Society/Culture Billionaires

[Nuggs Bunny]

Lol it's right there in front of you

For every old mate that made a billion before 30, there are literally thousands and thousands of people that dump money into a returnless black hole to make it happen.

There's intrinsic value in buying a stock. You buy x% of a company with assets worth $y and an annual profit of $z. There's intrinsic value in buying a block of land because you own something in finite demand that has an objective and practical use. What does owning an NFT provide to you?

 

[Evolved1]

How exciting. Another discussion about crypto from people who know nothing about it. You'd be better off asking yourself why you missed out on the easiest wealth making exercise this century.

 

[Marcel Proust]

How exciting. Another discussion about crypto from people who know nothing about it. You'd be better off asking yourself why you missed out on the easiest wealth making exercise this century.

You can almost smell the salt

 

[Evolved1]

You can almost smell the salt

Happens every time the market shits the bed. The same stuff was posted in the crypto thread in March 2020, and those posters didn't post again for 2 years.

BF is full of slow learners I guess.

 

[Nuggs Bunny]

How exciting. Another discussion about crypto from people who know nothing about it. You'd be better off asking yourself why you missed out on the easiest wealth making exercise this century.

When your portfolio went down the drain a few months ago, were you the sort of investor that said "It was worth $100k, but now it's worth $10k so I've lost $90k"? Because I'm betting you're the sort of dude that's like "Well I started with $20k so technically I've only lost $10k."

Actually nah, I reckon you're about to post a story of how you sold out of crypto at the right time and now you've bought the dip in a true galaxy brain move.

 

[Marcel Proust]

When your portfolio went down the drain a few months ago, were you the sort of investor that said "It was worth $100k, but now it's worth $10k so I've lost $90k"? Because I'm betting you're the sort of dude that's like "Well I started with $20k so technically I've only lost $10k."

Actually nah, I reckon you're about to post a story of how you sold out of crypto at the right time and now you've bought the dip in a true galaxy brain move.

You can almost smell the salt

 

[Evolved1]

When your portfolio went down the drain a few months ago, were you the sort of investor that said "It was worth $100k, but now it's worth $10k so I've lost $90k"? Because I'm betting you're the sort of dude that's like "Well I started with $20k so technically I've only lost $10k."

Actually nah, I reckon you're about to post a story of how you sold out of crypto at the right time and now you've bought the dip in a true galaxy brain move.

Nice fantasy, mate. You're far younger than me and missed out on the youth/tech game of crypto because....? Stupid, ignorant, or what?

I made plenty during the recent bull run; more than enough to buffer the 2021-22 financial year loss.

Someone has to fund welfare payments for LWNJ's of BF, right?

 

[Nuggs Bunny]

Nice fantasy, mate. You're far younger than me and missed out on the youth/tech game of crypto because....? Stupid, ignorant, or what?

I made plenty during the recent bull run; more than enough to buffer the 2021-22 financial year loss.

Someone has to fund welfare payments for LWNJ's of BF, right?

Because I invest in real assets that have quantifiable value and provide reliable returns. It's funny talking to crytpobros who act like they're playing the only game in town and rich people somehow didn't exist until a decade ago. If I thought crypto was worth putting time into above small caps, ETFs and my townhouse development then I would, but it's not. Why do you invest in crypto, do you not have enough knowledge of the stock market or are you just impatient and think crypto is the best way to get rich quick?

 

[Evolved1]

Because I invest in real assets that have quantifiable value and provide reliable returns. It's funny talking to crytpobros who act like they're playing the only game in town and rich people somehow didn't exist until a decade ago. If I thought crypto was worth putting time into above small caps, ETFs and my townhouse development then I would, but it's not. Why do you invest in crypto, do you not have enough knowledge of the stock market or are you just impatient and think crypto is the best way to get rich quick?

Did I say it's the only game in town? I've had 2 investment properties (both sold 2019/20) and the majority of my current investment portfolio is in shares.

