Previous Thread
Next Thread
Print Thread
Rate This Thread
Hop To
Page 1 of 4 1 2 3 4
#4400547 - 01/17/18 04:14 PM Bitcoin is Melting Get Out Now  
Joined: Oct 1999
Posts: 15,786
Haggart Offline
I Fought Diablo
Haggart  Offline
I Fought Diablo
Veteran

Joined: Oct 1999
Posts: 15,786
The Lone Star State
[Linked Image]

https://seekingalpha.com/article/4137904-bitcoin-melting-get-now

... not that i ever got in in the first place


"everything lives by a law, a central balance sustains all"
Inline advert (2nd and 3rd post)

#4400552 - 01/17/18 04:24 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Apr 2001
Posts: 121,384
PanzerMeyer Offline
Pro-Consul of Florida
PanzerMeyer  Offline
Pro-Consul of Florida
King Crimson - SimHQ's Top Poster

Joined: Apr 2001
Posts: 121,384
Miami, FL USA
Surprise surprise. Not! This was indeed the 21st century version of Tulip Fever.


“Whoever fights monsters should see to it that in the process he does not become a monster. And if you gaze long enough into an abyss, the abyss will gaze back into you.”
#4400557 - 01/17/18 04:51 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Jan 2006
Posts: 9,570
Mr_Blastman Offline
Hotshot
Mr_Blastman  Offline
Hotshot

Joined: Jan 2006
Posts: 9,570
Atlanta, GA
Damn

#4400572 - 01/17/18 05:42 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Mar 2011
Posts: 2,042
cichlidfan Offline
Member
cichlidfan  Offline
Member

Joined: Mar 2011
Posts: 2,042
Woodbridge, VA, USA
No cryptocurrencies in my portfolio. I will stick with fads like Facebook and Amazon.


ASUS ROG Maximus VIII Hero, i7-6700K, Noctua NH-D14 Cooler, Crucial 32GB DDR4 2133, Samsung 950 Pro NVMe 256GB, Samsung EVO 250GB & 500GB SSD, 2TB Caviar Black, Zotac GTX 1080 AMP! Extreme 8GB, Corsair HX1000i, Phillips BDM4065UC 40" 4k monitor, VX2258 TouchScreen, TIR 5 w/ProClip, TM Warthog, VKB Gladiator Pro, Saitek X56, et. al., MFG Crosswind Pedals #1199, VolairSim Pit, Rift CV1
#4400580 - 01/17/18 06:15 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Jul 2009
Posts: 1,325
RossUK Offline
RossUK  Offline

Member

Joined: Jul 2009
Posts: 1,325
Eastbourne, UK
I wouldn't knock it. Q4 reports due soon, plus some unease in the Asian markets.

It's easy to dismiss it but I think crypto is here to stay. I have a modest account invested in Ripple, though at moment it's worth half what I paid for.

I'm keeping my investment and leaving in until end of year.

#4400581 - 01/17/18 06:29 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Mar 2001
Posts: 17,301
Nixer Offline
Scaliwag and Survivor
Nixer  Offline
Scaliwag and Survivor
Veteran

Joined: Mar 2001
Posts: 17,301
Living with the Trees
Ross you might want to do some research and reading about all the manipulation, botting, and just plain dishonest dealing going on.

Rearch has been done showing most of Bitcoins meteoric rise was due to the manipulation by one or two humans, with an army of bots.


Censored

Look for me on Twitter, Instagram, Facebook or Tic Toc...or anywhere you may frequent, besides SimHq, on the Global Scam Net. Aka, the internet.
I am not there, never have been or ever will be, but the fruitless search may be more gratifying then the "content" you might otherwise be exposed to.

"There's a sucker born every minute."
Phineas Taylor Barnum

#4400585 - 01/17/18 06:47 PM Re: Bitcoin is Melting Get Out Now [Re: Nixer]  
Joined: Jul 2009
Posts: 1,325
RossUK Offline
RossUK  Offline

Member

Joined: Jul 2009
Posts: 1,325
Eastbourne, UK
Originally Posted by Nixer
Ross you might want to do some research and reading about all the manipulation, botting, and just plain dishonest dealing going on.

