BitCoin

masonic

ExremelyCautiousSocialist wrote: »

Panties all in a twist.

Hmm? I'm perfectly calm, thanks. I realise you are struggling in this discussion but perhaps you could focus your comments on the subject of the thread, rather than the state of others' underwear.

ExremelyCautiousSocialist

masonic wrote: »

Hmm? I'm perfectly calm, thanks.

Of course you are.

John_G_Jones

ExremelyCautiousSocialist wrote: »

This thread is about bitcoin, everyone in bitcoin uses the term ATHs.


The point about it being 85% down was in conjunction with the other stuff mentioned, like large emotional reactions and negatives in the media. Tulips and south sea not mentioned daily on forums as a potential place to put your money, not relevant. If you did mention tulips and south sea you aren't going to get about 10 people get their knickers in a twist over it within 2 hours = Bullish sign in market psychology. Same as the large emotional responce you get in housing over the years.

If you are going to move the goal posts and context each time its pointless trolling.

Being better informed than you on financial matters and setting you right is not trolling.

You thinking someone in finance is going to know the language that a few geeks on the web use is pretty foolish though.

And if you think you can g,ran anything at all about future market movements from the sentiment that you read on the web then I’ve got a Semper Augustus bulb that you may be interested in.

If you honestly believe that you can predict market movements then get a job in a hedge fund and show everyone how right you are.

I don’t believe that I can often predict movements which is why my trading desk concentrates on making money from excellent customer service and clever hedging.

parking_question_chap

ExremelyCautiousSocialist wrote: »

The fact so many people get a large emotional reaction to Bitcoin when its mentioned is bullish sign not bearish. 85% discount right now on ATHs and tons of people/media saying negatives... this is when you start to accumulate.

85% discount? Relative to what?

Just because it was trading at £14,700 in December 2017 doesnt mean it was fundamentally worth that. It reached that price through pure speculation and greed.

You could look back at January 2017, when it was trading at £750 and say todays price is 350% over valued.

And for undervalued shares I agree when a company is undervalued in the share price relative to its fundamentals then yes invest, this doesnt apply to bitcoin, people are saying negatives now because the penny has dropped that it was just a Ponzi scheme and is on the way back to zero.

parking_question_chap

ExremelyCautiousSocialist wrote: »

Well if in your scenario its preferred by everyone i assume you mean including government? fiat becomes redundant in this scenario doesn't it?

No government in their right mind would adopt crypto as their currency, look at the volatility. It would be complete anarchy.

masonic

ExremelyCautiousSocialist wrote: »

Of course you are.

I'm glad you agree. Now, back to my point that All Time High is the appropriate term to use for the highest something has ever, and will ever, reach... I note you didn't disagree (preferring the ad-hominem escape route).

coyrls

ExremelyCautiousSocialist wrote: »

Assuming it became a preferred currency volatility should decrease based on huge overall market cap. Volatility is larger in percentage terms the smaller the market cap. Its a bit of a chicken egg problem.

There is no such thing as market capitalisation of a currency.

Lungboy

fun4everyone wrote: »

The underlying value of bitcoin is that the ledger and transaction history cannot be altered by anybody. No one has control over it and nobody can manipulate it for there own ends (I am not talking about price manipulation I am talking about fraud or sanctions on transactions/transaction history).

Except that that is far from true. The Blockchain has been hacked and then rolled back, so it's a very long way from unalterable.

ExremelyCautiousSocialist

John_G_Jones wrote: »

Being better informed than you on financial matters and setting you right is not trolling.

You thinking someone in finance is going to know the language that a few geeks on the web use is pretty foolish though.

And if you think you can g,ran anything at all about future market movements from the sentiment that you read on the web then I’ve got a Semper Augustus bulb that you may be interested in.

If you honestly believe that you can predict market movements then get a job in a hedge fund and show everyone how right you are.

I don’t believe that I can often predict movements which is why my trading desk concentrates on making money from excellent customer service and clever hedging.

Now you are all upset and showing your ego to show what a big important person you are.



I do believe in good customer service, agree on that.

ExremelyCautiousSocialist

parking_question_chap wrote: »

people are saying negatives now because the penny has dropped that it was just a Ponzi scheme and is on the way back to zero.

Why now 10 years in ? why not after 2013 bull run when in 2014 bitcoin looked pretty terrible PR wise.



Your other points already covered.