Prices not going down??

[pt49]

Originally Posted by Pelagic

I haven't bothered to read thru all this salivating over a pandemic opportunity to buy a cheap boat.
Kinda reminds me of those who pick thru the remains of Holocaust Victims.

If anything, I'm hoping that those who bought a boat for the right reasons, but got distracted by social bling, will revalue their priorities..... and go sailing.

I didn't read through it either ol' mate.
I am going to pick up a very nice yacht in 3 or 4 months at a VERY realistic price... and GO SAILING.
At present NOBODY can go sailing because borders and ports are closed.
I been buying Bitcoin for a few years with every little bit of spare cash I could find.
PAYDAY is coming.
Advertised prices of yachts on Facebook Buy website "https://www.facebook.com/groups/1569031749819506/?ref=group_header" are down 10% on average in one week.

[GordMay]

Originally Posted by pt49

The only currencies that will be worth more than the US$ are Gold and Bitcoin.

“Bitcoin’s Coronavirus Crash; Blockchain In A Pandemic” March 15
Bitcoin felt the brunt of a historic week in which the impact of the coronavirus pandemic in the U.S. accelerated at a pace most couldn’t have imagined. It lost 50% of its value in a single day Thursday and dipped below $4,000 that evening for the first time since last March. By Friday morning, it had recovered some of its losses, rebounding to close to $6,000...
➥ https://www.forbes.com/sites/cryptoc.../#433e8e0a2a5b
➥ https://www.coindesk.com/price/bitcoin

“Bitcoin’s Recent Recovery Won’t Salvage a Terrible Month for Prices” Mar 31
➥ https://www.coindesk.com/bitcoins-re...nth-for-prices

[GBR134]

I’ve rather lost interest in all this - just google Lady Island,SC. I want to move there!

[Singularity]

Originally Posted by Pelagic

I haven't bothered to read thru all this salivating over a pandemic opportunity to buy a cheap boat.
Kinda reminds me of those who pick thru the remains of Holocaust Victims.

If anything, I'm hoping that those who bought a boat for the right reasons, but got distracted by social bling, will revalue their priorities..... and go sailing.

So what kind of morality do you think is utilized by most people who are able to buy a new boat?

My read is that most new/big/lavish boat owners are in the prison camp construction business in the first place...that's how they afforded their new big boat. Just that it's sort of anti-boaty social to call those types sociopaths.

In other words, if global affairs are such that it allows someone who previously couldn't afford a boat...to now afford a boat...then I don't see a difference between rich new boat buyers and relatively poor boat buyers who might take advantage of post-pandemic pricing. Just the latter is either less sociopathic, or, a less successful big sociopath.

[pt49]

Originally Posted by GordMay

[SIZE=3]
“Bitcoin’s Recent Recovery Won’t Salvage a Terrible Month for Prices” Mar 31
➥ https://www.coindesk.com/bitcoins-re...nth-for-prices

I bought Bitcoin for $3,250 just over 15 months ago... I am still looking at a 100% gain in the last 15 months... how are your Boeing shares doing?

I stand by my claim...
"The only currencies that will be worth more than the US$ are Gold and Bitcoin."

[Wallaby]

Originally Posted by Happ

Not to get to political here but the 30% Tax Cut by Trump gave corporations money to grow and expand their companies. They didn’t. They bought back stock helping drive the market higher. No fundamental change in the companies. Instead we could have used that money to start reducing the debt. That was the whole idea about saving the economy. It would come back and grow generating more tax dollars to pay back the bailout.

Stock buybacks started long before Trump. The Trump tax cut had various motivations, driving the economy was one of them; however, company managers/boards had vested interests in increasing their stock prices.

That some companies used their money to buy stock should be a factor in any future government distributions; as should those companies operating overseas and not repatriating profits/pay taxes. Unfortunately, politicians have 'no skin in the game.' The money they give away is largely wasted, independent of party.
The truly sad thing is that while the 2020 elections are crucial to the future of the US, there is NO worthwhile candidate at the present time.

[Pelagic]

Originally Posted by Singularity

So what kind of morality do you think is utilized by most people who are able to buy a new boat?

My read is that most new/big/lavish boat owners are in the prison camp construction business in the first place...that's how they afforded their new big boat. Just that it's sort of anti-boaty social to call those types sociopaths.

In other words, if global affairs are such that it allows someone who previously couldn't afford a boat...to now afford a boat...then I don't see a difference between rich new boat buyers and relatively poor boat buyers who might take advantage of post-pandemic pricing. Just the latter is either less sociopathic, or, a less successful big sociopath.

Lol , have never been able to buy a new boat (Stargazer launched in 1981) so wouldn't be able to pigeon hole boat aged sociopathetic morality with such confidence.

I agree, opportunistic buying is part of the capitalist market place and perhaps my sensitivity to pandemic profiteering is heightened with this enforced lockdown....
...But it does leave a bad taste in my mouth as if chewing on a bit-coin.

[rabbi]

I don't see anything wrong with opportunistic buying.
Anyone who does: Please don't buy stocks in this corona market dip. Do not take advantage, offer pre-crisis prices !

Its just the same - except that you don't meet the broke seller personally.

