Could Rolex prices come over all Bitcoin?

[Gekota]

Originally Posted by 1665fan

I put 3800$ and I say its terrible….down to about half that…..shi*coin money going to cryptona…..one part of the equation to it being worth 50k

Speaking with 20/20 hindsight (no memestock hindsight dw), if only that $3.8k was channelled towards a vintage / classic 34 / 36mm Rolex back then...

[huncho]

Originally Posted by 1665fan

I put 3800$ and I say its terrible….down to about half that…..shi*coin money going to cryptona…..one part of the equation to it being worth 50k

sounds like you had fomo and bought the actual top without doing any research. in that time frame you would still be down 25-50% on hundreds of stocks that are actually good companies

[macrowatch]

Originally Posted by enjoythemusic

A bit of info for those curious. Bitcoin is not fractionally reserved, it can not be 'created out of thin air' by the trillion$ as central bank currency is today.

No, no, no. You have it all wrong. USD doesn't get made out of thin air. According to my kids, it grows on trees and you need to grab the ladder out of storage and climb up to pick them off the branches.

[WatchNutcase]

Originally Posted by macrowatch

No, no, no. You have it all wrong. USD doesn't get made out of thin air. According to my kids, it grows on trees and you need to grab the ladder out of storage and climb up to pick them off the branches.

Yes in Cannabis legal states

[macrowatch]

Originally Posted by WatchNutcase

Yes in Cannabis legal states

Nice one WatchNutcase.

But Man, that's so Millennial. Trees to tall and too much work...better to trim leaves only at shrubs height.

[enjoythemusic]

Originally Posted by WatchNutcase

Yes in Cannabis legal states

Ahhh, that's an all-cash crop (for the time being). The central banks are reeeeally missing out.

Remember: 'Cash businesses' greatly helped the banking system during the 2008 crisis. Just some food for thought, gentlemen.

[hcivic91]

Asset markets such as crypto, equities and housing are an excellent proxy for household net worth. Luxury purchases are positively correlated with changes in household net worth. Views contra to this is inconsistent with states of the world I am familiar with.

Second, while there are many merits of crypto and even more so blockchain to think that policy will follow this logic are also likely flawed. Over the short and mid-range (1-Day to 7-years) the Fed will continue to control monetary policy, whether fiat or digital.

[dtwer]

Originally Posted by 1665fan

I put 3800$ and I say its terrible….down to about half that…..shi*coin money going to cryptona…..one part of the equation to it being worth 50k

Doesn't matter what the number says. As long as you don't sell, you are not losing anything.

[V25V]

Originally Posted by Hollie_Rollie

That’s Cool. My AD is in the United States, maybe that provides some better context.

And that’s great, statistically not many have your discipline


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I do not think the AD's care. I buy from an AD in a major market and have always given him my amex. I recall asking him if it made a difference in price (pre craziness) to get a bit more of a discount and he said no, just a matter of if I wanted the points or not. Since then I have always used my card.

And I am sure there are plenty of people who do in fact finance these purchases. Not saying that is a good idea but you would be naïve to think otherwise.

[enjoythemusic]

^^^ Formula car drivers are smart.

We like more points :)

[1665fan]

Originally Posted by dtwer

Doesn't matter what the number says. As long as you don't sell, you are not losing anything.

I feel the same way…….I’m not buying anymore that’s for sure……more power to someone else I’ll go in more traditional routes…….

[Bruno007]

Originally Posted by Hollie_Rollie

Gotcha. I never bought from a grey so I have 0 knowledge of what forms of payment they accept.

I assumed the AD cash policy for hot items was standard practice. It makes sense, when you pay credit the business accepting the CC gets hit with fees. Why should they get hit with a fee when they have 100s of people willing to hand over cash …


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My AD always prefers cash, check, or debt card over credit cards for Rolex. But he will accept my credit card, although he always grumbles because the fees cut into his profit margin, especially when there are tons of people that would and can pay cash. I like to use my card to take advantage of the points.

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[Chester01]

Market down 1000 at one point today. We will see. I can see gray dealers pulling back and all the sudden the AD may start to realize who the real customers were all along.

[enjoythemusic]

Originally Posted by Chester01

Market down 1000 at one point today. We will see. I can see gray dealers pulling back and all the sudden the AD may start to realize who the real customers were all along.

Meh, we need a 30% correction for it to even really matter IMHO, and even then the market is still far overvalued IMHO. High inflation could keep the market high(er), so that's good for basic numbers people... yet has no 'real bearing' on real value (constant) when you devalue 10% annually.

Did BlackRock's trading desk go down?

Ahh, BlackRock's trading desk must be back up.

