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Cryptocurrencies

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BigBlueNose said:
You always seem to have insightful posts on these matters are you a financiar??
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I'm just an interested observer. Markets never change because humans never change.

"There is nothing new [in Wall Street]. There can't be because speculation is as old as the hills. Whatever happens [in the stock market] today has happened before and will happen again. "

This quote is from "Reminisences Of a Stock Operator" by Jesse Livermore, the greatest trader of the day, written back in 1923. It explains cryptos, dotcom, plastics, oil, tulips, and every other bubble there has ever been. It is as relevant today as it was then and has ever been. It's a classic read, and freely available online.
 
Efcjake said:
Update.

kev is now down 82k from when he bought back in at 4.9k.
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@Kev The Rat can you send us a sign to let us know that you`re okay mate ?

I know it`s been a tough few months for you, first Allardyce gets webbed, then your Bitcoin empire collapses and now the Allardyce nemesis, the dastardly Silva has put the final nail in the coffin, by getting the team playing sexy football again.
 

Catfish Blues said:
0*XSN8x3NxmYvfP7-R.gif
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So, how's this going, and did the lad who said he was going to pay his mortgage off with the proceeds of his "investment" end up looking stupid ?
 
This has been a complete hoot to watch people lose their shirts over the last year.

Just looking at a random selection of some of the altcoins I picked out completely at random..

Ethereum is down 93.4% from peak
Litecoin is down 91.7% from peak
Dash is down 94.9% from peak
Ontology is down 92.3% from peak


So.. if you had bought at the peak you would need a 1300-1400% return from here just to get your money back. Haha.

And I doubt its over - no reason why they can't fall another > 90% from where they currently are, as they have absolutely zero intrinsic value.
 
evilwebby said:
This has been a complete hoot to watch people lose their shirts over the last year.

Just looking at a random selection of some of the altcoins I picked out completely at random..

Ethereum is down 93.4% from peak
Litecoin is down 91.7% from peak
Dash is down 94.9% from peak
Ontology is down 92.3% from peak


So.. if you had bought at the peak you would need a 1300-1400% return from here just to get your money back. Haha.

And I doubt its over - no reason why they can't fall another > 90% from where they currently are, as they have absolutely zero intrinsic value.
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Defo a good time to buy in
 
BigBlueNose said:
Defo a good time to buy in
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Might be a modicom of truth in that. I personally think its still a bit too soon, but any market that has fallen 90% needs to be looked at for bounce potential as much as for further downside potential.

BUT the smart and low-risk way is not to go all-guns blazing trying to pick the bottom of the market (like this idiot), but to commit a small percentage of your funds each month, and cost-average your buying over the next year. You might still lose most of it as the market continues sliding, but you will get a fair average price for the whole period and will be able to sleep soundly at night.
 
evilwebby said:
Might be a modicom of truth in that. I personally think its still a bit too soon, but any market that has fallen 90% needs to be looked at for bounce potential as much as for further downside potential.

BUT the smart and low-risk way is not to go all-guns blazing trying to pick the bottom of the market, but to commit a small percentage of your funds each month, and cost-average your buying over the next year. You might still lose most of it as the market continues sliding, but you will get a fair average price for the whole period and will be able to sleep soundly at night.
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Very few stocks/markets/bubbles can bounce after a 90% fall, because the values they fell from were unrealistic in the first place. Bubbles burst. (Dot Com, Dutch Tulips, Bitcoin(?)). Stocks that fall 90% are usually terminal, (Woolies, Northern Rock etc etc), and whole markets will indicate economic mismanagement of epic proportions.

Pound cost averaging might work ok with a single market, but a single stock or commodity/bubble, very unlikely.
 

roydo said:
Very few stocks/markets/bubbles can bounce after a 90% fall, because the values they fell from were unrealistic in the first place. Bubbles burst. (Dot Com, Dutch Tulips, Bitcoin(?)). Stocks that fall 90% are usually terminal, (Woolies, Northern Rock etc etc), and whole markets will indicate economic mismanagement of epic proportions.

Pound cost averaging might work ok with a single market, but a single stock or commodity/bubble, very unlikely.
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They were manipulated before to make rich people rich. Nothing stopping that happening again. If it does though I guess it will take a few years to let the people at the bottom get over it.

Buy in low over the next few years and you may be able to ride the wave. Just got to get out at the right time!
 
The binman chronicles said:
They were manipulated before to make rich people rich. Nothing stopping that happening again. If it does though I guess it will take a few years to let the people at the bottom get over it.

Buy in low over the next few years and you may be able to ride the wave. Just got to get out at the right time!
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Maybe. My guess is whoever dreamt up cryptos will just dream something else up.
 
roydo said:
Very few stocks/markets/bubbles can bounce after a 90% fall, because the values they fell from were unrealistic in the first place. Bubbles burst. (Dot Com, Dutch Tulips, Bitcoin(?)). Stocks that fall 90% are usually terminal, (Woolies, Northern Rock etc etc), and whole markets will indicate economic mismanagement of epic proportions.

Pound cost averaging might work ok with a single market, but a single stock or commodity/bubble, very unlikely.
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Spoken like a true parcel delivery fella!!!!
 
MarcelsGoat said:
Fell out with 1 of my online mates a few months ago over these bitcoins, he claimed they were gonna change the world, I called him a moron.

Im just sorry we no longer speak, would love to laugh long and hard at him.
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'online friend!

Oh I laughed!


How is Chico these days?!
 

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