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| Tape Reader |
01-17-2018 05:26 PM |
Quote:
Originally Posted by thaskalos
(Post 2253286)
For the last month or so, well-meaning friends have been bombarding me with calls and text messages...telling me to stop wasting my time with this "gambling nonsense", and to get into cryptocurrencies...where "every horse wins". When this sort of "euphoria" becomes widespread about a particular type of investment...can a steep correction be far behind?
But I think people are now giving up on Bitcoin a bit too soon. Rough waters are to be anticipated when an investment-vehicle seeks to circumvent the vice-like grip of the banks that govern our world...because such a venture is sure to create some very powerful enemies.
After considerable study, I have become a believer of the cryptocurrency philosophy, and I consider this steep decline to be just a "shakeout manouver"...which seeks to scare the meek out of any long-term position in Bitcoin. In our world...the big profits aren't for the "feint-of-heart".
I see Bitcoin sinking to about $10,000...at which point I will jump onto the bandwagon in a big way myself...for the LONG term. The bible got it wrong...it's the BOLD who inherit the earth. :cool:
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Nice bounce off around 10,000 today. Was that you?
Good call ! |
| BIG49010 |
02-05-2018 02:22 PM |
Anyone nibbling here, or is it a falling knife?
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| PaceAdvantage |
02-05-2018 02:38 PM |
bitcoin was an early warning sign for the market itself, apparently...
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| BIG49010 |
02-05-2018 03:48 PM |
Some bottom fishing at 6,500 and moved back up after being down 20% today? That will probably establish a level of support?
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| BaffertsWig |
02-05-2018 05:05 PM |
Quote:
Originally Posted by BIG49010
(Post 2272489)
Anyone nibbling here, or is it a falling knife?
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Everything is on sale, I'm still on the sidelines. Have a small amount in alts that are obviously tanking. |
| AltonKelsey |
02-05-2018 10:06 PM |
Quote:
Originally Posted by PaceAdvantage
(Post 2272502)
bitcoin was an early warning sign for the market itself, apparently...
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nah, Tulips circa 1400's ?? was the first indicator . Then again, I hear they used to spike Myrrh futures in old Bethlehem when the mood struck |
| BIG49010 |
03-08-2018 10:49 PM |
Anyone looking at Bitcoin with this SEC related drop to 9000?
I read an interesting note, how perhaps Blackberry may hold many patients that are being violated by the Bitcoin people, but who would they go after?
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| LemonSoupKid |
03-09-2018 12:38 PM |
People are underestimating how the new generation will use it as a long play, it is settling, but still a strong buy around 8k, for sure.
Just on the basis of sportsbooks and exchanging money, it has huge utility.
After PASPA is overturned, that utility only gets greater.
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| BIG49010 |
03-14-2018 03:48 PM |
Decided to take a shot today with a small bet on BITCOIN, I bought the ETF GBTC for 14.40 a share / about 8340 was the BTC - USD.
See how it goes, but can't imagine much more bad news, and if we are pushing up against the 21 million total Bitcoins ceiling, we should go up!
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| JerryBoyle |
03-21-2018 11:53 PM |
Admittedly a bitcoin novice, but what if governments stop allowing companies to accept it as a form of payment? Could this not stop growth in market share as a form of currency? I believe a common argument is that they can't stop people from holding it/exchanging it for goods/services, but wouldn't preventing businesses from using it be a huge part of that market? Basically only used for peer-to-peer transactions and the black market?
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| AltonKelsey |
03-22-2018 01:21 PM |
Quote:
Originally Posted by JerryBoyle
(Post 2292755)
Admittedly a bitcoin novice, but what if governments stop allowing companies to accept it as a form of payment? Could this not stop growth in market share as a form of currency? I believe a common argument is that they can't stop people from holding it/exchanging it for goods/services, but wouldn't preventing businesses from using it be a huge part of that market? Basically only used for peer-to-peer transactions and the black market?
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What's the % of holdings that are used for actual purchases vs pure price speculation?
No way to know for sure, but I'd say less than 5%. Maybe way less |
| JerryBoyle |
03-22-2018 01:35 PM |
Quote:
Originally Posted by AltonKelsey
(Post 2292953)
What's the % of holdings that are used for actual purchases vs pure price speculation?
No way to know for sure, but I'd say less than 5%. Maybe way less
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At the end of the day won't it only have value if it can be used as a currency? If it's only used for price speculation then isn't it really just like the tulip bubble?
Are there other things that are traded for pure speculation and have no other value? I can't think of any off the top of my head |
| AltonKelsey |
03-22-2018 04:28 PM |
What value did a beanie baby have?
Folks get off on crypto, it makes them think they are new age or something.
The really stupid names they give them are a tipoff to the crowd that's at work here.
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| thaskalos |
04-18-2021 06:29 PM |
Quote:
Originally Posted by thaskalos
(Post 2253286)
For the last month or so, well-meaning friends have been bombarding me with calls and text messages...telling me to stop wasting my time with this "gambling nonsense", and to get into cryptocurrencies...where "every horse wins". When this sort of "euphoria" becomes widespread about a particular type of investment...can a steep correction be far behind?
But I think people are now giving up on Bitcoin a bit too soon. Rough waters are to be anticipated when an investment-vehicle seeks to circumvent the vice-like grip of the banks that govern our world...because such a venture is sure to create some very powerful enemies.
After considerable study, I have become a believer of the cryptocurrency philosophy, and I consider this steep decline to be just a "shakeout manouver"...which seeks to scare the meek out of any long-term position in Bitcoin. In our world...the big profits aren't for the "feint-of-heart".
I see Bitcoin sinking to about $10,000...at which point I will jump onto the bandwagon in a big way myself...for the LONG term. The bible got it wrong...it's the BOLD who inherit the earth. :cool:
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I rarely get the opportunity to blow my own horn on this board...but I think I will just this one time. Here is what I said here 3 years ago...and I can only hope that another person or two here heard me and followed my advice. |
| PaceAdvantage |
04-18-2021 07:02 PM |
Not bad....5x return on investment in only 3 years.
This deserves a "ReplayRandall"-like recognition thread, all its own.
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