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Davaoeno

Bitcoin bloodbath nears dot-com crash levels as hundreds of other cryptocurrencies go to zero

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HeyMike
17 minutes ago, rep1 said:

How much would you pay for that? What's the real value?

No._6_(Violet,_Green_and_Red).jpg

Mark Rothko? Maybe $25 million? Maybe more.

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Davaoeno

cheap copy - maybe $13.99 ?  

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HeyMike
28 minutes ago, rep1 said:

How much would you pay for that? What's the real value?

No._6_(Violet,_Green_and_Red).jpg

 

Forgive me for going off topic this little bit, but I love this quote...

quote-look-it-s-my-misery-that-i-have-to-.thumb.jpg.08c8f62d61caf0f1ab58e9d81f924a8f.jpg

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Oz Jon
20 hours ago, rep1 said:

How much would you pay for that? What's the real value?

No._6_(Violet,_Green_and_Red).jpg

I'm not sure what that is - presumably a painting? - probably unique?

If so, then It's a real object which required work and talent to produce. It will still be in existence and have value even  if the bitcoin market collapses (or even explodes).

I'm no art expert, but I guess it would be valued by comparison with the established valuation of other comparable works of art.

 

ps.  Personally, I don't see any great merit in it, so I wouldn't be a buyer. I'd rather put the $13.99 towards a good bottle of wine - Lol!

Edited by Oz Jon
ps
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SkyMan
16 hours ago, rep1 said:

How much would you pay for that? What's the real value?

No._6_(Violet,_Green_and_Red).jpg

Does it come in His and Hers and is it machine washable?  Looks used though.  Maybe $3?

Edited by SkyMan
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DeedleNuts

I took about 2/3 of my money out and made a decent profit that way more than covered the original buy in, and now the 1/3 I left in is worth more than the original buy in. This is a curiously bloodless bloodbath IME.

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DeedleNuts
On 7/8/2018 at 7:05 PM, Oz Jon said:

I'm not sure what that is - presumably a painting? - probably unique?

If so, then It's a real object ....

Bitcoin was probably overvalued, but what people do sometimes forget (or never knew) is that the underlying technology has tremendous utility, and the value of the reward ('mined' coins) is what makes it work. 

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Contango
On 7/8/2018 at 2:20 PM, Oz Jon said:

From the beginning, bitcoin (and the other cryptocurrencies) were just elaborate Ponzi schemes.

There is no real value backing.

Sale price depends only on what someone else is willing to pay, unlike other securities where there is some asset or service backing which can be unemotionally and realistically valued, current value and future value.

If you are a gambler (or maybe a tax-avoider or money launderer?)  then cryptocurrency is a good vehicle.

No Ponzi of any sort - Madoff now thats was a  Ponzi in the true sense of the word, BTC was at the beginning a collection of people all looking for something, there were miners, entrepreneurs, dark webers, privacy freaks, freedom freaks, Tech and cryptology enthusiasts, Anarchists, Socialists...these were the people who had me fascinated in early 2011 when i stumbled upon Bitcoin.

The fact that there was nothing behind it was the main appeal to us all, it was the wild west and you could do anything and everything was possible, the speculators came much later..

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Ozepete
On 7/8/2018 at 2:01 PM, T.S. said:

Bitcoin Price by year...

July 8, 2018 - $6,730
July 8, 2017 - $2,571
July 8, 2016 - $666
July 8, 2015 - $270

Not a bad investment! A 250% rise in the last year alone!

Crypto currencies will be the trading medium of the future, they just have to survive the attacks from the thieving banking system that realises that Cryptic trading will destroy one of their main sources of customer gouging. 

I for one am tired of losing 3, 5 or 7% in international trades specially when they are all computer generated, and the banks hosting these transactions actually do FA!. 

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DeedleNuts
1 hour ago, Ozepete said:

Not a bad investment! A 250% rise in the last year alone!

Crypto currencies will be the trading medium of the future, they just have to survive the attacks from the thieving banking system that realises that Cryptic trading will destroy one of their main sources of customer gouging. 

I for one am tired of losing 3, 5 or 7% in international trades specially when they are all computer generated, and the banks hosting these transactions actually do FA!. 

The previously mentioned utility in blockchain and related tech is the removal of the need for a trusted 3rd party. Trusted 3rd parties of all types are predictably unenthusiastic about this aspect of the tech. 

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Davaoeno
1 hour ago, Ozepete said:

Not a bad investment! A 250% rise in the last year alone!

Well Pete, you can look at the numbers another way and see if you are still so impressed :

Dec 17, 2017     $ 19,086.64 usd

July 15, 2018     $ 6234.99 usd

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Oz Jon
5 hours ago, Ozepete said:

.....I for one am tired of losing 3, 5 or 7% in international trades specially when they are all computer generated, and the banks hosting these transactions actually do FA!. 

I guess that the lesson there, is to stop trading (buying and selling short-term where you are at a disadvantage in second-guessing the short-term market moves) and instead, invest in good companies at reasonable prices and let their good management grow your investment over time.

Plenty of good target companies available, particularly in the US markets.

Subscribe to Motley Fool <fool.com> and get some free (or better some subscription) advice - those guys are good!

That strategy has served me well over the past 20 years.

10% to 20%+ pa  readily available there, if you adopt a med/long-term time frame.

Cheers

ps.  If you keep stock for 1 year or more before selling, many countries give you a significant tax advantage on your capital gain too.

Edited by Oz Jon
ps

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JamesMusslewhite

Man I am glad I was paid in Bennie Babies.

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Oz Jon

Blockchain is a brilliant invention which will have many very useful applications over time.

It's unfortunate that it's first application was in crypto-currency, which will make a few rich at the expense of many others.

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TequilaSunset

I'm glad I just mess with my 401K funding, quite a bit safer and it's currently on a 18% clip for about a year and half with just 2 funds.

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