Crypto Currencies

[shaurene]

Am I glad I decided not to invest in them a few weeks back. Bitcoin fell below $6,000. Ripple sitting at under $0.50 all the others just as bad.

Governments will continue to make it hard for investors due to the easy money laundering. I think Bitcoin will go less than $1,000 before long.

[bkk_mike]

But I'm willing to bet, as we all are, that we wish we'd bought some a few years ago (and forgotten about it without misplacing the keys).

 

Remember the first transaction where something was bought with Bitcoin was a pizza for 1,000 bitcoin.

That's an expensive pizza.

 

As for the money laundering - it's actually a LOT easier to money launder with normal currencies than with Bitcoin. All bitcoin transactions are recorded, so if anyone ever links you to a wallet - they can be 100% certain that you did the transaction. You have to transfer it to some other crypto-currency (like Monero) that is designed not to be trackable.

[lucjoker]

hope the bitcoi goes down to 5 $ and stay there .

If so , we can finaly start using it for what it was designed ........replace the banks.

If it is used to gamble ......you can see it as yet another Ponzi......

Connect the bitcoin to the dollar ......and it will show its real value...

[sammieuk1]

Back in the real world armature bitcoin investors must be feeling like a post brexit brit right now a mixture of oh god and kinal .

[Blackheart1916]

Am I glad I invested in crypto currencies. Sold a heap of Ripple for around AU$1.80 last week, bought it back last night at $0.83. Sold some of my Ethereum at around $1500, held onto some, it dropped to $800, now up around $1000, still way above my initial purchase price of $420. there's money to be made if you are on the ball, sell high, buy low. Simple, really.

[Blackheart1916]

As for money laundering, at the moment the Commonwealth Bank of Australia is under investigation for 53,000 counts of money laundering and breaching counter terrorism laws, and a Royal Commission is about to get started into the Big 4 banks in Oz. Who are the criminals?

[sanemax]

Just now, Blackheart1916 said:

As for money laundering, at the moment the Commonwealth Bank of Australia is under investigation for 53,000 counts of money laundering and breaching counter terrorism laws, and a Royal Commission is about to get started into the Big 4 banks in Oz. Who are the criminals?

Although you cannot label them as being criminals, just because they're under investigation .

You would have to wait until the investigation has been completed and criminal activity has be proven

[Blackheart1916]

1 minute ago, sanemax said:

Although you cannot label them as being criminals, just because they're under investigation .

You would have to wait until the investigation has been completed and criminal activity has be proven

By allowing the anonymous deposits of over AU$10,000 to be deposited and then transferred without applying the checks required, they have broken the laws, and have already admitted that fact. Now it's a case of getting the PR machine on the job, and thinning out the blame.

[davidst01]

13 minutes ago, Blackheart1916 said:

Am I glad I invested in crypto currencies. Sold a heap of Ripple for around AU$1.80 last week, bought it back last night at $0.83. Sold some of my Ethereum at around $1500, held onto some, it dropped to $800, now up around $1000, still way above my initial purchase price of $420. there's money to be made if you are on the ball, sell high, buy low. Simple, really.

exactly. OP is ignorant 

[sanemax]

7 minutes ago, Blackheart1916 said:

By allowing the anonymous deposits of over AU$10,000 to be deposited and then transferred without applying the checks required, they have broken the laws, and have already admitted that fact. Now it's a case of getting the PR machine on the job, and thinning out the blame.

Oh right, so that means that Bitcoin isnt used any criminal activity

[suzannegoh]

35 minutes ago, Blackheart1916 said:

Am I glad I invested in crypto currencies. Sold a heap of Ripple for around AU$1.80 last week, bought it back last night at $0.83. Sold some of my Ethereum at around $1500, held onto some, it dropped to $800, now up around $1000, still way above my initial purchase price of $420. there's money to be made if you are on the ball, sell high, buy low. Simple, really.

I've noticed that a lot of investors in cryptos have perfected market timing to such an extent that they never have a losing trade.

Edited February 7, 2018 by suzannegoh

[Blackheart1916]

22 minutes ago, suzannegoh said:

I've noticed that a lot of investors in cryptos have perfected market timing to such an extent that they never have a losing trade.

Check it out Suzanne, it's easy. I have one screen open at my desk, when prices start falling sell, when they bottom out and start rising, buy.  Each transaction takes about 10 seconds, has a 3% fee, 6% for a buy/sell cycle, so the trick is to get a minimum 10% difference to profit a minimum of 4%. Yes, doesn't always work, but I am still way in front. Ripple has been swinging way more than 10%, ethereum is more stable, those are the only two I am in ATM.

