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Buy bit coins???
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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.
But you only know that now after the fact...?
How do you know you shouldn't cash out now, because you're currently at the peak before another crash??
Presumably you didn't cash out when you were £17k up was because at the time you also thought the following:I only see this market going up in the next few years0 -
But you only know that now after the fact...?
How do you know you shouldn't cash out now, because you're currently at the peak before another crash??
Presumably you didn't cash out when you were £17k up was because at the time you also thought the following:
You can say the same with any investment, no one knows what will happen. Any investment is a gamble, crypto more so but high risk high reward. I get this forum is probably anti crypto but each to their own, I was offering the OP my advise.
I plan on holding for a few years and cashing out then as I truly believe this market will rise due to the whole decentralised tech. If it hit 17k tomorrow I wouldn't be cashing out either.0 -
Really! So whats the "market cap" of a currency then? What stocks is it low compared to?
not sure why the attitude I get you stocks/share holders aren't for crypto but each to their own!
I was referring to the total market cap of cyrptocurrency which is the the total money circulating within crypto. If you compare this to the WHOLE stock market cap its super low. Much more money will flow into it.
If your referring to a specific currency then its price x circulating supply0 -
not sure why the attitude I get you stocks/share holders aren't for crypto but each to their own!
I was referring to the total market cap of cyrptocurrency which is the the total money circulating within crypto. If you compare this to the WHOLE stock market cap its super low. Much more money will flow into it.
If your referring to a specific currency then its price x circulating supply
You are missing the point....
If you buy a share you are buying a % of the company. You can look at the market cap of the company and compare that with the company's assets, its turnover, annual profit, dividends etc and come to a conclusion as to whether the price is unreasonably high or unreasonably low. It's not an exact science but you can certainly get an order of magnitude number for what the price of a share in that company should be.
How do I make the same assessment with bitcoins or any of the other crypto currencies? In the past year a bitcoin has increased in value roughly 10 fold. If one was talking about a company share one could point to things like a massive increase in profits, a new highly successful product, perhaps a mining company discovering gold. For bitcoin what hast fundamentally has changed in that short period? Or was one price wrong and the other right? If so which and why?0 -
You are missing the point....
If you buy a share you are buying a % of the company. You can look at the market cap of the company and compare that with the company's assets, its turnover, annual profit, dividends etc and come to a conclusion as to whether the price is unreasonably high or unreasonably low. It's not an exact science but you can certainly get an order of magnitude number for what the price of a share in that company should be.
How do I make the same assessment with bitcoins or any of the other crypto currencies? In the past year a bitcoin has increased in value roughly 10 fold. If one was talking about a company share one could point to things like a massive increase in profits, a new highly successful product, perhaps a mining company discovering gold. For bitcoin what hast fundamentally has changed in that short period? Or was one price wrong and the other right? If so which and why?
I get what your saying and can agree bitcoin essentially doesn't have that as its just a digital coin (although some are referring it to the new gold of the digital world).
BUT There are many alt coins with solid projects releasing real products that are decentralized. Theres things like storage solutions, provable fair casinos, invoice financing and many more where the coins have a purpose and you can get an idea of the marketcap for that type of business.0 -
I was referring to the total market cap of cyrptocurrency which is the the total money circulating within crypto. If you compare this to the WHOLE stock market cap its super low. Much more money will flow into it.
Really? Do you seriously expect pension funds to pile into crypto currencies? I have invested in stock markets for decades, I would not touch Bitcoin et al with a very long pole. Unlike stocks and shares, crypto currencies have no fundamental value, which means that the value could swing wildly or even drop to zero.0 -
BUT There are many alt coins with solid projects releasing real products that are decentralized. Theres things like storage solutions, provable fair casinos, invoice financing and many more where the coins have a purpose and you can get an idea of the marketcap for that type of business.
What purpose? I have an invoice. I want it paid. I want it paid in pounds, not some volatile altcoin, because I have business expenses that need to be paid in pounds. How is cryptocurrency going to get me paid faster?
Anything that involves the buyer signing up to have money automatically deducted from their account when I ask for it isn't a goer, because if the buyer was willing to sign up for that, we'd already be using escrow.
It's a solution in search of a problem and has been for ten years. It's not going to find its problem. All this stuff about altcoins facilitating storage or invoices or smart contracts is flimflam. Nobody investing in the coin gives a crap about invoice financing. They're buying the coin because they expect to sell it to a greater fool later.0
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