Is Bitcoin the Next Big Thing?

bonusmedia · Feb 17, 2018

Ouch indeed! Here lies the beginning and ending of my CFD trading career. RIP - I learned a great lesson

I do still believe tether is a 'big lie' - among others - and I do still believe there is a further crypto crash in store.
I wish everyone the very best of luck with whatever positions they hold.

We might actually get around to building CompareBrokers.co.uk now I have some insight - and without the risk I took on last weekend.

I made another daft bet today - played my first game of squash and told my mate I'd win a game inside a year.
If anyone fancies a game somewhere near yorkshire let me know

I intend to win this one

dee · Feb 18, 2018

bonusmedia said:
Ouch indeed! Here lies the beginning and ending of my CFD trading career. RIP - I learned a great lesson

I made another daft bet today - played my first game of squash and told my mate I'd win a game inside a year.
If anyone fancies a game somewhere near yorkshire let me know I intend to win this one

The unfortunate thing is we may be not far off a reversal again ( in technical terms) Theres a decent channel top at at about 12300 ( i said 12ish previosuly) It could head back down from there past your stop loss which would hurt. That is exactly what would be happeing to me if i'd had the nuts to short when you did. Unless sentiment has really changed in which case if it pops that then,17.5 before a decent retracement. Its all guess work though unless you have hindsight.

Sucks you got stopped out. Sorry.

accelerator · Feb 18, 2018

bonusmedia said:
Ouch indeed! Here lies the beginning and ending of my CFD trading career. RIP - I learned a great lesson

What was it?

bonusmedia · Feb 19, 2018

accelerator said:
What was it?

Well several really, and I've learned them all before but obviously needed a refresher.

Don't try to time a volatile market, even if you're sure of the fundamentals
Don't be greedy and gamble on short term outcomes when there are plenty of sound opportunities for long term growth
If you need several drinks to press the button it's probably the wrong button
Don't get too big for your boots

Edwin · Feb 19, 2018

bonusmedia said:
Well several really, and I've learned them all before but obviously needed a refresher.

Don't try to time a volatile market, even if you're sure of the fundamentals

Don't be greedy and gamble on short term outcomes when there are plenty of sound opportunities for long term growth

If you need several drinks to press the button it's probably the wrong button

Don't get too big for your boots

Would it (in theory) have been possible to place a simultaneous, separate "bet" that would only have paid off if BTC went over 10,500 (i.e. your automatic liquidation stop)? And could that have been used to hedge your short?

Or would this have been impossible or far too costly?

bonusmedia · Feb 19, 2018

Edwin said:
Would it (in theory) have been possible to place a simultaneous, separate "bet" that would only have paid off if BTC went over 10,500 (i.e. your automatic liquidation stop)? And could that have been used to hedge your short?

Or would this have been impossible or far too costly?

I don't really know. Guess that it would probably would mean locking in a tiny profit rather than a potential big win.

Think I'll stick to trying to create value, it was all a bit stressful

Edwin · Feb 19, 2018

Somebody bought $400 million of BTC between February 9 and February 12. That must have been a contributing factor to the rebound since it represents over 15% of the total market volume across all exchanges during that timeframe...
http://fortune.com/2018/02/19/400-million-bitcoin-anonymous-investor/

martin-s · Feb 19, 2018

https://blockchain.info/largest-recent-transactions

accelerator · Feb 19, 2018

I think the answer to the original question I posed when I started this thread in June 2015 was a definite yes.

I think attempting to predict short term movements in Bitcoin is next to impossible, because large percentages of total Bitcoin are still controlled by a relatively low number of people, so the price can be affected by their actions.

What happened before Christmas was the "man in the street" got to know about it for the first time, and there was major speculation, call it a bubble if you like, but I think that will be a bit unfair as long term I still see Bitcoin rising above the $20,000 or whatever it reached.

I think what a lot of people never realised is that Bitcoin's true purpose is not a speculative "get rich quick" scheme, but a fairer way for people to store and exchange value, i.e. a fairer form of money.

ian · Feb 19, 2018

accelerator said:
I think the answer to the original question I posed when I started this thread in June 2015 was a definite yes.

I think attempting to predict short term movements in Bitcoin is next to impossible, because large percentages of total Bitcoin are still controlled by a relatively low number of people, so the price can be affected by their actions.

What happened before Christmas was the "man in the street" got to know about it for the first time, and there was major speculation, call it a bubble if you like, but I think that will be a bit unfair as long term I still see Bitcoin rising above the $20,000 or whatever it reached.

I think what a lot of people never realised is that Bitcoin's true purpose is not a speculative "get rich quick" scheme, but a fairer way for people to store and exchange value, i.e. a fairer form of money.

I'm interested to know if you bought any BTC in June 2015 when the price was ~$200? If so, have you held it, or did you sell on the way up.

Reading the first few pages from all that time ago is very interesting; so much doubt it would ever get anywhere; including a negative comment from me that I cannot even remember posting haha

mat · Feb 20, 2018

https://mashable.com/2018/02/20/bitcoiin-steven-seagal-endorsement/

ian · Feb 20, 2018

mat said:
https://mashable.com/2018/02/20/bitcoiin-steven-seagal-endorsement/

Given he's not used his twitter account for a year, I suspect this is a hack promotion.

websaway · Feb 20, 2018

When I think about it, what I am actually witnessing now is open legalised robbery. One person puts money in and another person simply takes it out and keeps it for themselves.

dee · Feb 20, 2018

Lol... all seem totally legit. Like this bit:

* Steven Seagal is endorsing an extremely shady cryptocurrency ICO

* It's called "bitcoiin" (two "i"s)

* ... but it's on the *Ethereum* blockchain (lol)

* the affiliate payout is depicted in this handy definitely-not-a-pyramid-scheme pyramid chart pic.twitter.com/ja7HnnGeqE

Admin · Feb 27, 2018

i like the pizza stories https://www.coindesk.com/bitcoin-pizza-day-2-lightning-payment-just-made-history/

Admin · Feb 27, 2018

i like the pizza stories https://www.coindesk.com/bitcoin-pizza-day-2-lightning-payment-just-made-history/

Admin · Feb 27, 2018

Bizarre...conscience?

https://www.coindesk.com/hacker-returns-26-million-ether-months-ico-theft/

dee · Mar 4, 2018

BOE's Mark Carnage speach on future of money/crypto if anyone fancies a read

Here

martin-s · Mar 5, 2018

Just read a great quote from Ben Semchee in Business Cloud magazine (some BS sent to me by UKFast, our hosting co). He pulls $100 and $50 notes, one of each, out of his pocket and says:

Why is one note worth twice as much as the other one? What people need to grasp is that currency is a shared illusion of value that we all recognise.

And that's the best explanation of why Bitcoin is no more a ponzi scheme than any other currency as I've yet found.

The price chart is starting to look rather different and more robust than it did a month ago.