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#992 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Location: In Front of a Monitor
Posts: 1,640
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Has the dust settled yet......
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2004 Mercury Silver Falcon XR6T - 5 Speed 2017 Platinum White Mustang GT - 6 Speed 2022 Blue Thai-Special for Daily Duties - Auto |
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#993 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,854
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Surely this will push tangible assets up… It’s starting to “feel” like panic is overruling sense.
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#994 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Ahhh...the pyramid is starting to wobble....
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#996 | ||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,687
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Currently 30k for a Bitcoin, hardly a wobble. 2016 I bought them at $460AUD each, property has not even come close to those kind of returns in the last 6 years.
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Proud owner of the ugliest Ford ever made |
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#997 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Location: In Front of a Monitor
Posts: 1,640
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2004 Mercury Silver Falcon XR6T - 5 Speed 2017 Platinum White Mustang GT - 6 Speed 2022 Blue Thai-Special for Daily Duties - Auto |
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#998 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
So...bought at $460 and now at $30k. Shouldn't you be on the Lamborghini forums instead of Ford Forums? Everyone's a winner.... Where does the profit come from? From new suckers who pay $30k for them...and an ever increasing number of new suckers needed to keep fuelling it. Would love to hear from those that bought at $60k and now worth $30k.. ![]()
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#999 | ||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: W.A.
Posts: 1,713
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Feels a bit like Poseidon. There were some people who made a lot of money out of that, but there were also some who bought at the highest share price as well or held on too long...
https://www.managementstudyguide.com...ock-market.htm Whatever you do, don't over-commit!
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His: 2019 Ford Focus SA Trend with Driver Assist Pack: 1.5 Ecoboost 3-cylinder (yes, 3 cylinders!), 8-speed automatic in Ruby Red. ![]() Hers: 2020 Ford Puma JK: 1.0 Ecoboost 3-cylinder, 7-speed DCT in Frozen White. |
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#1000 | |||
FF.Com.Au Hardcore
Join Date: Aug 2006
Location: Newcastle
Posts: 1,061
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Quote:
![]() I jumped in when everything was near the peak and everyone had stories of being overnight millionaires.. but because I'm sensible or cheap I only threw in $300, took some small gains, and now my $300 is worth $50 ![]() meh, it was nice to dream but I was never going to be prepared to risk enough to gain big
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-Tim |
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#1001 | ||||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,687
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Quote:
My stories about Crypto are on this very thread if you care to read them. I sold most of mine 4 years ago and made a very tidy profit that I won’t go into. My wife’s uncle bought 2500 when they were $1. He sold 90% of them when BTC hit $18,000. They paid a looooot of tax but they now own a 100 acre mansion on the beach in the mid north coast. They were middle income earners before this. Crypto, like shares in my eyes is gambling. Put in what you can afford to lose. No one ever became rich without taking some sort of risk, how much risk is up to you. Also, I’m not a huge Crypto die hard, it’s just one of my many investment strategies. Quote:
Another coin i have a small amount in is down 96% on what I paid. I’ll just leave it there until it’s completely worthless. Also, didn’t invest more than you could afford, if you lose that $300 you just chalk it up as experience.
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Proud owner of the ugliest Ford ever made Last edited by fordomatic; 17-06-2022 at 09:55 AM. |
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#1002 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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How is bitcoin going now...
![]() Bitcoin has now lost more than 70% of its value since reaching its peak. In 2021, Bitcoin peaked at more than $68,000. Ethereum, another widely followed cryptocurrency that has been sliding in recent weeks, took a similar tumble Saturday. Ethereum-backed ether is down 74%. Ether breached $1,000 and dropped almost 19% to $891, the lowest since January 2021. The two bellwethers of the crypto market are both down more than 70% from all-time highs set in early November. Needs more new suckers..
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#1003 | |||
Donating Member
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Location: Checking out soft furnishings....
Posts: 8,687
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Quote:
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Proud owner of the ugliest Ford ever made |
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#1004 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Quote:
Im dirty I didnt throw in some money to give it a go, but I didnt/dont have the time or care to make it happen so I cant begrudge those that have. Its not different to going to the casino. I have a strong distaste for crypto as its just not tangible, its like the trump of the finance world, and like any con it is propped up by speculation and hype. When poo hits the fan what have you got at the end? Perhaps its more the principle I dont like but if your goal is to make money with no boundaries then its hard to knock. Meh
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#1005 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,854
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Even the last two days, if you traded quickly there is good profit to be taken. Not sure the heavy falls have ceased but it’s definitely rebounded a little. Given popularity of Bitcoin on the darkweb, I think it will be around for a while…
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#1006 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Location: In Front of a Monitor
Posts: 1,640
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I fear the worst is still not over.
I think Bitcoin will end up somewhere around 13K at some point in the near future. Even then i would still not be worried if I had of bought it at 60k. The same cycle just keeps repeating over and over. Guess where we are right now. ![]()
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2004 Mercury Silver Falcon XR6T - 5 Speed 2017 Platinum White Mustang GT - 6 Speed 2022 Blue Thai-Special for Daily Duties - Auto |
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#1007 | ||
I am Groot
![]() Join Date: Dec 2007
Location: Burnett Heads, Qld
Posts: 6,840
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.. ![]() ![]() ![]() ![]() "Those were the days when the cars were cars, they weren't built out of an Ikea pack like they are now and clothed in plastic; they were real cars." John Bowe |
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#1008 | |||
BANNED
Join Date: Jul 2012
Posts: 2,886
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Quote:
nah...I will go all in and say less than $1k ![]()
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#1009 | ||
Guest
Join Date: Aug 2018
Posts: 1,892
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#1011 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Location: In Front of a Monitor
Posts: 1,640
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Watching NRL or AFL all you see are the Crypto Exchanges advertising.
