Cryptocurrency

[Wayne Potgieter]

You can avoid the taxman to a degree, buy and sell peer to peer, obviously large transaction values will be questioned in your bank account.

Example, if you wanted 1 of my ETH coins today, you EFT me R18500 and then give me your address for me to send you the 1 ETH. Easy.

 

Maybe a couple of guys on this thread wanna do that with each other, most of us got minimum 1000 posts and have been here a long time... put a WhatsApp group together or something?

 

I’d be keen if I needed the cash but I’m pretty happy sitting on my stash for the time being [emoji1417]

 

I’m happy to start the WhatsApp group, just PM me your names and numbers. Buy and sell between us and we vett any others that wanna join... don’t want skelms

Not sure if it is available in RSA, but i use www.localbitcoins.com for peer to peer. The site only allows for BTC but most of the traders do other crypto as well. This could be a nice model for you to work from?

[ChUkKy]

Not sure if it is available in RSA, but i use www.localbitcoins.com for peer to peer. The site only allows for BTC but most of the traders do other crypto as well. This could be a nice model for you to work from?

 

I dont plan to setup anything formal like a site. This also attracts the general public and then this leaves it open to any tom dick and harry to join, with the skelm.

A whatsapp group with people we are familiar with such as in this thread and give the guys on the group the chance to buy or offer to sell what they got before selling on an exchange.

The idea is a likeminded bunch, same interest ie. Crypto and if you want to buy and sell its as easy as buying a cassette from joe blogs in the classifieds here.

You welcome to add someone as long as you can vouch for them and know they are of good character.

[Wayne Potgieter]

Sheeess. Really hardcore last twelve hours.

[Eldron]

Sheeess. Really hardcore last twelve hours.

 

If you had bought 5 bitcoins a month ago you'd be $30000.00 $50,000.00 poorer now  

[Captain Fastbastard Mayhem]

Sheeess. Really hardcore last twelve hours.

#HODL

[Andrew Steer]

Sheeess. Really hardcore last twelve hours.

Hahaha... so when do we buy more   

 

Bitcoin lost nearly 50% in a couple weeks... and it's supposed to be the stable 'gold standard' one.

 

Hope people were smart and didn't get in over their heads

[Pieter1]

[ChUkKy]

Hahaha... so when do we buy more   

 

Bitcoin lost nearly 50% in a couple weeks... and it's supposed to be the stable 'gold standard' one.

 

Hope people were smart and didn't get in over their heads

 

I read an article on myBB about people having sold their cars and taken additional bonds on their houses to buy in.

If youre that stupid with money, you deserve to lose it.

[dev null]

There is a reason Warren Buffett stays away from BitCoin.

[Andrew Steer]

There is a reason Warren Buffett stays away from BitCoin.

 

Because in his own words, he doesn't have a good enough understanding of it... 

 

(I personally think most people don't)

[Odinson]

It's all about dat #HODL. 

 

What I invested, I was prepared to lose. That being said, I think there should be a further decline and once it corrects, there should be a rally again. 

Edited January 17, 2018 by Odinson

[Eldron]

Because in his own words, he doesn't have a good enough understanding of it... 

 

(I personally think most people don't)

 

Can anyone really have a good understanding of it?

 

In traditional markets there are drivers and by evaluating the drivers you have at least an educated guess (drought in region, change of CEO, new acquisition, corruption scandal etc).

 

Bitcoin hasn't been around long enough to establish any form of driver (and none of the traditional drivers are applicable).

 

I still maintain is the ultimate pyramid scheme where only the initial "investors" get really rich - after that there is a descending scale of profit until it tanks really badly and the vast majority of people get screwed.

[Andrew Steer]

Can anyone really have a good understanding of it?

 

In traditional markets there are drivers and by evaluating the drivers you have at least an educated guess (drought in region, change of CEO, new acquisition, corruption scandal etc).

 

Bitcoin hasn't been around long enough to establish any form of driver (and none of the traditional drivers are applicable).

 

I still maintain is the ultimate pyramid scheme where only the initial "investors" get really rich - after that there is a descending scale of profit until it tanks really badly and the vast majority of people get screwed.

 

I kind of agree, there is/was no way of knowing where the price could go...

 

A lot of the growth was driven just by the hype and the fact it was making some people good money, and then everyone wanted in without any real understanding of what these could be used for or what they were buying. Bitcoin and Ethereum are the closest to going to market and having some practical use, but with legislation coming thick and fast who knows if even they will survive?

I'm guessing 3 or 4 will survive, settle at something resembling a stable value and become integrated in modern economics. The rest will fade away just like power balance bands 

 

I've got my little bit in Ethereum, I was way too late on Bitcoin and the others all have a few things that worry me

 

Time will tell I guess

[Eldron]

I kind of agree, there is/was no way of knowing where the price could go...

 

A lot of the growth was driven just by the hype and the fact it was making some people good money, and then everyone wanted in without any real understanding of what these could be used for or what they were buying. Bitcoin and Ethereum are the closest to going to market and having some practical use, but with legislation coming thick and fast who knows if even they will survive?

I'm guessing 3 or 4 will survive, settle at something resembling a stable value and become integrated in modern economics. The rest will fade away just like power balance bands

 

I've got my little bit in Ethereum, I was way too late on Bitcoin and the others all have a few things that worry me

 

Time will tell I guess

Ultimately cryptos are nothing more than a system - a block chain of records.

 

I reckon the system will be adopted by banks/countries and that will be the end of get rich quick crypto popularity.

 

Of course criminals and tax dodgers will keep using non bank/country backed crypto until legislation changes that.

 

But, like you said, all we have is theories in an unprecedented system. Only time will show us who is right!

Edited January 17, 2018 by Eldron

[dev null]

I kind of agree, there is/was no way of knowing where the price could go...

 

A lot of the growth was driven just by the hype and the fact it was making some people good money, and then everyone wanted in without any real understanding of what these could be used for or what they were buying. Bitcoin and Ethereum are the closest to going to market and having some practical use, but with legislation coming thick and fast who knows if even they will survive?

I'm guessing 3 or 4 will survive, settle at something resembling a stable value and become integrated in modern economics. The rest will fade away just like power balance bands 

 

I've got my little bit in Ethereum, I was way too late on Bitcoin and the others all have a few things that worry me

 

Time will tell I guess

 

I see Ethereum also went for a nasty dive in the last 12 hours.

Edited January 17, 2018 by Moridin

[Odinson]

The problem is that crypto markets don't behave like traditional markets. Thus, traditional speculation analyses aren't effective in predicting what the movements in the near future will be. 

 

I maintain that certain cryptos and the technology they are backed by will remain. BTC, ETH and IOTA are good examples. Stuff like Dogecoin and the hordes of other tokens are just speculative crap.