Spindler Posted April 28, 2019 Share Posted April 28, 2019 (edited) 21 minutes ago, dannyf said: I think the screaming at the moon comment was regarding you repeatedly saying it’s nothing and is worthless, whilst its clearly worth around $5100 right now. And the majority of your criticisms seem to be about exchanges. Yes, security is difficult and a lot of exchanges can’t be trusted. But think ahead to a future where maybe your bank could hold it, insured against theft. And they could prove they hold it by publishing addresses where it is held for example. Bitcoin allows you to be your own bank, but that doesn’t mean you have to be and it’s not for everyone. i think it is worthless and i dont have any emotion about it either way...so i think the passionate advocates of bitcoin added the drama....i'm going to clear off from this thread tbh i've learnt something from the crypto side i don't particularly like....its advocates dont like a contrarian message....and don;t play too nicely...if it even qualifies as an industry/market it is massively immature... i only wandered here out of curiosity...i'm more interested in other things inc direction of BTL and HPC....tbh I take your point btw abut $5100 and that is considered it s market value ...certainly not a punt entry point and not something i would even consider....considering my views on it.. anyway .i'm off ? Edited April 28, 2019 by Spindler Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted April 28, 2019 Share Posted April 28, 2019 7 minutes ago, Spindler said: i think it is worthless and i dont have any emotion about it either way...so i think the passionate advocates of bitcoin added the drama....i'm going to clear off from this thread tbh i've learnt something from the crypto side i don't particularly like....its advocates dont like a contrarian message....and don;t play too nicely...if it even qualifies as an industry/market it is massively immature... i only wandered here out of curiosity...i'm more interested in other things inc direction of BTL and HPC....tbh I take your point btw abut $5100 and that is considered it s market value ...certainly not a punt entry point and not something i would even consider....considering my views on it.. anyway .i'm off ? See you in 2024 Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted April 28, 2019 Share Posted April 28, 2019 Still more than a year away from the halving. 24th May 2020. Price might even be short-term over-bought considering that. you know when we are reaching mania stages when the alt pumpers flood this thread and drown out the bitcoiners. At the moment it’s still early and pretty subdued. it’s still pretty incredible to me that we have not hit a recession in the general economy by now, it’s surely due? we are living in a world run on extremely soft money and zombies live on. negative interest rates and QE x1,000 is on the cards for the next recession, perhaps we will see new schemes when 20% of all money in your bank accounts is instantly converted to gift vouchers with a 1 year expiry date, spend it or lose it at a range of big name stores. QE is mental enough, the extent of the props for the housing market are unbelievable, god knows what they will do next. regardless of bitcoin everyone should have some kind of diversified portfolio. we will be forced to spend Quote Link to comment Share on other sites More sharing options...
longgone Posted April 28, 2019 Share Posted April 28, 2019 Runaway Inflation could be a concern however fiat can always be purchase flipped or invested to produce a return even though its value is less than the stated amount. As it stands coiners have lost more already since 2017 than I could possibly lose if inflation runs away. my fiat is valued against housing and its value is rising by the week. Quote Link to comment Share on other sites More sharing options...
markyh Posted April 28, 2019 Share Posted April 28, 2019 1 hour ago, longgone said: Runaway Inflation could be a concern however fiat can always be purchase flipped or invested to produce a return even though its value is less than the stated amount. As it stands coiners have lost more already since 2017 than I could possibly lose if inflation runs away. my fiat is valued against housing and its value is rising by the week. Only if you bought peak December 2017 and sold December 2018. If not only loses are Paper. Losses are set at the point or purchase and sale. However runaway inflation will destroy your cash savings and value of your wages in the near / midterm. If you bought Bitcoin in 2013-2016 or before you are way way way up vs inflation. Quote Link to comment Share on other sites More sharing options...
