Crypto Currency Thread
Discussion
limpsfield said:
I was around in the dot com bubble and met many who had made a return tenfold their initial investment if not more - but few managed to hold onto any significant chunk of those gains. When the tech market turned lower they bought all the way down.
I trade this via cfds and am still in. I could not give a monkeys about block chain or any of that- it’s just a price. It might go up another tenfold. On the other hand, maybe we have already seen the top. Either way this is a great case of speculative mania and fascinating to watch.
The dotcom bubble sank a thousand and one useless companies but the handful that remained went from strength to strength. If you don't understand or care about the underlying technology and economics then surely you're missing important tradeable information. Knowledge of why amazon.com & ebay.com were good ideas and pets.com & boo.com weren't became quite handy circa 2000.I trade this via cfds and am still in. I could not give a monkeys about block chain or any of that- it’s just a price. It might go up another tenfold. On the other hand, maybe we have already seen the top. Either way this is a great case of speculative mania and fascinating to watch.
limpsfield said:
They have no strategy for taking profits.
I think this is the key point. This is not like trading a normal currency pair where the price is dictated by interest rates, economics and flows.
Bitcoin is trading totally on flows. There are no fundamentals to base a strategy on - it's like having a winning streak on a fruit machine...
I wish anyone who is trading this the best of luck - mind the gaps!
Andy 308GTB said:
This is not like trading a normal currency pair where the price is dictated by interest rates, economics and flows.
Bitcoin is trading totally on flows. There are no fundamentals to base a strategy on - it's like having a winning streak on a fruit machine..
There is plenty of fundamental information and signalling. Little of it is in the normal geopolitcal space, it's usually technical or regulatory stuff. The "winning streak" is price discovery at work. Yes, it is volatile but that doesn't mean it's an almighty bubble. For years now, it has had many repeated runups. Each one hitting a new all time high. What other asset has exhibited this behaviour? There are real fundamentals driving the underlying asset value.Bitcoin is trading totally on flows. There are no fundamentals to base a strategy on - it's like having a winning streak on a fruit machine..
Behemoth said:
The dotcom bubble sank a thousand and one useless companies but the handful that remained went from strength to strength. If you don't understand or care about the underlying technology and economics then surely you're missing important tradeable information. Knowledge of why amazon.com & ebay.com were good ideas and pets.com & boo.com weren't became quite handy circa 2000.
Ok. Let's say you were a buyer of Amazon near the top of the bubble which of course you would not have known. But you love their tech and their hashtag disruptiveness. So you are in at $85.
Two years later they are sub $10. Thats like a bitcoin buyer getting in now at $11,000 and holding till around $1500. I think they may have cut their losses and sold on the way down at some point.
And amazon and ebay are two great longer term performers - but from an ocean of pure s
te back in those days! What are the chances that an investor picks those two, and then still holds 20ish years later?I don't have any answers - but back then feels like now.
NB - I still hold Bitcoin!
limpsfield said:
Behemoth said:
The dotcom bubble sank a thousand and one useless companies but the handful that remained went from strength to strength. If you don't understand or care about the underlying technology and economics then surely you're missing important tradeable information. Knowledge of why amazon.com & ebay.com were good ideas and pets.com & boo.com weren't became quite handy circa 2000.
Ok. Let's say you were a buyer of Amazon near the top of the bubble which of course you would not have known. But you love their tech and their hashtag disruptiveness. So you are in at $85.Two years later they are sub $10. Thats like a bitcoin buyer getting in now at $11,000 and holding till around $1500. I think they may have cut their losses and sold on the way down at some point.
And amazon and ebay are two great longer term performers - but from an ocean of pure s
te back in those days! What are the chances that an investor picks those two, and then still holds 20ish years later?I don't have any answers - but back then feels like now.
NB - I still hold Bitcoin!
I remember even when amazon was 700USD people said it was a bubble and wasn;t worth that much etc and its now 1150 USD +
XMT said:
I think thats the part that keeps nagging me. Stupidly in SEPT I was meant to buy crypto but with a busy life I didn't now its almost doubled.
I remember even when amazon was 700USD people said it was a bubble and wasn;t worth that much etc and its now 1150 USD +
I too make cart loads when trading in hindsight 😊I remember even when amazon was 700USD people said it was a bubble and wasn;t worth that much etc and its now 1150 USD +
guindilias said:
I think there will be another huge jump, fuelled by people who would never have thought of using BTC "Because it's for computer nerds", now thinking "I'm not missing the next day like that!".
I honestly think this is what will happen. As a speculator I can see the media driving people to invest. Growing the bubble. I don't have slot of spare cash and considered today to drop 2k on bitcoin just to ride it for a few days while the media draw more and more users into this rave of cryptocoins
I have £100 on bitcoin and £100 on ETH at the moment. Just to play with.
XMT said:
I think thats the part that keeps nagging me. Stupidly in SEPT I was meant to buy crypto but with a busy life I didn't now its almost doubled.
I remember even when amazon was 700USD people said it was a bubble and wasn;t worth that much etc and its now 1150 USD +
Hindsight...I remember even when amazon was 700USD people said it was a bubble and wasn;t worth that much etc and its now 1150 USD +
I'm exactly one of those looking to invest because there's a chance to make money quickly. Bitcoin won't be used to buy anything at present as the price is too volatile. I've signed up to Coinbase but not yet made a purchase and I tried to sign to Kraken 2 days ago to buy monero via BTC but the validation is down. I meant to do all this 2 months ago. I could have found my moon by now and had a healthy profit. Instead I've seen mates make thousands with nothing but luck and big balls.
Chicken Chaser said:
I'm exactly one of those looking to invest because there's a chance to make money quickly. Bitcoin won't be used to buy anything at present as the price is too volatile. I've signed up to Coinbase but not yet made a purchase and I tried to sign to Kraken 2 days ago to buy monero via BTC but the validation is down. I meant to do all this 2 months ago. I could have found my moon by now and had a healthy profit. Instead I've seen mates make thousands with nothing but luck and big balls.
You should buy tomorrow. It’s going to $1 million. 
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