Bitcoin

[TheGingerQuiff 2412]

On 11/29/2017 at 3:00 PM, Anorthernsoul said:

Just hit $11k.

 

Almost 16k just over a week later. It's pissing me off cos if I had the cash I'd have been on it big at about 5k

[Rayvin 5220]

8 minutes ago, TheGingerQuiff said:

 

Almost 16k just over a week later. It's pissing me off cos if I had the cash I'd have been on it big at about 5k

 

Aye but remember you need to know when to get out as much as when to get in.

[TheGingerQuiff 2412]

It's going nowhere but upwards. 

[TheGingerQuiff 2412]

 

[Rayvin 5220]

1 minute ago, TheGingerQuiff said:

It's going nowhere but upwards. 

 

There's nothing underpinning it though. The only thing making it valuable is people continuing to believe it to be valuable. When it reaches the top of that point, it's going to crash hard.

 

Granted a lot of money can be made between then and now, but there will definitely be a collapse in the offing.

[TheGingerQuiff 2412]

Nah that's a lazy conclusion you've reached! Blockchain technology itself is in its infancy and has the potential to revolutionise entire industries. Bitcoin spiked the other week when the Mugabe shit was going down because people in Zimbabwe started hoovering it up. And on top of that, the whole idea of decentralised currency fucks banks off which is hugely appealing.

[TheGingerQuiff 2412]

And at the end of the day, it's just the same bullshit that money is. I.e numbers on a screen

[Rayvin 5220]

1 minute ago, TheGingerQuiff said:

Nah that's a lazy conclusion you've reached! Blockchain technology itself is in its infancy and has the potential to revolutionise entire industries. Bitcoin spiked the other week when the Mugabe shit was going down because people in Zimbabwe started hoovering it up. And on top of that, the whole idea of decentralised currency fucks banks off which is hugely appealing.

 

Don't disagree with any of that, but that's a theoretical analysis of its benefits, not a pragmatic review of the reality. Theoretically, I agree with you. In reality, it's going to pop because the only reason it has value is that people assume it will continue to have value.

 

Tbh, I'm thinking of buying $1  But I keep telling myself it's a fool's errand because it will, inevitably, collapse. And fall to a sustainable level again.

[TheGingerQuiff 2412]

People have been saying that for years and it just doesn't and won't. It's market cap atm is something like 260 billion which has doubled from something like a month ago. Given the limited supply of btc it absolutely will not just pop, it has proven its resilience time and again and there isn't anything that is going to make it crash. There's even better, faster and cheaper 'altcoins' available that have tried to steal BTCs crown and still it surges.

[Rayvin 5220]

So go for it then. Take out a loan and throw it into Bitcoin if you're so sure.

[TheGingerQuiff 2412]

If that was an option to me I would have already done it.

[Rayvin 5220]

Fair enough. I'm tempted but £12k is a hellova lot of money to stump up for a gamble

[adios 717]

4 minutes ago, TheGingerQuiff said:

People have been saying that for years and it just doesn't and won't.

Said about every bubble ever.

 

In defence of BTC - it's potentially going to replace the entire global FX market, so it's underpinned by a lot more than traders' faith.

 

The other side - Blockchain is what's important, not BTC, which has no inherent right to its position other than being out front right now.  I can envisage scenarios where the US fucks it, but if you look at how countries like Japan are treating it, it's probably out of the bag and too late for them to control it.

 

Overall, from the little I know, l think BTC is going to 10x again in the next couple years and I'm seriously considering putting a fair amount in.

 

Someone said earlier they were investing in companies strong on Blockchain, that's the safe bet, but I hate safe bets.

[TheGingerQuiff 2412]

1 minute ago, Rayvin said:

Fair enough. I'm tempted but £12k is a hellova lot of money to stump up for a gamble

 

You can buy fractions you know

[adios 717]

1 minute ago, Rayvin said:

Fair enough. I'm tempted but £12k is a hellova lot of money to stump up for a gamble

You realise you can invest in a lot less than one BTC right?  Right now I have a grand total of about €5 in there just from moving money through it.

[Rayvin 5220]

I know but if I summon up the courage to go in, I'll probably go in properly.

[Rayvin 5220]

The most likely scenario here is that I won't do it, it'll hit $150k by the end of 2018, and I'll be looking at this thread and cursing my lack of conviction

[TheGingerQuiff 2412]

If OCD means you would need to own one full bitcoin then fair enough

 

 There has to surely be a dip upcoming imo which is obviously the ideal time to buy

[TheGingerQuiff 2412]

6 minutes ago, adios said:

Said about every bubble ever.

 

In defence of BTC - it's potentially going to replace the entire global FX market, so it's underpinned by a lot more than traders' faith.

 

The other side - Blockchain is what's important, not BTC, which has no inherent right to its position other than being out front right now.  I can envisage scenarios where the US fucks it, but if you look at how countries like Japan are treating it, it's probably out of the bag and too late for them to control it.

 

Overall, from the little I know, l think BTC is going to 10x again in the next couple years and I'm seriously considering putting a fair amount in.

 

Someone said earlier they were investing in companies strong on Blockchain, that's the safe bet, but I hate safe bets.

 

Have you read about IOTA?

[adios 717]

I wouldn't worry about dips too much unless you're doing short-term trades.  If you're in for the long haul it's not that relevant and something that is trending upwards is more likely to go up than down.

[adios 717]

1 minute ago, TheGingerQuiff said:

 

Have you read about IOTA?

No; another crypto?

[TheGingerQuiff 2412]

Just now, adios said:

I wouldn't worry about dips too much unless you're doing short-term trades.  If you're in for the long haul it's not that relevant and something that is trending upwards is more likely to go up than down.

 

Aye, historically though it's always had a correction period after its mental surges and you want to buy in at the lowest price still

[adios 717]

My mate who's all-in on BTC just referred to IOTA as "full of shit coin".  Bitter at missing out?  

[TheGingerQuiff 2412]

2 minutes ago, adios said:

No; another crypto?

 

Yeah. It's technology means that when you make a transaction you verify two others. Effectively making mining obsolete and transactions free. Made a deal with microsoft and surged 10x within the last week. Has called back a bit now but long term it has huge potential

[tooner 243]

9 minutes ago, adios said:

Said about every bubble ever.

 

In defence of BTC - it's potentially going to replace the entire global FX market, so it's underpinned by a lot more than traders' faith.

 

The other side - Blockchain is what's important, not BTC, which has no inherent right to its position other than being out front right now.  I can envisage scenarios where the US fucks it, but if you look at how countries like Japan are treating it, it's probably out of the bag and too late for them to control it.

 

Overall, from the little I know, l think BTC is going to 10x again in the next couple years and I'm seriously considering putting a fair amount in.

 

Someone said earlier they were investing in companies strong on Blockchain, that's the safe bet, but I hate safe bets.

 This,  i think if you invest solely in BTC you're selling yourself short.  IMO one would be wiser to be investing in companies that are building their businesses on leveraging the blockchain technology, they will be able to prosper because they are making money from ALL the cryptocurrencies, not just BTC.