Cryptocurrency have no intrinsic value so how the hell does this make sense I'm really surprise at some of the bs I read and hear from veterans. Last night I was at a restaurant having dinner with my wife and this woman sitting behind us was pitching 2 guys in there early 20s to buy Bitcoin at $75.00 and get 1% interest compounded per day with an option to cash out in a 140 days. I was tempted to call her out on her bs but the wife said let it go her words to me were the "the game didn't change just the players". I wanted so badly to tell those 2 guys go watch Boiler Room because I know they will get loaded(secondary call) lol.
Stinky Pink Sheet crypto currency Crypto Co(CRCW: OTCPK) -65.26% 52week range $3.30 - $662.00 took a draw down today -419 the people behind this have a very colourful past I must say. Lol Bitcoin exchange Coinbase hacked funny no mention of this.
The general public is now buying in. We all know what that means... friend of mine just got it yesterday....tried to warn him... Elliot wave GTFO is very near...
Yeah, everybody I know is either talking about it, buying it, or buying other altcoins because "they are cheaper". Its probably going to go over $20k and he will tell you that you were wrong, but at we have all seen this movie before.
Just thinking about this from the other side of the fence - the early adopters, miners, and big holders of Bitcoin have put the public in a precarious situation. Bitcoin basically has to go up to crazy levels (i.e. 50k, 100k, etc) in order for the public to make the wild gains they've already watched go by them. Honestly I think that's what these HODL'ers are hoping for. As we've seen you can basically blow on the BTC exchange and it'll go up ...... not to mention all the rampant spoofing and manipulation. Unless regulation somehow finds its way into the mix (how that could be I'm not clear at all) - there's almost nothing stopping that kind of trajectory unless some of the early adopters blink first and decide to lock in profit.
If Bitcoin Mania really believes that it will be world's future currency then why are they always talking about how much money they're up in US Dollars? Remember they're also pushing the agenda that the greenbacks will eventually have zero value due to inflation. The whole point of a crypto currency is to decentralize - to get away from central banking and fiat (paper) money. The crazy increases are window dressing - they don't mean anything if one day people plan to spend BTC it on goods/services like regular currency. So once again we arrive at Bitcoin as a speculative asset. A bet. It has no physical use. It isn't proprietary - the blockchain technology it was founded upon is open sourced (i.e. LiteCoin, Etherium). It's main appeal is that you can send crypto currency anywhere/anytime and it's not controlled ....... but for how long?
It is terrible to know that many people will get hosed in Bitcoin, but hopefully this does encourage more people to enter other (less volatile) areas of the financial world.
Bitcoin is to money what Netscape was to browsers. Netscape allowed you to use the internet to do all those things you wanted to do. It was the first mover, looked promising, everybody hyped about the potential.
I don't want to upset you, but everything goes to the fact that this bullish mood for bitcoins will soon end. Just admit the fact that this bubble will soon burst.
I don't think so, not yet. BTC should be a good play through most of 2018 as the casually interested learn the basics. It has started to act beatifully, technically speaking. Off the ATH it retraced and pinged the 61.8 fib, look at that ridiculous doji tail that formed on decreasing volume (exhaustion). Now it breaks out of a falling wedge? This looks like a flippin' stock chart to me. I'm upping my 2018 HOY to $35-40K. That would put it at $0.5TT, or around FB level market cap. Going much higher than that would be absolutely astounding, especially considering that there is going to be side action (futures) on this. It's worth bearing in mind that longtime hodlers really have the underlying on lockdown. Even the Winklevosses have $1BB-plus in BTC long. If Nakamoto really has nearly 1MM BTC, maybe he will reveal himself someday if by doing so he announces he has the highest net worth on the planet... amusing idea. Apparently it costs around $6K to mine a coin - mining no longer seems to be a good play, except for the biggest farms.
Hi Rando! Yeah, you bring the bull argument. The thing is here that there has always been a bit of a barrier of entry into manias. In the tech bubble, you needed to open an brokerage account, deposit money, wait a few days... Here anybody can jump right into bitcoin in 5min flat. Its possible that this lack of barriers keeps this bubble going for longer unless we get a black swan.
Hard to say, extreme demand+limited supply=higher prices. Never dreamed cryptos would get this much attention, actually bought mine to hold several months back,but having the trader mentality forced me to sell. Doubt I will ever get back in at those prices though.
CoinDesk RBC Report: Crypto and Blockchain Could Unlock $10 Trillion Market Aaron Stanley 9 hours ago A research analyst at the Royal Bank of Canada (RBC) sees cryptocurrency, blockchain technology and decentralization as a potential $10 trillion ecosystem. In a new report released Wednesday, Mitch Steves, an equities analyst with RBC's Capital Markets subsidiary, laid out his bull case for why the future of transactional services will ultimately be decentralized. "While the cryptocurrency space has many risks, the opportunity appears vast with constant technology updates," he wrote. Though startups that enable cryptocurrency protocols to serve as decentralized alternatives to proprietary services or as a means of transmitting remittances have garnered the most interest throughout the ecosystem's formative years, Steves argues that the protocol layer (on which these services will be built) is where most of the value will be realized. "We see that the protocol layer will capture more value than the applications," he wrote, adding: "As the application becomes successful, the protocol layer captures more value, which then creates more interest in additional decentralized application development." As such, the comments echo the fat protocol theory put forward by Union Square Ventures, which states value creation on decentralized cryptocurrencies will occur at the lower infrastructure layers. The report also asserts that the market for cryptocurrency mining is here to stay, arguing that there currently exists an at least $4.2 billion market for bitcoin mining equipment with an additional $350-$450 million for other ASIC-mined cryptocurrencies like bitcoin cash and another $1.9 billion market for GPU-mined coins like ethereum and monero. Notably, the report argues that decentralized technology in its current state is misunderstood and underrated, claiming that cryptocurrencies are becoming better able to handle an increasing number of transactions. In particular, Steves sees the Lightning Network as a tool to enable more than a million transactions per second on bitcoin. Still, scalability, along with government intervention and the creation of more sophisticated wallet hacking techniques, was identified as one of the key risks facing the ecosystem. Continued progress on these fronts, however, will be a boon for the development and mainstream adoption of a global supercomputer, whether it be ethereum-based or on an alternative, provided that blockchain’s impeccable security record remains spotless, Steves said. “As scaling and protocols mature, the value of a decentralized world computer could potentially become a multi-trillion dollar industry,” Steves wrote, concluding: "If there’s one positive technology item we can agree on, it’s that the blockchain has never been hacked. What happens if we build on top of this secure layer?" Royal Bank of Canada image via BalkansCat / Shutterstock Categories: News, Ethereum, Business News, Bitcoin, Technology News Tags: Royal Bank of Canada, RBC, Mitch Steves CoinDesk Powered by WordPress Back to top
AKA, we are five years too late, but let me tell you how much I love crypto now that I have told my clients to buy some!
HODL'ers "say" they have it on lockdown. What people say on the internet and what they really do is often drastically different. I will admit the #HODL gimmick is clever, but again just a gimmick. I'm sorry, but when people are sitting on paper billions in value and they see the public marching in they take profit. That's the whole point of the public -----> to provide liquidity.
Don't fight the trend, I've been involved a mere 5 months, a little late to the party perhaps but don't regret it at all. " BITCOIN is not the bubble, it's the pin"
Been in and out many times since 2014... Its painful to see Ripple being recommended on CNBC.com the other day, that pre-mined pos. Nobody is arguing the trend is up, but value is being imposed where there should not be any value. Anybody that was around for the .com has seen this movie before.
