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  #161  
Old 07.05.2018, 20:05
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Re: Get started trading crypto currencies

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Maybe I should have added the word hypothetically to save your fingers.
Better if you saved your fingers and didn't bother to post pointless hypothetical situations
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  #162  
Old 07.05.2018, 21:51
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Re: Get started trading crypto currencies

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Better if you saved your fingers and didn't bother to post pointless hypothetical situations
Because there are no end of people who have held stocks for 76 years and of course they never ever fell to zero.
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  #163  
Old 07.05.2018, 23:43
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Re: Get started trading crypto currencies

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Because there are no end of people who have held stocks for 76 years and of course they never ever fell to zero.
Do you own cryptos?

Are you in the HODLgang?
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  #164  
Old 08.05.2018, 02:24
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Re: Get started trading crypto currencies

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Thirdly, I find it highly likely that in a few years it'll be more like '10,000 bucks invested in bitcoin would've been worth nearly a billion and then fell to zero'.
And I think that overall, the solid cryptos will keep on appreciating. Despite all the hype, only a tiny percentage of people worldwide have yet bought into cryptos. The market is far from saturated and the sky remains the limit. In a few years, you'll have made a few percent on the stock market while I'll be enjoying returns in the whole number multiples. I may even think about selling a fraction of my investments to have a splurge on something fun. But then again, I'll probably just hodl.
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  #165  
Old 08.05.2018, 09:29
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Re: Get started trading crypto currencies

what do you see as the use cases for bitcoin?
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  #166  
Old 08.05.2018, 09:51
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Re: Get started trading crypto currencies

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And I think that overall, the solid cryptos will keep on appreciating. Despite all the hype, only a tiny percentage of people worldwide have yet bought into cryptos. The market is far from saturated and the sky remains the limit. In a few years, you'll have made a few percent on the stock market while I'll be enjoying returns in the whole number multiples. I may even think about selling a fraction of my investments to have a splurge on something fun. But then again, I'll probably just hodl.
So you're making a bet that the pool of idiots can keep on growing...may be a good bet in the end.

I'll stick with investing in the best businesses in the World while they keep increasing profits year-by-year.

Do you have any 'reasonable price' of bitcoin? $200000? Or just blindly owning it and hoping others will pay a higher price in the future so that they can sell it for an even higher price in the future future?

Bitcoin makes a great social experiment in any case.

Let's say a significant % of the world buys into bitcoin and everyone who wants a bitcoin has bought one. What now? What do we do with all these bitcoins? Trade them amongst each other? Find some martians to buy our bitcoins at an even higher price? Or do we just keep them and get a warm fuzzy feeling from seeing bitcoins in our accounts? Or will everyone finally wise up and sell them all, bringing them back down to intrinsic value of 0?
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  #167  
Old 08.05.2018, 09:56
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Re: Get started trading crypto currencies

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Do you have any 'reasonable price' of bitcoin? $200000?
$450,000, ultimately, based on the known quantity of all gold in the world.
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  #168  
Old 08.05.2018, 10:07
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Re: Get started trading crypto currencies

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$450,000, ultimately, based on the known quantity of all gold in the world.
I think the tulip model will prove more accurate than the gold

I'm looking forward to seeing how bitcoin will perform in a recession and market panic
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  #169  
Old 08.05.2018, 10:16
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Re: Get started trading crypto currencies

Precious metals beats everything else. When the world burns and society regresses to some kind of dark ages we will still be trading gold necklaces, jewels and trinkets with neighbouring villages in exchange for supplies.
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  #170  
Old 08.05.2018, 10:16
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Re: Get started trading crypto currencies

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Do you own cryptos?

Are you in the HODLgang?
Yes I do, no I am not. And I am not against traditional investments of which I have a fair few. However cryptos delivered gains over 17 months higher than all of my other investments put together, spanning 30 years. I left a little in play and that's now three times what i put in the first place.
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  #171  
Old 08.05.2018, 10:24
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Re: Get started trading crypto currencies

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$450,000, ultimately, based on the known quantity of all gold in the world.
should that be $225k if bitcoin supplements rather than supplants gold?
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  #172  
Old 08.05.2018, 10:37
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Re: Get started trading crypto currencies

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Yes I do, no I am not. And I am not against traditional investments of which I have a fair few. However cryptos delivered gains over 17 months higher than all of my other investments put together, spanning 30 years. I left a little in play and that's now three times what i put in the first place.
Good idea to sell most of it while the getting was good and leave the greater fools holding the bag
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  #173  
Old 08.05.2018, 10:46
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Re: Get started trading crypto currencies