Why do I invest in crypto? Because I understand the asset class far more than you and your ilk. I was buying Mar-Apr 2020 at BTC $5K and ETH $300 while your type were shitting on it. Look back through the crypto thread on BF for evidence.

Why do you refuse to learn?

 

[Marcel Proust]

Because I invest in real assets that have quantifiable value and provide reliable returns. It's funny talking to crytpobros who act like they're playing the only game in town and rich people somehow didn't exist until a decade ago. If I thought crypto was worth putting time into above small caps, ETFs and my townhouse development then I would, but it's not. Why do you invest in crypto, do you not have enough knowledge of the stock market or are you just impatient and think crypto is the best way to get rich quick?

Like GameSpot shares?

 

[Nuggs Bunny]

Did I say it's the only game in town? I've had 2 investment properties (both sold 2019/20) and the majority of my current investment portfolio is in shares.

Why do I invest in crypto? Because I understand the asset class far more than you and your ilk. I was buying Mar 2020 at BTC $5K and ETH $300 while your type were shitting on it. Look back through the crypto thread on BF for evidence.

Why do you refuse to learn?

Learn me bro, explain the asset class to me. I legitimately do not understand it at all. How do you personally predict the rise and fall of coins and why is it worth investing small sums in over small cap stocks which have a similar risk/reward profile?

 

[Chief]

How exciting. Another discussion about crypto from people who know nothing about it. You'd be better off asking yourself why you missed out on the easiest wealth making exercise this century.

Do you think that money came from thin air?

 

[Evolved1]

Learn me bro, explain the asset class to me.

I'm not going to waste my time on someone who has no desire to learn.

I legitimately do not understand it at all.

That is obvious. So why s**t on it?

How do you personally predict the rise and fall of coins

I use TA.

and why is it worth investing small sums in over small cap stocks which have a similar risk/reward profile?

Do whatever suits you best. There's no reason to trade crypto if you're better at picking penny stocks.

It seems odd to me that you'd s**t on something you admit to not understanding. Why do you do that?

 

[Evolved1]

Do you think that money came from thin air?

No. Do you think bitcoin came from thin air?

 

[Chief]

No. Do you think bitcoin came from thin air?

Yes!

 

[Nuggs Bunny]

I'm not going to waste my time on someone who has no desire to learn.

That is obvious. So why s**t on it?

I use TA.

Do whatever suits you best. There's no reason to trade crypto if you're better at picking penny stocks.

It seems odd to me that you'd s**t on something you admit to not understanding. Why do you do that?

I was just being facetious, I thought I'd give you the perfect platform to dazzle a thread of naysayers with your intimate knowledge of the cryptocurrency asset class and school us so hard we'd delete our accounts in shame but given you've passed it up I can only guess it's because you don't feel comfortable offering your own explanation or you didn't want to admit you solely get by on candlesticks and trend lines, literally speculating on what the future holds by looking at the past. Like, if you told people you evaluate shares in the same way you evaluate crypto you'd get laughed at, it's neither brilliantly insightful nor difficult to understand and nobody who knows anything about trading stocks sits and ponders how do cryptobros do it, sorry to break it to you. It is often the investment vehicle of choice for people who don't know much about markets and don't have the time to learn for a reason.

That aside, I'm just here to have a good time and I don't really care about about what people want to tip their money into. It's just when I read things like "you missed out on the easiest wealth making exercise this century." or "missed out on the youth/tech game of crypto because....? Stupid, ignorant, or what?", then yeah I'm gonna s**t on your dreams and go out of my way remind you that the level of investing you're on is the same as betting on horse races. But no doubt this is all in jest, right shagger?

Anyway, this is getting serious and I don't want beef. You can have the last say on the house, I'm gonna go look for Will Setterfield highlights.

 

[Gethelred]

Anyway, this is getting serious and I don't want beef. You can have the last say on the house, I'm gonna go look for Will Setterfield highlights.

Good luck. Few and far between.

