Thread: RIP Bitcoin

I havent got a clue either

But surely America World Police are gonna stick a Rothschild sized spanner in the works soon.

Its too volatile for me. If i were you id get someone to do a round the clock vigil or is your mate whos in for 11 on it?

Originally Posted by buriramboy

It's just greed fueling this certainly not based on fundamentals.

i agree.

IMO, it's 100% sentiment driven.

Originally Posted by Dillinger

is your mate whos in for 11 on it?

He's got a desktop App widget thing that updates every 5 seconds or something.

Haven't looked at the 17,000 messages he's sent me this evening.

Originally Posted by Dragonfly

yes it's silly, once regulators realize this is an official scam, they will pull off the plug

Ah...ok, I see. But they won't pull the plug because there's too much money involved.
But more to the point, in theory, if recognition and regulation occurred, it would pull in more suckers. He's right.
You are too in that it is all a scam.

The weak point of the theory of the scam is the mining. Creating something out of nothing. Only fools or scammers would go for it. If it was just simply an alternative currency, then there's no problem.

I can see the IMF and BIS jumping on the bandwagon, but not unless they were controlling the mining.

I'll say it again: Those that invested early at $500 or less will be all looking at each other and wondering who will bail out first: Do we wait untill the suckers raise it more, or cash in now. It's plummeting as we speak, and there is the very real possibility of a "rush on the banks", and the first ones to do t will be the major stake-holders.

I just hope for Bulgaria's sake they have sold already.

Best thing that could happen to cryptos, regulation = recognition, roof flies off, then wait for the first gov that thinks it's a smart move to tax profits and the next roof flies off. And what do you suppose will happen, Dragonfly, when it's revealed that big hands have been gathering for months?

The real vulnerability is at the exchanges, servers and trading platforms; this is where many people will lose a lot of money through fraud/heists, and I reckon it will get so bad that eventually a major gov will be panicked into breaking the ice with a regulatory body...

I'm looking to throw away a few k baht at a couple of low end 0.05 satang-type cryptos, once I learn enough about wallets to DIY.

95% of bitcoins are owned by just 4%.

I wonder who thry are. My moneys on America

Bought some DAS, ETH, LTC and FTC today, small bit of each with some of the BTC returns. Be interesting to see where they are in say 2 yrs time.

Originally Posted by Dillinger

95% of bitcoins are owned by just 4%.

Yesterday it was posted that it's 70%.


They've been busy buying.

the number published by bloomberg was 1000 people hold 40% of all bitcoins.

maybe dillinger's figure is for all crypto currencies...not just bitcoin.

Wouldnt that be selling?

I got that from here. They try and put it in laymans term too but i still dont get it


Cryptocurrency Concentration - Just 4% Own Over 95% Of Bitcoin | Zero Hedge

From September

*Quick edit.*

BTC.

Looks like I'm up around 20-25% from this afternoon's figures.

Getting ready to take off again.

https://www.gdax.com/trade

Gdax traded 12% above all others when it hit 15k

Originally Posted by Luigi

Bought some DAS, ETH, LTC and FTC today, small bit of each with some of the BTC returns. Be interesting to see where they are in say 2 yrs time.

And DOG, HYP, PND, NMC and ZEC.

9 in total. Will be interesting to see where they are in 5 yrs time.

Originally Posted by Luigi

And DOG, HYP, PND, NMC and ZEC.

9 in total. Will be interesting to see where they are in 5 yrs time.

Probably vanished into the thin air they came from.

I should have got involved.

Originally Posted by buriramboy

And DOG, HYP, PND, NMC and ZEC.

9 in total. Will be interesting to see where they are in 5 yrs time.

Probably vanished into the thin air they came from.

That would be my guess too.

I find these crypto currencies a fascinating story and will continue to follow it but just not an 'investment' for me. Although I might have a gamble if it crashes hard.

Originally Posted by Maanaam

in theory, if recognition and regulation occurred, it would pull in more suckers. He's right.

then why not go to the Futures instead of the real bitcoin ? at least the Futures will have netting every day,

you are assuming normal people are playing these games and that they care about regulations. Obviously they don't, and for those that do, they will go to the normal regulated Exchanges with Futures contract.

Did you know you can also buy Futures on the weather for the next 6 months ? that's actually more tangibles than Bitcoins

Originally Posted by Maanaam

Those that invested early at $500 or less will be all looking at each other and wondering who will bail out first

I think those who did invest at 500 or less are long gone, probably cashed out when it went to 5,000 and maybe the rest at 10,000

not a bad run, maybe a few drug dealers are stills stuck because can't get their id papers to the dodgy exchanges

the positive thing of having those Futures is that it will put the limelight on those "dodgy" exchanges and regulators are going to ask those exchanges to disclose their internal working

this is the only reason why those Futures got approved, the crackdown has already begun

in some ways, Earl was right when he said that this obscure tech was "evading" the Fed and the US Treasury and freaking them out. The answer was not to freak them out even more, because that's going to force them to take actions.

Think of Bitcoins as the WMDs of illegal money laundering, the smoking gun they have been waiting for all those years

Originally Posted by buriramboy

I find these crypto currencies a fascinating story and will continue to follow it but just not an 'investment' for me. Although I might have a gamble if it crashes hard.

what I find more fascinating is the stupidity of people, struggling to make a living and yet splashing it on expensive iPhone X and when they have some left, buying Bitcoins or a lotto ticket

Originally Posted by Dragonfly

what I find more fascinating is the stupidity of people, struggling to make a living and yet splashing it on expensive iPhone X and when they have some left, buying Bitcoins or a lotto ticket

You're making me feel bad about getting the wife an iPhone x for Xmas now......