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Is anyone else starting to become a bit worried? mod note in first post

  • 30-01-2018 4:35pm
    #1
    Banned (with Prison Access) Posts: 1,648 Autochange
    Banned


    Bear markets
    Fud
    Regulation
    Wall Street manipulation
    The supposed tether ticking time bomb

    What are your thoughts? Have you cashed out? Have you been buying the dips?


    MOD NOTE:
    Its good to see healthy debate and discussion taking place and I am sure every supporter of cryptocurrency and blockchain can agree that the contrarian viewpoint is worthwhile reading, if only to act as an anchor and help prevent investors from getting carried away in an echo chamber of "everything is wonderful, just keep going"

    However, there have been a few reported posts recently which I did not action as I wanted to see the thread level out itself rather than start forcing viewpoints and I have been in two minds about that decision.

    I'm not going to single any posters out but I'm going to ask that all posters read the forum charter and I want to point out that it was established years ago in the Television forum, that dropping in on a forum to tell the followers of that forums topic (in that case a particular tv show) that it was all crap and only idiots watched it etc etc was the exact definition of being a dick and attempting to troll. I know this because I was the mod of the forum at the time. Now look at the forum charter again.

    There is pretty much one rule on this forum : if you cannot discuss in a civil manner, and I mean discuss, not soapbox or attack, then you have absolutely no business posting here and I have no qualms about removing your ability to do so.

    This forum is for people that have in interest in cryptocurrencies, blockchain and their application to financial investments. that can be positive or negative but if you really feel the need to start pulling out memes / hiding insults in imaginary hashtags / attacking personalities or just generally being a dick there are other forums you can post in where I will let the local mods determine if it is within the scope of allowable behaviour. Here, it is not.


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Comments

  • Moderators, Society & Culture Moderators Posts: 15,424 Mod ✭✭✭✭ smacl
    Moderator


    Autochange wrote: »
    Bear markets
    Fud
    Regulation
    Wall Street manipulation
    The supposed tether ticking time bomb

    What are your thoughts? Have you cashed out? Have you been buying the dips?

    Don't have a huge amount invested, so if it all went pop in the morning I'd be disappointed but no more than that. I'm confident that the underlying technology will thrive long term and would hope a number of the existing coins will too. No interest in cashing out any time soon unless any of my coin sees a massive rise in value, at which point I'll take half out. If anything, I may well invest more in the coming months, possibly through a mining rig.


  • Registered Users Posts: 6,051 ✭✭✭ Truckermal
    Registered User


    I have about 13K in litecoin but not really worried! I stuck 700 quid in early December and sold out high. I left it and bought in at 160 euro so I'm still down but not worrying! Just read back the old threads it will come up again!


  • Registered Users Posts: 14,625 ✭✭✭✭ banie01
    Registered User


    Truckermal wrote: »
    I have about 13K in litecoin but not really worried! I stuck 700 quid in early December and sold out high. I left it and bought in at 160 euro so I'm still down but not worrying! Just read back the old threads it will come up again!

    As financial advisors are wont to advise, past performance is not an indicator of future success ;) there is a bunker mindset with crypto that each dip must be HODLed through and the moon awaits.
    There will eventually be a dip that will lead to a pricing equilibrium.
    That said I'm not too worried, but its one of those dip evemts that will hurt newer entrants badly given how its rippling out.


  • Closed Accounts Posts: 59 ✭✭✭ Dane Steep Businessman


    I cashed out everything, better take it out sooner than later.


  • Registered Users Posts: 6,051 ✭✭✭ Truckermal
    Registered User


    banie01 wrote: »
    As financial advisors are wont to advise, past performance is not an indicator of future success ;) there is a bunker mindset with crypto that each dip must be HODLed through and the moon awaits.
    There will eventually be a dip that will lead to a pricing equilibrium.
    That said I'm not too worried, but its one of those dip evemts that will hurt newer entrants badly given how its rippling out.

    Exactly and as I told other people investing in Crypto is done with money you don't need. I know 11k is a lot but it was funded between a work bonus and tax rebates.


