General Bitcoin / Cryptocurrency

Thoughts on Cryptocurrency?

  • Snake Oil. Im not falling for it. It will be worthless.

  • The way of the future. "Yes...1 Lambo in black with red acsents please"

  • I missed the boat. Heard about it before but didnt do anything about it.

  • Errrr...what is BitCoin?


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Off The Bench

Warriors 1st Grader
Jan 26, 2014
3,176
Yeah I missed yesterday but all the graphs I seen
Looks like its kind of stopped dropping .But havnt
Had a go yet .So its all new to me but I got the
Profit trader so it should be fun.
 

Off The Bench

Warriors 1st Grader
Jan 26, 2014
3,176
Whats profit trader?

It trades 24 ,7 for you I brought the beginners package .
So its basically a web bot .You get to set your trading pairs a few
Other settings an watch it go nuts .
Go to you tube Cryptodaily profit trailer .
I'll let you know how it goes .
 

tajhay

Negative Nancy
Mar 30, 2012
9,975
Sydney
It trades 24 ,7 for you I brought the beginners package .
So its basically a web bot .You get to set your trading pairs a few
Other settings an watch it go nuts .
Go to you tube Cryptodaily profit trailer .
I'll let you know how it goes .
Be careful with that. At the end of the day its simply a bot that you create parameters for in a market where swings of 10-20% in a matter of minutes/hours is normal right now. Ensure you are also factoring in transaction fees each time you buy and sell. Not sure about nz taxation laws but every trade is considered a cgt event in aus with 12month holds having a discount of 50%.

Good luck!
 

Off The Bench

Warriors 1st Grader
Jan 26, 2014
3,176
I know America just changed their tax laws .We got a couple of accounting students at work one of
Them is looking at NZ laws for me ..as the paper work may as well be written in
Chinese to me .
I might even take a trip over seas an set it up in Bali
Or somewhere .
I'll let you know how it goes .
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,677
Out of interest what is your valuation methodology for crypto?

Not enough time to list everything.

I've moved away from daytrading to long term holds.
I'm holding top coins, and then investing in utility tokens I like.
Then ICOs I like, and finally low market cap coins I think have a great upside.
 

Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
Not enough time to list everything.

I've moved away from daytrading to long term holds.
I'm holding top coins, and then investing in utility tokens I like.
Then ICOs I like, and finally low market cap coins I think have a great upside.
Yeah however my question I guess is what gives you such strong conviction of this great upside? Why should bitcoin for example be worth $50k in the future rather than $1k?

My preferred valuation methodology for equities is discounted cash flow and I value the overall market using implied market risk premium. What are you using to support your crypto valuations?
 
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Mr Frank White

Warriors 1st Grader
May 19, 2012
3,677
Yeah however my question I guess is what gives you such strong conviction of this great upside? Why should bitcoin for example be worth $50k in the future rather than $1k?

My preferred valuation methodology for equities is discounted cash flow and I value the overall market using implied market risk premium. What are you using to support your crypto valuations?

Nothing apart from previous history and speculation, plus why would I use an equity formula to crypto? They just signals you me that you don't know anything about crypto and are applying a methodology that is incompatible to it.

It's like asking about cash flow on a precious metal holding.

Crypto is a strange hybrid of currency/commodity that may or may not be finite depending on the asset.
And then some cryptos do pay a dividend of sorts. .

I've already realised 400% ROI, so it's a pure speculative gamble. Even after the correction, portfolio is sitting at 10,000% OI so I'm happy to risk it all.
 
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Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
Nothing apart from previous history and speculation, plus why would I use an equity formula to crypto? They just signals you me that you don't know anything about crypto and are applying a methodology that is incompatible to it.

It's like asking about cash flow on a precious metal holding.

Crypto is a strange hybrid of currency/commodity that may or may not be finite depending on the asset.
And then some cryptos do pay a dividend of sorts. .

