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Bitcoin (cryptocurrency)
- Thread starter vonkeynotvenky
- Start date
Lost 1/3 if it’s value this week.
It’s nothing if not volatile.
http://www.bbc.com/news/business-42457983
It's fucked mate. For pretty technical reasons built into the technology of Bitcoin itself, though the fact that transaction fees are in the $55 range is a pretty good one too.
And shame on you for using the Tulip market analogy. As you're a keen financial wiz, I'd expect you to know that very few people actually lost money in the Tulip market as it was all non-seasonal speculation. Here people are going to crash out of their houses in some cases.
If you're in Bitcoin, I'd advise getting out slowly over the next few weeks. It will go up again from now but when this bubble pops it will explode. Not all cryptocurrency which as an idea is good but the Bitcoin product itself.
Gareth Barry Conlon
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Bitcoin will go down as the greatest scam of all time! If you have any get out now!
SWP's back
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I know someone that remortgaged their house last month and bought bitcoin with it. He’s not having a great week.Here people are going to crash out of their houses in some cases.
denislawsbackheel
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What an utter idiot!
ChicagoBlue
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He clearly looked at the Risk-Reward equation and decided the risk was worth the reward. He may be right, if he has the balls to wait long enough. Then again, the risks may simply increase as the rewards further diminish. Such is the dilemma when deciding to speculate.I know someone that remortgaged their house last month and bought bitcoin with it. He’s not having a great week.
SWP's back
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As someone mentioned above, he’s a fucking numpty and had his first kid in the summer to boot.He clearly looked at the Risk-Reward equation and decided the risk was worth the reward. He may be right, if he has the balls to wait long enough. Then again, the risks may simply increase as the rewards further diminish. Such is the dilemma when deciding to speculate.
SWP's back
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Here speaks a man that seems to know his onions...Buy pretty much any crypto coin and you will at least double your investment by the end of 2018
Is your advice free or do I need to send you a fee?
Do what you want with it means jackshit to me.Here speaks a man that seems to know his onions...
Is your advice free or do I need to send you a fee?
Do what you want with it means jackshit to me.
What do you think about the Bitcoin block size problem and how it is going to be solved over the next few months or years?
Hopefully the Lightning Network will help solve some of these problems.What do you think about the Bitcoin block size problem and how it is going to be solved over the next few months or years?
Hopefully the Lightning Network will help solve some of these problems.
The developers of Lightning Network summed that up best.
They have found a way to stop traffic problems by using teleportation rather than just adding new lanes to motorways. Now all they need us for somebody to invent teleportation and they'll be done.
Cryptocurrency is at the early stages.....problems are expected.
Let's be honest no one can say for sure if the crypto world is scam/bubble/next big thing......only time will give us that answer.
Cryptocurrency is here to stay because it's useful and fills a need. However Bitcoin itself as a technology, in comparison to other coins, is one of those things that's extremely popular but has inbuilt problems that everybody is nervously looking around for solutions to rather than just migrating.
In my opinion, people will just end up migrating to a different coin and it will cause a REAL market crash of crypto. This is our first go around with the technology and unless they find some way to iron out the flaws I think they'll be in for a world of hurt.
Cryptocurrency is here to stay because it's useful and fills a need. However Bitcoin itself as a technology, in comparison to other coins, is one of those things that's extremely popular but has inbuilt problems that everybody is nervously looking around for solutions to rather than just migrating.
In my opinion, people will just end up migrating to a different coin and it will cause a REAL market crash of crypto. This is our first go around with the technology and unless they find some way to iron out the flaws I think they'll be in for a world of hurt.
Not sure myself if Bitcoin in the long run will be the Daddy coin as shown in the past with things like Myspace/Facebook Flutter/Betfair
ChicagoBlue
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I believe that sentiment was self evident in my last word....speculate!As someone mentioned above, he’s a fucking numpty and had his first kid in the summer to boot.
The Question I ask myself is what will I regret more.....
Putting 5k in cryptocurrency losing it or doing nothing and learning in 5-10 years time the investment would be worth 500k.
I will risk the 5k.
That's just gambling though. You can afford to bet the 5k which is fine but it's not some sound financial planning, it's just a gamble that perhaps a single item will gain several thousand percent gains.
Maybe it will or maybe it won't.
I'd argue that a better use of your money would be putting away 6 months of living expenses into a savings account, then with any change on that you should start investing into a SIPP and an ISA to create a small passive liveable income rather than throwing 5k at the tables like you're in Vegas.
It's your money but I go with "sensible long term strategy" over "hit and hope" any day.
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That's just gambling though. You can afford to bet the 5k which is fine but it's not some sound financial planning, it's just a gamble that perhaps a single item will gain several thousand percent gains.
Maybe it will or maybe it won't.
I'd argue that a better use of your money would be putting away 6 months of living expenses into a savings account, then with any change on that you should start investing into a SIPP and an ISA to create a small passive liveable income rather than throwing 5k at the tables like you're in Vegas.
It's your money but I go with "sensible long term strategy" over "hit and hope" any day.
Please tell me this is a wind up?