Bitcoin Bubble


#2289

One plumber charged me $15k to replace an entire sewer lateral… I didn’t know better at the time and gave in… :nauseated_face:


#2290

Sound like you’re soliciting partners in your endeavor. Tell us more during meet up about your business plan :grin:


#2291

Since I understood his concept from 2008 BAC purchase at 5 range, I strongly believe in his decision. I even regret selling AAPL after I bought at $95! Now, hold for long


#2292

the trading volume on GDAX (Coinbase) for BTC/ USD is really high now. Since I’ve been watching it, the volume was typically around 15k BTC per day ($180M). On weekends, it would be 8k BTC in 24h.

Since last night, it’s been much higher. GDAX shows right now 40,993 BTC during the last 24h. Even with the lower value, that’s twice as much (41k*9k = $369M).

2 theories.

  • people bought and possibly still buy BTC on the Hongkong exchange with Tether and sell in on the US-based exchange for $
  • wales who owned for many years decided it’s time to get out and dump at a much higher rate

The total market cap of BTC is not what people put in because most owners bought when the price was well under $1000/BTC. So, if suddenly all BTC come for sale, there’s not enough cash to absorb it.

This is much like real estate in an area where the average resident is priced out. As long as only 2 or 3% of all properties are listed for sale, there will be enough capable buyers. Put 30% of the properties for sale and all hell will break lose.


#2293

with perfect timing my gain would’ve been around 30%… not interested in short-term gains. I believe the value will rise much higher. I would not have sold had it reached $25000


#2294

In other words, RE ownership is not as safe as what BAGB makes up to be. Is not a revenue generating/ income producing asset unless is a rental. Quite often the market price of the house diverts from its intrinsic value arising from its rental potential. This is what is happening in SV due to low inventory, making buying for rental highly risky as we don’t know when market would decide to revert to its intrinsic value.


#2295

The money is in day trading and getting 30% ten times is good money. This is a traders game… not for investors.
You and I should be buying plumbing companies instead


#2296

I just looked on Craigslist. There is no plumbing company for sale in all of Bay Area. There is one down in Monterey. Didn’t check mls or loopnet.


#2297

Just start with one plumber. $100k to start. Much cheaper than buying. You have got a future client list right here…


#2298

No I don’t have anything to offer yet.

Many people try to mimic Buffett but I haven’t heard of anyone trying to buy whole businesses like Buffett does. I think that’s yin for the “buy stock and never sell” yan. If you don’t have increasing cash inflow where do you come up the money to buy new stocks?

For us small investors buying something lucrative like plumbing makes very good sense.


#2299

Here you go
This guy is looking for money… Better than bitcoin at least… lol

Greetings from Dubai Hello it’s my pleasure to meet you on here So can we know more about each other now?
My name is Mr.suvo sarkar for Dubai United Arab Emirate
I have a business proposal i want to share with you that will be a great benefit for both of us.Let me know your mind
which will be of great benefit to both of us, kindly respond to my private email address (suvosarkar5040@gmail.com) for more details.

Sincerely,
Mr. suvo sarkar
Emirates director


#2300

There are a few websites that focus on it. Some are mostly people selling franchises. Some are independent businesses. I looked years ago. There were a lot of franchises and liquor stores. Some were selling for little more than the value of inventory and taking over the existing lease.


#2301

So far, I find these handymen are run by ex-technician themselves, and their crews are usually ex-colleagues or friends. Other than plumbing, painting is also lucrative. Get one experienced painter + one odd-job man, you can do the “project management”. As your business expands, get more teams of two. I thought of it but I don’t have color sense, so can’t do :slight_smile: Oddly, you didn’t go into property management, say with wuqijun :slight_smile: and the other Sunset poster. All you three stay close together, right?


#2302


#2303

Damn, if we’re all posting our real profile pics, I guess I should change mine too :joy:


#2304

cough…ponzi …cough scheme.


#2305

You are trying a technical chart on bitcoin, but it does not behave this way as speculative interest is dying down!

The moment some keep the price, big companies will take profit.


#2306

Nice to have met you, Mr. Kwok! :rofl:


#2307

I’m pretty excited to meet Wallace “hanera” Chung soon :smiley:


#2308

Yes you will be in awe when you see him I’m sure about that… :rofl: