BITCOIN

Zola.

Cus said:

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?

Not at all. I am not aiming to trade Bitcoin on a very short term basis, so my time horizon is far out. I am also adding to my stack when the prices are low (as well as continuing to buy index funds etc).

What events would need to happen to cut losses? It would have to be something utterly devastating, like a serious bug in the code, or some other catastrophic self inflected wound.

Everything else is just speculation and noise. 

Linton

Zola. said:

Cus said:

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?

Not at all. I am not aiming to trade Bitcoin on a very short term basis, so my time horizon is far out. I am also adding to my stack when the prices are low (as well as continuing to buy index funds etc).

What events would need to happen to cut losses? It would have to be something utterly devastating, like a serious bug in the code, or some other catastrophic self inflected wound.

Everything else is just speculation and noise. 

Are prices for Bitcoin low at the moment?  What analysis tells you that?

Bitcoin has dropped by more than 40%  (in USD) in the past year.  Why could it not drop by 40% in the next year?

Aegis

Linton said:

Zola. said:

Cus said:

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?

Not at all. I am not aiming to trade Bitcoin on a very short term basis, so my time horizon is far out. I am also adding to my stack when the prices are low (as well as continuing to buy index funds etc).

What events would need to happen to cut losses? It would have to be something utterly devastating, like a serious bug in the code, or some other catastrophic self inflected wound.

Everything else is just speculation and noise. 

Are prices for Bitcoin low at the moment?  What analysis tells you that?

Bitcoin has dropped by more than 40%  (in USD) in the past year.  Why could it not drop by 40% in the next year?

This is exactly the question I keep coming back to - how do you determine fair value so that you know whether short term movements are buying opportunities?  The answer usually seems to be "long term trend", which in my view simply doesn't adequately answer the question of where value comes from.

Malthusian

Just checked Oxford City FC's website to see how many Bitcoin a ticket costs. Surprise surprise, all their prices are quoted in GBP.

They are not accepting Bitcoin, they have a tie-in with a company that will convert your Bitcoin to fiat for a fee, so you can pay Oxford City FC fiat for football tickets.

The "lOOk at this random small business that is accepting fiat currency that has recently been converted from Bitcoin!" pitch was already old and tired in 2017.

But let's focus on the positives: £10 a match is very reasonable (even if it's Conference South), which is good news for bros who are struggling to afford their usual Football League season ticket after their savings dumped 60%.

Section62

Malthusian said:

They are not accepting Bitcoin, they have a tie-in with a company that will convert your Bitcoin to fiat for a fee, so you can pay Oxford City FC fiat for football tickets.

The same company being their recently announced shirt-back sponsor.

So a bit like announcing the catering outlets will be selling ACME pies (alongside other savoury food), at the same time as announcing the ACME Pie & Sausage Roll Company Ltd as a kit sponsor.  In some respects a commercial expediency, not an article of faith in the quality and value of the pies.

Zola.

Oxford will have the option to keep whatever Bitcoin they want from sales, or just take fiat cash... 

On the subject of football, here is a non-league team who are a heavily focused Bitcoin club, who also openly share their financial reports. 

https://www.realbedford.com/
https://www.realbedford.com/transparency
https://www.realbedford.com/income-report-june-22

If nothing else we live in interesting times 

barnstar2077

Aegis said:

Linton said:

Zola. said:

Cus said:

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?

Not at all. I am not aiming to trade Bitcoin on a very short term basis, so my time horizon is far out. I am also adding to my stack when the prices are low (as well as continuing to buy index funds etc).

What events would need to happen to cut losses? It would have to be something utterly devastating, like a serious bug in the code, or some other catastrophic self inflected wound.

Everything else is just speculation and noise. 

Are prices for Bitcoin low at the moment?  What analysis tells you that?

Bitcoin has dropped by more than 40%  (in USD) in the past year.  Why could it not drop by 40% in the next year?

This is exactly the question I keep coming back to - how do you determine fair value so that you know whether short term movements are buying opportunities?  The answer usually seems to be "long term trend", which in my view simply doesn't adequately answer the question of where value comes from.

Well, it's simple.  You start with the value of the underlying asset that the tokens you are purchasing are based upon... 

Aegis

barnstar2077 said:

Aegis said:

Linton said:

Zola. said:

Cus said:

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?

Not at all. I am not aiming to trade Bitcoin on a very short term basis, so my time horizon is far out. I am also adding to my stack when the prices are low (as well as continuing to buy index funds etc).

What events would need to happen to cut losses? It would have to be something utterly devastating, like a serious bug in the code, or some other catastrophic self inflected wound.

Everything else is just speculation and noise. 

Are prices for Bitcoin low at the moment?  What analysis tells you that?

Bitcoin has dropped by more than 40%  (in USD) in the past year.  Why could it not drop by 40% in the next year?

This is exactly the question I keep coming back to - how do you determine fair value so that you know whether short term movements are buying opportunities?  The answer usually seems to be "long term trend", which in my view simply doesn't adequately answer the question of where value comes from.

Well, it's simple.  You start with the value of the underlying asset that the tokens you are purchasing are based upon... 

That certainly tends to be the conclusion I eventually reach with any attempt to value these tokens.

jcontest

Aegis said:

Linton said:

Zola. said:

Cus said:

After the last few minutes months has it shook you Zola our are you still committed?  

What kind of events need to happen for you to cut losses?
Comment: This is not a dig, I'd like to know what a pro bitcoin investor thinks?

Not at all. I am not aiming to trade Bitcoin on a very short term basis, so my time horizon is far out. I am also adding to my stack when the prices are low (as well as continuing to buy index funds etc).

What events would need to happen to cut losses? It would have to be something utterly devastating, like a serious bug in the code, or some other catastrophic self inflected wound.

Everything else is just speculation and noise. 

Are prices for Bitcoin low at the moment?  What analysis tells you that?

Bitcoin has dropped by more than 40%  (in USD) in the past year.  Why could it not drop by 40% in the next year?

This is exactly the question I keep coming back to - how do you determine fair value so that you know whether short term movements are buying opportunities?  The answer usually seems to be "long term trend", which in my view simply doesn't adequately answer the question of where value comes from.

There is nothing to back the value of BTC.  If I buy 20,000 lottery tickets today they have no value at all (Until draw date), it is the same thing.  BTC has thus far been nothing more than a self fulfilling ponzi scheme.  I did "mine" coins and ran a full node way back when they were worthless, I may have even mined a few coins - Honestly don't remember and I can't find my wallets (I had I think 5).  In the "Developed" world BTC is obviously a huge risk, in highly unstable parts of the world (rampant inflation) BTC COULD help those who have high wealth.  Just keep in mind that BTC can be taxed as CGT in the UK and in other parts of the world too.

If you did want to assign an actual "value" to BTC then it would likely be the mining cost and that's stuck somewhere between $15k and $20k.  Mining cost will continually move upwards so sure there is a trend in that regard.

It's a lottery ticket.  It may pay out big or you may walk away with nothing.

thegentleway

it does look like gambling to me.
blockchain is great and I can see crypto being internet money but it’s gambling on which coin(s) will prevail. Seems to me the odds of the original prototype being the dominant one are very low.