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know all
06 Apr 21 13:43
Joined:
Date Joined: 13 Dec 03
| Topic/replies: 2,955 | Blogger: know all's blog
both are gambles for gamblers and i find that the ups and downs of crypto suits the gambling brain because we are used to losing and bounce back from a crypto coin going down in price , its like in running betting crypto but you cant lose really not at the moment, i now trade every day exiting stuff the highs and lows but when you go to bed, you wake up you have no idea what it going to be up or down, the wife getting used to me shouting get in at 8am in the morning and doing a irish jig with some prices having shot up overnight and the lows but the lows are few and far between.

some betfarians will also be clever enough to be involved in this certainty, the future of money and the banking system is all about to change with crypto
thank me in a few years time.
are you for or against crypto ?
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Report impossible123 April 6, 2021 8:25 PM BST
Are you a product/commodity convincer? Earlier you're promoting a racing club where "owners" do not own the horse.
Report dustybin April 6, 2021 8:42 PM BST
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.

Albert Einstein

“I can calculate the motion of heavenly bodies, but not the madness of people.”

— Sir Isaac Newton

Newton himself having made a profit from the south sea bubble, got out....then decided to go back in and it crashed.

I see NFTs have started to show exactly what they are too....utterly pointless, with creators changing the 'art' after the product has been sold. Pretty hilarious, but then stupid more than anyother needs to be taught a lesson.
Report dustybin April 6, 2021 8:47 PM BST
If you bet in the conventional sense, especially IR...you bet on an event that you can see, that you have experience with and that you can relate to 100,000s of previous races to get an idea of what can and realistically can not happen.

With crypto you simply gamble on a whim, knowing nothing about whether something will rise or fall or even what is happening what you cant see. There is a whole generation of no marks who know nothing other than the fact it has previously risen, and therefore believe it always will do so and care nothing for reason.
Report onlooker April 6, 2021 8:55 PM BST
I would worry about Elon Musk - changing his mind.
Report Gaze733 April 6, 2021 9:24 PM BST
BTC recovered from every single crash for 12 years, so people who always think it's 50/50 whether it will go up or down are clowns. If Elon tanked the price to 40k it would recover again like it always does.
Report dave1357 April 6, 2021 10:46 PM BST
Unless either the way that transactions are completed is modified to use less energy or a decent number of fincos buy enough coins to set up wallets which can be reconciled with minimal recourse to the blockchain, bitcoin is going to be regulated out of existence.
Report leif April 6, 2021 11:19 PM BST
Bit like Pokemon cards.

You can stare at them glowingly for a long while but they will end up worthless.

Gold, Silver, Gold , silver.....

Physical, not fungible or intangible  IMO.
Report dustybin April 7, 2021 4:32 AM BST
I find the Musk idolatry bizarre.
He didn’t create Tesla he simply took it over and now he’s the piped piper? What does that make his followers? Rats?

He was given 1.5bn for his apparent work on environmental issues over the electric car thing....then propped up one of the silliest notions in recent times; Bitcoin to the tune of...you guessed it 1.5bn dollars. It’s like 3 card brag. Bitcoin wastes energy at an increasing scale, all for what, so that inspirational millennials can moan about what previous generations did to the planet?

The whole thing would be hilarious if it weren’t tragic.
Report know all April 7, 2021 2:21 PM BST
I would worry about Elon Musk - changing his mind.

i think he might when it goes to 100,000 all these large banks and big share companies now getting involved
Report Davros April 7, 2021 2:42 PM BST
It's a well known adage that when your taxi driver starts offering stock tips then it's time to get out of the market.  Specific investment advice on here must represent a step beyond that stage.

Saying something must continue to go up just because it has been is clearly a redundant strategy - the higher the current valuation the lower subsequent expected returns.
Report know all April 7, 2021 7:23 PM BST
eth or etherum projects the next highs, if your not into bitcoin its to late but lots of coins 4000 picking the right one same as horse racing, research knowledge and knowing when to get in and out, same as gambling on the horses, the masses lose the few win its very similar to horses except its near certainty's if you bet the right ones, ive taken a loss on some then re invest on others the highs and lows and exitement are same as horseracing but far more profits. in 5-10 you will all be into it i was first day on betfair flutter before that
Report spyker April 7, 2021 7:29 PM BST
We should all be using bitcoin for most purchases by now according to those who invested in it early (hence the whole point in it/investing in it) but as far as I know it is barely used at all and just seen as an investment. At some point it's eiither has to start being used widespread or it's value will crash. Has all the makings of a Ponzi type scheme collapse unless it actually shows it has a use. Similar to all the tech companies  that are 'worth' billions but barely scratch a profit, The sheet has to hit the fan sometime!
Report screaming from beneaththewaves April 7, 2021 7:48 PM BST
The problem for bitcoin will be if people actually did start using it for purchases. There's not enough energy on the planet for that to happen. Bitcoin only thrives as long as people think it WILL, one day, be used for purchases, but just as long as that day never comes.
Report spyker April 7, 2021 7:56 PM BST
I'd be astounded if big banking, having said it was unworkable at onset, isn't developing similar currency/s ready for use. In all likelihood they will be the ones that gets used, pushing all the others aside which become worthless. Sheyt meets fan
Report muse April 8, 2021 8:37 AM BST
I met a traveller from an antique land
Who said: "Two vast and trunkless legs of stone
Stand in the desert . . . Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed:
And on the pedestal these words appear:
'My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!'
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away."
Report Davros April 8, 2021 10:10 AM BST
An element of bitcoin's attractiveness to investors is that it is a fixed issuance currency, i.e. there is a predetermined limit to how much can be mined.  This is in stark contrast with all the fiat currency being pumped into the world by central banks.  However, there is no limit to the number of rival cryptocurrencies that can be created so it is at the mercy of regulation and fashion more than traditional methods of investment.  It is also so volatile that it can only ever represent a tiny % of a portfolio if at all.

know all:  "research knowledge and knowing when to get in and out".  This is one of the greatest fallacies in the investing world.  Despite the wealth of data and research dedicated to analysing it, it has been proven time and time again that it's almost impossible for the (highly-paid) professionals to make money from market timing.  In a study of the performance of funds whose remit was to adjust investment allocation between asset classes to take advantage of changes in the market they were nearly all outperformed by a passive tracking portfolio.

Yet, we are somehow meant to believe that spotty teenagers can utilise their inherit smarts and make fortunes from their parents basement trading cryptocurrencies.  It's risible.

I don't know what it is about betting, finance, driving, fighting and sex that makes the male population believe they are capable of immense feats of skill and performance without training, talent, practise or experience.  Nobody would expect to be able to sit at a piano and play Liszt's La Campanella just because they once managed to bang out two verses of The Entertainer between pork scratchings down The King's Head.
Report know all April 8, 2021 10:52 AM BST
know all:  "research knowledge and knowing when to get in and out".  This is one of the greatest fallacies in the investing world

Ive moved over to trading on crypto but the gambling knowledge gives me a edge this is not stocks and shares crypto can and does go up and down rapidly just like in running but in mins not seconds, but im really investing for the future and its going well but the serious stuff will come when joe bloggs all decide to get involved as its very early and its about to disrupt everything so hold on to your hats.
racing on its way out the day to day stuff finished for me
Report screaming from beneaththewaves April 8, 2021 1:25 PM BST
Translation: I can't make racing pay, so I'll use that knowledge to make currency trading pay.
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