Crypto Currency Thread
Discussion
Kent Border Kenny said:
g4ry13 said:
Ok, come back in 6 months and we'll talk about the past again 
What’s the point, you’re not willing to make any claims about what will happen over that period.g4ry13 said:
I think it will perform better than the financial markets. It will make more / lose less than an investment on Wall Street / FTSE will return.
Ok, at last, some meat on the bones.So, if we want to be able to come back and compare, should we pick the closing price tonight, and use the S&P 500 total return index as the relevant comparison?
Chamon_Lee said:
Never understand why people feel the need to insult someone who has done so much so well with his life. W Buffet is a credit to his field and has done very well. I don't discount warren or Cathy and both are excellent in their fields. People act as if Warren doesn't invest in tech at all yet he does and a good chunk too. Even if he didn't I think it’s ridiculous to insult someone so accomplished; it’s akin to calling Cathy Woods from ARK a quack with fantasy of what the future will look like!
Let’s be respectful for all that have done well in their fields.
Really? It's not like he's going to be reading this thread and become offended. A book could be written about his mistakes (Dexter, missing Google IPO etc etc) and the HUGE fed bailouts he's benefited from. There's no question he has done well in his lifetime but that's in the past. Your comparison with Cathie Wood is interesting - IMO she has foresight with regards to where cryptocurrency is going yet Buffett thinks Bitcoin is "rat poison squared" hence my belief that he's a dinosaur. Time will tell if he is right or wrong.Let’s be respectful for all that have done well in their fields.
Kent Border Kenny said:
g4ry13 said:
I think it will perform better than the financial markets. It will make more / lose less than an investment on Wall Street / FTSE will return.
Ok, at last, some meat on the bones.So, if we want to be able to come back and compare, should we pick the closing price tonight, and use the S&P 500 total return index as the relevant comparison?
Count it however you like if it's important to you to mark off 6 months on the calendar so you may have the opportunity to say "I told you so".
p_k_n said:
Chamon_Lee said:
Never understand why people feel the need to insult someone who has done so much so well with his life. W Buffet is a credit to his field and has done very well. I don't discount warren or Cathy and both are excellent in their fields. People act as if Warren doesn't invest in tech at all yet he does and a good chunk too. Even if he didn't I think it’s ridiculous to insult someone so accomplished; it’s akin to calling Cathy Woods from ARK a quack with fantasy of what the future will look like!
Let’s be respectful for all that have done well in their fields.
Really? It's not like he's going to be reading this thread and become offended. A book could be written about his mistakes (Dexter, missing Google IPO etc etc) and the HUGE fed bailouts he's benefited from. There's no question he has done well in his lifetime but that's in the past. Your comparison with Cathie Wood is interesting - IMO she has foresight with regards to where cryptocurrency is going yet Buffett thinks Bitcoin is "rat poison squared" hence my belief that he's a dinosaur. Time will tell if he is right or wrong.Let’s be respectful for all that have done well in their fields.
Buffett has failed to evolve with the world.
x5x3 said:
g4ry13 said:
Taking into account stability and performance - it is one of the best performing investments.
Have you looked at the chart history for BTC - its not exactly stable and although I am a fan I would not recommend it to anyone on the basis it is stable.On a day-to-day basis it does have larger moves than more conventional instruments. Even some weeks. Over the last few years it has been gradually appreciating in price (albeit with some sizeable corrections).
I made the claim based on the performance it delivers AND the stability. If you want stable, go put money in an NS&I 1 year fixed rate bond .
g4ry13 said:
Similar can be said for other instruments when you are selective with timeframes.
On a day-to-day basis it does have larger moves than more conventional instruments. Even some weeks. Over the last few years it has been gradually appreciating in price (albeit with some sizeable corrections).
I made the claim based on the performance it delivers AND the stability. If you want stable, go put money in an NS&I 1 year fixed rate bond .
By whichever measure you use (VIX being the common one) Bitcoin is by far one of the most unstable assets out there. On a day-to-day basis it does have larger moves than more conventional instruments. Even some weeks. Over the last few years it has been gradually appreciating in price (albeit with some sizeable corrections).
I made the claim based on the performance it delivers AND the stability. If you want stable, go put money in an NS&I 1 year fixed rate bond .
g4ry13 said:
When does the BTC market close?
Count it however you like if it's important to you to mark off 6 months on the calendar so you may have the opportunity to say "I told you so".
But I’m making no prediction, so I’ll not really get to say I told you anything.Count it however you like if it's important to you to mark off 6 months on the calendar so you may have the opportunity to say "I told you so".
Hopefully I’ve just made one of the crypto evangelists put a little bit of thought into what they mean when they hype it.
