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  • FIRST POST
    • oxford_yellow
    • By oxford_yellow 29th Nov 17, 9:58 AM
    • 12Posts
    • 3Thanks
    oxford_yellow
    Bitcoins/Cryptocurrency
    • #1
    • 29th Nov 17, 9:58 AM
    Bitcoins/Cryptocurrency 29th Nov 17 at 9:58 AM
    whats people's views on Crypto Currency?

    Bitcoin is all over the news with massive gains in recent months, but no main broker seems to touch it.

    is it safe? not from view of price going up/down like stocks and shares but more security/legal? heard many horror stories of coins being stolen (plain text on computers?) when you sell - you have to advertise and wait for a bid, banks cancelling accounts as fraud etc...

    does many people trade in it or have views?
Page 6
    • Sir_Robin
    • By Sir_Robin 16th May 19, 8:11 PM
    • 39 Posts
    • 43 Thanks
    Sir_Robin
    I donít expect it to keep climbing, itís not clear what is actually causing this climb as Iím not feeling the hype that accompanied the first bubble. We know there are groups out there with mark-manipulating amounts of coin.

    Iíve cashed out my tiny amount, it was fun learning about it. I liked the technology and philosophy around it but in reality few people are using it as actual currency. I concluded Itís too volatile for me to commit a substantial amount to and not worthwhile to hold a small amount .
    • pioruns
    • By pioruns 16th May 19, 10:26 PM
    • 102 Posts
    • 34 Thanks
    pioruns
    I don’t expect it to keep climbing, it’s not clear what is actually causing this climb as I’m not feeling the hype that accompanied the first bubble. We know there are groups out there with mark-manipulating amounts of coin.

    I’ve cashed out my tiny amount, it was fun learning about it. I liked the technology and philosophy around it but in reality few people are using it as actual currency. I concluded It’s too volatile for me to commit a substantial amount to and not worthwhile to hold a small amount .
    Originally posted by Sir_Robin
    First bubble? Must be clearly first for you.
    I’m not feeling the hype that accompanied the first bubble
    I am sorry that the second bubble hurt your feelings.



    "The 2011 Crash Bitcoin began the 2011 year at $.30 a coin, and on June 8th hit an intra-day high of $31.5, for a 105x return (10,500%) in less than half a year. Not even a month later it had declined some 65% to an intra-day low of $11. Less than month after that, it had dropped to $7.80, and about one month after that it closed at $4.77 for an 85% decline in just over ninety days. The highest loss, from one close to the next, was recorded at the beginning of this decline, on June 10 at nearly 39%."


    "2013: Two Crashes The 2013 year was quite a year for Bitcoin, with returns exceeding 100x yet again. It also crashed twice, and the second time it did so in such an extraordinary way that it took literally years for Bitcoin to recover."

    ...and so on.
    Last edited by pioruns; 17-05-2019 at 7:02 AM.
    • dealer wins
    • By dealer wins 17th May 19, 7:46 AM
    • 6,449 Posts
    • 12,980 Thanks
    dealer wins
    The problems with it is that no one uses it, its not safe, can be stolen/hacked without a trace etc

    I may be spectacularly wrong, but I see it going to nearly zero at some point in the not too distant future.
    • Aegis
    • By Aegis 17th May 19, 8:02 AM
    • 5,112 Posts
    • 3,449 Thanks
    Aegis
    Bitcoin and Ethereum at it again.
    Up over 100% this year.
    Will we see a new all time high?
    Originally posted by WillGates
    Again, what rational reason is there for the upswing? What's the correct price for these tokens, and how do you calculate it? Was the price closer to correct at $1,000, $1 or $20,000 per coin? I've yet to see a rational approach to pricing bitcoin or any other currency - the main two are either production cost (sunk cost fallacy) or comparison to the world currency markets (irrelevant). As such, it seems impossible to work out correct price, making any "investment" into cryptocurrency a 100% gamble.
    I am an Independent Financial Adviser
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
    • Malthusian
    • By Malthusian 17th May 19, 8:48 AM
    • 6,756 Posts
    • 10,947 Thanks
    Malthusian
    It will have a value for as long as people's need to receive and move money anonymously outweighs their fear of a dump to zero. And for as long as it has more brand awareness than Monero et al.

    (Higher number of participants in the money game = lower chance of a dump to zero before you can cash out, so Bitcoin still has an advantage over Monero et al despite its higher traceability.)

    If you refuse to accept cash because of the risk of traceability, then holding or receiving Bitcoin becomes a risk-free bet.
    • ben501
    • By ben501 17th May 19, 9:28 AM
    • 575 Posts
    • 958 Thanks
    ben501
    Again, what rational reason is there for the upswing?
    Originally posted by Aegis

    Big corporate investors buying chunks of it for smaller investors to gamble with?


