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Is Bitcoin the Next Big Thing?

Discussion in 'Business Discussions' started by accelerator, Jun 2, 2015.

  1. Admin

    Admin Administrator Staff Member

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    They call themselves...'the blockchain island'
     
  2. Domain Forum

    Acorn Domains Elite Member

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    IWA Meetup
     
  3. dee

    dee Well-Known Member Acorn Supporter

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    I know not bitcoin related but figured few reading this might be interested. TRX (tron) is having a run at the moment, and its likely to continue till the 1st march at least. It seems they launch their test network and likely do a coin burn on the same day.Coin burns usually have the impact of significantly pushing up the value of a coin.

    Do your own research obviously but could be one to jump on right now
     
  4. GCHQ United Kingdom

    GCHQ Member

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    domains and crypto is for fun....quant trading is the place where you can fulfill your dreams ;)
     
  5. dee

    dee Well-Known Member Acorn Supporter

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    On what platform ? And with what strategy ? :)

    I've yet to see an actual profitable MT4
     
  6. GCHQ United Kingdom

    GCHQ Member

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    You need a stable professional platform like NT..........Focus on Price Action and not time, Price comes before time ;)
     
  7. Edwin

    Edwin Well-Known Member

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    There's a suggestion part of the current drop in crypto is down to US investors selling to meet tax obligations (since they have incurred cap gains taxes switching between currencies, as was mentioned a few pages back)
    https://www.cnbc.com/2018/03/29/bit...re-than-15-percent-as-tax-day-approaches.html

    Whether that means they'll come back into the market on the other side of Tax Day, or stay on the sidelines, who knows... but it certainly hints at two more weeks of weakness.
     
  8. ian

    ian Well-Known Member

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    Nah, this is completely market manipulation. The irony is if the whales bought now, the price would rocket and they'd make tons of profit, but their greed means they will continue to force the market down for an even lower entry point (and to attract more punters/victims in). It will come back I'm sure, but might take weeks or months more, and I predict we'll see $6100 in the short term, possibly lower after a bounce. I was fortunate enough to get in prior to the December/January boom, so my funds are still relatively positive, but it has helped bring some clarity to my scatter gun approach, now more focused on specifics and I'm hoping for a further dip to increase my holdings.
     
  9. websaway United Kingdom

    websaway Well-Known Member

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    I get the impression that the game was to agressively market to millions of small players ( I know a policeman who invested £200 ) and then siphon off the rises. It seemed like the perfect way to keep making millions. When people question the common sense of it all, just baffle them with science.
     
  10. RobM

    RobM Retired Member

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    He didn't invest £200. He gambled it. It may pay off.. it may not. It's phrases like this though, combined with media hype, that make out it's far more high-brow and acceptable intellectually than it really is. I invested £100 at the casino last week. Most of it was invested in blackjack with a little in roulette. I was waiting for the bounce at £75. When that didn't come I waited for the £50 dip. Sadly it went to £0 before I could realise any of my investment. However that won't deter me from investing again. The casino told me it was a sure thing.
     
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    Last edited: Mar 29, 2018
  11. RobM

    RobM Retired Member

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    Just went below $7k/£5k - must be a lot of people starting to worry. I've seen so many people saying it will bounce after a dip... however these dips were at $10k,$9k,$8k, and now $7k. When is the real dip?
     
  12. ian

    ian Well-Known Member

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    Sadly, when the whales say it is. Only when it reaches a point will new investors see the potential upside as an opportunity to enter the market, and that will only come when the whales decide. I'm cost averaging down now, just in case, but if it goes back up before I fully invest again, then so be it, I take the money back out.
     
  13. RobM

    RobM Retired Member

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    Buying at stages during a price decline is a sure fire way to go bust. I've seen it in forex where people go bust before price returns (if at all). Even worse if they are paying interest on the money used to buy in as price decreases.
     
  14. Edwin

    Edwin Well-Known Member

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    Chive and herb, or BBQ mustard?
     
  15. Edwin

    Edwin Well-Known Member

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    Why will new investors think of something that used to cost $20,000 and now costs $5,000 as a good investment when their neighbour, their colleague, their golf course buddy or their local bobby is filling their ear with tales of woe about how they lost a packet on their "investment"?

    Remember, the hype around the peak was massive in the mainstream press, and therefore the hubbub around the water cooler would have been equally engaged. Now? If people talk about it at all (rather than licking their wounds in silence) it will only be to bemoan Bitcoin as the worst "investment" they ever made: "It was worse than during the Great Financial Crisis. Then, my house went down 25% in a year. But I've lost 3/4 of my money in 3 months!".
     
  16. Edwin

    Edwin Well-Known Member

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    Plus if people use other crypto to buy Bitcoin, they'll owe cap gains immediately if Bitcoin picks up even if they never sell it (at least in the US, though other countries may have similar ideas).
     
  17. ian

    ian Well-Known Member

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    Dollar cost averaging is never a bad way to go in a market that cannot be predicted, providing you are sensible and don't invest more than you can afford to lose. There is no valid historic data for crypto, the value could suddenly go through the roof again and if you've held out too long, you miss the boat (I believe the cool kids call it FOMO); equally, it could go to almost zero and you be left with a high average, no matter how low you buy. That is the gamble essentially. Most experts would suggest buy once a correction has taken place, but that is easier said than done in such a volatile market.

    Because only a very small fraction of the population are invested, and those that didn't invest at the time of the peak, may now consider this a good entry point and care little for those that got burnt. No different from my entry point into the market, where I saw crypto was increasing in price and wanted to get involved; sadly I didn't sell at the top (as I had little experience of how quickly it can change), but my average was low enough for it to still be profitable now. I guess this is no different; there have been colossal dips before yet new and more investors came to market.
     
  18. RobM

    RobM Retired Member

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    'Most experts would suggest buy once a correction has taken place, but that is easier said than done in such a volatile market.'

    There is a reason for this. ;) The more volatile a market *that you are already in* the less reason to continually buy on a decline. Your 'gamble' already exists. Look at your risk/reward with each new position. You are risking the whole amount but I very much doubt you are waiting for the price to double from your entry point. Not only are you doing that once you are doing it repeatedly. Sorry Ian but this has moved away from speculating/investing - I would carefully think about your strategy.
     
  19. ian

    ian Well-Known Member

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    It is an ever evolving process, I'm as far from an expert as you can get, but am speculating on the future of this technology. My strategy has evolved over time, if I knew at the start what I do now etc. I have managed to sell out of a few positions and re-enter 30 to 40% lower, so that gamble paid off to an extent...providing it doesn't continue lower. You might be right, we'll just have to see.
     
  20. websaway United Kingdom

    websaway Well-Known Member

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    Perhaps bitcoin should be regulated under the gaming laws so as to identify what it really is.
     
  21. bonusmedia

    bonusmedia Well-Known Member

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    .
     
    Last edited: Apr 5, 2018