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Off Topic Bitcoin.

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Post  Nightjar Tue Jul 09, 2019 6:42 pm

ATO are going to have a field day..........................
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Post  Minermike Tue Jul 09, 2019 9:19 pm

My 80 year old mate has been playing the stock market and doing well . Reckons he has to pay the ATO an extra $50k......
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Post  granite2 Fri Jul 12, 2019 5:47 pm

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.
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Post  Guest Sat Jul 13, 2019 10:47 pm

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


Last edited by dig24ct on Sun Jul 14, 2019 8:45 am; edited 1 time in total (Reason for editing : Typo)

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Post  Nightjar Sun Jul 14, 2019 11:09 am

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/









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Post  elrodeo Sun Jul 14, 2019 8:17 pm

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 .
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Post  lam Wed Jul 31, 2019 7:12 pm

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

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Post  lam Fri Aug 23, 2019 2:14 am

"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"

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Post  Minermike Fri Aug 30, 2019 2:14 pm

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 .
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Post  Minermike Sun Mar 14, 2021 11:11 am

Bitcoin going up .
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Post  granite2 Sun Mar 14, 2021 11:20 am

Then down again soon. Off   Topic  Bitcoin.  - Page 10 1f603 Buying bitcoin is a bit like buying the wind except the wind actually does some good.

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Post  Minermike Sun Mar 14, 2021 11:25 am

The windmills only make power when the wind is blowing . The solar panels only make power when the sun is out .
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Post  adrian ss Sun Mar 14, 2021 5:22 pm

I reckon that if Bitcoin is legal the pyramid selling/buying is no different. It is all a bit hit and miss and whoever gets in on the ground floor wins. Very Happy
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Post  Minermike Sun Mar 14, 2021 9:40 pm

You don't need to get on the ground floor , you can still get on the mid floor and win .
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Post  Minermike Wed Apr 14, 2021 3:03 pm

Check on the current price of Bitcoin . Did you miss out ? It is never too late to buy some . JMO .
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Post  deutran Wed Apr 14, 2021 9:31 pm

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.
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Post  Minermike Wed Apr 14, 2021 9:42 pm

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
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Post  granite2 Fri Apr 16, 2021 5:10 pm

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.
Smile
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Post  Minermike Fri Apr 16, 2021 5:32 pm

Sorry , they will not crash . Not now .
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Post  granite2 Fri Apr 16, 2021 6:12 pm

But if it doesn't our currency will.
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Post  deutran Fri Apr 16, 2021 9:00 pm

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.
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Post  Minermike Fri Apr 16, 2021 9:55 pm

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 .
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Post  adrian ss Sat Apr 17, 2021 7:26 am

deutran wrote: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.

Maybe the problem with crypto is that it can vanish in split second. What is backing it? Is it gold, diamonds, silver, platinum, EVs, Wind farms, Coal, oil. What??
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Post  butch Sat Apr 17, 2021 10:37 am

Twiggy and the ABC. What a Face
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Post  Minermike Sat Apr 17, 2021 11:21 am

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 .
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Post  adrian ss Sat Apr 17, 2021 4:26 pm

Who is Elon Musk.
https://www.capitalism.com/elon-musk-net-worth/

It is interesting how this bloke can be worth so much when Not many Tesla cars have been sold world wide and Space X internet is not operational yet and the Mars colonization project can do nothing but fail.
Still, he seems to have done ok elsewhere up till now aye.
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Post  Minermike Sat Apr 17, 2021 4:53 pm

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 .
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Post  adrian ss Sat Apr 17, 2021 5:33 pm

500,000 last year. Not enough to make Elon rich.
https://www.carsales.com.au/editorial/details/tesla-model-3-australian-pricing-revealed-118772/

Look great go good but the anything up to 12 hour recharge is a pain in the butt.
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Post  Minermike Sat Apr 17, 2021 9:37 pm

I thought he sold a few batteries to South Australia ?
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Post  Minermike Sat Apr 17, 2021 9:56 pm

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