Is Bitcoin the Next Big Thing?

[Edwin]

Or a swap for a different crypto currency by two big players? In other words, instead of trying to sell CoinX and buy CoinY, a deal was struck between two parties that wanted a bigger position in the respective currencies. CoinX owner got CoinY. CoinY owner got CoinX.

Should be possible to sniff that out if the trade was for a single block of currency, since there would be a broadly corresponding (dollar value) block of other crypto also moving.

 

[Edwin]

Or an off the book offshore asset swap (crypto gets swapped for stock in an offshore entity that itself owns something: property, a superyacht, etc.)

 

[martin-s]

Good read:
https://www.quora.com/In-what-ways-...to-the-first-tech-bubble/answer/Tim-Ventura-2

 

[Admin]

Good read:
https://www.quora.com/In-what-ways-...to-the-first-tech-bubble/answer/Tim-Ventura-2

Yep, good points. However, I still think its like the .com bubble or perhaps more accurately...the ICO craziness is VERY akin to the .com bubble.

 

[dee]

Good read:
https://www.quora.com/In-what-ways-...to-the-first-tech-bubble/answer/Tim-Ventura-2

Good read. Not quite sure what the eventual point is, but all pretty accurate I would have thought. It's definately a bit bit wild west at the moment, but the volatility makes it interesting.

I'm starting to notice his point about it being all fundamentals is slowly giving way to technical aspects. Support and resistance , fibonaccis etc are seem to be starting to take hold. With XRP anyway, which is the one im looking at most.

 

[Murray]

You guys give much weight to the thought Tether might crash crypto prices?

 

[DaveP]

You guys give much weight to the thought Tether might crash crypto prices?

I'd be very surprised if Iota and/or Tangle isn't the future. Read this https://ukcryptocurrency.com/iota/tangle-vs-blockchain/.

Tangle is far more advanced than blockchain. Quantum resistant and no fees whatsoever the two primary selling points.

 

[ausername]

The Cautious "bystanders" always wish they had after the Fact, Risk Takers Win big, Bitcoin\Risky investments is for the guys who wear the big pants were the big boys play, never attach yourself emotionally to an investment, entrepreneurial philosophy. For those who are skeptical keep watching and let those with teeth in the game ride the storm. Nothing is a sure thing all successful men take huge risks the cautions keep dreaming nothing is a sure thing in life but death. Invest now no brainer or watch history pass you by if you are only interested in the next bowl of soup then this is no playground for you. My opinion only.

Would be interested to know whether you are still "riding the storm" or needed to change your pants at any stage in the month since this post.... looks like people are struggling to withdraw cash from some exchanges today, that would be enough for me to release a pungent flurry of toxic brown sludge into my M&S boxer shorts.

Sellers of physical gold reporting huge sales days as people switch to conventional assets.

Interestingly my pension funds have all gone up about 3% in value over that same period, which is huge for a one month period, are people liquidating crypto and directing the cash to equities?

 

[ian]

I'd say not, money is likely staying within the exchanges, rather than being converted back to FIAT for acquiring conventional investments.

The Korean markets have had a huge impact, as has America (being America) trying to get their piece of the pie, and the usual January downtrend.

I know for me personally, I've invested money I DO NOT expect to get back out as FIAT, as I hope by then it will have significant value within mainstream crypto currencies.

Appreciate it isn't comparable, and one option is safer than the other, but in the last 12 months my SIPP has made 5% based upon my index fund investments; my crypto has made 1200% over just 2 months!

Still think it is important to have a significant percentage of your portfolio in conventional assets though.

 

[martin-s]

You need to work on your choice of SIPP investments Ian

 

[ausername]

Pretty sure both of my stakeholder managed pensions have outperformed your SIPP then Ian, think I've seen close to 10% from one of them over the past 12 months!

 

[ian]

All about the level of risk for specific products within my portfolio. I have other index led investments making more, but my sipp is more conservative. Not one for managed funds, too bias driven.

 

[Edwin]

Fascinating insight into group-organised crypto pump and dump scams...
https://theoutline.com/post/3074/inside-the-group-chats-where-people-pump-and-dump-cryptocurrency

 

[Murray]

Fascinating insight into group-organised crypto pump and dump scams...

I actually just watched a video about this

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[ian]

I actually just watched a video about this

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Doug is a decent example of a crypto youtuber; there are not many!

 

[Murray]

Doug is a decent example of a crypto youtuber; there are not many!

I've been watching his poker videos since he started pretty much, didn't realise he had also branched off into a crypto channel too until recently

I like that he adds some humour in his videos so they aren't too technical and heavy

 

[ian]

I've been watching his poker videos since he started pretty much, didn't realise he had also branched off into a crypto channel too until recently

I like that he adds some humour in his videos so they aren't too technical and heavy

Another great crypto youtuber in the same vain is Crypto Daily, very funny, but just a heads up, the last few videos haven't been that great because he's gone to LA (he's from England) for 2 months and is in the process of setting up his recording environment. Go back a few videos to get a sense of what he's like, he's my favourite.

 

[Edwin]

Bitcoin seems to have really stabilised in the last 7 days. No crazy swings (still crazy for a normal investment class, but not for crypto). I wonder why?

 

[websaway]

Market cap now 177 billion. Am I missing something again. The people who invested early and made billions take some of their money out every time the price of the Ponzi scheme rises. They then market the scheme aggressively and encourage new money so that when it rises they can take more of the profit from early investments. I am not very analytical so may well be way out but common sense seems to solidify my initial view that it's robbing Peter to pay Paul.

 

[Murray]

Market cap now 177 billion. Am I missing something again.

To me, Bitcoin does seem a bit pointless now

Very clear it's not going to be a currency because even if they introduce something to lower fee and speed up transfers, people want to hold it not spend it

Has become a virtual collectible with no purpose