Just bought 1 bitcoin for AU $32K

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bjw said..
Why did and will it rise?

FOMO I guess, no actual reason for the rise though it does follow the share market which is currently up.


Many got burnt in the last slump so will be hesitant to put funds in, but the true believers will be buying hence the rise in the bitcoin price. But, without the masses getting involved after previously getting burned, the bitcoin price may have trouble reaching previous levels.

.... the other difference is that everyone of those companies on the ASX and Dow Jones will be reporting their half year results:

showing how much they spent
showing how much they earned
showing how much they produced
showing how much their assets are worth
...and showing how much of the profits they made they will payout to the shareholders and how much they will re-invest.

From those figures people can calculate the relative value of the shares now and the value and risk of holding shares into the future.

And assess any moral or ethical issues they have with what the company does and how it does it.



Whereas Bitcoin will......?

Well nothing. Less than nothing. Totally ****-all. People are just taking a random punt that some dickhead will think that another dickhead will pay them more for nothing tomorrow than they are willing to pay a different dickhead today.

Of course the biggest dickheads are the ones that didn't get a 50% return on bitcoin in the last 3 months.

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myscreenname said..
Difference is BTC is up almost 50%, asx200 is up around 3% and dow Jones is flat in past three months.

Thing is right.... anyone can do anything with hindsight.

Should we not be comparing bitcoin to the asx from when you spent the $32k ?

I mean, otherwise anyone can pick any two dates and prove just about anything.

So:
14 Jun 22 to today : Bitcoin $32K to $34.7k= up 8%
14 Jun 22 to today : ASX all ords 6881.20 to 7552.20 = up 9.8%

You'd have also got two dividend payouts on the shares.

And you'd have most likely lost all the bitcoin when one of those "decentralized" (ha-ha) exchanges went belly-up

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Carantoc said..
Thing is right.... anyone can do anything with hindsight.

Three months ago James laughed at me for suggesting that it was a good buying opportunity. I think my chart proves I was right, just like I was when I said to buy Tesla shares last month.

But, yeah. You're the financial wizard.

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kk said..
I work at a pub with a TAB.

Most gamblers crow about thier success!

If I didn't sell most of the crypto I bought in 2016 I'd probably still be working.

It's a good thing you are doing it though, gamblers and drunks need people like you on minimum wage to listen and serve them.

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psychojoe said..
Young girl in Perth got kissed to death by wildlife while jetskiing. Sad for those who knew her but no loss to the watersports community. Enjoy your jetski!

Agree Uncle Bob.... I thought the same thing.

This is either a poorly worded comment or came from a $hit human.

Watch bitcoin soar against the $AU when China begins to annex Taiwan.

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Buster fin said..

myscreenname said..
Watch bitcoin soar against the $AU when China begins to annex Taiwan.

Hilarious! Do you do stand up somewhere?

Buster come on man, you don't get it do ya. I'm a convert. I know all about it.

When China starts to blockade Taiwan where do you think all the bitcoins will come from hey ?.

I mean Taiwan exports all those computer chips and TVs and toasters and stuff, probably manufactures bitcoin as well.

How you gonna get them out past a Chinese coast guard vessel armed with several thousand nukes ?


What people don't realize is just how many bitcoins there are on your average sized iPhone circuit board or you need to make ya pop-up toaster pop-up.

I mean bitcoins are practically the building blocks of the world's most desired consumer knick-knacks.

When Timmy can't get his new 32 foot plasma you know there's gonna be trouble in the street. They'll be out fighting over those bitcoins that haven't degraded, breaking into houses and stealing them, mugging old ladies in the alleyway just for a couple.

Until those enterprising Bolivians get their shism together and start stamping the bitcoins to fill the manufacturing void the value is gonna climb, climb, climb.

Get on it.

Nothing lasts for ever

Ummm......, unregulated bitcoin looks good if this is what regulation looks like :

Headline on The West Australian newspaper website this afternoon

Is it myscreenname ?

I bet it is.

He's been toying with us all.

Bought one bitcoin eh ?

I bet he bought a few more than that....

www.news.com.au/finance/superannuation/gina-rinehart-breaks-silence-on-554m-super-scandal/news-story/8e035c72f402e8a65218e972449c3c2f

So we know that you and Flysurfer are the same person, could it be suggested you and Uncle bob are also the same person. Why do you care if he/she gets and apology?

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Flying Dutchman said..

I seem to remember you rubbishing the lab leak theory. That view isn't aging well.

You thought wrong. It's in the past, I don't dwell on the pandemic - I did well out of it. Maybe if I didn't I'd be banging on about it in every discussion too.