Discussion in 'The Lounge' started by FreshSoulL, Jan 9, 2018.
Crypto market is alive again after a major manipulation in the markets.
If it truly 'crashes' like I expect it to, I agree, plenty of people will be aiming to hold on in the hope of riding the bust but that would be an awful situation to be in.
If the bubble bursts because of one (or a combination) of the following:
- Governments regulate it out of value;
- Governments ban it;
- Banks regulate it out of value;
- Investors see crypto-currency crashing and panic and flood the markets; and/or
- Investors come to a conclusion that there is inherently no value in the currency and pull out to the point where it does not hold any value.
Then attempting to hold on or buy in to the dropping price would be like trying to catch a falling knife.
The other thing I've been thinking about lately is the lack of barriers to entry. There is essentially nothing stopping anyone from creating additional currencies and creating competition for bitcoin or any of the other existing currencies.
At least with a 'real' currency, you have the law behind you preventing anyone other than the reserve/central bank from printing cash and creating currency.
The only way I see any future for these currencies is if they accept significant regulation (read: huge costs and less privacy which is the main selling point of crypto currency) and if they are able to carve themselves out a market as a payment platform.
If anyone was smart enough to buy in before this became mainstream then they will have already made huge profits and hopefully are smart enough to sell out before people actually realise there is no value in the investment (however, I am sure history will repeat, people will get greedy and suffer the consequences).
A mate of mine owns a multi million dollar it company pretty clever dude posted this about bitcoin-
You have to be kidding me.. What is wrong with the world? Are we all that 'hyped up' about Bitcoin, that we are too stupid to actually read what we are buying?
Someone created a FAKE Initial Coin Offering (ICO), put up warnings NOT to buy the Coins and he still managed to sell $300,000.00 of coins due to people not know what they are doing, and or just wanting to get 'IN' on the Bitcoin 'trend
If you don't Invest on a daily / weekly basis, If you don't have a financial planner and if you don't understand BitCoin, please do me a favour and don't touch Bitcoin. It will endly badly for you, and you will lose money
https://uetoken.com/ This site, is very much proof of that!
I might set up a cryptocurrency and call it RERHS (rooster eggs & Rocking Horse Shit). Because once people realize what they are buying I'll feel satisfied that I didn't deceive them with the false information that they're buying something real.
that is all.
I just don't get it
don't worry, just stick with RVR and you will be alright
thanks to me
How can I ever repay you, let's hope we meat up one day !
I once bought 12k fifa points in a fit of rage early one morning and then cried myself to sleep.
It's pretty interesting your pretty much using computers to solve harder and harder mathematical problems adding to the blockchain. The longer it goes on the harder they get andbthe more time equipment and energy it takes unlock a Coin. A lot more to it than that but it's worth reading up about it. Individuals can't make money of mining theses days.
I might be more lost now haha.
However, I gave my housemate $15 to chuck in Ripple. I'm in the market haha.
So you’ve got yourself about 11 ripple at the moment.
I'm sick of everyone thinking it's easy just to pump your money into bit coin and get rich.
Sorry, but refer to the gods and clods talk Kyle gets from his dad in South park.
Not everyone can be a millionaire.
If we were all millionaires a loaf of bread would cost $2500
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