Off Topic Bitcoin.

ATO are going to have a field day..........................

My 80 year old mate has been playing the stock market and doing well . Reckons he has to pay the ATO an extra $50k......

I would never push Bitcoin or any other crypto rubbish. It's a bit like a Ponzi scheme. If others take your enthusiastic advice and lose money you can lose more than friends. Bitcoin Will crash one day because it creates nothing tangible and when it does it will not be pretty.

granite2 wrote:I would never push Bitcoin or any other crypto rubbish. It's a bit like a Ponzi scheme. If others take your enthusiastic advice and lose money you can lose more than friends. Bitcoin Will crash one day because it creates nothing tangible and when it does it will not be pretty.

With you on this one Jim.The banks are panicking and urging the Government to throw more into infrastructure.Construction is slowing at a dramatic rate and corporations are using robotics and technology to increase their bottom line and employ less.The young are getting degrees for jobs that wont exist.A good example, Banks in Maryborough vic have been pushing customers to go online.The Westpac will close soon.Robots will soon stack the shelves as Woolworths and flip burgers at Macdonalds.There' be no such thing a truck driver in the future, same applies to most forms of transport.So we have a majority of the population trapped in huge  long term  loans with corporations using every means possible to cut their bottom line.Dont wish to be a profit of doom, but if this isnt a recipe for disaster what is.The Titanic is all ahead full, pity about the lifeboats.Crypto currencies will be first to feel the chill of the cold water.Those in the know will be first in the lifeboats
Cheers Dig

A good example of how deceptive and misleading this business is as more and more are drawn into this.


https://www.minderoo.com.au/minderoo-foundation/news/statement-on-andrew-forrest-bitcoin-scam/

Just watch especially from around the 34min mark and you'll get an idea of where the institutional investors/traders opinions lay re cryptocurrency.
BTC in my opinion will never be a form of currency bt a store of value, hell yes.

https://www.youtube.com/watch?v=Gks7AM9fXjI

I'm not a fan of the interviewer but Raoul Pal is no muppet .

It will be a good advice, if you would have seen it in the 2017!

"Hola, MinerMike. In your recent posts I found you going to invest more in BTC and sell your tractor.
Tell, if it worked? I've just wondering did you get any profit out of it, that could be seen.

On blog I read, they say BTC drops down, and there is some kind of sell wave going on.
But i'd say - hold, since it will eventualy jump back into the stratosphere.

Here you can read about it all by yourself, expert analysis of things https://fumgo.com/help-center/blog/the-wave-of-sales-may-last"

I did sell my excavator a few years ago but had to pay off other bills that were mounting up . I have not bought / sold any crypto for some time . Check out Wagerr , could be a good gambling plat form . Cheap price at the moment , was US$1 at one time .

Bitcoin going up .

Then down again soon. Buying bitcoin is a bit like buying the wind except the wind actually does some good.

The windmills only make power when the wind is blowing . The solar panels only make power when the sun is out .

You don't need to get on the ground floor , you can still get on the mid floor and win .

Check on the current price of Bitcoin . Did you miss out ? It is never too late to buy some . JMO .

Its been estimated you only need 0.01Bitcoin to be in the top 13% wealthiest in the world in 10 years.This seems to be a reasonable assumption given that it is already over 3/4 sold.

Don't think I will be around in 10 years time . Look at XRP Ripple going up . I have been holding some since Jan. 2018

Butcoin is a huge con. If our current currency is replaced by bitcoin or similar we will be at the mercy of the government and the ATO. Then you see new currencies coming on-line every week with nothing underpinning them except their so called face value.

China is now one of the biggest players and if they can get what they want, domination of the world finances through their new E-currency. These new fangled ways of using something that has no actual value are a real worry to anyone who gives a few minutes thought on the subject.

You can't buy a beer with a butcoin, you can't even buy a car unless it's useless Tessla. (have a look at what a second hand Tesla is worth)What use is something you cannot hold in your hand and cannot be used to manufacture anything. Gold at least can be used for hundreds of things and you can hold it in your hand. I have always worked for my money, put it in a bank where it can be lent out to build or manufacture something. My money has the value of hard work behind it as is most people's money.

As always greed for something for nothing is running rampant, I look forward to the day bitcoin and all the others crash. I hop I'm around to see it.

Sorry , they will not crash . Not now .

But if it doesn't our currency will.

This topic began 11 May 2017 and bitcoin was $2400 its now $78000 in 4 years,thats roughly 32x the million dollar coin is not far off.

It is the US paper dollar that will crash. They are printing them against borrowed money . They have a neon sign up some where that tells how many trillions they have borrowed .

Twiggy and the ABC.

Elon Musk bought a fair chunk of Bitcoin . He has now made a good profit . It was only a very small % of his wealth . Money makes money .

His company , Tesla , bought US$1.5 billion of Bitcoin . You can buy a Tesla car with Bitcoin. Total number of Tesla cars sold ? I do not know . After US dollars and Euros , Bitcoin comes in at number 3 in currency .

I thought he sold a few batteries to South Australia ?

Musk made his money from making software . He also owned a lot of Paypal which he sold for many millions .