• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Cryptocurrency

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    My god things are taking a while to turn. I'm starting to lose faith that we'll get a very good run again for a number of years.

    If the retail investors are not buying and there nothing solid on the institutional side then where's the pump coming from?

    It's gonna take something major to get things back where I'd like them. Can easily see another 3-6 months of sideways / sliding prices.

    Comment


      Imagine watching your ISA every day with this attitude

      Admittedly the first 6 months of this year have indeed been tough. However you'll be rewarded if you just hold. Retail investors account for $750b market capital at most, that's as far as they can push it. Institutional investors will push that number by several multiples.

      Did you watch that PBC video? PM me if not.

      I never thought we'd see $6k again but hey ho. I couldn't have gone short anyhow or I'd have jeopardised my tax position.
      "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

      Comment


        There's still a significant barrier to entry for the public to invest, and what feels like manipulation in keeping it that way, what with many credit card providers blocking crypto purchases making it harder to get from FIAT to crypto, and now Apple clamping down on crypto apps.

        Headline says mining but in the blerb it mentions payments.

        https://www.theregister.co.uk/2018/0...ryptocurrency/

        Apple has revised its App Store rules to place restrictions on cryptocurrency mining, storage and payment across apps it distributes.
        As for institutional investors I'm not sure I see them piling into bitcoin or any other existing coin, they'd want to have better control of the supply and would be wary of government legislation banning or clamping down after the bankers have lobbied for protection. So a pact between financial organisations, banks, and governments to control a new bitcoin clone seems more likely. They get to keep the power and control if FIAT does get replaced with digital currencies. Can't have the plebs in charge when there are taxes to pay and vested interests to keep happy.

        The world's governments could ban bitcoin tomorrow on the pretence of saving the planet due to the high electricity demand for mining it, then roll out their own low fee alternative.
        Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

        Comment


          Originally posted by Hobosapien View Post
          There's still a significant barrier to entry for the public to invest,
          Only where you see them. Anyway retail investment has reached its limit. In the months ahead millions of us will be invested in crypto without even knowing it. Whether it is through their pension products or banking services. You really need to watch:

          https://www.bloomberg.com/news/video...rrencies-video


          Originally posted by Hobosapien View Post


          As for institutional investors I'm not sure I see them piling into bitcoin or any other existing coin, they'd want to have better control of the supply
          Banks don't want control, they want returns.

          Since the beginning of this thread I've said central banks will be giving up some control of monitory policy whether the like it or not. This year will be defining in that regard and there's nothing they can do about it.
          "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

          Comment


            I invite you all to go and look at the charts for BTC/USD and ETH/USD for the past 2-3 years. You will see there is a trend that both currencies rally in April/May, have a fairly large dip in late May early June, a few peaks and troughs all the way through June to August where things start heating up. Everyone has been saying Q3 has been the one to watch and that's when the big institutes are apprently looking to buy in. You don't need any paid for newsletters / indicators to find that info, you just need to read.

            Every time an exchange is hacked the market reacts badly for 3-5 days and then gradually recovers. This is perfectly normal and has been observed many times before. The recent cause of the dip was another Korean Exchange being done over, an attack probably orchestrated by someone already holding a ton of BTC so he/she can buy a load more for cheap.

            I believe in the tech as Scooter does and although I am not quite as bullish as he is, I do believe that doubling or tripling up this year is a strong possibility.

            Hold (or buy some mining gear, then you have intrinsic value in the equipment which you can sell after you've made some dosh with the coins and you are almost guaranteed a profit)

            Comment


              So if you have that much faith in past performance history did you "sell in May and go away"?
              Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

              Comment


                Indeed - past performance must be taken with a pinch of salt. Especially now as this asset class begins to transition from a retail to institutional market.
                "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                Comment


                  Originally posted by scooterscot View Post
                  Indeed - past performance must be taken with a pinch of salt. Especially now as this asset class begins to transition from a retail to institutional market.
                  It will be different this time.

                  Comment


                    ETC is on the rise.

                    Coinbase is adding Ethereum Classic - Business Insider

                    Comment


                      Originally posted by mattfx View Post

                      Every time an exchange is hacked the market reacts badly for 3-5 days and then gradually recovers. This is perfectly normal and has been observed many times before. The recent cause of the dip was another Korean Exchange being done over, an attack probably orchestrated by someone already holding a ton of BTC so he/she can buy a load more for cheap.
                      I don't buy that a $30B drop is because of some unknown exchange getting hacked. No idea why it dropped but I don't think this is the reason.

                      Comment

                      Working...
                      X