Anyone still interested in bitcoins?

[speedtripler]

5 hours ago, lvr181 said:

Really? See post #28. Someone else also had 'similar' future thoughts. Talk is cheap. 

You should probably keep your money in a bank and "earn"  1% a year.... 

CryptoCurrency is not meant for everyone 

 

 

[rwdrwdrwd]

15 hours ago, lvr181 said:

From the internet:

 

Four Charts That Suggest Bitcoin Value Could Be At 10,000 USD Next ...

https://www.cryptocoinsnews.com/four-charts-suggest-bitcoin-value-10000-usd-next-...

      

Jun 27, 2014 - The Bitcoin chart in USD on a logarithmic scale suggest that Bitcoin value could be at 10000 USD next year.

 

And what happened in 2015? Just speculation! 

Funnily enough I first bought a few of them right at the peak in 2014. I actually started trying to buy some at 600 but had difficulty getting registered with the exchanges where I could buy them (due to lack of English language residency proof) on and ended up buying via localbitcoins almost exactly at the peak... thankfully I held on to them and despite the terrible start it's turned out to be the best investment I've made in the last 5 years. Also more than doubled the money I put into Ethereum and made a decent chunk on Litecoin.

Edited July 10, 2017 by rwdrwdrwd

[lvr181]

13 hours ago, rwdrwdrwd said:

Funnily enough I first bought a few of them right at the peak in 2014. I actually started trying to buy some at 600 but had difficulty getting registered with the exchanges where I could buy them (due to lack of English language residency proof) on and ended up buying via localbitcoins almost exactly at the peak... thankfully I held on to them and despite the terrible start it's turned out to be the best investment I've made in the last 5 years. Also more than doubled the money I put into Ethereum and made a decent chunk on Litecoin.

But always remember, there is no realised profit (or loss) until an asset is sold.

[janclaes47]

https://www.thestreet.com/story/14221197/1/bitcoin-bitten-by-the-bear-as-technical-battles-and-criminal-proceedings-keep-investors-on-edge.html?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

 

Bitcoin prices entered into bear market territory Tuesday as an embarrassing legal case kicked off in Japan and  experts continue to squabble over key changes to the cryptocurrency's infrastructure. 

 

Bitcoins were quoted at $2,320 each on the London Bitsmap exchange during Tuesday trading, a 21.3% decline from the all-time high of $2,954 reached on June 11. Bear markets are typically defined as a fall of 20% or more from a recent peak price.

[userabcd]

News from The Register yesterday.

 

Don't panic, but your Bitcoins may just vanish into the ether next month

Well, actually, do panic. A pending code change could bring a period of instability

[speedtripler]

3 hours ago, userabcd said:

News from The Register yesterday.

 

Don't panic, but your Bitcoins may just vanish into the ether next month

Well, actually, do panic. A pending code change could bring a period of instability

Trolls gonna troll.... 

[userabcd]

1 hour ago, speedtripler said:

Trolls gonna troll.... 

Nope, no troll.

 

Only referring to and posted a few lines from a news article headlined on the El Reg website yesterday about bitcoin.

[theguyfromanotherforum]

They are already manipulating chlorine atoms to create grids for more efficient memory chips. Wait till they can combine and manipulate atoms to create minerals. You bet your a$$ silver and gold can go to zero real fast. Silver is just a rock. 

ROFL, gold is just a rock, then what is Bitcoin?

Already there are a dozen alternative currencies on the "market" (well 900 to be exact).

I still don't see how can anything like Bitcoin be universally accepted. I actually think fiat money is a great concept. A slight devaluation over time which encourages investment and productivity.

[vaultdweller0013]

On 7/16/2017 at 9:30 PM, theguyfromanotherforum said:

 I actually think fiat money is a great concept. A slight devaluation over time which encourages investment and productivity.

 

 

This exactly. Its not perfect, but there are solid reasons why the big currencies are not pegged to gold.

 

I wish more people took the time to understand basic macroeconomics.

 

 

[speedtripler]

On 16/07/2017 at 8:30 AM, theguyfromanotherforum said:

 

 

ROFL, gold is just a rock, then what is Bitcoin?

Already there are a dozen alternative currencies on the "market" (well 900 to be exact).

I still don't see how can anything like Bitcoin be universally accepted. I actually think fiat money is a great concept. A slight devaluation over time which encourages investment and productivity.

 

 

 

Yeah, Not like the dollar has lost 97%+ of its purchasing power or anything... 