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  • Registered Users Posts: 15,135 ✭✭✭✭ Dohnjoe
    Registered User


    Still up an extraordinary amount since end of November. People have irrational expectations of this market, it can dip 20% after climbing several hundred percent and they think it's all over. Would be unsurprised at further dips (like June and July this year)


  • Moderators, Society & Culture Moderators Posts: 15,607 Mod ✭✭✭✭ Manic Moran
    Moderator


    I'll get worried when it starts to approach the values I put into it. I'm still running a reasonable 'profit.' I'm disappointed there hasn't been a stead re-climb (I had thought one had started), but I'm not exactly panicking.


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


    If you compare to even just 12 months ago, the rise has been ridiculous. It can still fall along way and not even get close to where things were this time last year.


  • Registered Users Posts: 476 ✭✭ AH92
    Registered User


    Been buying the dips, There's always some sort of fud that creeps up but doesn't bother me and i'm just gonna keep holding long term. (IRON HANDS)


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


    And there goes the tether time bomb. Tether have been on their Twitter defending their position.

    I know some of you have mentioned last year's gains but im interested in this year. Last year is gone.

    Hodl strong regardless.


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  • Registered Users Posts: 23,463 ✭✭✭✭ lawred2
    Registered User


    Tether was always going to be a scam. Too easy to walk off with those juicy dollars.

    A one to one reserve... Lol at the stupidity of anyone trusting that.


  • Registered Users Posts: 23,463 ✭✭✭✭ lawred2
    Registered User


    The speed at which exchanges adopted tether is also a concern. Where was their due diligence?


  • Closed Accounts Posts: 2,021 lifeandtimes


    It's the same every year.

    There has to be a fall for a rise to be worth it.

    If it went up none stop or even stalled by a few percent and went up there would be something wrong.

    But it's the end of the month and Chinese New year. Everyone selling to pay for travel costs, presents and to pay back any loans.

    Really it's a discount sale for any person who knows what they're doing.

    "But the dip and margaritas you will sip"


  • Registered Users Posts: 1,223 pro_gnostic_8
    Registered User



    But it's the end of the month and Chinese New year. Everyone selling to pay for travel costs, presents and to pay back any loans.
    At the start of this January the total market cap of crypto was $830 Billion. Right now it stands at $520 Billion ......... a drop of over $300 Billion. That kind of money buys a lot of toiletries and train tickets!


  • Registered Users Posts: 6,306 ✭✭✭ EagererBeaver
    Registered User


    Autochange wrote: »
    I know some of you have mentioned last year's gains but im interested in this year. Last year is gone. .

    What an utterly daft comment.


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


    What an utterly daft comment.

    How is it daft exactly?


  • Registered Users Posts: 6,306 ✭✭✭ EagererBeaver
    Registered User


    Autochange wrote: »
    How is it daft exactly?

    Because saying "I only care about this year" blinds you to historical trends that may give you an understanding of how a crypto market can work.


  • Registered Users Posts: 5,672 ✭✭✭ seannash
    Registered User


    lawred2 wrote: »
    The speed at which exchanges adopted tether is also a concern. Where was their due diligence?

    Honestly not trying to come across high and mighty but how long have you been investing.


  • Closed Accounts Posts: 2,021 lifeandtimes


    Autochange wrote: »
    How is it daft exactly?

    As much as people on the crypto world (myself included) like think crypto is different and unique it still follows the age old patterns and ways.

    What goes up must come down, 1 in the hand is worth 2 in the Bush, life will find a way etc

    There's been a pattern the last 4 years of a dip and then a recovery over the year, it's getting predictable and common bar a few discrepancies.

    The only way it will change is if there's a massive overhaul in the crypto world with regulation but until then just ride the rollercoaster


  • Registered Users Posts: 23,463 ✭✭✭✭ lawred2
    Registered User


    seannash wrote: »
    Honestly not trying to come across high and mighty but how long have you been investing.

    Crypto? Only 2016 but regretfully not in amounts that could have really taken advantage of last year.