Kent Border Kenny said:
g4ry13 said:
When does the BTC market close?
Count it however you like if it's important to you to mark off 6 months on the calendar so you may have the opportunity to say "I told you so".
But I’m making no prediction, so I’ll not really get to say I told you anything.Count it however you like if it's important to you to mark off 6 months on the calendar so you may have the opportunity to say "I told you so".
Hopefully I’ve just made one of the crypto evangelists put a little bit of thought into what they mean when they hype it.
I personally have very little Bitcoin and most of my exposure is in other crypto assets.
x5x3 said:
g4ry13 said:
Taking into account stability and performance - it is one of the best performing investments.
Have you looked at the chart history for BTC - its not exactly stable and although I am a fan I would not recommend it to anyone on the basis it is stable.If you cost average bought into BTC over the last decade at £1 a month you’d be a multi-millionaire now.
Only if you buy like a melon at a spike would or sell in a dip like a plonker would you have lost on BTC.
Mr Whippy said:
Only if you buy like a melon at a spike would or sell in a dip like a plonker would you have lost on BTC.
That is the same for any asset which has increased in value. Oh, wait. HODL, everyone HODL!!!!!!!! To the mooooooooooon.
There is some absolute nonsense posted in here at times. I'm glad non of you have to explain your trading strategies or analysis to a risk department.
They'd tear you apart. Why can people not admit it's a complete punt; you're buying into a totally unregulated and opaque market where even the number of trades, let alone the trade price and counterparties are complete guesses. If you want to gamble that is totally fine, but don't dress it up with any kind of fundamental analysis which you are then correlating with a price movement.
Condi said:
That is the same for any asset which has increased in value.
Oh, wait. HODL, everyone HODL!!!!!!!! To the mooooooooooon.
There is some absolute nonsense posted in here at times. I'm glad non of you have to explain your trading strategies or analysis to a risk department. They'd tear you apart.
Why can people not admit it's a complete punt; you're buying into a totally unregulated and opaque market where even the number of trades, let alone the trade price and counterparties are complete guesses. If you want to gamble that is totally fine, but don't dress it up with any kind of fundamental analysis which you are then correlating with a price movement.
And that's leaving aside that the strategies that some seem to favour would have seen them completely wiped out on each of the pull-backs.Oh, wait. HODL, everyone HODL!!!!!!!! To the mooooooooooon.
There is some absolute nonsense posted in here at times. I'm glad non of you have to explain your trading strategies or analysis to a risk department.
They'd tear you apart. Why can people not admit it's a complete punt; you're buying into a totally unregulated and opaque market where even the number of trades, let alone the trade price and counterparties are complete guesses. If you want to gamble that is totally fine, but don't dress it up with any kind of fundamental analysis which you are then correlating with a price movement.
Condi said:
Why can people not admit it's a complete punt; you're buying into a totally unregulated and opaque market where even the number of trades, let alone the trade price and counterparties are complete guesses. If you want to gamble that is totally fine, but don't dress it up with any kind of fundamental analysis which you are then correlating with a price movement.
I’m sure I’ve read there are over a thousand crypto currencies that have failed. It might have been on here, I know nothing about them 
Kent Border Kenny said:
Condi said:
That is the same for any asset which has increased in value.
Oh, wait. HODL, everyone HODL!!!!!!!! To the mooooooooooon.
There is some absolute nonsense posted in here at times. I'm glad non of you have to explain your trading strategies or analysis to a risk department. They'd tear you apart.
Why can people not admit it's a complete punt; you're buying into a totally unregulated and opaque market where even the number of trades, let alone the trade price and counterparties are complete guesses. If you want to gamble that is totally fine, but don't dress it up with any kind of fundamental analysis which you are then correlating with a price movement.
And that's leaving aside that the strategies that some seem to favour would have seen them completely wiped out on each of the pull-backs.Oh, wait. HODL, everyone HODL!!!!!!!! To the mooooooooooon.
There is some absolute nonsense posted in here at times. I'm glad non of you have to explain your trading strategies or analysis to a risk department.
They'd tear you apart. Why can people not admit it's a complete punt; you're buying into a totally unregulated and opaque market where even the number of trades, let alone the trade price and counterparties are complete guesses. If you want to gamble that is totally fine, but don't dress it up with any kind of fundamental analysis which you are then correlating with a price movement.
dimots said:
How can we still be having this discussion haha.
Yeah crypto is a flash in the pan, it'll all blow over by Christmas. See ya lads
Have you found a use for it yet? Yeah crypto is a flash in the pan, it'll all blow over by Christmas. See ya lads
Wasn't it used by half of Venezuela? Then it was going to become the new gold standard? Maybe you could buy a pizza with it? Even drug dealers are moving on to something else now.
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