WLs and crypto

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09-01-2022, 07:13 AM
TheHonDominicPinochet

Quote:

Originally Posted by Fred Flintstone

$100k invested in Vanguard index funds would have given you a return of about $30, 000 last year. That’s enough for 120 roots. Get rich slow. Long term you can’t beat the index! People have been trying for 100 years to beat the index, but can’t.

Crypto performance is not based on any economic principles. It’s not backed by anything. It’s all pure speculation. It doesn’t look at any economic data, so no amount of trend analysis is going to help you. The boffins in China that are mining this shit perhaps look at their electricity bill in awe. They probably need some air conditioners to cool down their computers. You may as well speculate on black or red on the roulette wheel. How many mugs have had their crypto accounts drained and “coins” stolen?

So many people running to the support of WLs. Jesus, can’t open me mouth without a pile on. You put them on a pedestal and worship them. Most other forums refer to prostitutes and hookers. Oh but on this forum, you call them WLs as if they are from some saintly, hallowed profession. Sure, we can treat them respectfully and kindly, but don’t mask the name of their profession. Is that to hide your embarrassment or theirs?

One complete fuckwit on this forum even tried to convince me that an RnT masseuse who wanked cocks for a living and full service prostitute were perfect, socially acceptable professions, right up there with doctors and lawyers. When it was suggested that perhaps he could ask his wife/daughter/sister/mother to join that profession, he soon shut up.

It's pretty obvious that the only respect you have for women is whether you want to fuck them or not. And even then your underlying disdain is obvious.
Almost like you're from the stone age!
09-01-2022, 07:33 AM
Fred Flintstone

Many of you guys are missing the point of the original post. It was not about comparing crypto as an asset class and not meant to be a discussion about the merits of this investment.

I was trying to compare market sentiment in 1929 to now when the lower end of society (yes correct) jumps very late into investments they know nothing about, at the end of a long bull run. It usually doesn’t end well when uninformed mugs enter the market so late in the cycle. History has shown this to be true repeatedly.
09-01-2022, 07:41 AM
Fred Flintstone

Quote:

Originally Posted by Johnisfun1969

But keep in mind these women see hundreds of men and some are regulars who could be smart investors and keep giving tips where to invest money. Anyhow lot of these WL could also taking home more than you and I.

Many hookers are indeed making more money than most punters. Someone like Rebecca is making $2,000 a day x 4 days/ week = $8,000 a week. If she works 50 weeks a year, that’s $400k tax free. So a tax paying person would need to earn about $700k to match that.
09-01-2022, 08:16 AM
MrPerson126

Quote:

Originally Posted by Fred Flintstone

Many of you guys are missing the point of the original post. It was not about comparing crypto as an asset class and not meant to be a discussion about the merits of this investment.

I was trying to compare market sentiment in 1929 to now when the lower end of society (yes correct) jumps very late into investments they know nothing about, at the end of a long bull run. It usually doesn’t end well when uninformed mugs enter the market so late in the cycle. History has shown this to be true repeatedly.

Agree completely. I know a few, a few people who have become actual millionaires off crypto, while I've been sitting on the sidelines making a smaller amount buying conservative stocks. BUT, whatever the investment class is, if your WL is telling you to buy into it, take that with a grain of salt. If your ML/WL told you now is the time to buy BHP, or Westfield, would you?

Yes, the crypto doubters of 5, 4, 3, 2 and 1 year ago were wrong, and said it will fall any day now and were wrong, and missed out on so much money doing that. BUT, now that crypto is mainstream, truly mainstream, and even WLs are getting on board, how confident are you in holding for longer? IS this an investment you could hold for ten or more years? Would you be confident putting your savings into it and never even checking it? If it's a well managed, solid investment, in most cases you should be able to.