Rearch has been done showing most of Bitcoins meteoric rise was due to the manipulation by one or two humans, with an army of bots.



Nixer,

Yeah I've read all about that stuff and I think some of it is true, some of it isn't. My personal view of my investment is it involves some good tech about speeding up money transfers and they are starting to make partnerships with well known banking brands. Hey, all investment is a risk and I've not put enough in to cause me financial harm. I was lucky that I bought in when it was peanuts so if it goes then all I've learned is I should stick to my day job!

#4400587 - 01/17/18 06:50 PM Re: Bitcoin is Melting Get Out Now [Re: Nixer]  
Joined: Dec 2008
Posts: 26,557
wheelsup_cavu Offline
Lifer
wheelsup_cavu  Offline
Lifer

Joined: Dec 2008
Posts: 26,557
Corona, California
Originally Posted by Nixer
Ross you might want to do some research and reading about all the manipulation, botting, and just plain dishonest dealing going on.

Rearch has been done showing most of Bitcoins meteoric rise was due to the manipulation by one or two humans, with an army of bots.


What a surprise...


Wheels


Cheers wave
Wheelsup_cavu

Mission4Today (Campaigns, Missions, and Skins for IL-2)
Planes of Fame Air Museum | March Field Air Museum | Palm Springs Air Museum
#4400591 - 01/17/18 07:05 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Mar 2011
Posts: 2,042
cichlidfan Offline
Member
cichlidfan  Offline
Member

Joined: Mar 2011
Posts: 2,042
Woodbridge, VA, USA
Cryptocurrencies may have their place, as do many other investment avenues, as a high risk (with the potential of high returns) investment opportunity. As long as one balances their risks properly, there is nothing wrong with placing such a bet. I still own 90k shares in a 'pot stock'. It was a risk that I was willing to take and the total losses, so far, have offset the tax burden on other stock sales that I have made over the past few years.

It is a rare individual that bats a 1000 in the stock market.


ASUS ROG Maximus VIII Hero, i7-6700K, Noctua NH-D14 Cooler, Crucial 32GB DDR4 2133, Samsung 950 Pro NVMe 256GB, Samsung EVO 250GB & 500GB SSD, 2TB Caviar Black, Zotac GTX 1080 AMP! Extreme 8GB, Corsair HX1000i, Phillips BDM4065UC 40" 4k monitor, VX2258 TouchScreen, TIR 5 w/ProClip, TM Warthog, VKB Gladiator Pro, Saitek X56, et. al., MFG Crosswind Pedals #1199, VolairSim Pit, Rift CV1
#4400640 - 01/17/18 11:24 PM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: May 2005
Posts: 9,703
Blade_RJ Offline
Simhq Weather man, dropping rain in your parade
Blade_RJ  Offline
Simhq Weather man, dropping rain in your parade
Hotshot

Joined: May 2005
Posts: 9,703
brasil
Can i finally upgrade my graphic card ? NVIDIA was pumping more cards into the market becouse of this mining, if this fad is out, there will be a surplus and price must go down right ?

#4400643 - 01/17/18 11:28 PM Re: Bitcoin is Melting Get Out Now [Re: Blade_RJ]  
Joined: Mar 2011
Posts: 2,042
cichlidfan Offline
Member
cichlidfan  Offline
Member

Joined: Mar 2011
Posts: 2,042
Woodbridge, VA, USA
Originally Posted by Blade_RJ
Can i finally upgrade my graphic card ? NVIDIA was pumping more cards into the market becouse of this mining, if this fad is out, there will be a surplus and price must go down right ?


Based on current prices, I would say not yet.


