Bitcoins

[fullyautomatix]

The price is now 10k$ compared to 20k$ a few weeks back. Is this a crash or just a minor irritation before it goes back to 100k$?

[FrontEnder]

we've got a 300 odd page thread already you know

[_V_]

If you believe blockchain will cure cancer, take us to other planets, bring World peace and fix Brexit, then it's a once in a lifetime buying opportunity.

If on the other hand you think it's another dot com esque hype over reality money pit, it's sell sell sell time!

I can see the price halving again from here, so personally I'm not putting too much into buying at this point.

[fullyautomatix]

we've got a 300 odd page thread already you know

But that is dominated by Scooter who is biased in his opinions on bitcoins and is mainly advocating pump and dump in order to maximise his profits.

I want a reasoned and helpful discussion on the price movements, hence the new shiny thread.

[FrontEnder]

But that is dominated by Scooter who is biased in his opinions on bitcoins and is mainly advocating pump and dump in order to maximise his profits.

I want a reasoned and helpful discussion on the price movements, hence the new shiny thread.

It's not at all, there's loads of regular contributors. Scooter will probably be along to talk about it here anyway...

[mattfx]

What!? Did you not read around page 280ish when MilanBenes got involved? That thread is not at all biased if you can be bothered to go through the history / have been monitoring it for some time.

I was initially very crypto skeptic but having read a) that thread and b) talked to some IRL friends who have been doing it on the down low and not telling anyone, I'm happy to say I think what Scooter is saying is totally legit.

You cannot argue with the patterns so far year on year with what the currency seems to do at this time of year, for whatever reason.

[stek]

But that is dominated by Scooter who is biased in his opinions on bitcoins and is mainly advocating pump and dump in order to maximise his profits.

I want a reasoned and helpful discussion on the price movements, hence the new shiny thread.

I did that this morning in the *disableds, a numero one on the Bristol Stool chart...

*best 4G signal, important criteria in trap choice.

[ChimpMaster]

Next stop is $4k, which would be an 80% retracement and will signal a Buy.

[tomtomagain]

I want a reasoned and helpful discussion on the price movements, hence the new shiny thread.

Reasoned debate? On CUk?

My short-term view :

That there is clearly very little "real" value in a Crypto currency, so even at $10k it is still more than likely to be 99.9% overvalued.

The prices are manipulated as there is no oversight and no regulation and no institutions that would step in to stabilise the price.

The "MarketCap" figures bounded around are completely misleading. Measured in the billions, but of course, billions of real currency have not gone into the system and if even a relatively small portion of people try to and exit then the price could go to zero very, very quickly.

For those of us old enough to remember, the parallels with the DotCom era are uncanny. Lots of people being sucked into trading for the first time, sounding off in an echo chamber about how this time it is different, looking at charts and trying to predict the future.

There are too many currencies with not enough differentiating them. The world might need a few it doesn't need a 100. Out of all the dotcom shares, a large proportion lost 99.9% of their value and never recovered. Would you have spotted Amazon in amongst all the others in '99 or would you have bought boo.com or webvan?

For all this and more, Crypto is one boat I am happy to miss.

Longer-term View :

After the DotCom boom the internet did not go away and I don't think that Crypto will go away either.

The technology is clever but needs to improve and I don't think we've found the right "use-case" for it yet, but someone will.

In a few years time we will all be spending crypto currency without a second thought, after all, once-upon-a-time people laughed when you had a mobile phone with a camera ( why would you want that?? ) and fell off the chair in hysterics at the thought of mobile-internet ... these same people are now glued to their iPhones face-timing their grandchildren.

[Eirikur]

Crypto currency is totally useless and really shouldn't be called a currency. It's more a game or betting mechanism.
No one accepts it as the risk is too high, tomorrow it might be worth 50% less, and no one wants to pay with it as the risk is too high, tomorrow it could be worth 50% more.