Bitcoin Approaching All Time High Price (Denominated in AUD), does it affect you?

techlead on 25/02/2024 - 10:56

As Bitcoin defies all the nay sayers yet again is on the cusp of creating a new all time high (in AUD), actual price $78700 AUD versus all time high of around $82800, for holders, are you thinking of selling or buying more? For non-holders, do you plan to buy more?

Very interesting to be doing comparisons with other investments, like property and shares. I cannot have accumulated my current net worth without bitcoin and other cryptocurrencies. I just did a stocktake recently and found out I now have more than 600BTC and I have yet to complete the stocktake as I still have addresses which have less than 0.2BTC which I have written off before because it was chump change, but now worth quite a bit (circa over $15k for the 0.2 BTC addresses).

I still cannot understand why property investment gets all the hype when it has been proven time and time again that Bitcoin returns are way way better. It just really boggles my mind, am I missing something here? I'm very excited for the Halvening and the upcoming bull market.

For the nay sayers, what does it take for you to change your mind about crypto? Government regulation has arrived, its virtually impossible for Western governments to ban Bitcoin.

Poll Options

  • 24
    I'm a holder of crypto and will sell asap
  • 272
    I'm a holder of crypto and will continue holding
  • 22
    I'm a holder of crypto and will continue to buy more
  • 10
    I'm not a holder of crypto and looking to start buying
  • 513
    I'm not a holder of crypto and don't plan to buy any
Financial Cryptocurrency

Comments

        • lltravel on 27/02/2024 - 12:50
          +2

          Email MicroStrategy and tell them to stop playing the bitcoin "game". a $11.66 billion dollar company.

          How much are you worth again?

          • netjock on 27/02/2024 - 14:55

            @lltravel:

            How much are you worth again?

            $470m, I haven't been bothered picking up the ten thousands here and there. Better believe it because it is on the internet.

            That is the same as, don't criticise Elon Musk because you haven't built a Tesla / SpaceX.

            Bitcoin degenerates throwing personalised insults when things get tough.

            $11.66 billion dollar company

            Maybe they should have got into banking, CBA is $195bn AUD market cap so what is that $120Bn USD?

            If they are that good at investing maybe they can try to overtake Berkshire Hathaway?

            You pull one and I'll show you one bigger.

            Bitcoiners never sell so since Bitcoin doesn't pay a dividend you guys are just asset rich but cash poor like boomers with their investment properties?

      • frostman on 26/02/2024 - 21:10

        are you stupid or just stupid?
        You can read the open source code and see that its decentralized .
        Yes you can buy a jetski, house, car , phone with btc,
        The reason why the banks have made BTC the enemy and clueless people like you eat it up is becasue they cant control BTC
        The government and banks can freeze your assets, you cannot freeze btc
        Its nothing like gambling at all. You clearly have zero knowledge of how btc works

        Ohhh Aaaa Ohhhh im using BTC, now the Government can't control me!! They can't touch my money
        Meanwhile:

        • You're Opal Travel is tracked
        • Metadata is tracked online
        • Credit card spend is tracked
        • House and mortgage and liabilities tracked
        • Medicare and Dr visits tracked
        • Mobile phone calls and sms are tracked.

        Woo hoo they can't control me.

        • lltravel on 27/02/2024 - 12:46
          -1

          You're Opal Travel is tracked - I dont use public transport
          Metadata is tracked online - I use a VPN
          Credit card spend is tracked - Correct it is, but i use cash for most things
          House and mortgage and liabilities tracked - That is correct, you don't own your house even if its paid off. Hence the comment above
          Medicare and Dr visits tracked - Barely visit the doctor, i dont eat processed food.
          Mobile phone calls and sms are tracked. - I use telegram to call of my friends, who uses sms these days?

          You missed the whole point, the government wants to keep its people slaved so they can continue to take our tax dollars.
          Control = more money for them

          Just have a look at how your tax dollars are used, you clearly don't care

          Why do you think the banks keep wanting to sell the agenda that BTC is a gamble when they allow you to spend money at the casino? Why not ban sports bet and all other betting apps? Because they know if people can control their own money they will be out of a job

          Banks rort us and you guys allow it. Keep doing it through. People blaming massive profits on supermarkets but fail to overlook the banks.

          btc is up to 83k today, enjoy your slavery.

