Bitcoin's gone a bit quiet

planteria

ozaz wrote: »

It is par for the course with cryptocurrencies and has been for several years. Also, all the cryptocurrencies combined are only worth about 0.5% of the world's stock markets. So, difference in coverage and concern would be completely reasonable.

that's right. there is no Bitcoin Armageddon, and rightly so.

Thrugelmir

JohnRo wrote: »

Most of the mainstream coverage seems to be negative, ill informed and based on little more than prejudice,

Investment managers I've listened to recently certainly aren't ill informed or prejudice. Yet all hold consistantly the same views. For speculators and gamblers only. Which comes across I guess as being negative.

monitorsit

Warren Buffet doesn't like Bitcoin. But his general advice holds nevertheless.

What to buy? Something that you believe has long term value.

When to buy? When you have some money.

When to sell? Don't.

If you believe Bitcoin has long term value, buy, then stop watching the charts.

(And, of course, never put all your eggs in one basket.)

AlexTheLion

It's worth noting not only was Bitcoin down, the entire Crypto chart was down in the dumps with it. Personally I scooped up on a ton of other coins which today have made a healthy profit. To the people that like Warren Buffett quotes, "Be fearful when others are greedy, and greedy when others are fearful".

ColdIron

onomatopoeia99 wrote: »

It does seem to be worthy of a new topic on here every time it goes down though

I guess this was my point. Not ten days ago this forum was spawning several threads a day, even a poll for a sub-thread and now that you can buy more for your money ... tumbleweed

It's remarkable, as in worthy of remark

onomatopoeia99

ColdIron wrote: »

I guess this was my point. Not ten days ago this forum was spawning several threads a day, even a poll for a sub-thread and now that you can buy more for your money ... tumbleweed

It's remarkable, as in worthy of remark

And despite this apparent silence there have been posts in other topics about crypto currencies today.

Don't get many posts on this forum about day trading on the FTSE either though.

Carrieanne

Whatever one's view of Bitcoin (and other cryptos), sticking a percent or two of one's net worth into it/them for diversification purposes would seem a sensible play.

fwor

Carrieanne wrote: »

Whatever one's view of Bitcoin (and other cryptos), sticking a percent or two of one's net worth into it/them for diversification purposes would seem a sensible play.

I wouldn't consider putting one or two percent of my net worth on a runner in the 2:15 at Kempton Park, nor of buying a similar amount's worth of US Dollars as an investment, so I certainly wouldn't even think about doing so with a cryptocurrency. That doesn't seem even vaguely sensible to me.

sabretoothtigger

^^ But what if it was a dead cert :money: :rotfl:

I wouldnt go as high as 1% for total net worth. Not if you struggled to get that excess wealth and definitely not for money thats only spare till the next bill.

1% for gold I've been arguing years but bitcoin unless you're within the economy of usage, maybe you send money to people abroad often then its useful.
Otherwise its just a little gamble which is equal to national lottery money.
Do people spend 1% on the lottery:beer: I used to have a workmate who spent 90% every week on beer its all relative


Im not against any blockchain but they are prototypes, its not finished. I was in the 90's market for dot com shares too. Some paid a nice income, alot didnt last.
Can always buy/add later too imo

RHemmings

I have noticed that in forum threads and newspaper comment sections that there is a pattern. When Bitcoin goes down, then bounces a bit, there are lots of comments trumpeting the 'recovery' in value. Then, when it goes down again wiping out that 'recovery': tumbleweeds.

Like any bubble, a lot of people have made money. That doesn't mean that it's a sensible investment now.