[seancbk]

46 minutes ago, sanemax said:

Oh right, so that means that Bitcoin isnt used any criminal activity

 

I'd bet that bitcoin has been used in far fewer illegal transactions than any fiat currency.  

[Blackheart1916]

48 minutes ago, sanemax said:

Oh right, so that means that Bitcoin isnt used any criminal activity

No it doesn't mean that, it means that it isn't used for criminal activity any more or any less than other instruments of value. Clamping down crypto will not end money laundering for criminal activity.

[Blackheart1916]

37 minutes ago, suzannegoh said:

I've noticed that a lot of investors in cryptos have perfected market timing to such an extent that they never have a losing trade.

Can you point me to these investors? I would love a few tips from them!

[suzannegoh]

Check it out Suzanne, it's easy. I have one screen open at my desk, when prices start falling sell, when they bottom out and start rising, buy.  Each transaction takes about 10 seconds, has a 3% fee, 6% for a buy/sell cycle, so the trick is to get a minimum 10% difference to profit a minimum of 4%. Yes, doesn't always work, but I am still way in front. Ripple has been swinging way more than 10%, ethereum is more stable, those are the only two I am in ATM.

Forgive me for thinking that you are blowing smoke. Before the plunge the mantra was HODL - basically meaning that one should buy and hold forever. But now that BTC has pulled back 65% from its peak and other cryptos have pulled back even more, people are popping out of the woodwork claiming that they have been getting rich from that too by cleverly jumping in and out of the market.

[seancbk]

7 minutes ago, Blackheart1916 said:

34 minutes ago, suzannegoh said:

I've noticed that a lot of investors in cryptos have perfected market timing to such an extent that they never have a losing trade.

Check it out Suzanne, it's easy. I have one screen open at my desk, when prices start falling sell, when they bottom out and start rising, buy.  Each transaction takes about 10 seconds, has a 3% fee, 6% for a buy/sell cycle, so the trick is to get a minimum 10% difference to profit a minimum of 4%. Yes, doesn't always work, but I am still way in front. Ripple has been swinging way more than 10%, ethereum is more stable, those are the only two I am in ATM.

 

@suzannegoh  
 
I'd also add that some of us bought BTC at under $2000, not when it was at $20,000.    

I bought Ethereum at an average price of 3500 THB, it is now at 25,000 THB (despite dropping quite a bit)

Whether you make money depends on when you enter the market and more importantly, when you exit.   

If you put money in that you can't afford to just leave when prices dip, then you are not an investor, you are a gambler.

 

 

[seancbk]

1 minute ago, suzannegoh said:

 

Forgive me for thinking that you are blowing smoke. Before the plunge the mantra was HODL - basically meaning that one should buy and hold forever. But now that BTC has pulled back 65% from its peak and other cryptos have pulled back even more, people are popping out of the woodwork claiming that they have been getting rich from that too by cleverly jumping in and out of the market.

 

 

I've done both. 

I hold and I have tried doing some trading, although I'm no expert when it comes to TA (technical analysis of the chart data), so I have lost a small amount (then again lost is misleading as I was using funds that were part of a 1700% profit from a previous trade).

If you really know how to read charts and have the time to sit reading multiple news sources, twitter, telegram groups, facebook groups etc  then it is very possible, even in a bear market, to make a few % points on each trade.   If you swing trade with say 50,000 baht and can realise 3% per trade, that is 1500 baht per trade.   Manage to get in 3 trades a day and you've made 4500 baht a day.     That is assuming you know what you are doing.   I don't so I prefer to simply hold.

 

 

[sanemax]

11 minutes ago, suzannegoh said:

 

Forgive me for thinking that you are blowing smoke. Before the plunge the mantra was HODL - basically meaning that one should buy and hold forever. But now that BTC has pulled back 65% from its peak and other cryptos have pulled back even more, people are popping out of the woodwork claiming that they have been getting rich from that too by cleverly jumping in and out of the market.

 

I have never met a gambler who loses , they always either win or just about break even

[chingching]

I took a beating this past month,  lost 60%.  So now for the year I am up only 3412%  instead of the 7000% or so. at the end of December  For perspective that would be about 340 years to make that in a savings account.  About 50 years if you're lucky in the stock market

I don't think this is a great time to buy btc or ethereum.  I don't see them doing 40X or 10X like last year. I like some of the ethereum 'substitutes' and also D.A.G. coins.
 

