Bitcoin

Bob the Builder posted:
Kevin Richardson posted:
!
 

If you invested $36,000 into LTC on December 18, 2016, you'd now have over $3,000,000 USD in additional wealth. Maybe not enough to retire but plenty for most people to not have to worry about $ anymore.

 

 

 

Not enough to retire on we truly are in La La land.  If you cannot make three million dollars work enough for you to retire on then you really should take a long hard look at yourself.

Are you in the US? I did not say $3MM is not enough to retire just that it is possible some people couldn't retire on that.

I have friends in NYC with modest homes and $2MM mortgages. My kid wants to go to an Ivy League University which will likely cost $500,000. Retire in your 30's-50's means you have to pay for your own health insurance. That can easily run $30,000/year for a family. If you ever get sick the health insurance companies will drop you/charge even more [assuming the thugs in Congress continue to kill ACA.] So you should budget $500K - $1MM for health care from now until age 65 when you become eligible for Medicare.

Bitcoin rebounding from recent flash crash? Substantial volume has put BTC back near $16,000. ETH/LTC remain fairly steady around 15% below recent ATH.

The future? Bitcoin clearly has a scaling problem that needs to be addressed if it is to ever reach mass adoption. I'm starting to warm up to the possibility that LTC/ETH may ultimately surpass BTC market capitalization. Plan on shifting a % into these in 2018.

 

Kevin Richardson posted:
Bob the Builder posted:
Kevin Richardson posted:
!
 

If you invested $36,000 into LTC on December 18, 2016, you'd now have over $3,000,000 USD in additional wealth. Maybe not enough to retire but plenty for most people to not have to worry about $ anymore.

 

 

 

Not enough to retire on we truly are in La La land.  If you cannot make three million dollars work enough for you to retire on then you really should take a long hard look at yourself.

Are you in the US? I did not say $3MM is not enough to retire just that it is possible some people couldn't retire on that.

I have friends in NYC with modest homes and $2MM mortgages. My kid wants to go to an Ivy League University which will likely cost $500,000. Retire in your 30's-50's means you have to pay for your own health insurance. That can easily run $30,000/year for a family. If you ever get sick the health insurance companies will drop you/charge even more [assuming the thugs in Congress continue to kill ACA.] So you should budget $500K - $1MM for health care from now until age 65 when you become eligible for Medicare.

Like I said La La Land.  And no not in the U.S I'm in England.

Bob the Builder posted:
Kevin Richardson posted:
Bob the Builder posted:
Kevin Richardson posted:
!
 

If you invested $36,000 into LTC on December 18, 2016, you'd now have over $3,000,000 USD in additional wealth. Maybe not enough to retire but plenty for most people to not have to worry about $ anymore.

 

 

 

Not enough to retire on we truly are in La La land.  If you cannot make three million dollars work enough for you to retire on then you really should take a long hard look at yourself.

Are you in the US? I did not say $3MM is not enough to retire just that it is possible some people couldn't retire on that.

I have friends in NYC with modest homes and $2MM mortgages. My kid wants to go to an Ivy League University which will likely cost $500,000. Retire in your 30's-50's means you have to pay for your own health insurance. That can easily run $30,000/year for a family. If you ever get sick the health insurance companies will drop you/charge even more [assuming the thugs in Congress continue to kill ACA.] So you should budget $500K - $1MM for health care from now until age 65 when you become eligible for Medicare.

Like I said La La Land.  And no not in the U.S I'm in England.

Why do you say La La Land? I don't understand what you mean.

Lovely watch Kevin, but don’t kid yourself about it being ‘the last watch you’ll ever need’. Watches like these have very little to do with satisfying needs, much more to do with fulfilling dreams. Glad to see your ‘investing’ is bringing tangible benefits.

 

Blackmorec posted:

Lovely watch Kevin, but don’t kid yourself about it being ‘the last watch you’ll ever need’. Watches like these have very little to do with satisfying needs, much more to do with fulfilling dreams. Glad to see your ‘investing’ is bringing tangible benefits.

 

I'm a watch nut and the perpetual calendar is the only significant complication I don't currently have. Of course it isn't the last watch I'll ever want 😳. 

