Cryptocurrency (Bitcoin, Ethereum etc) Page 8

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  • phAge 8 Dec 2017 13:07:16 25,269 posts
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    Mfolf wrote:
    phAge wrote:
    Mfolf wrote:
    phAge wrote:
    Mfolf wrote:
    Clever-sounding stuff.
    So as a holder since the $5000 mark, who doesn't need to cash out any time soon, stay or get out now?
    You’re basically investing in ecopy Pokémon cards. So it really depends on how much of that is real money and how much of that is just profit from your initial investment. And ultimately how comfortable you are with a shock.
    Bought 0.5 BTC @4800 USD. Would suck to lose the 5000-ish dollars we're up at this point, but no disaster.
    i would take your real money out frankly and stick to the profit. Just to minimise risk. There is absolutely no inherent value here at all. Hence the ecopy rather than actual Pokémon cards comment above. So a run would decimate the market in seconds.
    Even assuming that we won't cash in for maybe 6 months to a year? Do you really think there is a risk of BTC crashing to sub-10K levels in the long run?
  • phAge 8 Dec 2017 13:08:59 25,269 posts
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    Rhaegyr wrote:
    You get a Ł10k per month salary?!
    Ł5K (but I live in a country with fascinating taxes) - so four months, then. :)
  • Mfolf 8 Dec 2017 13:42:43 1,836 posts
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    phAge wrote:
    Mfolf wrote:
    phAge wrote:
    Mfolf wrote:
    phAge wrote:
    Mfolf wrote:
    Clever-sounding stuff.
    So as a holder since the $5000 mark, who doesn't need to cash out any time soon, stay or get out now?
    You’re basically investing in ecopy Pokémon cards. So it really depends on how much of that is real money and how much of that is just profit from your initial investment. And ultimately how comfortable you are with a shock.
    Bought 0.5 BTC @4800 USD. Would suck to lose the 5000-ish dollars we're up at this point, but no disaster.
    i would take your real money out frankly and stick to the profit. Just to minimise risk. There is absolutely no inherent value here at all. Hence the ecopy rather than actual Pokémon cards comment above. So a run would decimate the market in seconds.
    Even assuming that we won't cash in for maybe 6 months to a year? Do you really think there is a risk of BTC crashing to sub-10K levels in the long run?
    Absolutely. Remember where this started. People are comparing the current value against the recent past. But there is no inherent value here, no government backing or systemic importance. So people should be comparing the current value with what it started off as. This isn’t buying shares in Apple at 170 today versus 150 in September remember.
  • phAge 8 Dec 2017 14:30:47 25,269 posts
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    Mfolf wrote:
    Absolutely. Remember where this started. People are comparing the current value against the recent past. But there is no inherent value here, no government backing or systemic importance. So people should be comparing the current value with what it started off as. This isn’t buying shares in Apple at 170 today versus 150 in September remember.
    Right. Just talked to the missus, and we're going to keep our half a BTC for now, and only sell if it dips to below 10K.

    The idea being that if that happens, we'll still have doubled our initial investment - and if BTC drops 5 grand over a short periode of time, odds are that it'll fall even further.

    Best compromise I can think of, that won't leave me shouting my anger at the Gods for either losing everything or missing out if prices continue through the roof.
  • Mfolf 8 Dec 2017 14:37:17 1,836 posts
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    That’s sensible. I’m overly cautious (hence not having any at all!).
  • Zeffi 16 Dec 2017 10:17:42 949 posts
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    Just talked to the missus, and we're going to keep our half a BTC for now, and only sell if it dips to below 10K.
    Looks like you made a good call.

    At $10k everyone assumed it was about to pop and here we are 3 weeks later and it's almost doubled (pushing $20k).
  • THFourteen 16 Dec 2017 10:21:15 46,889 posts
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    Not sure it’s going to “dip” like that. If it goes it’ll go before you have a chance to do anything.
  • Benno 16 Dec 2017 10:33:56 11,697 posts
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    Bitcoin doesn't need to have any inherent tangible value, or be backed by governments or a central authority, to succeed as either a currency or a store of wealth.