[skipperpete]

Originally Posted by pt49

I bought Bitcoin for $3,250 just over 15 months ago... I am still looking at a 100% gain in the last 15 months... how are your Boeing shares doing?



I stand by my claim...

"The only currencies that will be worth more than the US$ are Gold and Bitcoin."

I only have 3 bitcoins so could hardly be described as an informed investor. I am however, as pleased as you probably are with the current price. I’ve been a long term buyer of gold and am very interested to see how gold prices change as the global financial situation ebbs and floods....... particularly if the futures traders decide to settle their contracts for bullion instead of cash.
Pete.

[pt49]

Originally Posted by skipperpete

I only have 3 bitcoins so could hardly be described as an informed investor. I am however, as pleased as you probably are with the current price. I’ve been a long term buyer of gold and am very interested to see how gold prices change as the global financial situation ebbs and floods....... particularly if the futures traders decide to settle their contracts for bullion instead of cash.
Pete.

Pete... Well done to have acquired 3 Bitcoin.
There will only ever be 21 million mined and currently it sits at 18 million.
There are over 30 million dollar millionaires in the world, so there can never be enough bitcoin for every millionaire to have even 1 bitcoin.

When hyperinflation kicks in as a result of the flood of money being printed world wide, owning just 1 bitcoin will set a person up for life.
Gold and silver will increase in value a hell of a lot... 5x to 10x, but bitcoin will literally skyrocket... 50x to 100x.

What a lot of people don't understand is that as precious metals increase in value, mining cranks up producing more gold and silver which partially absorbs the price increases.
Whereas with bitcoin every 4 years the mining output halves adding to price increases. The next halving occurs in 5 to 6 weeks from now, about 12th May.
This means mining output of bitcoin will be decreasing right as demand starts increasing due to hyperinflation of Fiat currency markets.

"Bitcoin is a call option on the future of the financial system" ... Raoul Paul.

[Buzzman]

Originally Posted by Wallaby

.... Buying 'water supply' is generally beyond most people's means.

Not necessarily. A water tank is only a cuppla grand. Folks with high water demand (i.e. teenagers) could offset municipal water penalty costs by installing tanks and pressure pump.

Also, lower-end users with relatively high fixed municipal costs could arguably save over time by replacing mains with tank water.

For example, I live in a relatively high rainfall area, but am on mains water, for which I pay rates and usage charges. Annual 'water access fee' is around $325, plus usage of around $30-40/qtr (on approx 7KL), or say $120-160/p.a.

That's a total of around $475, so a 5,000L tank at around $850 could be amortised in only two years.

Of course, the addition of pump, fitting and installation labour probably doubles that, but still....

Problem for me personally is that the cheaper tanks (round, basic) need real estate which I don't have.

I'd need to utilise underground tanks, or narrow (slimline) tanks or low, squat, 'underfloor' tanks in order to get the 5000L minimum capacity.

Which are of course MUCH more expensive. A 3000L and 2000L 'slimline' tank would cost $1100 and $1200 respectively, or collectively $2300, or approx 3 times the price of the single round tank.

Which takes the amortisation time out to around 8 years....

But if you have the space to install the cheaper, round, cylindrical poly tanks....buying 'water capability' is seriously do-able.

Course, if you live in an apartment you're ****ed....

[GordMay]

A question, for those of you, who understand cryptocurrencies.
I must admit that I don’t really understand blockchain technology, very well, at all.
So, why do, even the most purist of blockchain technology believers, measure wealth in fiat currency? Is it because they understand that, in order to realize their earnings, they must liquidate their digital assets (cryptocurrency), and hope that in the process, the asset’s price doesn’t change too much?

[pt49]

Originally Posted by GordMay

A question, for those of you, who understand cryptocurrencies.
I must admit that I don’t really understand blockchain technology, very well, at all.
So, why do, even the most purist of blockchain technology believers, measure wealth in fiat currency? Is it because they understand that, in order to realize their earnings, they must liquidate their digital assets (cryptocurrency), and hope that in the process, the asset’s price doesn’t change too much?

The only reason one would measure the value of a crypto asset in Fiat currency is because EVERYTHING we buy with Crypto is valued in Fiat.
It must be converted.
Analogy...
When the British Pound was the worlds reserve currency, people in America had to convert Pound values back to Dollar values.
Then after Brittain went broke during WWII, the US$ became the worlds reserve currency.
Whats happening in our world now could very well see the Chinese Yuan becoming the worlds reserve currency... at least that's what China is hoping for. That's the reason China has been buying tons of gold for the last 5 years or so.
They have been hedging their bets though, and buying Bitcoin regardless of the ups and downs.

[pt49]

If you own Bitcoin you can obtain debit cards that you can use in any point of sale world wide just like a normal visa debit card.
The transaction is automatically converted from bitcoin to fiat within the system and your bitcoin account gets debited for the $ value of what you bought.

It's no different to traveling to France from America with your Visa card, it is converted automatically for you so you don't need to use up your own degenerate brain cells working out conversion values.

All I am interested in is Bitcoin value rising and yacht value dropping... does that make me greedy?

NO... it makes me sensible.

[Buzzman]

Wait for the Bitcoin 'market' to split....there'll be Half-Bits, Quarter-Bits, etc...

Then watch the real fluctuations take hold. IOAMOT