Cryptocurrency

[scooterscot]

My waves wod up more than 100% since November 20th, just as I predicted. Woah.

[stonehenge]

on contra - contrarians are quite excited at the minute. The heard is looking away whilst I'm seeing many alt-coins looking like they are about to explode. Take my position on Factcom (FCT) as an example. Almost a 500% increase since the beginning of November. The current Satoshi value is more or less the same as it was in January. And it's just warming up. You'll all miss out on some serious gains remaining Bitcoin centric.

I'm not bothered about missing out. It was FOMO that got a lot of people into trouble a year ago.

I see BTC as a potential opportunity for a calculated gamble.

Buy low, sell high. Or better still, buy when there's blood on the streets. At the moment, there's not been enough blood letting. If it goes below $3000, I'll start accumulating small amounts. Patience is the name of the game.

[scooterscot]

I'm not bothered about missing out. It was FOMO that got a lot of people into trouble a year ago.

I see BTC as a potential opportunity for a calculated gamble.

Buy low, sell high. Or better still, buy when there's blood on the streets. At the moment, there's not been enough blood letting. If it goes below $3000, I'll start accumulating small amounts. Patience is the name of the game.

Dollar cost average in. Don't try and time the market. Not even Warren Buffet can time the market. No one can. At its very basic level people are going to be sending money over the internet in the coming years. Think about the future value of Bitcoin not the current. That's how good investors think, long term.

I still expect a weekly price <$3000. It might total panic sell down to $1100, but it'll be a day or two at most. If it does I've got cash waiting.

[FrontEnder]

Dollar cost average in. Don't try and time the market. Not even Warren Buffet can time the market. No one can. At its very basic level people are going to be sending money over the internet in the coming years. Think about the future value of Bitcoin not the current. That's how good investors think, long term.

I still expect a weekly price <$3000. It might total panic sell down to $1100, but it'll be a day or two at most. If it does I've got cash waiting.

No one can time the market, but you're going to try anyway?!

[Hobosapien]

Current prediction having analysed all the analysis: Bitcoin is doomed.

If the price crashes people lose interest when currently the main use of it is as a speculative investment. Blockchain's lack of scalability means it won't be used as a currency by more than a few anytime soon. Lightening and other solutions yet to be proven.

If the price soars the world's governments will clampdown on it in the name of saving the planet (but really saving FIAT they can manipulate at will), due to all the CO2 mining it produces (estimated to be equivalent to 1 million transatlantic flights per year ), which ramps up as the hashrate increases as more miners look to make money when the price soars. An inverted death spiral.

Solution: New crypto that doesn't use mining approach.
Problem: Governments will want to control it along with the banks, hence XRP.
Result: Perpetual war on alt currencies that drive it all underground and therefore remain only used by geeks.

[stonehenge]

Dollar cost average in.

Yep, that's what I intend to do.

[northernladuk]

Yep, that's what I intend to do.

We've kind of realised, with a ton of evidence to back it up, it's best to do the opposite of what Scooter says.

[stonehenge]

Current prediction having analysed all the analysis: Bitcoin is doomed.

You may be right, or you may be wrong.

I'm willing to wager a small sum on the off chance that it does another moon shot. By small, I'm talking around one BTC (c. £3k).

[Bean]

No one can time the market, but you're going to try anyway?!

he would still be cost averaging (very low), if he currently holds any.

HTH

[scooterscot]

Current prediction having analysed all the analysis: Bitcoin is doomed.

If the price crashes people lose interest when currently the main use of it is as a speculative investment. Blockchain's lack of scalability means it won't be used as a currency by more than a few anytime soon. Lightening and other solutions yet to be proven.

If the price soars the world's governments will clampdown on it in the name of saving the planet (but really saving FIAT they can manipulate at will), due to all the CO2 mining it produces (estimated to be equivalent to 1 million transatlantic flights per year ), which ramps up as the hashrate increases as more miners look to make money when the price soars. An inverted death spiral.

Solution: New crypto that doesn't use mining approach.
Problem: Governments will want to control it along with the banks, hence XRP.
Result: Perpetual war on alt currencies that drive it all underground and therefore remain only used by geeks.

Bitcoin annual Twh consumption is 28.67 , so currently more than 3 times more efficient than the global banking system.

Blockchains lack of scalability? That's a strength imo, unless you prefer printed funny money.

The world's governments are suddenly going to collaborate to clampdown on Bitcoin when they can't even agree how to treat tax evading giants like Amazon & Apple? MMmmmm okay.