    Although this whole price surge (in all the cryptos) looks like a bubble from any angle you take, so I wouldn't be surprised for it to crash in the short to medium term.

    What that means for its long term price... who knows.
  • Zeffi 16 Dec 2017 10:38:20 949 posts
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    At what point will it not be a bubble though, considering people have been saying it's a bubble since before hitting $100?
  • macmurphy 16 Dec 2017 10:42:41 2,708 posts
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    I think it’s probably overpriced right now owing to speculation - expecting to see a sudden big drop, but still think it will go higher than current value long term.

    It’s a fundamentally sound currency.
  • Benno 16 Dec 2017 12:56:29 11,697 posts
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    Zeffi wrote:
    At what point will it not be a bubble though, considering people have been saying it's a bubble since before hitting $100?
    Its experienced a number of bubbles over the years. The current price movements suggest we're at peak euphoria phase, with the expectation that the panic sell off will happen at some point in the near future (if its in a bubble - no one can say for certain).

    To more directly address your question: once the panic selling period plateaus, you could say with some degree of confidence its no longer in a bubble. Bitcoin has spiked and crashed like this before.
  • Benno 16 Dec 2017 12:57:42 11,697 posts
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    @Zeffi also, you might find this research interesting (despite its obvious flaws and the author's naive overconfidence in their methods)

    https://theconversation.com/the-bitcoin-bubble-how-we-know-it-will-burst-88511
  • phAge 16 Dec 2017 14:37:40 25,269 posts
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    Zeffi wrote:
    Just talked to the missus, and we're going to keep our half a BTC for now, and only sell if it dips to below 10K.
    Looks like you made a good call.

    At $10k everyone assumed it was about to pop and here we are 3 weeks later and it's almost doubled (pushing $20k).
    Yeah, so far things are looking good. Still undecided on just when we'll sell, though.
  • Zeffi 16 Dec 2017 15:10:44 949 posts
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    I think have a price/date in mind. That said, if it goes higher after that you'll regret it (but if you never sell it, you've never gained anything).
  • Rhaegyr 18 Dec 2017 10:07:37 4,020 posts
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    Absolute beginner question here - I'm hoping someone who knows what they're talking about can help me!

    I want to buy some XRP (nothing much, just about Ł50-Ł100 worth) and see how it does over the next few years. I've never really invested in anything (hence the small amount) and I won't be too cut up if it loses all its value.

    The problem is there's that much information online I've no idea where to set up an account/buy the currency. So many exchanges, applications etc. that I feel absolutely at sea!

    Any help would be appreciated, thanks :)
  • DamoVotf 18 Dec 2017 10:28:55 1,238 posts
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    phAge wrote:
    Zeffi wrote:
    Just talked to the missus, and we're going to keep our half a BTC for now, and only sell if it dips to below 10K.
    Looks like you made a good call.

    At $10k everyone assumed it was about to pop and here we are 3 weeks later and it's almost doubled (pushing $20k).
    Yeah, so far things are looking good. Still undecided on just when we'll sell, though.
    Why don't you sell half, reclaim 7500, and keep the other 7500, as potential upside.

    I just keep having nightmares that Bitcoin trading will get banned in Europe/US for allowing North Korea to move money offshore (stuff banks gets fined millions for) and your 'dip' will become a rout, and you wont be getting out.
  • Mfolf 18 Dec 2017 11:15:12 1,836 posts
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    Not a bad shout actually. Reason number 8363 it might make sense to exercise some caution here.
  • Benno 18 Dec 2017 13:35:42 11,697 posts
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    Rhaegyr wrote:
    Absolute beginner question here - I'm hoping someone who knows what they're talking about can help me!