Another note, bubbles can continue for a long time. Holland's infamous (and somewhat exaggerated) 'Tulip Frenzy' lasted 3-4 years at its peak. The South Sea Company bubble lasted 3 years. The Dot Com Bubble took 5 years to dip, and 6 to completely crash.
09-01-2022, 08:49 AM
GoldfishMan

Quote:

Originally Posted by MrPerson126

Agree completely. I know a few, a few people who have become actual millionaires off crypto, while I've been sitting on the sidelines making a smaller amount buying conservative stocks. BUT, whatever the investment class is, if your WL is telling you to buy into it, take that with a grain of salt. If your ML/WL told you now is the time to buy BHP, or Westfield, would you?

Yes, the crypto doubters of 5, 4, 3, 2 and 1 year ago were wrong, and said it will fall any day now and were wrong, and missed out on so much money doing that. BUT, now that crypto is mainstream, truly mainstream, and even WLs are getting on board, how confident are you in holding for longer? IS this an investment you could hold for ten or more years? Would you be confident putting your savings into it and never even checking it? If it's a well managed, solid investment, in most cases you should be able to.

Another note, bubbles can continue for a long time. Holland's infamous (and somewhat exaggerated) 'Tulip Frenzy' lasted 3-4 years at its peak. The South Sea Company bubble lasted 3 years. The Dot Com Bubble took 5 years to dip, and 6 to completely crash.

It’s only a bubble if it bursts.
09-01-2022, 10:17 AM
chaoticpotato

I do think crypto is in a bubble and there will still be a huge correction. In saying that I am probably one of the few here that strongly believe in the future of crypto and I wont be exiting the market any time soon (despite the crash coming). I look forward to the day when I can pay for WL services with my web3 crypto wallet on my phone and show my VIP NFT which gives me "special" privileges... haha :smile:
09-01-2022, 12:40 PM
cumquat

I’ll step aside from the BS , sarcasm that really is a poor mask for , slut shaming and guffaw guffaw as we rest our beer enhanced bellies on our belts

Really, so all who work in the sex industry (of course aside from the male shop owners) are not able to have an educated valid opinion on anything other than their ability to determine whether a punter is a moron … really

Fred I got your point on the bell hops, before you had to lay it out in full . knew the urban myth already . Question for you , why didn’t you steer her right your favoured regular and push her toward vanguard ?
09-01-2022, 12:51 PM
cumquat

P.S I got no real buy in on the thread let alone crypto over , shares over property over classic cars or art

However , more than one sex worker I know purchased multiple bitcoin. When it was less than 5k

The acquisition Doesn’t make them smarter , but they made a calculated educated risk.
09-01-2022, 01:25 PM
Fred Flintstone

Quote:

Originally Posted by TheHonDominicPinochet

It's pretty obvious that the only respect you have for women is whether you want to fuck them or not. And even then your underlying disdain is obvious.
Almost like you're from the stone age!

With a measly four posts to your name, and without ever having met me, you are not in a position to pass judgement.
09-01-2022, 01:32 PM
Fred Flintstone

Quote:

Originally Posted by cumquat

Fred I got your point on the bell hops, before you had to lay it out in full . knew the urban myth already . Question for you , why didn’t you steer her right your favoured regular and push her toward vanguard ?

It doesn't need to be viewed as slut shaming. If my lawn mowing contractor gave me share trading or crypto tips, I too would be wondering what is going on. It doesn't mean I treat the lawn mowing contractor or the hooker disrespectfully.

I didn't say a word to the girl. Just listened to her opinion and stayed silent, before going into the shower. Not my role to give out unsolicited investment advice. Too many punters here are getting involved in working girls' lives and it never ends well. I just pay my money, enjoy the service and then leave.
09-01-2022, 02:03 PM
rooter

As long as there are people entering the crypto market then it will keep going up.
There are 8 billion people in the world and they are all potential investors.
It may seem like every man woman and their dog is already in crypto but it is still only a tiny percentage of the worlds population.
Whether bitcoin has any intrinsic value or there are solid economic foundations to it is irrelevant.
As long as it’s rising then more people will buy in and push the price up, and that will bring in more investors and on it goes
Is it a bubble? Of course it is.
Will it burst? Of course it will.
But a lot of people, many of them uneducated, will make lots of money before that happens.
The worst thing you can do as an investor is to think it’s too late to enter the market or that you missed out or you should have invested 5 years ago or 5 months ago. That’s a loser attitude. It’s never too late to buy into a rising market.
There is always a bigger sucker than you that you can sell to.
You just have to make sure you are not the last sucker and left holding a bunch of tulips or tokens ;)
09-01-2022, 03:03 PM
JohnJones

I don't like crypto & stock markets. You're basically making money off people's mishaps.