I've coveted this watch [and the previous version] for years.

Unfortunately I've just learned this watch is not a real perpetual since it cannot handle dates after December 31, 2199! I suppose JLC will provide a service to extend its useful lifespan at least through December 31, 2399. [I love fine watches knowing 100+ years after I'm dead somebody will still wear them. ]

Now I need to get my wife something nice. 🤔

2018 has already got off to a good start with crypto - however one needs to diversify and leave alone... Eth has now pushed past $1000 and moving to $1100..., Ripple is hovering between $2.50 and $3.20 and Bitcoin has moved past $16000 again. The only one of the established coins I am wary of is Litecoin. Ironically it has great utility and I use a lot to ship value around with it, which until Ripple becomes more widely adopted on exchanges, seems to be most efficient, quickest and cheapest way - but for holding and investing it just seems too unpredictable and overall is largely wedded to the value of Bitcoin.

What is interesting is that the exposure of crypto seems higher in much of Asia than in Europe and the US - and demand seems much higher there, seemingly because many of their governments are more overt in warning their populations of the risks  - and because of lack of arbitrage abilities  on any large scale for places like between Korea and the US - the crypto prices are quite far apart - like 20% for some in demand cryptos like Ripple.

 

 

Simon-in-Suffolk posted:

2018 has already got off to a good start with crypto - however one needs to diversify and leave alone... Eth has now pushed past $1000 and moving to $1100..., Ripple is hovering between $2.50 and $3.20 and Bitcoin has moved past $16000 again. The only one of the established coins I am wary of is Litecoin. Ironically it has great utility and I use a lot to ship value around with it, which until Ripple becomes more widely adopted on exchanges, seems to be most efficient, quickest and cheapest way - but for holding and investing it just seems too unpredictable and overall is largely wedded to the value of Bitcoin.

What is interesting is that the exposure of crypto seems higher in much of Asia than in Europe and the US - and demand seems much higher there, seemingly because many of their governments are more overt in warning their populations of the risks  - and because of lack of arbitrage abilities  on any large scale for places like between Korea and the US - the crypto prices are quite far apart - like 20% for some in demand cryptos like Ripple.

 

 

LTC has show better price stability than the other major cryptos. Personally I view it as the safest choice for transferring value--> real value as a currency. 

Peter Dinh posted:

Looks like BTC and related stocks take a bashing today when the news from the South Korean government came out.

A little, but politics are evolving in SK, and of course since many of the recent rumours reported by the western media about SK and crypto currency have been declared ‘fake news’ by the authorities there has been a modest rise over night, however many Cryptos generally have been correcting and in a downward path as part of their regular cycles for a few weeks now. It’s only Ethereum from the main Cryptos that has been pushing it’s all time highs.

Kevin Richardson posted:
winkyincanada posted:

With the amount of wealth being created by crypto, pretty soon we will all be able to retire. No-one will have to work at all! Hooray!

If you invested $36,000 into LTC on December 18, 2016, you'd now have over $3,000,000 USD in additional wealth. Maybe not enough to retire but plenty for most people to not have to worry about $ anymore.

Of course you had to actually make the investment.

Many who took the risk are now financially independent as a result.

Some people can see the future; others are stuck in the past. 

 

 

And if you invested $36,000 into LTC on December 18th 2017, you'd have less than half of it left.

This happens annually, almost at exactly the same dates... I would stick it out unless you want to day trade... look at the stats there is lot crypto changing hands right now... I think this is healthy... this is why it is not really a bubble, it corrects annually... but of course this year there is a lot of new money because of media interest and crypto has become fashionable...I suspect a lot of these people who have only ever seen growing values in the last three months are panicking and selling and the seasoned Crypto investors are mopping up... so I suggest you hold and leave it for several weeks

Simon-in-Suffolk posted:

This happens annually, almost at exactly the same dates... I would stick it out unless you want to day trade... look at the stats there is lot crypto changing hands right now... I think this is healthy... this is why it is not really a bubble, it corrects annually... but of course this year there is a lot of new money because of media interest and crypto has become fashionable...I suspect a lot of these people who have only ever seen growing values in the last three months are panicking and selling and the seasoned Crypto investors are mopping up... so I suggest you hold and leave it for several weeks

"Corrects" is an interesting term. Any idea of what the seasonality is caused by? If it is just because that's what everyone else thinks is going to happen, then it a classic example of a bubble.

