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Cryptocurrencies

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xreyuk123 said:
ETH has held up much better than any coin during this BTC crash. I think Bitcoin is at the very end of being all but dead.

ETH has more transactions per day, and is gaining volume and lots of people (me included) have used it for trading instead of BTC for a while.
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I said a long way back in this thread the ETH was the one to go with due to its backers. It won't be allowed to fail..
 
Support broken, and hitting new lows. I'm 90% certain that we've seen the top of this bubble and are heading much, much lower.

It's fallen 60% from peak.. so that means if you bought at 20kUSD you need a 120% return just to get your money back. When it has fallen 90% you're going to need a 1000% return just to get your money back, etc. Rule #1 of making money is don't lose money. Rule #2 of making money is see rule #1.
 

I hope this is the end of Bitcoin determining the price of everything else.

Bitcoin's technology is slow and archaic - other coins offer better potential for "real world" use.

Take note @Kev The Rat. You're still sitting on a load of money, act now before it's too late.
 
Bitcoin, Etherium, Litecoin, Ripple.. I don't care, they are ALL going to go down with the sinking ship.

A couple will emerge from the ashes and then might actually go on and become something useful to people (Amazon), but at this stage who the hell cares... we are seeing the most extreme financial bubble in recorded history going pop. If you think it's wise to be on the long side of that trade then God help you.
 
evilwebby said:
Support broken, and hitting new lows. I'm 90% certain that we've seen the top of this bubble and are heading much, much lower.

It's fallen 60% from peak.. so that means if you bought at 20kUSD you need a 120% return just to get your money back. When it has fallen 90% you're going to need a 1000% return just to get your money back, etc. Rule #1 of making money is don't lose money. Rule #2 of making money is see rule #1.
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imagine buying in at 20k just a couple months back. and then watching as your money evaporates.
 

SerenityNigh said:
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.
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Bit late to reply, but I think an good analogy can be made with the Internet..

Blockchain, as I understand, is the technology behind bitcoin, and it facilitates peer to peer transactions without the need for banks and middlemen. Its completely logical to then create an "app" on top of this - in this case the app is bitcoin, which is presented as a "digital currency". It makes complete sense for the supply to be limited, otherwise over time the value of everyones' holdings would be inflated away by additional currency created, which is what we have seen over the last 40 years with fiat currencies. This is why it is touted as a competitor to gold.

The app proves the technology. But that is like saying that E-mail proves TCP/IP. Bitcoins may be finite, but there is nothing to stop bitcoin competitors springing up all over the place. It is like if Netscape mail had been issued with a finite supply of licences and then sold the licences on the open market.. you can imagine what would eventually happen.
 
BigBlueNose said:
imagine buying in at 20k just a couple months back. and then watching as your money evaporates.
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Well, cards on the table for a sec here..

I have lost my fair share in foolish ventures, such as buying stocks which I thought were underpriced (real companies, not even dotcom stocks), only to see them fall 70-80% overnight when a profit-warning or debt-for-equity swap was announced. It is an awful, awful feeling.

I was young and foolish, and I like to think that I have learnt a lot since then. These days I am far more cautious. Everything has risk and everything has reward - it is up to you to determine what risk/reward you are comfortable with.

There is a saying that... There are old traders, and there are bold traders, but there are no old, bold traders.
 
evilwebby said:
Well, cards on the table for a sec here..

I have lost my fair share in foolish ventures, such as buying stocks which I thought were underpriced (real companies, not even dotcom stocks), only to see them fall 70-80% overnight when a profit-warning or debt-for-equity swap was announced. It is an awful, awful feeling.

I was young and foolish, and I like to think that I have learnt a lot since then. These days I am far more cautious. Everything has risk and everything has reward - it is up to you to determine what risk/reward you are comfortable with.

There is a saying that... There are old traders, and there are bold traders, but there are no old, bold traders.
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didn't mike Ashley make something like 750m overnight in some market gamble?
 

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