Originally posted by scooterscot
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Cryptocurrency
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Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever. -
Originally posted by VirtualMonkey View Postbig jump. what's caused that?
In so doing they be different from every other blockchain out there."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Lance View Postthat 'maths' is inherently flawed as it starts with a rather LARGE assumption ------
"Let me assume that the reader agrees that there is some probability of a huge, fast enough, cataclysmic collapse of the Bitcoin price"
The assumption is based on the readers 'belief'of an impending crash. The rest can be relegated to mere bulltulip, as it relies on confirmation bias already held.
Sticking some lines a graph that meet that bias is BS.
Comparing Bitcoin to what has gone previously is deluded and naive at best. It might be a bubble but to compare it with historical bubbles that share no relationship other than high growth is BS.
Historical bubbles are all we really have to go on, unless one is naive enough to think crypto is somehow a magical asset-class that will break all conventional wisdoms, perceived and otherwise. It's worth remembering that crypto speculators are applying much the same techniques as speculators in other bubbles, so why would one expect a different outcome this time? To me, that seems like deluded thinking, rather than looking at historical parallels.
What I find fascinating is the double standards of the crypto 'investors' I personally know; the very same people who bemoaned the greed/lunacy of banking after the sub-prime crisis, are now the very same people applying the same thinking regarding their own crypto enthusiasms. Humans are funny, eh?Comment
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Originally posted by glebe digital View PostWhat I find fascinating is the double standards of the crypto 'investors' I personally know; the very same people who bemoaned the greed/lunacy of banking after the sub-prime crisis, are now the very same people applying the same thinking regarding their own crypto enthusiasms. Humans are funny, eh?
"The fundamental purpose of the cryptocurrency technology has been to offer privacy and independence from the traditional financial services and banking sector to the user community."
"payments to be sent directly from one party to another without going through a financial institution"
"cryptocurrency’ functions as a means of settling payments in a secure and irreversible manner, provided that people can be encouraged to accept the currencies as a means of payment."
however currently most of the cryptocurrency industry is driven by price movement greed - huge profits (or losses) can be made overnight by speculating on currency movements, multi-level marketing schemes and gambling, all unregulated and mostly untraceable.
Financial institutions are usually involved at both ends of the speculation, for depositing and withdrawing from/to fiat currency.Last edited by SunnyInHades; 24 November 2017, 10:12.Comment
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Originally posted by SunnyInHades View PostThe idealistic aims:
"The fundamental purpose of the cryptocurrency technology has been to offer privacy and independence from the traditional financial services and banking sector to the user community."
"payments to be sent directly from one party to another without going through a financial institution"
"cryptocurrency’ functions as a means of settling payments in a secure and irreversible manner, provided that people can be encouraged to accept the currencies as a means of payment."
however currently most of the cryptocurrency industry is driven by price movement greed - huge profits (or losses) can be made overnight by speculating on currency movements, multi-level marketing schemes and gambling, all unregulated and mostly untraceable.
Financial institutions are usually involved at both ends of the speculation, for depositing and withdrawing from/to fiat currency.
I was thinking about this last night and formulating a strategy for crypto allocation. Something along the lines of keeping 40% of the portfolio in BTC, 20% in ETH and the remaining 40% in alt coins and ICOs diversified into around 5-6 coins.
Same approach as stock/bonds but different markets. Also I'm really taking the time to learn the tech and read the white papers for the coins.
Right now the profits and movements are silly, I'm sure it won't be like this for too long so make hay I say...
Or don't and just post about how much of a bubble/scam etc it is while others make money - makes no difference to me, I'm up about 20% on the week.
Here's another idea for a strategy:
At what point of a position going against you do you get out? Do you have a stop loss and are you setting limit sell orders to execute it should it happen when you're not watching?"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon MuskComment
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Any thoughts on IOTA?
https://coinmarketcap.com/currencies/iota/#charts
Taken a hit recently, good time to buy?Comment
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Originally posted by scooterscot View Postbelieve rumour suggesting the network will transfer to the secure nodes by November 30th
In so doing they be different from every other blockchain out there.Rhyddid i lofnod psychocandy!!!!Comment
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Originally posted by Jog On View PostRight now the profits and movements are silly, I'm sure it won't be like this for too long so make hay I say...
Originally posted by Jog On View PostAt what point of a position going against you do you get out? Do you have a stop loss and are you setting limit sell orders to execute it should it happen when you're not watching?
I see greed a mile off now. Look at the charts, if you find yourself after a pump saying 'wow this is the one, it's going to the moon' then it's time to get out and hold in dollars or bitcoin and short.
You'll see this pattern every where:
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostMy strategy is frighteningly simple. 'Coin accumulation' - I accumulate coins, mostly alt-coins, with the idea I'll cash them in at a future bitcoin value.
Currently waiting for XLM to drop back down to about 450 and then I'm back in for the next pump having sold in the mid 500's.
All hail ScooterScotYour friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever.Comment
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In addition to crypto, I also have some 'traditional' UK investments.
"Over the past 20 years the FTSE 100 has risen at a rate of around 5.4% per annum, excluding fees, dividends and inflation"
Martin Lewis, MoneySavingExpert.com, 24 Nov 2017
Top Savings Accounts
Our best buys (Easy-access savings: allows withdrawals) ..
Tesco Bank – 1.2%, rising to 1.35% on 1 Dec
Paragon Bank – 1.31%
Birmingham Midshires – 1.3%
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