a speculative asset.  Give that a thought for a minute

Here is the full context, I’m having a hard time seeing how that is different from anything skeptics have said for years now.

 

[Hummin]

2 minutes ago, ozimoron said:

What? Do you think every bitcoin holder is plying the internet shilling the coins?

 

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Crypto coins is obvious a good money maker machine for those who know how to play the marked,  but for those who sit and hold coins for future, have not made a dime yet. For those who sit and hold, it is just numbers on a paper or on your screen. 
 

do we know for sure btc will go up again, or is it over? Most likely it will climb to a new record, and then fall again suddenly and rapid. Some make huge loads of money hitting the top, and some will loose big because they can afford to loose and sell out to late. 
 

Those who is rich can sit and hold, because its just another Las Vegas game for them. 
 

 

[ozimoron]

4 minutes ago, lkn said:

Here is the full context, I’m having a hard time seeing how that is different from anything skeptics have said for years now.

Bitcoin won't be a currency for the same reasons as gold isn't. It's worth too much, there's not enough off it and transaction times are too long.

[ozimoron]

2 minutes ago, Hummin said:

Crypto coins is obvious a good money maker machine for those who know how to play the marked,  but for those who sit and hold coins for future, have not made a dime yet. For those who sit and hold, it is just numbers on a paper or on your screen. 
 

do we know for sure btc will go up again, or is it over? Most likely it will climb to a new record, and then fall again suddenly and rapid. Some make huge loads of money hitting the top, and some will loose big because they can afford to loose and sell out to late. 
 

Those who is rich can sit and hold, because its just another Las Vegas game for them. 
 

 

We can't say that any asset will make money. None. If we experience another great depression, houses will be worth a fraction of their current price.

[ThailandRyan]

1 hour ago, lkn said:

But they were making something. They solved problems for people, they had a business plan, and if you bought their stock (i.e. help provide the capital required to build out their business), you would be entitled to a share of future earnings, once the business was raking in money.

 

Please tell me, if I buy a bitcoin today, what am I actually buying? There is no cashflow and there never will be. There is no ownership in anything, and there never will be. There is no business plan, just hype and FOMO makes people buy.

You are unfortunately one of those folks that insist new ideas, digital currency, and ones already in use like the blockchain technology, which is very useful, are never going to catch on and become in reality something successful.  Look at how many governments are in the process of trying to create such a digital currency while competing with the crypto currencies. If it all goes pear shaped, as your belief, and that's an if, then you can spout the rhetoric that you continue to spout.  Until then your like the person who insists the world is flat......

Edited May 17, 2022 by ThailandRyan

[Hummin]

15 minutes ago, ozimoron said:

We can't say that any asset will make money. None. If we experience another great depression, houses will be worth a fraction of their current price.

It is still a house sitting on a land, but I understand it is hard to differ from something physical than an illusion. If all the governments decide this is the future, do you really believe btc will have any interests anymore? It is a bubble, but for how long? Good luck with your investments. 

[Hummin]

5 minutes ago, ThailandRyan said:

You are unfortunately one of those folks that insist new ideas, digital currency, and ones already in use like the blockchain technology, which is very useful, are never going to catch on and become in reality something successful.  Look at how many governments are in the process of trying to create such a digital currency while competing with the crypto currencies. If it all goes pear shaped, as you belief, and that's an if, then you can spout the rhetoric that you continue to spout.  Until then your like the person who insists the world is flat......

It is the blockchain tech thats hold a value, not assets using blockchain, or Im missing something? 

[ThailandRyan]

3 minutes ago, Hummin said:

It is still a house sitting on a land, but I understand it is hard to differ from something physical than an illusion. If all the governments decide this is the future, do you really believe btc will have any interests anymore? It is a bubble, but for how long? Good luck with your investments. 

Until the day the Government takes it away without compensation by claiming eminent domain.  Then what are you left with, the same as you and others keep saying BTC and crypto's will become. Try again.....

[lkn]

10 minutes ago, ThailandRyan said:

You are unfortunately one of those folks that insist new ideas, digital currency, and ones already in use like the blockchain technology, which is very useful, are never going to catch on

I am just asking what it does, where the value comes from, what these use-cases are, and the response is: You just don’t understand.

 

You think this is how scientists convinced people that the Earth was round? No, they presented a convincing model.

[sezze]

49 minutes ago, ozimoron said:

What? Do you think every bitcoin holder is plying the internet shilling the coins? If the price is driven by hype then there's a lot of hype. If you invested $100 in the first year of bitcoin you'd be a multi millionaire now.

