Genie Posted January 20, 2018 Share Posted January 20, 2018 22 hours ago, Stevo985 said: You can also use it to pretend you're a crypto millionaire by pretending you own 1000 BTC I spotted the app when some guy on my fb wall posted a screenshot of his £50k portfolio and I immediately realised it was bullshit. Link to comment Share on other sites More sharing options...
Genie Posted January 20, 2018 Share Posted January 20, 2018 7 hours ago, ender4 said: where is the best (safest, easiest and cheap) place to buy both FLIXX and ARK through buying BTC or ETC, and to keep holding it there on the exchange? Do you have BTC already? It’s very expensive to move from exchange to exchange. I tend to trade with ETH if I’m moving from one to another, much cheaper. Link to comment Share on other sites More sharing options...
ender4 Posted January 20, 2018 Share Posted January 20, 2018 6 hours ago, Genie said: Do you have BTC already? It’s very expensive to move from exchange to exchange. I tend to trade with ETH if I’m moving from one to another, much cheaper. I do have BTC held in Coinfloor exchange, but that’s for long term holding, so don’t want to use that for other currencies. So will be buying new ETH or BTC to convert to ARK, FLIXX and any other cryptos. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 20, 2018 Share Posted January 20, 2018 Loving the trend on bitcoin since mid December, hopefully this correction continues downward. Link to comment Share on other sites More sharing options...
PieFacE Posted January 20, 2018 Author VT Supporter Share Posted January 20, 2018 (edited) Edited January 20, 2018 by PieFacE 1 Link to comment Share on other sites More sharing options...
Genie Posted January 20, 2018 Share Posted January 20, 2018 2 hours ago, Dr_Pangloss said: Loving the trend on bitcoin since mid December, hopefully this correction continues downward. Why? Link to comment Share on other sites More sharing options...
Stevo985 Posted January 20, 2018 VT Supporter Share Posted January 20, 2018 2 hours ago, Genie said: Why? Have you read his posts? Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 21, 2018 Share Posted January 21, 2018 (edited) 13 hours ago, Genie said: Why? A couple of reasons, firstly because I predicted it (obviously I wasn't the only one!) and if I recall suggested it would happen on here and a lot of people would get burned. So I like being right. Secondly bitcoin has absolutely no social utility, it is nothing more than an outrageous speculative asset, and I don't like these kinds of asset classes and want to see them tank. The bottom line is that high frequency investing for people who have little clue about investing and/ or lack the resources to invest in asset classes that require significant monitoring daily (because they are so volatile) is going to end in tears 9 times out of 10. Edited January 21, 2018 by Dr_Pangloss Link to comment Share on other sites More sharing options...
Genie Posted January 21, 2018 Share Posted January 21, 2018 5 minutes ago, Dr_Pangloss said: A couple of reasons, firstly because I predicted it (obviously I wasn't the only one!) and if I recall suggested it would happen on here and a lot of people would get burned. So I like being right. Secondly bitcoin has absolutely no social utility, it is nothing more than an outrageous speculative asset, and I don't like these kinds of asset classes and want to see them tank. The bottom line is that high frequency investing for people who have little clue about investing and/ or lack the resources to invest in asset classes that require significant monitoring daily is going to end in tears 9 times out of 10. So you’d rather see people lose money they can’t afford just to prove your punt right. Ok. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 21, 2018 Share Posted January 21, 2018 1 minute ago, Genie said: So you’d rather see people lose money they can’t afford just to prove your punt right. Ok. They shouldn't be stupid enough to go into bitcoin with such leverage in the first place. Isn't the saying 'bet with your head, not over it'? Presumably the smarter people would have set aside some cash they can hypothetically afford to lose and have a flutter. For the ones you're talking about, well consider it a life lesson and in future they should understand better what it is they are doing. I find Bitcoin deeply unethical so the worse it performs the better. 1 Link to comment Share on other sites More sharing options...
omariqy Posted January 22, 2018 Share Posted January 22, 2018 Quite interested to see how the market performs over the next 3-6 months. For many people all they have experienced has been their money going up as they all followed the mania a few years ago and invested without knowing much about it, me included. Now things are a lot more volatile in terms of movements up and down it will be interesting to see how people behave and how many people continue to remain invested. Link to comment Share on other sites More sharing options...
