orly
Please check with me for Blammo criteria
I'm quite interested in the answer to this as well, as it was thought it would be 2008, 2011, 2013, 2015, and today.
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BIT COIN (S)
- Thread starter bol-uk
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I'm quite interested in the answer to this as well, as it was thought it would be 2008, 2011, 2013, 2015, and today.
I'm more optimistic about blockchain than I am Bitcoin (by a considerable margin), but even then, it lacks all of the structural elements that helped the Internet to become as powerful as it became (governance frameworks etc.) and there seems little sign that any such framework will emerge.
efcjames
Player Valuation: £35m
The price is still going to go back up so it doesn't matter, if you're investing for the long term you're certainly gonna make a profit.
It's not a guarantee at all that it will always recover lost value.
There's absolutely zero logic backing up the idea that it's a guaranteed long term profit when it's value is currently massively inflated because of artificial speculation value.
Remember, past performance is not a guaranteed indicator of future performance.
orly
Please check with me for Blammo criteria
My word.
Let's say $15,000 is the 'ceiling price' and then the bubble bursts, just an example, it writes off 80% of its value really quickly.
I would love to see a serious financial prediction from 2016 that said it was going to go 10x the price this year. If you've got one, please share it so we can read it.
What certainty would you have that it would breach the ceiling price on the next cycle?
A Ponzi scheme actively uses one persons investment to provide another's return. It's not the same a speculation.
Black Monday was a 22% correction and people were killing themselves
Robots and AI are the future
abelard
Player Valuation: £35m
We'll need them defending the gates when the crops fail and the sea-levels rise and the politics break down and the poor get desperate ; )
orly
Please check with me for Blammo criteria
Article from 2015
http://www.thisismoney.co.uk/money/...rming-25-British-fund-managers-ten-years.html
These people will be revered and their performance rewards will be completely ridiculous.
Interesting paragraph from the article:
There's a really, really good reason why these lads don't lash their money in stuff like this.
Buffett seems a smart investor and he wouldn't touch butcoin with Bea Arthur's dick.
Right but it relies on people being speculators to work. They rob from the next speculator to pay the last one before him.
efcjames
Player Valuation: £35m
You could see it was going to keep rising throughout 2017 since June. The value had been increasing every month, despite the inevitable crashes. There's always going to be a risk involved when investing in cryptocurrencies and if you're worried about it crashing and not getting your money back then there's no point in investing, because you'll cash in on the BTC before the price rises again.
orly
Please check with me for Blammo criteria
?
I'd say anyone who invests in something and doesn't have even the slightest concern about not getting their money back is a total anomaly. Literally no serious investor would think that.
Again, this is missing the point though.
To use Kev's example, he could sell 10% of his current hold to recover his entire initial stake. Money back and currently sitting on a huge profit. If you use my earlier example of a totally hypothetical 80% markdown, Kev would still be in profit (albeit it would feel like a kick in the guts). For the vast majority of recent (last three months) investors, that 80% markdown would be catastrophic with absolutely zero guarantee that a (very) long term hold would seem them back to solid ground.
bobbydigital
Player Valuation: £1.5m
“It essentially offers a decentralized ledger of all transactions across a network: When a transaction occurs, everyone on the network knows about it. It’s tamper-proof and virtually instantaneous. This has real disruptive implications for the financial industry, which today uses other processes to keep records for asset transfers and more.”
I just ripped that from here
https://www.pwc.com/us/en/financial-services/research-institute/blockchain.html
But the ability to follow all details of a product through from the earliest part of the supply chain right through to sale will be very helpful for numerous reasons.
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