[Technology] Crypto this week

[Gazz15]

Bitcoin limited to 21.7M coins in it's lifetime - what a hoot, they keep making forks off the original, ie Litecoin and Bitcoin cash & Bitcoin Gold.

It is hardly any better controlled than Fiat, and certainly wont be under Government control once they step in & take over.

 

[piersa]

Never try to catch a falling blade, isn't that the saying?

Or.......

Be fearful when everyone around you is being greedy, and be greedy when everyone around you is being fearful.

 

[Mellotron]

Or.......

Be fearful when everyone around you is being greedy, and be greedy when everyone around you is being fearful.

"The time to buy is when there's blood in the streets." - Baron Rothschild

 

[symyjym]

Bitcoins aren't worth anything until you have sold them. What the market says they are worth is only as good as the last rush to purchase them. As soon as the rush slows down or stops the value drops significantly and in 3 weeks it has dropped 30%.

The way I believe there was a massive rise in value during December was mostly driven by novelty Bitcoin Birthday and Christmas gifts.

That what it looks like to me by this graph anyway. There was a massive jump in December: https://charts.bitcoin.com/chart/price

Right now anyone who wanted $20k for their Bitcoin should have sold 3 weeks ago for themselves and to keep the market going. And anyone wanting to invest in Bitcoin now the price is too high to purchase anyway. Only the rich and foolish buy at these prices.

Anyway to me it looks like the Bitcoin will lock itself up in novelty gifts with little trading.

 

[piersa]

Bitcoins aren't worth anything until you have sold them. What the market says they are worth is only as good as the last rush to purchase them. As soon as the rush slows down or stops the value drops significantly and in 3 weeks it has dropped 30%.

The way I believe there was a massive rise in value during December was mostly driven by novelty Bitcoin Birthday and Christmas gifts.

That what it looks like to me by this graph anyway. There was a massive jump in December: https://charts.bitcoin.com/chart/price

Right now anyone who wanted $20k for their Bitcoin should have sold 3 weeks ago for themselves and to keep the market going. And anyone wanting to invest in Bitcoin now the price is too high to purchase anyway. Only the rich and foolish buy at these prices.

Anyway to me it looks like the Bitcoin will lock itself up in novelty gifts with little trading.

There were many many people saying that when bitcoin was $100. Too many revisionist advisors on the subject from what I have seen.

It may go up again. Or it may go down. Nobody really knows. It's a punt.

 

[Albion Dan]

Crypto currency has always risen and fallen dramatically. Today’s prices are only a drop to where the market was only 12 weeks ago so only a relatively small correction in the grand scheme of things.


Sent from my iPhone using Tapatalk

 

[pb21]

The way I believe there was a massive rise in value during December was mostly driven by novelty Bitcoin Birthday and Christmas gifts.

 

[symyjym]

There were many many people saying that when bitcoin was $100. Too many revisionist advisors on the subject from what I have seen.

It may go up again. Or it may go down. Nobody really knows. It's a punt.

Yes, an expensive lottery ticket.

 

[Bold Seagull]

Anyone catching this falling knife yet?

I've been procrastinating about getting into Crypto since last November, but still don't know enough about it [hence I've held off], and was only thinking of a small amount I wouldn't lose any sleep over if it disappeared.

Seems to have stabilised for the moment, although stabilising in crypto-world seems to be the price not moving for a couple of hours rather than days or weeks.

My feeling is it's stabilised because of people like me who were thinking of getting into it, and with the price dropping to a level felt time to get on before it rises again. However, if a government announcement can trigger such wild fluctuations, it is one hell of a roller coaster ride if you go in with anything like a significant investment.

Anyone use eToro at all for their exchange?

 

[Notters]

Anyone use eToro at all for their exchange?

Etoro seems to have dodgy reviews and there are a lot of popups around for it. I think bitbargain and coinbase are better respected. Or you could try one of the ATMs in Brighton?

 

[beorhthelm]

eToro is not an actual exchange, more like a spread betting business that allows you to buy a position without owning the underlying asset. that may work for you, and may be better when things turn south or simply very busy. it wouldnt work if you want to hold the bitcoin locally or trade on exchanges for other crypto.

 

[Bold Seagull]

Still on the slide and a bit of panic as investors struggle to get their money out. Are NSC investors sticking for the long haul, or got out already?

 

[Pevenseagull]

Perhaps Institutional investors are shorting cryptos.
In which case they're doomed.

 

[beorhthelm]

Still on the slide and a bit of panic as investors struggle to get their money out. Are NSC investors sticking for the long haul, or got out already?

i sticking as i've nothing to lose, and much to gain if the hubris turns out right. i've always seen strong parallels to dotcom and when I look at the Nasdaq chart and the current Bitcoin chart, we're see its near same as end of 2000. Bitcoin needs to steady and stay at around 10k for a week or two, if it breaches then its a long way down...

more interesting is how some of the other cryptos will play out. Bitcoin has fallen along way from dominance in recent weeks, so it may be time one or a small group of others will take the lead.

 

[Bozza]

Still on the slide and a bit of panic as investors struggle to get their money out. Are NSC investors sticking for the long haul, or got out already?

I follow this stuff very loosely, predominantly because it's often discussed on some podcasts I listen to from folk like Kevin Rose and Tim Ferriss. Anyway, I read these words last night...

"I heard that quote somewhere and it really struck me. There are hundreds of cryptocurrencies popping up and everyone seems to be talking about making a fortune in crypto. I even heard my barber talking about taking out a loan to buy some Bitcoin. This makes me very nervous.

Joe Kennedy (JFK’s dad) famously exited the stock market just before the great depression after his shoeshine boy gave him stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good."

Have we reached that point?

 

[WATFORD zero]

If you're in a rising market before everyone else you keep shtum.

You get out while you're ahead whilst keeping shtum until you're out.

Shirley, if you are in it, posting on a message board is just trying to talk up something you're concerned about

 

[beorhthelm]

Have we reached that point?

i see that the Sun and Express run stories on it, online at least, so probably.

one key difference though is that general view is cautious, people are aware of it but not necessarily involved. i hear it talked about in office (IT so not quite general public), the view is cynical and dont think anyone actually investing.

 

[Pevenseagull]

All going a bit tits up

 

[TSB]

They don't do anything!

Bullshit and hype from start to finish.

 

[vegster]

I follow this stuff very loosely, predominantly because it's often discussed on some podcasts I listen to from folk like Kevin Rose and Tim Ferriss. Anyway, I read these words last night...

"I heard that quote somewhere and it really struck me. There are hundreds of cryptocurrencies popping up and everyone seems to be talking about making a fortune in crypto. I even heard my barber talking about taking out a loan to buy some Bitcoin. This makes me very nervous.

Joe Kennedy (JFK’s dad) famously exited the stock market just before the great depression after his shoeshine boy gave him stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good."

Have we reached that point?

Markets plunging again in the Far East this morning, can you give [MENTION=36]Titanic[/MENTION] a nudge? We need his cut and paste experience to put something up on the board that shows how OUR economy shouldn't and won't be affected by the latest meltdown.