Buy bit coins???

Lord_Baltimore

Imho, if you are prepared to search the internet for advice from strangers about the efficacy of investing in a "crypto-currency" and if you've never thought through the potential impact of mass adoption of such a currency and if you view get-rich-quick ponzi schemes as a sound investment, go ahead and fill your boots.

They say the bigger you are the harder you fall; they should also warn that falling when you're small can also hurt and no-one will care.

ValiantSon

Outsider_83 wrote: »

Like it or not BitCoins are surging despite all predictions on here.

That is a classic example of a short-termist speculator's viewpoint. People caught up in previous bubbles all thought the same, but it didn't stop it from being a bubble. (Tulip Mania, 1634-7; South Sea Bubble, 1720; Mississippi Bubble, 1720; US Panic of 1819; US Panic of 1837; UK Railway Mania, 1840s; US Panic of 1857, Encilhamento, 1880s-90s; US Farm Bubble, 1914-20; Roaring Twenties Stock Market Bubble, 1921-29; Florida Land Bubble, 1922-6; Poseidon Bubble, 1969-70; Japanese Asset Price Bubble, 1986-91; Dot-com Bubble, 1997-2002; US Housing Bubble, 2002-6; Chinese Stock and Property Bubble, 2003-7; Bitcoin Bubble, 2011-date).

There is nothing to justify the current prices. The intrinsic value is not represented in the values at which Bitcoin is trading. This is a bubble. Those of us on here who believe that this is a bubble are joined by leading economists, including Alan Greenspan; John Quiggin; Robert J. Shiller; Vitor Constancio; Nout Wellink and leading figures in the investment world, such as Warren Buffett and Jamie Dimon. We may all be wrong, but I would be greatly surprised if we were.

Bitcoin's current price may have risen again, but by the time I hit, "Submit Reply" it could have fallen dramatically again. The price volatility is, in itself, a strong indicator that the price has become completely divorced from the intrinsic value of Bitcoin.

As Nout Wellink observed when comparing Bitcoin to Tulip Mania, "At least then you got a tulip, now you get nothing."

Superscrooge

http://metro.co.uk/2018/02/19/bitcoin-price-hit-near-zero-co-founder-rival-cryptocurrency-ethereum-warns-7323855/

Cotta

Bitcoin was £8k yesterday but today it's barely over £7k, this is ludicrous.

bowlhead99

Cotta wrote: »

Bitcoin was £8k yesterday but today it's barely over £7k, this is ludicrous.

Doesn't sound particularly ludicrous or unusual in context of movements over recent months/years.

"Ooh, bitcoin price doesn't seem to be fixed or stable- shock horror". There are only so many different ways to write the headlines so I get the feeling the press are getting a bit bored of talking about it. When it gets to £1k or £50k there will probably be another batch of headlines with people trying to think of something new to say.

TheMoniac

It's not all criminal and anonymous. The legitimate US and EU crypto exchanges now abide by anti-money laundering regulations and require proof of ID.

AstroTurtle

Outsider_83 wrote: »

Like it or not BitCoins are surging despite all predictions on here.

Like they did when the went to $20,000 then prompty crashed to $7,000 within 5 days.


Strong & Stable.

jase888

I got into Crypto in November with 2k now have 8k (so 6k profit) at one point i had 17k profit but there was a crash but still in good profit, next time il learn to cash out on way up.

I certainly would NOT advise to invest all that, at the end of the day its a gamble and sound like you will need that for if/when you buy a new house.

However I would advise you stick 1-2k in (if you can afford to lose it) as I only see this market going up in the next few years, the market cap is so low comparing it to stock market. Theres no market where you will see gains quite like this and in a few years it will probably die down. Id avise diversifying too, dont for example stick all in bitcoin, read up on some alt coins as thats where you will find the biggest gainers.

msallen

jase888 wrote: »

I only see this market going up in the next few years

Perhaps you could make even more profit from fortune telling or selling crystal balls.

jase888 wrote: »

the market cap is so low comparing it to stock market

Do you actually know the meaning of he terms you're using?

jase888

msallen wrote: »

Perhaps you could make even more profit from fortune telling or selling crystal balls.


Do you actually know the meaning of he terms you're using?

In my post I stated its a gamble and its of MY opinion I see it rising. The post is asking a question about investing and clearly looking for opinions, yes no one knows whats going to happen.

I wouldn't be using terms i don't understand.........