Thread: RIP Bitcoin

Ain't gonna top out for a few years yet.

Thank You for the Red Luigi.

Wonderful this BTC is when Satoshi is an alias.

Climb aboard the freight trains! aka blockchains

Originally Posted by Luigi

Ain't gonna top out for a few years yet.

OK, fuck it, I'm in...

Please set everything up for me and let me know where to pick my winnings up from.

No problemo, Signore Robertson.


Lulu's a man you can trust.

No really, I started to sign-up to that coins.co place and then it started asking me all kinds of tricky questions so I quit.

In all seriosity though if you Google "Thai bitcoin" you get several websites all saying they're the 'leading/biggest/bestest'. Dodgy.

Originally Posted by jabir

Now safely on the Luigi bandwagon and looking at a couple of other similarly foolish investments; thanks, Dragon, you made me a believer.

there is no shortage of fools in this world, and you had experience as a Gold nutter

happy to contribute in making you a bigger fool

Originally Posted by AntRobertson

I started to sign-up to that coins.co place and then it started asking me all kinds of tricky questions so I quit.

Lol

Think I was asked for a photo of me passy, a photo of me holding me passy and a piece of paper with coins.co.th written on it.


Their current buy rate is 576,323.38 THB. So say a tentative buy of 144,000thb for 0.25 BTC.

Could be kicking yerself on X-mas eve it's double that.



Or laughing if it's half.

Decent odds though.

I first bought in at 296,000thb I think, just over a week ago.

Originally Posted by Luigi

Think I was asked for a photo of me passy, a photo of me holding me passy and a piece of paper with coins.co.th written on it.

Eek! Isn't there one with a more simple sign-up process?

Mind I suppose I could ask my fan club on TC - they'll probably have those pics lying around somewhere.

5555


Don't think so. It's security for your account, in case of forgetting passwords etc. Probably also a legal requirement. Governments don't really like places where you could just sign up with a bank account number and start dealing transfers cash in and out willy-nilly-o.


Can do 150k thb in/out per day with just ID verification. Need to verify your address with a photo of your yellow book or rental contract or whatever to be able to do 600k thb per day.

Originally Posted by Headworx

^^^So you've only just got into this, but were advising people to hold @ $10k?. Why the hell would they listen to you??.

I just got into this myself, with BX Thailand, and was set-up ready to go in about 3 or 4 hours. Put enough money in to have a keen interest in things but not enough to change my lifestyle if it goes total bust. Like everyone else (except those who got in from day-1) I wish I'd have got in earlier, but having said that, in 3.50 days I've made a very tidy sum. One thing I do know for sure is since about 2 weeks ago when I first starting taking notice of this, there was a feeling of nausea in my gut 24/7 that I was missing out on a once in a lifetime cash-cow. Looking at the price each morning after a restless night sleep only made things worse, much fucking worse. That feeling is gone now and sleep comes easy.

And if I lose the lot, I'll still sleep well knowing I have other investments that are doing ok but like so many others right now, I had a go at Bitcoin and it was a hell of a ride!. Thanks to the guy here who's helped me a lot via PM's too.

well that thread has some value, it reveals who are the Chavs on this forum

Chav == chasing every get rich deals while teaching English for a living

This thing feels like its in the Euphoria stage of the bubble cycle. That phase typically consists of an absurd buying frenzy where everyone and their mom gets in on a "can't lose" deal (this stage is also called FOMO, or "fear of missing out"). This one is actually even worse because for whatever reason bitcoin is attracting people who have never invested anything in anything before.

The next phase of the bubble cycle normally consists of the conclusion, where all the smart money bails out with the price bottoming out, leaving the suckers high and dry.

The question is: Is bitcoin the same as other historical bubbles, or is there something about the instrument that makes it fundamentally different from basically all other bubbles (which is really what you have to believe at this point to think this can continue, essentially that bitcoin defies all previous historical norms because of its intrisic whatever).

I have no idea which of those things is true (ie the smart money bailing out or bitcoin continuing this unprecendented rise). I have an opinion about which is more likely though

Originally Posted by redhaze

this stage is also called FOMO, or "fear of missing out"

Guilty as charged.