AION, BNB, BCH, BTX, GBYTE, ADA, COSS, EBTC, EOS, EQT, GNX, THC, HUSH, MIOTA, LSK, XEM, NEO, OMG, POWR, XRB, SMART, XLM,  SUB, TKS, TRX, XVG 

[Blackheart1916]

30 minutes ago, suzannegoh said:

 

Forgive me for thinking that you are blowing smoke. Before the plunge the mantra was HODL - basically meaning that one should buy and hold forever. But now that BTC has pulled back 65% from its peak and other cryptos have pulled back even more, people are popping out of the woodwork claiming that they have been getting rich from that too by cleverly jumping in and out of the market.

 

Forgiven, as both of us could be just blowing smoke on an anonymous internet forum. "The mantra" is not what is followed by everyone, strategies are just as diverse as the investors/speculators/gamblers/ whatever. As is described a few posts down, there are ways to spread your risk, same as any other investment. In a nutshell, because I bought ethereum at $420 and sold some at $1500 +, I have withdrawn my original investment several times over, so what I have in cryptos now is profit, and if I lose it all, so be it. And don't forget, when people are panicking and selling because it's at a low price, someone is buying, at a low price.

[seancbk]

22 minutes ago, chingching said:

I don't think this is a great time to buy btc or ethereum.  I don't see them doing 40X or 10X like last year. I like some of the ethereum 'substitutes' and also D.A.G. coins.
 

AION, BNB, BCH, BTX, GBYTE, ADA, COSS, EBTC, EOS, EQT, GNX, THC, HUSH, MIOTA, LSK, XEM, NEO, OMG, POWR, XRB, SMART, XLM,  SUB, TKS, TRX, XVG 

 

I really like NEO (I made a killing on it early on).  I particularly like that holding NEO earns you GAS.   I still have the GAS I earned when I was holding NEO.

I also like BURST.  Very cheap, there is a lot of great development work going on and more importantly it is one of the few truly energy efficient coins, so has huge potential once people start learning about it.   

[LALes]

Check out GBTC, a bitcoin ETF.  Seemed to bottom out last night at $10/share and finished at 12.30.

Could be headed back up to 19 or more.   Then again....

[PerkinsCuthbert]

Of course there are a few punters who make money out of crypto in the short term; some may even flatter themselves that they are the Ace of Trades. But see if you can do it over a period of, say, a year or two.

In a sense, trading cryptos is similar to day trading stocks, and approximately 95% of share day traders lose money in the long term. But at least stocks sometimes have fundamentals to back up their price.

 

As I said three days ago, lambs to the slaughter - though there will inevitably be a few who claim it's easy to make money in X or Y - there always are.

[sanemax]

1 hour ago, seancbk said:

 

I've done both. 

I hold and I have tried doing some trading, although I'm no expert when it comes to TA (technical analysis of the chart data), so I have lost a small amount (then again lost is misleading as I was using funds that were part of a 1700% profit from a previous trade).

If you really know how to read charts and have the time to sit reading multiple news sources, twitter, telegram groups, facebook groups etc  then it is very possible, even in a bear market, to make a few % points on each trade.   If you swing trade with say 50,000 baht and can realise 3% per trade, that is 1500 baht per trade.   Manage to get in 3 trades a day and you've made 4500 baht a day.     That is assuming you know what you are doing.   I don't so I prefer to simply hold.

 

 

Previously you were encouraging people to invest in B/C long term, 20 years .

Basically , is this how it would work .

People buy Bitcoin and leave it there , and the price of B/C rises , you then sell your B/C when the price is high , causing the price to fall . And when the price is really low , you buy B/C

   Other people then invest in B/C , which causes the price to rise and when the price if high , you sell again .

   And this cycle depends on new long term money coming into B/C

[seancbk]

40 minutes ago, sanemax said:

Previously you were encouraging people to invest in B/C long term, 20 years .

Basically , is this how it would work .

People buy Bitcoin and leave it there , and the price of B/C rises , you then sell your B/C when the price is high , causing the price to fall . And when the price is really low , you buy B/C

   Other people then invest in B/C , which causes the price to rise and when the price if high , you sell again .

   And this cycle depends on new long term money coming into B/C

I'm not encouraging anyone to do anything.  As I've said before I'd rather people who don't understand crypto and who can't be bothered to spend the time to learn, didn't invest.   

