Bitcoin (cryptocurrency)

i♥city! said:
Bitcoin touched the 16,000 mark yesterday, I have some bitcoins so obviously I am happy for the astronomical rise but I am a little bit concerned, I am not sure what's really going on lol. I just hope its not a bubble.
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SWP's back said:
It’s got all the hall marks of a classic bubble.

Even Dutch Tulips weren’t as crazy.
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It will drop probably slightly, then it will rise again as it always does, hold onto them coins mate.

Though its value is bound to drop at some stage (maybe when it starts hitting $100,000 + ) , ignore the old fart economists not willing to accept it, not comparable, one is a technical revolution in the way the world moves value and facilates commerce, tulips are tulips
 
Millwallawayveteran1988 said:
Reminds me of the Dotcom boom a bit. Buffets advice of sell when everyone else is buying and buy when everyone else is selling springs to mind on this one.
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Bubbles everywhere and bubbles eventually burst.
Housing the dot coms the banks.
All about exit and entry but when every man and his dog is piling in I would wager the smart money already have their exits well and truly planned.All that glitters aint gold but maybe housing is good to go as we appear to work on 10 year cyclicals ?
But then again the past isn't always an indicator of the future.
Maybe we could just go out and spend the money for it's original intention.A unit of exchange.Sounds a lot more fun.
 
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dublinblue12 said:
It will drop probably slightly, then it will rise again as it always does, hold onto them coins mate.

Though its value is bound to drop at some stage (maybe when it starts hitting $100,000 + ) , ignore the old fart economists not willing to accept it, not comparable, one is a technical revolution in the way the world moves value and facilates commerce, tulips are tulips
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Ok mate. You certainly seem to know your stuff.
 
Taxi said:
Bubbles everywhere and bubbles eventually burst.
Housing the dot coms the banks.
All about exit and entry but when every man and his dog is piling in I would wager the smart money already have their exits well and truly planned.All that glitters aint gold but maybe housing is ripe to go as we appear to work on 10 year cyclicals ?
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Maybe. I don't really like property as an investment though due to lack of liquidity.

The trick to make money long term for me is to look at the world and try to spot what will be big in 10 years time. Apple is a good example of that. Big brand, addictive, innovative. Anyone spotting that 20 years ago would have done very nicely. Facebook 10 years ago. Amazon, Google etc etc....

I look at the future and see a bleak outlook for retail on the high street and big futures for the online retailers like boo hoo and Asos.

The next ten years for me is all about more technology, people aging so healthcare companies, the emerging markets as they have more individual wealth (India, China Vietnam, Philippines etc)

I should practice what I preach. I tend to look
For short term gain and 9/10 get my fingers burned!
 
Millwallawayveteran1988 said:
Maybe. I don't really like property as an investment though due to lack of liquidity.

The trick to make money long term for me is to look at the world and try to spot what will be big in 10 years time. Apple is a good example of that. Big brand, addictive, innovative. Anyone spotting that 20 years ago would have done very nicely. Facebook 10 years ago. Amazon, Google etc etc....

I look at the future and see a bleak outlook for retail on the high street and big futures for the online retailers like boo hoo and Asos.

The next ten years for me is all about more technology, people aging so healthcare companies, the emerging markets as they have more individual wealth (India, China Vietnam, Philippines etc)

I should practice what I preach. I tend to look
For short term gain and 9/10 get my fingers burned!
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I thought that with Symbian and psion back in the day and got a good tickling.
Your right on the demise of the high streets which is such a crying shame.
Ecommerce is now accelerating forward at unbelievable levels.
Interesting to know the figure ratios this xmas for online v retail outlets ?
 
Taxi said:
I thought that with Symbian and psion back in the day and got a good tickling.
Your right on the demise of the high streets which is such a crying shame.
Ecommerce is now accelerating forward at unbelievable levels.
Interesting to know the figure ratios this xmas for online v retail outlets ?
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Yes though Manchester has been rammed the last few weeks so people still like a good shop
In City centres! It will be up to Cities and Towns to put on things (like the markets) to get people there.

Young people are App crazy now. Banks will disappear in 30/40 years as no need for them other than perhaps in the big cities. I went in the bank today to transfer some funds that I couldn't do online and the average age of those queuing must have been 70!

I bought some right crap in the dotcom boom! Lost 90% plus on most of them! As it was all on borrowed money it wasn't a smart move!
 
SWP's back said:
That would be a little harsh I think.

But it does remind me exactly of this that I studied at uni:

https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp
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]
Theres some big difference here though to that famous Bubble

The supply of tulips wassn't fixed bitcoin is fixed. Supply won't outstrip demand with Bitcoin like it did for Tulips.

Bitcoin is durable, Tulips are not. It won't deteriorate over time like Tulips.

Unlike during tulip mania,we live in a time of the internet, worlds more globbaly connected, ecommerce etc, Bitcoin can be used everywhere and is being accepted more and more as form of payment across the clear web, maybe some brick and mortor stores too, Tulips can't do that.

Bitcoin is practical, for example in economies like Venezuela were the local currency is pretty worthless,people are turning to bitcoin to store wealth, tulips serve no real purpose only to be looked at.

You don't need to own a full bitcoin to gain value on it, a quarter of a tulip is worth nothing

Once the Tulip supply outstripped the demand the price crashed. The supply of bitcoin is fixed and will reach a mathematical finite end where no new coins will be generated ever again. There is no way to increase the pace of mining while supply can still be generated in any appreciable way to meet demand as it will only drive the math to its completion sooner and the fixed finite supply will exacerbate the demand further.