    I want to buy some XRP (nothing much, just about Ł50-Ł100 worth) and see how it does over the next few years. I've never really invested in anything (hence the small amount) and I won't be too cut up if it loses all its value.

    The problem is there's that much information online I've no idea where to set up an account/buy the currency. So many exchanges, applications etc. that I feel absolutely at sea!

    Any help would be appreciated, thanks :)
    My recommendation:

    - set up coinbase account
    - buy Ł100 of ether
    - set up a ripple/XRP wallet here: https://ripplewallet.pro/ (print/save the details, don't lose them)
    - use shapeshift.io to transfer/convert your ether into your ripple wallet

    I did this exact thing last week, takes minutes
  • Rhaegyr 18 Dec 2017 13:43:19 4,020 posts
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    @Benno

    Thanks for this, massively appreciated :)

    There's so much information online it's hard to know what to trust and where to look!
  • phAge 18 Dec 2017 16:02:01 25,269 posts
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    DamoVotf wrote:
    phAge wrote:
    Zeffi wrote:
    Just talked to the missus, and we're going to keep our half a BTC for now, and only sell if it dips to below 10K.
    Looks like you made a good call.

    At $10k everyone assumed it was about to pop and here we are 3 weeks later and it's almost doubled (pushing $20k).
    Yeah, so far things are looking good. Still undecided on just when we'll sell, though.
    Why don't you sell half, reclaim 7500, and keep the other 7500, as potential upside.

    I just keep having nightmares that Bitcoin trading will get banned in Europe/US for allowing North Korea to move money offshore (stuff banks gets fined millions for) and your 'dip' will become a rout, and you wont be getting out.
    Makes a lot of sense. Still, "sense" doesn't really carry much weight when it comes to crypto, so... :)

    Joking aside, there are loads of potential reasons why bitcoin might/will crash at some point, but I don't really think anyone can predict when or why.

    Far as your scenario goes, I consider it unlikely - and more so for every day that goes by and more and more ordinary people invest in crypto. Banning the trade overnight would potentially bankrupt a lot of people, which I have a hard time seeing, at least European, governments doing, just to punish North Korea.

    Also, at the moment, Bitcoin gains are taxed 50% (DenmarkLOL), but I'm hoping that will change at some point. Preferably before BTC crashes.
  • null 22 Dec 2017 08:46:31 706 posts
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    BTC crashing nicely at the moment. Mini recovery, probably time to buy.
  • phAge 22 Dec 2017 09:16:48 25,269 posts
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    I'd probably stay away - this could easy continue to go lower.
  • senso-ji 22 Dec 2017 09:25:54 8,154 posts
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    LTC is also plummeting, but that might be worth buying if it stabilizes as it's actually affordable. XRP shot up 64% in a day, to just over a dollar. Might be worth keeping an eye on that.
  • Fake_Blood 22 Dec 2017 09:27:43 8,051 posts
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    Nicehash is back up and running. Was getting €4/day with my 1080ti, now I’m getting close to €8/day. Not bad.
  • Benno 22 Dec 2017 14:00:45 11,697 posts
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    its looking like the big crash, bitcoin down Ł3.5k since yesterday :D
  • phAge 22 Dec 2017 14:59:35 25,269 posts
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    I'm interested to see if the plunge bottoms out at 10.000, which is where the explosion to 20K started, or if we're indeed headed for 3-5.000 territory.

    Must be a lovely Christmas for those who bought at 19.000.
  • sport 22 Dec 2017 15:22:16 14,089 posts
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    I've had to trade my Lambo in for Nova.
  • reddevil93 22 Dec 2017 15:38:51 14,006 posts
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    I’m thinking the big sell off the last few days may be due to casual investors trying to get money out before Christmas.

    Possibly just blind optimism.

    Edited by reddevil93 at 15:38:58 22-12-2017

    Edited by reddevil93 at 15:39:10 22-12-2017
  • superdelphinus 22 Dec 2017 17:12:13 9,608 posts
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    Starting to build up again now
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