Reply With QuoteMaybe you should amend the title then to reflect that you are not interested in a debate, but only fanboy chatter.Originally Posted by Chinnock
Oh wait, is not your thread.
Maybe you should amend the title then to reflect that you are not interested in a debate, but only fanboy chatter.
Oh wait, is not your thread.
Someone who lies about the little things will lie about the big things too.
I suggest you read the OP's first post.
I have. Where does it say fanboys only?
Someone who lies about the little things will lie about the big things too.
Ok. Could you give us your experience of bitcoin?
Sent from my iPhone using Tapatalk
RIAC
I bought some bitcoins for a laugh in 2011. Think I had around 40. Nothing much you could do with them then so I sold them a month or two later. Think I probably made £20 or so and thought I'd done alright. If only I knew then what I know now!
Sure.
My first contact with bitcoin was in 2011, when I looked into creating an investment product linked to bitcoin for an asset manager. I ran a project on it and my suggestion back then was that it was a) not yet possible from a regulatory perspective, b) too early from a market cycle perspective and c) likely to be one of the the next big bubbles.
In 2013/14 we looked at it again, this time contemplating the creation of a BTC ETF. But again, it proved impossible from a regulatory perspective and also not feasible due to poor liquidity of the underlying market and super high transact costs.
What's your experience, other than taking a punt?
Someone who lies about the little things will lie about the big things too.
I put £360 in a few months ago, withdew just shy of £900 a couple of weeks ago.
When you look long into an abyss, the abyss looks long into you.........
I've just worked it out. You don't like Bitcoin "fanboys" because you're employed by a large financial institution and you're worried about your future job prospects??
They look remarkably similar.
Nah, I'm sure the uncanny resemblance to what's literally the textbook illustration for "Stages in a Bubble" is just a coincidence. ;)
LOL. I used to work for a financial institution and we looked into it and found it not interesting. Why would that make me nervous about my future? Don't you think your world is a bit black/white?
* BTW, I left the financial industry years ago because I got bored and wanted to do something different. Maybe the real reason was that I had seen the light when I looked at cryptos and wanted to leave a sinking ship?
Someone who lies about the little things will lie about the big things too.
Life would be boring if it was black / white, but by Christ it would be a damned sight easier!LOL. I used to work for a financial institution and we looked into it and found it not interesting. Why would that make me nervous about my future? Don't you think your world is a bit black/white?
* BTW, I left the financial industry years ago because I got bored and wanted to do something different. Maybe the real reason was that I had seen the light when I looked at cryptos and wanted to leave a sinking ship?
I don't think these map yet. What institutional money and investors are we talking about here? That bit has not happened. Look at the size of the market and money supply. A tiny trickle has made it into Crypto.
Sent from my [device_name] using TZ-UK mobile app
Look at the log charts. Different story. Time for this to run is still open.
Sent from my [device_name] using TZ-UK mobile app
Yes and no. While you are correct about the absence of classical institutional money (most of them looked at it and balked), we are very well in the public/mania phase. People who six months ago didn't know the difference between New Kids on the Block and blockchain are now daytrading across a dozen crypto-pairs.
I have no financial dog in the game (would never dream about shorting an asset with such volatility - well, is BTC an asset in the first place?) and as such will leave the thread to those who are convinced that they have seen the light. I wish everybody plenty of success with their strategies and a new Lambo every three months.
Someone who lies about the little things will lie about the big things too.
Still think this is not anywhere near mania yet. Do a straw poll around your network to see who is in and who is not. A mania would indicate everyone and their dog was involved. This is just not the case.Yes and no. While you are correct about the absence of classical institutional money (most of them looked at it and balked), we are very well in the public/mania phase. People who six months ago didn't know the difference between New Kids on the Block and blockchain are now daytrading across a dozen crypto-pairs.
I have no financial dog in the game (would never dream about shorting an asset with such volatility - well, is BTC an asset in the first place?) and as such will leave the thread to those who are convinced that they have seen the light. I wish everybody plenty of success with their strategies and a new Lambo every three months.
The process to buy actual crypto is slow and cumbersome with daily limits, etc.