ASUS ROG Maximus VIII Hero, i7-6700K, Noctua NH-D14 Cooler, Crucial 32GB DDR4 2133, Samsung 950 Pro NVMe 256GB, Samsung EVO 250GB & 500GB SSD, 2TB Caviar Black, Zotac GTX 1080 AMP! Extreme 8GB, Corsair HX1000i, Phillips BDM4065UC 40" 4k monitor, VX2258 TouchScreen, TIR 5 w/ProClip, TM Warthog, VKB Gladiator Pro, Saitek X56, et. al., MFG Crosswind Pedals #1199, VolairSim Pit, Rift CV1
#4400644 - 01/17/18 11:29 PM Re: Bitcoin is Melting Get Out Now [Re: cichlidfan]  
Joined: Jan 2006
Posts: 9,570
Mr_Blastman Offline
Hotshot
Mr_Blastman  Offline
Hotshot

Joined: Jan 2006
Posts: 9,570
Atlanta, GA
Originally Posted by cichlidfan
Cryptocurrencies may have their place, as do many other investment avenues, as a high risk (with the potential of high returns) investment opportunity. As long as one balances their risks properly, there is nothing wrong with placing such a bet. I still own 90k shares in a 'pot stock'. It was a risk that I was willing to take and the total losses, so far, have offset the tax burden on other stock sales that I have made over the past few years.


Didn't buy TWMJF or APHQF, eh?

Both have fantastic fundamentals.

#4400650 - 01/17/18 11:55 PM Re: Bitcoin is Melting Get Out Now [Re: Mr_Blastman]  
Joined: Mar 2011
Posts: 2,042
cichlidfan Offline
Member
cichlidfan  Offline
Member

Joined: Mar 2011
Posts: 2,042
Woodbridge, VA, USA
Originally Posted by Mr_Blastman
Originally Posted by cichlidfan
Cryptocurrencies may have their place, as do many other investment avenues, as a high risk (with the potential of high returns) investment opportunity. As long as one balances their risks properly, there is nothing wrong with placing such a bet. I still own 90k shares in a 'pot stock'. It was a risk that I was willing to take and the total losses, so far, have offset the tax burden on other stock sales that I have made over the past few years.


Didn't buy TWMJF or APHQF, eh?

Both have fantastic fundamentals.


Nope. They both are looking good though. I made that bed about 7 years ago and the 10k investment hasn't killed me but I am staying away from similar investments for the time being.


ASUS ROG Maximus VIII Hero, i7-6700K, Noctua NH-D14 Cooler, Crucial 32GB DDR4 2133, Samsung 950 Pro NVMe 256GB, Samsung EVO 250GB & 500GB SSD, 2TB Caviar Black, Zotac GTX 1080 AMP! Extreme 8GB, Corsair HX1000i, Phillips BDM4065UC 40" 4k monitor, VX2258 TouchScreen, TIR 5 w/ProClip, TM Warthog, VKB Gladiator Pro, Saitek X56, et. al., MFG Crosswind Pedals #1199, VolairSim Pit, Rift CV1
#4400651 - 01/18/18 12:08 AM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Apr 2011
Posts: 178
harryw Offline
Member
harryw  Offline
Member

Joined: Apr 2011
Posts: 178
NV
On the other hand, as reported on Yahoo Financials as of today:
Invest!

Quote

Bitcoin (Exchange: BTC=) could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC on Tuesday. Kay Van-Petersen, an analyst at Saxo Bank, added that other rival digital coins could also outperform. Van-Petersen forecast in December 2016 that bitcoin would reach $2,000 in 2017 . At the time, bitcoin was trading below $900, according to CoinDesk, a website that tracks the price of digital currencies on a number of different exchanges. Bitcoin blew past the $2,000 figure in May. Van-Petersen said Tuesday that bitcoin could hit between $50,000 and $100,000 in 2018. "First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts," Van-Petersen said. The CME and Cboe both launched bitcoin futures trading contracts last year. The move was seen as a way to get more institutional investors involved in the cryptocurrency market and legitimize it. But trading got off to a light start . Van-Petersen said that more institutions will get on board over time, but it won't happen quickly. To reach $100,000, bitcoin would need to rally over 635 percent from Tuesday's highest price of $13,601.43, according to CoinDesk. Previously, Van-Petersen said that $100,000...

blah, blah, yatta, yatta.

Let's check back at the end of the year to re-evaluate Kay Van-Petersen's predictive powers.

