Bitcoin (cryptocurrency)

[SWP's back]

Could not be different than gambling/speculation as there are no quarterly figures to read.

Which is gambling. There’s no quarterly figures to red when deciding on red or black and odds or even.

 

[SWP's back]

There really is no data other than what bitcoin appears to be worth according to buy/sell.

Which is why it’s speculation as opposed to investing.

 

[FlemishDuck]

Which is gambling. There’s no quarterly figures to red when deciding on red or black and odds or even.

Well yes, that was what i was saying.

I guess you misunderstood, partly because of my limitations with English. ;)

I mean for me "could not be different than gambling" baiscly means it equals gambling. But i guess you have that often used "could not be more different from ..." that made you think i was arguing differently? In Flemmish we just tend to use that "could not be different than ..." in a sort of logic of exclusion. I guess though i take the easy translatio of the dutch "dan" into the English "than" whereas i perhaps should have used "but" and said "it can not be something else but ..." which would perhaps be a more correct/less litteral translation from the dutch "niet anders zijn dan" or the french "rien d'autre qu".

Sorry my fault.

 

[SWP's back]

Well yes, that was what i was saying.

I guess you misunderstood, partly because of my limitations with English. ;)

I mean for me "could not be different than gambling" baiscly means it equals gambling. But i guess you have that often used "could not be more different from ..." that made you think i was arguing differently? In Flemmish we just tend to use that "could not be different than ..." in a sort of logic of exclusion. I guess though i take the easy translatio of the dutch "dan" into the English "than" whereas i perhaps should have used "but" and said "it can not be something else but ..." which would perhaps be a more correct/less litteral translation from the dutch "niet anders zijn dan" or the french "rien d'autre qu".

Sorry my fault.

Ah no worries buddy. Your English is considerably better than my Flemish. ;-)

 

[uncle fester]

Has anybody actually succeeded in getting a real physical - i.e. hard cash return on their investment?

 

[FlemishDuck]

Has anybody actually succeeded in getting a real physical - i.e. hard cash return on their investment?

I hope so, the first poster expressing to be investing in bitcoin here did it in a post from 2013, he should atleast have seen his theoretical value increase by loads if he held for all those years, even be still firmly in profit in this downturn. As to actually pulling large sums of normal currency out of it, that i don't know. Gambling or not, i do hope the best for the people who commited here, and that they took their profit while they could.

 

[uncle fester]

I hope so, the first poster expressing to be investing in bitcoin here did it in a post from 2013, he should atleast have seen his theoretical value increase by loads if he held for all those years, even be still firmly in profit in this downturn. As to actually pulling large sums of normal currency out of it, that i don't know. Gambling or not, i do hope the best for the people who commited here, and that they took their profit while they could.

That's what I'm getting at - Fair play to anyone whos made on it and good luck to em - its just that I've seen loads of stories/posts about people who bought in at such and such and its value is now at eye watering levels

but I've seen very little about anyone actually trousering some cash

Genuinely curious

 

[FlemishDuck]

That's what I'm getting at - Fair play to anyone whos made on it and good luck to em - its just that I've seen loads of stories/posts about people who bought in at such and such and its value is now at eye watering levels

but I've seen very little about anyone actually trousering some cash

Genuinely curious

Yeah i thought that you were more curious about that, i am kinda too as i havn't seen anoyone expressing how much they pulled out of it yet. I have seen posters claim it's easy to monitise in normal currency trough the trading platforms though and i believe they are right as long as it's in a bid/ask kind of way and the market is up for it. Basicly trading platforms allow people to trade with others between dollars and bitcoin and vice versa, so i presume that when youre selling you simply need to find a buyer (or volume) at the right price that is willing to offer the dollars. And if there isn't enough demand at that price then you sell lower if you still want to monetise and bitcoin goes lower with it. The day that all demand for bitcoin falls away however someone will be left with those 16 million bitcoins i guess. The reason why it looks a bit like a bubble or pyramid scheme is that in the past increased upticks had to come trough ever more buyers throwing themselfs on the coin, and then again it's also quite logical that bitcoin surged as it "suddently" (and deffinatly withought any outside promotion "cough*) became so popular to invest in. I guess we might have practicly reached the critical mass of people who would be up to stepping into this one i guess. In the end you take Bitcoin's max market cap of 200 billion $ and thats about for how much dollars all people spend in bitcoin and obviously those who had much of the stock at lower prices captured a lot of that and likely aint going to come back with it.

 

[hightimes]

I do. I see high net worth clients that are serious investors.

The video refers to the QS’s and recruitment specialists, engineers and project managers and every other bloke that suddenly thought they’d found the answer to life’s ills in December.

Apologies if it hit a nerve.

lol you didn't hit a nerve


apparently your recruitment specialists, engineers and project manager are different than mine

good thing we all get along together

 

[hightimes]

https://www.theverge.com/2018/1/30/...finex-tether-fiat-stablecoin-fraud-suspicions

Apparently tether and bitfinex is being investigated for fraud by US regulators.

this news made the market go down.....i sold a lot

 

[SWP's back]

apparently your recruitment specialists, engineers and project manager are different than mine

Yes I’m sure everyone you know that dived into crypto in Q4 last year when it was making the news every day is quite the expert and have avoided the bloodbath.

 

[Manchester33]

Yes I’m sure everyone you know that dived into crypto in Q4 last year when it was making the news every day is quite the expert and have avoided the bloodbath.

:')

Funny how every Tom, Dick and Harry becomes an expert on something when it's suddenly in the news every other day.