          • netjock on 27/02/2024 - 14:57

            @lltravel:

            You missed the whole point

            You got that right about yourself. If humanity needed you to live into the future we would have died out like 3000 years ago.

            Maybe you should buy a horse and a few acres to feed that horse. Don't forget have a good stock of garbage bags to bag the poop on your travels.

      • digitalbath on 29/02/2024 - 15:18

        Yeah. I’m sick of the government freezing my assets. It’s a real pain in the arse.

        Your coins are worth jackshit until you sell them.
        So, you have essentially frozen your own assets.

        • lltravel on 01/03/2024 - 10:42
          -1

          you just dont get it, not going to explain further

          its like explaining math to ants, impossible.

          • digitalbath on 02/03/2024 - 13:07
            -1

            @lltravel: Sure, ok.
            Go enjoy your millions and your tin foil hat then :-)

    • Captain M on 26/02/2024 - 17:41
      -1

      Umm you heard of Bitcoin pizza day?

    • Moral hazard on 26/02/2024 - 21:48
      +2

      "You don't get successful stock investors posting their tips on what stocks to buy."

      You get just as many if not more of this, and it's been happening for longer.

      All the stock trading YouTube influencers are just showing the wins and not the losses and then selling courses on that.

    • dfg555 on 28/02/2024 - 19:56
      +1

      stocks are a ponzi too, company can easily rug pull if they wanted to but shareholders need that 3rd yacht

  • dfg555 on 26/02/2024 - 01:03
    -5

    im exiting when it hits $150k aud, thats enough for me to continue my current retirement till im 70+, i retired during the 2017 bullrun and have enough funds to last for the next 20~ years

    currently doing nothing and just playing vidya and shitposting online

    • [Deactivated] on 26/02/2024 - 08:55
      +3

      Thanks for contributing to society! Great to have you here!

      • CrowReally on 26/02/2024 - 12:53

        Oh, they aren't here, they retired in 2017, and as we know from their comment in 2021 they have world tour plans for "when" they retire

        The good news is you don't need giant bag of money to decide to spend the next twenty years of your life playing Vidya and internet shit posting, so I'm hoping they'll live the dream all the same

        • GrueHunter on 29/02/2024 - 13:31
          +1

          "You don't need a million dollars to do nothin'. Look at my cousin. He's broke, don't do shit."

    • frostman on 26/02/2024 - 21:11
      +2

      i retired during the 2017 bullrun and have enough funds to last for the next 20~ years

      wonder why you're a millionaire browsing OZB

  • [Deactivated] on 26/02/2024 - 01:35

    I won't lie, I wish I had bought at $800-$2000.

    Ohwell, it's like anything tho.

    • netjock on 26/02/2024 - 16:04

      I bought CSL at $34 in 2014. I wish I bought it with the old timers at $2. But then I don't want to be in a walking frame and CSL being like 90% of my portfolio which is all like $300k worth given money wasn't so easy to come buy in those days.

      • RTX9090Ti on 26/02/2024 - 16:46

        I bought CSL at low $100 and very happy with it. I wished I had the money to buy it when it was a lot lower.

        • netjock on 27/02/2024 - 14:58

          I wish I bought 10x as much as I did LOL

          • RTX9090Ti on 27/02/2024 - 15:05

            @netjock: everyone wished the same thing, over and over again. or buy appl stock when it was a dollar when steve jobs just got sacked from apple.

            • netjock on 27/02/2024 - 15:07

              @RTX9090Ti: That is why LOL everyone wants to get rich quick. Nobody wants to get rich slow.

              They said about Buffett, most of his returns are after 65yo because it is the compounding (and the stock bull market).

              • RTX9090Ti on 27/02/2024 - 15:12

                @netjock: he started early and didn't get rich overnight. the man also smart, he could remember all the numbers by heart.

