The Crypto coin thread

[spudulike]

I think I would have a plan to sell at a certain price as this commodity is completely new so no history. You can always buy back once the market becomes stable again which is more than you can do with ISAs!

[Mortimer Firewood]

5 minutes ago, spudulike said:

I think I would have a plan to sell at a certain price as this commodity is completely new so no history. You can always buy back once the market becomes stable again which is more than you can do with ISAs!

I agree it's all new ground and no one can predict what's going to happen. 

Myself and a few close friends have a game plan when they hit a set figure sell 50% and hope the remaining 50% rocket. 

Its gone well beyond my expectations but I'm also realistic in the fact it could crash.

[Tom D]

I already did that today, but my main coin hasn't dropped that much. 

 

[spudulike]

Sound approach in my limited experience, good luck

[Mortimer Firewood]

2 minutes ago, Tom D said:

I already did that today, but my main coin hasn't dropped that much. 

 

What time did you sell? 

[Mortimer Firewood]

Looks like the futures market is going to make bitcoin more unpredictable than it already it is.

 Should of not been allowed. 

Slowly bitcoin is becoming something it was not meant to be.

[Rob D]

3 hours ago, Mortimer Firewood said:

Looks like the futures market is going to make bitcoin more unpredictable than it already it is.

 Should of not been allowed. 

Slowly bitcoin is becoming something it was not meant to be.

Yep but I suppose it was always going to happen to a greater or lesser extent. Some coins will become more mainstream and some will stay more 'pure' to the original intention. I suppose up to the individual what they choose to invest in.

[Rob D]

18 hours ago, dan494 said:

I'd say the new futures listing combined with not as much new money going into the system has caused the massive drops in the last few days. I really do see it as a pyramid scheme more I hear about it. Its literally a computer code that you sell to someone else and people think its worth £10k + ?

Saw this vid as well, and conmen can see a con a way off..

 

 

There really is more to it than that Dan. The more I look into it (and this is going on 2 months + of online research and reading on average 2 hours a day) the more I see that Bitcoin is more real than the money we currently use today. I don't quite understand the pyramid selling anology either.

 

And the vid you have just put up - he doesn't say it was a fraud or a con - he just says it's a bubble and that people are investing in something they don't know much about.

 

There are pyramid schemes built around Bitcoin - yes - but Bitcoin itself is not a pyramid scheme.

 

 

 

 

[dan494]

well a pyramid scheme you sell something to the next guy for more than you paid with the promise that it'll be worth even more in the future so he'll make money on it. I cant for the life of me see any other value in a bitcoin or one of the many other copycat 'coins' out there. Yeah a few limited places will accept them, such as cex, but with the fluxuations between picking up a dvd and getting to the counter the price will change sunstantially! I couldn't accept payment in bitcoin for a job on the 1st not knowing if my days work will be worth the cost of a loaf of bread by end of the month, let alone pay the rent! It seems to me it went up on pure speculation that it'll do so forever. When there no more money going into the system what's the value going to do? No the chap on the vid didnt call it a con but did call it out as a bubble where lots of people are going to lose money, and given his history i'd listen to the guy, he ran those schemes and made alot of money off the backs of the wider population. maybe one of these currencies will be used for trade in the future but we're along way from regulations and worldwide adoption

 

[Vespasian]

betwixt ruminating on a topic or two brought up in this forum, one being bitcoin..

 

Its struck me a day or two ago that bitcoin as in investment is about the most dangerous out there..  perhaps if bitcoin acts in the manner it was intended then it might be OK but as a speculative adventure, its gonna make a lot of people bitcoin broke within hrs one day..

 

I thought maybe its saving grace might be that it might act as a safe haven investment harbor, but the more I think on it the less likely I see that happening...

 

human psychology being what it is, I just can't see people having confidence in a bunch of random numbers generated on the internet in times of crisis..  In fact I think the opposite be would true..  I think the first mention of an economic slowdown, bitcoin will be one of the assets dumped by investors..

 

In fact if thats true and bitcoin acts as I suspect, then its only value to most people is as a warning to us that a recession is on the way if bitcoin tanks..

 

the canary in the coalmine...