I genuinely wish anyone who invested in Bitcoin all the best. Just like I would if someone stuck their life savings on Black. Or someone who buys a lottery ticket. It doesn't make it a good investment though:

No, you should not invest in Bitcoin. The reason is that it’s not an investment. Just like gold, tulip bulbs, Beanie Babies, 1999 dotcoms without any hope of a product plan, “pre-construction pricing” Toronto condominiums you have no intent to occupy or rent out, and rare baseball cards are not investments.
These are all things that people have bought in the past, and driven to completely irrational prices, not because they did anything useful or produced any money and value to society, but solely because they thought they would be able to sell them to someone else for more in the future.
When you make this kind of purchase, which you should never do, you are speculating, which is not a useful activity. You’re playing a psychological, win-lose battle against other humans with money as the only objective.

 

[SWP's back]

^^^^^
Great post and quote.

 

[Easy]

^^^^^
Great post and quote.

You will be proved wrong, not tomorrow but in the next few years. Bitcoin may fail but another will take its place. Crypto currencies are the future whether you like it or not.

A currency backed by math and science instead of corrupt governments that can print as much as they need is obviously better.

You are as wrong on this as you were on Alexis Sanchez where you were posting in his thread everyday in December/January: “can’t wait until he’s here”, “only a few weeks until he joins us” and so on.

 

[smudgedj]

You will be proved wrong, not tomorrow but in the next few years. Bitcoin may fail but another will take its place. Crypto currencies are the future whether you like it or not.

A currency backed by math and science instead of corrupt governments that can print as much as they need is obviously better.

You are as wrong on this as you were on Alexis Sanchez where you were posting in his thread everyday in December/January: “can’t wait until he’s here”, “only a few weeks until he joins us” and so on.

Lol
Are you Cathy Newman?

If you want a non aligned, non third party liability exchange mechanism buy gold. Unless of course you're just speculating, which is what @SWP's back is saying.

 

[Easy]

Lol
Are you Cathy Newman?

If you want a non aligned, non third party liability exchange mechanism buy gold. Unless of course you're just speculating, which is what @SWP's back is saying.

I honesty believe in the technology. Enables the transfer of money very fast. Recommend everyone to try it out. You can send money Friday night from London to Tokyo and it arrives in less than hour, you don’t to wait until Monday morning or even more for it to “clear”.

Honestly I’m fed up with banks and their monopoly, they will finally have some competition. So happy to see Uber and similar apps destroy the business of all the taxis around the world that were effectively scamming their customers charging enormous prices. What Uber did to Taxi companies, crypto currencies will do to banks.

 

[andy1234uk]

You will be proved wrong, not tomorrow but in the next few years. Bitcoin may fail but another will take its place. Crypto currencies are the future whether you like it or not.

A currency backed by math and science instead of corrupt governments that can print as much as they need is obviously better.

You are as wrong on this as you were on Alexis Sanchez where you were posting in his thread everyday in December/January: “can’t wait until he’s here”, “only a few weeks until he joins us” and so on.

There’s no point engaging with him, he is a know it all who runs to google for every comment.

He is probably just upset that he didn’t keep the 100 bitcoins he had years ago as his every comment in this thread is filled with bitterness and negativity.

The fundamental tech behind these currencies is brilliant and solves a lot of problems. That said it does create problems and there are obviously some absolute scams going around so all involved need to tread with caution.

The current crash, like all the other yearly ones is a result of co-ordinated market manipulation. Essentially the really rich are scaring people into selling so they can buy cheaper, then the market will likely recover and go from strength to strength, and the manipulators will increase their wealth and hold over the markets. This crash is coinciding with the stock market having a wobble also.

Again, to play devils advocate it could all go tits and people could get seriously hurt from it, so hopefully people playing are only playing with what they can afford to lose!

 

[SWP's back]

You will be proved wrong, not tomorrow but in the next few years. Bitcoin may fail but another will take its place.

Which is and has always been my point you muppet.

There’s nowt wrong with crypto. It was the moronic bubble from nob ends “investing” expecting ten fold returns inside ten days.

 

[SWP's back]

There’s no point engaging with him, he is a know it all who runs to google for every comment.

Oh the irony. Unlike you, I’ve not relied on google nor the crypto thread on reddit nor any crypto forum for any of my comments seeing as I actually understand economics and investments and have been making money for my clients for neigh on two decades.

He is probably just upset that he didn’t keep the 100 bitcoins he had years ago as his every comment in this thread is filled with bitterness and negativity.

No, every comment, even before and during the Q4 boom was actually filled with sage advice. You don’t like the advice as it’s proving correct which also means your now losing money on a daily basis.

Don’t shoot the fucking messenger.

The fundamental tech behind these currencies is brilliant and solves a lot of problems.

Crypto is fantastic and one or two will become the standard. Not bitcoin due to the cost involved for micro transactions but others will win out.

The current crash, like all the other yearly ones is a result of co-ordinated market manipulation.

Wibble. It’s due to a sentiment led bubble like many bubbles before it. The growth was due to laypeople reading about the growth and assuming it would continue forever more as every bubble in history has.

Again, to play devils advocate it could all go tits and people could get seriously hurt from it, so hopefully people playing are only playing with what they can afford to lose!

Hmmm. Isn’t that what I’ve been saying the whole time? So why do you add it as a caveat yet when I say it, I’m bitter and negative?

What is it you do for a profession out of interest?

 

[SWP's back]

This crash is coinciding with the stock market having a wobble also.

For fucks sake. Stick to what you (reddit) (thinks they) know.

The current ‘wobble’ in the stock market is due to increased US wage growth, leading to higher inflation and increased 10 year gilt yields.

Nowt worse than amateur fucking economists deciding the Illuminati are responsible for everybthing.