Cryptocurrency mega-thread

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YippeeYiYeo said:
sold for a loss? Oh dear.
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I can buy more now with less money. This is good, right?

So I can sell at a 20c/coin loss and a week later buy even more with the lower cash balance.

If someone is going to buy my car today and a month later sell it back to me in the exact same condition at half the price they paid, why would I not do that deal?
 
Chief said:
I can buy more now with less money. This is good, right?

So I can sell at a 20c/coin loss and a week later buy even more with the lower cash balance.

If someone is going to buy my car today and a month later sell it back to me in the exact same condition at half the price they paid, why would I not do that deal?
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you invested in crypto because you lost a bet, the price went down, you sold at a loss, with no intention to invest again because you dont believe in crypto. Thats a loss. Unless you do reinvest now which goes against what you believe. Up to you.

Anyway for the doubters:
https://www.ccn.com/blockchain-technology-officially-enters-the-oil-and-gas-industry-with-ondiflo/

Its just the beginning.
 

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maryjames said:
So many losers out there lol
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theres definitely people who fear crypto. People who are financially content with their situation and dont want change. People with huge superannuation accounts that dont want to lose value to crypto. People whose livelihood is directly tied to banks and the current finanical system. They dont want to rock the boat because to them they are already happy and dont want anything that could destabilize their life. Blockchain tech is getting applied to almost every kind of data that involves a PC. So it makes sense that Chief doesnt want anything to change. Its just more work and/or a threat to this website. Zuckerberg took all ads for crypto off Facebook not because he wants to protect people on Facebook about dodgy ICO's, but because crypto is threatening his business. For the first time in years Zuckerberg is behind the 8-ball.

2018 is the year that many cryptos that dont have a working product are going to have a service that people can use, and the people threatened by this tech will be getting more and more defensive using whatever platform they have to denounce blockchains capabilities. Unfortunately for them the development of this space will continue pushing forward and they will either adapt or get left behind.
 
YippeeYiYeo said:
you invested in crypto because you lost a bet, the price went down, you sold at a loss, with no intention to invest again because you dont believe in crypto. Thats a loss. Unless you do reinvest now which goes against what you believe. Up to you.

Anyway for the doubters:
https://www.ccn.com/blockchain-technology-officially-enters-the-oil-and-gas-industry-with-ondiflo/

Its just the beginning.
Click to expand...

You’re not listening.

Purchasing crypto was the bad bet.

I purchased it to troll a mate for a specific reason, which I won’t go into here as he is my mate.

As the troll got more expensive I sold, not wanting to lose all of the $500 on a silly joke.

Good luck to anyone who won the crypto currency lottery. Well done. But this is like one of those times where you play a bad hand in poker, and win against the odds. It’s still bad play. Do it every hand and you will lose.

I don’t know how many of you lived through the dot com bubble, but this looks exactly like it, just in a compressed time period and without regulation against market manipulation.

Discuss away, don’t think that I think my opinion is fact.

But one thing I do know is that technical analysis or “charting” is essentially astrology. Don’t do it. Look at the technology, the people, the fundamentals, the market they operate in.

No crypto has any fundamentals. They are all failing to solve the problems they claim to exist to solve. They are collectible Beanie Babies. Cabbage Patch dolls. eBay shares in 2005. Lehman Brothers shares in 2007.

But best of luck. I can’t predict the future so you may well own the world in a year.

I will spread my remaining money evenly among the most popular cryptos simply because I fear looking stupid if it takes off and everyone’s rich but me.

Because I am a dumb monkey-animal like everyone else.
 
Scotland said:
LOL.

It genuinely baffles me how many people hooked on cryptos don't even have a basic understanding of economics let alone cryptos. What's the transaction speed of BTC again, it's super fast isn't it?

I tagged Chief because he's one of the few posters with a balanced viewpoint.
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I've got a balanced viewpoint Huckleberry, and I replied to your post.
 
