Crypto Currency Thread (Vol.2)
Discussion
Scootersp said:
Bitcoin will it half from here or double from here in the next year or so, who knows, but without attracting more players it can't go up can it? certainly not to the wild predictions of some?
Nobody knows as it's not like a company that has made a shedload of profit and its share price goes up.It's based on folks wasting electricity and money on graphics cards to mine a bunch of numbers and sticking a finger in the air.
Scootersp said:
Ok but Squid coin then.........after all this was I think just an example of what can happen.
It becomes hard to tell the wheat from the chaff, why does the 'space' dump at the same time, why not a transfer from the dubious/speculative coins to the more established Bitcoin and Ether? I will say again no one anti Bitcoin can be to blame for the recent drop? So there has to be some concern on the price level, so those that have never bought will see no incentive to join right now and those in might continue to bail to a degree?
Tether, it's name suggesting it and it's promise to be linked to the dollar but now there are doubts.
Bitcoin will it half from here or double from here in the next year or so, who knows, but without attracting more players it can't go up can it? certainly not to the wild predictions of some?
and fraud doesn't happen within Fiat then? a fool with their money is easily parted springs to mind, some people just do not have intelligence to work out if they are being finessed or not, who remembers the Nigerian princes emails claiming he had $50,000,000 in a bank and needed a safe place to put it as his country is worn torn... It becomes hard to tell the wheat from the chaff, why does the 'space' dump at the same time, why not a transfer from the dubious/speculative coins to the more established Bitcoin and Ether? I will say again no one anti Bitcoin can be to blame for the recent drop? So there has to be some concern on the price level, so those that have never bought will see no incentive to join right now and those in might continue to bail to a degree?
Tether, it's name suggesting it and it's promise to be linked to the dollar but now there are doubts.
Bitcoin will it half from here or double from here in the next year or so, who knows, but without attracting more players it can't go up can it? certainly not to the wild predictions of some?
Bitcoin will continue to go up long term as people see it as one of the safest places to invest into the crypto space, Ethereum as well will climb over time due to its functionality. the nice thing about Crypto is that when a bear market rolls around it shakes the tree and the weaker cryptos fall away.
the only reason i would enjoy seeing Bitcoin go to £1mill a coin is too see the meltdown it would cause in here.
Condi said:
If the experts cannot agree amongst themselves how is anyone from outside going to learn. I've been asking for about 5 years what the use of Bitcoin et al is, and still nobody can answer the question in a sensible way which stands up to basic scrutiny! The best answer, and most honest answer, is from people who are just in it for the exposure and to make a buck. Anyone who tries to justify their interest with fundamental reasons can be quickly tied in knots with simple challenges.
It's an emerging technology - with 1000's of different facets. Everyone has different levels of understanding of the technology aspects, finance and trading. Competence of those and experience will create some level of expertise. Being an emerging tech, it's very easy for someone to attempt to appear smarter than they are - that's the same in any sphere - especially when large amounts of money are involved hubris is everywhere. I don't have a finance background other than a few years of consulting - that doesn't stop me from being able to trade and turn a profit (so far) - ultimately in my view, trading exposes your technical analysis and in cyclical points in the market your approach to risk management. My view is, your not likely to be able to understand it all - simply pick a sector and learn to navigate that in the best way possible.
If you've been an investor in stocks over the last decade, where price only goes up then of course it looks extremely risky - I would say quite simply that stock trading profits are simply due to a trending market rather than any level of individual skill in that case - price can go down as well as up etc etc.
WY86 said:
and fraud doesn't happen within Fiat then? a fool with their money is easily parted springs to mind, some people just do not have intelligence to work out if they are being finessed or not, who remembers the Nigerian princes emails claiming he had $50,000,000 in a bank and needed a safe place to put it as his country is worn torn...
Bitcoin will continue to go up long term as people see it as one of the safest places to invest into the crypto space, Ethereum as well will climb over time due to its functionality. the nice thing about Crypto is that when a bear market rolls around it shakes the tree and the weaker cryptos fall away.
the only reason i would enjoy seeing Bitcoin go to 1mill a coin is too see the meltdown it would cause in here.
Fraud happens wherever humans are............and fraud often works well because of human greed.Bitcoin will continue to go up long term as people see it as one of the safest places to invest into the crypto space, Ethereum as well will climb over time due to its functionality. the nice thing about Crypto is that when a bear market rolls around it shakes the tree and the weaker cryptos fall away.
the only reason i would enjoy seeing Bitcoin go to 1mill a coin is too see the meltdown it would cause in here.
