Start with crypto now - Should or not?

[speedtripler]

2 minutes ago, Meljames said:

 

Been buying all week mate. 

Probably the cheapest time off the year to "backup the truck" ..... 

 

Ignore the fud, people have been telling me I'm going to lose my money since 2011 (even though that's impossible because Ive already taken out orders of magnitude more than I put in lol) 

 

Bitcoin has a history of moving out of weak hands into strong hands

[speedtripler]

 

[Firefan]

For a crypto sub forum we certainly have a lot of crypto haters here! :) Nothing exiting going on in the Farming sub forum?

 

Some good comments though - and while I also dabble a bit in cryptos, I do agree that this new technology is as risky/difficult as trying to pick the right tech stocks in the mid 90-ties.

 

Some smart people here have taking out their original investment (I have too...so also less smart people!) and play/"invest" with the house money. Maybe moving some profits to boring gold/silver (only thing not in a bubble these days it seems) might also stabilize ones overall portfolio. Also; diversifying into different cryptos can also lower the risk a bit - they do tend to follow each other, but in the longer; some will make it, and some will not - so owning a basket of them still makes sense.

 

Cheers!

 

 

[lkn]

2 hours ago, Jabers said:

please educate yourself before arguing things like that.

I have made dozens of technical posts here, not seen a single actual rebuttal but lots of these “nonsense”, “educate yourself”, “people like you also predicted the internet would fail”, etc.

 

As I already wrote in my comment, the practical solution to mobile wallets is to rely on a server, but that centralizes control/power, which is what bitcoin is meant to avoid.

 

It’s a shame that the proponents of bitcoin can’t argue the technical merits of bitcoin, because there are actually many interesting arguments that could be had about it, and if the proponents would admit to themselves the dozens of issues that surround bitcoin, we could perhaps have a constructive conversation about what could possibly be done to try and solve them…

 

You would think that people who believe this thing is gonna disrupt the financial system could argue their case better than just ad hominems.

[watcharacters]

17 hours ago, Sirbergan said:

A lot of that is fake news, for instance India is not banning cryptos.

 

 

 

Are you stating some countries are not starting to impose regulations on cryptocurrencies? 

 

 

Please just say yes or no.

[speedtripler]

25 minutes ago, watcharacters said:

 

 

 

Are you stating some countries are not starting to impose regulations on cryptocurrencies? 

 

 

Please just say yes or no.

A regulated environment is not the same as ban

 

If anything, it makes it SAFER for retail investors 

 

 

[watcharacters]

12 minutes ago, speedtripler said:

A regulated environment is not the same as ban

 

If anything, it makes it SAFER for retail investors 

 

 

 

 

YOU failed to say a simple "yes or no".

[speedtripler]

Just now, watcharacters said:

 

 

YOU failed to say a simple "yes or no".

I wasn't the person the question was directed to was I? 

 

Yes or No? 

 

[Jabers]

37 minutes ago, lkn said:

I have made dozens of technical posts here, not seen a single actual rebuttal but lots of these “nonsense”, “educate yourself”, “people like you also predicted the internet would fail”, etc.

 

As I already wrote in my comment, the practical solution to mobile wallets is to rely on a server, but that centralizes control/power, which is what bitcoin is meant to avoid.

 

It’s a shame that the proponents of bitcoin can’t argue the technical merits of bitcoin, because there are actually many interesting arguments that could be had about it, and if the proponents would admit to themselves the dozens of issues that surround bitcoin, we could perhaps have a constructive conversation about what could possibly be done to try and solve them…

 

You would think that people who believe this thing is gonna disrupt the financial system could argue their case better than just ad hominems.

 

 

 

who in this whole forum ever said bitcoin was perfect and had no flaws. not me. i am not big into bitcoin as i see it getting less and less popular do to its issues. it cant handle the transaction per second that it needs to.

i only have a few bitcoins left as i have been investing in coins with more utility rather then just a store of value like bitcoin currently is. 'digital gold' as they say. i honesly doubt bitcoin will rise up to its previous ATH of $20,000 with all the new, more useful and cheaper to use coins around now.

 

lightning network is a mess and is far too complex for the average crypto user. plus opening a channel and funding it and doing so all off chain (until you finalize/close the channel) is going to be way to risky and complicated for the majority of stores to use it. it will mainly be used by exchanges and huge retailers that can afford a team dedicated to running it (amazon, walmart, apple etc) that is if they embrace it.

there are many other coins that can handle alot more transactions per second and are alot easier for the average person too use.  ethereum is going to have another good year as it continues to eat away at bitcoins market cap and exchanges continue to add eth pairings.

i rarely, rarely use bitcoin anymore unless i absolutely have to.

 

[speedtripler]

1 minute ago, Jabers said:

 

 

 

who in this whole forum ever said bitcoin was perfect and had no flaws. not me. i am not big into bitcoin as i see it getting less and less popular do to its issues. it cant handle the transaction per second that it needs to.

i only have a few bitcoins left as i have been investing in coins with more utility rather then just a store of value like bitcoin currently is. 'digital gold' as they say. i honesly doubt bitcoin will rise up to its previous ATH of $20,000 with all the new, more useful and cheaper to use coins around now.

