Crypto Any lessons learnt from Crypto

Discussion in 'Other Asset Classes' started by MTR, 22nd Jun, 2022.

Join Australia's most dynamic and respected property investment community
Tags:
Thread Status:
Not open for further replies.
  1. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,786
    Location:
    My World
    Curious ??

    I never got into it cos I never understood it….and too lazy to try
     
  2. Tofubiscuit

    Tofubiscuit Well-Known Member

    Joined:
    1st Nov, 2018
    Posts:
    1,481
    Location:
    Sydney
    What ever asset, get in early before other people join. Weather you convince them or the true value of the asset is understood.

    Then be unemotional about exiting when you believe peak adoption has occurred.
     
  3. Engvester

    Engvester Active Member

    Joined:
    11th Aug, 2020
    Posts:
    27
    Location:
    Melbourne
    Had a play in 2017, watched it loose 80% of its value, diamond handed, sold out at 20% profit in feb 2021. The underlying blockchain technology will be revolutionary, speculating on tokens is just that… speculation. Just reaffirmed that property which you can add value to is king!
     
  4. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    Apparently Bitcoin has been the best performing asset ever. Fair dinks, I read it the other day.
     
    Northy85 likes this.
  5. Ouga

    Ouga Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,100
    Location:
    "Trying is the first step towards failure" Homer
    - Approach with an open mind
    - Take the long term view
    - DCA rules
    - Apportion in relation to risk profile of both you & the thing you are investing into
     
    Silverson likes this.
  6. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    7,438
    Location:
    WA
  7. Properwin

    Properwin Well-Known Member

    Joined:
    5th Feb, 2020
    Posts:
    735
    Location:
    Melbourne
    Lessons?

    Madam, this is a casino.
     
  8. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,035
    Location:
    Vaucluse, Sydney.
    Don't know much about crypto but hitting the short button sure has worked out pretty well. Whoever created the idea, gawd bless em!
     
    Redwing likes this.
  9. Jimmylt

    Jimmylt Well-Known Member

    Joined:
    29th Nov, 2016
    Posts:
    55
    Location:
    Geelong
    Don't confuse Crypto with Bitcoin.

    Crypto is a cesspool of scammers and rubbish, 99% of which will die, leaving millions of people holding bags of worthless crap.

    Bitcoin however is a brilliant mathematical technology which has the potential to change the world.

    I guess we'll see.
     
  10. Justin_Z

    Justin_Z Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    594
    Location:
    Sydney | Servicing Australia wide
    The Bipolar Disorder of the finance world.
     
    James_w and See Change like this.
  11. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    6,776
    Location:
    ....UKI nth nsw ....

    Never invested --but several i know do but to me it's a unpredictable combination sort of like a dance with 2 fields coming together and then pulling apart -one has the cash the other ?.
     
    datto likes this.
  12. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    Cotten is still alive and is on PC!
     
    willair likes this.
  13. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    6,776
    Location:
    ....UKI nth nsw ....
    Someone's bound to Cotton-On to it..
     
    craigc and datto like this.
  14. datto

    datto Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    6,675
    Location:
    Mt Druuiitt
    Another Fine Cotten?
     
    craigc and willair like this.
  15. Shogun

    Shogun Well-Known Member

    Joined:
    26th May, 2018
    Posts:
    2,866
    Location:
    Perth
    I have a lot of money invested in Beanie Babies. Is it time to cash out and buy into the Bit coin dip?
     
    Ross36 likes this.
  16. Investor1111

    Investor1111 Well-Known Member

    Joined:
    19th Aug, 2021
    Posts:
    287
    Location:
    Darwin
    Really sentiment driven, its crazy. Deposited 2k into bitcoin, eth & solana just to see fell some of the swings and see how volatile it really is. Unlike property, easy entry / exit's -> Just a click of a button away to buy and sell. More blood in the water to come following IR rises and the doom & gloom outlook on all media sources from US / Euro / AU / China. Will dedicate a small amout of funds to speculate and see how it goes in the mths to come :D
     
    BuyersAgent likes this.
  17. Foxdan

    Foxdan Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    457
    Location:
    Hills district, sydney
    The comments on here really show people have no understanding of what crypto is and what blockchain applications and web3 will solve in the future. It’s still very early days.

    i would liken buying crypto now to investing in apple / Microsoft / IBM back in the early 90s. Many IT companies went bust but the survivors are now worth a fortune.

    i expect that all future stock exchanges and individual stocks will be run on the blockchain and third parties like CommSec will be redundant as transactions can now occur without a middleman broker taking his cut and delaying the transfer of the underlying asset. Instead places like CommSec will just make the platform app to make the trading easier for the user.
     
    Gmfren likes this.
  18. Hockey Monkey

    Hockey Monkey Well-Known Member

    Joined:
    22nd Oct, 2015
    Posts:
    1,135
    Location:
    Melbourne
    You are comparing to small cap growth also known as lottery stocks which do not have a higher expected return unless you happen to pick the small number of winners

    The ASX is already working on this to replace CHESS however if successful will be a listed company using blockchain technology rather than a crypto asset
     
    TimeFlies and See Change like this.
  19. Foxdan

    Foxdan Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    457
    Location:
    Hills district, sydney
    If the asx does convert to being run on a blockchain then the individual stocks will become the crypto assets / tokens / NFTs
    Ie - BHP will become a traceable NFT / token

    converting the asx or any exchange to a blockchain solves many issues that cause delays in settlement and will bring far greater transparency to the markets.
     
  20. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    7,438
    Location:
    WA
    U.S. adds ‘Cryptoqueen’ to most-wanted list over alleged $4 billion fraud

    ‘Cryptoqueen’ joins the FBI’s list of top ten most-wanted fugitives for defrauding investors of $4 billion. The German citizen was selling OneCoin, a fake cryptocurrency.

    REWARD The FBI is offering a reward of up to $100,000 for information leading to the arrest of Ruja Ignatova.
    REMARKS Ignatovais believed to travel with armed guards and/or associates.Ignatovamay have had plastic surgery or otherwise altered her appearance.


    [​IMG]
     
    geoffw likes this.
Thread Status:
Not open for further replies.