wsn03 Posted July 2, 2018 Share Posted July 2, 2018 11 hours ago, jiltedjen said: i have said previously that bitcoin works better as a store of value than a currency, however lightening network is now making transactions smoother. Your best ever..... Here let me pay you a crypto tip, for the sheer entertainment factor you deserve it. Here you go 1 0 1 1 1 0 1 0 0 0 0 1 ? Quote Link to comment Share on other sites More sharing options...
dugsbody Posted July 2, 2018 Share Posted July 2, 2018 (edited) 23 hours ago, jiltedjen said: i have said previously that bitcoin works better as a store of value than a currency, however lightening network is now making transactions smoother. Many people here argued for a looooong time that bitcoin was a replacement for fiat, a cash, a means of payment. Others of us argued that in the presence of fiat, no sensible person is going to be paying with something that would be worth more tomorrow when they could more safely pay with something that is worth less tomorrow. And so it turned out to be. How many Satoshis change hands in payment for goods and services? The lightning network is still newish but even so, if people were desperate for a new means of payment, why isn't it being used? 25 bitcoin capacity out of 17 million?! The amount of people who want crypto to pay for stuff is negligible. They want to hoard it and hope it makes them rich in fiat terms. Edited July 3, 2018 by dugsbody Quote Link to comment Share on other sites More sharing options...
Uncle_Kenny Posted July 2, 2018 Share Posted July 2, 2018 1 hour ago, wsn03 said: Your best ever..... Here let me pay you a crypto tip, for the sheer entertainment factor you deserve it. Here you go 1 0 1 1 1 0 1 0 0 0 0 1 ? Some people get it and some people don't I guess. Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted July 2, 2018 Share Posted July 2, 2018 10 minutes ago, Uncle_Kenny said: Some people get it and some people don't I guess. There’s not getting it, and then this. Each attempt at criticism is more and more ridiculous. Its like criticising the move from analogue tv to digital and the argument being here, watch this programme, 1 1 0 0 1 0 1 1 Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted July 3, 2018 Share Posted July 3, 2018 (edited) On 30/06/2018 at 10:18, Will! said: The real power of cryptocurrencies is that the hustle never ends! Bloomberg: Crypto Coin Graveyard Fills Up Fast as ICOs Meet Their Demise Weve hardly got started in terms of killing off coins, long term theres room for maybe 5-10. Edited July 3, 2018 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted July 3, 2018 Share Posted July 3, 2018 (edited) On 02/07/2018 at 06:07, Mr Foster said: Crypto do not equal to block chain which is where the real value is Yeah yeah thats what every know-it-all new to the space says thinking they are being insightful and clever, but really your just displaying your ignorance of the tech and computer science. A blockchain is not useful without a valuable token, no token means mean no incentive structure to secure the network. Edited July 3, 2018 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted July 3, 2018 Share Posted July 3, 2018 On 02/07/2018 at 08:01, scottbeard said: You see this is what I don't get - I thought bitcoin had been invented as money, and if it's money it should be a store of value, I.e. its value should be STABLE (the same way, as people often quote, a gold coin would buy you a suit of clothes in Roman times and still buys you one today). However, a lot of people seem to be holding bitcoins expecting the value to INCREASE. The problem is that you and indeed most people are just too used to fiat and depreciating currencies. Not surprising since we are all a victims of the biggest misinformation campaign in history. But the facts tell a different story, the world was very prosperous when sound appreciating currencies were the norm. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted July 3, 2018 Share Posted July 3, 2018 https://thenextweb.com/hardfork/2018/07/02/x-signs-that-you-might-suffer-from-a-cryptocurrency-addiction/ Quote Link to comment Share on other sites More sharing options...
Acid In The Punch Bowl Posted July 3, 2018 Share Posted July 3, 2018 1 hour ago, goldbug9999 said: Yeah yeah thats what every know-it-all new to the space says thinking they are being insightful and clever, but really your just displaying your ignorance of the tech and computer science. A blockchain is not useful without a valuable token, no token means mean no incentive structure to secure the network. yup, this Quote Link to comment Share on other sites More sharing options...