 

lightning network is a mess and is far too complex for the average crypto user. plus opening a channel and funding it and doing so all off chain (until you finalize/close the channel) is going to be way to risky and complicated for the majority of stores to use it. it will mainly be used by exchanges and huge retailers that can afford a team dedicated to running it (amazon, walmart, apple etc) that is if they embrace it.

there are many other coins that can handle alot more transactions per second and are alot easier for the average person too use.  ethereum is going to have another good year as it continues to eat away at bitcoins market cap and exchanges continue to add eth pairings.

i rarely, rarely use bitcoin anymore unless i absolutely have to.

 

Btc 22k in March 

Bookmark it! 

[Jabers]

47 minutes ago, watcharacters said:

 

 

 

Are you stating some countries are not starting to impose regulations on cryptocurrencies? 

 

 

Please just say yes or no.

 

regulations on icos? yes.

 

korea regulated so you have to be 18+ to trade crypto.

 

and you are acting like regulation is a bad thing. its not. regulating crypto would help it be less volatile and more accepted as a true currency.

 

regulation, good.

ban (which is near impossible), bad.

 

 

Edited February 4, 2018 by Jabers

[Jabers]

2 minutes ago, speedtripler said:

Btc 22k in March 

Bookmark it! 

possible. i still keep 1 just in case. it was my majority holding last year. but now its about 10% of my holdings (i mean hodlings) as i see alot more potential growth in many other coins

[watcharacters]

7 minutes ago, Jabers said:

possible. i still keep 1 just in case. it was my majority holding last year. but now its about 10% of my holdings (i mean hodlings) as i see alot more potential growth in many other coins

 

 

 

 

Depending on your country and your age, I hope you are joking about having having one BitCoin as a  a majority of your holdings.

 

 

 

[Sirbergan]

17 hours ago, watcharacters said:

 

 

 

Are you stating some countries are not starting to impose regulations on cryptocurrencies? 

 

 

Please just say yes or no.

 

No, I did not say that. I said that news about India banning them are fake.

[Jabers]

19 hours ago, watcharacters said:

 

 

 

 

Depending on your country and your age, I hope you are joking about having having one BitCoin as a  a majority of your holdings.

 

 

 

 

i said i am keeping 1, just in case.

 

then i also said bitcoin WAS a majority of my holdings last year, but not anymore. (not just 1 bitcoin. i had multiple obviously)

 

meaning, i sold most of them (right around 600,000 each in december). got money to buy a house now, but keeping 1 just in case.

 

by the 10% part of my reply, that means now i only kept 1 bitcoin, invested the rest into alts and my bitcoin holdings is only about 10% of my portfolio.

 

 

even if you were serious about someone having 1 bitcoin as the majority of their portfolio, whats so wrong with that? everyone invests different and believes differently in coins.

 

and for most of the young farangs here 'living the dream', 1 bitcoin would last them the rest of their 20 baht/day lifestyle haha

 

Edited February 5, 2018 by Jabers

[Skeptic7]

On 2/3/2018 at 11:21 PM, Jabers said:

LOL. there is no need to waste time trying to talk crypto to all the old men on here. they dont understand it at all and will never embrace it. old people have the hardest mindset to ever change. look at all the politicians, old with terrible old school ideas that hold back progress.

 

i guarantee all these old guys on here said the same thing when the internet came out... "who needs this electronic news and mail. i get mine in the mail and on paper and it works fine. this will never be popular. no one will ever use it and i hate technology!". probably acted the same about facebook too.

 

i could go on all day, but i got too many coins to research and trades to make to waste time begging old guys to embrace crypto. i have made a ton from crypto, and i know for sure its not going anywhere. only up :)

"only up" 

 

[FreddieRoyle]

Well call me mad, but I have started buying some BTC. This is not the 1st time there has been a huge selloff, and it will not be the last, but if people were buying at $18,000 + then at 6.5k it is possibly a bargain. If it halves again I will be buying a much larger stake. 

[cookai]

Will be buying at $300 ETH. 

[Meljames]

A strong day for buying.

[DeeMak9]

On 2/6/2018 at 10:04 AM, FreddieRoyle said:

Well call me mad, but I have started buying some BTC. This is not the 1st time there has been a huge selloff, and it will not be the last, but if people were buying at $18,000 + then at 6.5k it is possibly a bargain. If it halves again I will be buying a much larger stake. 

 

Congrats, your strategy is a winning one in crypto.

[phycokiller]

yes you should start now. from the start return has been 3x a year, since Japan went legal in april its been 8x and shows no sign of slowing. sure some people lost out, those that bought in Dec and Jan, 2 months out of 7 years but they will likely be in profit within a month or 2 as well. long term bitcoin is quite consistent and only likely to get more so. if s korea goes legal as appears expect that 8x profit to continue and even increase. bitcoin is in its most profitable period right now

[lkn]

43 minutes ago, phycokiller said:

they will likely be in profit within a month or 2 as well. long term bitcoin is quite consistent and only likely to get more so.