I've already realised 400% ROI, so it's a pure speculative gamble. Even after the correction, portfolio is sitting at 10,000% OI so I'm happy to risk it all.
And there you have it - a pure speculative gamble. I completely agree with your description. There is nothing fundamental that supports the conviction that you have indicated on this subject. No one reading this thread should be making ANY investment decisions in crypto based on what they read from you.

Also I never suggested you use an equity formula to value crypto. One thing you are correct on is that I don't have a clue what it's worth - however neither does Jack Ma, so I guess that puts me in pretty good company.
 

tajhay

Negative Nancy
Mar 30, 2012
9,975
Sydney
And there you have it - a pure speculative gamble. I completely agree with your description. There is nothing fundamental that supports the conviction that you have indicated on this subject. No one reading this thread should be making ANY investment decisions in crypto based on what they read from you.

Also I never suggested you use an equity formula to value crypto. One thing you are correct on is that I don't have a clue what it's worth - however neither does Jack Ma, so I guess that puts me in pretty good company.
Whilst i agree crypto is largely speculative isnt that the same with most markets? Stock? Forex? Gold? Housing? etc?

Only put in what you can afford to lose. Anything more and its dangerous.

Im purely 'investing' in technology that is in very much in its infancy state.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,677
And there you have it - a pure speculative gamble. I completely agree with your description. There is nothing fundamental that supports the conviction that you have indicated on this subject. No one reading this thread should be making ANY investment decisions in crypto based on what they read from you.

Also I never suggested you use an equity formula to value crypto. One thing you are correct on is that I don't have a clue what it's worth - however neither does Jack Ma, so I guess that puts me in pretty good company.
1. DO YOUR OWN RESEARCH
2. THIS IS NOT FINANCIAL ADVICE


At no stage did I pretend this was anything but a big risk in an emerging market.
I brought equities into because you did, which is about as useful as someone mentioning evaluating investment properties in the same breath as crypto.
 
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Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
1. DO YOUR OWN RESEARCH
2. THIS IS NOT FINANCIAL ADVICE


At no stage did I pretend this was anything but a big risk in an emerging market.
I brought equities into because you did, which is about as useful as someone mentioning evaluating investment properties in the same breath as crypto.
No I asked you what your valuation methodology was for crypto. Your response was "not enough time to list everything". Therefore, using equities as an example, I explained in 1 sentence a valuation methodology for the asset class that I specialise in. You subsequently confirmed what I already knew (my original post was a loaded question) which was that you are doing nothing but speculating on the future. You have no more idea on the future value of crypto then anyone that has dared criticise it's longer-term outlook on this thread.

Good for you if you have made the returns on your investment that you say you have. It's nice to get lucky every now and then.
 

Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
Whilst i agree crypto is largely speculative isnt that the same with most markets? Stock? Forex? Gold? Housing? etc?

Only put in what you can afford to lose. Anything more and its dangerous.

Im purely 'investing' in technology that is in very much in its infancy state.
Some markets are much more speculative than others, particularly in the short term. However longer-term all assets will revert to their fundamental value. There's been extreme examples of mean reversion over the years, tulips being probably the most famous example. Even right now equities are well above mid-cycle valuation, real estate as well - interest rates have had a huge influence on both. I genuinely wouldn't have a clue on crypto, however most seem to think it's at the pointy end of a global asset bubble.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,677
No I asked you what your valuation methodology was for crypto. Your response was "not enough time to list everything". Therefore, using equities as an example, I explained in 1 sentence a valuation methodology for the asset class that I specialise in. You subsequently confirmed what I already knew (my original post was a loaded question) which was that you are doing nothing but speculating on the future. You have no more idea on the future value of crypto then anyone that has dared criticise it's longer-term outlook on this thread.
Good for you if you have made the returns on your investment that you say you have. It's nice to get lucky every now and then.

If you had asked how do I evaluate the asset class, then you would have got that answer immediately, instead of trying to reach an "ahah" wanky moment, like you uncovered some secret.
You're questions to me was evaluating cryptos within the class.