Sent from my [device_name] using TZ-UK mobile app
How many have you purchased, traded, and have you made any money doing so?
You seem to have scoped it as a business and decided that it was not for you
Sent from my iPhone using Tapatalk
Last edited by 100thmonkey; 5th February 2018 at 07:25.
RIAC
Things can always get worse. :)
Yes. This is currently about 60% correction. Bitcoin has seen 87% correction previously. So it could get worse (or better) for some.
It is not all about Bitcoin, but using it as a bellwether.
Sent from my [device_name] using TZ-UK mobile app
I am sure I have done more due diligence than you. The difference is that I have decided I won't get involved. Hence I have not bought any and made no money.
Making money in a one-directional market isn't really something which qualifies you as an expert.
This is exactly what makes the bitcoin market a hysteria. Anyone who has ever managed the purchase process think they are an expert and can advise everybody else. Pathetic.
I will leave the thread to the fanboys now, don't bother. 🥂
Someone who lies about the little things will lie about the big things too.
Im certainly no expert I just see it as a bit of fun and clearly believe / hope it does well for all concerned. That said I do find it gets a huge amount of negative comments by anyone who has read into it, we all determine risk and reward differently but abiding by the principle that you ‘put in what you want to lose’. I am happy if its takes a dump but Ill be delighted if I end up buying my girls a house each outright if / when it does gain. For the record its been very kind to me even at the current level so I am still a fan and would recommend to anyone with the caveats mentioned above.
You mention a one directional market, which direction is it going?
RIAC
So-called 'finance guy' reviews bitcoin years ago (2011,when BTC was selling for less than a pound!!), decides its broken, doesnt get involved.
Looks at BTC again, a couple of years later (complains of 'super high transaction fees' in 2013/14 when they were actually pence!) and doesn't get involved. Again.
Leaves finance because 'bored'...
Reminds me of when Decca decided not to sign the Beatles because they didnt think they had a future. I think that guy left his job too.
Anyway, thanks for passing through and sharing the benefit of your, er, expertise. You have really added to the collective knowledge.
And I see we are welcoming Beligero and his own specific brand of highly cultivated misery and negativity to the thread. On the basis of him being an utter cnut I will probably swerve this thread for a month or so, or until his attention is diverted and he finds something else break.
Good luck folks, and good luck bored finance guy- if only, eh? ROFL'ing
Sent from my [device_name] using TZ-UK mobile app
Price blah blah blah. The underlying tech is something you believe in or you don't. I do so I'm accumulating. May be a bad call, let's see. Those guys who sold their Amazon shares during the dotcom bust thinking Barnes and Noble ere going to take over the book sales world must be kicking themselves. But as I believe in the tech and what it will do at some stage in the future the current price and volatility is of no concern to me
^ and that folks, is what it is ALL about.
Sent from my [device_name] using TZ-UK mobile app
Think there is a difference between the technology and cryptocurrencies (as an asset)!
There is a huge difference.
However, it is my belief that the early established players, like Bitcoin and Eth, that continue to invest in the tech of the currency itself, will remain for the duration.
Newer currencies unless they are adding something completely new, which none so far seem to be, are just background noise (possibly good for a speculative punt at times times dependent on the media coverage).
We are in a world of crypto-currency. Until the big players find their level, and that is probably a few years away yet, then there will still be high volatility in the market.
It's just a matter of time...
Surely, investing in a company with a technical breakthrough (Amazon etc ) - which generates increased profits and dividends, is different from a technology which is increasing in apparent value - totally removed from it's ability to generate revenue................. but dependant upon a tidal wave of investment in the hope that it continues upward?
Sure Crypto currency can be a significant technology for money holding and transfer - but why should it command higher 'value' than investing in VISA?
Lots of people who have invested in it - say that it will find its own level, and become used for transactions, but surely that level is going to be a small fraction of its current value, to the extent that most investors will take a big hit?
Sure, I've always played safe with money and investments, but I really don't see what is underpinning the price of bitcoin over the last few years.