                • netjock on 27/02/2024 - 15:18

                  @RTX9090Ti:

                  I have yet to complete the stocktake as I still have addresses which have less than 0.2BTC which I have written off before because it was chump change, but now worth quite a bit (circa over $15k for the 0.2 BTC addresses)

                  He was a baller splashing the cash in his younger days.

                  I suspect it is more like they got in at the last high US$69k and needs to pump it.

                  • RTX9090Ti on 27/02/2024 - 15:29

                    @netjock: pump it so he can bail out and left another chump to dry. same with penny stocks, if you're in hc you'll all over it.

                    • netjock on 27/02/2024 - 15:31

                      @RTX9090Ti: he could be Goldman Sachs of Crypto and genuinely want to help people by leaking their own research reports, free stock tips. How many people got rich off those!

  • fourofjacks on 26/02/2024 - 01:54
    +1

    You are proven wrong again and again and just ignore sound financial responses. Sadly most financially savvy people won't bother responding in your threads as it's tiring.

    I am posting in hope your threads do not send more people into losing money or worse.

    Bitcoin going up does not defy naysayers. Bitcoin will likely go up. Just as it will go down. There's no denying some will get rich from it, the majority will not. Just like day traders on the stock market that think they will be part of the group that earns money, the reality is most lose money.

    • netjock on 26/02/2024 - 16:06
      +1

      I get this sneaky suspicion it is all coordinated.

      One of them come on and post a thread. Then the rest of the troll farm jumps on to pump it. Remember Bitcoin is not regulated like real estate otherwise there will be fines and jail time.

      Before people start screaming. Yes the Bitcoin ETFs are regulated but that is the entity managing the asset for regulatory and compliance but not the bitcoin so you're still out of luck if bitcoin goes to $0 and you are holding the ETF. Don't ask your ETF provider to vote on the bitcoin board for removal of the Bitcoin CEO.

    • bargainhunter168 on 26/02/2024 - 16:53
      +2

      In what way has OP been "proven wrong again and again"? Since Bitcoin is near all time highs, by definition if those who bought have held till today are not at a loss, unless they were lucky enough to buy at the tippy top which from experience is actually quite hard to do.

      • fourofjacks on 26/02/2024 - 21:34
        +2

        Start with his first sentence, that Bitcoin going up defies nay sayers. It does not at all.

        You have followed his threads, there's plenty there proving him wrong but people see what they want to see. If you can't see where he is wrong there's nothing more I can add that will change your mind.

        It's crazy to me that people believe that the OP has whatever millions he has and is on ozbargain spruiking Bitcoin endlessly out of the goodness of his heart. If someone did this for any asset, investment, etc I would tell others to ignore their advice without question.

  • lachhelix on 26/02/2024 - 04:03
    +3

    Lmao $47 million 😂😂
    Yeah righto mate!

  • Randolph Duke on 26/02/2024 - 07:00
    +5

    Was OP more excited they were worth $47m, or they had an opportunity to post another how good am I thread on OzBargain?

    • pinkybrain on 26/02/2024 - 11:28

      the OP needs to get more suckers to buy into crypto so that the price will go up more
      so they can seller it while it is high
      then when it drops then OP become quiet again

      And repeat the process

  • aimon on 26/02/2024 - 07:08
    +3

    How do I downvote this topic. All I see is this guy making posts shilling for his own personal benefit. It's the same as someone who posts their own deal.

    • RTX9090Ti on 26/02/2024 - 16:44

      report it to mod so it gets taken down. the post is nothing to do with bargains.

      • bargainhunter168 on 26/02/2024 - 16:54

        This is in the discussion forum, I've yet to see any of Techlead's posts being taken down.

  • [Deactivated] on 26/02/2024 - 08:54

    You've got that much money and you are here talking.g about it on a website where people are trying to find ways save a few bucks to get by? Disgusting. Who needs that much anyway? You seen how many people are in tents in every major city these days? Get some morals..