The science of most paper/digital assets is like this - 90 percenters get duped into buying an asset, price go up. The 10 percenters who had bought the same asset at a cheaper price way earlier than the 90 percenters sell their remaining assets to make a profit. In the end these 90 percenters lose out and have to wait until another event triggers a bull market so that they can either sell at equanimity or at a slight profit, but most of them will likely be duped to sell at a loss to "recover" any remaining capital. Then it's rinse and repeat again to make the 10 percenters rich.

If you really want to have better financial stability then you need to be able to create value and learn how to manage money properly. Spending your paycheck balances on punting immediately is the fastest way to get poor. Wasting time not upskilling yourself in order to get a better paying job or to start a business is stupidity. Believing your boss's words that he will give you a promotion, pay rise and a fat bonus is also dumb loyalty.

Currently I own property and high-dividend stocks (30% annual payout). Once I own enough of both I plan to start a business overseas and expand from there. Punting overseas would be cheaper than here and I can get better quality wives out there as well.

I'd say punting here in Sydney can be fun but slowly the industry here is being ruined by grannys and princesses being accepted as WLs. Once I get the chance to leave Sydney I don't think I'd miss punting here at all.
09-01-2022, 03:56 PM
footboy2012

Blockchain will be part of our future and the average punter won’t know they are using it, but that doesn’t change the fact crypto is a bullshit, pump and dump scheme and largely narrative driven. This is coming from someone who has made a SOLID amount this year from getting in to fantom and solana very early (7 figures profit).

As an aside, I couldn’t think of anything worse than trying to get rich slow on index funds and vanguard ETFs. Dumbest strategy the finance industry will try to ramp to you.

You go to the stock market after you have made money, for your 6-7% long term return. Go build a business or invest in early stage investments, not buying shit like apple where some angel investor has already made 10,000x and using you and retail super funds as exit liquidity.
09-01-2022, 04:28 PM
GoldfishMan

Quote:

Originally Posted by JohnJones

I don't like crypto & stock markets. You're basically making money off people's mishaps.

The science of most paper/digital assets is like this - 90 percenters get duped into buying an asset, price go up. The 10 percenters who had bought the same asset at a cheaper price way earlier than the 90 percenters sell their remaining assets to make a profit. In the end these 90 percenters lose out and have to wait until another event triggers a bull market so that they can either sell at equanimity or at a slight profit, but most of them will likely be duped to sell at a loss to "recover" any remaining capital. Then it's rinse and repeat again to make the 10 percenters rich.

If you really want to have better financial stability then you need to be able to create value and learn how to manage money properly. Spending your paycheck balances on punting immediately is the fastest way to get poor. Wasting time not upskilling yourself in order to get a better paying job or to start a business is stupidity. Believing your boss's words that he will give you a promotion, pay rise and a fat bonus is also dumb loyalty.

Currently I own property and high-dividend stocks (30% annual payout). Once I own enough of both I plan to start a business overseas and expand from there. Punting overseas would be cheaper than here and I can get better quality wives out there as well.

I'd say punting here in Sydney can be fun but slowly the industry here is being ruined by grannys and princesses being accepted as WLs. Once I get the chance to leave Sydney I don't think I'd miss punting here at all.

If you've got residential investment properties, then sorry mate, you're also screwing people for your own profit. By owning more than what you actually need (5-10 roofs instead of just the 1 over your head), you're part of the problem that is screwing the next generations of homeowners, or shall we say failed homeowners. There's no sugar coating it, that's the effect of investing in residential real estate.