Then you proselytise that I have no more idea than the future than anyone else who "dared criticise it's longer-term outlook". Which, is kinda bs because all I've seen is people who have zero experience with crypto, criticising it. Its people making the moronic "tulip mania" comparison, meaning that that individual has done zero research.

If someone mentioned the inherent structural problems in BTC and others, then we would have a robust debate about and why I think the blockchain is here to stay, but I cant have that conversation with people who dont understand what the blockchain is.

Your post reeks of the usual smugness that traditional investors have about crypto, which may be in fact warranted at some stage. But 7 years of technical analysis says otherwise.

People have been saying its a bubble at $100, $500, $1000, $5000, $10,000 and then $20K, do you have any of your own FA or TA that suggests its a bubble?
 

Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
If you had asked how do I evaluate the asset class, then you would have got that answer immediately, instead of trying to reach an "ahah" wanky moment, like you uncovered some secret.
You're questions to me was evaluating cryptos within the class.

Then you proselytise that I have no more idea than the future than anyone else who "dared criticise it's longer-term outlook". Which, is kinda bs because all I've seen is people who have zero experience with crypto, criticising it. Its people making the moronic "tulip mania" comparison, meaning that that individual has done zero research.

If someone mentioned the inherent structural problems in BTC and others, then we would have a robust debate about and why I think the blockchain is here to stay, but I cant have that conversation with people who dont understand what the blockchain is.

Your post reeks of the usual smugness that traditional investors have about crypto, which may be in fact warranted at some stage. But 7 years of technical analysis says otherwise.

People have been saying its a bubble at $100, $500, $1000, $5000, $10,000 and then $20K, do you have any of your own FA or TA that suggests its a bubble?
I've said already that I don't have a clue what it might or might not be worth. My problem was more the conviction of your statements which you have since confirmed is nothing more than speculation on your part.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,677
I've said already that I don't have a clue what it might or might not be worth. My problem was more the conviction of your statements which you have since confirmed is nothing more than speculation on your part.
Not too sure what the "conviction of your statements" is meant to point to.. My most bullish statement was the best time to invest was yesterday is a well known colloquialism...
In fact I suggested people play trade on an app to see what would happen....

If you can point me to a factually incorrect, or risky financial suggestion that I made, I'm happy to retract it...
 

Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
How about "this is the single largest transfer of wealth in the history of man". That seems reasonably high conviction to me. I just don't want to see people making investment decisions off unbalanced comments like that.
 

Mr Frank White

Warriors 1st Grader
May 19, 2012
3,677
How about "this is the single largest transfer of wealth in the history of man". That seems reasonably high conviction to me. I just don't want to see people making investment decisions off unbalanced comments like that.
https://www.cnbc.com/video/2018/01/...t-wealth-transfer-in-history-current-ceo.html

https://www.investec.com/en/welcome...insights/investing/the-future-of-bitcoin.html

https://chrisdunn.com/looking-back-5-years-bitcoin-trading-investing/

If you can show me how you can take $100 invest and make $1000 in any other traditional asset class, (in the BTC timeframe) I will happily retract every statement Ive made.
 

Mr Brownstone

1st Grade Fringe
Nov 9, 2014
2,971
https://www.cnbc.com/video/2018/01/...t-wealth-transfer-in-history-current-ceo.html

https://www.investec.com/en/welcome...insights/investing/the-future-of-bitcoin.html

https://chrisdunn.com/looking-back-5-years-bitcoin-trading-investing/

If you can show me how you can take $100 invest and make $1000 in any other traditional asset class, (in the BTC timeframe) I will happily retract every statement Ive made.
Heaps of examples in equities. Check out the Fortescue Metals share price (FMG.AX) back when they first found iron ore in about 2006 and compare it to now (taking share splits into consideration. 20x return within a pretty short period of time. In NZ one of Howard Paterson's listings Blis Technologies went from 10c to $2 on the first day of listing - I owned it however I can't even remember now if it was in the primary or secondary board. Turned out to be a complete dud however that didn't stop everyone making 2000% return in 24 hours. a2 Milk this year has done very well and is now one of the largest market cap stocks on the NZX.
 
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