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post #81 of 90 (permalink) Old 01-21-2018, 10:14 PM
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if bitcoin is actually currency, where's the logic in selling money? I suppose an argument could be made for trading on the exchange rates of various currencies but bitcoin doesn't have an official exchange rate, so how could that work. And if those in control of bitcoin (if anyone or any entity actually is in control of bitcoin) believed in its worth and the fact that it would likely be worth more in the future... why would they sell it? Wouldn't the bitcoin be more valuable than whatever currency they received in exchange for selling their bitcoin?
I buy (and sell) currencies almost every day unfortunately. When I have to pay a supplier in Europe I have to buy Euros and sell dollars. Friday it was like 1.23 USD/E. Eight months ago it was at 1.06. "Worst" I ever say was something like 1.6X in maybe 2006? "Best" was .82! "Best" in is in quotes since that was in 1999 and I was getting paid in Euros! I used to buy futures for the Euro but always found the rate moved in whatever direction I didn't want it to. So have just used spot buying for a long time.

I think you've pointed out why bitcoin is like anything else.... supply and demand is what drives prices. When Bitcoin demand was high, there were a lot of buyers and fewer sellers. So buyers have to pay more to tempt out the sellers. When the price goes down, the inverse is true. Bitcoin may be a little different in that there are probably a number of large whales who can drive the price one way or the other. But that's a lot more than I know from my limited reading and experience. But it seem like you think there is some big conspiracy or something. Its like anything... over time the it will either prove its usefulness (and therefor value) or not.
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post #82 of 90 (permalink) Old 01-22-2018, 07:22 AM
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I used to do plenty FX as well. The CFH/EUR from 1,65 to 1,1 and the GBP/EUR from 1,5 to parity were very profitable. But since those days circa 2008 FX market is too crazy. I don't understand anything so I keep away from it.

In any case going back to 107s... I don't know in USA. But in Germany I see 200K 107s going for >30K Euros. Here in Spain is impossible to find anything decent. And now I am starting to see just nonsense like a 560 with obvious problems being sold in a dealer at 70k Euro.

It's like there is 107 fenzy starting to build up over here.

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post #83 of 90 (permalink) Old 01-22-2018, 07:56 AM
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In any case going back to 107s... I don't know in USA. But in Germany I see 200K 107s going for >30K Euros. Here in Spain is impossible to find anything decent. And now I am starting to see just nonsense like a 560 with obvious problems being sold in a dealer at 70k Euro.

It's like there is 107 fenzy starting to build up over here.
I've had a number of SLs in the last few years. Most I've sold have gone back to Germany. My '78 350 will probably wind up going back as well. The prices there are certainly higher than in the US. I sold a '83 500 that was solid but needed a full restoration to Germany last year and it is just now finishing up getting a nut and bolt restoration there. I've kept in contact with the buyer and hopefully will see some pics soon.
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post #84 of 90 (permalink) Old 01-22-2018, 10:29 AM
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I used to do plenty FX as well. The CFH/EUR from 1,65 to 1,1 and the GBP/EUR from 1,5 to parity were very profitable. But since those days circa 2008 FX market is too crazy. I don't understand anything so I keep away from it.

In any case going back to 107s... I don't know in USA. But in Germany I see 200K 107s going for >30K Euros. Here in Spain is impossible to find anything decent. And now I am starting to see just nonsense like a 560 with obvious problems being sold in a dealer at 70k Euro.

It's like there is 107 fenzy starting to build up over here.
70K Euro? That's almost double what I paid for my '83 380sl when it was brand new. Why are the prices so high in Germany?

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post #85 of 90 (permalink) Old 01-22-2018, 11:02 AM
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70K Euro? That's almost double what I paid for my '83 380sl when it was brand new. Why are the prices so high in Germany?
Well let's just say that Mike over at Classic and Collectibles in Las Vegas may have a different valuation after a thurough appraisal.
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post #86 of 90 (permalink) Old 01-22-2018, 11:57 AM
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https://suchen.mobile.de/auto/mercedes-benz-107.html

Seems that half the cars for sale in Germany are US spec..

Part of my plan to buy a 107 was to take it back with me to Europe (as part of household - no duties) and then eventually sell it on. Maybe I should consider Germany...

I brought a Land Rover Defender in when I came from the US - that was very lucrative!
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post #87 of 90 (permalink) Old 01-22-2018, 01:16 PM
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IMHO Bernie Madoff is sitting in jail for implementing a fraud nowhere near as egregious as Bitcoin. There is no intrinsic value... there is no product... there is no service (value added)... there is nothing other than human greed fueled by the prospect of making money for nothing. It's MLM without even the pretense of a market. Why go through the process at all... just send your money directly to the scam artist... oh, excuse me... inventor... of Bitcoin and don't forget to send a little something to the "miners" for all their efforts.
essentially then, you are saying someone is printing useless money... Ok so it's computer code but the similarity remains. Well if that were a crime the Federal Reserve would have been in jail decades ago.

It's a shame that the concept aimed at keeping sticky fingers out of your pie has actually gone the other way. The greedy bastards who do the speculating have gotten stupidly rich and are now sitting on the sidelines waiting for Joe public to invest his 401K there. Again. If you can't afford to lose it don't get involved. This is not a retirement plan.
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post #88 of 90 (permalink) Old 01-22-2018, 06:08 PM
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I used to do plenty FX as well. The CFH/EUR from 1,65 to 1,1 and the GBP/EUR from 1,5 to parity were very profitable. But since those days circa 2008 FX market is too crazy. I don't understand anything so I keep away from it.
In any case going back to 107s... I don't know in USA. But in Germany I see 200K 107s going for >30K Euros. Here in Spain is impossible to find anything decent. And now I am starting to see just nonsense like a 560 with obvious problems being sold in a dealer at 70k Euro.
It's like there is 107 fenzy starting to build up over here.
Hey Bereng, I see your location is Barcelona. I love your city, your culture and of course your architecture. Goudi was a full century ahead of his time. How is progress on La Sagrada Família? How is the independence movement coming along?
For those unfamiliar this amazing stone structure has been under construction for 135 years, and will likely be finished in the next 8 years! This is a must-visit for all.
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post #89 of 90 (permalink) Old 01-22-2018, 06:18 PM
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essentially then, you are saying someone is printing useless money... Ok so it's computer code but the similarity remains. Well if that were a crime the Federal Reserve would have been in jail decades ago.
As a humanitarian gesture I'd be willing to take that useless Federal Reserve paper off your hands for a slight disposal fee. j/k

I think we've taken this discussion just about as far as logic and reason allows. I sincerely wish all the bitcoin enthusiasts among us the best of luck.

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post #90 of 90 (permalink) Old 01-23-2018, 04:18 AM
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Ah ok at the risk of being punished by some moderator I'll go 100% off-topic lol.

So yeah I love BCN. I've lived all around Europe and it's the best big city imo. Take the underground to be beach and bath for 9 months a year? please... so great. Although I am based in Cambrils now. Less tourists, cheaper and better beaches :-) Sagrada Familia is due to be finished soon. But that is just the top cross section of any such church's layout. There's still the big long lowermost leg of the cross shaped building to be built. Dunno if that will happen. The city would have to relocate many people and tear down many buildings to make room for that. It would take another 150 years I guess but would it be an amazing thing!

And I hope you don't get offended but my grandfather used to tell me: never talk politics, religion or football. Lol. So PM if you're interested as it's an interesting 'social event' but I'd rather keep it private.

Drop a line if you visit and I'll give you some advice.

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