Crypto Currency Thread
Discussion
Behemoth said:
DonkeyApple said:
The post crypto f
kwit harvesting will yield bumper returns for all those who make their living getting fkwits to give them money.
Already has done. Many of the fleecers have already well and truly fleeced.kwit harvesting will yield bumper returns for all those who make their living getting fkwits to give them money. DonkeyApple said:
Someone was telling me over the weekend that all the cryptards are being steered into cannabis stocks as a means for getting all their money back and those stocks are now going mental?
Maybe they think it's better than smoking hopium. I know little about it, except that whilst the trade is regulated and perfectly legal in some US states, the segment finds it extremely difficult to establish stable banking relationships. Most entities run scared regardless because of perceived high regulatory overheads.Behemoth said:
DonkeyApple said:
Someone was telling me over the weekend that all the cryptards are being steered into cannabis stocks as a means for getting all their money back and those stocks are now going mental?
Maybe they think it's better than smoking hopium. I know little about it, except that whilst the trade is regulated and perfectly legal in some US states, the segment finds it extremely difficult to establish stable banking relationships. Most entities run scared regardless because of perceived high regulatory overheads.If it’s hapoening out of Canada then even better. They have decades of experience in packaging up worthless and fraudulent businesses and listing them at penny prices to ramp up to goldtards.
Thesprucegoose said:
btc down 14% in 7 days
erh nearly 40%
It really isn't stopping no recvery, i just can't see how it can recover as too many people have been/being burnt.
As I have said many times, Crypto (and blockchain for that matter) is a solution looking for a problem. It is just a speculative gamble and so far it is of no actual use to anyone.erh nearly 40%
It really isn't stopping no recvery, i just can't see how it can recover as too many people have been/being burnt.
It is becoming clear that all of the coins which were nothing more than a white paper are never going to amount to anything and hence people are pulling out their money.
It's all smoke and mirrors and FOMO (before December 2017 anyway) early adopters made millions and everyone else wanted to make free money so bought in pushing up the price.
Joey Deacon said:
Thesprucegoose said:
btc down 14% in 7 days
erh nearly 40%
It really isn't stopping no recvery, i just can't see how it can recover as too many people have been/being burnt.
As I have said many times, Crypto (and blockchain for that matter) is a solution looking for a problem. It is just a speculative gamble and so far it is of no actual use to anyone.erh nearly 40%
It really isn't stopping no recvery, i just can't see how it can recover as too many people have been/being burnt.
It is becoming clear that all of the coins which were nothing more than a white paper are never going to amount to anything and hence people are pulling out their money.
It's all smoke and mirrors and FOMO (before December 2017 anyway) early adopters made millions and everyone else wanted to make free money so bought in pushing up the price.
I think Cryptos are going to be the net dot com bubble, possibly the biggest bubble we've ever seen. I think a lot more people will invest because they are so difficult to value (even if that is because they're not really worth anything) unlike like stocks where you can look at p/e ratios etc to value them. The main advantage people will see will be the avoidance of capital gains taxes in most countries. E.g your Bitcoin Cash is now worth enough to buy to buy a Bentley you could go to the dealership and pay for the car with Crypto currency whereas if you sold the Crypto currency for cash then you would be liable for capital gains tax.
Another factor is that this is a global bubble, I presume there weren't many people from China, Japan etc buying into the dot com shares compared to the number who will invest in Crypto currency. I think the selloff we are seeing now is fully justified with the huge gains in the last 12 months but they will bottom out and start rising again within the next six months.
Obviously there is a risk that these coins will become worthless so only gamble what you can afford to lose but I personally think having a small amount of your investment portfolio invested in Crypto currency could be worth the gamble at the current levels. I have invested a small amount myself purely as gamble but to put the amount into perspective I've placed bigger bets on football matches or the roulette table. Unfortunately if we get to the mania phase of the bubble then we will have not so sensible people putting their life savings in and these will be the people that get badly burnt.
Another factor is that this is a global bubble, I presume there weren't many people from China, Japan etc buying into the dot com shares compared to the number who will invest in Crypto currency. I think the selloff we are seeing now is fully justified with the huge gains in the last 12 months but they will bottom out and start rising again within the next six months.
Obviously there is a risk that these coins will become worthless so only gamble what you can afford to lose but I personally think having a small amount of your investment portfolio invested in Crypto currency could be worth the gamble at the current levels. I have invested a small amount myself purely as gamble but to put the amount into perspective I've placed bigger bets on football matches or the roulette table. Unfortunately if we get to the mania phase of the bubble then we will have not so sensible people putting their life savings in and these will be the people that get badly burnt.
dimots said:
Re: Cannabis stocks - It’s driven by the potential of the CBD market.
Bitcoin is smoke and mirrors Jesus Christ I despair.
It really has no relevance at all. If dumb money is flowing in then that is what will be driving it and it will end up with the exact same set of charts as all penny stocks, crypto coins and fidget spinner sales. Bitcoin is smoke and mirrors Jesus Christ I despair.
