Cryptocurrency

[dev null]

And the people are not falling for the new enthusiasm around BTC again. They have already been burned.

 

The thing about BTC: If you make money, someone else is losing money. So, effectively it is a Ponzi scheme. There is no product being sold to provide a gowing income in which all shareholders derive value from, unless I am mistaken. 

[Eldron]

The tip of the pyramid scheme have made their money - now is the time the bottom feeders get burnt badly...

[Odinson]

Phew. Got out with a little extra dosh.

 

The assault on the cryptomarket is intensifying by the day. It's also being killed off by the early adopters - the whales - and the like, who manipulated the market to make their $. 

 

It's a shame though. This manipulation of cryptocurrencies might just end up tainting the real world tech that underly the different currencies. 

[Letum911]

ETH dropped like a rock over the past 48 hours. I initially bought (very little) at around R11k / ETH. It dropped to just over R7k this morning and seems to be picking up now again. 

 

I reckon the international clamp down is hitting it HARD!!!

[Odinson]

ETH dropped like a rock over the past 48 hours. I initially bought (very little) at around R11k / ETH. It dropped to just over R7k this morning and seems to be picking up now again. 

 

I reckon the international clamp down is hitting it HARD!!!

 

I bought ETH at €397.28 and sold at €764.26. 

 

The peak and drop of ETH was a bit later than BTC, so if you joined the party late in 2017, you could still offload your ETH at a profit. 

[Letum911]

I bought ETH at €397.28 and sold at €764.26. 

 

The peak and drop of ETH was a bit later than BTC, so if you joined the party late in 2017, you could still offload your ETH at a profit. 

 

I got onto the bandwagon late and only bought in early Jan

 

I'm actually considering selling at a loss, and playing the minor increases en losses at the moment. It's jumping and dropping about R300.00 at the moment

[bertusras]

Haha, so someone coined the brilliant term, Dunning-Kruggerrands, to describe Bitcoin. That's hilarious.

 

For those who don't quite understand, have a read.

 

[Odinson]

I'm really curious to see where this will all end up. 

 

Perhaps we'll be watching a documentary on Netflix in 2020 describing the 'big crypto scam of 2017'. Who knows. 

[Patchelicious]

Have any of you guys started buying CryptoKitties yet?

[Patchelicious]

I'm really curious to see where this will all end up. 

 

Perhaps we'll be watching a documentary on Netflix in 2020 describing the 'big crypto scam of 2017'. Who knows. 

I dont think it will ever come out, as the next crypto currency will be sold as better to more authentic that the previous.

 

"Jaja, we all know that BitCoin was a pump n dump scam, but CryptoKittie, NOW THAT is a legitimate investment"

[Eldron]

I'm really curious to see where this will all end up. 

 

Perhaps we'll be watching a documentary on Netflix in 2020 describing the 'big crypto scam of 2017'. Who knows. 

 

Close to zero I reckon.

 

All you're buying is hope. Hope that someone else will buy your Bitcoin for more than you paid for it.

[Coolspin]

I had a mate on facetube punting buttcoins every five minutes late last year trumpeting how well he was doing and how you better get in on the action etc etc.

Havent seen any posts about it for a while now.....strange that.

[Thor Buttox]

I dont think it will ever come out, as the next crypto currency will be sold as better to more authentic that the previous.

 

"Jaja, we all know that BitCoin was a pump n dump scam, but CryptoKittie, NOW THAT is a legitimate investment"

Is CryptoKittie the same as the great 16th century Twolip scandal in Holland?

[Pieter1]

Jis man. What a cock up. I just checked whats going on now. Hope it somehow gets better. Ah well. Luckily I did not put in big cash.

[Odinson]

Close to zero I reckon.

 

All you're buying is hope. Hope that someone else will buy your Bitcoin for more than you paid for it.

 

I don't know. The tech supporting Bitcoin and Ethereum is solid and has real world applications. So many FIs are looking into how to integrate distributed ledger tech into their IT environments. Thus, cryptocurrencies will be a part of the future, but their use as a speculation vehicle is probably over. 

 

Perhaps we'll see something like Tether be used in the future. A currency pegged to a fiat at 1:1 - you load your wallet and off you go. 

[Eldron]

I don't know. The tech supporting Bitcoin and Ethereum is solid and has real world applications. So many FIs are looking into how to integrate distributed ledger tech into their IT environments. Thus, cryptocurrencies will be a part of the future, but their use as a speculation vehicle is probably over. 

 

Perhaps we'll see something like Tether be used in the future. A currency pegged to a fiat at 1:1 - you load your wallet and off you go. 

 

I see a future for the tech - no future for Bitcoin/Ehtereum etc other than criminals doing dodgy sales.

 

I really like the "safety through complete transparency" approach of the tech and I reckon you're right - FIs will pick it up and use it.

 

Hopefully this social media hype "buy bitcoin now!" crapola will stop.