bitcoin trading.

peter_suckley

Do not invest its a CON

eskbanker

peter_suckley wrote: »

Do not invest its a CON

As currently worded that doesn't actually add anything to the thread - if you have any specific experience of the subject (e.g. having your fingers burnt) then it would obviously help if you explained exactly what happened and why you feel it's a con (or even a CON!), but if you just want to sound off based on what you've read or heard then that doesn't really contribute much....

MpcyroS

Good idea. Before starting you need to prepare and get basic knowledge about trading. Trading have some risks and you must keep it in mind. However, it will be a good investment and you will likely make a profit.

eskbanker

:doh:

Does anyone know when the schools go back....?

hildosaver

I laugh when I see people mocking bitcoin and ridiculing those who invested in it. This 'crash' has only brought it back to the value it was about 6 months ago. If you had bought before then you would still be quids in.


Give it a couple of years and even those who invested when it hit the ATH will be laughing imo.

Aegis

hildosaver wrote: »

I laugh when I see people mocking bitcoin and ridiculing those who invested in it. This 'crash' has only brought it back to the value it was about 6 months ago. If you had bought before then you would still be quids in.


Give it a couple of years and even those who invested when it hit the ATH will be laughing imo.

What do you feel is the right value for bitcoin, then? And why?

hildosaver

It's current value is probably about right for now but I fully expect it to rise significantly again within the next 2 years. It will have future crashes back down as well but I expect every crash to stop higher than the last. It's in it's nature to grow in value due to it's scarcity and what I believe will be a transformation of finance over the coming years. Bitcoin is virtually unstoppable at this point nomatter what the value is. It's the technology of the future.

Bravepants

hildosaver wrote: »

It's current value is probably about right for now but I fully expect it to rise significantly again within the next 2 years. It will have future crashes back down as well but I expect every crash to stop higher than the last. It's in it's nature to grow in value due to it's scarcity and what I believe will be a transformation of finance over the coming years. Bitcoin is virtually unstoppable at this point nomatter what the value is. It's the technology of the future.

Most of the limited audience for crypto currencies are probably now immune to the hype:


https://www.bloomberg.com/news/articles/2018-04-10/bitcoin-is-a-disease-in-barclays-model-that-says-prices-peaked


The recent bubble won't happen again.

Lungboy

hildosaver wrote: »

It's the technology of the future.

You're conflating the currency with the tech behind it, block chain. They are 2 very different things.

Aegis

hildosaver wrote: »

It's current value is probably about right for now but I fully expect it to rise significantly again within the next 2 years. It will have future crashes back down as well but I expect every crash to stop higher than the last.

If the value is right for now, why would it not be wrong in two years if the price goes up? The asset doesn't produce any underlying income and has no real application other than as a token of exchange, and if the mining continues there will be a larger supply in two years rather than a smaller one. As such, if the value was correct now, you'd expect the price in two years to be lower due to the expanded supply, not higher.

You go on to explain your thoughts on "why", but they don't make sense from an investment perspective.

It's in it's nature to grow in value due to it's scarcity

This should only matter if there's a practical use for the asset in question and should only actually take place with reference to a currency which is inflating. In other words, if inflation runs at 3%, you would expect a scarce but tradable asset to increase each year broadly by inflation where the supply stays broadly constant (i.e. where utilisation and introduction of new supply are similar).

There are plenty of assets out there which are scarce, but they're not expected to increase in value enormously. Why is bitcoin the exception?

and what I believe will be a transformation of finance over the coming years.

Why do you expect bitcoin to benefit from this transformation? Is it really at all likely that entire economies will switch from currencies they control to a decentralised system with ever-increasing costs to run the network, coupled with an inability to process anywhere near the number of transactions a second needed to replace even a small trading currency, let alone a significant number of them? Is it not more likely that - if blockchain genuinely is the future of finance - central banks will instead create their own?

Bitcoin is virtually unstoppable at this point nomatter what the value is. It's the technology of the future.

Blockchain is the technology. Bitcoin is a prototype demonstration of that technology. You can have blockchain without bitcoin, hence the number of cryptocurrencies now in circulation.

The problem with prototypes is that they are supplanted by better implementations of the technology.