UberMonkeySmallAndChunky Posted April 28, 2019 Share Posted April 28, 2019 2 hours ago, Spindler said: i think it is worthless Others dont. Its redundant. Quote Link to comment Share on other sites More sharing options...
xiox Posted April 28, 2019 Share Posted April 28, 2019 3 hours ago, jiltedjen said: Bitcoin itself has never been hacked. Oh yeah? https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef https://www.cvedetails.com/vulnerability-list/vendor_id-12094/Bitcoin.html Quote Link to comment Share on other sites More sharing options...
longgone Posted April 28, 2019 Share Posted April 28, 2019 1 hour ago, markyh said: Only if you bought peak December 2017 and sold December 2018. If not only loses are Paper. Losses are set at the point or purchase and sale. However runaway inflation will destroy your cash savings and value of your wages in the near / midterm. If you bought Bitcoin in 2013-2016 or before you are way way way up vs inflation. Paper loses are just that on paper. On paper what was your bitcoin worth in 2017 ??. On paper how much are they worth now ??. On paper my saved fiat 200k is still just that its value is derived by what I can swap it for eventually. Have you lost 80k or not on paper.?? Quote Link to comment Share on other sites More sharing options...
UberMonkeySmallAndChunky Posted April 28, 2019 Share Posted April 28, 2019 You could swap the 200k for various stuff and probably double it to 400k by the end of monday tomorrow if you make all the right moves. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted April 28, 2019 Share Posted April 28, 2019 how much has your fiat purchasing power dropped since 2013 against houses? wheras bitcoin has outperformed even central London house prices since 2013. thats real years of your life lost. Quote Link to comment Share on other sites More sharing options...
longgone Posted April 28, 2019 Share Posted April 28, 2019 Money bitcoin gold whatever does not equal years at all. To put a price on life is ridiculous as life can not be priced.however I do understand the annalogy you are risking your years of life hoping bitcoin rises previous highs more than likely to save face. We are not at the end regarding house prices so who knows but then I only held fiat so have not lost anything really. not selling BTC in 2017 has generated a real paper loss that cannot be disputed. BTC has only one variable to value it against and that is fiat whereas houses have many variables. Quote Link to comment Share on other sites More sharing options...
UberMonkeySmallAndChunky Posted April 28, 2019 Share Posted April 28, 2019 Not buying Bitcoin at $3k a few months ago = loss. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted April 28, 2019 Share Posted April 28, 2019 Well if bitcoin is crap, yet its still costs 4000 per coin, what will it be worth when its no longer garbage and store of value when currency crashes occur? Bitcoin is worldwide. Just because the UK values housing and fiat more at the moment doesn't mean Venezuela doesn't. The governments won't regulate btc because if they did no coiners would now see it as a regular currency or store of value instead of housing and fiat. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted April 29, 2019 Share Posted April 29, 2019 If houses drop in value the U.K. economy tanks, and sterling would be trashed anyway. Saving in sterling is not a great move for a house over a long term. Waiting for a HPC while mainly in sterling in mental. better to have a good varied portfolio. Quote Link to comment Share on other sites More sharing options...
longgone Posted April 29, 2019 Share Posted April 29, 2019 Still waiting for the answer Paper loss of BTC since 2017 Quote Link to comment Share on other sites More sharing options...
markyh Posted April 29, 2019 Share Posted April 29, 2019 2 hours ago, longgone said: Still waiting for the answer Paper loss of BTC since 2017 When? December 17th peak? Is not valid people so few people chose to sell on the 17th as we only know it’s the peak now, after the fact. But if it makes you happy £77k paper loss. Small potatoes in 2 years time. But I don’t cry over it and am not selling. You have to accept the ups and downs with crypto and until 10 x gains plus more per cycle stops in in no hurry to sell. Had you put your £200k cash into a house in December 2008 you could have doubled your money. I put £100k deposit into a house in December 2008 and walked away with £250k equity in 2016. Timing in any market is everything, but no one can go back in time. Quote Link to comment Share on other sites More sharing options...