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  • Registered Users Posts: 5,672 ✭✭✭ seannash
    Registered User


    lawred2 wrote: »
    Crypto? Only 2016

    Thanks, i guess you've experienced most of this before.
    What makes this instance different in your opinion


  • Registered Users Posts: 23,463 ✭✭✭✭ lawred2
    Registered User


    seannash wrote: »
    Thanks, i guess you've experienced most of this before.
    What makes this instance different in your opinion

    I don't. There's always some form or another of fud.

    The only thing that surprises me is how long the tether scam lasted.


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


    Because saying "I only care about this year" blinds you to historical trends that may give you an understanding of how a crypto market can work.

    Perhaps I should have rephrased my comment as something along the lines of although we had huge gains last year this year presents new challenges eg possible widespread regulation, tether collapse etc. So with all things considered going forward how do people feel about the market.
    That would have been better.


  • Registered Users Posts: 6,306 ✭✭✭ EagererBeaver
    Registered User


    I'm not sure how much you've invested, but if you're "worried" my advice would be get out now. I was the same the first crash I went through. Fully prepared to lose the investment but kicking myself having watched huge gains obliterated in no time at all and panicked. If you're not prepared to lose it, get out.


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


    I'm not sure how much you've invested, but if you're "worried" my advice would be get out now. I was the same the first crash I went through. Fully prepared to lose the investment but kicking myself having watched huge gains obliterated in no time at all and panicked. If you're not prepared to lose it, get out.

    I don't wont be getting out despite my ranting in the previous posts. I have a belief that the tokens I hold will succeed. It's the market that's the problem! Seems like everyone non crypto is against it at the minute. I just read there how Cryptopia's bank has withdrawn it's support for the exchange.

    https://i.stuff.co.nz/business/101038176/bank-pulls-support-for-cryptocurrency-platform-cryptopia


    Hopefully things settle down soon and get back on track. There are a couple of big weeks and months ahead with change overs .


  • Registered Users Posts: 8,718 ✭✭✭ Matt Simis
    Registered User


    At the start of this January the total market cap of crypto was $830 Billion. Right now it stands at $520 Billion ......... a drop of over $300 Billion. That kind of money buys a lot of toiletries and train tickets!

    Lets not forget that the values quoted are simply number of tokens x price per unit. Actual market $$ valuations are not actually really anywhere even close to that as most tokens are not sold/traded in volume (they are held). If they were, the price would tank.. meaning the valuations would go down drastically.


  • Registered Users Posts: 1,317 ✭✭✭ Dr Bolouswki
    Registered User


    Before you sell it is your hope's and dreams - it only becomes money when you sell it. Set yourself an expected value line and stick to it. When it crosses that line - sell. No regrets No remorse METAL IN YOUR FACE!!!!! \,,/,


  • Registered Users Posts: 117 ✭✭ Squozen
    Registered User


    If I manage to break even this year I'll be happy, but I'm feeling increasingly like that's not likely to happen. Fortunately I just got a €6k payrise at rise which is exactly how far underwater I am!


  • Registered Users Posts: 5,672 ✭✭✭ seannash
    Registered User


    Squozen wrote: »
    If I manage to break even this year I'll be happy, but I'm feeling increasingly like that's not likely to happen. Fortunately I just got a €6k payrise at rise which is exactly how far underwater I am!
    But its only been a month or so since most coins ATH. I understand the negative thoughts and feelings but as long as most of your money is in good quality coins I'd be optimistic.
    If your money is all in moon shots I'd change them over to safer coins and it might give you some piece of mind.
    (Obviously nothing is 100% safe but you get my meaning)


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  • Registered Users Posts: 117 ✭✭ Squozen
    Registered User


    seannash wrote: »
    But its only been a month or so since most coins ATH. I understand the negative thoughts and feelings but as long as most of your money is in good quality coins I'd be optimistic.
    If your money is all in moon shots I'd change them over to safer coins and it might give you some piece of mind.
    (Obviously nothing is 100% safe but you get my meaning)

    I'm in Bitcoin, but besides the lightning network I don't see anything that might push the price back to where I bought in. Then again, even my index funds are collapsing right now!


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