[Finance] The cryptocurrency (Bitcoin etc) thread

[nicko31]

Markets plunging too, could be time for the long overdue readjustment.

Not surprised an 8 month bull market had to correct, the US has been nuts. FTSE almost back its level 12 months ago

Bitcoin reminds me a lot of the dotcom bust. A cabbie at christmas gave me a Bitcoin tip, always a pointer meltdown is getting close

 

[Bold Seagull]

Not surprised an 8 month bull market had to correct, the US has been nuts. FTSE almost back its level 12 months ago

Bitcoin reminds me a lot of the dotcom bust. A cabbie at christmas gave me a Bitcoin tip, always a pointer meltdown is getting close

Didn’t JFK’s father tell a similar story when he got out of the Great Depression - when the shoe shine boys are giving you tips, you know it’s tine to get out!!

 

[Papak]

Not surprised an 8 month bull market had to correct, the US has been nuts. FTSE almost back its level 12 months ago

Bitcoin reminds me a lot of the dotcom bust. A cabbie at christmas gave me a Bitcoin tip, always a pointer meltdown is getting close

Aren't you supposed to tip said cabbie not the other way round?

 

[Bozza]

Didn’t JFK’s father tell a similar story when he got out of the Great Depression - when the shoe shine boys are giving you tips, you know it’s tine to get out!!

Copy and paste fro the other thread on this:

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?

 

[Bold Seagull]

Copy and paste fro the other thread on this:

I wondered where I heard that from, I thought I’d seen a documentary or something, and it was good old NSC!

 

[Notters]

If anything I reckon the falling stock market will see them rebound, but we'll see.

 

[dwayne]

If anything I reckon the falling stock market will see them rebound, but we'll see.

No.

Sent from my SM-G950F using Tapatalk

 

[Blue Valkyrie]

Are the shoeshine guys rushing to sell, sell, sell yet ?

 

[beorhthelm]

If anything I reckon the falling stock market will see them rebound, but we'll see.

lol seen this idea on Bitcoin talk that people will move to crypto as an alternative to real stocks. its a collapsing bubble with China wanting ban access to exchanges, no ones going to be investing serious money in this falling market.

should have got out in mid Jan because there were all the signs that the market had turned. its following the same pattern as dotcoms, i err'd and stayed in

 

[Bozza]

lol seen this idea on Bitcoin talk that people will move to crypto as an alternative to real stocks. its a collapsing bubble with China wanting ban access to exchanges, no ones going to be investing serious money in this falling market.

should have got out in mid Jan because there were all the signs that the market had turned. its following the same pattern as dotcoms, i err'd and stayed in

If you'd bought into quality and held then you'd still be doing fine.

Amazon peaked at around $85 / share before the DotCom crash, before plummeting down to around $5. Today it's around $1400 so even if you'd bought at the peak before the crash then you'd have made a 1600% profit.

There's a case to be made that Bitcoin is the quality and the zillions of other coins are the bubble. We'll see I guess...

 

[beorhthelm]

If you'd bought into quality and held then you'd still be doing fine.

Amazon peaked at around $85 / share before the DotCom crash, before plummeting down to around $5. Today it's around $1400 so even if you'd bought at the peak before the crash then you'd have made a 1600% profit.

There's a case to be made that Bitcoin is the quality and the zillions of other coins are the bubble. We'll see I guess...

fortunatly i didnt "buy" i simply had from mining and diversified, trying to pick some of that quality . im annoyed with myself for recognising the pattern but not acting on it, getting caught up in the hype and frankly greed. could have pulled out thousands and still had what i started with bitcoin wise.

the problem with crypto is working out the future Amazons and Googles when there's so few have real projects. everything is driven by sentiment, project with 0 revenue or expectation of any are valued for future price gains based on nothing but being traded. most probably wont ever be used as anything other than speculative pump and dumps.

 

[Notters]

lol seen this idea on Bitcoin talk that people will move to crypto as an alternative to real stocks. its a collapsing bubble with China wanting ban access to exchanges, no ones going to be investing serious money in this falling market.

should have got out in mid Jan because there were all the signs that the market had turned. its following the same pattern as dotcoms, i err'd and stayed in

You sound like a speculator rather than someone who believes in the technology? This is perhaps the fourth Bitcoin crash but the long term prospects are good. (Or maybe not!)

 

[Pevenseagull]

Bank uses public's savings to speculate on market they don't fully understand.
Bank ****s up.
Bank loses money.
Bank ****s up economy.
Bank gets bailed out with public money.
Bank gets more public money to help public.
Bank keeps money for self.
.
.
.
Public borrow money from bank for speculative investment they don't understand.
Public make money.
Bank see they've missed out on making money.
Bank bides its time and then shorts investment.
Bank cuts off supply of lending for public speculation.
Investment crashes.
Bank makes money.

 

[beorhthelm]

You sound like a speculator rather than someone who believes in the technology? This is perhaps the fourth Bitcoin crash but the long term prospects are good. (Or maybe not!)

i actually do believe in the underlying technology, there are many very useful applications. online identity, asset management, smart contracts, copyright protections, fog computing, ad revenue, even some aspects of payment processing. i dont believe in the value ascribed to most because they are fanciful. as an area inherently open source, there is next to no barriers to entry so any small group can copy/paste a project and spawn a new coin. and they have done with 1500+ coins available. the value of many is actual detrimental to the stated objectives. others are just scam projects, with 20, 30, 50million raised on back of a white paper and template website, to do nothing but develop a poorly thought out project and burn cash marketing it (again, a lot like dotcoms).

 

[beorhthelm]

anyone following to recent movements? filled your bags, ready for the moon?

 

[Brixtaan]

Ready

 

[Brixtaan]

I’ve got £500 burning a hole in my pocket since d3cember when I was enlightened to everything crypto by a shoeshiner.
In fairness to him he advised me to educate myself before investing and wait for the annual crash in late January to blow through. Things didn’t really recover throughout February and March so I sat tight and then I learnt of ANOTHER crash coming because the Americans like to liquidise everything for their big April 18th tax deadline. So here I am, everything I was told by the shoeshiner has come true and my prevaricating this last two weeks has seen Bitcoin rise by £1000. What to do! This technology is not going away, we WILL use blockchain in future and things WILL be paid for by some sort of online currency.

 

[bhaseeer]

ETH LISK LINK OMG REQ ICX FUN AMB INT ENJ

thank me in a year.....

 

[beorhthelm]

ETH LISK LINK OMG REQ ICX FUN AMB INT ENJ

thank me in a year.....

last years news, need to look to new comers though its probably going to be dart throwing

 

[Tom Hark Preston Park]

anyone following to recent movements? filled your bags, ready for the moon?

Don't you just HATE it when that happens?