BITCOIN as an alternative to regular currency

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Orixian
Posts: 61
Joined: Sun Sep 06, 2015 12:36 am

Wed Aug 30, 2017 9:25 pm

Euler wrote:
Wed Aug 30, 2017 4:15 pm
Everybody thinks they can get away with trading a bubble because they will get out in time. But nobody really knows when it will pop and when they try to sell nobody wants to buy and that;s why the decline is so precipitous, no buyers.
Id be willing to speculate that in this case the "mass awareness" that will drive the bubble to a new frenzy has yet to occur. Infact betting on this by buying alt coins is, in my opinion, the only prfoitable play left as everything seems incredibly overvalued now so im not certain that utility counts for anything.

Orixian
Posts: 61
Joined: Sun Sep 06, 2015 12:36 am

Wed Aug 30, 2017 9:38 pm

Dallas wrote:
Wed Aug 23, 2017 6:02 pm
Euler wrote:
Tue Aug 22, 2017 9:05 pm
Good documentary: -

https://www.netflix.com/title/80154500
Thanks for that, it was a interesting watch especially from the history perspective of how its got to were it now is
Best documentary out there. I liked the fact it didn't shy away from the negatives of bitcoin but also explained the genuinely positive things many of us hope blockchain technology could lead too. Id still recomend videos by Andreas Antonopoulos for more depth on the subject.

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megarain
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Mon Sep 04, 2017 12:59 pm

Cryptos off between 10-20%, on news China bank is prohibiting raising of capital, for new coins.

Will be interesting to see if its just the start of a major sell-off, or, an opportunity to buy the dip.

V tricky, and the more youtube videos I watch, the more confused I seem to become.

Happy to be on the sidelines.

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Euler
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Mon Sep 04, 2017 7:09 pm

A Trader So Secret They’re Only Known by a Number Just Made Over $200 Million in One Month

https://www.bloomberg.com/news/articles ... ium=social

An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month.

The only clue about this person or persons, beyond a virtual wallet with the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184, surfaced on a June 11 Instagram posting, in Bahasa, in which he or she (or they) (or somebody posing as them) boasted about the 413 percent profit accumulated earlier this year from ether, the digital money of the Ethereum blockchain.

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Euler
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Mon Sep 04, 2017 7:11 pm

Image

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ruthlessimon
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Wed Sep 13, 2017 5:36 pm

"Jaime Dimon, would fire 'in a second' anyone at the investment bank found to be trading in bitcoin. 'For two reasons: it’s against our rules, and they’re stupid. And both are dangerous.'”

Lol sure Dimon! If I'm a trader at JPMorgan, & I know my boss is about to hammer it publicly, the R:R is too good not to short it!

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workpeter
Posts: 165
Joined: Sat Jul 30, 2016 8:29 pm

Thu Sep 14, 2017 6:33 pm

so bitcoin is currently taking a beating because the Chinese government is putting its foot down. The question everyone should be asking is why now?

ec0n0mist
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Joined: Mon Dec 29, 2014 5:17 pm

Thu Sep 14, 2017 8:45 pm

workpeter wrote:
Thu Sep 14, 2017 6:33 pm
so bitcoin is currently taking a beating because the Chinese government is putting its foot down. The question everyone should be asking is why now?
They've been firing warning shots for some time now. As typical as it is of the way China goes about things, in this instance it actually seems they tried to avoid a hard landing to prevent all the mom and pop investors who are naively taking part in getting hurt. But it's likely that the craze has reached heights beyond tolerance thresholds and this is the point they deemed necessary to step in before every Tong, Dong and Hong piles their nest egg into this volatile beast.

The U.S probably want to do the same but likely coming up short with an obvious optimal solution

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workpeter
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Thu Sep 14, 2017 9:51 pm

Its a fair point, i read somewhere that something like 90% of bitcoin is traded by Chinese?

ec0n0mist
Posts: 51
Joined: Mon Dec 29, 2014 5:17 pm

Fri Sep 15, 2017 2:49 am

workpeter wrote:
Thu Sep 14, 2017 9:51 pm
Its a fair point, i read somewhere that something like 90% of bitcoin is traded by Chinese?
Yeah it was close to those levels about two years ago. Since then, South Korea and Japan have become major players. These days China account for approx 20% of global BTC mining & trading.

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