Australian (ASX) Stock Market Forum

Bitcoin and cryptocurrency trading thread

Jump to new
moXJO said:
Heres a link to Buffetts portfolio (supposedly).
http://warrenbuffettstockportfolio.com/index.html
Lota banks, eww mosanto the evil and he still is in coke?
Click to expand...

Got Apple but that's about it!

Don't see too many of these on his list.

http://fortune.com/2014/06/02/top-stocks-500/

luutzu said:
Investors don't need to be innovative. Just be knowledgeable.

We can all take a punt and have a speculation here and there. Graham talk about it, maybe, from memory, even suggest it's not a bad thing to speculate.

Just when speculating, do it with money you can afford to lose.


Investing as in the allocation of capital... that's very different from being entrepreneurial. Different job description.

There are "angel" investor, venture capitalist who backed entrepreneurs. And no, they're not always the government using public money.

Musk and Branson are good salesman. That's not saying they're not clever... but a different kind of clever, not the technologist or airline/music/car manufacturing/space explorer they're made out to be.

Look at Nikola Tesla or Thomas Edison or Ford or Disney... They're enterprising pioneers. They're not investors. The investor that eventually bring those vision to the mass market, they're not the innovative kind either - just seeing value and profit from their investment.
Click to expand...


Id accept that if Buffett weren't sprouting off like an expert in the field that Crypto technology is just another tech type bubble.

For someone who doesn't know anything on the topic he is making statements that indicate he is---at least in his stance.
 
tech/a said:
Got Apple but that's about it!

Don't see too many of these on his list.

http://fortune.com/2014/06/02/top-stocks-500/




Id accept that if Buffett weren't sprouting off like an expert in the field that Crypto technology is just another tech type bubble.

For someone who doesn't know anything on the topic he is making statements that indicate he is---at least in his stance.
Click to expand...

Crypto is, like any asset (financial instrument?) on the rise, is great for those who were smart or lucky enough to get in early (and are either out completely or out to make enough profit on their initial investment).

For everyone else, there's hope and prayers.

But who knows. It might eventually develop into something with actual assets and cash flow backing it. Until it does, it make more sense to buy a $1M property in Western Sydney today thinking it's a safe investment with nothing but upsides.
 
luutzu said:
Read on Reuters that US companies double or triple their market cap by simply changing their company name to have Bitcoin or crypto etc. in it.
Click to expand...

Exactly the same as when all sorts of companies added “.com” to their name in 1999 or early 2000.

The similarities between the crypto boom and the late 1990’s dot.com boom are incredible. It’s the same scenario in practically every way.
 
Smurf1976 said:
Exactly the same as when all sorts of companies added “.com” to their name in 1999 or early 2000.

The similarities between the crypto boom and the late 1990’s dot.com boom are incredible. It’s the same scenario in practically every way.
Click to expand...
Fear and greed. God bless humans....

I traded through the tech wreck. Made a mint then as well. Buffett said the exact same thing back then as well: "its going to crash". I think it was 1 year later from when he said it that the whole thing imploded.
The true believers were all smashed. The guys that got in early made bank. And hordes of people missed out completely.
I still remember one of my workers saying get into gold its heaps cheap. $200 or $400 it was around that price.
Awesome times back then.
 
luutzu said:
Crypto is, like any asset (financial instrument?) on the rise, is great for those who were smart or lucky enough to get in early (and are either out completely or out to make enough profit on their initial investment).

For everyone else, there's hope and prayers.

But who knows. It might eventually develop into something with actual assets and cash flow backing it. Until it does, it make more sense to buy a $1M property in Western Sydney today thinking it's a safe investment with nothing but upsides.
Click to expand...

It needs to crash before it develops into something usable imo.

Generally these bubbles go like this.
First in you can be a dumb $hit.

Once it starts running, be on whats popular. And getting informed/ spreading money on the second tier investments

Once it looks too stupid to enter trade the corrections.
The longer you wait the more knowledgeable you have to be imo. Or you get caught.

I'm more interested in where everyone is going to jump after this pops
 
Whilst my ears are always happy to hear a good quack.
I do think it is most appropriate, at this point of time, to be running around like a terrified chicken amidst the cryptogalactica.

Two of the major exchanges have massive back logs of people trying to open up accounts to get in on the action:rolleyes:, these late comers are the ones who will get burned so it needs a bit of cooling, hopefully some listen to the chaos in the coupe.

