Bitcoin (cryptocurrency)
- Thread starter vonkeynotvenky
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andy1234uk
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Don't worry mate, money isn't everything. You still have moderation to keep you going.
And you have even less than that. Imagine how shit that must be? Well, I suppose you live it.
andy1234uk
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Woah. Maybe it’s not only money.
dublinblue12
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I'd sort of disagree with this, (if its small investments) although aside from a trade of btc for lisk I don't invest myself, (I've been accepting Cryptos as payments for a software biz ages now), but from history in regards to btc it usually sees a climb after a dip which can be really fast before its inevitable dip again. The volatile nature of it all means buying when its low usually see some gains after a while if your sensible.
However I would leave well alone for now as I think it will fall much lower to around the $5000 mark this month before it pushes on again which was where it was before its recent rally and hopefully the hype dies down after all the DEC get rich quick band wagon jumpers sell off. I believe Cryptos are the future so despite all the government Backlash's dragging it down at moment it will maintain value
A couple of things to consider:
Early technology pioneers rarely become the main benefactor as Netscape, Xerox, Motorola and others will attest.
Bitcoin currently has lots of people investing money into it as a value store which somewhat stupidly devalues its use as a fiat currency.
Bitcoin crossed into the public whereby a large amount of people don't understand what it is properly, what it does, how it works or the drawbacks in it. This is just gambling as they have no economic backing to their investment.
Other cryptos look like better products. A big thing is how BTC is priced in comparison to these. It has no value to it as an actual product.
Nobody ever believes they're in a bubble until it pops.
Although BTC may or may not rise in the future, this doesn't change any of the above statements.
FlemishDuck
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Sure buying on a dip can be quite profitable, it depends if you can buy at absolute bottom before things go up again. The question is "where's the bottom".
This was floating around the internet in relation to valuation:
If you can buy at the bottom of the blow off phase perhaps it will be a good deal if bitcoin remains exchangeable for dollars, but thats a deep dip.
As it is however people who buy now would be "trying to catch a falling knife" as the investers proverb goes. The thing with buying on a serious downturn is that rarely stocks will jump up as fast as they can go down, so typically you have some time at the bottom to decide rather than it would be a matter of "it's then or never". Personally i like buying stocks when they are cheap, but you will never see me buying stocks as the stock is at a downturn of loosing 5-10% value per day, i tend to wait until the bottom is formed and the first signs of upturn gome back, basicly roughly at the point that is right above the T of time in the graph on the right.
Could not be different than gambling/speculation as there are no quarterly figures to read. There really is no data other than what bitcoin appears to be worth according to buy/sell.
This was floating around the internet in relation to valuation:
If you can buy at the bottom of the blow off phase perhaps it will be a good deal if bitcoin remains exchangeable for dollars, but thats a deep dip.
As it is however people who buy now would be "trying to catch a falling knife" as the investers proverb goes. The thing with buying on a serious downturn is that rarely stocks will jump up as fast as they can go down, so typically you have some time at the bottom to decide rather than it would be a matter of "it's then or never". Personally i like buying stocks when they are cheap, but you will never see me buying stocks as the stock is at a downturn of loosing 5-10% value per day, i tend to wait until the bottom is formed and the first signs of upturn gome back, basicly roughly at the point that is right above the T of time in the graph on the right.
Could not be different than gambling/speculation as there are no quarterly figures to read. There really is no data other than what bitcoin appears to be worth according to buy/sell.
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Blue Til Death
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For the life of me I cannot understand what this crypto currency thing is all about, ive read about it but its not sinking into this aging brain at all, mind you I can hardly work an Iphone it has to be said...!
FlemishDuck
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Doesn't matter for you, you don't need to know. I presume you don't invest in it anyways, and neither do you need it for transactions. Perhaps you see the hype and wonder if youre missing out on something but at this point it looks for the best that you hadn't stepped in recently.
SWP's back
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Some good economic debate here, well done gents.