Mossie Posted July 3, 2018 Share Posted July 3, 2018 On 24/06/2018 at 16:10, jiltedjen said: when the price went to $1 people were calling it a Ponzi, the price is dictated by the participants not the no-coiner trolls. Sure laugh at me when it drops below £15 and i start loosing money for now its still saving me years of work. And i have held through busts before. Why bother though? Why not cash out at highs (was it $20,000) , and then rebuy at much lower prices. All this talk of future values of $200,000 and $2,000,000 and not selling as prices falls, reminds me a bit of many homeowners mentality - although currently they've been getting the gains and no falls. Margin. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted July 3, 2018 Share Posted July 3, 2018 (edited) Don’t need to sell. At the moment it’s a worth a big house deposit, in 10 years it will be mortgage paid off and retire early. also I actually believe in it, I think bitcoin will be a force of change to the corrupt system. home—owners and boomers should never of been bailed out, the young crushed. The central banks are to blame. destory they ability to retain value in fiat, via their complete capture of any value store (houses and even gold). And suddenly we will see zombies go bust, the young can have a decent shot at live instead of all their productivity being stolen away from them. Houses would no longer be the only way to save value. They would crash compared to bitcoin Edited July 3, 2018 by jiltedjen Quote Link to comment Share on other sites More sharing options...
longgone Posted July 3, 2018 Share Posted July 3, 2018 On 02/07/2018 at 06:07, Mr Foster said: Crypto do not equal to block chain which is where the real value is, and even with block chain, it’s only just started to become useful. The run up to the December high is nothing but speculative mania, not based on any value, like a good ponzie scheme, those retail investors it needs are now spooked after the recent crash. Unlike the previous crash, where only crypto enthusiasts are burnt, when retails are burnt, they tend to stay out for a while. What you’ll find is that thousands of the projects behind the alt coins have already failed, plus the scams, manipulating exchanges, hacking, government regulation, I do not see crypto raising for a long time unless something dramatic happens. Your strategy is correct though, in this economy, because there’s no other ways to make big money these days, taking a punt is not a bad idea, as long as you’re not going to take out a loan to buy crypto. The morons did though didn't they, credit cards used to buy in on the speculative bubble. reminded my of the Dot com and HTB frenzy. i am surprised it is still $6000, it still has legs though i think it will go down to 1 or 2k then the media will push it up again with some BS like the last time. The experts look too deep and the morons buying on credit don`t think at all. from 20k down to 6k you might as well hold them to 0 or 10000000000000 which ever comes first. Quote Link to comment Share on other sites More sharing options...
markyh Posted July 4, 2018 Share Posted July 4, 2018 19 hours ago, Mossie said: Why bother though? Why not cash out at highs (was it $20,000) , and then rebuy at much lower prices. All this talk of future values of $200,000 and $2,000,000 and not selling as prices falls, reminds me a bit of many homeowners mentality - although currently they've been getting the gains and no falls. Margin. You are criticising short term decisions on long term investments choices with the benefit of hindsight! Sure you knew after the $20k December 2017 highs is was going to crash to $6k so you could cash out high and buy in lower, it was obvious wasn't it? Same as all the mini crashes during 2017 up to £20k where obvious and we should have sold and bought back. Plenty here thought that and ended up going backwards with their Crypto pots and admitted it. It's a fact if you miss the top ten % gains days in Bitcoin in a year you will lose money. Only way to capture those top ten days each year 100% is to HODL. As you can predict the future so much what should we do now between now and years end? Sell out around $6k and buy in again much lower, or buy in more now and see it rise past $20k by years end. Please tell all Sage without the insight of the past prices, predict the future. Quote Link to comment Share on other sites More sharing options...
