Could Rolex prices come over all Bitcoin?

[LouG]

I imagine there are two kinds of Rolex buyers. There's (A) the buyer who pays with recurring income (let's call this buyer the "Lebron James" example) and (B) the buyer who pays with capital appreciation (let's call this buyer the "I make $50k-$100k per year but I made a fortune on paper in crypto" example).

Buyer (A) isn't going to lose sleep if their crypto or traditional investment account falls in value. They are most likely so well diversified and their recurring income is more than sufficient to cover their living needs, including new car or Rolex purchases.

Meanwhile, buyer (B) is quietly screaming inside as their investment portfolio is down 7%-10% in three weeks, and their crypto wallet is down 23% in the same period. Their job is getting a little more stressful, their health insurance premium just went up and if they have kids, forget it. This buyer may start to ask themselves if they need that second Rolex, or if they need the first one at all, and they may look to get out before their Rolex "investment' starts to take on water.

I certainly wouldn't expect a stock market or crypto correction to adversely affect the AD's business, but I have a hard time believing the grey market won't be adversely affected in some way for some period of time.

[Duey]

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

[SDGT3]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

You forgot NFT's...

[Duey]

Originally Posted by SDGT3

You forgot NFT's...

So true

[LouG]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

Agreed. But at what price? Is a Rolex a real asset at the retail cost or the (debatable) "market value" grey price?

And what is this "market value"? It's simply that - the amount for which something can be sold on a given market at a given time. I don't understand why some conclude that other markets can fluctuate yet deem Rolex grey market values as un-killable.

[TswaneNguni]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

Maybe the world is becoming stupider by the day ...

Somethings gotta give ..time to have a few gold coins under the bed.

[malba2366]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

Rolex at MSRP is a real asset. Rolex at inflated grey prices is no different than Crypto or NFTs - in all these cases the asset is only worth what the next guy is willing to pay which is a recipe for an eventual severe drop in price.

[nikhsub1]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

[enjoythemusic]

Originally Posted by nikhsub1

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

I'm 100% cool some don't get it. Not my problem. It's actually better this way, as it helps to moderate growth. Last week I had a wonderful conversation about money, currency, and... with someone who deals for many decades in such things. He was in his mid-60s.

Remember waaay back when people invested in McDonalds because they could see true growth while they also knowing their investment supported good jobs for American families. Possible growth and multiple on the stock back then was ____ versus growth possibility today yet trading at a multiple of _____. C'mon classic investors, fill in the blanks for me and explain why the multiple difference makes mathematical sense.

[ce027772]

Originally Posted by nikhsub1

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

If crypto is the future, it's not going to be limited to bitcoin. There is nothing unique about bitcoin. It's just one digital product of crypto technology. There can be millions more applications of the same technology. If Rolex was that easily replicated, it would not be worth anything.

[nikhsub1]

Originally Posted by ce027772

If crypto is the future, it's not going to be limited to bitcoin. There is nothing unique about bitcoin. It's just one digital product of crypto technology. There can be millions more applications of the same technology. If Rolex was that easily replicated, it would not be worth anything.

Agreed but it was the first - maybe it is like the AOL of crypto? Time will tell I guess.

[ce027772]

Originally Posted by nikhsub1

Agreed but it was the first - maybe it is like the AOL of crypto? Time will tell I guess.

First-mover advantage is a big thing, but it does not guarantee success for an indefinite period of time. When there are other products of the same technology that are equally good, why would you buy the most expensive one? Also, any technology evolves. I am not a tech person, but it's obvious that there will be others who will compete with Bitcoin, including governments with digital currencies.

[Faze101]

Originally Posted by nikhsub1

You sound like the people that said the 'internet' was just a fad too and will die. If you look at the history of bitcoin, it always does what it is doing right now. People said it would go to zero at $1k, $5k, $10k, $20k, $30k etc etc etc. Crypto is the future, believe it and like it or not. Bitcoin will be over $70k before you know it - and I'll bump this thread when it does.

I’ll bump it for you don’t worry. No point trying to educate people on BTC if they don’t want to understand its use in the real world. Many of these anti-bitcoin folk on here will own BTC one day - at the price they deserve.


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[0nly5iv3Digits]

Originally Posted by Faze101

I’ll bump it for you don’t worry. No point trying to educate people on BTC if they don’t want to understand its use in the real world. Many of these anti-bitcoin folk on here will own BTC one day - at the price they deserve.


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Glad to see someone else who has put in the work and isn't just spewing establishment-sanctioned rhetoric (without even realizing it!)

[JSolution]

Originally Posted by Faze101

I’ll bump it for you don’t worry. No point trying to educate people on BTC if they don’t want to understand its use in the real world. Many of these anti-bitcoin folk on here will own BTC one day - at the price they deserve.


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I invest in and trade crypto and whilst I believe very strongly that Bitcoin will have a cemented future in our economy. I do not believe its use will ever be as currency, for the most part. It is however proving, albeit with a lot still to prove - as an asset class that’s still in its relatively early days. The REAL use case in having total control over your own money, in my opinion. I’m sure most of us here have had issues at some points making large transactions, wanting to invest a large amount of money with the bank almost convincing you not to, bank accounts frozen etc etc etc. Trying to withdraw cash is a procedure in itself.

On topic - I see zero correlation with watch prices and crypto :)

[Sandpit]

Originally Posted by Duey

The value of Bitcoin, Crypto, is a pandemic driven Make Believe asset right now. A Rolex is a real asset.

It's just like Crypto, Bitcoin and all the others. The world is now pretending things are real and people are paying and gambling on non-real things. It will claps and hard too.


