Virtual $$$

[homer]

Has anyone heard of Bitcoin? Is it BS or is it the way of the Future?
1 bitcoin is worth more than US$1000.

One advantage is anonymity. Imagine paying for w/l using bitcoin, pay her 1 bitcoin and she will have to give you the change...lol.

Getting paid in bitcoins for your job. Your annual salary 80 bitcoins + super.

Wealth in imagined ca$h. Imaginary wealth...hmmm...

http://en.wikipedia.org/wiki/Bitcoin

 

[wr3xr]

My mate bought 14@about $25 each ages ago...

Each bitcoin now worth $1000 or so.

For me the internet is for pr0n and downloading tv shows. I'm not interested in social media, TOR browsers etc but it would have been good to get on board early.

 

[homer]

Indeed, thats one opportunity that has flewn by. I wonder why they havent made a movie about it already.

"I lost my wallet!!" , man #1
"Well what's that bulge below? Is that not it or are you happy to see me?", man #2
Man #1 slaps man #2 with a rainbow trout.
"My virtual wallet! I lost my virtual wallet, you eeediot! And yes I'm super glad to see you.", grinned man #1.

 

[svengali]

I am too old-fashioned to get involved with something like bitcoin.

My money is on the whole shebang falling in a heap and mugs losing their shirts while a handful of smarties walk away with all the loot.

Banks and traditional shares etc. for me with a bit of cash stuffed under the mattress for emergencies.

 

[garibaldi]

People are investing in Litecoin now - similar to the bitcoin. Litecoin seems to be on the rise.
Last week probably $100,000 - $200,000*+ was spent on equipment to mine litecoin

*my guess only. I know a few people that spent $8,000 just on video cards to do the mining.. for Litecoin, not bitcoin.

 

[thiswayup]

Buy Litecoins , cheaper at the mo than Bitcoins, and if Bitcoins are anything to go buy you should make money.
Been reading some reports how Bitcoins = Gold Bullion Litecoins = Silver Bullion of the internet. Have a few mates with a mining set up , expensive set up and as more people start doing it becomes harder to mine.

 

[thiswayup]

It will defo be a thing soon, maybe in a few years. I know of one pub in Sydney that let's you pay for your beer using Bitcoins , like .005 a pint or something like that . Lots of people in Euro have invested in it due to their own county's shit currency , Spain etc

 

[TheCock]

Poor in the real world, poor in the virtual world Can never win!!

 

[colzilla]

Banks and traditional shares etc. for me with a bit of cash stuffed under the mattress for emergencies.

Share$ are a mugs game. But I'll agree Mr Sven that the money under the mattress or better still under the floor boards to be a wise move.

 

[colzilla]

My punt$ are a risky investment to begin with. After the first 2 minutes I spend the next 28 twiddling my thumbs.

 

[colzilla]

Oh well! when one has no commitments, one can do silly thing$

2 minutes of non stop intensity and excitement I'll have you know.

 

[homer]

Yeehaw, high horse on 50 rupees...yay

 

[homer]

oh come on, international exchange, you trade in any currency you want....money is money. Value is only perceived in yer mind. But I do think very highly of you and your worth it for sure.

 

[colzilla]

8 second$ now that really would be a short punt... Rodeo sex maybe that could be my fantasy.

 

[wr3xr]

So the value has significantly dropped. Dipped into the $400's today. Hope all thosw millionaire 17yo nerds sold their bitcoins!

Dogecoin is the new hotness now!

 

[svengali]

Shares actually have a lot more going for them than property, especially over the long term. I don't mean buying and selling them yourself, that is only slightly better than going to the races, but dropping regular sums into a share-based investment fund, preferably a Super fund which also has tax benefits.

Start this in your twenties and thirties and a regular very small amount can snowball into an awesome payout by the time you retire. Wait until you are in your fifties and you need to pay in much much more. It is called compounding returns.

Statistically, despite the occasional market meltdown shares have consistently outperformed real estate in Australia. Don't forget that every real estate transaction involves paying a heap of money to realtors, legal people and Government and cashing out may involve waiting weeks or months for a sale.

Finally, you need a pretty big chunk of change just to get a foot in the real estate door whereas you can start a super plan or share-based investment fund with a few hundred dollars and feed it small sums regularly. Most of your earnings will be paid in fully franked dividends which are tax-free and the smart move is to have these reinvested so that the fund starts feeding itself.

Take a look at our demographics. The days when the Government could tax workers to support pensioners are fast fading as us baby boomers hit retirement age. The present generation of workers will probably need to provide for themselves in retirement rather than rely on Government support.

 

[bushseeker]

My punt$ are a risky investment to begin with. After the first 2 minutes I spend the next 28 twiddling my thumbs.