Chief said:
I don’t know how many of you lived through the dot com bubble, but this looks exactly like it, just in a compressed time period and without regulation against market manipulation.
Click to expand...

Hang on... so... not much like it at all then?

"This chick looks just like this bloke, just without the beard, male testosterone and penis."

One thing <> the other just because it "looks (vaguely) like it".

Hell, I could get a quick one off the wrist from some "girl" down Kings Cross way and it sure might "feel like" it's a woman but in all likelihood it ain't.
 
I'm only investing what I'm prepared to lose,which is not a great deal....At the end of the day I'd prefer to say,I had little crack but it wasn't to be,compared to I just cost myself a fortune of a life time by not having a little crack...
 
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Chief said:
The same just more exaggerated and with fewer regulatory safeguards.

https://en.m.wikipedia.org/wiki/Irrational_exuberance


On iPhone using BigFooty.com mobile app
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There are cetainly similarities, a lot of differences, but some similarities, and look where we are today because of it. Look at the current price of the nasdaq, and look at the names of companies that came out the other side. Once that bubble popped people certainly didn't stop using computers and give up on the internet. Life now revolves around what was being speculated on and developed during that time.
 
Pea Nut said:
There are cetainly similarities, a lot of differences, but some similarities, and look where we are today because of it. Look at the current price of the nasdaq, and look at the names of companies that came out the other side. Once that bubble popped people certainly didn't stop using computers and give up on the internet. Life now revolves around what was being speculated on and developed during that time.
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And people still lost their retirement savings.


On iPhone using BigFooty.com mobile app
 

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Chief said:
You’re not listening.

Purchasing crypto was the bad bet.

I purchased it to troll a mate for a specific reason, which I won’t go into here as he is my mate.

As the troll got more expensive I sold, not wanting to lose all of the $500 on a silly joke.

Good luck to anyone who won the crypto currency lottery. Well done. But this is like one of those times where you play a bad hand in poker, and win against the odds. It’s still bad play. Do it every hand and you will lose.

I don’t know how many of you lived through the dot com bubble, but this looks exactly like it, just in a compressed time period and without regulation against market manipulation.

Discuss away, don’t think that I think my opinion is fact.

But one thing I do know is that technical analysis or “charting” is essentially astrology. Don’t do it. Look at the technology, the people, the fundamentals, the market they operate in.

No crypto has any fundamentals. They are all failing to solve the problems they claim to exist to solve. They are collectible Beanie Babies. Cabbage Patch dolls. eBay shares in 2005. Lehman Brothers shares in 2007.

But best of luck. I can’t predict the future so you may well own the world in a year.

I will spread my remaining money evenly among the most popular cryptos simply because I fear looking stupid if it takes off and everyone’s rich but me.

Because I am a dumb monkey-animal like everyone else.
Click to expand...
Fair enough that you think its a dot com bubble fate. Its an easy comparison to make. And i agree that of the 1500 odd cryptos currently that in a few years less than half will still be around. But crypto survived huge crashes already, and we have just gone through a correction from 830b to 270b which is close to 70%. But it hasnt gone away. Its survived a 94% crash 7 years ago. You have to admit that with its been very resilient.

Disagree that technical charting is astrology. Right now in crypto with the extremely volatile market the RSI, MACD, MA's arent as effective because whales can send the price of any crypto wherever they want. But they are still effective.

Out of curiosity, what other cryptos did you spread it across?
 
Chief said:
And people still lost their retirement savings.


On iPhone using BigFooty.com mobile app
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People in crypto have already lost their life savings to Bitconnect. But if you blindly put your money into something without doing proper research that fool and their money...
 
Chief said:
And people still lost their retirement savings.


On iPhone using BigFooty.com mobile app
Click to expand...
On the back of what ?? Who were the driving forces in the dot com bubble ?? You can also mount a very strong case that the stock market is currently a bubble just waiting to pop. And there will be blood on the streets and people losing retirement savings once that happens.
 
