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What happens eventually?

  • 04-01-2018 4:35pm
    #1
    Registered Users Posts: 921 ✭✭✭ benjamin d


    Despite all the talk of moons and bubbles, we all know this crazy crypto ride has to settle somewhere.
    What are your opinions on where this will end up? Will mass adoption/acceptance still mean huge returns for investors?
    Will it plateau after a major crash, or will we land on an unknown planet far outside the solar system?
    Will only a few coins survive or is there room for more players?
    Are Bitcoin's days as king numbered?
    So many people confidently predict max prices for coins based on hype and market cap and whatever, only to see their price blown out of the water almost instantly.
    Anyone got a crystal ball handy to have a stab at the long term picture?


Comments

  • Registered Users Posts: 2,978 ✭✭✭ dashoonage


    Hopefully for me it will end in a Thailand hotel surrounded by bales of coke and expensive hookers.


  • Registered Users Posts: 25,605 ✭✭✭✭ GreeBo


    I think the mass of Alts will die back to a still significant number of coins, each with a specific benefit/difference over the rest.

    I think BTC, ETH or possible some others will survive as the gold standard place to store wealth.


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise


    Im more concerned at how far, or not along the line I have entered the market before the inevitable downturn occurs, cause it cant continue like this..cant it?

    If its early doors then there is killing to be made, but I would like to have made lots of hay before the sun goes in.... Im just hoping its still the morning time, and not the evening time for cryptocurrencies.


  • Registered Users Posts: 2,072 ✭✭✭ ZeroThreat


    Im more concerned at how far, or not along the line I have entered the market before the inevitable downturn occurs, cause it cant continue like this..cant it?

    If its early doors then there is killing to be made, but I would like to have made lots of hay before the sun goes in.... Im just hoping its still the morning time, and not the evening time for cryptocurrencies.

    If you've invested any significant amount of fiat while entering into the crypto market, your first objective should be withdrawing enough profit to reimburse yourself, then the rest is an added bonus ;)


  • Registered Users Posts: 11,259 ✭✭✭✭ jester77


    I'm hoping that the nonsense of the last 12 months disappears and we can return to focusing on the actual technology and not its monetary value. I get the feeling that most people are clueless about what they are investing in and are only doing so in the hope of getting rich :o


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  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades


    jester77 wrote: »
    I get the feeling that most people are clueless about what they are investing in and are only doing so in the hope of getting rich :o
    *half raises hand*

    Outside of philanthropists, are people supposed to invest in something for other reasons than profit?


  • Closed Accounts Posts: 465 ✭✭ Ewan Hoosarmi


    ZeroThreat wrote: »
    If you've invested any significant amount of fiat while entering into the crypto market, your first objective should be withdrawing enough profit to reimburse yourself, then the rest is an added bonus ;)
    This, 100%. Get your seed out and then aim as high as you like.

    Crypto is like other stuff that has gone before it. If everyone decided to sell, there wouldn't be enough FIAT cash to cover everyone. There is nothing adding value. There is no physical backing. It feels a bit Ponzi'ish, which is the reason I didn't put a spare €1000 into it in 2010 ($0.10). :D:D Shoulda, woulda.


  • Registered Users Posts: 921 ✭✭✭ benjamin d


    Yeah I think a run on any of the major exchanges would be catastrophic and would have the potential to kill the whole thing. If governments come down hard on the unregulated industry a lot of the money could be scared off.

    I make no secret of the fact that I know little about the tech outside of as an investment, and I'd go as far as to say I'm comfortably in the majority in that.


  • Registered Users Posts: 3,047 ✭✭✭ PokeHerKing


    benjamin d wrote:
    Yeah I think a run on any of the major exchanges would be catastrophic and would have the potential to kill the whole thing. If governments come down hard on the unregulated industry a lot of the money could be scared off.


    The great thing about the exchanges is they go offline when there's a crash in prices.

    So even if you want to sell, you can't. It's a new kind of ponzi scheme and I for one am happily filling my bootsðŸ˜


  • Posts: 0 ✭✭✭ Jazlynn Attractive Lawn


    ZeroThreat wrote: »
    If you've invested any significant amount of fiat while entering into the crypto market, your first objective should be withdrawing enough profit to reimburse yourself, then the rest is an added bonus ;)

    Ideally that's what I thought when I entered crypto trading a few weeks ago and I do agree.

    Already, I'm getting to that point now myself where I can take out a significant portion of my initial investment, and still have more than my initial investment left in the market.

    But, not only do I feel the urge to hold, I want to put some more into my main coins while they are still what I see as a reasonable price, like IOTA and VeChain.

    I will take something out soon though. If only to do the FIAT withdrawal once and become familiar with the process. As of now, getting my money into the market has been no problem. I really must see what it's like to get some out.


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  • Registered Users Posts: 11,259 ✭✭✭✭ jester77


    Dades wrote: »
    *half raises hand*

    Outside of philanthropists, are people supposed to invest in something for other reasons than profit?

    I've nothing against investing to make profit, but most people would normally do a little bit of research before investing. I doubt there are too many people that blindly buy shares, but here it is different. The last 12 months has been nothing but memes, to the moon, hodl, lambos, etc

    And this is a real shame, as there is serious potential for the technologies but they are being over shadowed by what their worth. Most of the coins are still only vaporware and have yet to prove themselves with any type of meaningful product, yet people are just hoping they land on that one magic coin that will actually materialise into something special and make them rich as a result.