Which isn't to say that I am not a a chicken at heart.:D:eek:
 
The way the Australian make is going, banking stock not going anywhere, I wonder how many investors/traders have pulled out funds from the share market into crypto currencies.

I sure did, about 15% into crypto currencies.
 
luutzu said:
Keep out of it if the investor know nothing about it.

That's just common sense.
Click to expand...
Thats pretty broad though. You can understand what they are trying to achieve. And have a general knowledge of the product and why it might benefit. You can also just invest in bull trends.

Pretty sure he ain't that dumb not to understand cryptocoin. Just why would you when you can move entire markets or companies. He doesn't need to make it. He already made it.

He didn't get rich from investing chump change. The guy is an investment genius who had big money at his disposal early on.
I'd still be a poor bastard till 60 if I kept following his method, just due to starting capital. I was lucky enough to realize a while back.
 
moXJO said:
Thats pretty broad though. You can understand what they are trying to achieve. And have a general knowledge of the product and why it might benefit. You can also just invest in bull trends.

Pretty sure he ain't that dumb not to understand cryptocoin. Just why would you when you can move entire markets or companies. He doesn't need to make it. He already made it.

He didn't get rich from investing chump change. The guy is an investment genius who had big money at his disposal early on.
I'd still be a poor bastard till 60 if I kept following his method, just due to starting capital. I was lucky enough to realize a while back.
Click to expand...

I don't know what his method really is. I mean I can guess it from his and Graham's writing, but can't be sure.

But from what I gathered, it boils down to understanding the business you're investing in. Know its earning power. Don't overpay.

I don't think I've ever known everything there is to know about any of my investment. I just know "enough".. .I guess that's the same as what you mean by understanding what the company is trying to achieve, its general operations etc.

Knowing enough and putting a margin of safety on top seem to work well in most cases. But of course businesses rarely sell for "reasonable" when they have most things going for it. Guess that's where being patience (and lucky) comes into play.


Yea, I've missed out on a fair number of opportunities sticking too closely to the quality at a fair price approach.

The market do get crazy and as you say, if we're in on it early enough we might ride it to a fortune. Problem with that though, is luck or being early are often in hindsight.

Having a small capital base, I think it's safer, or at least for me anyway... to play it safe and wait for opportunities that's quite obvious. The wait could take a long time and money sitting around isn't a good use of it... but that's better than having it sitting in someone else's account though.

I do speculate... trying to get rich faster a bit. Doing intelligent due diligence and risk capital where the upside could be life-changing. Let's just say that I'll most likely to run out of speculative cash for quite a while on that bet :D
 
skyQuake said:
Thats actually an interesting question. Which ones the bigger bubble?
Click to expand...

Depends.

I think the OZ property market is currently valued at some $5.5Trillion?

The world's crypto currencies I don't think is at $1T yet.

So in that context, property is bigger.

But then property is worth something... Crypto, I don' t know. Could be worth zero.
If something that's practically zero could be worth in the hundreds of billions, maybe it is a bigger bubble.

OZ property going to halve and there'll be buyers.
 
This still has legs to run, the dot com boom capped out at $6.7 trillion before the burst, crypto is currently at $700 billion. Furthermore the dot com boom being the NASDAQ was a somewhat isolated market, your average joe outside of the States wasn't putting money in but with crypto it's a global event.

moXJO said:
South korea just ban crypto trading.
Click to expand...

And this is why the crypto market is so volatile, it only took 1 misinformed article to send the market crashing. This is why I don't use stops in crypto because it can crash and recover too fast.
 
overhang said:
This still has legs to run, the dot com boom capped out at $6.7 trillion before the burst, crypto is currently at $700 billion. Furthermore the dot com boom being the NASDAQ was a somewhat isolated market, your average joe outside of the States wasn't putting money in but with crypto it's a global event.



And this is why the crypto market is so volatile, it only took 1 misinformed article to send the market crashing. This is why I don't use stops in crypto because it can crash and recover too fast.
Click to expand...

I think the misinformation is purposely done.
 
Some big swings in some of these coins today trx up 59% lend up 42%. Good trades on the smaller stuff.
Thats not a recommendation to buy these coins.
 
Imagine what cryptos will do if there is a US debt cap spending shutdown of some sort. It normally never happens but if Dems are mad enough about the tax reform being forced through and Trump in general, who knows!
 

Similar threads

DB008
Crypto USDT - US Tether
Replies
2
Views
4K
Dona Ferentes
Dona Ferentes
K
My Trading System
2 3
Replies
51
Views
19K
MRC & Co
MRC & Co
Top