Kosmin Posted July 4, 2018 Share Posted July 4, 2018 On 02/07/2018 at 07:50, jiltedjen said: to understand Bitcoin you really have to go right back to the basics of money creation. You talk about no intrinsic value, but what about sterling or the dollar? what are they backed by? pure confidence, same as bitcoin. Both fiat and bitcoin can be used to buy goods and services. No. I think I've explained several times. The value of fiat currencies is not based on faith but twintopt (That Which Is Necessary TO Pay Taxes). Quote Link to comment Share on other sites More sharing options...
Acid In The Punch Bowl Posted July 4, 2018 Share Posted July 4, 2018 59 minutes ago, Kosmin said: No. I think I've explained several times. The value of fiat currencies is not based on faith but twintopt (That Which Is Necessary TO Pay Taxes). For me the value and backing for Bitcoin is maths, cryptography and algorithms. After observing the actions of central banks and governments in the last couple of decades, I would prefer to entrust a portion of my money to a decentralised currency that relies on maths, cryptography and algorithms, rather than humans. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted July 4, 2018 Share Posted July 4, 2018 On 03/07/2018 at 13:35, Mossie said: Why bother though? Why not cash out at highs (was it $20,000) , and then rebuy at much lower prices. Yeah trading with hindsight is fantastic Quote Link to comment Share on other sites More sharing options...
markyh Posted July 4, 2018 Share Posted July 4, 2018 Completely off topic but I often find knowledgeable people hang around certain websites! I find myself thinking of setting up my own business in 2018 and would be heavily geared towards a webshop. Not wanting to just use ebay or Amazon but my own website that is mobile app compatible. I did trial this in 2010 via 1 and 1.co.uk but it was to heavy going. Also talking to customers simple online ordering is far more important than a flashy website. Anyone got any recommendations for webshop hosting complete packages, domain, email, webshop, website that is not really hard to set up (i'm can build PC's and Crypto rigs but i'm no code programmer), or is it better to use a stand alone webshop software and separate email, website and domain company? Anyone with any ideas please PM me or post some suggestions. GoDaddy looks interesting but no idea how good or sophisticated the webshop side is. Thanks Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted July 5, 2018 Share Posted July 5, 2018 time in market beats timing the market Quote Link to comment Share on other sites More sharing options...
longgone Posted July 5, 2018 Share Posted July 5, 2018 1 hour ago, jiltedjen said: time in market beats timing the market time will tell. i did urge a few posters to sell half when it hit 20k. i suppose a 70% loss is not too bad from highs. ? Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted July 5, 2018 Share Posted July 5, 2018 Time has told, been in since £15 and now its £5,000 i'm substantially up, through holding through two separate bubbles. Time in the market beats timing the market. But of course usual common sense stuff still applies like limiting your exposure to any single asset class. Bitcoin has continued to swell my savings portfolio, hence why i didnt buy any more in this recent but instead kept myself busy buying a cheapo mining rig. Just dont go full retard. dont get swept up in bubbles. Just buy small amounts when the price is depressed, i think the low will come sometime summer 2019, patience. When this thread is dead as a door-knob thats probably the time to buy. Any investor should have a varied portfolio of all asset classes, bitcoin being as high risk as there is, if your buying in new should limit it to about 5% of your portfolio max. Obviously dont touch alt-coins just common sense really Quote Link to comment Share on other sites More sharing options...
