Guys Let's All Get Rich - Are You Ready?

[ZZmop]

Coinbase verification came through and ffs I was gonna buy some Friday and it boomed today.

I think this is a sign this game ain't for me.

Me at first hurdle:

View attachment 72946

Congrats man, I’ve tried getting my ID verified for the last three nights straight and yet the app still has the nerve to state “You’re almost ready to invest (complete account setup)”. Yea I was ready to invest when it was 14k dipshit exchange. I can’t see my account ever getting verified. Gonna try other exchanges tomorrow.

 

[Exodus2011]

coinbase ceo:

 

[IdealForehead]

coinbase ceo:

View attachment 72952

This thread makes so much more sense.

Macaroni is that you?

 

[tjnpdx]

I'm in, but first I wanna try the drugs you took before posting this thread.

Thread got us feeling like

OR, THE CLASSIC (AFTER READING OP'S POST):

 

[Afro_Vacancy]

My weekly investment limit on coinbase is $750, the website says that I can increase that in 26 days.

One possibility for this is that they are promoting ethical investing. They don't want people to get excited too easily and thus to lose their life savings.

Another possibility is that they learned their lesson off Facebook, and they're trying to give bitcoin a lustre of exclusivity. Restricting access makes it more desirable.

 

[Afro_Vacancy]

Though it seems like if I give them my bank account info, I can invest 10 grand weekly.

 

[Afro_Vacancy]

OK I just bought $250 of bitcoin which was my maximum, I'll have to wait longer to buy more.

Next up $250 of ehtereum, then $250 of litecoin.

I might stop at $2250 investments total (3 weeks worth of investments).

 

[JeanLucBB]

It depends on to what extend digital currencies overtake traditional ones. Newegg takes bitcoin. What if bitcoin is fast for everyone, and everyone starts taking it? Amazon, Alibaba, Walmart, etc? At least initially for online purchases.

The idea is that bitcoin could become a global currency that renders all the other currencies unnecessary.

Based again on this analysis:

At $47,400, those absurdities of the system will begin to become self evident, not just in relative asset-class value terms but also in total energy-cost terms to support the system. For example, as Zimmermann noted at the end of November,

• As a thought, experiment 21 million Bitcoins at $50,000 each would mean a total market cap of $1 trillion
• The total value of all the world’s coins and banknotes is estimated at $7.6 trillion*
• At $1275 per ounce the total value of all the world’s gold is $7.7 trillion*
• The total value of the world’s money ( Broad Money ) is est. at $90.4 trillion*

In short, once people start having to go without just for the planet to keep maintaining this most excessive and exuberant of luxury asset classes, the obvious absurdity of the creation will cause the bow to break. How that realisation comes about nobody can be sure of at this point. But the two most worrying paths come via an inflationary surge brought on by the hypothetical purchasing power imparted on the global system by all those freshly minted billionaires, or — more likely — via the liquidity constraints which will be imposed upon the rest of the system through having to accommodate bitcoin risk.

https://ftalphaville.ft.com/2017/12...when-bitcoins-market-cap-overtakes-world-gdp/​

$22 trillion for BTC would mean it has reached 24% of the current global monetary system. I think that's plausible.

I fully expect crypto currency to represent at least 10-20% of the global financial system within our lifetime. And bitcoin will likely remain the gold standard, accountable for at least 70% of the crypto marketplace (unless it can't keep up, eg. with speed of transfers).

This is just my wild speculation, but there is definitely an appeal to having a global universal currency. I think a lot of people would like that idea and it makes a degree of sense in a global marketplace. Currently everything is standardized to USD. One day that may change.

I would never sell all of it and agree the potential cap is beyond 100k, but there is a point of risk/reward where it is better to sell and look to traditional asset classes than remain so heavily in crypto. If it was at the 100k level splitting with my parents I could afford a mortgage and many years ahead of payments without having to work a job and with a lot left over. Number one priority is getting a property better than 95% of the population, but like I said I won't sell the whole stash.

 

[Rudiger]

I was watching LTC go up so moved more BTC then thought f*** it I'm sticking with BTC and got everything in there pretty much.

I'm losing a little just on exchanges such a noob lol. I'm breaking even.

I am treating what should be long term investments like slot machines.

 

[IdealForehead]

I would never sell all of it and agree the potential cap is beyond 100k, but there is a point of risk/reward where it is better to sell and look to traditional asset classes than remain so heavily in crypto. If it was at the 100k level splitting with my parents I could afford a mortgage and many years ahead of payments without having to work a job and with a lot left over. Number one priority is getting a property better than 95% of the population, but like I said I won't sell the whole stash.

What's the price point you're looking at for a house and what sort of place can it buy you where you are looking?

 

[Afro_Vacancy]

I was watching LTC go up so moved more BTC then thought f*** it I'm sticking with BTC and got everything in there pretty much.

I'm losing a little just on exchanges such a noob lol. I'm breaking even.