If you're into commercial real estate like shopfronts, then you can sleep well with a clear conscience, lol!
09-01-2022, 04:44 PM
footboy2012

Quote:

Originally Posted by GoldfishMan

If you've got residential investment properties, then sorry mate, you're also screwing people for your own profit. By owning more than what you actually need (5-10 roofs instead of just the 1 over your head), you're part of the problem that is screwing the next generations of homeowners, or shall we say failed homeowners. There's no sugar coating it, that's the effect of investing in residential real estate.

If you're into commercial real estate like shopfronts, then you can sleep well with a clear conscience, lol!

i personally have 4 resi properties (mix of units and townhouse) and I think it is providing a service to people - i.e. I personally don't care about pets, always fix problems and generally only raise rents every 2 years within market rate

I don't think anyone is being screwed - the government is unable to provide houses for everyone, so they need private landlords to increase supply
09-01-2022, 04:45 PM
footboy2012

Quote:

Originally Posted by JohnJones

I don't like crypto & stock markets. You're basically making money off people's mishaps.

The science of most paper/digital assets is like this - 90 percenters get duped into buying an asset, price go up. The 10 percenters who had bought the same asset at a cheaper price way earlier than the 90 percenters sell their remaining assets to make a profit. In the end these 90 percenters lose out and have to wait until another event triggers a bull market so that they can either sell at equanimity or at a slight profit, but most of them will likely be duped to sell at a loss to "recover" any remaining capital. Then it's rinse and repeat again to make the 10 percenters rich.

If you really want to have better financial stability then you need to be able to create value and learn how to manage money properly. Spending your paycheck balances on punting immediately is the fastest way to get poor. Wasting time not upskilling yourself in order to get a better paying job or to start a business is stupidity. Believing your boss's words that he will give you a promotion, pay rise and a fat bonus is also dumb loyalty.

Currently I own property and high-dividend stocks (30% annual payout). Once I own enough of both I plan to start a business overseas and expand from there. Punting overseas would be cheaper than here and I can get better quality wives out there as well.

I'd say punting here in Sydney can be fun but slowly the industry here is being ruined by grannys and princesses being accepted as WLs. Once I get the chance to leave Sydney I don't think I'd miss punting here at all.

this is quality information here

use passive income to pay for punts (and toys)
09-01-2022, 05:22 PM
Ziggurat

Quote:

Originally Posted by footboy2012

that doesn’t change the fact crypto is a bullshit, pump and dump scheme and largely narrative driven.

Your track record is good in it though! What forms of crypto do you therefore see with potential in the medium term?
09-01-2022, 05:31 PM
Climax598

Quote:

Originally Posted by GoldfishMan

If you've got residential investment properties, then sorry mate, you're also screwing people for your own profit. By owning more than what you actually need (5-10 roofs instead of just the 1 over your head), you're part of the problem that is screwing the next generations of homeowners, or shall we say failed homeowners. There's no sugar coating it, that's the effect of investing in residential real estate.

If you're into commercial real estate like shopfronts, then you can sleep well with a clear conscience, lol!

You have to screw someone to make a profit except that you screw a WL so they can make some income from you. We live in this world everyone screw everyone as they say nothing personal is all about survival.
09-01-2022, 05:40 PM
GoldfishMan

Quote:

Originally Posted by Climax598

You have to screw someone to make a profit except that you screw a WL so they can make some income from you. We live in this world everyone screw everyone as they say nothing personal is all about survival.

Couldn’t agree more. As the saying goes, one man’s loss is another man’s gain. That is completely true in any investment vehicle you choose.
09-01-2022, 06:02 PM
Ziggurat

Quote:

Originally Posted by GoldfishMan

As the saying goes, one man’s loss is another man’s gain. That is completely true in any investment vehicle you choose.

Not exactly. eg. Residential propery investment is a bit like reverse child sponsoring. In that case you get updates on the child's progress and nice photos of them. Your investment in them is personalised. The same is true with residential property. It is personalised. You know it is just one individual person you are riding on. Sitting on their shoulders as they groan under your weight, occasionally beating them with a riding crop.

It is why I've avoided that form of investment, at night in bed I just couldn't stand that thought. I prefer that my investment is spread painlessly over many stocks. A lot may lose a little to benefit you but they don't feel it.

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