Mossie Posted July 6, 2018 Share Posted July 6, 2018 On 04/07/2018 at 14:56, goldbug9999 said: Yeah trading with hindsight is fantastic Not going to check but I seem to recall it was around Dec 2017 where it hit peak. I also seem to recall watching Sky News at around that time, maybe, and Michelle D and other panelists, trying to explain BitCoin and Cryptos. There were people like me who didn't understand it much. Michelle D was a big believer and had just bought some more, although she explained you didn't have to buy a full coin, or something. Opening a random page from Dec 2017, on this thread, I see some did sell, and good to them, if Dec 2017 was peaky price. It's just that when I have looked in this thread, I've think have read others suggest they expect there could be some steep falls, but that they have their minds on big new peaks. That doesn't make much sense to me, although I am not super trader or anything. I could have bought BitCoin way way back, but didn't think it would turn into anything. On 29/12/2017 at 01:25, adamLancs said: I honestly hope there's a crash. After the 2013 crash, everything went really quiet, everybody got back to work and stopped looking at graphs all day. A lot of the technologies making ground atm got started in that period of quiet. I am a big believer in the technologies that are coming through as well as Bitcoin itself. So much money has entered the sector that we really need a crash to seperate the wheat from the chaff and see what's moving. Last week was a good shake-out of new hands but there's nothing like a really good shitstorm to blow away the fluff, maybe take us down to $3000 again. Last thing we want is a really long period of stagnation because nobody dare buy for fear of entering at the top. (Disclosure: I am heavily invested in a crash having sold half my Bitcoin...) At least I'm honest... On 30/12/2017 at 09:07, doomed said: I think we have now hit peak retardation in crypto. I have exited 85% of my stake. Good luck everyone. On 30/12/2017 at 10:17, doomed said: A further 5-10x from here would not surprise me at all, but would not be surprised to see 70-80% falls too. It feels like pure gambling at present. Quote Link to comment Share on other sites More sharing options...
crypto2001 Posted July 6, 2018 Share Posted July 6, 2018 2011 $BTC Bubble pops $32 - $2 - 94% retrace 2013 bubble pops $230 - $70 - 70% retrace 2015 bubble pops $1200 - $173 85% retrace 2018 bubble pops $20,000 - $5800 71% retrace How many bubbles do you know of that could make you money if you bought at the top of every peak? We are still very very early in this asset class and this will create a huge transfer of wealth in this generation. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted July 6, 2018 Share Posted July 6, 2018 (edited) 23 hours ago, Mossie said: Not going to check but I seem to recall it was around Dec 2017 where it hit peak. I also seem to recall watching Sky News at around that time, maybe, and Michelle D and other panelists, trying to explain BitCoin and Cryptos. There were people like me who didn't understand it much. Michelle D was a big believer and had just bought some more, although she explained you didn't have to buy a full coin, or something. Opening a random page from Dec 2017, on this thread, I see some did sell, and good to them, if Dec 2017 was peaky price. It's just that when I have looked in this thread, I've think have read others suggest they expect there could be some steep falls, but that they have their minds on big new peaks. That doesn't make much sense to me, although I am not super trader or anything. I could have bought BitCoin way way back, but didn't think it would turn into anything. There are just so may ways to get it wrong. There are people on this thread who sold up pre 2017 and missed out on massive gains (although they obviously exited with a profit), even people who correctly called dec 17 peak typically bought back in well before the $5500 bottom, then there are the people who have sold out and are staying out and those that have never bough in and will not do so even now. Thing is I know I have enough crypto to be very wealthy when/if it takes off properly so I just dont see any point in risking my overall crypto level. People with no skin in the game looking in from the outside, generally with benefit of hind sight, always think it was "obvious" what was going to happen. Its a common form of delusion, the cure is to read Nassim Taleb's Fooled by randomness. Edited July 6, 2018 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
markyh Posted July 8, 2018 Share Posted July 8, 2018 Nice one goldbug9999 , as they say, a bubble is an asset price rise you don't have a position in! Quote Link to comment Share on other sites More sharing options...
Guest Posted July 8, 2018 Share Posted July 8, 2018 On 05/07/2018 at 09:39, longgone said: time will tell. i did urge a few posters to sell half when it hit 20k. i suppose a 70% loss is not too bad from highs. ? Why are you being so spiteful? (not a bitcoin holder).. The way I see it is that if you buy or have bought bitcoin is to just walk away and check the price in 5 years time, never check up on it in the mean time Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.