You no longer need a rocket science degree to buy and invest. Yes it is a Bear Market and yes it will take a while to turn. But when it does turn each cycle is bigger than the one before. All of the rubbish / scam coins will be flushed away. With the graphic I posted above we are probably not at the bottom of despair just yet, but that is where you want to be when buying.
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#1012 | ||
BANNED
Join Date: Jul 2012
Posts: 2,886
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It is an intangible currency, worse than FIAT, at least I can hold paper money even when it is worthless, not just a bunch of hexadecimal numbers.
I say again, it requires an ever increasing number of new entrants to increase or maintain it's value. That is the pure definition of a Ponzi scheme.
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#1013 | |||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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Quote:
Smart thing to do is hold on to what you have, prices are low now (let's call it a crypto sale ![]() I see so many buying high and selling low. I have a few I bought for $30 now worth $5, so I bought more at $5, and just sit back and wait, they are worth $10 now and I am even, if they go back to $30 (I am certain they will) I am up a fair bit. USD dropped from $1 to $0.01, bought $100 worth as soon as it hit $0.01, jumped to 0.13 two days later instant $1300. ![]()
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave Last edited by XB GS 351 Coupe; 30-06-2022 at 12:58 AM. |
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#1014 | |||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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Quote:
If you buy a house, no money actually changes hands, it's simply numbers on your computer screen. if you go to the bank to draw out your money (assuming you have a reasonable amount in the bank) they will not actually be able to give you the money as they do not have it, it does. not exist. Try it, walk into your local branch and ask to withdraw $20,000 from your account. The only value your money has is what we all agree it has and it gets worth less by the day. If you had 100K in the bank 12 month ago you could have bought 80,000 litres of petrol, today that money won't even buy you 50,000 litres, so your money is now worth less than it was 12 months ago, same scenario with your wages. There is not enough money in Australia to pay out all the mortgages and outstanding loans ever. Look at this scenarios, imagine there is $100 in the world, now I lend you $100, but I want $110 in return after interest. Where will the extra $10 come from that does not exist?? It's impossible to ever repay all debt unless we print more worthless money. The reasons I have outlined above is why governments are pushing for a cashless society, makes it easier to deceive everyone and just write bigger numbers on ledgers as required.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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#1015 | ||||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,046
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Quote:
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#1016 | |||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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Quote:
The exact opposite is true. Why would a Big Mac cost 50K if there is only 20K on the planet? The only reason a Big Mac would increase in price is because more money is in circulation making money worth less. Why do you think everything gets more and more expensive? Because we keep printing more money and the more money is in circulation the less it is worth and there for you have to hand over more of it to purchase the same thing. More money in circulation is what drives inflation up. If you have 10K in the bank and if the government creates more money your 10K is now worth less, which is exactly what is happening at the moment. Labour government puts up wages for minimum wage workers, where does the extra money come from? As a result business owners have to put up prices to cover the extra wages (cup of coffee from $4.50 to $6) now is anyone actually better off?? Prices were driven up by increased wages, increased wages are now spend because everything costs more. Now that everything costs more your existing savings in the bank have less buying power than they did last week and we are back to square one. No one is actually better off, but some are worse off such as workers on fixed wages or businesses who need to absorb prices increases as their customers would leave if the prices went up more. More money in circulation makes it less valuable, hence why rocks and dirt are cheap and gold and diamonds are expensive. So you would be happy not having cash?? So you don't mind not being able to pay for stuff when the internet or mobile service goes down?You are happy with the ability for government to turn off your money any time they feel like it (think Canadian truckers in the trucker protest who had their accounts frozen by their Government until they complied)? You are happy not being able to give your kids or grand kids some pocket money? etc etc the list is endless.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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#1017 | ||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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Can we now get back on topic and leave economics for another thread?
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Dying at your job is natures way of saying that you're in the wrong line of work.
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#1018 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,046
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More a case of typing while on the phone to someone else and brain in lala land :P
Agree, its the opposite. But I'm curious what the benefit of a constantly deflating price is. At some point, we start paying fractions of a cent for things. At least with an increasing money supply, provided its tied to productivity, the prices of stuff stays relatively static. A deflating currency drives saving, it doesnt drive consumption. The latter is particularly bad for economies. Stable value is one of the requirements of a currency. Its why crypto is purely of value to speculators, and has no real utility right now as a form of currency. How would the likes of Qantas negotiate aviation fuel contracts for the next 3 years if the currency was constantly changing? Quote:
Do you keep all your cash as cash? You wont go far on a few hundred if the government seize your accounts either. |
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#1019 | ||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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Which one was that?
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Dying at your job is natures way of saying that you're in the wrong line of work.
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#1020 | ||
FF.Com.Au Hardcore
Join Date: Oct 2010
Location: Mid North Coast
Posts: 6,442
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I you keep reading my post I tell you further down. USD.
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The Daily Driver : '98 EL Falcon, 5 Speed , 3.45 lsd The Week End Bruiser : FPV BF GT 40th Anniversary, 6 Speed Manual, 6/4 Brembo and lots of Herrod goodies Project 1 : '75 XB GS 351 Ute, Toploader, 9" with 3.5's Project 2 : '74 XB GS Big Block Coupe, Toploader, 9" with 4.11's In Storage : '74 XB GS 351 Fairmont Sedan XB Falcon Owners Group Mike's Man Cave |
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