[Moondoggy]

Originally Posted by enjoythemusic

Meh, we need a 30% correction for it to even really matter IMHO, and even then the market is still far overvalued IMHO. High inflation could keep the market high(er), so that's good for basic numbers people... yet has no 'real bearing' on real value (constant) when you devalue 10% annually.

Did BlackRock's trading desk go down?

Ahh, BlackRock's trading desk must be back up.

Primarily correct, we all go on about drops corrections 10-15% is nothing minimum 30% plus makes the ground shake.

[supernova]

Luxury watch prices and Crypto are definitely correlated, however, watches don't fluctuate as much. But if Crypto stays low over the coming year, then I do expect watches to come down in coming year.

Will definitely not be a sudden crash in watches. Might even be an increase in the short term as crypto selloff does mean alot of folks cashed out a bunch and now looking for somewhere else to park their cash.

[JSolution]

Originally Posted by supernova

Luxury watch prices and Crypto are definitely correlated, however, watches don't fluctuate as much. But if Crypto stays low over the coming year, then I do expect watches to come down in coming year.

Will definitely not be a sudden crash in watches. Might even be an increase in the short term as crypto selloff does mean alot of folks cashed out a bunch and now looking for somewhere else to park their cash.

Right back into crypto I would imagine

[aceofangel]

We will need to see a wider economic meltdown for Rolex prices to fall. When the capital (and crypto) market do well, people feel wealthier and are more likely to spend on luxury goods. However when returns tank, people are just as likely to buy Rolexes as a store of value. There is definitely a ceiling though, as price goes up the luxury goods factor may go down. I'd expect less sought-after models to continue to appreciate.

[ronricks]

Until there are actual watches in AD cases to buy not much is going to change. There is way more demand than supply for Rolex watches from AD's.

[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 :)

[BraveBold]

I’ve held crypto for about a decade.

Despite this (and despite not selling at peak) I see the majority failing and Bitcoin likely to ultimately fail. This failure can be through banning or through intrinsic factors. Most proponents don’t understand crypto and a sizable majority are supporters solely because vocal support is seen as one of the (limited) paths to profiting (similar to a Ponzi scheme).

Ownership in Bitcoin is horrifically concentrated and most use cases are nefarious. My only reason for owning is because my mantra for investing is “diversification above all” and market idiocy can be prolonged and extreme.

[RichardBartlett]

Originally Posted by BraveBold

I’ve held crypto for about a decade.

Despite this (and despite not selling at peak) I see the majority failing and Bitcoin likely to ultimately fail. This failure can be through banning or through intrinsic factors. Most proponents don’t understand crypto and a sizable majority are supporters solely because vocal support is seen as one of the (limited) paths to profiting (similar to a Ponzi scheme).

Ownership in Bitcoin is horrifically concentrated and most use cases are nefarious. My only reason for owning is because my mantra for investing is “diversification above all” and market idiocy can be prolonged and extreme.

I thought the nefarious part had mainly been debunked. Similar to Richard Mille watches being used to transport money as assets aboard between various suspect persons or persons unknown . It was actually a very small part of the whole.

We've been in crypto for a few years and our portfolio is down but slowly returning. The smaller speculative coins will fail over the next couple of years as the herd gets thinned out.

My main holding is XRP which I'm hoping will eventually emerge as the main real world token. For two reasons, Firstly America seems shit scared of XRP and has been trying to kill it (see above) to protect the dollar and central banking and secondly the Rothchilds know a thing or two about money..

Eventually USA will find a way to 'regulate' (IE take control) and then suddenly it will be the best thing since sliced bread.

[amh]

Originally Posted by BraveBold

I’ve held crypto for about a decade.

Despite this (and despite not selling at peak) I see the majority failing and Bitcoin likely to ultimately fail. This failure can be through banning or through intrinsic factors. Most proponents don’t understand crypto and a sizable majority are supporters solely because vocal support is seen as one of the (limited) paths to profiting (similar to a Ponzi scheme).

Ownership in Bitcoin is horrifically concentrated and most use cases are nefarious. My only reason for owning is because my mantra for investing is “diversification above all” and market idiocy can be prolonged and extreme.

Agree.

Now blockchain is a different matter, it has many applications. But Blockchain /= Bitcoin. (I think this point is always avoided when BTC advocates say "You must understand then technology first, then you'll like Bitcoin.")

[Besttime]

Rolex is far better IMO, Rolex has stood the test of time, Crypto values decreases rapidly at different intervals, real estate is the only asset beating Rolex.

[BraveBold]

Originally Posted by RichardBartlett

I thought the nefarious part had mainly been debunked. Similar to Richard Mille watches being used to transport money as assets aboard between various suspect persons or persons unknown . It was actually a very small part of the whole.

We've been in crypto for a few years and our portfolio is down but slowly returning. The smaller speculative coins will fail over the next couple of years as the herd gets thinned out.