Fiat is far from perfect but we all crave more of it, would a current 1 Bitcoin owner, want one Bitcoin worth 100K or to have 10 Bitcoin still worth 20K in 2025?
Most of these weaker crypto's you mention should arguably not be necessary, and also arguably harm the 'space' (all the negative stories around these scam coins have to suppress new take up?). Why did the person buying Doge etc not just buy Bitcoin/Ether, it has to be the chance of more multiples, the Elon factor, youtuber hype, I'm not sure?
It's an interesting mix of new tech, distrust of Fiat and the powers behind it all, perhaps a general disillusionment, with human fear, greed, opportunism, protectionism mixed in?
digger_R said:
Condi said:
If the experts cannot agree amongst themselves how is anyone from outside going to learn. I've been asking for about 5 years what the use of Bitcoin et al is, and still nobody can answer the question in a sensible way which stands up to basic scrutiny! The best answer, and most honest answer, is from people who are just in it for the exposure and to make a buck. Anyone who tries to justify their interest with fundamental reasons can be quickly tied in knots with simple challenges.
It's an emerging technology - with 1000's of different facets. Everyone has different levels of understanding of the technology aspects, finance and trading. Competence of those and experience will create some level of expertise. Being an emerging tech, it's very easy for someone to attempt to appear smarter than they are - that's the same in any sphere - especially when large amounts of money are involved hubris is everywhere. WY86 said:
Bitcoin will continue to go up long term as people see it as one of the safest places to invest into the crypto space, Ethereum as well will climb over time due to its functionality. the nice thing about Crypto is that when a bear market rolls around it shakes the tree and the weaker cryptos fall away.
the only reason i would enjoy seeing Bitcoin go to 1mill a coin is too see the meltdown it would cause in here.
WY86 said:
So many bitter people that are clearly annoyed that even in a bear market bitcoins value is still 50x compared to their share prices.
I'm still waiting to hear how 'bitcoins value is still 50x compared to their share prices', by the way... 
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
moonigan said:
Seventyseven7 said:
One issue Bitcoin has for it, is people say how awful it is, without taking a moment to even try and understand what it is or how it works.
One issue 'Crypto' has, is people will post/repost/retweet information that isn't correct without even checking it themselves. There isn't many industries where hundreds/thousands of people will repost inaccurate information like this and not get pulled up on it. But it happens in crypto all the time.
For reference, there has never been a token called MonkeyPoxInu that had 1 Million (Let alone 400 million) in liquidity ever.
Do you fact-check every single thing you read? I scrolled through that twitter post yesterday evening and didn't read anything that suggested it was untrue. One issue 'Crypto' has, is people will post/repost/retweet information that isn't correct without even checking it themselves. There isn't many industries where hundreds/thousands of people will repost inaccurate information like this and not get pulled up on it. But it happens in crypto all the time.
For reference, there has never been a token called MonkeyPoxInu that had 1 Million (Let alone 400 million) in liquidity ever.
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
Go back half a dozen pages. The discussion was already had with RichTT where I said the same thing. Apparently people are buying BTC for its use case and store of value 
. They don't care about the price going up or down 
. Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
Yup, sums me up.People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
I'm doing really well, though... only lost half of my investment thus far. FML.
WY86 said:
Ari said:
I'm still waiting to hear how 'bitcoins value is still 50x compared to their share prices', by the way...
So for 1 bitcoin its currently 23kish to buy, what company has a single share worth close to that ?You might want to have a look at Berkshire Hathaway. One share is going for just under $462k.
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
Jesus well done Ari, people are INVESTING in the hopes to make money!!! And part of the due diligence people are looking beyond the hype and actually looking at fundamentals to decide which projects to invest in… well People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
I am shocked!
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
You've just described every investor. Not just Bitcoin investors. People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
For someone who claims to be an expert in shares and financial matters you should know that the price of share is entirely irrelevant to anything at all.
You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
Condi said:
For someone who claims to be an expert in shares and financial matters you should know that the price of share is entirely irrelevant to anything at all.
You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
Why don’t you just add a little crypto to your portfolio… go on Condi dance with the devil… get in while its cheap… i know its tempting you…You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
Condi said:
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
It's one of those statements that works for non-critical thinkers but is actually nonsensical.We are supposed to believe that because $23K is a bigger number than $460 it is therefore better and clearly has better fundamentals!
To use an older example, which is heavier, a pound of lead or a pound of feathers?
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