I said that my investment strategy is to hold for up to 20 years (based on wanting to cash out when I'm still able to enjoy the money).  I've already cashed out some and used it to party.   I'll probably cash out some later this year to have a huge birthday blowout with my friends.

I don't sell then buy back.   That is a strategy that works if you know how to read the charts and can pick when the price is going to go up or down.  Don't forget that traders use very different timeframes such as 5 minute charts, 1 hour charts, 4 hour charts, to see what the price movements are.   You can't see those movements on a 7 year chart (you only see the macro movements).

My question is why are you so concerned about people buying, selling and holding bitcoin?   Do you get so excited by people who buy, sell and hold Apple stock, or Corn futures?   How about people who buy, sell or hold Gold?    Those markets go up and down and some people make money, some people lose money.  

In your example above we can change the wording to shares (could be any share or tradable asset really).

"People buy shares and leave it there , and the price of the shares rises , you then sell your shares when the price is high , causing the price to fall . And when the price is really low , you buy shares.   Other people then invest in shares, which causes the price to rise and when the price if high , you sell again.     And this cycle depends on new long term money coming into shares"

 

 

Edited February 7, 2018 by seancbk
changed can to can't

[Davedub]

Well, I am super glad, elated, joyous, thrilled, ecstatic and over the moon that I invested!

 

The technology is poised to create huge disruption to the already established, corrupt and generally unfair financial systems. The more I look into the old financial systems, the more parasitic I realise they are. They have been systematically siphoning off the wealth the rest of us have generated for centuries and they are currently more parasitic in nature than ever before.

 

The fact that the mainstream media has unleashed such a powerful anti-crypto campaign over the last month or two shows that there is genuine fear of losing control of money systems being expressed from the top (unless you are part of that rapidly shrinking group that believe financial institutions and their bought governments actually want to 'protect us'  - in which case I understand you cannot and will not be convinced of my points here - you may as well stop reading).

 

If the old systems had nothing to fear, there would not be all these threats of debilitating regulation and fear / uncertainty / doubt being incessantly published by the media; just check out the comparative coverage between the Wall street crash on Monday (nothing to worry about here, move along!) and the overzealous storm of articles on the recent crypto crash appearing every day for weeks now (it's all over, the bubble has burst and my personal favourite from The Guardian (UK) "Thinking of investing in Bitcoin - don't!")

 

So in 'protecting us with regulation' they diminish the value of our crypto investments. How is that protecting us?

So in 'informing us' they diminish the value of our crypto investments. How is that giving us useful information?

 

Time is up for the archaic systems that give so much benefit to the few and take away so much from the many. It's time to replace them with something explicitly designed to be for the benefit of us all.

Such huge changes will of course take a long time to come to fruition. I am proud to take part in it and I look forward to the journey. This is significant history in the making.

[Lacessit]

2 hours ago, Blackheart1916 said:

Can you point me to these investors? I would love a few tips from them!

Those investors with perfect timing are not going to give out tips to anyone. Quite amazing the number of gurus who claim to be good at investing willing to teach you their secrets. For a fee of course, and because they want everyone to share in their good fortune.

[Acemaker]

3 hours ago, bkk_mike said:

But I'm willing to bet, as we all are, that we wish we'd bought some a few years ago (and forgotten about it without misplacing the keys).

 

Remember the first transaction where something was bought with Bitcoin was a pizza for 1,000 bitcoin.

That's an expensive pizza.

 

As for the money laundering - it's actually a LOT easier to money launder with normal currencies than with Bitcoin. All bitcoin transactions are recorded, so if anyone ever links you to a wallet - they can be 100% certain that you did the transaction. You have to transfer it to some other crypto-currency (like Monero) that is designed not to be trackable.

Notice how the critics of Cryptos love to overlook the fact that the Stock Markets around the world have plummetted over the last few days, actually five times more than Bitcoin over the same time period, Banks , Governments, hate Cryptos,Banks paying you 1% per Annum, there is far more money laundering terrorist funding Drug money filtered thru normal Banking Channels than thru Cryptos, TRUE FACT ! Bitcoin and Cryptos are here to stay, i predict Bitcoin to be back up to the $18,000 by August, my advice HOLD DONT SELL, i am looking forward to the haters comments, LOL

[Acemaker]

5 hours ago, sammieuk1 said:

Back in the real world armature bitcoin investors must be feeling like a post brexit brit right now a mixture of oh god and kinal .

Excellent Video regarding Bitcoin so called crash !