Wayne Potgieter Posted November 28, 2017 Share got 2k in it , haven't checked since IF ( big IF) it doubles then I'll take out the original and the profit can go big or fail ( techincally i don't lose then , right ? )How many BTC and what was your buy price? Link to comment Share on other sites More sharing options...
Eldron Posted November 28, 2017 Share So would "backed by gold" be any better? http://www.businessinsider.com/trying-to-pay-for-things-with-bitcoin-price-gold-2017-10 Edit: Spelling Yup. "Backed by" being the operative words :-) We invested paper to make measuring 1.285552762863g of gold a little easier. One of the fun ironies of Bitcoin is that it's measured using traditional currency. I really like concept of block chain transparency - the big question is - will a government adopt the tech? It's a little too transparent for most government's tastes I reckon. Link to comment Share on other sites More sharing options...
Wayne Potgieter Posted November 28, 2017 Share One of the fun ironies of Bitcoin is that it's measured using traditional currency. I really like concept of block chain transparency - the big question is - will a government adopt the tech? It's a little too transparent for most government's tastes I reckon.The irony is completely amusing. Although when trading ether and ripple, there values are being represented in both USD and BTC. Some major banks are now using blockchain, but they want to control it in a centralised server which kinda defeats the whole point Link to comment Share on other sites More sharing options...
Eldron Posted November 28, 2017 Share Some major banks are now using blockchain, but they want to control it in a centralised server which kinda defeats the whole point Hahahaha. Doh. Link to comment Share on other sites More sharing options...
Eldron Posted November 28, 2017 Share Neither is any fiat currency... Governments have assets, history, GDP, industry etc. What concrete value does Bitcoin have? None. It only has relative value. We can, of course, debate this in circles forever but the big question is: Would you buy/"invest" in it? Not me. My investments are in areas where you can make educated guesses based on a number of factors. Bitcoin is a complete gamble based on intangibles. Link to comment Share on other sites More sharing options...
GrahamS2 Posted November 28, 2017 Share Governments have assets, history, GDP, industry etc. What concrete value does Bitcoin have? None. It only has relative value. We can, of course, debate this in circles forever but the big question is: Would you buy/"invest" in it? Not me. My investments are in areas where you can make educated guesses based on a number of factors. Bitcoin is a complete gamble based on intangibles.Demand is not an intangible, and that is precisely what drives prices of BTC. There is also a limited production run (21 million) after which the price should increase further. Link to comment Share on other sites More sharing options...
Mopkop Posted November 28, 2017 Share Its nudging close to 10k USD at the moment. Two months ago, if people took Jurgens seriously they would have more than doubled their money. Like all fast moving stocks/equities/crypto it will eventually plateau or stagnate but there is money to be made in speculating it. Keep a wry eye on Etherium and Ripple. I have been transferring quite a few of my BTC into Ether and Ripple over the last few weeks and am hoping for good news. DISCLAIMER - Do not invest what you are not prepared to lose! but that can really be said for a lot of types of investments. At the moment BTC is running a bit of a wave because of major public hype. Nothing wrong with that. Last year my wife and I made a small fortune on Hatchimal toys for goodness sake because we bought up a heap just before Christmas and sold them for 5 times the price in the two weeks before Christmas. Thats speculating. We put some money into BTC and once we doubled it, we withdrew the original capital and now we are essentially playing with profit. Its a great position to be in and reduces the risk completely.And to think that a few months ago, $5000 was the December target. Should pop 10k by days end Im also holding onto my ripple and ether. I'll look into getting some more ripple. What do you think about litecoin? Link to comment Share on other sites More sharing options...
Prince Posted November 28, 2017 Share But what are you actualy buying when you get Bitcoin. What assets are underpinning the value? Eldron 1 Link to comment Share on other sites More sharing options...
Eldron Posted November 28, 2017 Share Demand is not an intangible, and that is precisely what drives prices of BTC. There is also a limited production run (21 million) after which the price should increase further. Fair enough but what drives the demand? The brand? There are tons of other cryptos around. What happens when/if they become more popular? There is no more value in Bitcoin than any other crypto. Edit: Here is the big question: How much have you invested in Bitcoin? Would you borrow R1m and invest in Bitcoin now? You could have doubled your money in the last few weeks. Theoretically. Edited November 28, 2017 by Eldron Link to comment Share on other sites More sharing options...
