What are your thoughts on BitCoin?

[Archbob]

I'm talking about making fun of people who lose lots of money.

As long as they can laugh at you when they make a lot of money and you don't.

 

[Archbob]

<SNIP>

Which one should I sink a couple of hundred bucks into?

Moderator Action: Drug humor is not permitted at CFC. ~LM

 

[Narz]

If your strategy was basically to make money by dumb luck, then yeah, that deserves to be mocked. Being "right" is kind of hollow when being "right" was based on a guess. Just don't guess wrong on when the whole thing is going to come crashing down.

I have no use for speculative investing.

Lol, you mock and I'll enjoy my extra $45,000, good deal

Everything in investing is a guess, if you knew for sure you'd be committing a crime.

 

[Archbob]

<SNIP>

Which one should I sink a couple of hundred bucks into?

Moderator Action: Drug humor is not permitted at CFC. ~LM

See this is where Mods have a serious lack of knowledge. Potcoin, Hempcoin, Dopecoin are actual things and have large potential to grow 10x to 100x in the next year. This was a serious post, not "drug humor".

Moderator Action: PDMA is also not acceptable. Do not quote moderator text. If you have an issue with my mod note, please take it up with me in PM. ~LM

 

[metalhead]

Lol, you mock and I'll enjoy my extra $45,000, good deal

Everything in investing is a guess, if you knew for sure you'd be committing a crime.

I hope you do! All I'm saying is that guessing right on Bitcoin doesn't make one a smart investor. Getting out now was almost certainly smart, though. It's at the point where volatility seems to say it could crash at any

 

[Moriarte]

I currently have Golem and Vertcoin on my radar, and a tiny symbolic investment of few bucks in these two. First one is attempting to accomplish decentralised supercomputer, with golem tokens as means of payment for decentr. rendering (and similar) services. Second one is low cap mineable currency, with quite a mix of bells and whistles, like stealth addresses, lightning network, atomic crosschain and developers' pledge to battle centralisation till their last breath.

 

[Zkribbler]

Today was quite the slide, but I'm pretty sure it'll be back up over what it was after the new year.

its price collapsing from the dizzying heights of nearly $20,000 (£14,965) earlier this week to about $13,000 after its year-end rally appeared to run out of steam. According to the CoinDesk exchange, the cryptocurrency was trading at $13,155, a fall of over 30% in five days ...

 

[Kozmos]

I currently have Golem and Vertcoin on my radar, and a tiny symbolic investment of few bucks in these two. First one is attempting to accomplish decentralised supercomputer, with golem tokens as means of payment for decentr. rendering (and similar) services. Second one is low cap mineable currency, with quite a mix of bells and whistles, like stealth addresses, lightning network, atomic crosschain and developers' pledge to battle centralisation till their last breath.

Isn't EOS trying to do something similar? (in regards to Golem)

 

[Archbob]

Litecoin is coming out with a paycard in Feb, could be huge.

 

[Narz]

I hope you do! All I'm saying is that guessing right on Bitcoin doesn't make one a smart investor. Getting out now was almost certainly smart, though. It's at the point where volatility seems to say it could crash at any

Investors are pretty confident, most of my friends bought more at the low points. I got a few more litecoins.

These crashes have happened before and I've always regretting prematurely pulling out

 

[Narz]

These crashes are the best time to make money, should've bought ltc at $180 and etherium at $500. Panicking scares off the wishy-washy and drives the price down before the inevitable bounceback. Starting to notice the patterns, it's hard to know exactly when the low is of course.

It's also nice I've already cashed out quite a bit to USD's so even in the off chance it all goes to **** I've still made money, any additional is icing

 

[Commodore]

Just read an article that Coinbase shut down trading as the price of Bitcoin fell. Coinbase said it was due to technical difficulties caused by the high volume of transactions, but a lot of people aren't buying it. Some are now accusing Coinbase of manipulating the market. Their evidence is the fact that Coinbase has never shut down trading while the price of Bitcoin kept going up, but they have shut down trading several times now as the price started to fall.

It's almost like they are trying to prevent Bitcoin from crashing completely. Money makes people do weird things...

 

[Narz]

There was a fishy super drop and super spike in the price of bitcoin cash, from $2800 to $1400 and back to $2800 in the span of 10 minutes, someone made a ****ton of money right there.

I don't think bitcoin is "crashing completely" anytime soon, too many people heavily invested.

 

[Commodore]

I don't think bitcoin is "crashing completely" anytime soon, too many people heavily invested.

Of course it's not going to crash completely when you have the exchanges manipulating the market by freezing transactions and shutting down trading when the price starts to nosedive.

from $2800 to $1400 and back to $2800 in the span of 10 minutes, someone made a ****ton of money right there.

Probably North Korea. I'm not joking either. I read yesterday that there is strong evidence to support the claim that Bitcoin has been rallying lately because the North Korean government is trying to use it as a means to fund their government and get around sanctions. They have noted that the same North Korean hacking group that was responsible for the cyberattack on Sony has been engaging in some suspicious activity regarding Bitcoin in an attempt to drive the price up so they can cash in big later on.

 

[Narz]

Cool theories bro

 

[Moriarte]

Of course it's not going to crash completely when you have the exchanges manipulating the market by freezing transactions and shutting down trading when the price starts to nosedive.

It's a tactic cryptomarkets choose to inherit from classic exchanges. Not too many people desire a bloodbath.

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/24/AR2008102403484.html
http://business.rediff.com/slide-show/2009/may/18/slide-show-1-sensex-rockets-on-upa-victory.htm

Besides that, it could be new and fragile cryptomarkets still keep running into infrastructural problems.

 

[metalhead]

I don't think bitcoin is "crashing completely" anytime soon, too many people heavily invested.

That's exactly what causes crashes. People who are heavily invested decide to cash out, and then the broader base of investors cashes out in a panic when the price drops.

Volatility like we're seeing now means there isn't consensus yet on whether the top has come, but it's a good indicator that the crash is near. Investors are only going to tolerate so much volatility and risk.

 

[Narz]

Volatility like we're seeing now means there isn't consensus yet on whether the top has come, but it's a good indicator that the crash is near. Investors are only going to tolerate so much volatility and risk.

Lol, you are aware it's been voilatile for years now and every time there's a major up & down like this the chicken littles say the end is near (and never seem to tire of being wrong), they're like a woman who keeps saying "I'm almost there" <snip>, God I know it'll feel good to you guys when it finally crashes but I wouldn't hold your breath

Moderator Action: Please don't make sexually explicit comments like this on the forums. Content removed. -- Lemon

 

[Narz]

It's a tactic cryptomarkets choose to inherit from classic exchanges. Not too many people desire a bloodbath.

I have no doubt crypto exchanges are corrupt, just like every other thing ever in history where tons of money is being made

 

[Archbob]

Nah, Coinbase has shut down before when it was skyrocketing, the Blockchain basically just dies because it can't handle it.