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Bitcoin and cryptocurrency trading thread

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“Swinging Dick” ? You were the one saying I most be jealous because of some other peoples speculate gains, I am just pointing out that I have nothing to be jealous about financially.

ok, so you admit it, these crypto coins won’t be here forever and you are just trying to make some speculative gains in the meantime, as I said there is nothing wrong with that, you just have to understand that you are gambling and treat your operation as such, the only reason I commented is because I saw that Ben was thinking of getting involved in crypto, when in other threads he has clearly laid out his goals are to invest long term for his kids, and was thinking about buying and hold crypto, I don’t believe that is wise.
 
I don’t believe anyone would commit to sell their house in crypto, because by the time 90 days settlement is up, crypto could be worth 50% or 200% of its value the day you agreed to purchase.

Thats why I am saying it’s not a real currency, they may agree to accept an amount of Bitcoin = to $x of Australian dollars on settlement date, but no one will lock in any amount of Bitcoin into future contracts.

So it operates more like a commodity than a currency, but it’s a fake commodity with no real world value or use.
 
qldfrog said:
I understand the concern yet, what is the worst which can happen?
Back to $0
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I've spent my entire life in pursuit of helping others
My posts in the "Dump it here" thread is along those veins. Trading is dangerous, sometimes positions are levered & other times money is borrowed. Those just starting out maybe unaware of the danger of trading cryptocurrencies. Trading crypto is best left to those who have the means & experience in handling speculative risk.

Trading bitcoin
The mysterious world of cryptocurrencies is exciting at the moment for some - but for those without experience, trading these coins will eventually end in tears.

Highlighting the dangers of trading cryptos
Trading cryptocurrencies is a punt, it's a gamble, it's volatility, it's unstable. If you are aware of the heightened risk of trading crypto & still decide to trade, well that's called an informed decision & not one I would agree with.

Skate.
 
Pfft skate. I've made 50% return literally buying the dip one day and flogging on the rebound on the next.

I might have also lost 50% buying RIOT at $40 and had to rebuy in the dips to cover my losses


You're missing out dude!
 
I'm just shtposting and getting a rise. Don't worry about it.
 
Agreed that its dangerous if you don't know the risks. It's been highlighted throughout the thread though.
 
over9k said:
Pfft skate. I've made 50% return literally buying the dip one day and flogging on the rebound on the next.
You're missing out dude!
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Skate said:
Trading crypto is best left to those who have the means & experience in handling speculative risk.
Click to expand...
Skate said:
If you are aware of the heightened risk of trading crypto & still decide to trade, well that's called an informed decision & not one I would agree with.
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I'm just saying
Some traders have a clear concept of the differences between trading & speculation. Knowing the market price & underlying value places you in a position to be profitable at this game. Gambling is not one of them. Russian roulette comes to mind.

The value of cryptocurrencies
The valuation of crypto is an illusion built on the enthusiasm of traders. I'm in total agreeance if you are well informed & know the risk - trade it by all means. I believe those trading cryptocurrencies have freedom from effort, which is certainly appealing for many. Other forms of trading require skill & effort for better than average returns. Those are the traders my comments are directed to.

moXJO said:
I'm just shitposting and getting a rise. Don't worry about it.
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Fair enough, it certainly got me to make comments outside of the "Dump it here" thread, well done.

Skate.
 
Indeed, and you do stress it enough in dump it.
And indeed,you are right, i am sure some naive people will get burn badly, and some cryptos are just scams .as are some shares
I am just a bit surprised that you inherently consider cryptos differently to shares or fiat currency.
The key difference IMHO is speed: crypto moves are harsh and very fast .so the beauty for knowledgeable traders( i do not belong there).
But overall, be it shares, fiat currency or even RE ( for a part only), i am afraid we are are all playing in a giant ponzi scheme, with greed, gear and manipulation..and i do not especially trust more my or other governments .currencies..than Goldman for shares or the so called whales for cryptos.
If cryptos dramas could raise awareness to the parallel, it would be a very beneficial. But it clearly does not .
I will shut up with cryptos, not involved or fanatical enough.
tread with care?
And great to see some civil discussion: once again ASF is mostly a great community
 
Skate said:
Fair enough, it certainly got me to make comments outside of the "Dump it here" thread, well done.

