Crypto Crashes

[ThailandRyan]

1 minute ago, rumak said:

I have bought 678,000 acres of prime farmland 

In the metaverse?

[Hummin]

1 minute ago, rumak said:

I have bought 678,000 acres of prime farmland 

Thats huge, where may I ask? 

[RafPinto]

3 minutes ago, Pmbkk said:

 A little reminder - you could lose everything even if the coin doesn't crash - Coinbase says anything invested with them could be lost if THEY go bankrupt - it's quite nice as your money is their money - it's like sharing where everything that is yours is theirs...

 

 

https://www.dailymail.co.uk/news/article-10807233/Coinbase-warns-customers-lose-crypto-company-goes-bankrupt.html

They must be brothers to Thai ladies.
Your money is my money ????

[RafPinto]

2 minutes ago, Hummin said:

Thats huge, where may I ask? 

Pattaya dark site.

[RafPinto]

Next thing to blow up soon are NFT's

 

Buying virtual land ????

[rumak]

Just now, ThailandRyan said:

Just now, rumak said:

I have bought 678,000 acres of prime farmland 

In the metaverse?

Ya can't eat bitcoin baby ........ 

[Hummin]

1 minute ago, rumak said:

Ya can't eat bitcoin baby ........ 

One quarter rai in your wifes name ????

[John Drake]

I remember all the "enjoy being poor" pumpers. Wonder where they are today? Jumping off buildings? Sitting in their garages with the garage door down and the car engine on? 

[ThailandRyan]

5 minutes ago, RafPinto said:

Next thing to blow up soon are NFT's

 

Buying virtual land ????

I built a house on virtual land. It is a Roblox house.

[happydreamer]

2 hours ago, ThailandRyan said:

Stocks are also sinking so its not just Crypto, S&P 500 down to its lowest in a great long time same with the NASDAQ, Glad I moved shares into Oil and Natural gas and have been trading Options and Puts.

Ive propped myself up on Energy but its hard to sustain with just that.  SPY puts bro....

[BKKBike09]

6 minutes ago, John Drake said:

Wonder where they are today? Jumping off buildings? Sitting in their garages with the garage door down and the car engine on? 

Probably got an electric car so that won't be an option.

[happydreamer]

7 minutes ago, John Drake said:

I remember all the "enjoy being poor" pumpers. Wonder where they are today? Jumping off buildings? Sitting in their garages with the garage door down and the car engine on? 

Dollar cost averaging crypto and buying SPY puts.  Business as usual.  

 

[Mac Mickmanus]

4 minutes ago, John Drake said:

I remember all the "enjoy being poor" pumpers. Wonder where they are today? Jumping off buildings? Sitting in their garages with the garage door down and the car engine on? 

When was Bitcoin due to hit US $1 Million .

Wasn't it about now that Bitcoin would cost $1 Million next year and we should have bought it last year when it was just $50 000 ?

[rumak]

Just now, Hummin said:

One quarter rai in your wifes name ????

I ALWAYS remembered to "invest"  only as much as i could comfortably do without.

Hopefully all the bitcoin millionaires AND  love stricken westerners buying buffalo farms have been as thoughtful .

 

[rumak]

Just now, happydreamer said:

Dollar cost averaging crypto and buying SPY puts.  Business as usual.  

 

maybe a few in the  "buy high and sell low"  category ?

[ThailandRyan]

7 minutes ago, John Drake said:

I remember all the "enjoy being poor" pumpers. Wonder where they are today? Jumping off buildings? Sitting in their garages with the garage door down and the car engine on? 

I am still here, still ahead as I did not and never will invest on only one component. Crypto is only a small part of my portfolio. Sure I may have lost some on the books profit, but in the end I have taken more than I invested out already and used it to help buy property for my kids, there 1st houses etc...

 

No jumping off a building for me, but others I can see stress being created right now.  On the other hand Crypto is to big to fail, just like the stock market being down right now as well, no ones jumping out of high rises yet....

[RafPinto]

2 minutes ago, rumak said:

I ALWAYS remembered to "invest"  only as much as i could comfortably do without.

Hopefully all the bitcoin millionaires AND  love stricken westerners buying buffalo farms have been as thoughtful .

 

Good buffalo. He doesn't look sick (yet).

[ThailandRyan]

5 minutes ago, happydreamer said:

Ive propped myself up on Energy but its hard to sustain with just that.  SPY puts bro....

Already done that and made money...calls, options and puts. My Schwab account is flush.....

[4MyEgo]

4 hours ago, Neeranam said:

Great time to buy when there is so much fear. 

 

I am buying. Actually bought Luna yesterday at 90c. 

