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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  2. Domain Forum

    Acorn Domains Elite Member

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  3. Admin Andorra

    Admin Administrator Staff Member

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    Yes absolutely, the ICO madness was a get rich quick scheme and a bubble just like the .com bubble. You floated anything techy back then and had yourself a company with a multi million pound valuation overnight. Many had little substance and so yes it was unethical and not very cool. BUT out of it came the big companies that still dominate the online landscape today. The ICO explosion is analogous and again the BUT is that the main players and cryptos with substance and real world value will dominate sections of our online future. I could be wrong but I only seem to notice you being dismissive and negative to everything crypto when you could be dipping your toe into the water where you see merit and making yourself some money so you can afford to pay Nominet all the reg fees they want. Ethereum has doubled in the last month and its a very exciting blockchain technologoy with real world applications.
     
  4. Edwin

    Edwin Well-Known Member Exclusive Member

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    ICO “was”? More money went into ICO in the last 2 months than the sum total of all ICO before that. So right now is when things are going super-loopy, not in the past.

    And that makes your .com analogy even more apt. Even a day or two before that market collapsed, pundits were predicting it would go up and up.

    You’re also right that a few companies survived the .com crash and later thrived, but they did so in spite of it not because of it.
     
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  5. Edwin

    Edwin Well-Known Member Exclusive Member

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    There’s more investment money floating around now than at any time in history. If a company is a solid play with a great idea it WILL get funded. Absolutely no need to pluck the ten thousandth random crypto currency out of thin air to do so.

    If a company is “only” good enough for an ICO there’s something massively wrong with its business model, execution etc. May not be immediately obvious, but there will be a flaw somewhere.
     
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  6. Edwin

    Edwin Well-Known Member Exclusive Member

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    And BTW Ethereum may well turn out to be the Amazon of crypto ie one of those few survivors/thrivers. Time will tell. But just because it may have a valid purpose doesn’t say anything at all about the thousands of ICO frantically piggybacking on it.
     
  7. Admin Andorra

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    And that was exactly the point I was making in my post. The ICO nonsense is just that. I think most wise heads know over 90% of the ICOs will slowly or not so slowly diminish to next to nothing so my point is why keep mentioning the crazy icos rather than critiquing what you think will happen to bitcoin, ethereum etc in the medium to long term. :)
     
  8. lazarus

    lazarus Active Member

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    I always buy using the "Dollar cost averaging" Method (DCR)
    https://en.wikipedia.org/wiki/Dollar_cost_averaging
     
  9. Admin Andorra

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  10. martin-s United Kingdom

    martin-s Well-Known Member

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    ICO = money AND control for some?
     
  11. Edwin

    Edwin Well-Known Member Exclusive Member

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    You’ve lost me. He spent about $70-80 million to accumulate a $96 million stash of coins.

    Profitable on paper (15-20% profit perhaps before taxes and fees), but not remotely replicable unless you’re already on the Times Rich List. And that profit could evaporate in days or weeks, given historical volatility levels. Or he could end up with more. Who knows? But the actions of one amazingly rich individual say nothing at all about the wider crypto market.
     
    Last edited: May 5, 2018
  12. Edwin

    Edwin Well-Known Member Exclusive Member

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    A) I don’t think I “keep” mentioning them

    B) They’re topical NOW precisely because they’ve gone superduper crazy NOW. Again, the video makes that point incredibly well. Last 60 days are game-changing in volume terms. So just like Bitcoin in December it’s legitimate to expect that ICO are something that progressively more and more clueless investors are going to flock to as the number of coins shoots up like a rocket. Surely that merits a brief acknowledgement? Especially since it’s easy to predict that much stricter regulation may be rushed in to protect the unwary.

    NOTE: I posted the original video link because anyone not following the ICO space like a hawk already may well not have realised just how quickly the market has gone mad...
     
    Last edited: May 5, 2018
  13. Admin Andorra

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    I was commenting in relation to the previous post about averaging!

     
  14. JMI

    JMI Active Member Acorn Supporter

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    "Earn millions from bitcoin even when crypto markets are crashing"
    [​IMG]
    When you get bombarded with emails like this, and I get asked by granny whether they should invest their savings or not, in my mind it says it all about the whole crypto thing.
    .
     
  15. ian

    ian Well-Known Member Acorn Supporter

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    Does it? Just says to me that opportunists will take any opportunity to exploit money from vulnerable people for personal gain, regardless of industry.
     
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  16. Admin Andorra

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    It's tacky, its nasty and its opportunitistic business ( you could judge the morality of the business behind it if you wish ). It's just like a million other niches.

    The thing is, crypto is huge so its going to come with a side car of sh1t as well. When SEO became mainstream lots of iffy business opportunitists started spamming the online world with their SEO expertise offerings...its still the case 10 years on and yet SEO is still a necessary, valuable and worthwhile activity. Just because industries have their unfortunate side-kick low ethic opportunists it doesnt make them any less valid, exciting or worthwhile.
     
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  17. amfletchers United Kingdom

    amfletchers Active Member

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    There is a web design company near me that to this day has big signs outside saying: "Get your website submitted to Google, Bing and Yahoo - £50" lol
     
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