longgone Posted April 29, 2019 Share Posted April 29, 2019 5 hours ago, markyh said: When? December 17th peak? Is not valid people so few people chose to sell on the 17th as we only know it’s the peak now, after the fact. But if it makes you happy £77k paper loss. Small potatoes in 2 years time. But I don’t cry over it and am not selling. You have to accept the ups and downs with crypto and until 10 x gains plus more per cycle stops in in no hurry to sell. Had you put your £200k cash into a house in December 2008 you could have doubled your money. I put £100k deposit into a house in December 2008 and walked away with £250k equity in 2016. Timing in any market is everything, but no one can go back in time. So you sold your home in 2016 and banked the cash ?? Probably very wise that equity will probably take a hair cut had you still had the house. Sadly I only had around 120k in 2008, I had my eye on a detached place needing loads of work for 260k that is worth around 700k now. Indeed timing. If BTC goes to zero at least you won on the house equity. Quote Link to comment Share on other sites More sharing options...
markyh Posted April 29, 2019 Share Posted April 29, 2019 40 minutes ago, longgone said: So you sold your home in 2016 and banked the cash ?? Probably very wise that equity will probably take a hair cut had you still had the house. Sadly I only had around 120k in 2008, I had my eye on a detached place needing loads of work for 260k that is worth around 700k now. Indeed timing. If BTC goes to zero at least you won on the house equity. Walked away with £250k, no to much of a risk to leave devaluing fiat out of the Housing market , borrowed even more and bought a bigger house in a nicer area. Last house now so not worried about falls in prices as long as we can pay of the mortgage monthly. Anything can go to zero, even houses, if the 8-10 year climate change disasters come true that scare the pants off me there will be so many empty houses due to dead and dying population they will be effectively worth zero. Quote Link to comment Share on other sites More sharing options...
longgone Posted April 29, 2019 Share Posted April 29, 2019 49 minutes ago, markyh said: Walked away with £250k, no to much of a risk to leave devaluing fiat out of the Housing market , borrowed even more and bought a bigger house in a nicer area. Last house now so not worried about falls in prices as long as we can pay of the mortgage monthly. Anything can go to zero, even houses, if the 8-10 year climate change disasters come true that scare the pants off me there will be so many empty houses due to dead and dying population they will be effectively worth zero. There will be more to worry about than money and houses ? i don`t need a big house really it will only be for me, i already live in a big house just not mine ? Quote Link to comment Share on other sites More sharing options...
Dorkins Posted April 30, 2019 Share Posted April 30, 2019 On 29/04/2019 at 07:03, jiltedjen said: If houses drop in value the U.K. economy tanks, and sterling would be trashed anyway. Houses dropping when priced in sterling would mean that sterling was getting stronger. Quote Link to comment Share on other sites More sharing options...
longgone Posted April 30, 2019 Share Posted April 30, 2019 1 hour ago, Dorkins said: Houses dropping when priced in sterling would mean that sterling was getting stronger. Apparently overpriced gold and imaginary wealth in 1111s and 0000s is the only store of wealth here. Yet they only do that to grab more fiat potentially. Quote Link to comment Share on other sites More sharing options...
doomed Posted April 30, 2019 Share Posted April 30, 2019 I'm out for now. This could get messy with the funny business involving Bitfinex and Tether. Quote Link to comment Share on other sites More sharing options...
Jonesy74 Posted April 30, 2019 Share Posted April 30, 2019 (edited) 3 hours ago, doomed said: I'm out for now. This could get messy with the funny business involving Bitfinex and Tether. Brave call. I’ve been averaging back in from 6k to 3k to where we are now. I’m now almost at exactly the percentage allocation I want to be at (10%) so won’t be adding more (unless it drops) but won’t be selling. Will see how it plays out. Won’t matter long term Edited April 30, 2019 by dannyf Quote Link to comment Share on other sites More sharing options...
UberMonkeySmallAndChunky Posted May 1, 2019 Share Posted May 1, 2019 (edited) 9 hours ago, dannyf said: Won’t matter long term Yup, Bitcoin doesn't need any single exchange long term. Edited May 1, 2019 by UberMonkeySmallAndChunky Quote Link to comment Share on other sites More sharing options...
doomed Posted May 1, 2019 Share Posted May 1, 2019 9 hours ago, dannyf said: Won’t matter long term I agree. Quote Link to comment Share on other sites More sharing options...
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