Crypto Currency Thread
Discussion
yajeed said:
stongle said:
There is also the annual profit taking by Asian investors probably playing a part. It happens every year. Mix in some FUD this event probably should have been foreseen. Still if you want the 2-300% gains you gotta ride out the 30% drops I suppose.
Or they're reading the news/threats about Korea and China outlawing trading in crypto?The same thing happens in normal bond or finance markets where bank balance sheet trades at a premium over Year End. Repo rates can jump several thousand %; given scarcity of finance available between banks.
Unlike Crypto this is an annualized financing rate (so not price forming) - but is a seasonal quirk nonetheless (same for Dividend season for equities etc).
The pronounced falls here are very steep and severe; and people are getting burnt, I've taken a large MtM hit today; but I'm not into my starting stake just yet. For time and effort its a loss. There is a lot of talk of price support for BTC kicking in. Be interesting if they are correct.
I've just looked on localbitcoins and there are over 250 offers to buy. I'm sure some are very low but the ones I looked at seemed reasonable and also for people with a lot of trades.
So these are people who think it will rise again and are prepared to put their money in rather than speculate on a forum.
So these are people who think it will rise again and are prepared to put their money in rather than speculate on a forum.
x5x3 said:
I've just looked on localbitcoins and there are over 250 offers to buy. I'm sure some are very low but the ones I looked at seemed reasonable and also for people with a lot of trades.
So these are people who think it will rise again and are prepared to put their money in rather than speculate on a forum.
Absolutely, I sold mine when BTC was £12000 two weeks ago and the guy had thousands of trades. Do they make money or is it just a way of laundering money.So these are people who think it will rise again and are prepared to put their money in rather than speculate on a forum.
Joey Deacon said:
This is what I don't understand, when it nearly hit £15k in December everyone was talking about it. Even my girlfriend who has no interest in this was telling me people in her office were talking about it.
It's the same as anything else - people want to talk about their huge profits but are embarrassed when they make losses. Just like gamblers only talk about their wins.NickCQ said:
Joey Deacon said:
This is what I don't understand, when it nearly hit £15k in December everyone was talking about it. Even my girlfriend who has no interest in this was telling me people in her office were talking about it.
It's the same as anything else - people want to talk about their huge profits but are embarrassed when they make losses. Just like gamblers only talk about their wins.I put £1500 into it in early December. I traded some altocoins, cashed out & bought back in again at various points. Last week I was sitting on around £9k in value, I haven't checked today as I'm at work and can't get on the exchanges, but at a guess I'd say I'm sat at around £4k, maybe slightly less, so although up, taken a beating.
But remember folks, you haven't lost or gained anything until you've cashed out
But remember folks, you haven't lost or gained anything until you've cashed out
Behemoth said:
There's a (very) big difference between a Ponzi scheme and naive newcomers being parted from their money. Bitconnect: that's a pure Ponzi if I ever saw one.
I wouldn't be surprised if the same idiots who lost on Bitconnect will now go and buy Bitconnect X.I'm also quite sceptical about whether some of these cloud mining contracts are a real thing or just a variation of a ponzi.
Gassing Station | Finance | Top of Page | What's New | My Stuff