  • Registered Users Posts: 921 ✭✭✭ benjamin d


    jester77 wrote: »
    I've nothing against investing to make profit, but most people would normally do a little bit of research before investing. I doubt there are too many people that blindly buy shares, but here it is different. The last 12 months has been nothing but memes, to the moon, hodl, lambos, etc

    And this is a real shame, as there is serious potential for the technologies but they are being over shadowed by what their worth. Most of the coins are still only vaporware and have yet to prove themselves with any type of meaningful product, yet people are just hoping they land on that one magic coin that will actually materialise into something special and make them rich as a result.

    As long as that's still a realistic way to make a huge profit it won't change. If someone put 100 quid on each of the top 100 coins six months ago they'd probably be close to a millionaire now (I haven't done any sums on that). With that potential it's a no brainer to throw spare money at any and all sh*tcoins.


  • Registered Users Posts: 7,500 ✭✭✭ Sabre0001


    benjamin d wrote: »
    As long as that's still a realistic way to make a huge profit it won't change. If someone put 100 quid on each of the top 100 coins six months ago they'd probably be close to a millionaire now (I haven't done any sums on that). With that potential it's a no brainer to throw spare money at any and all sh*tcoins.

    Someone did (the math that is)

    https://twitter.com/CryptoBoomNews/status/948057731151417344

    🤪



  • Registered Users Posts: 921 ✭✭✭ benjamin d


    Sabre0001 wrote: »

    Well there ya are now, thanks!

    So my point is probably pretty close using the top 100


  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades


    jester77 wrote: »
    I've nothing against investing to make profit, but most people would normally do a little bit of research before investing. I doubt there are too many people that blindly buy shares, but here it is different. The last 12 months has been nothing but memes, to the moon, hodl, lambos, etc

    And this is a real shame, as there is serious potential for the technologies but they are being over shadowed by what their worth. Most of the coins are still only vaporware and have yet to prove themselves with any type of meaningful product, yet people are just hoping they land on that one magic coin that will actually materialise into something special and make them rich as a result.
    Are the companies developing the best technologies the ones experiencing the deserved gains? Or is the best marketed/shilled coins ran by high profile types?

    Perhaps part of the problem is 24hr, hugely volatile trading. You don't get the time to sit down and analyse.

    It's worthwhile reading whitepapers for sure, but sometimes if you see people running quite fast in one direction down a street the smartest thing to do is join them. Preferably towards the front.

    Ultimately I see it like a game of musical chairs. When the music stops there won't be enough chairs to go around.


  • Banned (with Prison Access) Posts: 1,648 Autochange


    dashoonage wrote: »
    Hopefully for me it will end in a Thailand hotel surrounded by bales of coke and expensive hookers.

    Cocaine in Thailand? You will be paying your get out of jail bribe in crypto


  • Closed Accounts Posts: 1,115 ✭✭✭ asteroids over berlin


    It's quite simple, many of these projects/coins will evolve into corporations/companies in their own right etc, some will be huge i.e. googles, facebooks, some will be big, some medium, some niche, many of the ****coins will fail and fold up!


  • Registered Users Posts: 2,655 ✭✭✭ thunderdog


    Sabre0001 wrote: »

    interesting! I thought it might be useful to assess what the top 20 coins (by market cap) were at Jan-17 (rather than now), and put 100 on each, to see what the total value would be today.

    Not too shabby!

    tsbX0Rx.jpg


  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar


    It's quite simple, many of these projects/coins will evolve into corporations/companies in their own right etc, some will be huge i.e. googles, facebooks, some will be big, some medium, some niche, many of the ****coins will fail and fold up!

    This. I'm not sure we'll see the same crazy gains like above this year but overall its still going to be massively profitable. The amount of money coming in will be staggering this year. We are now at 800bn market cap, we were at 100bn only a few months ago. We'll be at 3-5 Trillion by the end of the year i'd say. We'll have a few corrections but I personally doubt there will be any real crash as such. This is not Tulips - its backed by the greatest technological revolution since the internet and its happening at breakneck speed. We've already seen the owner of Ripple become one of the richest men in the world, we're going to see more of this. Many of these sh1tcoins will go to nothing but as above, tomorrow's new giants are being born right now, and we get to invest in them - sometimes even before they have an actual product.


  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades


    Zascar wrote: »
    We've already seen the owner of Ripple become one of the richest men in the world
    Unless he cashed out (and is not stuck getting verified on Coinbase) he's only potentially of the richest men in the world.

    Imagine how many times an hour he refreshes Blockfolio. :p


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  • Registered Users Posts: 4,310 ✭✭✭ jon1981


    Dades wrote: »
    Unless he cashed out (and is not stuck getting verified on Coinbase) he's only potentially of the richest men in the world.

    Imagine how many times an hour he refreshes Blockfolio. :p

    This is a good question. Would it even be possible for him to cash this out?


  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades


    jon1981 wrote: »
    This is a good question. Would it even be possible for him to cash this out?
    Pretty sure there'd be restrictions on that kind messing. It's no different than Bill Gates and his Microsoft stock, except the chances of Microsoft stock dropping to $0.01 are unlikely, whereas in cryptoland no-one is safe.


  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar


    If he tried to it would send the price tumbling so its practically impossible, so as Dades said he is not paper but not really.


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