Was it you that bought $200k's worth a few months back, I can't remember who it was, but at the 27k mark, I might be interested, remember, what goes up, must come down, and then up again.

[GrandPapillon]

3 hours ago, RafPinto said:

jesus, if that is not pump and dump, then what is ????

[FritsSikkink]

2 minutes ago, ThailandRyan said:

I am still here, still ahead as I did not and never will invest on only one component. Crypto is only a small part of my portfolio. Sure I may have lost some on the books profit, but in the end I have taken more than I invested out already and used it to help buy property for my kids, there 1st houses etc...

 

No jumping off a building for me, but others I can see stress being created right now.  On the other hand Crypto is to big to fail, just like the stock market being down right now as well, no ones jumping out of high rises yet....

Stock market is based on the value of actual companies who produce something. Crypto is based on FA.

[rumak]

Just now, RafPinto said:

Good buffalo. He doesn't look sick (yet).

haha  you must have missed a post of mine on the "sick buffalo"  thread .   If my buffalo gets sick....... i will get another caretaker 

[vidgra]

Wait a bit more, soon it will be valued close to ZERO....

[4MyEgo]

20 minutes ago, RafPinto said:

Next thing to blow up soon are NFT's

I think you will be seeing house prices plummeting by the end of the year in certain countries.

 

Australia, in particular, Sydney and Melbourne will surely find that out as interest rates are set to rise at 0.25% per month to the years end, if not longer.

 

 

Edited May 12, 2022 by 4MyEgo

[Walker88]

1 hour ago, HappyExpat57 said:

Remember the good ol' days where you were told you could put $1000 in the bank in your teens or early 20's, leave it alone, and retire a millionaire? I was getting 6% compound interest  on a simple savings account in the late 60's. I've said it often and will say it again: corporate greed is killing us all.

I think you are a bit confused about the nature of banks.

 

The rates banks pay is a function of general market rates. Banks tend to depend on an upward sloping yield curve, as most of their funding is short term, so they borrow cheaply (relative) and loan long.

 

If market rates---say 10Y USTs---are 8%, as they were for much of the time until the first dot-com crash, then banks might pay 5-6% on your savings. Banks tend to need a spread of 200+ pips to cover all of their costs, both fixed and variable. In case you didn't notice, 10Y rates have been averaging about 1.6% for the last few years (mostly since the 2008 Financial Crisis). The 10Y is generally used to price mortgages, which is why mortgage rates have been so low for so long. Now factor in a bank's need for a spread, and the fact most of their funding is short term, and you can easily see why their rates are so low on call items like savings for depositors. It isn't corporate greed, it's 'how do we remain an ongoing concern?'.

 

Now that the 10Y has moved up, and the Fed has raised short term rates, banks will soon offer you a better return. Best you don't wish for a return to the historical average, however, because the worldwide debt bubble will burst if rates returned to the mean. Just consider the US and its debt of $28T. Each 1% upward shift in the Yield Curve adds about $280 billion to the YEARLY deficit (depending on the tenor of the outstanding US debt and maturity schedule). A return to the historical average of 8% on the 10Y, which generally would have 30 day TBill rates around 6%, and the US would suffer an additional trillion plus in yearly deficits just from debt service.

 

Now credit cards charging 29% are a different story, but that is a combination of greed and deadbeat borrowers who max out their cards.

[GrandPapillon]

2 hours ago, RafPinto said:

Musk must also feel the head.

TSLA dropping sharply and his holdings in DOGE and BTC.
Also his Twitter investment where he promised a much higher price then it sits now.

Elon lost about 35 billions USD in the last week, things are starting to get interesting for him

 

Twitter board sold just in time, the lucky <deleted>, but if Elon had waited one week, he could have gotten the same deal at 20% off

[ThailandRyan]

1 minute ago, 4MyEgo said:

I think you will be seeing house prices plumiting by the end of the year in certain countries.

The US being one of them.

[RafPinto]

5 minutes ago, GrandPapillon said:

jesus, if that is not pump and dump, then what is ????

It looks like me spending a few hours with the lady. ????

[GrandPapillon]

32 minutes ago, Pmbkk said:

 A little reminder - you could lose everything even if the coin doesn't crash - Coinbase says anything invested with them could be lost if THEY go bankrupt - it's quite nice as your money is their money - it's like sharing where everything that is yours is theirs...

 

 

https://www.dailymail.co.uk/news/article-10807233/Coinbase-warns-customers-lose-crypto-company-goes-bankrupt.html

yeah, aka "Exit scam" strategy ????

[happydreamer]

14 minutes ago, rumak said:

maybe a few in the  "buy high and sell low"  category ?

Not selling any crypto holdings.  Puts on the other hand....you bet