Crypto Currency Thread
Discussion
James_B said:
No, I didn’t. I posited a link between those who proselytise about bitcoin and those who believe conspiracy theories.
Same thing. We have already covered the definition of an ad hominem attack and the 'guilty by association' fallacy.James_B said:
As for pomposity, one of us actually works in the markets so has proper knowledge, you are just wanting to appear authoritative by fiat.
You work in the bitcoin market? HarryW said:
DonkeyApple said:
Bluedot said:
H4 and Daily charts certainly showing that Bitcoin is due a breakout either up or down in the next week or two.
Exactly the same signal I’m getting from Ethel’s tealeaves. Spooky. Just thought it looked quite interesting from a technical point of view.
Bluedot said:
HarryW said:
DonkeyApple said:
Bluedot said:
H4 and Daily charts certainly showing that Bitcoin is due a breakout either up or down in the next week or two.
Exactly the same signal I’m getting from Ethel’s tealeaves. Spooky. Just thought it looked quite interesting from a technical point of view.
James_B said:
So still no link then?
Come on, not hard, if I’ve missed it please just show me where.
For the third time (I've actually lost count), there are no conspiracy theories and your obvious ploy at trying to connect me with such nonsense is pure ad hominem. It's an incredibly weak way of trying to argue your point. Come on, not hard, if I’ve missed it please just show me where.
Let's instead please try and discuss bitcoin. How about offering some intelligent counter arguments instead of lashing around?
bongtom said:
I read that 80% of ICOs are scams. Pfft. I’d reckon 99% are.
There are grades of scam. The 80% accurately describes proven outright frauds where investors have been left high and dry. If you include tokens with incompetent management and/or incompetent technology, then your 99% out of the ~860 ICOs normally recorded (eg https://www.coindesk.com/ico-tracker/ ) would leave 8-9 out there that are not scams of one form or another. I think that's a reasonable guess, maybe on the high side. I'd estimate 99.5%.Good article here about it, basically the same for most icons. I think the scam ones are much higher maybe 95% of all icons issued. They are easy to spot on a whole but the more sophisticated not so much so. I leave them alone nowadays, as even in the boom times it was better just to hold Eth or BTC.
https://www.google.co.uk/amp/s/global.handelsblatt...
https://www.google.co.uk/amp/s/global.handelsblatt...
Edited by Thesprucegoose on Tuesday 9th October 00:46
Thesprucegoose said:
Good article here about it, basically the same for most icons. I think the scam ones are much higher maybe 95% of all icons issued. They are easy to spot on a whole but the more sophisticated not so much so. I leave them alone nowadays, as even in the boom times it was better just to hold Eth or BTC.
Eth. 4 years on, worth ~$30bln & its top use case is to allow less than 500 individuals to trade monsters. Meanwhile it's impossible to run a full node & the cat breeding dapp crashed the whole thing. It was an interesting experiment at launch but I've long found it difficult to take seriously.bongtom said:
Why don’t you just ignore him if his “attacks” unsettle you so much precious?
Anyhoo. Envion. What a mess.
I read that 80% of ICOs are scams. Pfft. I’d reckon 99% are.
I agree with James more than Dimots for crypto, but it's complete nonsense to try and argue someone is a conspiracy nut, just because the person accusing decided they link the two.Anyhoo. Envion. What a mess.
I read that 80% of ICOs are scams. Pfft. I’d reckon 99% are.
DonkeyApple said:
I think that the last two weeks has finally put to bed any argument that a crypto currency is a viable store of wealth let alone a safe haven.
Yes and the same for the stock market of course. So I shall be moving all my wealth into scratch-cards I suggest you follow suit.dimots said:
DonkeyApple said:
I think that the last two weeks has finally put to bed any argument that a crypto currency is a viable store of wealth let alone a safe haven.
Yes and the same for the stock market of course. So I shall be moving all my wealth into scratch-cards I suggest you follow suit.
. The last 14 day’s has seen cryptos move as if equities. Ie they have not moved as stores of wealth/safe havens such as gold and not have they moved remotely like currencies. When it comes to a global macro market shift the truth tends to come out for all to see and stop debating and this month has/is one such event and it pretty firmly puts to bed the debate as to what cryptos are. They aren’t safe havens and nor are the currencies. It’s a very interesting point in time as we have some real clarity going forward.
dimots said:
No you are missing the point.
Nope. Fancy explaining how bond yield stability will bring money back into cryptos? What’s the yield relationship across to other assets?How about explaining how cryptos have worked as a safe haven through October, using their relative performance to major currencies.
And how about explaining how they have worked as a currency pair over the same period?
I would be genuinely interested in hearing how the disconnect this month across the entire crypto market justifies the historic argument that they are a safe haven or store of wealth.
DonkeyApple said:
You’re kind of missing the point. . The last 14 day’s has seen cryptos move as if equities. Ie they have not moved as stores of wealth/safe havens such as gold and not have they moved remotely like currencies.
When it comes to a global macro market shift the truth tends to come out for all to see and stop debating and this month has/is one such event and it pretty firmly puts to bed the debate as to what cryptos are. They aren’t safe havens and nor are the currencies. It’s a very interesting point in time as we have some real clarity going forward.
Nothing is put to bed, it's way way too early to determine that. Zoom out beyond the last 12 months.. The last 14 day’s has seen cryptos move as if equities. Ie they have not moved as stores of wealth/safe havens such as gold and not have they moved remotely like currencies. When it comes to a global macro market shift the truth tends to come out for all to see and stop debating and this month has/is one such event and it pretty firmly puts to bed the debate as to what cryptos are. They aren’t safe havens and nor are the currencies. It’s a very interesting point in time as we have some real clarity going forward.
When traders are margin called, they pull from any and all assets to pay up. Including bitcoin, including gold. If/when there's a bigger financial crash then neither bitcoin or gold are going to be any sort of safe haven. When average Joes come under pressure, they will also pull any and every asset to pay bills & put food on the table.
Behemoth said:
When average Joes come under pressure, they will also pull any and every asset to pay bills & put food on the table.
Do you think the recent sell off, across all traded objects (for want of a better word) is because people need to liquidate for basic necessities? I dont. I think its simply a risk off attitude and the fundamental fact that with ongoing trade wars company profits wont justify the high values. Now QE is ending as well and IR are going up returns elsewhere can be better than over the last 10 years.
Gold has fundamentally been changed by etfs. I know plenty about gold and bullion, you can’t compare bitcoin to gold.
Bitcoin is borderless, decoupled from typical exchange mechanisms (though not from the wider crypto market obviously) and free from political influence. You can’t compare bitcoin to fiat.
If you keep looking for a way to relate the price of bitcoin to the price of anything else you will remain frustrated.
Bitcoin is borderless, decoupled from typical exchange mechanisms (though not from the wider crypto market obviously) and free from political influence. You can’t compare bitcoin to fiat.
If you keep looking for a way to relate the price of bitcoin to the price of anything else you will remain frustrated.
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