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[Finance] The cryptocurrency (Bitcoin etc) thread



nicko31

nicko31

Well-known member
Jan 7, 2010
17,567
Gods country fortnightly
vegster said:
Markets plunging too, could be time for the long overdue readjustment.
Click to expand...

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

Bold Seagull

strong and stable with me, or...
Mar 18, 2010
29,788
Hove
nicko31 said:
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
Click to expand...

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

Papak

Not an NSC licker...
Jul 11, 2003
1,902
Horsham
nicko31 said:
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
Click to expand...

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


Bozza

Bozza

You can change this
Helpful Moderator
Jul 4, 2003
55,717
Back in Sussex
Bold Seagull said:
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!!
Click to expand...

Copy and paste fro the other thread on this:

Bozza said:
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?
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Blue Valkyrie

Blue Valkyrie

Not seen such Bravery!
Sep 1, 2012
32,165
Valhalla
Are the shoeshine guys rushing to sell, sell, sell yet ? ???
 




beorhthelm

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,294
Notters said:
If anything I reckon the falling stock market will see them rebound, but we'll see.
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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 :facepalm:
 


Bozza

Bozza

You can change this
Helpful Moderator
Jul 4, 2003
55,717
Back in Sussex
beorhthelm said:
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 :facepalm:
Click to expand...

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

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,294
Bozza said:
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...
Click to expand...

fortunatly i didnt "buy" i simply had from mining and diversified, trying to pick some of that quality :lolol:. 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

Notters

Well-known member
Oct 20, 2003
24,869
Guiseley
beorhthelm said:
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 :facepalm:
Click to expand...

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

Pevenseagull

Anti-greed coalition
Jul 20, 2003
19,610
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

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,294
Notters said:
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!)
Click to expand...

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

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,294
anyone following to recent movements? filled your bags, ready for the moon?
 




Brixtaan

Brixtaan

New member
Jul 7, 2003
5,030
Border country.East Preston.
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.
 






beorhthelm

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,294
bhaseeer said:
ETH LISK LINK OMG REQ ICX FUN AMB INT ENJ

thank me in a year.....
Click to expand...

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


Tom Hark Preston Park

Tom Hark Preston Park

Will Post For Cash
Jul 6, 2003
70,143
beorhthelm said:
anyone following to recent movements? filled your bags, ready for the moon?
Click to expand...

Don't you just HATE it when that happens? :lolol: :dunce:

astronaut-space-rocket-moon-cartoon-red-crashed-unknown-planet-universe-comets-falling-dark-blue-outer-52333103.jpg
 


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