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Is Bitcoin the Next Big Thing?

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

  1. Edwin

    Edwin Well-Known Member Exclusive 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).
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. 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.
     
  4. RobM

    RobM Well-Known Member Exclusive 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.
     
  5. 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.
     
  6. 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.
     
  7. bonusmedia United Kingdom

    bonusmedia Well-Known Member

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    .
     
    Last edited: Apr 5, 2018
  8. martin-s United Kingdom

    martin-s Well-Known Member

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  9. Edwin

    Edwin Well-Known Member Exclusive Member

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  10. martin-s United Kingdom

    martin-s Well-Known Member

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    Sorry Edwin, but I call total BS on that analysis.
     
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  11. websaway United Kingdom

    websaway Well-Known Member

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    That's bang on for me. No regulation meant ads could say whatever they liked and people are vulnerable, that's why we have regulations to protect people against scams.
     
  12. dee

    dee Well-Known Member Acorn Supporter

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    Regulation will come. It's already underway with ICO's and treating them as futures/investments. I think its a good thing....even though the bitcoin purists think the whole point is that its deregulated/decentralised. It will help filter out the scammers and rip off merchants. It's like the wild west at the moment. HOWEVER. People have short memories and I think it could quite happily head skywards again if there was a decent trigger and people thought the train was heading up without them. There is now a precedent with a high to beat.
     
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  13. websaway United Kingdom

    websaway Well-Known Member

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    This is where the concept loses me. If bitcoin is a method of transaction with all the benefits it purports to provide, why should it also be a vehicle for investment ? OK I know that only 20 million will be mined but did someone overlook the fact you could have infinite amounts of competitor coins. I get a bit lost with my limited knowledge, but then again is the jargon designed to do just that.
     
  14. dee

    dee Well-Known Member Acorn Supporter

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    I don't know how they can deal with what's already out there efficiently.It's purely on new ICO's. I think it just stops every bloke and his dog cleaning up on launching a white paper and then legging it with the cash. As you say, bitcoin is supposed to be a maythod of payment, not a futures contract so who knows. One things for sure though, it wont get away without some form of regulation. Governments don't like anything they can't control.
     
  15. Admin Andorra

    Admin Administrator Staff Member

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    People should protect themselves without a nanny state getting involved
     
  16. Admin Andorra

    Admin Administrator Staff Member

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    BTW... Bitcoin transactions are now in seconds and at a cost of céntimos
     
  17. dee

    dee Well-Known Member Acorn Supporter

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    You say that , but you're assuming everyone is as tech savvy and as clued up as most people here. Unfortunately most people do actually need protecting from themselves in the world of the interweb.
     
  18. 3gmedia United Kingdom

    3gmedia Member

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    Interesting to see the comments at the start of this thread. o_O
     
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  19. ian

    ian Well-Known Member

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    Don't I just know it, when I said (though don't remember) "Whilst unregulated, it doesn't have a hope. Would rather remain in precious metals, art etc"
     
  20. Murray

    Murray Well-Known Member

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    Well you could look at it that at least you don't sit on your first opinion and leave it there.
     
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  21. amfletchers United Kingdom

    amfletchers Active Member

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    I've been spending quite a bit of time with cryptos these last few months. One I think is really undervalued right now is MTL, essentially a payment app that gives 5% cashback on purchases in the form of MTL cryptocurrency. Really smart concept, the app looks fantastic and the team is very good. See metalpay.com

    It's not going to be an instant 500% profit or anything but as the app begins to launch and more news comes out I think we will see the current $100M market cap grow significantly. Rather than being another useless coin it's got a practical use and a real company behind it which is rare. It's been going through a consolidation period for months now and looks ready to climb as soon as news is released.

    (I'm in no way involved in the project but do have a small amount of MTL, I doubt making a post about it here will make any difference to the price at all)