What is the end goal? I.e. will you eventually cash out?

 

And if so, can you explain where the profit comes from?

 

E.g. if it goes to $60k and everybody decides that now is the time to cash out (realize the profit), that is more than a trillion dollars, where does that come from?

 

Are you expecting that when bitcoin hits $60k there will be new buyers lining up to buy at that price for a total of more than a trillion dollars? Or are you expecting that people who buy into bitcoin will basically never cash out?

 

If the goal is to never cash out, how exactly is this an investment?

[speedtripler]

2 minutes ago, lkn said:

What is the end goal? I.e. will you eventually cash out?

 

And if so, can you explain where the profit comes from?

 

E.g. if it goes to $60k and everybody decides that now is the time to cash out (realize the profit), that is more than a trillion dollars, where does that come from?

 

Are you expecting that when bitcoin hits $60k there will be new buyers lining up to buy at that price for a total of more than a trillion dollars? Or are you expecting that people who buy into bitcoin will basically never cash out?

 

If the goal is to never cash out, how exactly is this an investment?

How is gold an investment by that logic? 

[sanemax]

14 hours ago, Jabers said:

soooooo, if you "foolishly" invested in it on that day, lets say you "risked" 200,000 baht, you would of made 150,000 baht in less then 2 weeks.

not bad huh?

Although it you would have invested 600 000 Baht in a B/C two months ago, you would have lost 3-400 000 Baht

[lkn]

5 minutes ago, speedtripler said:

How is gold an investment by that logic? 

What logic? I asked some concrete questions.

 

Can you answer them?

 

What you could ask is “what are the answers to these questions for gold?”, but no-one (anymore) is saying that gold will keep going up (they said that ~10 years ago, but gold has been a zero-sum game for the last 8 years, and no-one seems to make the outrageous claims about gold as they did ~10 years ago).

 

[HooHaa]

On 2/4/2018 at 5:03 PM, watcharacters said:

 

 

 

 

Depending on your country and your age, I hope you are joking about having having one BitCoin as a  a majority of your holdings.

 

 

 

did you read another 15 words in,to where its about 10 percent of his current holding?

[speedtripler]

29 minutes ago, lkn said:

What logic? I asked some concrete questions.

 

Can you answer them?

 

What you could ask is “what are the answers to these questions for gold?”, but no-one (anymore) is saying that gold will keep going up (they said that ~10 years ago, but gold has been a zero-sum game for the last 8 years, and no-one seems to make the outrageous claims about gold as they did ~10 years ago).

 

You sound like you're  one step away from putting slippers in  the dishwasher and complaining that the dog took Your dentures.... Again 

 

I have been buying into crypto asetts, services and companies since 2011 and I'm  and buying, building, studying and investing  more because I am interested in technical advances

 

People like you told Bill Gates that nobody would ever need a computer at home and now most of us have one in our pockets so I don't blame people who don't workor study in this indistry for not understanding this Industry because its literally that early on it will take years and years to mature into seamless services you use daily without thinking about.... 

[lkn]

1 hour ago, speedtripler said:

People like you […]

Not sure how we got from “how is the profit generated?” to “people like you…”.

 

It amazes me that a bitcoin proponent as devoted as you don’t have better ways to argue than ad hominems, especially when the original post was actually just asking questions, not making any statements.

[speedtripler]

1 minute ago, lkn said:

Not sure how we got from “how is the profit generated?” to “people like you…”.

 

It amazes me that a bitcoin proponent as devoted as you don’t have better ways to argue than ad hominems, especially when the original post was actually just asking questions, not making any statements.

We understand you ? 

 

You've been prattling on for months you don't get it..... 

 

But some of us DO get it, and not going to waste thousands of words trying to explain the benefits of rocket science to a chimp.... 

 

When blockchain technology is ready for *you* to use, you  won't even know you're using it... 

 

 

[chingching]

3 hours ago, lkn said:

what is the end goal? I.e. will you eventually cash out?

 

And if so, can you explain where the profit comes from?

 

E.g. if it goes to $60k and everybody decides that now is the time to cash out (realize the profit), that is more than a trillion dollars, where does that come from?

 

Are you expecting that when bitcoin hits $60k there will be new buyers lining up to buy at that price for a total of more than a trillion dollars? Or are you expecting that people who buy into bitcoin will basically never cash out?

 

If the goal is to never cash out, how exactly is this an investment?

i GUESS you have never invested in the stock market. If google goes to a trillion dolllars a share, will you be able to cash out?  If everyone's bank decides to give you 1,000,000 baht for every baht you have on deposit, will everyone be able to withdraw their money ?

It helps to have some common sense, and not deal in impossible scenarios. 

If the bank did not give everyone free money, but if everyone decided to withdraw all their money at the same time, do you think everyone will get all their money?  So how is that called "savings" ?

Edited February 21, 2018 by chingching
.