    • localhost on 26/02/2024 - 09:38
      +1

      He doesn't have it. Just dreaming…

    • pinkybrain on 26/02/2024 - 11:30

      "A sucker is born every day"

      OP needs more suckers to drive up the price

    • lltravel on 26/02/2024 - 13:52
      +2

      how is it his fault people are in tents?
      why do rich people have to cater to the poor?
      You really think everyone was born rich?

      Stop being so entitled. Earn your own and spend your own.

      The only people you should blame are the government who allow people to come in and invest and drive locals out.
      You voted for it, not the rich.

      • [Deactivated] on 27/02/2024 - 15:48

        When did I say everyone was born rich? Can't read very well?

  • Kayrhcp on 26/02/2024 - 09:53
    +1

    This guy again? Why does OZB let this dude post when all he does is wait for some Bitcoin milestone to shitpost and then argue with people, only stopping when Bitcoin goes to an all-new low

    • netjock on 26/02/2024 - 10:49

      Because bitcoin is not regulated like property. You can give pretend advice and won't go to jail.

      Before someone tells me about the SEC regulated Bitcoin ETFs. SEC / CME also regulates commodities (Iron Ore, Gold etc) but it doesn't stop dodgy mining companies etc.

    • bargainhunter168 on 26/02/2024 - 16:56
      +1

      When did Bitcoin go to "an all new low"? Asking for a friend, because I can't see it on the Bitcoin price charts.

      Hint, low for the previous cycle was $16k USD last year after the FTX collapse, the one before that was $3200USD the one before that was $1200USD.

      At which time horizon is this "all new low" for Bitcoin and where are you getting your information?

      • netjock on 27/02/2024 - 14:58

        All new low is not same as all time low. Thanks for playing. I had to do a double take.

  • retailsaver on 26/02/2024 - 09:54

    @techlead Which hardware wallets do you use and which do you recommend for beginners?

    Also any tips on how / how not to use your hardware wallet (e.g. don't use on a Windows computer)?

    • techlead on 29/02/2024 - 09:56

      I have longevity in mind when it comes to hardware wallets, so stay away from fancy shmancy touch screens and batteries, they just create more components to break later on. No bluetooth or wifi connectivity, that just gives another attach vector into your device.

      I have multiple Trezor Ones (base model) and Ledger Nano S plus (middle model). I try to restrict each wallet to $5 mil, but this is a bit hard when coins pump up hard.

      I have only ever used Windows and a little bit of Linux. Windows is fine as long as you don't install dodgy things or click on dodgy links.

      • digitalbath on 29/02/2024 - 15:20

        I restrict my wallets to 10mil. Noob.

        • techlead on 29/02/2024 - 16:11

          Ok, lol, you do you.

      • retailsaver on 01/03/2024 - 11:23

        Thanks for the explanation.

        If your Windows machine DOES get a virus, and you connect your hardware wallet to it, is there a chance your crypto could be stolen?

        Also, is there a reason you have so many hardware wallets of the same type? Isn't the seed all you need and can use the same hardware wallet with multiple seeds?

  • Morphio25 on 26/02/2024 - 10:10
    +4

    So the OP's post is basically just him bragging that he's worth $48M?

    Part of me thinks he's full of s**t anyway. The ATH for BTC has exceeded $90K AUD. You'd think someone with that much of it would know that. Then again someone with their head so far up their own ass might have no idea.

    • LFO on 26/02/2024 - 14:51
      +2

      $48M ? ? ?

      Cash in NOW!
      Future is uncertain. Present is today.

      Part of me thinks he's full of s**t anyway.

      Wholeheartedly agree !

    • zonra on 26/02/2024 - 15:24

      Most of these Bitcoin posts sound very sock-puppety.
      “Check out this amazing, get-rich-quick product that I’m selling”.
      I have no doubt some people made it rich with Bitcoin, but the same can be said for casino goers. The money that made these people rich came from somewhere (hint: the late adopters’ pockets).

  • coffeeinmyveins on 26/02/2024 - 10:12

    found out I now have more than 600BTC

    No you don't.

