Cryptocurrencies
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@Tim I agree - they're talking about triangulation and peak forecasting and "5th-wave" bullshit, and it works maybe once or twice and suddenly everyone is honking down on that pipe and putting their belief in it.
Try to buy low-ish.
Try to sell high-ish.That's no different to anything else. Was talking to a mate about it on the weekend, who is a pretty smart financial cookie - he said that besides the lack of regulation in the classic sense, the fact that this is built mostly on human confidence, and the belief that a company's value is in what the share market says, crypto only differs from shares in that its fucking stupidly quick to move anywhere.
Companies are frequently over-valued on the share market. There is only so much actual money to go around - that's why stock market crashes = suicides.
Look at Tesla for a company whose market cap far exceeds their assets. Made a profit in ONE quarter BUT that doesn't scare people off.
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A fool and their money are easily parted
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@antipodean Hey! I resemble that remark
In any case, I'm still tempted to throw in another $1k while its cheap as shit, BUT that is currently stymied by fucking school fees, fucking guitar lessons, fucking dance school, chances of wife catching on ...
All Ords here down 3% this morning
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@nta said in Cryptocurrencies:
@Tim I agree - they're talking about triangulation and peak forecasting and "5th-wave" bullshit, and it works maybe once or twice and suddenly everyone is honking down on that pipe and putting their belief in it.
Try to buy low-ish.
Try to sell high-ish.That's no different to anything else. Was talking to a mate about it on the weekend, who is a pretty smart financial cookie - he said that besides the lack of regulation in the classic sense, the fact that this is built mostly on human confidence, and the belief that a company's value is in what the share market says, crypto only differs from shares in that its fucking stupidly quick to move anywhere.
Companies are frequently over-valued on the share market. There is only so much actual money to go around - that's why stock market crashes = suicides.
Look at Tesla for a company whose market cap far exceeds their assets. Made a profit in ONE quarter BUT that doesn't scare people off.
The valuation of listed companies at any point may be wildly out of line with the value of the underlying cash flows expected from holding the investment.
But unlike crypto, shares in real companies represent a proportional ownership in some underlying asset(s), which generally has/have a resale value. This provides a floor, because if a share reaches prices well below the underlying DCF of the cash flows they will generate, someone big and ugly will come and take over the company.
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Finally crypto gets the credibility it's been missing.
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Was watching one exchange yesterday - BTC poked its head back above AUD15k for the briefest of moments.
That's about a 30-35% increase on a week ago depending where you're buying/selling. Now holding steady above AUD15k.
Most of the coins I'm in have doubled since two weeks ago. Should have bought more
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There never seems to be much middle ground with crypto, eh?
Its either a lever to true freedom or a massive bubble that is a total scam
I note the guy in charge of BTC is being done for money laundering, and asking for 15BTC to help fund his defense.
That's USD$173k right now.
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@antipodean Homeland Security confiscated his phone so he can't access his accounts
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Carnage out there in crypto land - US securities are talking regulation, while their IRS starts talking taxation leading up to the April 15 deadline.
Some platforms are budding to launch during the first half of this year. Will be interesting to see if they still get any momentum once the tax man has his say.
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@nta said in Cryptocurrencies:
Carnage out there in crypto land - US securities are talking regulation, while their IRS starts talking taxation leading up to the April 15 deadline.
Some platforms are budding to launch during the first half of this year. Will be interesting to see if they still get any momentum once the tax man has his say.
I hope you pulled the pin in time to take your winnings off the table mate
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@canefan what I had in there wasn't winning, so I just left it alone.
In fact, I've picked up a little more while the prices are shithouse. That way I only risk another handful of actual dollars, and might even pick up a few more if the magic internet dollars come good
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Things have come back a little toward the good in the NTA universe of crypto: a coin called Verge (XVG) recently did a crowdfund and got to their goal after some last minute push.
The idea was raising funds to help with marketing (which, TBH, they're shit at) and then developing a new partnership.
The partnership gets announced in a week, so the market on that coin today was up about 20%. The partnership is apparently a game-changer, but even if its not, the excitement is getting people moving on this coin.
I am about 60% of the way back to evens, and if this announcement comes through and the coin takes off, I'll be in rude profit. Going to be smarter this time, take out all the cash I've invested, and then play with house money.