Dieter ( ͡° ͜ʖ ͡°) Posted November 28, 2017 Share But what are you actualy buying when you get Bitcoin. What assets are underpinning the value?You would say gold has value but then how come I can buy airtime with my bitcoin but I can't buy anything with gold. Link to comment Share on other sites More sharing options...
Wayne Potgieter Posted November 28, 2017 Share Fair enough but what drives the demand? The brand? There are tons of other cryptos around. What happens when/if they become more popular? There is no more value in Bitcoin than any other crypto.same argument could be made for hard currency. Tons of different countries. All valued differently. In my opinion a countries currency value is based on sentiment as well. Zuma fires someone, currency drops. That’s got nothing to do with gold but everything to do with sentiment. Edit sp Edited November 28, 2017 by Wayne Potgieter Link to comment Share on other sites More sharing options...
Eldron Posted November 28, 2017 Share same argument could be made for hard currency. Tons of different countries. All valued differently. In my opinion a countries currency value is based on sentiment as well. Zuma fires someone, currency drops. That’s got nothing to do with gold but everything to do with sentiment. Edit sp Agreed but ultimately global currencies are fairly accurate when you compare their currency to their economy. Not perfect of course but relatively accurate. Zume says something stupid, currency crumbles but then recovers. The system works :-) That's my beef with Bitcoin - hard currency you have data to analyse - Bitcoin you have nothing concrete. Link to comment Share on other sites More sharing options...
Eldron Posted November 28, 2017 Share Ok here's a question - who is invested in Bitcoin and how deep? No need to pull your weiner out and lie - just give us an idea. Tons of pro Bitcoiners but very few with their pensions in Bitcoin I would imagine..... Link to comment Share on other sites More sharing options...
Dieter ( ͡° ͜ʖ ͡°) Posted November 28, 2017 Share Ok here's a question - who is invested in Bitcoin and how deep? No need to pull your weiner out and lie - just give us an idea. Tons of pro Bitcoiners but very few with their pensions in Bitcoin I would imagine.....I could buy one decent MTB tyre with my BTC and ETH money Eldron and Wayne Potgieter 2 Link to comment Share on other sites More sharing options...
Wayne Potgieter Posted November 28, 2017 Share Ok here's a question - who is invested in Bitcoin and how deep? No need to pull your weiner out and lie - just give us an idea. Tons of pro Bitcoiners but very few with their pensions in Bitcoin I would imagine.....i have invested. I originally took $1,500 kiwi dollars (around R15,000) to experiment. Once we doubled we sold around $1,600 worth into hard currency and put that back into savings. We have since been using the profit and watching it grow whilst looking at other cryptos that interest me. At this stage portfolio is worth around $3,000nzd. (Excluding original capex that was withdrawn) It’s small money. But all that we are prepared to wager. This is super risky stuff. High returns always have high risk. To answer your other question around borrowing to invest, I personally feel that is unwise irrespective of method of investing. The beauty of all of this is how subjective it is based on each individuals risk taking levels. Same could be said of any type of investing. For me, this is more about education than anything else and I really enjoy the debate. Mopkop 1 Link to comment Share on other sites More sharing options...
GrahamS2 Posted November 28, 2017 Share Fair enough but what drives the demand? The brand? There are tons of other cryptos around. What happens when/if they become more popular? There is no more value in Bitcoin than any other crypto. Edit: Here is the big question: How much have you invested in Bitcoin? Would you borrow R1m and invest in Bitcoin now? You could have doubled your money in the last few weeks. Theoretically.I posted earlier in this thread that I left getting into BTC too late for my risk appetite. Lots of my mates got in early and have made substantial gains. I also have concerns about the security of crypto wallets. The demand is driven by 2 main things: 1) FOMO, hype and everyone wanting to get in on the action - remember, the price is set by each seller, not the market. Prices vary massively between different online wallets. 2) The demand for a payment mechanism that bypasses traditional state controls. This is what is driving the value the most IMO, especially now that Wall Street have run test cases successfully. Edited November 28, 2017 by GrahamS2 Link to comment Share on other sites More sharing options...
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