    Because if you did, you wouldn't be posting on ozbargain. That amount of BTC is beyond "humble bragging on a forum". It's "cash out now and live on a private island with ferraris"

    • Cluster on 26/02/2024 - 10:55

      Indeed. People with 600 btc also should not go onto forums bragging about their holdings, as someone may decide to dox them and visit with a rubber hose to claim a share of the bitcoin.

      If you have a lot of crypto, STFU is very good advice.

    • wau2 on 26/02/2024 - 14:43

      His begging to be IP hacked and his crypto stolen

  • djsherly on 26/02/2024 - 10:23
    +2

    Probably a tinge of jealousy in my statement but I don't understand where any 'value' is being generated, not that it matters.

    To me there's nothing backing BTC except hype? Fair play to those rolling on the hype train.

    However, everyone who bangs on about fiat currency being a dud and outdated can only make proper use of BTC by…. turning it back into fiat currency.

  • Drpepper666 on 26/02/2024 - 10:32

    If U really have 47 million can I pls have some I'll even hodl it and hopefully be rich like u

    • netjock on 26/02/2024 - 10:50

      No, he needs to live off the dividends.

  • drfuzzy on 26/02/2024 - 10:59

    The OP is Jeffery Epstein hiding in Australia and posting on a bargain site

    You people don't understand

    • netjock on 26/02/2024 - 16:07

      Epstein has more money. Could make more.

      This guy is just lucky. I think the $200m power ball winner would look down on OP at the BBQ overnight wonder for a few bucks. OP had to invest in cold wallets and pick up $15k here or there like a millionaire beggar. Crazy isn't it.

  • Lucille Bluth on 26/02/2024 - 11:33
    +2

    Late last year my BTC grew enough to pay off my mortgage. Start of the year created a SMSF and converted it all to BTC. Couldn't be happier with both my personal and SMSF stash. Will now continue to DCA through my SMSF.

    • coffeeinmyveins on 26/02/2024 - 15:53
      +1

      "converted it all to btc"

      Remind me! 5 years

      • bargainhunter168 on 26/02/2024 - 19:48
        +1

        There's a family who sold everything they owned and bought Bitcoin @$900 each, they were widely laughed at and ridiculed at the time, but it has worked out very well for them.

        They even have a blog to share their travels, https://yolofamilytravel.com/.

    • May4th on 26/02/2024 - 22:33

      Which exchange do you use? How do you navigate the self custody issues with smsf?

      • Lucille Bluth on 26/02/2024 - 22:57
        +1

        Kraken Pro. I self custody to my hardware wallet (BitBox02) from Kraken Pro to Strike for free using the Lightning Wallet and then to my hardware wallet from Strike for free, saving on transaction fees.

        • May4th on 28/02/2024 - 03:54
          +1

          Cheers

    • BluebirdV on 04/03/2024 - 17:40

      Can you invest in Bitcoin through an SMSF? I thought you would need to do it via the Bitcoin ETF which is in the USA. I guess there will soon be a Bitcoin ETF in Australia.

      • Lucille Bluth on 04/03/2024 - 18:23

        Yes you can invest in Bitcoin through a SMSF, I am currently doing this. I'm not investing in an ETF, I am buying actual Bitcoin.

        • BluebirdV on 04/03/2024 - 18:30

          Nice. Which SMSF are you using? What are the fees? Do you need an accountant to set it up? Is it only suitable for people with a high net worth?

          • Lucille Bluth on 04/03/2024 - 18:38
            +1

            @BluebirdV: I use www.esuperfund.com.au, they set it all up for you. This is their current special (they basically have this "sale" all the time though) https://www.esuperfund.com.au/fees/special-free-offer

            Yes there are ongoing annual fees $1199 but first year is waved. They have to set it all up for you which is a bit of hassle if you are doing it yourself. And they do the tax return for you.

            After it's set up you can do it potentially yourself, then it's like $300 fee for the mandatory compliance check by ATO to ensure your SMSF is a complying fund.

            No you don't need to be a high net individual (I'm certainly not). I'm not using my employer super contributions to DCA into Bitcoin.