 

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

If you invested 100$ in Tesla or Apple or Microsoft you are multimillionaire also . You can try convince me that crypto's are a good investment but they are not . They are speculation . That is also why they are so volatile , they move up/down 10% to 1000% in a week , making it maybe fun to watch but is not called good investment . It can be a rewarding gamble , like a lottery ticket , but that does not mean it is a good investment . I do know a few people who trade on crypto's and they always try convince others how good it is . A few of the people who they did convince are already out of the market because they lost 50% or more on that so called "good investment" . While stockmarkets also got difficult times , you will not see the same movements , which is why they are much better investments , especially for people who do not look at their computers/phones buying and selling their investments .

[atpeace]

13 minutes ago, lkn said:

I am just asking what it does, where the value comes from, what these use-cases are, and the response is: You just don’t understand.

 

You think this is how scientists convinced people that the Earth was round? No, they presented a convincing model.

It has created an enormous amount of wealth and at this point that is really all it has done.  It has no real world use.  It doesn't bring you pleasure as art can or used in construction like steel.  In the future it might be used just as the paper money but that is not why 99% of investors are investing. 

 

With all the liquidity throughout the world investors have lost their minds IMO.

[ozimoron]

11 minutes ago, sezze said:

If you invested 100$ in Tesla or Apple or Microsoft you are multimillionaire also . You can try convince me that crypto's are a good investment but they are not . They are speculation . That is also why they are so volatile , they move up/down 10% to 1000% in a week , making it maybe fun to watch but is not called good investment . It can be a rewarding gamble , like a lottery ticket , but that does not mean it is a good investment . I do know a few people who trade on crypto's and they always try convince others how good it is . A few of the people who they did convince are already out of the market because they lost 50% or more on that so called "good investment" . While stockmarkets also got difficult times , you will not see the same movements , which is why they are much better investments , especially for people who do not look at their computers/phones buying and selling their investments .

I'm not trying to convince you that they are a good investment, they are not. Like shares, they should be bought and sold, not just held. There is money to be made and investors are attracted to crypto precisely because of the volatility. The price of gold or shares move at a snail's pace in comparison. For those who are willing to put in the work there is the potential for great gains to be made. Historically, that has been the case, along with great losses.

[tubby johnson]

On 5/12/2022 at 8:30 PM, Neeranam said:

 I wish I could say what I really think about the following people but I would be banned. Disgusting. 

@mokwit  @John Drake @GrandPap   @chippendale

Sour grapes much? Bitter tears of impotent rage? 

[Hummin]

11 minutes ago, ozimoron said:

I'm not trying to convince you that they are a good investment, they are not. Like shares, they should be bought and sold, not just held. There is money to be made and investors are attracted to crypto precisely because of the volatility. The price of gold or shares move at a snail's pace in comparison. For those who are willing to put in the work there is the potential for great gains to be made. Historically, that has been the case, along with great losses.

To me the most interesting part is the discussion around especially BTC among my friends and friends of friends who invested in BTC, is mostly the same individuals who invested in World games pyramid scheme, and also in the same type of saving the world by planting trees in Africa. And also mostly the same arguments and intensity of pushing others to invest, especially when it goes down. 

 

 

[lkn]

27 minutes ago, atpeace said:

It has created an enormous amount of wealth and at this point that is really all it has done

I would argue it has moved an enormous amount of wealth.

 

Something crypto investors fail to understand is that profit must come from somewhere. If I buy stock in Pfizer, and they pay me $1-2 per stock in annual dividend, then that money is from the profit they made by selling medicine.

 

If I bought the stock 3 years ago for $35 and it is now trading at $50 then that is because 3 years ago we had no idea about all the revenue Pfizer would be making from selling their Comirnaty vaccine, which in turn should increase their annual dividend / company value.

 

Of course all that profit made on the Pfizer stock comes from people buying Pfizer products, so one could argue that here we are also just moving money.

 

The big difference is that those who buy Pfizer products (or goods and services from any company) hopefully get something they need/want for their money.

[fdsa]

6 hours ago, NativeBob said:

How do you block those annoying trolls? I mean it's quite tiresome to scroll their "my thoughts my opinion" mega-smarts trash?

lol, that feel when you have participated in the development of crypto long before these "crypto enthusiasts" even knew what crypto is, and now you are an "annoying troll" for them because you write things they do not like and prefer to not know about.

Edited May 17, 2022 by fdsa