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aseq
Netherlands4000 Posts
Afaik there are only a handful of coins that theoretically can't suffer from this: IOTA, XRB and some others. I tried buying some XRB today, but with the BTC and ETH transfers taking so long and the coin being ridiculously hard to buy (only tradeable on 2 exchanges, 1 being offline, the other getting DDoS'd last night and only trading for BTC or Dogecoin?! ) I gave up, just hope ETH will rise a bit more too  .I'm really checking often now, hard to tell what's going to happen. | ||
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pmh
1416 Posts
The market has become more or less fully developed with the introduction of futures and I don't see many triggers that could sustain the rate of increase that we have seen in the past year. | ||
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SoSexy
Italy3725 Posts
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aseq
Netherlands4000 Posts
On December 14 2017 16:20 pmh wrote: I think the exponential rise of bitcoin is over for quiet some time to come,maybe between 10k and 25k for the coming 2-3 years? The market has become more or less fully developed with the introduction of futures and I don't see many triggers that could sustain the rate of increase that we have seen in the past year. I think this depends mostly on market saturation. I read that in my country about 6 percent of the population has some type of coins at the moment. With the recent surge, I think that number can get a little bit higher. Also, people who put in some money a couple years ago may be considering adding on. | ||
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Jan1997
Norway671 Posts
But then again if you take up a 100k loan and buy BC and the value goes from 15k to 60k over time you're in it pretty good. Anybody thinking of doing this? :p | ||
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pmh
1416 Posts
To 500k in 3 years would be a great return though and if not we can at least see someone eat his private parts. 50 trillion is all the currency in the whole world I once read somewhere,not sure if that is accurate. with 21m bitcoins that would make a price of about 2.2m $ for each bitcoin if they will be valued equally at some point,increasing over time as the amount of currency still increases but there are more cryptos then btc. It seems unlikely to me that it will come anywhere close to that though you never know. I saw on cnn a discussion about btc and there it was mentioned that the big holders might consider selling halve their stock around current prices wich off course is all speculative. Unloading such a huge amount of btc without crashing the price will take a while,distribution. That in combination with recent price action is the main reason for my expectations for the coming 2-3 years. | ||
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SoSexy
Italy3725 Posts
On December 15 2017 01:11 Jan1997 wrote: I read in my local news that some people are taking up huge loans to buy bitcoin with the hopes that the value will increase tremendousely soon but that just seems too risky. If you lose like that you lose bigtime and if you go bankrupt nobody can help you either cause you own nothing of value equivalent to what you owe. But then again if you take up a 100k loan and buy BC and the value goes from 15k to 60k over time you're in it pretty good. Anybody thinking of doing this? :p Hi! In my opinion, this is a terrible way of investing. The golden rule is 'don't invest what you cannot afford to lose'. So if I sell my house to buy bitcoin or if I ask my boss to pay me in bitcoin, those are shit decisions. On the other side, suppose you earn 1000 dollars/month. You could safely invest 50/100 dollars each month and be ok with it. If you lose everything it's like you went to a club 2 times more that month - but if you gain, nice things could happen to you. | ||
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iPlaY.NettleS
Australia4419 Posts
![[image loading]](https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/img/stages_bubble.png) Probably around the greed/delusion stage. | ||
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iPlaY.NettleS
Australia4419 Posts
On December 15 2017 01:11 Jan1997 wrote: I read in my local news that some people are taking up huge loans to buy bitcoin with the hopes that the value will increase tremendousely soon but that just seems too risky. If you lose like that you lose bigtime and if you go bankrupt nobody can help you either cause you own nothing of value equivalent to what you owe. But then again if you take up a 100k loan and buy BC and the value goes from 15k to 60k over time you're in it pretty good. Anybody thinking of doing this? :p Might be better investing in monero. | ||
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Simberto
Germany11856 Posts
You have to ask yourself the question: Why is the dude that is loaning me the money not investing it in the thing i want to invest it in instead? When you then further add that that person is almost certainly more knowledgeable about money investments in general (As that is his job), it quickly becomes as bad decision to invest that money. | ||
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pink_disaster
15 Posts
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aseq
Netherlands4000 Posts
On December 15 2017 21:09 pink_disaster wrote: I was doing a research on how you can recover your coins if you lost your key. So, according to this article this is one of the disadvantages Bitcoin has. Is this really true? I can't imagine losing the key while having a decent amount in my wallet and not being able to recover it! They should work to do something about that, not convenient at all! Haha, not sure if you're serious, but if you want decent protection against mistakes, losing your password and your computer getting hacked, you won't be able to have an anonymous currency. What stops me from claiming your account is actually mine and I lost the key if there is no way to know who either of us is? It's not that hard to protect your coins, you should just write down your 'keys' on paper and store them somewhere. You could even go further with things like getting 2 hardware wallets and setting them up the same way, so even if you lose 1 and the written down key you can still use the other 1 with only the pin. I've personally never had problems with this. I've done some dumb things (like selling BCH asap) or having coins on an exchange at the time of a fork, but I've never sent to a wrong account or lost a password. | ||
Nakajin
Canada8990 Posts
