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Kennel's thoughts on KryptoKurrency

Discussion in 'The Lounge' started by FreshSoulL, Jan 9, 2018.

  1. FreshSoulL

    FreshSoulL Faith

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    What are your thoughts on bitcoin etc etc?

    I'm thinking to start investing in it..

    Is anyone already involved?
     
  2. Hacky McAxe

    Hacky McAxe Immortal Gilded

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    It's not bad. It has established itself pretty strongly so it is useful for trading but it's also highly volatile.
     
  3. south of heaven

    south of heaven Immortal Premium Member

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    Im not sure about it but it has got me thinking about going a long term investment , im going the path of death its a solid industry. Invocare who own just about all the funeral homes in Australia. Look at our population 30 years ago look at it now. then the forcast for the next 30 years.
    Now look at the facts everyone dies
     
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  4. Haza

    Haza Forum Regular

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    I’ve recently got started on it. It’s very volatile. However massive money can be made if a coin you invest in takes off.
     
  5. Hacky McAxe

    Hacky McAxe Immortal Gilded

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    I was talking to some friends about this the other day. Apparently it's a ridiculously tight industry and difficult to get into. Most business is from word of mouth.
     
  6. Fear.The.Roo

    Fear.The.Roo <<<<<NOT ALL>>>>> Gilded

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    How is it different to playing stocks
     
  7. JayBee

    JayBee Immortal

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    Prefer investing in other shares. Had a couple of solid wins lately, especially with this whole legal marijuanna business.
     
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  8. CroydonDog

    CroydonDog Immortal Gilded

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    And everybody hurts ... sometimes.
     
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  9. Armchair critic

    Armchair critic Desball 4 life Gilded

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    If you invested 8 years ago, you'd be a multi millionaire apparently.
    I believe at any moment the bubble will burst and all us small timer peasants attempting to get rich will eventually wind up on street corners in the city asking for money!
     
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  10. tonee

    tonee Super Moderator Staff Member Gilded

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    Yeah, I was on this 4 years ago. Was able to mine 2 BTC they were about $400 back then, now its all mainstream and everyone is one it now.

    I told a lot of people about this back then, no one listened.
     
  11. Armchair critic

    Armchair critic Desball 4 life Gilded

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    I should of listened to Max Keiser, but the stereotype says you can't trust the Jew.
     
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  12. Alan79

    Alan79 Immortal

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    For some reason it seems like a huge con to me. Investing real money to buy virtual money feels like a bad idea. It wasn't such a long time ago that thousands of people lost their life savings and homes to what seemed like a boom investment that turned out to be an absolute con. People were investing their money to lenders who were using it to offer sub prime loans.

    The global financial crisis happened because shares were being sold to invest in giving out irresponsible loans to people with sketchy ability to repay these loans. This funded a housing bubble in the US where property value became inflated by the fact that a lot of people who couldn't afford to pay off their loans were driving up the price of housing. When people began to default on these loans, house prices suddenly became worth a lot less than the amount the loans people took out to buy them. Potentially these sub prime loans would have earned the lenders higher interest rates, but in practice the irresponsible lending fell apart because people weren't able to repay the loans. The people behind the investment scheme sold their shares at a high profit before the shares became worthless.

    I personally searched for information about what crypto currency is actually about and I can't see that there is any physical value to it. It doesn't seem to be connected to any business. It seems like it's fairy tale money that people are paying for with real money. As long as people see the potential for it to be profitable and keep investing it potentially will keep rising in value. To my way of thinking at some stage whoever is creating these crypto currencies could decide to run with the real money people have invested and thus make the crypto currencies another worthless investment. Perhaps this is just my cautious way of thinking, but i really can't see why virtual money will retain any value.

    Before you invest in anything do your research. Look at things that are real and will hold value would be my advice. I just can't see that crypto currency fits that bill. It may have the potential to make a huge short term profit. But that profit is based on the fact that people are willing to keep paying more money for shares as far as i can tell. Getting involved in crypto currencies is probably a gamble like any investment. So to my way of thinking it's a better idea to aim for long term proven investments into businesses that will hold real value in the future.
     
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  13. Haza

    Haza Forum Regular

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    No difference at all. you are investing in a product. Like all investments it can either make you money or you will lose money. It’s all a big gamble.
     
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  14. ASSASSIN

    ASSASSIN The Bearded Crusader Premium Member Gilded

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    I think it's a rort but I hope whoever uses it cleans up.

    I'll stick to bricks and mortar.
     
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  15. ASSASSIN

    ASSASSIN The Bearded Crusader Premium Member Gilded

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    I'd stay away from it..... it's the end of the world as we know it and I feel fine.
     
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  16. MattyB

    MattyB Super Moderator Staff Member Gilded

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    they were my customer in a previous role, got a lot of sales from them as they ahve so many centres in Australia.

    ASIC and the ACCC actually blocked them from purchasing a chain of Funeral homes in QLD as if they did go ahead there % ownership would have been too high
     
  17. Mr Invisible

    Mr Invisible Super Mod Staff Member Premium Member Gilded

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    Double your money one day, halve it the next.

    Probably the most volatile investment option out there.
     
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  18. Armchair critic

    Armchair critic Desball 4 life Gilded

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    Anyone heard about mining crypto currency?
    Apparently if you set up a heap of graphics cards you can mine all sorts of virtual currency and other companies will buy shares in what you mine.

    The more graphics cards you have, the quicker you can mine the currency.
    I don't know much about it, just from a friend who is mad on crypto currency,even with a few bad dealings.
     
  19. Mr Invisible

    Mr Invisible Super Mod Staff Member Premium Member Gilded

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    Yeah the days of making money from mining is long long gone.

    China kinda fucked it hard there. They have warehouses setup with thousands of computers mining Bitcoins for profit.

    The small players or everyday man can't compete these days, infact it ends up costing you more in electricity (and outlaying for hardware) than you get back.
     
  20. Haza

    Haza Forum Regular

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    There was an article about college kids using the free electricity at campuses to mine coins. Pretty smart
     

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