Crypto perspectives from 9 years ago

I always wondered how you would have bought bitcoin in 2011 and 2012. Like just private P2P involving bank transfers? And then key and address generation...
 
you dont have to be a maxi, its not ford vs holden we have the capacity to enjoy many different stores of wealth.
 
hawkeye1 said:
Store Of Wealth Stackers
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Not likely. Inflation is a cancer that consumes all, even BTC. And this will keep happening while governments have a monopoly on the issuance of fiat currencies. If 1 BTC is valued at $1million by the end of 2021 (and it won't), this is what it's future value will be with an annual inflation rate of 5% assuming the value of BTC won't rise. Eventually the value of BTC won't rise, we're just bringing this eventuality forward a few decades.

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(34:25)

So anyone wanting to retain their purchasing power in an inflationary environment using a deflationary asset will need to hold around 1 and 1/2 BTC in 2030 to be considered as wealthy as they are today holding just one BTC. That's nearly a 50% decrease in value.
 
Actually read the archived thread (the pages that exist). Holy smokes... there must have been some crypto gazillionaires on this forum. Makes sense that some of those frequent posters from those days moved on. I'd be sunning it up on an island somewhere too...
 
Bitcoin down 25,000USD since November 2021, now 16 January 2022.
Crypto shake-out in the coming years, just like when the tech stock bubble burst; no one thought AOL would crash and burn, it did as did many in the dot com bubble.
Bitcoin will probably end up like AOL.
Although crypto is here to stay, have fun searching through the rubble for those who become the Amazon's of the crypto world.
I'm off to play some music. :p:D
 
Holdfast said:
Bitcoin down 25,000USD since November 2021, now 16 January 2022.
Crypto shake-out in the coming years, just like when the tech stock bubble burst; no one thought AOL would crash and burn, it did as did many in the dot com bubble.
Bitcoin will probably end up like AOL.
Although crypto is here to stay, have fun searching through the rubble for those who become the Amazon's of the crypto world.
I'm off to play some music. :p:D
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upload_2022-1-16_19-47-35.jpeg
 
Holdfast said:
Although crypto is here to stay, have fun searching through the rubble for those who become the Amazon's of the crypto world.
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My advice to anyone is that if you don't understand what you're investing in, then either learn, find someone who knows what they're talking about or stay out. I manage a few small crypto portfolios for family members (my own portfolio has been posted in another thread and I've got a heavy SMSF portfolio), the first portfolio below was funded entirely by the member's gold holdings, the second has been built using cash purchases and DCA, the third was handed to me after the member suffered a huge capital loss on his initial investment following the crash after the 2017 highs. Not bad considering I started managing their portfolios at the beginning of 2020, obviously far below the ATH:

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My ASX portfolio, shares are a new thing to me, I learnt about opportunity cost the hard way, started investing in shares in 2020, just putting the result here for interest, no doubt many have had better returns:

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I'm not posting to brag, but hey! TBH they're pretty impressive figures aren't they? Especially considering the major super funds are crowing about 15 - 20% returns in the FYE21. I'm doing it because I've been on this forum for over 10 years and I've heard the same sorry tale of the imminent RE, stock market, crypto etc crash time and time and time again.

Diversify brothers*. Don't put all your eggs in 1 basket, it doesn't work and it's stupid. I know.

*And sisters, sorry @JulieW et al. :p
 
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Putting price aside, the OP 1for1 just didn't have a clue on either how money functioned or bitcoin's software, although didn't stop them shovelling shit.

Holdfast said:
Although crypto is here to stay, have fun searching through the rubble for those who become the Amazon's of the crypto world.
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I don't see it any different to 2000. The cream had already floated to the surface then. Amazon is a rare exception. Almost certainly true too in new crypto tech. The cream has already floated the surface, but that won't stop dreamers searching for the next bitcoin or ethereum.
 
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