I saw an article about some early-adopter silicon valley "crypto-bros" this week. They have a pact that the only thing they are permitted to buy with their gains is a Lamborghini.

winkyincanada posted:
Simon-in-Suffolk posted:

This happens annually, almost at exactly the same dates... I would stick it out unless you want to day trade... look at the stats there is lot crypto changing hands right now... I think this is healthy... this is why it is not really a bubble, it corrects annually... but of course this year there is a lot of new money because of media interest and crypto has become fashionable...I suspect a lot of these people who have only ever seen growing values in the last three months are panicking and selling and the seasoned Crypto investors are mopping up... so I suggest you hold and leave it for several weeks

"Corrects" is an interesting term. Any idea of what the seasonality is caused by? If it is just because that's what everyone else thinks is going to happen, then it a classic example of a bubble.

I saw an article about some early-adopter silicon valley "crypto-bros" this week. They have a pact that the only thing they are permitted to buy with their gains is a Lamborghini.

Funny but I googled "orange Lamborghini Huracan" and within an hour the market started crashing. 😂🤔🤢😨😭 

winkyincanada posted:
Simon-in-Suffolk posted:

This happens annually, almost at exactly the same dates... I would stick it out unless you want to day trade... look at the stats there is lot crypto changing hands right now... I think this is healthy... this is why it is not really a bubble, it corrects annually... but of course this year there is a lot of new money because of media interest and crypto has become fashionable...I suspect a lot of these people who have only ever seen growing values in the last three months are panicking and selling and the seasoned Crypto investors are mopping up... so I suggest you hold and leave it for several weeks

"Corrects" is an interesting term. Any idea of what the seasonality is caused by? If it is just because that's what everyone else thinks is going to happen, then it a classic example of a bubble.

I saw an article about some early-adopter silicon valley "crypto-bros" this week. They have a pact that the only thing they are permitted to buy with their gains is a Lamborghini.

Could be tax harvesting every January. 

winkyincanada posted:
Kevin Richardson posted:
winkyincanada posted:

With the amount of wealth being created by crypto, pretty soon we will all be able to retire. No-one will have to work at all! Hooray!

If you invested $36,000 into LTC on December 18, 2016, you'd now have over $3,000,000 USD in additional wealth. Maybe not enough to retire but plenty for most people to not have to worry about $ anymore.

Of course you had to actually make the investment.

Many who took the risk are now financially independent as a result.

Some people can see the future; others are stuck in the past. 

 

 

And if you invested $36,000 into LTC on December 18th 2017, you'd have less than half of it left.

And the December 2016 investor still has 1.7 million USD. Give it another year.

Kevin Richardson posted:
winkyincanada posted:
Kevin Richardson posted:

And the December 2016 investor still has 1.7 million USD.

Only if they sell it.

Then the 2017 investor only has the loss if she sells it.

That's one way to look at it, I guess. But the USD they bought the crypto with aren't all coming back, whether sold or not.

It amazes me that people who can afford to buy such high end audio gear, and usually do so after a process of careful deliberation, are carrying on about this obvious bubble as if it’s a legitimate investment.  I’m not trying to be a Debbie Downer.  I’m making that comment more from an anthropological point of view.

ngarritson posted:

It amazes me that people who can afford to buy such high end audio gear, and usually do so after a process of careful deliberation, are carrying on about this obvious bubble as if it’s a legitimate investment.  I’m not trying to be a Debbie Downer.  I’m making that comment more from an anthropological point of view.

An asset can be both in a bubble and legitimate. Just look at Amazon.

 

Salmon Dave posted:

Is bitcoin actually a 'currency'?

I mean, genuinely don't understand (not that I'm going to 'buy' any, as we say in the real world).

Legally Bitcoin might be a currency depending on where you are located on the globe. In the US, the IRS does not consider Bitcoin a currency.

Bitcoin can function as a currency (I know a guy who bought a Lamborghini with Bitcoins) but has yet to achieve mass adoption. Still early days.

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