GreenDevil Posted September 2, 2017 Share Posted September 2, 2017 9 hours ago, markyh said: LTC now @ $90 / £70 LTC. More than slightly narked I traded 50% of my 109 LTC holdings in ETH a few weeks ago! In Fiat as of today this has cost me £1291.40 in lost LTC price gains. But still not bothered, watching the show as my £2k 2013 investment into crypto as of today is just over £29k, having risen from £25.5k a week ago. This is so fun to watch I went to Richer Sounds today and spent £1500 on a 55" LG OLED TV. Paid in GBP Fiat of course, as its depreciating in value so fast!! Quite fancy a 911 myself. With a plate ALTC01N (or similar). If lite coin keeps on going then will be there.... Quote Link to comment Share on other sites More sharing options...
adamLancs Posted September 2, 2017 Share Posted September 2, 2017 1 hour ago, GreenDevil said: Quite fancy a 911 myself. With a plate ALTC01N (or similar). If lite coin keeps on going then will be there.... Now you really are jinxing it, I'm selling mine... Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted September 2, 2017 Share Posted September 2, 2017 5 hours ago, adamLancs said: Now you really are jinxing it, I'm selling mine... I reckon ltc is going to 1000 Quote Link to comment Share on other sites More sharing options...
markyh Posted September 2, 2017 Share Posted September 2, 2017 (edited) 19 hours ago, adamLancs said: Now you really are jinxing it, I'm selling mine... Looks like a pent up fiat crypto sell off is beginning. Wonder how long it lasts this time and how long it lasts. Will have a tot up in the morning to see what the drop is from the last 7 days hectic gains. But I just checked and all my crypto is still in its wallets so haven't lost anything, just fiat bouncing back up again. edit am: £1900 down, takes it back to where it was on Thursday! Edited September 3, 2017 by markyh loss update Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted September 3, 2017 Share Posted September 3, 2017 11 hours ago, markyh said: Looks like a pent up fiat crypto sell off is beginning. Wonder how long it lasts this time and how long it lasts. Will have a tot up in the morning to see what the drop is from the last 7 days hectic gains. But I just checked and all my crypto is still in its wallets so haven't lost anything, just fiat bouncing back up again. edit am: £1900 down, takes it back to where it was on Thursday! Big drops are good. Chance to buy more! Quote Link to comment Share on other sites More sharing options...
ThoughtCriminal Posted September 4, 2017 Share Posted September 4, 2017 Well I've had the ultimate Bitcoin shoeshine boy moment. A friend is a plumber, never had so much as an ISA in his life. Calls me over last night in the pub and in a conspiratorial manner, looking over both shoulders and whispering he says "My cousin has told me about this thing called bitcoin, everyone is making a fortune in it. I've put 10 grand in. You can't lose." Couldn't believe my ears...... Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted September 4, 2017 Share Posted September 4, 2017 20 minutes ago, ThoughtCriminal said: A friend is a plumber, never had so much as an ISA in his life. Calls me over last night in the pub and in a conspiratorial manner, looking over both shoulders and whispering he says "My cousin has told me about this thing called bitcoin, everyone is making a fortune in it. I've put 10 grand in. You can't lose." We're definitely in for a very bumpy ride over the next few years. We might end up with a retail investment driven bubble which front runs the maturity of true value adding stuff like lightning network by a couple of years. TBH in only in recent months that I've actually actively monitored the crypto scene, before that I was not even checking the BTC price for 6 months at a time. I'm not sure if we will return to that sort of relative dormancy of the market although it is possible/ Quote Link to comment Share on other sites More sharing options...
adamLancs Posted September 4, 2017 Share Posted September 4, 2017 I think most of the cryptos are in a steady decline from the July highs. I remember this happening to Litecoin after the 2013 bull run and it was run down to nothing. I think many of these cryptos will fail to reach those highs again. Not sure about Bitcoin, but $150 to $5000 was a very nice bull run. Quote Link to comment Share on other sites More sharing options...