Genie Posted January 22, 2018 Share Posted January 22, 2018 8 minutes ago, omariqy said: Quite interested to see how the market performs over the next 3-6 months. For many people all they have experienced has been their money going up as they all followed the mania a few years ago and invested without knowing much about it, me included. Now things are a lot more volatile in terms of movements up and down it will be interesting to see how people behave and how many people continue to remain invested. Yep, it’s very interesting times. I’ll sit tight for a bit now, I spent a bit more during this dip to top things up and I’m holding a small profit (couple hundred quid) as it stands but if FLIXX gets back to anywhere like it was I’ll have a few thousand just from that. Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 (edited) I think it will all be fine. What's happening now isn't anything that hasn't happened before. Still think Bitcoin will be $20k+ in Feb. Saw a Wall Street guy say it could fall 90% though. Interesting times indeed. (Don't see it, too many people waiting to buy in) https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html Quote 90% of bitcoin's value could get wiped out, Wall Street veteran Peter Boockvar warns Edited January 22, 2018 by PieFacE Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 22, 2018 Share Posted January 22, 2018 3 hours ago, omariqy said: Quite interested to see how the market performs over the next 3-6 months. For many people all they have experienced has been their money going up as they all followed the mania a few years ago and invested without knowing much about it, me included. Now things are a lot more volatile in terms of movements up and down it will be interesting to see how people behave and how many people continue to remain invested. When un-knowledgeable investors get scared they dump their stock, in turn knowledgeable people will react in kind (and probably will start selling off prior to this in anticipation of a sell off). So the only way is down. The fundamental problem with bitcoin is that it provides zero utility and has no fundamentals, it's 100% a speculative asset and is a completely lousy 'currency'. I just can't see how something like this can be sustainable long term. Link to comment Share on other sites More sharing options...
omariqy Posted January 22, 2018 Share Posted January 22, 2018 29 minutes ago, Dr_Pangloss said: When un-knowledgeable investors get scared they dump their stock, in turn knowledgeable people will react in kind (and probably will start selling off prior to this in anticipation of a sell off). So the only way is down. The fundamental problem with bitcoin is that it provides zero utility and has no fundamentals, it's 100% a speculative asset and is a completely lousy 'currency'. I just can't see how something like this can be sustainable long term. Yup I would agree with most of that. However, blockchain tech is here to stay and it is those companies that actually do something with that tech that will see the best long term investment imo. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 22, 2018 Share Posted January 22, 2018 26 minutes ago, omariqy said: Yup I would agree with most of that. However, blockchain tech is here to stay and it is those companies that actually do something with that tech that will see the best long term investment imo. This is true. Although for crypto-currencies to ever be taken seriously they will have to stabilise and correct downward, you simply can't have a currency that is so damn volatile, it will never work. Incidentally I'm seeing that the bitcoin panic has precipitated a run on gold, a sign of investors looking for safety. My investment in gold at the back end of 2015 is looking pretty good right now! 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 (edited) 1 hour ago, Dr_Pangloss said: When un-knowledgeable investors get scared they dump their stock, in turn knowledgeable people will react in kind (and probably will start selling off prior to this in anticipation of a sell off). So the only way is down. The fundamental problem with bitcoin is that it provides zero utility and has no fundamentals, it's 100% a speculative asset and is a completely lousy 'currency'. I just can't see how something like this can be sustainable long term. Why a lousy currency? FWIW I don't even view it as a currency. Edited January 22, 2018 by PieFacE Link to comment Share on other sites More sharing options...
omariqy Posted January 22, 2018 Share Posted January 22, 2018 Another terrible day for crypto today. We are in for a hell of a ride these next few months. Link to comment Share on other sites More sharing options...
PieFacE Posted January 22, 2018 Author VT Supporter Share Posted January 22, 2018 Down to $8.5k I think then another bounce, followed by a strong uptrend. My guess, based on nothing but guesswork. Link to comment Share on other sites More sharing options...
Dr_Pangloss Posted January 22, 2018 Share Posted January 22, 2018 (edited) 10 minutes ago, PieFacE said: Why a lousy currency? FWIW I don't even view it as a currency. Quite simply because it's 'value' is so volatile. Macroeconomics 101 speaking money is a store of wealth, a medium of exchange and a unit of account, it's volatility means it is a bad store of wealth and a unit of account. Edited January 22, 2018 by Dr_Pangloss Link to comment Share on other sites More sharing options...
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