CSLM3CSL said:
I think Cryptos are going to be the net dot com bubble, possibly the biggest bubble we've ever seen. I think a lot more people will invest because they are so difficult to value (even if that is because they're not really worth anything) unlike like stocks where you can look at p/e ratios etc to value them. The main advantage people will see will be the avoidance of capital gains taxes in most countries. E.g your Bitcoin Cash is now worth enough to buy to buy a Bentley you could go to the dealership and pay for the car with Crypto currency whereas if you sold the Crypto currency for cash then you would be liable for capital gains tax.
Another factor is that this is a global bubble, I presume there weren't many people from China, Japan etc buying into the dot com shares compared to the number who will invest in Crypto currency. I think the selloff we are seeing now is fully justified with the huge gains in the last 12 months but they will bottom out and start rising again within the next six months.
Obviously there is a risk that these coins will become worthless so only gamble what you can afford to lose but I personally think having a small amount of your investment portfolio invested in Crypto currency could be worth the gamble at the current levels. I have invested a small amount myself purely as gamble but to put the amount into perspective I've placed bigger bets on football matches or the roulette table. Unfortunately if we get to the mania phase of the bubble then we will have not so sensible people putting their life savings in and these will be the people that get badly burnt.
I think this was one of the most sensible and prescient posts from 2016 on the whole crypto saga. I hope the poster bailed with some nice profits. Another factor is that this is a global bubble, I presume there weren't many people from China, Japan etc buying into the dot com shares compared to the number who will invest in Crypto currency. I think the selloff we are seeing now is fully justified with the huge gains in the last 12 months but they will bottom out and start rising again within the next six months.
Obviously there is a risk that these coins will become worthless so only gamble what you can afford to lose but I personally think having a small amount of your investment portfolio invested in Crypto currency could be worth the gamble at the current levels. I have invested a small amount myself purely as gamble but to put the amount into perspective I've placed bigger bets on football matches or the roulette table. Unfortunately if we get to the mania phase of the bubble then we will have not so sensible people putting their life savings in and these will be the people that get badly burnt.
DonkeyApple said:
It really has no relevance at all. If dumb money is flowing in then that is what will be driving it and it will end up with the exact same set of charts as all penny stocks, crypto coins and fidget spinner sales.
Might be dumb money but it’s the CBD boom that is driving it. What are they investing in exactly? What are ‘cannabis stocks’?DonkeyApple said:
CSLM3CSL said:
The main advantage people will see will be the avoidance of capital gains taxes in most countries. E.g your Bitcoin Cash is now worth enough to buy to buy a Bentley you could go to the dealership and pay for the car with Crypto currency whereas if you sold the Crypto currency for cash then you would be liable for capital gains tax.
I think this was one of the most sensible and prescient posts from 2016 on the whole crypto saga. I hope the poster bailed with some nice profits. Behemoth said:
DonkeyApple said:
CSLM3CSL said:
The main advantage people will see will be the avoidance of capital gains taxes in most countries. E.g your Bitcoin Cash is now worth enough to buy to buy a Bentley you could go to the dealership and pay for the car with Crypto currency whereas if you sold the Crypto currency for cash then you would be liable for capital gains tax.
I think this was one of the most sensible and prescient posts from 2016 on the whole crypto saga. I hope the poster bailed with some nice profits. Behemoth said:
DonkeyApple said:
CSLM3CSL said:
The main advantage people will see will be the avoidance of capital gains taxes in most countries. E.g your Bitcoin Cash is now worth enough to buy to buy a Bentley you could go to the dealership and pay for the car with Crypto currency whereas if you sold the Crypto currency for cash then you would be liable for capital gains tax.
I think this was one of the most sensible and prescient posts from 2016 on the whole crypto saga. I hope the poster bailed with some nice profits. 
Behemoth said:
DonkeyApple said:
You missed the point.
Whilst it's obvious your quip concerned investing and bailing a year earlier, imo the CGT statement is more important. It's very misleading.
It’s currently useless for anything else!
p1stonhead said:
You don’t think people want to use an untraceable currency to avoid taxes? Is that one of the main features of it?
It’s currently useless for anything else!
Tracing a bitcoin tx is nothing new, it was happening before you probably even heard of it https://www.wired.com/2015/01/prosecutors-trace-13...It’s currently useless for anything else!
Blockchain analysis these days is pretty advanced https://www.techworld.com/startups/bitcoin-transac...
Behemoth said:
p1stonhead said:
You don’t think people want to use an untraceable currency to avoid taxes? Is that one of the main features of it?
It’s currently useless for anything else!
Tracing a bitcoin tx is nothing new, it was happening before you probably even heard of it https://www.wired.com/2015/01/prosecutors-trace-13...It’s currently useless for anything else!
Blockchain analysis these days is pretty advanced https://www.techworld.com/startups/bitcoin-transac...
What are the supposed benefits?
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