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

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Oz Jon
10 minutes ago, TequilaSunset said:

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.

Now that's a smart way to invest (particularly if you don't want to spend much time analyzing companies and following short-term market/stock moves). Highly diversified too.

Plenty of good US funds and ETF's (exchange traded funds) available with reliable gains up over 10% pa. Some (like QQQ) up over 20% in good years.

And, in a 401K, tax advantaged.

Edited by Oz Jon
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TequilaSunset
Just now, Oz Jon said:

Now that's a smart way to invest (particularly if you don't want to spend much time following short-term market/stock moves). Highly diversified too.

Plenty of good US funds and ETF's (exchange traded funds) available with reliable gains up over 10% pa. Some (like QQQ) up over 20% in good years.

Exactly, for too long I just let it sit in a money market account (2% on avg) just out of fear. Once I studied some of the many funds available to me, and saw their 1, 3 and 5 years histories, it made things much easier to take chances. I just split it almost evenly between 2 funds now... fun to watch, I feel I am just gambling with lots of my former employers money. Sure all the money I put it in is at risk too, but this logic just helps me stay the course and not panic during some wicked swings the market can have. 

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Oz Jon
4 minutes ago, TequilaSunset said:

Exactly, for too long I just let it sit in a money market account (2% on avg) just out of fear. Once I studied some of the many funds available to me, and saw their 1, 3 and 5 years histories, it made things much easier to take chances. I just split it almost evenly between 2 funds now... fun to watch, I feel I am just gambling with lots of my former employers money. Sure all the money I put it in is at risk too, but this logic just helps me stay the course and not panic during some wicked swings the market can have. 

That's not gambling - that's smart investing!   A good choice!

ps.

Yes, the market takes some nasty hits every now and then, but in the longer view, it just keeps on rising.

If you don't need to sell in the short-term, you just ride out the dips. Time is on your side.

Edited by Oz Jon
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DeedleNuts
11 hours ago, Oz Jon said:

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.

The distributed reward of the 'coins' is the incentive that makes blockchain work. The issue is that speculation that drove the difficulty in mining through the roof, but like all such things market forces eventually prevail. 

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JamesMusslewhite

Me I am investing in lobster 'grow-out' aquaculture. Low investment, a commodity that one can tangibly hold and manage themselves, which can be turned-over every 12 months with consistent 80-140% returns; and you can literally eat your loses.

 

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Goetz1965

Lets talk again in 5 years where Coins values are...

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savarity
Lets talk again in 5 years where Coins values are...
It won't matter if a certain coin is at $1, $1000, or $100,000. Its function and utility will be the same.

Sent from my SM-G925V using Tapatalk

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Oz Jon

The end of 2018 is in sight.

Financially it hasn't been a great year

(I think I know who to thank for much of that, but let's keep US politics out of it! - Lol!)

Looking at the world's biggest financial market measured by the US NASDAQ and S&P 500 indices (most of the other world markets have followed the US market trend)

The NASDAQ is down from about 7K to 6.6k ( -8%) and the S&P500 about the same (-8%) from about 2.7K to 2.5K.

In a longer term view, that's not exceptional, Dips that size happen every few years, but in the longer term both indices (markets)  just keep on rising at 10% pa or better. Lots of good people running good businesses, providing the goods and services that people want.

Sure there are business exceptions, but on average, that's the result.

On the other hand, anyone who bought (I hesitate to say invested in) Bitcoin is looking at a dip of 15K to 4K (-74%) ...... or ignoring the early exceptional early-year peak, from about 10K to 4K,  a mere -60%!

There is probably a good  lesson to be learned here? ...  Bitcoins, etc are  products priced entirely on market sentiment! ... no substantial asset or service backing to define a real value!

Whatever,  Have a good New Year!

Cheers!

 

 

Edited by Oz Jon
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DeedleNuts

In other news, people still grow tulips. 

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Soupeod
7 hours ago, Oz Jon said:

I think I know who to thank for much of that, but let's keep US politics out of it! - Lol!)

But... you could not, could you .. ah what do we say.. ah a fake Lol!

it is caused by the USA not taking any more bullshit. Lol

 

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Dafey

So....is it a good time to buy?

On 7/16/2018 at 8:16 AM, JamesMusslewhite said:

I am investing in lobster 'grow-out' aquaculture. Low investment

I love following your business and yes...a low financial investment. However, I'd venture that you have a lot of sweat equity in your project?

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Lee

Now, now, now, where is that member who told us we would all be billionaires if we bought some? :winking0044:

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HeyMike

If I remember correctly, many people could have been sitting on a lot of money now if they invested when that member said it was going to go up in price. It was a couple hundred bucks at the time for a coin, then went to near $20,000 a coin. We all should have got in when he suggested and then sold at the 20k mark. We would all be singing... we're in the money...we're in the money... dah dah dah ah dah dah (I forget the words).

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JamesMusslewhite
3 hours ago, Dafey said:

So....is it a good time to buy?

I love following your business and yes...a low financial investment. However, I'd venture that you have a lot of sweat equity in your project?

   Only because I really need the exercise, this last year I have spent most of my time sitting on my ass in front of my computer working on voice and editing software... I will probably will be doing the same much of this year as well this upcoming year too, as I finish these remaining two Youtube videos of this series. Yes there were those times when building the platform and traps, but only because they were prototypes and it is far easier to just roll up the sleeves and jump in with both feet. This allowed the avoidance of unnecessary confusion and aggravations, while insuring it was properly done to my own satisfaction.

   I have four things working in my favor. a.) a smart dedicated wife of 33 years who is a natural businesswoman, b.) I have the understanding of aquaculture and skill-set to build and operate such a venture. c.) I am located in perhaps the best location to do such a venture and 4.) I have an excellent Filipino business partner who happens to be a respected lawyer and local politician. I have good people around me and a trusted labor force of experienced lobster growers. I also follow the 'Mark Twain' business model. He was once asked about diversification, and his response was simplistic as it was wise, ''Put all your eggs in one strong basket, then WATCH THAT BASKET!'' 

   I am skeptical of all non-tangible wealth. Stocks, crypt-coins, certificates are merely I.O.U.s for your own hard earned cash which can quickly go ethereal leaving one with sheets of paper and little recourse. Crop production and aquaculture are tangible assets backed by realty (farmland, ponds, cages, nets and associated equipment). If you lose a crop, it was speculative profit which is lost; but still a crop funded by a minimum investment. A commodity based on the largest customer base. Most ventures sell widgets which appeal to a sector of a particular market base within the whole.  Example: I do not wear a watch or jewelry, need an automobile, do not wear trendy or newest fashion; so vendors and manufacturers of such products do not profit from one such as myself. As such their quarterlies and stocks values have little to no effect on my daily life, But I like 7 plus billion other buyers of commodities love to eat three times a day, every day, for the total length of my lifespan.  

   Recovery for me is merely the replacement of stock and seed. The farm reality continues to raise in value and if there comes a time that I choose to do something else, I can sell the reality and do so. Here in the Philippines there are 100 million potential customers, projected to reach 140 million by 2040. Farmland is expected to diminish a minimum of 20% due to population expanse. One may be hard-pressed to sell that condo they purchased a few years ago, and lucky to break even on that investment. But a good piece of productive farmland makes residual profits while increasing in value, and should be far easier to sell than a dilapidating housing unit. I call it 'Dirt-coin'.

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JamesMusslewhite
5 hours ago, Lee said:

Now, now, now, where is that member who told us we would all be billionaires if we bought some? :winking0044:

Probably under a table in a fetal position repeating ''Why Me?''.

 

 

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