ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
|
|
Thread Tools | Display Modes |
15 May 2021, 10:41 PM | #1 |
"TRF" Member
Join Date: Jan 2019
Location: USA
Posts: 216
|
Would you trade your watch for Bitcoin, Doge coin or any other crypto currency
I bought some bitcoin in January 2016 at $390 and it's current value is up to around $49000, compared to the watches I have purchased from 2016 till date bitcoin has been a better investment.
So from a investment standpoint would you rather keep your watch or trade if for some bitcoin, Dogecoin or any crypto currency |
15 May 2021, 10:54 PM | #2 |
"TRF" Member
Join Date: Nov 2020
Real Name: Rob
Location: USA
Watch: ♛ HULK
Posts: 58
|
I wouldn’t accept a meme coin like doge. But from an investment standup crypto, and even most stocks are a better roi than a watch. A watch is meant to be worn and enjoyed not used as a way of making a profit anyways
Sent from my iPhone using Tapatalk |
15 May 2021, 10:57 PM | #3 |
"TRF" Member
Join Date: Jan 2021
Location: Calgary
Watch: Day-Date 40
Posts: 3
|
100% seems like a no brainer here.
|
15 May 2021, 11:02 PM | #4 |
TechXpert
Join Date: May 2012
Location: Earth
Posts: 23,489
|
No, I would not.
|
15 May 2021, 11:14 PM | #5 |
Banned
Join Date: Dec 2018
Location: DFW, TX
Posts: 2,149
|
I wouldn’t sell hard assets to invest in crypto. Only invest money you can afford to lose.
|
16 May 2021, 12:53 AM | #6 |
Banned
Join Date: Apr 2020
Location: here AND there...
Posts: 2,240
|
it's rather surprising tome that many retailers... including watch greys are beginning to accept doge.
please people, stay away from non-utility meme coins... unless you are a day trader that is into momentum plays. |
16 May 2021, 01:47 AM | #7 |
Banned
Join Date: May 2021
Location: Canada
Posts: 71
|
I wouldn’t trade my watch for Bitcoin at this moment
|
16 May 2021, 04:01 AM | #8 | |
"TRF" Member
Join Date: Mar 2017
Real Name: Varies
Location: On a couch
Watch: Me
Posts: 368
|
Quote:
As far as the title question, you aren’t “trading” a watch for crypto, you’re selling a watch for crypto. Which you can then choose to keep as an investment or convert to cash immediately. Why not keep the watch and just buy the crypto you want for investment? |
|
16 May 2021, 07:09 AM | #9 | |
Banned
Join Date: Apr 2020
Location: here AND there...
Posts: 2,240
|
Quote:
converting your infinitely 'hard' deflationary asset into a >15%-20% debasing fiat currency is a horrendous financial decision. the ONLY reason someone would convert an asset into a currency is because they were operating with minimal reserves. Not only are you incurring a tax when you sell an asset, you are giving up any hope of making a secondary gain as a hedge against what the central government is doing... regardless of which fiat currency you happen to partake in. |
|
16 May 2021, 08:22 AM | #10 | |
2024 Pledge Member
Join Date: Oct 2017
Location: nyc
Posts: 6,354
|
Quote:
|
|
16 May 2021, 09:02 AM | #11 |
"TRF" Member
Join Date: Jan 2018
Location: Georgia
Posts: 6,143
|
No.
I don’t think watches are an asset class until you start factoring in the many nuances of estate planning and numbers 100 fold of what you are talking about. This isn’t investing, it’s playing with chump change. |
16 May 2021, 10:00 PM | #12 |
2024 Pledge Member
Join Date: Aug 2010
Real Name: H
Location: North Carolina
Watch: M99230B-0008
Posts: 5,672
|
Since my watches are not "investments" cannot answer the question.
__________________
The King of Cool. |
16 May 2021, 10:04 PM | #13 |
2024 Pledge Member
Join Date: Jul 2013
Real Name: Brian (TBone)
Location: canada
Watch: es make me smile
Posts: 73,859
|
I don’t invest in things I don’t understand and Bitcoin falls into that category
If you've done that well in 5 years I’d be inclined to go the other way and sell the BC and use the funds to buy a watch. If it’s an investment, I’d by a piece of real estate or some good dividend growth stocks. |
16 May 2021, 10:50 PM | #14 |
"TRF" Member
Join Date: Jan 2018
Location: In a house
Posts: 836
|
They are like baseball cards, without the cards. There is nothing.
Sent from my Pixel 5 using Tapatalk |
16 May 2021, 11:49 PM | #15 |
"TRF" Member
Join Date: Jan 2016
Location: Odessa, FL
Watch: Bluesy (126613LB)
Posts: 570
|
watch = jewelry
DOGE/BTC/ETH = investment These are two totally different things for me. I do not intend on selling my watch anytime soon for any type of currency.
__________________
Time is the only thing standing between me and the throne ♛ |
16 May 2021, 11:52 PM | #16 | |
"TRF" Member
Join Date: Nov 2010
Real Name: Jim
Location: Maine & Florida
Watch: 16710,116619
Posts: 540
|
Quote:
|
|
17 May 2021, 01:40 AM | #17 | |
"TRF" Member
Join Date: Mar 2017
Real Name: Varies
Location: On a couch
Watch: Me
Posts: 368
|
Quote:
Some retailers may keep bitcoin. Certainly a choice. But for running a business, the infrastructure still isn’t there for all the other things. Keep in mind I’m hugely involved in crypto, run a website dedicated to it, and have made quite a large sum on my positions over the last 14 months. But the realities are that you can’t currently run a business solely from crypto payments. |
|
17 May 2021, 01:49 AM | #18 |
Banned
Join Date: Apr 2020
Location: here AND there...
