Fear of missing out
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new_trader
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Not a clue!
This argument has been rendered obsolete since the introduction of Bitcoin futures contracts. Manipulation is generally employed to either 1) Keep prices artificially low so that the manipulator can accumulate or 2) To keep prices artificially high so that the manipulator can distribute.
In reference to number 2, don’t you find it even a little bit suspicious that Bitcoin made new highs just before futures contracts were introduced? Up to that point there has been no real way to short Bitcoin.
I've been talking anti-establishment in my trading journal for years...and you still don't own any crypto currency!?
Really? Here is a fact: Cryptos along with the digital age could not survive without good old-fashioned copper, gold & silver, but good old-fashioned copper, gold & silver have survived and would continue to be relevant without cryptos or the digital age.
Can you imagine in 20 years time, a woman walking into her workplace and announcing to her colleagues “He asked me to marry him” then holding out her hand to show off the nice shiny Bitcoin he put on her finger?
Can you imagine NASA announcing that thanks to bitcoin, they now have the materials they need to make a human mission to MARS a reality?
You need to do some serious research instead of regurgitating what you read on some anti-establishment websites.
This argument has been rendered obsolete since the introduction of Bitcoin futures contracts. Manipulation is generally employed to either 1) Keep prices artificially low so that the manipulator can accumulate or 2) To keep prices artificially high so that the manipulator can distribute.
In reference to number 2, don’t you find it even a little bit suspicious that Bitcoin made new highs just before futures contracts were introduced? Up to that point there has been no real way to short Bitcoin.
I've been talking anti-establishment in my trading journal for years...and you still don't own any crypto currency!?
Really? Here is a fact: Cryptos along with the digital age could not survive without good old-fashioned copper, gold & silver, but good old-fashioned copper, gold & silver have survived and would continue to be relevant without cryptos or the digital age.
Can you imagine in 20 years time, a woman walking into her workplace and announcing to her colleagues “He asked me to marry him” then holding out her hand to show off the nice shiny Bitcoin he put on her finger?
Can you imagine NASA announcing that thanks to bitcoin, they now have the materials they need to make a human mission to MARS a reality?
You need to do some serious research instead of regurgitating what you read on some anti-establishment websites.
darktone
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I read that article Tim but still hazy on the energy/$cost required purely to transact in Bitcoin. Aiu, miners are chasing the creation of Bitcoin and transaction fees, the guys running wallets/services etc are chasing transaction fees. Those guys put aside what does it actually 'cost' for the transaction to take place? Does it require a problem to be solved as per mining it for example, or is it simply numbers transfered from one account to another?
Might be worth distinguishing a difference between digital and the average crypto. The vast bulk of our current DBfiat could be described as digital.
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darktone
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Is a long read tar, and theres some valid points but is obviously written by someone with a very negative view of crypto, and a seemingly poor understanding of money.
'Governments no longer guarantee the exchangability of their currencies for gold, silver or other rare atomic elements. They instead issue "fiat" currencies, basically IOUs'
They dont, they have given that privilege to the banks. Just like the rest of us, the Government borrows its money.
'No, it's not a currency
To be viable as a currency, something must be both a medium of exchange and a store of value. These are mutually independent criteria: one cannot be satisfied from the other.'
By that description you could argue that fiat isnt a currency as its been a very poor in the 'store of value' department.
Perhaps if Bitcoin does nothing more than seed public interest in the subject of 'money', itll be a win of some sort and I might get a like from Oscar
cheesy:
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tar
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Is a long read tar, and theres some valid points but is obviously written by someone with a very negative view of crypto, and a seemingly poor understanding of money.
'Governments no longer guarantee the exchangability of their currencies for gold, silver or other rare atomic elements. They instead issue "fiat" currencies, basically IOUs'
They dont, they have given that privilege to the banks. Just like the rest of us, the Government borrows its money.
'No, it's not a currency
To be viable as a currency, something must be both a medium of exchange and a store of value. These are mutually independent criteria: one cannot be satisfied from the other.'
By that description you could argue that fiat isnt a currency as its been a very poor in the 'store of value' department.
Perhaps if Bitcoin does nothing more than seed public interest in the subject of 'money', itll be a win of some sort and I might get a like from Oscar
Fine by me , you want to call fiat a ponzi thats fine as well , and by all means dont store your wealth in fiat , i always tell peeps to invest and hedge in multiple assets and not to leave all their money in fiat .
But all of that doesn't validate the stance of bitcoin , its even irrelevant , if something is wrong that doesnt make the other option right by default .
darktone
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I wouldnt call the fiat we have now in its debt based form a ponzi scheme, perhaps a 'wealth transferal' or 'rent seeking' scheme, that transfers assets from the transactors to issuers.
"But all of that doesn't validate the stance of bitcoin , if something is wrong that doesnt make the other option right by default."