My main holding is XRP which I'm hoping will eventually emerge as the main real world token. For two reasons, Firstly America seems shit scared of XRP and has been trying to kill it (see above) to protect the dollar and central banking and secondly the Rothchilds know a thing or two about money..

Eventually USA will find a way to 'regulate' (IE take control) and then suddenly it will be the best thing since sliced bread.

Nothing debunked about nefarious use. Likely just re-contextualized to say “only 0.1% of crypto is used for illegal purposes”… or something along those lines.

Failing to mention that less than 1% of crypto is “used” for any purpose at all other than speculation hahah. That is likely being generous too.

I bought in early enough that it’s all gravy. However, I never fully bought into the narrative particularly because there was usually a “type” among my friends that were the aggressive advocates. The same types that were outright gamblers or into get-rich-quick schemes.

The other part was the clear lack of understanding of most people who subsequently bought in on what blockchain could, and could not, do, and the relative costs associated with it.

Blockchain as a whole is a great innovation. Not on par with the internet but very much a “killer application” within. But the values being attributed to various coins and the drivers of those valuations are not well founded. They are speculative and likely to result in mostly financial heartache.

[enjoythemusic]

Originally Posted by BraveBold

Failing to mention that less than 1% of crypto is “used” for any purpose at all other than speculation hahah. That is likely being generous too.

Excellent point.

Wonder what percentage of Federal Reserve Debt Note Dollars are used for nefarious reasons (daily drug deals for many decades, government bribes, illegal donations to election campaigns, buying foreign information, stock market / commodities manipulation, illegal gambling, illegal sex workers, war crimes, etc). Anyone know?

[RichardBartlett]

^as you say the drug laundering dollar is massive. Pablo had billions buried in his garden for instance.


That Warren woman bleating on and on about how crypto is the end of the world as we know it.. Makes me wonder who's pulling her strings..?

On that note loving Vivek outing all the blatant corruption within USA politics was hilarious as the other 3 all have their noses in the tough so could do nothing but keep stum!! Hilarious!
The sad irony is the American public "can't handle the truth" as they want to maintain their innocence and pretend politicians have their best interests in mind..Hence the boo'ing as he spoke about it

Americans are great but at times very puzzling. No outcry about the Epstein flight list, the so called insurrection which was full of FBI agent provocateurs ,bent judges bought off by bribes and gifts pandering to their paymasters, politicians blatant and quite obscene insider dealing with their sheer contempt for their voters, presidents starting wars to launder tax payers money. the list is endless.

Then politicians setting voters against each other to ensure nothing changes and the gravy train keep chugging along..

As I see it, the two leading contenders are
1, a geriatric with severe dementia being systematically abused and controlled by an ex president
2, a geriatic with extremely dodgy business practices and was happy to abuse his power around less powerful people or those who wanted to 'rub off' (in all senses of the word) against him.. He shat out when he promised to reveal the Jfk files so he's not quite what he says he is either tbh.

Only two standout candidates for me
RFK Jr
Vivek

Sadly America doesn't have the balls or gumption to vote in either; sad as that may seem..

^IMHO^

[EEpro]

Originally Posted by RichardBartlett

^as you say the drug laundering dollar is massive. Pablo had billions buried in his garden for instance.


That Warren woman bleating on and on about how crypto is the end of the world as we know it.. Makes me wonder who's pulling her strings..?

On that note loving Vivek outing all the blatant corruption within USA politics was hilarious as the other 3 all have their noses in the tough so could do nothing but keep stum!! Hilarious!
The sad irony is the American public "can't handle the truth" as they want to maintain their innocence and pretend politicians have their best interests in mind..Hence the boo'ing as he spoke about it

Americans are great but at times very puzzling. No outcry about the Epstein flight list, the so called insurrection which was full of FBI agent provocateurs ,bent judges bought off by bribes and gifts pandering to their paymasters, politicians blatant and quite obscene insider dealing with their sheer contempt for their voters, presidents starting wars to launder tax payers money. the list is endless.

Then politicians setting voters against each other to ensure nothing changes and the gravy train keep chugging along..

As I see it, the two leading contenders are
1, a geriatric with severe dementia being systematically abused and controlled by an ex president
2, a geriatic with extremely dodgy business practices and was happy to abuse his power around less powerful people or those who wanted to 'rub off' (in all senses of the word) against him.. He shat out when he promised to reveal the Jfk files so he's not quite what he says he is either tbh.

Only two standout candidates for me
RFK Jr
Vivek

Sadly America doesn't have the balls or gumption to vote in either; sad as that may seem..

^IMHO^

Earned a follow

The traceability of the ledger and inability to print on demand is probably why they are scared of it.