            They are recommended on Reddit when I did research into who to use. You can go to r/BitcoinAUS on Reddit to read up on them and other accountants that can set up a SMSF for you.

            Mine was up and running in less than 2 weeks and this included the Xmas and NY period including super rollover

  • Notoriousbird on 26/02/2024 - 12:07
    +5

    You have 600BTC and you are posting on ozbargain?

    I call bs.

    • SpicyStew on 27/02/2024 - 16:22

      what else is he gonna do? he's not spending any of it

  • eckorock on 26/02/2024 - 13:03

    "Bitcoin returns are way way better than x"

    You say this like it's a fact… it's not.
    Firstly it depends exclusively on your timeframe, (IF you ever eventually SELL) and the "Returns" you get from Bitcoin are ZERO because it isn't a yielding investment like a bond or a property or a company that shares profits (dividends).

    Until you sell the BTC it's zero return.

    • bargainhunter168 on 26/02/2024 - 17:07

      You serious? It doesn't work like that, take a property for example, if its owner occupied. Just because the owner didn't sell, doesn't mean their net worth did not increase, they can for example, cash out some equity by refinancing, where do you thing the money comes from for that, out of thin air?

      Just because someone didn't sell BTC, doesn't mean their net worth did not increase. Another example, Elon Musk, he doesn't need to sell Tesla shares for this net worth to increase.

      It is a fact that one Bitcoin trades at around $78XXX AUD each, given that price, it has outperformed most investments, including property and index funds. in the last 5-10 years. Not even close.

      • eckorock on 26/02/2024 - 20:08
        +1

        Mate you say it yourself, net worth. It's not your "return" until you crystallize it.
        I never said net worth was zero, I said return.

        If you want to measure your net worth based on your 1000x crypto price increase that's fine, but what bank is going to give you a mortgage backed by your Bitcoin? None
        However they will all loan you money backed by a $47 million property portfolio.

        It's paper net worth, you can't buy a loaf of bread or a Ferrari with Tesla shares or Bitcoin, not until you convert it to currency. THEN you can measure your actual realized return.

        • bargainhunter168 on 26/02/2024 - 20:11

          Bitcoin is very easily convertible to currency.

          So if I was in OP's shoes with 600BTC, and wanted to buy a house. I can easily sell the BTC I need to purchase the house without a mortgage. No loan required. No permission from the bank.

          Not sure what your point is.

  • carlJack on 26/02/2024 - 13:15
    +3

    Topped up at 42K.

  • lltravel on 26/02/2024 - 13:51
    +2

    here to read all the comments from the uneducated who are slave to the banks
    bitcoin = freedom
    no one controls bitcoin, if you think someone does, you have zero clue on how blockchain works

    For those calling it a ponzi have no idea how btc works.

    I guess blackrock, MicroStrategy are all wrong?

    Keep being slaves to the banks

    If op does own 600btc he should be retiring, goodluck to him.

    • localhost on 26/02/2024 - 14:08
      -3

      I really would like to know the contacts of your drug dealer…

      Oh, wait… he accepts only btc…

      • lltravel on 26/02/2024 - 14:29

        ah ill let the afp know at the airport not to accept bitcoin, guess they must sell drugs at the airport?

        https://peakd.com/brisbane/@usman93/brisbane-airport-now-acc…

        Plenty of gold dealers, car dealers and even luxury real estate accept btc
        Many restaurants also accept btc

        You clearly are brain washed by the media to think that bitcoin = crime
        The fact that it has a public ledger would mean criminals would steer away from it. They would use something like monero

        Please educate yourself.

      • bargainhunter168 on 26/02/2024 - 17:08
        +2

        A drug dealer that accepts BTC is pretty dumb. They most likely only accept cash or if they deal with crypto, they'd accept a privacy coin like XMR.

        Educate yourself before posting nonsense.

        • localhost on 26/02/2024 - 17:32
          -1

          My posting was about he taking drugs for such a shitty and stupid posts…
          Not about dealers.

        • lltravel on 27/02/2024 - 14:27

          dont bother educating the masses who know nothing about BTC, its like explaining maths to ants.

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