I agree
96% of WSJ economists say Bitcoin is a bubble [ http://www.forexlive.com/news/!/96-of-wsj-economists-say-bitcoin-is-a-bubble-00-20171218 ]
"If it looks like a duck, and quacks like a duck, it's a duck," said Diane Swonk, founder of consultancy DS Economics.
"The news of new highs seems to beget more action and a new high-a clear sign of a bubble," said Amy Crews Cutts, chief economist at credit-reporting agency Equifax.
"Now that deep envy has set in amongst those who do not own bitcoin it seems this mania can enter the final stage; one which can exist for quite some time before panic and crash come into play," said Constance Hunter, chief economist at accounting firm KPMG LLP."
but they don't know 5_h!t, here is a conspiracy theorist instead, he knows it all.
"If it looks like a duck, and quacks like a duck, it's a duck," said Diane Swonk, founder of consultancy DS Economics.
"The news of new highs seems to beget more action and a new high-a clear sign of a bubble," said Amy Crews Cutts, chief economist at credit-reporting agency Equifax.
"Now that deep envy has set in amongst those who do not own bitcoin it seems this mania can enter the final stage; one which can exist for quite some time before panic and crash come into play," said Constance Hunter, chief economist at accounting firm KPMG LLP."
but they don't know 5_h!t, here is a conspiracy theorist instead, he knows it all.
I actually wasn't gonna buy until i realized that all the mainstream media is labelling it a bubble.
Once they begin praising it and enciting ordinary folk to buy I will start changing bitcoins for other stores of value, e.g. property (obviously not fiat)
Once they begin praising it and enciting ordinary folk to buy I will start changing bitcoins for other stores of value, e.g. property (obviously not fiat)
counter_violent
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So your logic is to compare unrelated historical events where the outcome was unexpected for the vast majority. What exactly are the odds of any given event of significance resulting in an unexpected surprise? I bet you can't give a number on this but it's okay to use it as evidence to an argument. Wouldn't it be prudent to at least know your odds before throwing your weight behind it? You are basically expecting a given outcome without considering an alternative outcome.
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counter_violent
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Of course, fortune telling at its best. You seem to have experience in this department. Amazon crystal ball or argos?
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counter_violent
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As usual, the readers comment are the best part.
http://www.bbc.co.uk/news/business-42386893
Nocoiner:
A Nocoiner is a person who has no Bitcoin. Nocoiners (usually Socialists, Lawyers or MBA Economists ) are people who missed their opportunity to buy Bitcoin at a low price because they thought it was a scam, and who is now bitter at having missed out. The nocoiner takes out his or her bitterness on Bitcoin Holders, by constantly claiming that Bitcoin will crash, is a scam, a bubble.
http://www.bbc.co.uk/news/business-42386893
Nocoiner:
A Nocoiner is a person who has no Bitcoin. Nocoiners (usually Socialists, Lawyers or MBA Economists ) are people who missed their opportunity to buy Bitcoin at a low price because they thought it was a scam, and who is now bitter at having missed out. The nocoiner takes out his or her bitterness on Bitcoin Holders, by constantly claiming that Bitcoin will crash, is a scam, a bubble.
Wait wait.... Nope, nothing there, not even am ounce of regret or bitterness.
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Co-founder of Bitcoin.com sells all his Bitcoins, says it’s “as good as useless”
Emil Oldenburg cashes out
The Swedish co-founder at CO of bitcoin.com is out of the crypto currency which he called "virtually unusable" in an interview with the local press (translated version).
Oldenburg has lived in Tokyo for the past three years where he's received his salary in Bitcoin. Now, he said slow transaction speeds and high transaction costs have made him look elsewhere.
It's not a huge surprise given that he founded the site with "Bitcoin Jesus" Roger Ver in 2015. Ver has thrown his clout behind Bitcoin Cash.
"An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I've actually sold all my bitcoins recently and switched to bitcoin cash," he said.
"When I sold my BTC I had to pay 50 dollars and wait 12 hours for the transaction to go through because of this. It's completely unreasonable," he said.
His comments are likely why Bitcoin Cash jumped today.
(Source :Forexlive)
Emil Oldenburg cashes out
The Swedish co-founder at CO of bitcoin.com is out of the crypto currency which he called "virtually unusable" in an interview with the local press (translated version).
Oldenburg has lived in Tokyo for the past three years where he's received his salary in Bitcoin. Now, he said slow transaction speeds and high transaction costs have made him look elsewhere.
It's not a huge surprise given that he founded the site with "Bitcoin Jesus" Roger Ver in 2015. Ver has thrown his clout behind Bitcoin Cash.
"An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I've actually sold all my bitcoins recently and switched to bitcoin cash," he said.
"When I sold my BTC I had to pay 50 dollars and wait 12 hours for the transaction to go through because of this. It's completely unreasonable," he said.
His comments are likely why Bitcoin Cash jumped today.
(Source :Forexlive)
Quantt
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How many coins do you have?
counter_violent
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None.
Not sure how many times I have to say "working on strategies" but i'll get involved when all prep work done and not before.
Quantt
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