Crypto Currency Thread
Discussion
Buying on the major dips is extremely difficult to do. The market at that point will be full of FUD and it'd take nerves of steel + deep faith in BTC. In addition, you have to move fiat to your exchange, which takes a few days. Nope. If you are going to buy then I would pound cost average at the smaller weekly / fortnightly dips.
The Spruce goose said:
i personally would give it a few weeks but it is up to you.
These were the major dips in the past quarter: May 27, Jun 15, Jun 26, Jul 16, Jul 26. I am almost certain you would not have invested in BTC on these dates. In fact you were probably on here spreading FUD about some perceived BTC weakness or other I'm interested in these Crypo currencies, but to date have held off investing.
Where do people see prices for Bitcoin & Ethereum heading say over the next 5 years ? I appreciate it's guesswork, but suspect there are people who know far more about these than myself, and any investment by myself would be purely speculative over such a timescale.
Where do people see prices for Bitcoin & Ethereum heading say over the next 5 years ? I appreciate it's guesswork, but suspect there are people who know far more about these than myself, and any investment by myself would be purely speculative over such a timescale.
Hobo said:
I'm interested in these Crypo currencies, but to date have held off investing.
Where do people see prices for Bitcoin & Ethereum heading say over the next 5 years ? I appreciate it's guesswork, but suspect there are people who know far more about these than myself, and any investment by myself would be purely speculative over such a timescale.
I've done a ton of reading, only getting back into it all myself in the summer.Where do people see prices for Bitcoin & Ethereum heading say over the next 5 years ? I appreciate it's guesswork, but suspect there are people who know far more about these than myself, and any investment by myself would be purely speculative over such a timescale.
My opinion is that BTC could become a store of value... like gold. It's easier to trade and store and suits the modern generation well. Uptake in the far east is increasing and BTC will be an official currency in the Japanese Olympics in 2020, bringing it further into the mainstream. I've seen opinions ranging from $0 because something else will take over, to $100,000 by 2020.
I'm on the fence whether BTC will be used for everyday transactions - personally I doubt it, but think something else will... blockchain technology behind something which resembles £/$ etc.
ETH is less clear to me. It is more a technology than a (potential) store of value. Masses of new 'currencies' are based off ETH, and many ICOs garner masses of ETH tokens which the developers often quickly dump back into the market (to pay for whatever they've raised cash for). ETH doesnt have a limited final supply (yet), which BTC has.
This may be rubbish... there is a lot of info out there - loads of it obvious rubbish, which I've tried to filter as much as I can. Invest what you can afford to lose - I've cashed out of a poorly performing ISA, with the logic that I'd forgo that cash for a shot at being involved in something far bigger... if I lose the lot I won't be destitute.
Behemoth said:
These were the major dips in the past quarter: May 27, Jun 15, Jun 26, Jul 16, Jul 26. I am almost certain you would not have invested in BTC on these dates. In fact you were probably on here spreading FUD about some perceived BTC weakness or other
i have admitted i got it wrong, ive still made a bit but would have made more on btc. But i am in for the long haul.Maxf said:
many ICOs garner masses of ETH tokens which the developers often quickly dump back into the market (to pay for whatever they've raised cash for).
The cash is used for paying developers to code out the dreamy concepts the ICO white papers detail. Salaries are by far the biggest cost. So your ICO money is basically paying a dev team to code away without a care in the world. As soon as the money runs out, the devs will leave the pizza boxes behind and drive their Lambos (still just about in warranty) to the next gig
The whole thing reminds me of cash burn rates circa the dotcom bubble. Normal business management methods were thrown out of the window because it was a "new paradigm".Behemoth said:
Maxf said:
many ICOs garner masses of ETH tokens which the developers often quickly dump back into the market (to pay for whatever they've raised cash for).
The cash is used for paying developers to code out the dreamy concepts the ICO white papers detail. Salaries are by far the biggest cost. So your ICO money is basically paying a dev team to code away without a care in the world. As soon as the money runs out, the devs will leave the pizza boxes behind and drive their Lambos (still just about in warranty) to the next gig
The whole thing reminds me of cash burn rates circa the dotcom bubble. Normal business management methods were thrown out of the window because it was a "new paradigm".I was looking at it more from the point of ETH, which is what a lot of the ICOs are bought with... so ETH can be dumped on massive scales to pay for the pizzas and lambos.
ICOs are raising hundreds of millions - mostly based on a hope of them being the new ETH or BTC rather than any real research... it's amazing really, but doesn't add any sort of stability or seriousness to the whole cryptocurrency thing.
Hobo said:
Where do people see prices for Bitcoin & Ethereum heading say over the next 5 years
I'm a bull for BTC, a bear for ETH. BTC is the progenitor crypto and has by far the greatest momentum. It's also secure, dependable and has shown resilience time and again. It has potential for much innovation in the next few years with Segmented Witness and Lightning Network.
Ether shouldn't exist in 5 years as a tradeable currency. It will probably exist as a technology but the value for that accrues to Ethereum code developers and their client base, not Ether. I say shouldn't because the market might ignore me and continue its irrational investment in this token.
Behemoth said:
It's also secure
not according to Forbes magazine....https://www.forbes.com/sites/adamhartung/2017/08/1...
x5x3 said:
Behemoth said:
It's also secure
not according to Forbes magazine....https://www.forbes.com/sites/adamhartung/2017/08/1...
x5x3 said:
There are many other Forbes authors that advocate Bitcoin. You've chosen one that doesn't. The clue is here Opinions expressed by Forbes Contributors are their own.
Maxf said:
The lack of security (hacking the blockchain) seems like a throwaway statement to prove a point. Large 'fake' buy and sell orders are potentially a problem though, so I'll grant them that - some of the exchanges seem rather questionable, but they are improving as bigger players become involved.
Yes, it's tripe really. I think the author has a very superficial understanding of cryptocurrency. The telltale is mention of tulip bulbs. I could create Behemoth Pound tomorrow using the same animal plastic as the fiver. Would issuing a trillion of it affect the pound? Onto exchanges: they are not Bitcoin, as much as NatWest isn't Sterling. Lack of security on an exchange does not equate to lack of Bitcoin security. Maxf said:
Absolutely, but if exchanges can be manipulated then the security of the 'value' of BTC comes into question.
Price manipulation exists in almost all financial markets to a greater or lesser degree. Bitcoin exchanges were very heavily manipulated from the Mt Gox days through to the Chinese exchange washes. These days, Bitcoin market makers are using their own wealth to attempt pumping & dumping, mopping up of shorts and other tactics very familiar to traditional financial markets. That's a very big difference and a big evolution in infrastructure stability.Behemoth said:
x5x3 said:
There are many other Forbes authors that advocate Bitcoin. You've chosen one that doesn't. The clue is here Opinions expressed by Forbes Contributors are their own.
All magazines carry that get out clause these days.
Suppose the next easy question, as someone wishing to have a bit of a punt on some Bitcoin's is what is the best platform for trading these.
I've set up an account with Coinbase, but then having seen the reviews I'm unsure on whether I wish to use this as people are complaining of monies disappearing from their account and struggling to get monies back out when then wished to.
Would appreciate any responses.
I've set up an account with Coinbase, but then having seen the reviews I'm unsure on whether I wish to use this as people are complaining of monies disappearing from their account and struggling to get monies back out when then wished to.
Would appreciate any responses.
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