The Crypto coin thread

[Steve Bullman]

1 hour ago, jerrymor said:

Bitcoin will go up in no time.

Not for a couple years I reckon 

[doobin]

2 hours ago, jerrymor said:

Bitcoin will go up in no time.

Personally I think it will enter a death spiral. It has nothing to sustain it.

[monkeybusiness]

I can’t see how it can bounce back really - it went mental because millions of ‘investors’ swallowed the hype and bought in, forcing prices ever higher. This massive crash proved that it’s a risky investment and will put off future potential buyers, so there is a far more limited pool of people willing to buy out those who were left holding their overpriced bitcoins who can’t/won’t/daren’t sell until some of there loss has been recovered. 
I certainly wouldn’t put any money into it.

[topchippyles]

2 minutes ago, monkeybusiness said:

I can’t see how it can bounce back really - it went mental because millions of ‘investors’ swallowed the hype and bought in, forcing prices ever higher. This massive crash proved that it’s a risky investment and will put off future potential buyers, so there is a far more limited pool of people willing to buy out those who were left holding their overpriced bitcoins who can’t/won’t/daren’t sell until some of there loss has been recovered. 
I certainly wouldn’t put any money into it.

Pussy cat 🐈

[doobin]

14 minutes ago, monkeybusiness said:

I can’t see how it can bounce back really - it went mental because millions of ‘investors’ swallowed the hype and bought in, forcing prices ever higher. This massive crash proved that it’s a risky investment and will put off future potential buyers, so there is a far more limited pool of people willing to buy out those who were left holding their overpriced bitcoins who can’t/won’t/daren’t sell until some of there loss has been recovered. 
I certainly wouldn’t put any money into it.

It’s not an investment. It’s a gamble, and basically a Ponzi scheme. To make a profit, someone needs to buy in at more than you paid for yours. All well and good when there’s a ton of free money sloshing about (BBL anyone?) but once that money dries up it’s game over. 
 

Housing is similar, but shelter is a necessity and so people will pay through the nose for that. But remove the free money (via substantial increases in the interest rate) and watch the prices tumble. 

[scbk]

On 03/07/2022 at 14:50, Steve Bullman said:

Not for a couple years I reckon 

Keep up Steve, it's a new poster and he digs up an old thread about bitcoin to post a link to a polish crypto website  

[Steve Bullman]

6 minutes ago, scbk said:

Keep up Steve, it's a new poster and he digs up an old thread about bitcoin to post a link to a polish crypto website  

Good spot! It was one of those clever spammers who waits for their post to be approved then edits it to add the spammy link 

 

[Steve Bullman]

Visa don’t seem to feel bitcoins going anywhere just yet 

 

Visa Announces the Launch of Exclusive Bitcoin Credit Card, Bitcoinblack

RIPPLECOINNEWS.COM

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The world’s single largest payment services provider, Visa, announces the launch of Bitcoin card with no limit. Since the advent...

 

[Mick Dempsey]

I would have thought the Visa thing has been in the planning for months if not years.

 

Too late to pull it now.

[doobin]

2 hours ago, Mick Dempsey said:

I would have thought the Visa thing has been in the planning for months if not years.

 

Too late to pull it now.

Visa and PayPal are like Levi’s during the gold rush. They know that thar hill is all worked out, nothing left- but they’ll sell any idiot who wants to dig there a pair of jeans!