    I was surprised myself with the rise after it dropped to about $3500. At first I'd just assumed it was the whales playing with naive new punters, but recent searches on the net suggest some big investors are due to start listing it in some of their products. (description from someone who's no idea what they're talking about)


    I'd thought it had been brought into enough of the public's awareness to stop any new long term pumps, certainly enough to deter me from having another go, but the current price shows just how ignorant I am on the subject.
    • Reaper
    • By Reaper 17th May 19, 1:12 PM
    • 6,686 Posts
    • 5,039 Thanks
    Reaper
    Bitcoin and Ethereum at it again.
    Up over 100% this year.
    Will we see a new all time high?
    Originally posted by WillGates
    That's a very selective time period to make it look good. Change your graph from Year To Date to 1 Year and see if it still looks so rosey.

    In short - no, it's not an indication it will suddenly rocket up to an all time high. There is no reason why it should.
    • pioruns
    • By pioruns 17th May 19, 1:15 PM
    • 102 Posts
    • 34 Thanks
    pioruns
    That's a very selective time period to make it look good. Change your graph from Year To Date to 1 Year and see if it still looks so rosey.
    Is that any better then?
    https://imgur.com/a/jkrYaij
    • Cerim
    • By Cerim 18th May 19, 11:41 AM
    • 1 Posts
    • 0 Thanks
    Cerim
    And how are things with exchangers and buying it? Who can give info?
    • pioruns
    • By pioruns 18th May 19, 11:46 AM
    • 102 Posts
    • 34 Thanks
    pioruns
    And how are things with exchangers and buying it? Who can give info?
    Originally posted by Cerim
    What is your question? Info about what? "things with exchangers"?
    • Bitcoin
    • By Bitcoin 18th May 19, 8:51 PM
    • 9 Posts
    • 13 Thanks
    Bitcoin
    And how are things with exchangers and buying it? Who can give info?
    Originally posted by Cerim
    If you are looking for an exchange, Coinbase is a good choice for beginners to get started.
    • parking_question_chap
    • By parking_question_chap 18th May 19, 9:01 PM
    • 2,395 Posts
    • 2,653 Thanks
    parking_question_chap
    Bitcoin and Ethereum at it again.
    Up over 100% this year.
    Will we see a new all time high?
    Originally posted by WillGates

    I doubt it, not enough suckers left.

    It doesnt have any inherent value, so it isnt a good investment, and its far too volatile to be useful as an alternative currency.

    If it gets anywhere near the December 2017 peak I will be very surprised. This is a dead cat bounce.
    • jonnygee2
    • By jonnygee2 18th May 19, 10:52 PM
    • 1,520 Posts
    • 1,596 Thanks
    jonnygee2
    The problems with it is that no one uses it, its not safe, can be stolen/hacked without a trace etc
    I think it does have a use - it is the only currency accepted on the 'dark web' for buying drugs, weapons etc, including in wholesale quantities. I imagine it also plays a function in more organised crime.

    That said this demand cannot be behind the current price - as silkroad was operating in 2014, when the amount of bitcoin was lower and the price was £300 or so.
    • chamelion
    • By chamelion 19th May 19, 8:44 AM
    • 195 Posts
    • 160 Thanks
    chamelion
    Can't wait to see how comments in this thread age! ��
    5.42 kWp System, E-W. Installed 30 Nov 2017.
    • ColdIron
    • By ColdIron 19th May 19, 10:43 AM
    • 5,442 Posts
    • 7,470 Thanks
    ColdIron
    I can. Presumably you weren't here December 2017 when the rampers were out in full, frothy mouthed, force
    • WillGates
    • By WillGates 26th May 19, 8:49 PM
    • 39 Posts
    • 34 Thanks
    WillGates
    Sunday surge to $8700
    • pioruns
    • By pioruns 26th May 19, 9:29 PM
    • 102 Posts
    • 34 Thanks
    pioruns
    Ladies and gentlemen, as are all in green again.


    Period Dollar Change Percent Change

    Today +$564.20 +7.00%
    Last 7 days +$438.77 +5.36%
    Last 30 days +$3,387.12 +64.63%
    Last 6 months +$4,651.57 +116.97%
    Last 1 year +$1,293.98 +17.64%
    Last 2 years +$6,380.66 +283.90%
    Last 3 years +$8,174.33 +1,801.23%
    Last 5 years +$8,058.51 +1,414.68%
    Last 7 years +$8,623.01 +167,795.41%
    • ExremelyCautiousSocialist
    • By ExremelyCautiousSocialist 27th May 19, 10:23 AM
    • 100 Posts
    • 43 Thanks
    ExremelyCautiousSocialist
    Sunday surge to $8700
    Originally posted by WillGates

    Things are looking positive.
    • Zola.
    • By Zola. 27th May 19, 10:53 AM
    • 1,520 Posts
    • 726 Thanks
    Zola.
    Its amusing watching these threads come alive again and then completely die off as BC goes south.
    • ExremelyCautiousSocialist
    • By ExremelyCautiousSocialist 27th May 19, 10:58 AM
    • 100 Posts
    • 43 Thanks
    ExremelyCautiousSocialist
    https://www.youtube.com/watch?v=XbZ8zDpX2Mg
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