On December 15 2017 19:45 iPlaY.NettleS wrote: Fees are way too high right now Probably around the greed/delusion stage. Seems legit | ||
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LemOn
United Kingdom8629 Posts
Have people stopped panicking or is it still coming ? And that chart is legit it happened some 6 times already Always goes up rapidly reaches new high Big accounts offload Public noobs start panicking and sell instead of buy like my Friend who lost 3full BTC vs holding in 6months And it drops to the high of the previous cycle. Just make the mean much higher sloping and you have what's been happening | ||
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Nakajin
Canada8990 Posts
On December 16 2017 18:09 LemOn wrote: Based on historic pattern there was supposed to be a dip to around 8k that never came...instead there was a short one to 12.7k a couple days back Have people stopped panicking or is it still coming ? And that chart is legit it happened some 6 times already Always goes up rapidly reaches new high Big accounts offload Public noobs start panicking and sell instead of buy like my Friend who lost 3full BTC vs holding in 6months And it drops to the high of the previous cycle. Just make the mean much higher sloping and you have what's been happening It's pretty evident there is risk of a bubble, but having a 15 step chart with arbitrary slopes as a model doesn't tell us anything more and seems like a pretty bad way to invest your money especially since you just assume it's gonna repeat itself and that the mean value with always be increasing. I am not saying that it couldn't be accurate, but you need actual data analysis behind it not just a random graph that I found on google image in 20 seconds. Also as a general rule if you see exclamation points on a document, it's probably bullshit. | ||
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radscorpion9
Canada2252 Posts
On December 17 2017 01:59 Nakajin wrote: It's pretty evident there is risk of a bubble, but having a 15 step chart with arbitrary slopes as a model doesn't tell us anything more and seems like a pretty bad way to invest your money especially since you just assume it's gonna repeat itself and that the mean value with always be increasing. I am not saying that it couldn't be accurate, but you need actual data analysis behind it not just a random graph that I found on google image in 20 seconds. Also as a general rule if you see exclamation points on a document, it's probably bullshit. just had to say I love this post, its so true lol. Also if you try hard enough you could probably make most trends look like a hump with a rising mean, which is essentially all that graph is | ||
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bITt.mAN
Switzerland3693 Posts
What's the benefit of Bitcoin (and other CryptoCurrencies)? With Crypto you literally don't need banks, you don't need foreign currency, it's pseudonymous so you have privacy, but also accountability (people can see if you're stealing). It's an indelible record system - keeps track of who paid what, but can also be used to write laws and documents that can't be censored later (good for democracy). Decentralized = no one can change the transaction records, block your funds, or pull the plug Right now the market is like the Wild West during the Gold Rush - there are lots of brigands waiting to prey on people with low digital security. But eventually once it gets major uptake (coins are used for more than speculative trading), the price will go up at least to 100k, the value will stabilize, and people can use money 2.0 . It isn't just for little (illicit) purchases - Imagine if ALL MONEY worked without the need for Gov oversight. They can't seize your assets, peep on them for tax, inflate/devalue the currency, or make old notes invalid. It uses an indelible record of every transaction EVER - great for keeping finances accountable. The system is designed to offload all 'trust' to the code, so it can function without needing to trust any human actors. As long as people have strong digital hygiene, all the necessary regulation is already in place. Gov involvement will only be for them to control the system = decrease in freedom for users. And then there's smart contracts: https://blockgeeks.com/guides/smart-contracts/ When you make a bank transfer, you can write a little note (i.e. the name of that transfer). With smart contracts, that note becomes code, which can control 'if the money gets delivered' ONLY if the conditions are met. This will prevent scams: pay for digital goods, your money goes on hold, and will get automatically returned to you unless the guy sends you the file (which is verified by a trusted 3rd party service, so neither of you can cheat). It could be used as type of DRM, where every version of a digital file is unique. What's important is the conditions can't be tampered-with (re-written) by you OR them, which protects both of you. Most of all it can reduce fees by removing the middle-man - why pay through Uber's payment system (or AirBnB etc.) where they can take 25%, if I can securly pay my driver directly? With smart contracts, your payment would be pending, and only when the service was delivered (e.g. the App verifies the condition "GPS of phone = GPS of destination") does the payment go through (otherwise, refund). So that's why Crypto is a very big deal! Buy a little and try it out with this referral link: https://www.coinbase.com/join/58dedbcfb6ea1701202531c7 www.facebook.com/PostIronicOvertlyTheologicalMemes/posts/540221939664068 (I'd love if you'd Like the post/page) | ||
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Sr18
Netherlands1141 Posts
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_fool
Netherlands682 Posts
On December 17 2017 17:03 Sr18 wrote: Given how prevelant tax evasion is, crypto currency better not take off. This worries me as well. Maybe its a very Euro point of view, but I'm actually glad to pay taxes to a centralised government so I get to live in a country with proper infrastructure and social security. People dodging taxes by converting their savings to BTC would certainly put a dent in the quality of life as we know it. | ||
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zvx
4 Posts
there are many reason why BTC has gone up but for the most recent reason you can read about it here: https://medium.com/xraytrade/bitcoin-futures-arriving-at-the-cme-9ad484d7b7f2 its about to get much bigger and more complicated so anyone that is curious should least read up about it before brushing it off as a bubble again and again. | ||
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