Skate.
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It's funny in the sense that it gets a pile on in discussion. You can talk shop all day, but kick in a bit of sledging if you want to light a conversation on fire. I'm a bit of an ahole so I play to my skill set as well.

That and discussion round here have been rather bland lately.
 
Moxy you haven't even come close to my sh!tposting levels. I haven't seen one proper degen trade from you yet.
 
over9k said:
Moxy you haven't even come close to my sh!tposting levels. I haven't seen one proper degen trade from you yet.
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I try to "high-class" it on here or I literally drive away posters.
I'm not to bad.
I feel more comfortable sht talking amongst the anons though.
 
Pump stories appearing around the place. They are usually themed as a "pay a few hundred, earn millions" type of slant.

Woman blows $550,000 of bitcoin on sushi

A tech writer has revealed how she blew bitcoin now worth almost $550,000 on a sushi dinner for strangers.
www.news.com.au
 
Oh there's a worse one than that. Way back in like 2009-2010 or so when blockchain/bitcoin was just becoming a thing there was a guy that ordered a pizza with his bitcoin just to prove that you could do it/that yes, this stuff is real currency that can be used to buy things etc etc and it was the equivalent of like 250 million in today's money.

I'm pretty confident the youtube video is actually still up, though the channel is dead (which I'm not surprised by, how could you live with yourself?). I'll see if I can find it.
 
My friend was in the US at the time and was doing the same thing. He had mined a bunch of them and didn't think it had the legs to last. Spent what ended

I remember buying at $40 and selling around $180. It probably will go to a million dollars so I can cry more.
 
There's also hundreds of millions in ooooold bitcoin wallets that people can't remember their passwords for. They just left it all alone/forgot about it thinking it had fizzled out, nek minnut...
 
over9k said:
There's also hundreds of millions in ooooold bitcoin wallets that people can't remember their passwords for. They just left it all alone/forgot about it thinking it had fizzled out, nek minnut...
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Apologies if my previous comments were taken as an offence.

ASF is a great and robust discussion forum on these type of topics.

It does seem that those that make comments. including myself, ‘have been round the block a few times’. ‘We’ are not beginners in our journey of investing.

I dont hate crypto, honestly, do I feel disappointed to have missed out on the gains I the last 10 years, not really.

What concerns me is the exceptionally low level of financial literacy of the Milennials, combined with the sp, and the constant commentary of it’s different this time, just buy crypto and you will make millions’.

I hate to see people, less educated, sucked in to something that really is unproven. Yes buying shares you can loose everything, true, but diversified over the last 20/30/40/50 years ones gains are whet ? 9% or so.

yes crypto is 2000% over what 2,3,4 years ?? But you have to be secure in your emotions. I know of few 20/30 year olds who have a strong EQ.

I just don’t like seeing people burnt (re. the RC)

GG
 
I struggle with crytpo myself,

A once in a generation phenomenon reminiscent of the tech wreck, tulipomania, south sea, us housing , excellent vehicle for those folk that know how to ride it.

After listening to one of the true believers me personally looking at backspreading microstrategy or maybe riot, I'll see how it plays out tonight..
 
Preaching to the choir gunner. I am no fan of my generation.
 
This generation seems to group in numbers. Just look at gamestop and amc. Somehow they fought against the instos and held it up. They learn on the run. Though they seem like kamikaze investors, willing to put everything on the line or blow up.
Personally I love em.
 
https://www.brisbanetimes.com.au/wo...olonial-pipeline-hackers-20210608-p57yyz.html
does that mean that the FBI has enough spying thru echelon etc that even your private keys are within the US gov control..
Not good for cryptos...will not cry for the hackers, but however safe the cryptos are , if every bit of data exchanged is spied on, it means that no password is ever safe, no secret kept. crypted or not
These criminals were stupid not to move their crypto to a hard wallet but teach them well
if this news spreads, this will quickly shows how non anonymous cryptos are...
 
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