It's all Make Believe - It's not real in any way shape or form !!

Only putting value to something you can hold in your hand is a bit of a backward way of thinking.

Most of my money is in the stock market. I can never get my hands on that. Is that make believe?

Most of the money in existence today has been made out of thin air. Is that still a “real asset” if something can just be made up?

People just like to trash crypto because they don’t understand it. And the comments by many here prove that.

[ndrs63]

Originally Posted by Sandpit

Only putting value to something you can hold in your hand is a bit of a backward way of thinking.

Most of my money is in the stock market. I can never get my hands on that. Is that make believe?

Most of the money in existence today has been made out of thin air. Is that still a “real asset” if something can just be made up?

People just like to trash crypto because they don’t understand it. And the comments by many here prove that.

I do understand crypto quite well. National currencies are backed by the respective economies. Bitcoin is nothing but some bytes is a very big files shared by millions of computers. That’s it, nothing more


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[ce027772]

Originally Posted by ndrs63

I do understand crypto quite well. National currencies are backed by the respective economies. Bitcoin is nothing but some bytes is a very big files shared by millions of computers. That’s it, nothing more


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National currencies are not backed by anything other than pure faith in the strength of the respective economy.

[ce027772]

Originally Posted by Sandpit

Most of my money is in the stock market. I can never get my hands on that. Is that make believe?

Most of the money in existence today has been made out of thin air. Is that still a “real asset” if something can just be made up?

People just like to trash crypto because they don’t understand it. And the comments by many here prove that.

Do you understand crypto? Do you believe in it? If so, why most of your money is in the stock market, not in crypto? Just curious.

[Sandpit]

Originally Posted by ce027772

Do you understand crypto? Do you believe in it? If so, why most of your money is in the stock market, not in crypto? Just curious.

I do believe in it yes, but I believe in diversification.

I'm not some yolo cryptobro that solely lives in a cryto investing world. Not everything has to be binary. I just hold a very small percentage of my overall portfolio for some exposure.

I also hold other forms of investments and assets. Why, if i believe in something, should I have to go all in on it? Ridiculous thing to say

[ce027772]

Originally Posted by Sandpit

I do believe in it yes, but I believe in diversification.

I'm not some yolo cryptobro that solely lives in a cryto investing world. Not everything has to be binary. I just hold a very small percentage of my overall portfolio for some exposure.

I also hold other forms of investments and assets. Why, if i believe in something, should I have to go all in on it? Ridiculous thing to say

So, you you don't hold much money in cryptos, just "a very small percentage", you invest in stocks, which represent real businesses, which presumably operate in the real world, but you claim that money is made out of thin air? Hmmm. Doesn't make much sense.

[1665fan]

Originally Posted by Sandpit

I do believe in it yes, but I believe in diversification.

I'm not some yolo cryptobro that solely lives in a cryto investing world. Not everything has to be binary. I just hold a very small percentage of my overall portfolio for some exposure.

I also hold other forms of investments and assets. Why, if i believe in something, should I have to go all in on it? Ridiculous thing to say

“Very small percentage” smart move….. crypto is garbage

[ALF61]

Originally Posted by marmite2005

With Rolex mania in full swing over the past 4 years, could the tide the turn as quickly as Crypto price mania?

One minute bitcoin is going to 100k, next minute its falling and cant hold 40k, 38, 36k......with everyone selling.

Could the new money drain from watches as quick, no one needs a watch, everyone has a smart phone. As soon as the market understands that, surely the inflated prices could collapse? Good news for WIS

No. Rolex is tangible. You want one? Get in line and come up with every penny. Rolex watches are not leveraged and are the modern Gold store of value.

[krubs]

On one hand, yes Rolex are real and physical. The problem is that they still make them. There will always be an increasing supply. Unless it's a discontinued model.

With Bitcoin, there will only ever be 21 million. It's no more of a "fake" asset than buying stock in a company through a broker. Bitcoin exists on the blockchain. It's not fake or make believe. Some of you sound like boomers lol

[Duey]

Originally Posted by krubs

On one hand, yes Rolex are real and physical. The problem is that they still make them. There will always be an increasing supply. Unless it's a discontinued model.

With Bitcoin, there will only ever be 21 million. It's no more of a "fake" asset than buying stock in a company through a broker. Bitcoin exists on the blockchain. It's not fake or make believe. Some of you sound like boomers lol

The Blockchain is based on mathematics , aka mathematical equations. The blockchain it's self is not a real asset, no matter how many people tell you it is.
It is exactly the definition of a fake asset. The fact that someone will pay money for it does not make it real.

Look up "real" in the dictionary - actually existing : not imaginary : not fake, false, or artificial

It's all Make Believe - It's not real in any way shape or form !!


A Rolex is real in every way shape and form there for as an asset it has a value.

[Soultime]

Originally Posted by krubs

Some of you sound like boomers lol

So anyone who doesn't agree with your opinion can be disregarded and belittled by using an ageist insult?

[DadFuelBBQ]

The amount of disdain in here for crypto excites me, we are still early!

[jaychief]

Just saw these….


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[Golfbone]

The difference between watches and Bitcoin is that a Rolex is something we physically can wear and want. To own, to put on, to be seen with and to enjoy. Bitcoin is just a financial concept....not a toy that brings out your inner child like a Daytona or Sky dweller. You wanna make your wife happy? Give her a Tiffany OP 36mm. A Bitcoin? Feh.

[Moondoggy]

Crypto and NFT’s really are made up by clever people who missed the real estate game. I like dirt even when your mining or digging or scratching away in search for something that doesn’t exist you are on dirt.