CRYPTOCURRENCY Chit Chat Thread

[Kusje]

My friend kenah the gold investment scheme a couple of years back. He and a few friends kongsi and bought a 1kg bar at 90k then.... He even went to register as an agent after getting his first payout. Then one week later the scheme collapsed and now they are stuck with 1kg gold bar which they can't sell for 90k.

好æ¯ä¸é¿

Your friend is a moron.

[Throttle2]

Your friend is a moron.

Muayhahahahahaha

 

 

[Ysc3]

Your friend is a moron.

since then, i have made fun of him every time i had the chance !! i will suan him "rich man with a piece of gold bar at home" !!   

 

he also kept persuading me to buy through him as an agent .... but luckily, i am a low risk taker .... so turned him down.

Edited December 23, 2017 by Ysc3

[Kusje]

since then, i have made fun of him every time i had the chance !! i will suan him "rich man with a piece of gold bar at home" !!   

 

he also kept persuading me to buy through him as an agent .... but luckily, i am a low risk taker .... so turned him down.

 

It isn't about being risk adverse. 

 

Gold is a commodity - the price for 1kg of gold is widely available as long as your are able to google it (@enye can help if one doesn't know how to google). Why would he vastly overpay for a 1kg of gold? 

 

In 2012, gold was slightly less than 75k per kg (highest in the past 10 years). It's one thing to buy it for 75k and then lose money because the price of gold fell but it's moronic to pay 100k for something worth 75k.

[Spring]

Some daring investors will surely move in to buy bitcoin now that the price has come down abit but will the MAS warning on being cautious on bitcoin be heeded? I look on with interest what will happen.

 

There is a saying you need to take big risks to get big returns but I am always sceptical on this though admittedly it is skeptics like me who get poor returns on conservative investments though I suppose we sleep better at night?

Edited December 23, 2017 by Spring

[Ysc3]

It isn't about being risk adverse. 

 

Gold is a commodity - the price for 1kg of gold is widely available as long as your are able to google it (@enye can help if one doesn't know how to google). Why would he vastly overpay for a 1kg of gold? 

 

In 2012, gold was slightly less than 75k per kg (highest in the past 10 years). It's one thing to buy it for 75k and then lose money because the price of gold fell but it's moronic to pay 100k for something worth 75k.

it was a scam lor ... tell "investors" to buy higher then "promise" them high returns for the extra they pay ... and they paid only for a while ... so "investors" were happy and more got onto the ship ... and then the boat sunk suddenly.

 

i think someone from the chevy forum last time made some money from it when the scam was in its beginning stage ... quick in and quick out.

 

my friend suay suay went in at the ending stage ... so he kenah con along with his friends.

[Showster]

My friend kenah the gold investment scheme a couple of years back. He and a few friends kongsi and bought a 1kg bar at 90k then.... He even went to register as an agent after getting his first payout. Then one week later the scheme collapsed and now they are stuck with 1kg gold bar which they can't sell for 90k.

好æ¯ä¸é¿

He is very lucky if he still has that 1kg gold bar.

 

Many other cases, the buyer only has a certificate that cannot be exchanged for anything.

Edited December 23, 2017 by Showster

[Throttle2]

it was a scam lor ... tell "investors" to buy higher then "promise" them high returns for the extra they pay ... and they paid only for a while ... so "investors" were happy and more got onto the ship ... and then the boat sunk suddenly.

 

i think someone from the chevy forum last time made some money from it when the scam was in its beginning stage ... quick in and quick out.

 

my friend suay suay went in at the ending stage ... so he kenah con along with his friends.

In MCF, all of us already warned that it was a scam back then.

Even a low iq person would know its a scam

Your friend deserved it very well, for his stupidity and greed

It would have been unfair if he got away unscathed.

 

[Ysc3]

In MCF, all of us already warned that it was a scam back then.

Even a low iq person would know its a scam

Your friend deserved it very well, for his stupidity and greed

It would have been unfair if he got away unscathed.

 

Edited December 24, 2017 by Ysc3

[kdash]

this kind of ppl very stubborn one ... never kenah bite, wun understand one.

 

same thing when i told him about car cams ... spend how many k to buy car ... dun want to buy even cheap car cam ... then one day his car ran over debris that fell from a truck right in front of him and undercarriage damaged .... then he ask me what is the cheapest car cam ??!!

 

anyway, those who entered the scam at the early age did make "bait" money ... but those who waited for confirmation... too bad.

haha there are people like that who only learn from personal experience...

[Ash2017]

talk about stupidity in investment

 

some people invest do anything and do everything to make money, they are really smart money wise

 

but some of these same people are downright dumb, they don't only neglect their health but also try to accelerate their own death

 

so who is smarter?

 

 

currently I am of the opinion that those who have good healtI until very old age and still got money to spend are the smartest of the lot

[Jamesc]

My friend kenah the gold investment scheme a couple of years back. He and a few friends kongsi and bought a 1kg bar at 90k then.... He even went to register as an agent after getting his first payout. Then one week later the scheme collapsed and now they are stuck with 1kg gold bar which they can't sell for 90k.

好景不长

 

If only he put the 90k into bitcoin as I suggested.

 

Imagine how rich he would be now.

 

[Hydrocarbon]

There's a lot of talk about Bitcoin, Eth, Lite, Dash and other cryptos, but not what it is or how it works. Anyway, I came across a great explanation videos that cleared up the air on crypto (most notably Bitcoin). If you're thinking of investing, just watch this first, so before throwing away a few hundred $$ or few k, spend 26 mins on the video:

https://youtu.be/bBC-nXj3Ng4

 

It not only touches on Bitcoin, but about the underlying technologies (Blockchain) which is a great invention / innovation.

Other things to learn about is how mining works, and why there's a (sort of) base price for BTC, based on electricity prices and how China miners are earning more than US or European miners (not this video).

[Throttle2]

Huat ah Huat ah

 

 

 

 

 

 

 

Note: Picture stolen from internet

[Kb27]

A decade or two from now, will we laugh at the people who buy cryptocurrenices or it has become mainstream usage ?

 

For now, I think it suits people like Escobar, if he was still alive.

Hiding tons of paper money hidden under mattress, cupboards, burying them, is not easy.

Having lots of bits coins is more useful.

[meowc4tz]

A decade or two from now, will we laugh at the people who buy cryptocurrenices or it has become mainstream usage ?

 

For now, I think it suits people like Escobar, if he was still alive.

Hiding tons of paper money hidden under mattress, cupboards, burying them, is not easy.

Having lots of bits coins is more useful.

 

Also hard to sell la. Coinbase limit is $3k a day leh. Want to sell $1 million worth of Bitcoin will take almost a year of selling, provided the price of Bitcoin did not fluctuate.    

[JonathanTan_197641]

hello u may wanna join this grp. its for beginners

https://t.me/joinchat/Ej9UuQmVbLzZAu0oFe9LGA

[Throttle2]

Also hard to sell la. Coinbase limit is $3k a day leh. Want to sell $1 million worth of Bitcoin will take almost a year of selling, provided the price of Bitcoin did not fluctuate.

Why use Coinbase in that case?