I think there’s quite a good analogy between this and the dot com bubble. Companies such as Amazon and Google were (hopefully) the bitcoin and ethereum of the day. They weren’t immune from the collapse but carried on and are now worth many times more than they were prior to the crash.
I’m sure that there will be a crash but I think there will be survivors who will continue to grow although in what way is, as yet, unknown.
I suspect you're right, just have to make sure you're not holding QXL or the buyer of friends reunited.
As someone who lost a huge amount, more than a years after tax salary, on QXL, I concur ;)
It's just a matter of time...
Hindsight is great isn't it - what about the bubble you could of made a fortune on :-)LOL. I used to work for a financial institution and we looked into it and found it not interesting. Why would that make me nervous about my future? Don't you think your world is a bit black/white?
* BTW, I left the financial industry years ago because I got bored and wanted to do something different. Maybe the real reason was that I had seen the light when I looked at cryptos and wanted to leave a sinking ship?
Last edited by maccer; 5th February 2018 at 14:48.
The clever dicks that knew what it was all about but missed on the 000s of % upside - so, so clever. In the end all bears are right and all bulls are correct - just depends on the timeframe
...and we're down another $1000 so far today. Anyone get the feeling BTC has now got much further to go? My Lambo plans are well on hold for now :0
It’s not a daily or hourly thing.
Go long and the lambo might appear!
Sent from my iPhone using Tapatalk
RIAC
The trouble is that many people will be trying to cover their losses by going long(er). Fine if they have the money to lose but with LLoyds acting as they have today many people seem to have been using money they don't have let alone money they can afford to lose.
I did ok on the dot com boom (though if I hadn't sold pacific media when I did I might have been posting this from the stateroom on my yacht ) but I saw a lot of people pile in knowing nothing and losing lots.
This has left me a bit of a sceptic and despite having a little dabble in the early days I've left cypto well alone, partly because I have had the feeling (wrongly) that the ship had sailed and partly because I like sleeping at night. With the volatility about at the moment I wouldn't be sleeping a wink at the moment.
Interesting to follow the ups and downs though.
Or it may morph into a pushbike.
Cheers,
Neil.
Hopefully a very nice pushbike. But even if it doesn’t then always fun to have a little dabbleOr it may morph into a pushbike.
Sent from my iPhone using Tapatalk
RIAC
Or it may morph into a pushbike.Depending on your risk profile, perhaps even a unicycle - http://www.bbc.co.uk/news/av/world-4...to-the-extreme
Nothing is getting sold for the foreseeable future that’s for certain. My initial investment is back in my pocket and buying a couple of handfuls of ETH about a year ago has proved to me that it’s a waiting game.
I’ll also not be buying anything until the storm is over either – well, I say that but as soon as WAN hits Binance or KuKoin I’ll be grabbing a bit :0
Again the ones who might be edgy are those purchasing from nov as it was at a high point. I have stopped following by the hour like I used to and set alerts for when it drops to a certain level then I scoop a few coins up and move on.
I know it volatile and also know it could be beautiful but my logic is we all waste money daily on shit we don’t need so having a punt on the Crypto Derby is fun and worth the risk to me in a very comfortable financial position I do not think it’s advisable for those with debts and certainly not plus never recommend buying on credit. If you can’t afford it don’t buy it. That goes for cars and bikes and houses etc.
Sent from my iPhone using Tapatalk
RIAC
What would be the correct terminology for a currency that had lost over half its value in a month?
Similar to the one that is used when it goes up 525% in a year!
Sent from my iPhone using Tapatalk
RIAC
Was 1000% but little dip
Sent from my iPhone using Tapatalk
RIAC
useless?
Last edited by Der Amf; 7th February 2018 at 10:31. Reason: Forgot which subforum I was in
Fancy dipping my toe in...ethereum for £498 on coin base. Worth a punt? Never bought any cryptos before..
Throw everything you have at it.
Personally, I’d wait until the market settles a little bit. This drop could continue.
I’ve got £750 to spend...one ethereum and maybe some lite coin?
Wouldn't get litecoin. Ethereum and Bitcoin if using coinbase.
Posting Permissions