Thats just poor planning.
Bring cards so you can spend the next 28min playing fish or snap

 

[bushseeker]

Dont believe the tripe about the share market v housing.
I dropped 30k into a managed fund..
Big one 2words first one starting with B second one with T
I diversified it accross 2stratagys.
That was 13years ago
It has NEVER been worth what I put into it since. Not even close the paper loss goes from 50% and the best I think it got to was about 10percent loss.
Housing on the other hand ive had for the same length of time and puts on around 10k a year in fits and starts while giving me a place to live.
Shares can. Will and DO decrease in value despite diversity and time in the market

 

[homer]

I guess the thing with shares is, you need to plan it right. With managed fund your $$$ is in someone's hands to f**k around with. They charged you fees either way, your account can be bleeding $ every single year or gain insignificant gains. on top of that, Govt taxes.
Super funds, managed funds are scams. You have no full control over the investment choices.
This BS sometimes dictate market sentiments because when managed funds go short on certain shares, market reacts to it. They can either push or pull the price of a stock, because of the volume they trade in. I do not put extra $ into super, it's BS. I rather invest it myself.

Shares has its ups and downs. Same as Property Markets. But property in WA has not suffered significant downturn, prices may drop but not by huge margin. In terms of investment, I reckon property is pretty solid. 10 years ago who would pay $600k+ for a property in Balcatta. I can only say Never say never.

As for shares, they always say buy low sell high. I guess now some shares are low. But it is very hard to time the market. It's very unpredictable. You never know what will happen next. Some shares I bought for $5 each 10 years ago, went as high as $15/share before the GFC, post GFC it dropped below $1. Now it has rebounded back to $5+/share.

 

[Pwncess]

I remember reading a story not long ago about a guy in the UK who owned 7500 bitcoins back when they were worth next to nothing.

He ended up throwing his old hard drive away that had his bitcoins on it and then the currency took off and when he realised his old hard drive contained about $8million worth of bitcoins he went to the dump to search for it.

The operators of the dump told him that the pile rose by like 1 foot per month so he had to sift through metres of rubbish trying to find his hard drive lol...

Here's a link to an article on the poor guy:

http://www.smh.com.au/technology/te...l-for-79m-bitcoin-fortune-20131202-2yki8.html

 

[wr3xr]

Dogecoin currently valued at $0.0023 or something.

Huge money to be made from cryptocurrencies if you play your cards right

 

[honestman]

With all managed funds' hefty charges and direct stocks being nothing more than a gamble....What about ETFs / Exchange Traded Funds? I'm strongly contemplating to go after it myself (already set up my MyWealth with commibank, and started a watchlist ...).

Month, after month, after month, hours upon hours of reading & pages of questions being written up - still haven't got my foot in yet. Because of one reason - the tax implications.

It's shameful for me that at my age I wish I started sooner (all of my "distant" social media friends pretty much know what capital gains tax & dollar cost averaging is) But wish I could get a hands on some "affordable" accountants. But they're in 200 to $300 per hour per consultation . Even worse at those rates; "chemistry of understanding" mind games are still involved .

 

[honestman]

At that price they are still cheaper than many WLs!!!

I wish just at least one of the W/Ls I kept in firm memory are actually accountants in the shell .

 

[homer]

Ooohh now you're showing your serious side Homer!

That's no serious side, it's my logical side shining through . lol...but don't tell anyone.

I remember reading a story not long ago about a guy in the UK who owned 7500 bitcoins back when they were worth next to nothing.

He ended up throwing his old hard drive away that had his bitcoins on it and then the currency took off and when he realised his old hard drive contained about $8million worth of bitcoins he went to the dump to search for it.

The operators of the dump told him that the pile rose by like 1 foot per month so he had to sift through metres of rubbish trying to find his hard drive lol...

Here's a link to an article on the poor guy:

http://www.smh.com.au/technology/te...l-for-79m-bitcoin-fortune-20131202-2yki8.html

Yeah I read about it too...he was going through the rubbish tip to find his hard disk. Ouch. It pays to have backup copy of your crucial data, like bitcoin. Poor planning on this guy's part. Hope he finds his hard disk.

Crypto currency is not widely accepted yet, but I reckon it will be more widely accepted when they can normalize its value.

 

[Langtrees VIP Perth 3]

I am with you cash talks. I have watched too many people loose everything on the stock exchange

 

[wr3xr]

Crypto currency is not widely accepted yet, but I reckon it will be more widely accepted when they can control it.

Fixed that for you!

There's a whole new online world that will surely become mainstream for young people in the next 10 years. Possibly access to very scary and illegal stuff lol

 

[homer]

Yeah your not wrong there mr Magoc. The younger or next generation will pick this up and embrace it like the i-Generation with the rotten fruit. Bitcoin, litecoin, dodgeycoin, loosecoins, coinless, and spitcoin.