I am treating what should be long term investments like slot machines.

All your savings or all of your crypto savings?

 

[IdealForehead]

All your savings or all of your crypto savings?

His mind, his body, his soul ... EVERYTHING

 

[JeanLucBB]

Anyone invested in sheseido?
nothing like BTC, ut could have almost doubled your money in a year. Much much more if invested a few years ago.

@JeanLucBB : any stock market/fundamental research you have on the Company?
BTW, dude when is that youtube channel coming?

Hopefully I can get something done by the end of the week.

I pretty much only look at ASX or US stocks.

 

[JeanLucBB]

What's the price point you're looking at for a house and what sort of place can it buy you where you are looking?

Something in Melbourne, will depend on the exact circumstances but in the 700-1.2 million AUD range. Plan to use it as a rental for a few years. I really should get a part time job right now so I have some steady income.

 

[Afro_Vacancy]

Something in Melbourne, will depend on the exact circumstances but in the 700-1.2 million AUD range. Plan to use it as a rental for a few years. I really should get a part time job right now so I have some steady income.

I still think that incorporating your savings into the private equity firm Incel Capital Management is the right call.

Tell people that you're an investment banker.

 

[JeanLucBB]

How are the houses there for that money? The thing with houses is if you buy in a hot neighborhood, even for that much you won't get very big or fancy. And if you buy "out of the way", then you're out of the way. What's your bigger priority? Seems like you want a bigger house and wouldn't mind driving.

The other thing to keep in mind with houses is they get empty and lonely if they're too big unless you're planning to fill them with people (wife, children, etc). My happiest house is my current one which is a small bungalow. Cost me at the upper range of what you're looking at due to the neighborhood. But I love the fact that it's so small and cozy.

When I lived alone in bigger houses (renting), I found they felt entirely vacant and I felt less secure in them. I would always think "someone could break in upstairs/downstairs right now and I wouldn't even realize it". And the space was just wasted. I had one bedroom in my previous house just for an ironing board. Another bedroom just had a desk with soldering equipment and circuit boards. When you're paying heating/electric too it feels wasteful and pointless.

I think it's something people don't think about. Most people just want a "big house" but a big house isn't always better. I lived in a 1 bedroom apartment in university and I loved that apartment. I have only fond memories of being there. My parents currently have a really large house and it feels cavernous and hollow to me. I wouldn't want to live there.

I would just try to think as much as you can in planning about what you really want and what will make you happy. Not just what will look most impressive to other people.

No big deal though either way. Worse case scenario - if you don't like the house you can always sell. The risk of flipping houses in real estate is much lower.

Smaller house/townhouse in a top end suburb fairly close to CBD. Looking at newer places that like you mentioned are comfortable and cozy, not interested in a significant garden either. A garage would be nice but a huge amount of properties in Melb don't have one.

A few nice mini 1 bedroom places around the 700k mark and that price would be easier to manage, but I would like the option of renting a room out.

 

[Afro_Vacancy]

One thing I liked about newer properties in Australia was the lack of bathtubs. I take my showers standing up, and I hate cleaning bathtubs. Only having a shower was nice.

This wasn't due to poverty or anything like that. Australia recently came out of a 12-year drought, so a lot of newer apartments simply did not have bathtubs.

 

[Rudiger]

All your savings or all of your crypto savings?

Lol just what I could put in on 2 apps. Total of 750 euro right now.

 

[Rudiger]

OK I just bought $250 of bitcoin which was my maximum, I'll have to wait longer to buy more.

Next up $250 of ehtereum, then $250 of litecoin.

I might stop at $2250 investments total (3 weeks worth of investments).

I should point out if I continued my initial investment of roughly $250 for even 2 hours after I noticed a dip, I'd have lost over $100 just like that.

It was admittedly risky in the first place after the spike, and I started testing the waters with just $50, noticed it was still growing and lumped more on. It wasn't rocket science I just seen it going up and down in minutes and thought, f*** this, even BTC is stable in comparison.

It's all volatile, and as far as noobs are concerned completely random. We can lose half our money while having a nap. So I wouldn't just throw on even spreads everywhere for the sake of it, but then again I have not a clue what you should actually do.

Real talk.

 

[JeanLucBB]

I should point out if I continued my initial investment of roughly $250 for even 2 hours after I noticed a dip, I'd have lost over $100 just like that.

It was admittedly risky in the first place after the spike, and I started testing the waters with just $50, noticed it was still growing and lumped more on. It wasn't rocket science I just seen it going up and down in minutes and thought, f*** this, even BTC is stable in comparison.

It's all volatile, and as far as noobs are concerned completely random. We can lose half our money while having a nap. So I wouldn't just throw on even spreads everywhere for the sake of it, but then again I have not a clue what you should actually do.

Real talk.

Buy, HODL and chill the f*** out. Try watching a portfolio swing ten to forty thousand within 24 hours. Within a few months you'll become as zen as a brick wall.