#4400659 - 01/18/18 12:47 AM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Jun 2005
Posts: 16,082
- Ice Offline
Veteran
- Ice  Offline
Veteran

Joined: Jun 2005
Posts: 16,082
Philippines / North East UK
Um, did you guys read the article?? Page 7....

Quote
We are in a negative cycle now, and it is filled with numerous unfavorable developments such as government crackdowns, questions about functionality, decelerating technical momentum, worsening public and investor perception, and so on. Therefore, BTC is likely to see further downside over the short term. However, longer term the Bitcoin vision is alive and well. Bitcoin should establish a key, permanent place in the world’s economy a few years down the line, as it becomes more widely adopted as a global store of value and a worldwide medium of exchange.

Moreover, Bitcoin will likely be worth much more 5-10 years from now as we are still in the opening stages of this paradigm shift. The future economy will have a much bigger role for digital assets to play and Bitcoin could be an integral part of this digitally supported future economy. Therefore, while Bitcoin will likely go lower in the short term, the declines will likely present a great buying opportunity at discounted prices.

I don't think long-term investors should panic here, and I remain very constructive on Bitcoin long-term. However, due to the numerous negative short-term developments surrounding Bitcoin, I am lowering my 2018 end of year price target for Bitcoin from $50,000 to $40,000.


If that does happen, it'll put last year's high of $14K to shame.


- Ice
#4400663 - 01/18/18 01:01 AM Re: Bitcoin is Melting Get Out Now [Re: Haggart]  
Joined: Mar 2011
Posts: 2,042
cichlidfan Offline
Member
cichlidfan  Offline
Member

Joined: Mar 2011
Posts: 2,042
Woodbridge, VA, USA
True but when your future depends on it, you don't necessarily want to bet on the long odds. I made a lot of money on CAT a few years ago, however I wish I had held it since it is now way above what I sold it at. The stock market is a gamble, at best, and is subject to so many factors that it nearly impossible to make a reliable prediction beyond a year or two. Politics (especially international relations), for one thing, can have a profound effect on the market and that is an area that is virtually impossible to predict beyond the short term.

I make some long bets but I keep a majority of my investments in more secure stocks, bonds and other areas. My annual income is largely tied to the performance of the market and I like to ensure that it will be likely to increase every year. 2018's checks will be about 10% larger than 2017, so I am doing well by being a bit conservative.


ASUS ROG Maximus VIII Hero, i7-6700K, Noctua NH-D14 Cooler, Crucial 32GB DDR4 2133, Samsung 950 Pro NVMe 256GB, Samsung EVO 250GB & 500GB SSD, 2TB Caviar Black, Zotac GTX 1080 AMP! Extreme 8GB, Corsair HX1000i, Phillips BDM4065UC 40" 4k monitor, VX2258 TouchScreen, TIR 5 w/ProClip, TM Warthog, VKB Gladiator Pro, Saitek X56, et. al., MFG Crosswind Pedals #1199, VolairSim Pit, Rift CV1
#4400665 - 01/18/18 01:18 AM Re: Bitcoin is Melting Get Out Now [Re: cichlidfan]  
Joined: Jan 2001
Posts: 5,562
Airdrop01 Offline
Chief Pheasant Controller
Airdrop01  Offline
Chief Pheasant Controller
Hotshot

Joined: Jan 2001
Posts: 5,562
Kansas, USA
Originally Posted by cichlidfan
The stock market is a gamble, at best, and is subject to so many factors that it nearly impossible to make a reliable prediction beyond a year or two.


In all my years, I don’t think I’ve ever read a sentence that has so much wrong in so few words.

You described the exact opposite of the market over time.


"For I know the plans that I have for you," declares the Lord, "plans for welfare and not for calamity to give you a future and a hope." Jeremiah 29:11

Blessed are you when people insult you and persecute you, and falsely say all kinds of evil against you because of Me. Matthew 5:11

Indeed we call blessed those who have persevered. You have heard of the perseverance of Job, and you have seen the purpose of the Lord, because “the Lord is compassionate and merciful. James 5:11
#4400666 - 01/18/18 01:20 AM Re: Bitcoin is Melting Get Out Now [Re: - Ice]  
Joined: Apr 2011
Posts: 178
harryw Offline
Member
harryw  Offline
Member

Joined: Apr 2011
Posts: 178
NV
Originally Posted by - Ice
Um, did you guys read the article?? Page 7....