NJT123 Posted September 4, 2017 Share Posted September 4, 2017 41 minutes ago, adamLancs said: I think most of the cryptos are in a steady decline from the July highs. I remember this happening to Litecoin after the 2013 bull run and it was run down to nothing. I think many of these cryptos will fail to reach those highs again. Not sure about Bitcoin, but $150 to $5000 was a very nice bull run. Bitcoin can go up too fast, which causes corrections. But just set that graph to 1yr, or ALL TIME. That's the trend and unless another coin takes its place, I can see $10k - $50k each coin in 1-5 years. Imagine what will happen in 2021 when no new ones are on the market.... If you haven't got a position by then well, that's your fault. I started this thread trying to let everyone know $200 was cheap. Guess what, $4,000 is cheap. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted September 4, 2017 Share Posted September 4, 2017 3 hours ago, ThoughtCriminal said: Well I've had the ultimate Bitcoin shoeshine boy moment. A friend is a plumber, never had so much as an ISA in his life. Calls me over last night in the pub and in a conspiratorial manner, looking over both shoulders and whispering he says "My cousin has told me about this thing called bitcoin, everyone is making a fortune in it. I've put 10 grand in. You can't lose." Couldn't believe my ears...... Oops he's already down 10% this morning .... Quote Link to comment Share on other sites More sharing options...
ThoughtCriminal Posted September 4, 2017 Share Posted September 4, 2017 6 minutes ago, GreenDevil said: Oops he's already down 10% this morning .... I tried telling him the potential downside but he wouldn't hear it. Quote Link to comment Share on other sites More sharing options...
Errol Posted September 4, 2017 Share Posted September 4, 2017 (edited) Ethereum, Bitcoin Crash After China Declares Initial Coin Offerings Illegal Ethereum and bitcoin are crashing this morning, after China confirmed its recent threat of an ICO crackdown (reported here last Monday) when the central bank said on Monday that initial coin offerings are illegal and disrupt financial markets, according to statement on China’s central bank website. The PBOC also asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. http://www.zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal Edited September 4, 2017 by Errol Quote Link to comment Share on other sites More sharing options...
Darby Ram Posted September 4, 2017 Share Posted September 4, 2017 4 hours ago, ThoughtCriminal said: Well I've had the ultimate Bitcoin shoeshine boy moment. A friend is a plumber, never had so much as an ISA in his life. Calls me over last night in the pub and in a conspiratorial manner, looking over both shoulders and whispering he says "My cousin has told me about this thing called bitcoin, everyone is making a fortune in it. I've put 10 grand in. You can't lose." Couldn't believe my ears...... The Paris Hilton tweet was also a good indicator of impending doom. If it wasn't for CGT, I'd have sold a lot more over the past couple of weeks. The number of mug punters is off the charts ATM. In previous bubbles, it's been the journalist class who have no idea what they are talking about, blockchain-wise. This time around, the lack of blockchain knowledge among investors is truly epic. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 4, 2017 Share Posted September 4, 2017 1 hour ago, GreenDevil said: Oops he's already down 10% this morning .... The only way to win, is not to play Quote Link to comment Share on other sites More sharing options...
ThoughtCriminal Posted September 4, 2017 Share Posted September 4, 2017 11 minutes ago, Darby Ram said: The Paris Hilton tweet was also a good indicator of impending doom. If it wasn't for CGT, I'd have sold a lot more over the past couple of weeks. The number of mug punters is off the charts ATM. In previous bubbles, it's been the journalist class who have no idea what they are talking about, blockchain-wise. This time around, the lack of blockchain knowledge among investors is truly epic. That Paris Hilton tweet has to be fake?! Please God tell me it's fake...... Quote Link to comment Share on other sites More sharing options...