Chief said:
You’re not listening.

Purchasing crypto was the bad bet.

I purchased it to troll a mate for a specific reason, which I won’t go into here as he is my mate.

As the troll got more expensive I sold, not wanting to lose all of the $500 on a silly joke.

Good luck to anyone who won the crypto currency lottery. Well done. But this is like one of those times where you play a bad hand in poker, and win against the odds. It’s still bad play. Do it every hand and you will lose.

I don’t know how many of you lived through the dot com bubble, but this looks exactly like it, just in a compressed time period and without regulation against market manipulation.

Discuss away, don’t think that I think my opinion is fact.

But one thing I do know is that technical analysis or “charting” is essentially astrology. Don’t do it. Look at the technology, the people, the fundamentals, the market they operate in.

No crypto has any fundamentals. They are all failing to solve the problems they claim to exist to solve. They are collectible Beanie Babies. Cabbage Patch dolls. eBay shares in 2005. Lehman Brothers shares in 2007.

But best of luck. I can’t predict the future so you may well own the world in a year.

I will spread my remaining money evenly among the most popular cryptos simply because I fear looking stupid if it takes off and everyone’s rich but me.

Because I am a dumb monkey-animal like everyone else.
Click to expand...

Not true. As I’ve repeatedly been saying ITT, the ones who will thrive are the ones who utilise the real benefit here - blockchain technology - in the real world and have a usable and needed product or service based around it. Waltonchain for eg is exactly that. The currency is secondary. Not all cryptos are just magic internet money.
 
Chief said:
You’re not listening.

No crypto has any fundamentals. They are all failing to solve the problems they claim to exist to solve.
Click to expand...
Yeah because the internet was just a fad, re dot com bubble.

Spend less time painting miniature elves and fairies and more time researching what your potting. I've left the above quote so you know that what you have posted is absolute garbage.
 
Chubberson said:
Yeah because the internet was just a fad, re dot com bubble.

Spend less time painting miniature elves and fairies and more time researching what your potting. I've left the above quote so you know that what you have posted is absolute garbage.
Click to expand...

That is going to be a sweet bump in a few years time. Bookmark that one.
 
Duritz said:
Not true. As I’ve repeatedly been saying ITT, the ones who will thrive are the ones who utilise the real benefit here - blockchain technology - in the real world and have a usable and needed product or service based around it. Waltonchain for eg is exactly that. The currency is secondary. Not all cryptos are just magic internet money.
Click to expand...

The thing that I'm struggling with, is if the 'currency is secondary', why are we investing in the currency instead of the company itself, assuming that the company is 'primary'.

Whilst I've got a lot of skin in the crypto-game, I'm finding the 'revolution' hard to see.

The volatility of the coins makes no logical sense to me, but it does create an avenue to make money through trading.
 
Hey Duritz, should be a good buying opp for WTC , I just bought some, which usually means massive price drop where I’m then forced to double down!
 
Chubberson said:
Yeah because the internet was just a fad, re dot com bubble.

Spend less time painting miniature elves and fairies and more time researching what your potting. I've left the above quote so you know that what you have posted is absolute garbage.
Click to expand...

But it's FUN and makes me feels SPECIAL!! :'(
 
superfraser said:
The thing that I'm struggling with, is if the 'currency is secondary', why are we investing in the currency instead of the company itself, assuming that the company is 'primary'.

Whilst I've got a lot of skin in the crypto-game, I'm finding the 'revolution' hard to see.

The volatility of the coins makes no logical sense to me, but it does create an avenue to make money through trading.
Click to expand...

You invest in Walton (as an example) by buying their coins. Their coin is what people have to buy to use their business model so if their business grows, the demand for their coin grows which of course means it’s value goes up. As demand grows price rises.

The business model is primary, they have a product and a service they are/will provide, the coin is the medium.
 
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