It's not much of a prediction if it needs to be adjusted every time there is a hick up. What he essentially says is "I was wrong yesterday". So what are the odds that he'll be right much, much further in the future? This, of course, goes for every pundit.

Quote
If that does happen, it'll put last year's high of $14K to shame.


It was actually almost $20K, not that it matters.

As cichlidfan wisely observes - lack of volatility is quite often preferable to *potential* growth.

#4400668 - 01/18/18 01:23 AM Re: Bitcoin is Melting Get Out Now [Re: Airdrop01]  
Joined: Mar 2011
Posts: 2,042
cichlidfan Offline
Member
cichlidfan  Offline
Member

Joined: Mar 2011
Posts: 2,042
Woodbridge, VA, USA
Originally Posted by Airdrop01
Originally Posted by cichlidfan
The stock market is a gamble, at best, and is subject to so many factors that it nearly impossible to make a reliable prediction beyond a year or two.


In all my years, I don’t think I’ve ever read a sentence that has so much wrong in so few words.

You described the exact opposite of the market over time.


You are correct. The sentence does not represent what I meant.

I was speaking in terms of specific issues (cryptocurrencies, in this case). In general, yes, the market trends do follow a predictable curve. However, that does not promise that a given stock will perform as well as the general trend of the market.


ASUS ROG Maximus VIII Hero, i7-6700K, Noctua NH-D14 Cooler, Crucial 32GB DDR4 2133, Samsung 950 Pro NVMe 256GB, Samsung EVO 250GB & 500GB SSD, 2TB Caviar Black, Zotac GTX 1080 AMP! Extreme 8GB, Corsair HX1000i, Phillips BDM4065UC 40" 4k monitor, VX2258 TouchScreen, TIR 5 w/ProClip, TM Warthog, VKB Gladiator Pro, Saitek X56, et. al., MFG Crosswind Pedals #1199, VolairSim Pit, Rift CV1
#4400670 - 01/18/18 01:26 AM Re: Bitcoin is Melting Get Out Now [Re: Airdrop01]  
Joined: Apr 2011
Posts: 178
harryw Offline
Member
harryw  Offline
Member

Joined: Apr 2011
Posts: 178
NV
Originally Posted by Airdrop01
Originally Posted by cichlidfan
The stock market is a gamble, at best, and is subject to so many factors that it nearly impossible to make a reliable prediction beyond a year or two.


In all my years, I don’t think I’ve ever read a sentence that has so much wrong in so few words.

You described the exact opposite of the market over time.


I understand as the gist of what was meant that if somebody is in stocks to chase above-average return, it is important to keep in mind that "The market can remain irrational longer than you can remain solvent".

Page 1 of 4 1 2 3 4

Moderated by  RacerGT 

Quick Search
Recent Articles
Support SimHQ

If you shop on Amazon use this Amazon link to support SimHQ
.
Social


Recent Topics
Carnival Cruise Ship Fire....... Again
by F4UDash4. 03/26/24 05:58 PM
Baltimore Bridge Collapse
by F4UDash4. 03/26/24 05:51 PM
The Oldest WWII Veterans
by F4UDash4. 03/24/24 09:21 PM
They got fired after this.
by Wigean. 03/20/24 08:19 PM
Grown ups joke time
by NoFlyBoy. 03/18/24 10:34 PM
Anyone Heard from Nimits?
by F4UDash4. 03/18/24 10:01 PM
RIP Gemini/Apollo astronaut Tom Stafford
by semmern. 03/18/24 02:14 PM
10 years after 3/8/2014
by NoFlyBoy. 03/17/24 10:25 AM
Copyright 1997-2016, SimHQ Inc. All Rights Reserved.

Powered by UBB.threads™ PHP Forum Software 7.6.0