Errol Posted September 4, 2017 Share Posted September 4, 2017 They look real to me. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted September 4, 2017 Share Posted September 4, 2017 BTC and BCC are weathering the storm better than the alts generally, many of the lower cap alts especially getting crucified. All good fun. Quote Link to comment Share on other sites More sharing options...
adamLancs Posted September 4, 2017 Share Posted September 4, 2017 39 minutes ago, Errol said: Ethereum, Bitcoin Crash After China Declares Initial Coin Offerings Illegal Ethereum and bitcoin are crashing this morning, after China confirmed its recent threat of an ICO crackdown (reported here last Monday) when the central bank said on Monday that initial coin offerings are illegal and disrupt financial markets, according to statement on China’s central bank website. The PBOC also asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. http://www.zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal Sadly, they have only shifted all incorporations for ICO fundraising out of the country. I don't think the practice will end because a banhammer came down in China, just like the Bitcoin price recovered when they banned the exchanges and the Chinese were left scrambling to buy through other means. Although seeing -20-30% drops across the board on already beaten-up alts is a bit of a deathknell for them. Quote Link to comment Share on other sites More sharing options...
MrFlay Posted September 4, 2017 Share Posted September 4, 2017 5 hours ago, ThoughtCriminal said: A friend is a plumber, never had so much as an ISA in his life. Calls me over last night in the pub and in a conspiratorial manner, looking over both shoulders and whispering he says "My cousin has told me about this thing called bitcoin, everyone is making a fortune in it. I've put 10 grand in. You can't lose." By my estimates he owns more bitcoin than 99.995% of the worlds population, so there is still plenty of scope for greater fools. https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html Quote Link to comment Share on other sites More sharing options...
NJT123 Posted September 4, 2017 Share Posted September 4, 2017 Bitcoin can go up too fast, which causes corrections. But just set that graph to 1yr, or ALL TIME. That's the trend and unless another coin takes its place, I can see $10k - $50k each coin in 1-5 years. Imagine what will happen in 2021 when no new ones are on the market.... If you haven't got a position by then well, that's your fault. I started this thread trying to let everyone know $200 was cheap. Guess what, $4,000 is cheap. Quote Link to comment Share on other sites More sharing options...
lombardo Posted September 4, 2017 Share Posted September 4, 2017 As a Dash holder, this has hardly dented my holdings. Quote Link to comment Share on other sites More sharing options...
Darby Ram Posted September 4, 2017 Share Posted September 4, 2017 2 hours ago, TheCountOfNowhere said: The only way to win, is not to play The sustainable way to win has been to have a small portion of your net worth in crypto and to take profits as the various bubbles have taken hold. Your paper worth will lag the all-in hodlers, but you get to bank actual cash and put it away in tax-efficient investment vehicles that are (hopefully) immune from Paris Hilton-based bear markets. YYMV, but this is my "how to own Bitcoin but also sleep at night" investment strategy. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted September 4, 2017 Share Posted September 4, 2017 3 hours ago, TheCountOfNowhere said: The only way to win, is not to play Too late, im already in and down 10% from yesterday. But then i was up 20% last week, hey ho Quote Link to comment Share on other sites More sharing options...
adamLancs Posted September 4, 2017 Share Posted September 4, 2017 Interestingly, the Chinese seem to be forcing pre-existing token issuers into liquidation and making them reimburse users. Which begs the question, if the Chinese can't invest in Chinese token issuers, will they pull funds or invest in foreign token issuers? Got a feeling it will backfire on the Chinese government. Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted September 4, 2017 Share Posted September 4, 2017 10 hours ago, ThoughtCriminal said: Well I've had the ultimate Bitcoin shoeshine boy moment. A friend is a plumber, never had so much as an ISA in his life. Calls me over last night in the pub and in a conspiratorial manner, looking over both shoulders and whispering he says "My cousin has told me about this thing called bitcoin, everyone is making a fortune in it. I've put 10 grand in. You can't lose." Couldn't believe my ears...... There is at least another one earlier in this very (very long) thread. It will be interesting to see how the "shoeshine boys/girls" react to 10% drops. Quote Link to comment Share on other sites More sharing options...
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