ChUkKy Posted January 17, 2018 Posted January 17, 2018 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. Wayne Potgieter 1
The Bull Shark Posted January 17, 2018 Posted January 17, 2018 There is a reason Warren Buffett stays away from BitCoin. shaper and Goodbadugly 2
Andrew Steer Posted January 17, 2018 Posted January 17, 2018 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) ChUkKy and Odinson 2
Odinson Posted January 17, 2018 Posted January 17, 2018 (edited) 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 Posted January 17, 2018 Posted January 17, 2018 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 and The Bull Shark 2
Andrew Steer Posted January 17, 2018 Posted January 17, 2018 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 ChUkKy 1
Eldron Posted January 17, 2018 Posted January 17, 2018 (edited) 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 guessUltimately 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
The Bull Shark Posted January 17, 2018 Posted January 17, 2018 (edited) 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 Posted January 17, 2018 Posted January 17, 2018 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. ChUkKy and Andrew Steer 2
bertusras Posted January 17, 2018 Posted January 17, 2018 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 feel this video sums this paragraph up quite well shaper 1
Eldron Posted January 17, 2018 Posted January 17, 2018 I feel this video sums this paragraph up quite well https://www.youtube.com/watch?v=KTf5j9LDObkPerfect! Also - wbat the ffffffffffdid I just watch???
GrahamS2 Posted January 17, 2018 Posted January 17, 2018 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.You are not far off IMO. Read a stat that 40% of BTC in circulation is held by about 100 individuals. That makes the model very susceptible to manipulation and pump & dump movements. I personally know of one person with significant holdings in BTC, and they are very much profiting from these massive movements. I believe a lot of it is being coordinated on Telegram groups. Eldron 1
Carmichael Posted January 17, 2018 Posted January 17, 2018 I feel this video sums this paragraph up quite well WTF did I just watch?
Wayne Potgieter Posted January 17, 2018 Posted January 17, 2018 0FD1E49C-7590-4372-97A7-B9DE35F4C133.jpeg Pieter1 and Andrew Steer 2
Andrew Steer Posted January 18, 2018 Posted January 18, 2018 Good pushback from Crypto last night... luckily I had just bought back in figuring we were somewhere near the bottom of this little cliff. Managed to increase my Ethereum holding nearly 25% through this little slump... could of been better if I'd gotten out a little earlier, could of been worse too though I guess Fun and games Wayne Potgieter 1
Andrew Steer Posted January 18, 2018 Posted January 18, 2018 (edited) See next post Edited January 18, 2018 by Andrew Steer
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