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Precious metals beats everything else. When the world burns and society regresses to some kind of dark ages we will still be trading gold necklaces, jewels and trinkets with neighbouring villages in exchange for supplies.
Better to invest in weapons and hideouts in that case probably. If we went back to the dark ages I don't think anybody would respect 'civilized society' anymore... more of a Mad Max situation
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  #174  
Old 08.05.2018, 23:16
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Re: Get started trading crypto currencies

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should that be $225k if bitcoin supplements rather than supplants gold?
Why should Bitcoin supplement gold, instead of supplanting it? It has multiple advantages over gold, especially in storage and transport. What practical application does gold have, other than as a show of wealth (primary) or some very limited uses in the medical and chemical fields (in which demand would probably be met by the contents of the vaults of one branch of UBS)?
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  #175  
Old 09.05.2018, 08:07
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Re: Get started trading crypto currencies

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I think the tulip model will prove more accurate than the gold
The tulip 'bubble' turns out to have been a bit of a storm in a teacup. Most of what we think we know about it comes from Mackay's "Extraordinary Popular Delusions" book written (in a shock-horror tabloid style which would make Murdoch proud) in the 19th century. Kind of a metaphor for the current situation...

Tulip mania: the classic story of a Dutch financial bubble is mostly wrong
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  #176  
Old 09.05.2018, 09:16
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Re: Get started trading crypto currencies

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Precious metals beats everything else. When the world burns and society regresses to some kind of dark ages we will still be trading gold necklaces, jewels and trinkets with neighbouring villages in exchange for supplies.
Not accurate $10k of gold bought in 1942 would be worth $400,000, same invested in S&P500 with income reinvested $51,000,000. So stocks beat gold over 100 fold over a life time.
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  #177  
Old 09.05.2018, 09:26
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Re: Get started trading crypto currencies

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Not accurate $10k of gold bought in 1942 would be worth $400,000, same invested in S&P500 with income reinvested $51,000,000. So stocks beat gold over 100 fold over a life time.
I think you misunderstand and likely read only the first sentence of that entire paragraph, FMF. I was semi-jokingly talking about a regressive age where stocks cease to exist and precious metals are once more the words currency, like in Ye Olden Days.
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  #178  
Old 09.05.2018, 09:52
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Re: Get started trading crypto currencies

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The tulip 'bubble' turns out to have been a bit of a storm in a teacup. Most of what we think we know about it comes from Mackay's "Extraordinary Popular Delusions" book written (in a shock-horror tabloid style which would make Murdoch proud) in the 19th century. Kind of a metaphor for the current situation...

Tulip mania: the classic story of a Dutch financial bubble is mostly wrong
After reading that page, it seems that bitcoin is even more alike to the tulip bubble

"No one drowned themselves in canals. I found not a single bankrupt in these years who could be identified as someone dealt the fatal financial blow by tulip mania. If tulip buyers and sellers appear in the bankruptcy records, its because they were buying houses and goods of other people who had gone bankrupt for some reason they still had plenty of money to spend. "

No one (that I've heard about) has thrown themselves in a canal or made themselves bankrupt with bitcoin either.......but guess what, the fact stands that tulip prices inflated to insane bubble levels and then came back down to earth with a crash.
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  #179  
Old 09.05.2018, 10:29
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Re: Get started trading crypto currencies

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but guess what, the fact stands that tulip prices inflated to insane bubble levels and then came back down to earth with a crash.
Well, we don't actually know whether bitcoin is (or has been) at insane bubble levels yet. (It could be, I'm always ready to short depending on the daily goat entrails...). Currently, I still stand by my 'functional valuation' (comparing it to companies like PayPal) which indicates a market cap of about 100 billion or so. (With an order-of-magnitude 'fudge-factor'. )
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  #180  
Old 09.05.2018, 10:43
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Re: Get started trading crypto currencies

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Well, we don't actually know whether bitcoin is (or has been) at insane bubble levels yet. (It could be, I'm always ready to short depending on the daily goat entrails...). Currently, I still stand by my 'functional valuation' (comparing it to companies like PayPal) which indicates a market cap of about 100 billion or so. (With an order-of-magnitude 'fudge-factor'. )
Paypal makes money. It's a business. It makes an annual revenue and cash flow. You can look at it's fundamental business values to determine what you would pay for a piece of that business, no different to any other business.

Bitcoin is a 'currency' (and a pretty useless one at that), with a price purely driven by speculation and with no intrinsic fundamental valuation.

Each to their own I guess. Good luck to you.
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