For me no valid comparison between the two other than one WAS a bubble and one could be maybe

Not saying its value won't drop at some stage (I do wonder about when do I decide to cash out) and it has some other challenges facing it such fraud of ICOs, banning of crypto-exchanges, etc.
 
Millwallawayveteran1988 said:
Yes though Manchester has been rammed the last few weeks so people still like a good shop
In City centres! It will be up to Cities and Towns to put on things (like the markets) to get people there.

Young people are App crazy now. Banks will disappear in 30/40 years as no need for them other than perhaps in the big cities. I went in the bank today to transfer some funds that I couldn't do online and the average age of those queuing must have been 70!

I bought some right crap in the dotcom boom! Lost 90% plus on most of them! As it was all on borrowed money it wasn't a smart move!
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We were lambs to the slaughter and I was one of the best bottom pickers in our community :/ Falling knives eh.
Look at the highstreet banks now and you will see full automation in play.Self service banking with minimum staff equating to higher margins.
Soon they will replace me with a johhny cab but devoid of any articulate ramblings.We are human and unique whereas machines are robotic.
Is this the richer tapestry of life we all desire.Is it ?
Online shopping Online banking Online work and of course our obligatory Online chums.
No need to venture anytime out soon.I will miss my Wednesday trips to Bury.
 
dublinblue12 said:
]
Theres some big difference here though to that famous Bubble

The supply of tulips wassn't fixed bitcoin is fixed. Supply won't outstrip demand with Bitcoin like it did for Tulips.

Bitcoin is durable, Tulips are not. It won't deteriorate over time like Tulips.

Unlike during tulip mania,we live in a time of the internet, worlds more globbaly connected, ecommerce etc, Bitcoin can be used everywhere and is being accepted more and more as form of payment across the clear web, maybe some brick and mortor stores too, Tulips can't do that.

Bitcoin is practical, for example in economies like Venezuela were the local currency is pretty worthless,people are turning to bitcoin to store wealth, tulips serve no real purpose only to be looked at.

You don't need to own a full bitcoin to gain value on it, a quarter of a tulip is worth nothing

Once the Tulip supply outstripped the demand the price crashed. The supply of bitcoin is fixed and will reach a mathematical finite end where no new coins will be generated ever again. There is no way to increase the pace of mining while supply can still be generated in any appreciable way to meet demand as it will only drive the math to its completion sooner and the fixed finite supply will exacerbate the demand further.

For me no valid comparison between the two other than one WAS a bubble and one could be maybe

Not saying its value won't drop at some stage (I do wonder about when do I decide to cash out) and it has some other challenges facing it such fraud of ICOs, banning of crypto-exchanges, etc.
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I’m aware of the counter arguments fella, there is a place for bitcoin but a 17 fold increase inside 12 months is a bubble.

There have been plenty of bubbles in things that were more practical than tulips, there have been many With housing for a start. But whilst bitcoin is so volatile and illiquid (they stop trading every time it takes a dive) then it makes it very difficult for stores to actually set prices in bitcoin as there’s no guarantee that the price they set would be correct an hour later let alone a day or week after pricing.

I do really hope you make lots of money, I’m just risk averse (for my clients) and so long as you know it’s a very high risk, very volatile asset and a gamble as opposed to an investment then that’s fine.
 
Machiavelli said:
This is what will happen to kill it off. Something will be brought up regarding terrorists or folk on the dark web using it. The world’s banksters won’t allow it to flourish beyond a certain point.
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It’s not flourishing though in a traditional sense. People are buying and holding it to make money, no one is buying it for the purpose of using it to buy goods and services at present, that’s the ‘issue’ so to speak.
 
Machiavelli said:
This is what will happen to kill it off. Something will be brought up regarding terrorists or folk on the dark web using it. The world’s banksters won’t allow it to flourish beyond a certain point.
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Yeah waiting for a news article to claim it causes cancer next myself,but the terrorist thing I think is already doing the rounds so I'm sure that will be pushed more, as for the darkweb stuff, its being played out there a bit as its no longer anonymous like it uses to be and ppl are turning to Monero there
 
SWP's back said:
I’m aware of the counter arguments fella, there is a place for bitcoin but a 17 fold increase inside 12 months is a bubble.

There have been plenty of bubbles in things that were more practical than tulips, there have been many With housing for a start. But whilst bitcoin is so volatile and illiquid (they stop trading every time it takes a dive) then it makes it very difficult for stores to actually set prices in bitcoin as there’s no guarantee that the price they set would be correct an hour later let alone a day or week after pricing.

I do really hope you make lots of money, I’m just risk averse (for my clients) and so long as you know it’s a very high risk, very volatile asset and a gamble as opposed to an investment then that’s fine.
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All fair points, just saying the Tulip comparison that is constantly being pushed is not comparable. The thing with the stores setting prices is a good point potential for someone to make a lot of money there solving that issue ha
 
explain it to me like im a 10 year old...

i have £100 - i decide to invest in bitcoin ....

then what ? what happens in 1 year time ? how would i actually see a physical return into my bank balance ?
 
BlueHammer85 said:
explain it to me like im a 10 year old...

i have £100 - i decide to invest in bitcoin ....

then what ? what happens in 1 year time ? how would i actually see a physical return into my bank balance ?
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By selling it as you would any asset mate.
 
BlueHammer85 said:
explain it to me like im a 10 year old...

i have £100 - i decide to invest in bitcoin ....

then what ? what happens in 1 year time ? how would i actually see a physical return into my bank balance ?
Click to expand...
You can use a bitcoin wallet site like Cryptopay to buy and store and cash out to bank, you can also get a debit card from them(visa). The amount in your account will show in dollar, sterling, euro etc
 
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