I wouldn't begrudge anyone for throwing a few thousand bucks at it. I mean why not? Risk to reward is pretty small if you don't spend much

Originally Posted by Headworx

If you can't handle 50% price drops, you can't handle 500% gains.

it's actually not a bad motto, personal investing has a lot to do with resisting to stress, one way or another

if you are anxious about missing out, this should tell you are not ready to invest properly, only emotionally, and investing and emotions don't mix very well

Originally Posted by dragonfly

personal investing has a lot to do with resisting to stress, one way or another

Very true. Anyone who thinks all these newbs throwing money at this in the hopes of getting rich quick aren't going to bail en masse at the first sign of problems don't understand the first thing about how hard it is to stomach big losses. Its almost something you have to experience a few times to understand. The new investors to this are the same people who are going to send the price plummeting some day, I have absolutely zero doubt about that. But the question on when that happens, and how high it goes until then, that's anyone's guess....

The price action I think is giving us some clues on that though

Originally Posted by Luigi

Their current buy rate is 576,323.38 THB.

Buy: 626,003.77 THB | Sell: 586,383.28 THB


Nice 30 minute bump.

Originally Posted by redhaze

Its almost something you have to experience to understand.

absolutely, and that's why you can't invest emotionally

and bitcoins is all about emotions, and no exceptions to other bubble scams like it

Originally Posted by redhaze

These people are going to send the price plummeting some day, I have absolutely zero doubt about that

and they won't be able to withdrawal any money when those small exchanges will shutdown or lock them out, so much for being secure

Originally Posted by Dragonfly

it's actually not a bad motto, personal investing has a lot to do with resisting to stress, one way or another

if you are anxious about missing out, this should tell you are not ready to invest properly, only emotionally, and investing and emotions don't mix very well

That makes a lot of sense...

Originally Posted by redhaze

Very true. Anyone who thinks all these newbs throwing money at this in the hopes of getting rich quick aren't going to bail en masse at the first sign of problems don't understand the first thing about how hard it is to stomach big losses. Its almost something you have to experience a few times to understand. The new investors to this are the same people who are going to send the price plummeting some day, I have absolutely zero doubt about that. But the question on when that happens, and how high it goes until then, that's anyone's guess....

The price action I think is giving us some clues on that though

...and so does that...

Originally Posted by Luigi

Buy: 626,003.77 THB | Sell: 586,383.28 THB


Nice 30 minute bump.

...BUT!!!

Originally Posted by Dragonfly

well that thread has some value, it reveals who are the Chavs on this forum

Chav == chasing every get rich deals while teaching English for a living

Teaching English for a living?. Over 30 years of oilfield work around the globe and a very healthy financial position says you don't know who's a chav and who isn't. Aren't you a poof though?.

Originally Posted by AntRobertson

...BUT!!!

Right?! And who can honestly say they aren't kicking themselves for having not gotten in sooner?

My story is the same as likely so many others: I was going to pull the trigger on a couple coins over a year ago but couldn't find an exchange I felt was reputable enough (this was right around the whole Mt. Vox debacle to give a clue on the timeframe, I can't remember exactly when that was). Of course I wish I would have taken my chances now LMAO...

I'm not really much tempted today though. I've seen this story before and it doesn't end well (or at least it never really has before)

while i agree that there are a lot of individual investors helping this insane rise, i think that the main reason it has taken off over the last week or so is that large financial institutions are throwing money behind it. it went up 40% in 40 hours for god's sake. IMO, eventually the big boys are going to short it (and there are non-traditional ways to short bitcoin).

if/when that happens, look out below.

another question people should be asking is whether or not it happens before or after dec.31st....do the wall st. trypes want to pay the significant taxes now or put it off until later.

Originally Posted by Headworx

Teaching English for a living?. Over 30 years of oilfield work around the globe and a very healthy financial position says you don't know who's a chav and who isn't. Aren't you a poof though?.

ok I should have included dumb oil workers living as sexpat in Pattaya and trying to put money into scams to have a sense of purpose in life,

how is that ?

Chavs == Suckers

^ a lot of those suckers are up quite a bit over the last few days.

i think if it were me (and i got in at $3,000 or the like), i'd pull my initial investment and leave whatever profit i had with a trailing stop loss of 20-30%.


but i didn't....so i'm just watching it like a sporting event that i wish i put a bet down on.

^^Well this "Sucker" has made 6 figures profit in about the time it probably takes you to get the taste of cum out of your mouth so that's a fair trade then, one sucker vs the other type of sucker.

Originally Posted by raycarey

so is that large financial institutions are throwing money behind it

I don't think so, with compliance and new regulations, they wouldn't put money into those dodgy exchanges without taking the risks of being sued by their shareholders if something went wrong

that's why regular exchanges like CME Group are now offering an index, it's going to help create a real benchmark for price (yet flawed) and help in price discovery for other investors