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Cryptocurrencies

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Kev The Rat said:
Your idea that Wall Street shorted bitcoin to pick up coins on the cheap is not necessarily born out in fact. Bitcoin has weathered the storm far better than almost all alts.
Click to expand...

I predicted:
  • It would be shorted once the futures exchanged opened and dramatically reduce in value
  • Find a floor at $9k
  • Rally at $9k
Let me know which of these bits were wrong
 
evilwebby said:
The real questions is "why would you want to mine them if they have no intrinsic value?"
Mining, even in the digital realm has costs and wastes resources if there is nothing useful at the end.

I'm not say that bitcoin or blockchain is useless, but equally you have to ask what problem are they really solving? Transactions between parties will happen in the future with or without this technology.
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The more fundamental question to me is, why mine them in the first place? Is this a psychic value that associates your legwork to enter the market with an intrinsic value in the product? Is this "sweat equity?" Whether or not blockchain is a valuable technology, I've never understood the reasoning both behind how BTC are generated and why they're capped to a defined number of coins.
 
orly said:
I predicted:
  • It would be shorted once the futures exchanged opened and dramatically reduce in value
  • Find a floor at $9k
  • Rally at $9k
Let me know which of these bits were wrong
Click to expand...

Let's see if this happens. Many people have like Clark Griswold though themselves to have found a solid floor only to step through into the abyss below (or in his case, a bunk bed.)
 

Kev The Rat said:
The first.

If it was bitcoin specifically being attacked it should have fallen harder than everything else - it hasn’t.
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I don’t think that’s right, whilst bitcoin holds the biggest market share, alts will always fall harder due to the trading pairs.

It’s pretty much only ETH, BTC and LTC that can be traded for FIAT.

Seeing as BTC is the oldest, most people who trade own it, so all of their alt trading pairs are ALT/BTC.

Everytime BTC crashes, alts crash an equal amount. People then sell off their alts to reinvest in BTC so alts fall even further.

Until the BTC market share is over and done with, it will never fall harder than an ALT.
 
xreyuk123 said:
I don’t think that’s right, whilst bitcoin holds the biggest market share, alts will always fall harder due to the trading pairs.

It’s pretty much only ETH, BTC and LTC that can be traded for FIAT.

Seeing as BTC is the oldest, most people who trade own it, so all of their alt trading pairs are ALT/BTC.

Everytime BTC crashes, alts crash an equal amount. People then sell off their alts to reinvest in BTC so alts fall even further.

Until the BTC market share is over and done with, it will never fall harder than an ALT.
Click to expand...

There you go @Kev The Rat - somebody who actually knows what they're talking about.
 
Leaving cryptos aside for a minute, as a value investor I'm going to be buying commodities funds for my pension (already been doing so for the last 2 years). Historically commodities have literally never been this cheap compared to stocks.

Here is ratio of the CRB vs SP500 for the last 60 years:

http://stockcharts.com/h-sc/ui?s=$CRB:$SPX&p=W&st=1957-01-01&id=p62573801128

commodities are 3 times as cheap as they were between 2003-2012, and roughly 35 times as cheap as they were between 1974 - 1984. It won't happen tomorrow or next year, but I believe there will come a time when they will approach these valuations once again.
 

evilwebby said:
Leaving cryptos aside for a minute, as a value investor I'm going to be buying commodities funds for my pension (already been doing so for the last 2 years). Historically commodities have literally never been this cheap compared to stocks.

Here is ratio of the CRB vs SP500 for the last 60 years:

http://stockcharts.com/h-sc/ui?s=$CRB:$SPX&p=W&st=1957-01-01&id=p62573801128

commodities are 3 times as cheap as they were between 2003-2012, and roughly 35 times as cheap as they were between 1974 - 1984. It won't happen tomorrow or next year, but I believe there will come a time when they will approach these valuations once again.
Click to expand...

I am 100% cash atm. Need the value of my pension to be what it is now in 2 years time. Arsed.

(Tons over values anyrate)
 
evilwebby said:
Leaving cryptos aside for a minute, as a value investor I'm going to be buying commodities funds for my pension (already been doing so for the last 2 years). Historically commodities have literally never been this cheap compared to stocks.

Here is ratio of the CRB vs SP500 for the last 60 years:

http://stockcharts.com/h-sc/ui?s=$CRB:$SPX&p=W&st=1957-01-01&id=p62573801128

commodities are 3 times as cheap as they were between 2003-2012, and roughly 35 times as cheap as they were between 1974 - 1984. It won't happen tomorrow or next year, but I believe there will come a time when they will approach these valuations once again.
Click to expand...
digging bits of metal out of the ground? lol.
 

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