Posts: 2,240
|
jesus... there is so much wrong with those statements.
NO watch retailer operates exclusively with crypto. I am guessing, but I would assume it may constitute between 10-20% of all sales for some. the rest is legacy fiat transactions, financing, and credit card interactions. |
17 May 2021, 03:59 AM | #19 | |
"TRF" Member
Join Date: Mar 2017
Real Name: Varies
Location: On a couch
Watch: Me
Posts: 368
|
Quote:
Retailers pay tax on their profits regardless of what form of currency they received. If crypto is received and immediately exchanged for fiat, there is no 2nd layer of tax because there has been no price appreciation. I’ve written a full tax guide on cryptocurrency and US policies. I have published 100+ articles in my name on various crypto topics. Point out the specific facts I’ve gotten wrong there rather than making a broad baseless claim. . Where is your proof that retailers that accept crypto are NOT converting to fiat currency for operations? Where is the data showing businesses are paying expenses, taxes, and for inventory using bitcoin? |
|
17 May 2021, 05:23 AM | #20 |
"TRF" Member
Join Date: Mar 2020
Location: Fort Myers, Flori
Watch: Sub & Deep sea
Posts: 305
|
This. A made up "currency" trading only on the hype of people. There is absolutely nothing behind it. One tweet from a major influence "musk for instance" can inflate or destroy it.
|
17 May 2021, 06:00 AM | #21 | |
"TRF" Member
Join Date: Mar 2017
Real Name: Varies
Location: On a couch
Watch: Me
Posts: 368
|
Quote:
The term cryptocurrency makes it seem like all of these are competing to become the next method of payment, which is nowhere near the truth. There will be huge utility from some of these created very soon, and that utility will find acceptance and therefore have value. All Musk is doing is screwing with people using Doge memes and tweets. The true story is much more compelling. |
|
17 May 2021, 06:58 AM | #22 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: May 2011
Real Name: Larry
Location: San Diego, CA
Watch: ROLEX
Posts: 25,227
|
Nope!
__________________
✦ 28238 President DD 18K/YG ✦ 16610LN SS Sub ✦ 16613 18K/SS Serti ✦ 16550 Exp II Non-Rail Cream Dial ✦ Daytona C 116500 ✦ 126710 BLRO GMT-Master II ✦ NEXT-->? ⛳ Hole In One! 10/3/19 DMCC 5th hole, par 3, 168 yards w/ 4-Iron. |
17 May 2021, 07:09 AM | #23 |
"TRF" Member
Join Date: Mar 2020
Location: Fort Myers, Flori
Watch: Sub & Deep sea
Posts: 305
|
And as I stated earlier today, "someone influential like musk" can control it with a simple tweet.
This is exactly what happened this afternoon. |
17 May 2021, 01:03 PM | #24 |
"TRF" Member
Join Date: Feb 2021
Location: MD/NC
Watch: 114060
Posts: 2,591
|
No, I bought my Rolex to enjoy. I purchased my crypto as a speculative investment that I was willing to lose completely and prefer to invest in crypto platforms with stronger real-world usage scenarios (e.g., VeChain and Ethereum). I'm not incredibly worried about Musk.
|
17 May 2021, 01:10 PM | #25 |
"TRF" Member
Join Date: May 2013
Real Name: Nick
Location: Las Vegas
Watch: 1601
Posts: 10,450
|
Nope
|
17 May 2021, 01:16 PM | #26 |
"TRF" Member
Join Date: Jan 2009
Location: Dallas
Watch: 12800ft = 3900m
Posts: 11,172
|
Absolutely not, because my watches that I buy are not viewed by me as an investment or asset class. They have a different relevance and emotional significance.
If you're view is solely based on dollars then you're just hustling around looking for the next "hit". |
17 May 2021, 08:58 PM | #27 |
2024 ROLEX DATEJUST41 Pledge Member
Join Date: Aug 2015
Location: FL
Posts: 418
|
I would, but only if it were an unfair trade in my favor; i.e. 2-1 USD equivalent, which theoretically would be enough to offset any near term downturn. I simply don't trust the volatility otherwise.
That said, I'm not liquidating any of my watches to invest in crypto, so it's largely irrelevant. |
17 May 2021, 09:08 PM | #28 |
"TRF" Member
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,895
|
No
__________________
Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Glashutte Senator Exellence, Rolex 116710 GMT Master II BLNR, Breitling Superocean Steelfish, JLC Atmos Transparent |
18 May 2021, 02:12 AM | #29 |
"TRF" Member
Join Date: Oct 2016
Location: ct
Posts: 288
|
yes. so much more fun watching the price move vs second hands on a watch
|
18 May 2021, 02:35 AM | #30 |
"TRF" Member
Join Date: Jan 2019
Location: North America
Posts: 2,303
|
If we are talking about keeping a 15k watch vs sell it and put the 15k in crypto, I choose the watch every time. To be perfectly frank, even if BTC “goes to 500k bro”, that’s only a ~150k ROI - large sum of money for sure, and a 10x gain, but not life changing in total $ amount and therefore I would not sell a watch I love for that “chance,” as it’s by no means a guarantee. Plus, this scenario assumes all I have to work with is 15k, either in watch form or cash. I would never liquidate assets I already own and like for crypto, but would consider allocating other unused cash. As an aside, any investment that swings 20% daily based on the ramblings of a lunatic on Twitter are not for me.
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|
*Banners
Of The Month*
This space is provided to horological resources.