 

[Coolangatta]

If it’s immoral to be a billionaire, is it also immoral to be worth hundreds of millions? Where is the limit? 100? 500? 999?

 

[Marcel Proust]

Do you think that money came from thin air?

How do you think it works?

Where does this trillion the fed prints and gives to big business come from

 

[Chief]

How do you think it works?

Where does this trillion the fed prints and gives to big business come from

I'm talking about the money he pulled out of crypto trading.

It is not from production, or supply of a service. There is no intrinsic value.

The money comes from ponzi schemes. If you are staking crypto, you're getting paid from a ponzi scheme and you want to be out before the system falters. As we have seen many times.

Latest crash I know of was a few weeks ago:

Why Is Crypto Crashing Today (Again)?

Several major cryptocurrencies suffered heavy losses early Monday as the market’s valuation plunged to nearly $900 billion.

www.forbes.com

From what I have seen, you have a relatively small market for a homogeneous intangible built off of marketing to newbies. The valuation on some of this stuff is ridiculous. Multiply latest price by the amount of crypto in the system? Rubbish.

A company produces goods and services. A house gives us a home. Retail space gives us employment and distribution.

Crypto gives only some scavengers some money if they can swim along with the con.

 

[Marcel Proust]

I'm talking about the money he pulled out of crypto trading.

It is not from production, or supply of a service. There is no intrinsic value.

The money comes from ponzi schemes. If you are staking crypto, you're getting paid from a ponzi scheme and you want to be out before the system falters. As we have seen many times.

Latest crash I know of was a few weeks ago:

Why Is Crypto Crashing Today (Again)?

Several major cryptocurrencies suffered heavy losses early Monday as the market’s valuation plunged to nearly $900 billion.

www.forbes.com

From what I have seen, you have a relatively small market for a homogeneous intangible built off of marketing to newbies. The valuation on some of this stuff is ridiculous. Multiply latest price by the amount of crypto in the system? Rubbish.

A company produces goods and services. A house gives us a home. Retail space gives us employment and distribution.

Crypto gives only some scavengers some money if they can swim along with the con.

If two people think something has value = value.

Money has no value either, it's not longer based on gold anything.

There is little difference. It's up like 10millon percent since 2010 or whatever. Your crashing articles are laughable.

Yes it goes up and down but if you look at graphs from 1-3-5 etc. Years the trend looks pretty good.

I missed the boat too fwiw

 

[Chief]

Keep that head in the sand, brother.

 

[Marcel Proust]

Keep that head in the sand, brother.

People are making money, buying houses etc. and it seems a long term thing.

Who's the one in fantasy land?

I agree there is down side like most things

 

[Chief]

People are making money, buying houses etc. and it seems a long term thing.

You're only hearing about the people on the receiving end.

‘I put my life savings in crypto’: how a generation of amateurs got hooked on high-risk trading

Online trading apps are drawing in novice investors willing to risk everything on volatile stocks. Do they really know what they’re doing?

www.theguardian.com

"All she talked about to her boyfriend was how well her investment was doing. “I’d be telling him, ‘Look, I just made £400 in a day,’” she says. Noor started to fantasise about a future in which she’d never need a mortgage, where she’d invest her way to extreme wealth."

Survivorship bias - Wikipedia

en.wikipedia.org

 

[Marcel Proust]

You're only hearing about the people on the receiving end.

‘I put my life savings in crypto’: how a generation of amateurs got hooked on high-risk trading

Online trading apps are drawing in novice investors willing to risk everything on volatile stocks. Do they really know what they’re doing?

www.theguardian.com

"All she talked about to her boyfriend was how well her investment was doing. “I’d be telling him, ‘Look, I just made £400 in a day,’” she says. Noor started to fantasise about a future in which she’d never need a mortgage, where she’d invest her way to extreme wealth."

Survivorship bias - Wikipedia

en.wikipedia.org

I know people that have stuffed up with it but all investment carries risk. More so for the working class

Back to hating billionaires I'm not sure if crypto or Harry Potter would be that high in the rankings