[davidst01]

On 7/10/2017 at 10:00 PM, rwdrwdrwd said:

Funnily enough I first bought a few of them right at the peak in 2014. I actually started trying to buy some at 600 but had difficulty getting registered with the exchanges where I could buy them (due to lack of English language residency proof) on and ended up buying via localbitcoins almost exactly at the peak... thankfully I held on to them and despite the terrible start it's turned out to be the best investment I've made in the last 5 years. Also more than doubled the money I put into Ethereum and made a decent chunk on Litecoin.

can you let us know how you did this ie getting registered and any way to avoid risks. Are you able to PM me? I could not seem to send you a PM as you dont  have the message button and perhaps thus dont want to be bothered by people like me. But if you can help that would be great

[Monomial]

On 7/17/2017 at 8:58 PM, vaultdweller0013 said:

This exactly. Its not perfect, but there are solid reasons why the big currencies are not pegged to gold.

 

I wish more people took the time to understand basic macroeconomics.

 

 

 

It is a mistake to believe people who are against fiat currencies don't understand economics. They do. The issue is that they do not share your religion of infinite growth on a finite planet.

 

When there are fewer and fewer productive assets left to invest in, all that inflated fiat currency goes flowing into "financial innovations". These are nothing more than complicated layers of investments on other financial instruments and derivatives, none of which have backing in the productive economy. They are awash in counterparty risk and are no longer encouraging investment, but encouraging speculation.

 

There *WERE* reasons why the big currencies were not pegged to gold. Those assumptions of growth are no longer valid. I often wish economists would try and understand basic physics. You can't incentivize someone to find something which isn't there, and only fools think it is our technology that has created our world. The reality is nothing more than our enhanced ability to exploit nature...a nature that we have effectively now destroyed.

 

Time will resolve this argument, and not to the betterment of fiat currencies. Cryptocurrencies have an opportunity to overthrow the existing fiat paradigm by basing their valuation on the actual economy, rather than the inflated economy that includes false financial instruments. An investment in a bank and an investment in a farm are no longer equivalent, no matter how much fiat proponents would try and tell you they are. One is productive, the other is parasitic.

 

 

[RowdyAlpha]

Silver will never go to a zero, value but Bitcoins can. Many smart asses lost their Bitcoins due to corrupt exchanges and theft but my silver in an insured safe deposit box is still there. There is a place for silver/gold and Eth or Bitcoins, don't write off anyone of these alternative investments and don't be a smart ass about your investments compared to others. Life has got a tendency to make one humble when it comes to investment. Be grateful when your investment does well and speak in humble ways about your success. 

In an ideal investment strategy you would buy a little bit of everything. As they say don't put all your eggs in 1 basket.

Sent from my MHA-L29 using Thailand Forum - Thaivisa mobile app

[vaultdweller0013]

18 minutes ago, Monomial said:

 

Cryptocurrencies have an opportunity to overthrow the existing fiat paradigm by basing their valuation on the actual economy, rather than the inflated economy that includes false financial instruments.

 

 

Care to explain this in more detail?

 

What specific advantage to cryptocurrencies have over other alternatives that would make them better suited to replace fiat currencies?

 

How can a cryptocurrency prevent the exact same "false financial instruments" from existing, but being denominated in the cryptocurrency instead of the fiat currency?

 

What exactly do you mean by a "valuation" if it replaces a fiat currency? That is, can you tell me what the current valuation of the USD is? (Do you mean exchange rate or count of the total in existence?) Further, what mechanism would cause this "valuation" to be based on the "actual economy" whereas it would not be for a fiat currency?

 

If you are really concerned about having your investments being tied to production, invest in a non-leveraged, broad based, low fee mutual fund. Why? You will be the part owner of the companies are actually contributing to the economy. It is non-leveraged, so the mutual fund has to own the actual shares in the company.

 

[Monomial]

2 hours ago, vaultdweller0013 said:

Care to explain this in more detail?

 

 

Actually, yes I would, but not quite yet. I am busy writing a white paper in support of a new crypto currency around exactly this idea.

 

Once it is published, I will be happy to come back here and report, but it is not yet ready for prime time.  The gist of it is however that the increasing financialization of fiat currencies means that only the educated and well off are able to take advantage of the complex nature of the instruments that exist in the system today. The values of national fiat currencies are becoming increasingly disconnected from the production systems they support, and for the 90% doing the real work the instruments you speak of are not easily accessible or understandable.

 

Hence, a new model is possible with crypto currencies that does away with the increasing financialization of an economy and promotes the real productive industries instead.

 

 

[theguyfromanotherforum]

 
Yeah, Not like the dollar has lost 97%+ of its purchasing power or anything... [emoji3]

Oops....time to read up on quantum computing.

Some obviously heavily invested Bitcoin guy theorised about the possibility of gold being mass produced via chamical manipulation.... something people have been hoping to do for thousands of years with no success to this day. However quantum computing is a Bitcoin killer and it's a real thing.

[HampiK]

Bitcoins have a very big disadantage. The normal persons can not figure out how to buy and trade them.

It's not the same as use cash or a credit card. And to be realistic the majority of the people not even make sure they store their cash good.. what will happen if all this people start to use bitcoins only? -- a great time for digital criminals!