Bitcoin's gone a bit quiet

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  • TBC15
    TBC15 Posts: 1,452 Forumite
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    Lord_Baltimore wrote: »
    A prophetic reminder:

    This Timothy guy obviously an early riser, do you have a link to his blog? Does he have any take on safe withdrawal rates?
  • BananaRepublic
    BananaRepublic Posts: 2,103 Forumite
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    TBC15 wrote: »
    This Timothy guy obviously an early riser, do you have a link to his blog? Does he have any take on safe withdrawal rates?

    Be careful when dealing with Timothy, he has friends in high places.
  • TBC15
    TBC15 Posts: 1,452 Forumite
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    Are we talking the Shard? Sounds connected.
  • redux
    redux Posts: 22,976 Forumite
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    worldtraveller wrote: »
    BTC briefly fell below USD6,000 today for the first time since mid-November, down nearly 70% from the record high in December and around 55% since the start of the year.

    It's clearly still following, very closely, the Jean-Paul Rodrigue classic 'Stages in a Bubble' chart.

    Some people must be desperate, trying to talk it up to a nutty number by the end of the year.
  • coastline
    coastline Posts: 1,649 Forumite
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    worldtraveller wrote: »
    BTC briefly fell below USD6,000 today for the first time since mid-November, down nearly 70% from the record high in December and around 55% since the start of the year.

    It's clearly still following, very closely, the Jean-Paul Rodrigue classic 'Stages in a Bubble' chart.

    Funny how they play out..

    Main%20Stages%20in%20a%20Bubble.png

    DVVYnNYVQAEof7P?format=jpg
  • worldtraveller
    worldtraveller Posts: 14,012 Forumite
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    edited 8 February 2018 at 2:39AM
    coastline wrote: »
    Funny how they play out..

    Main%20Stages%20in%20a%20Bubble.png

    DVVYnNYVQAEof7P?format=jpg

    Thanks for the charts coastline. I've said in posts from many weeks ago that, as a contrarian, I may well dip in to BTC, for the first time BTW, IF and when it gets to the "Despair" phase (generally an overshoot from the mean average). It's really no different from any other investment which can often follow these, or similar phases, especially nowadays with social media involved more & more and the sheeple mentality it often stimulates. It's often said that when your taxi driver tells you to invest in something, it's clearly time to get out!

    I may dip in slightly earlier, but, quite frankly, I don't care if it doesn't hit that phase either, as there are other opportunities elsewhere, and I'm never in a rush to do anything.
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • jimjames
    jimjames Posts: 17,596 Forumite
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    Qubit wrote: »
    Nope, but Venezuela is one of the countries where Bitcoin is proving VERY popular. Because their own currency has an inflation rate of 700% + currently.

    Surely inflation in Bitcoin is higher than that when it's risen so much albeit now dropped by a massive amount too?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • System
    System Posts: 178,093 Community Admin
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    jimjames wrote: »
    Surely inflation in Bitcoin is higher than that when it's risen so much albeit now dropped by a massive amount too?
    The increase in the price of Bitcoin would have led to massive deflation if Bitcoin was used as currency, as inflation is an increase in the price of a basket of goods in terms of the currency (the value of the currency decreases in real terms).
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Well according to coastline's graph we might soon hit the pit of despair in which case even the more sensible of us could consider investing before it returns to the mean? If only I thought it was worth anything at all.
  • Lord_Baltimore
    Lord_Baltimore Posts: 1,348 Forumite
    TBC15 wrote: »
    This Timothy guy obviously an early riser, do you have a link to his blog? Does he have any take on safe withdrawal rates?
    Just checked his blog: it seems ‘safe wthdrawal’ Is unreliable, always wear a condom.
    Mornië utulië
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