Buying bitcoins

makeorbrake wrote: »

I don't think crypto should go beyond 10% of our overall wealth....don't put yourself in that position - it's not a healthy place to be! That's what I would say to the rest of you that are still in. Best of luck to you.

Don't worry, the way prices are dropping it's rapidly becoming only 10% of my wealth!

rob316 wrote: »

One of the directors in our job, bought 50 BTC in Sept 17 roughly $5000 each, he's holding in a long term position on those, he also bought another 50 in December at about $17k each and he's ****ting himself. He's still convinced BTC will be worth north of 30k next December.

I understand that this is heresy but I think the market might leave bitcoin behind this year.

Shauny2010 wrote: »

Bitcoin still has a lot of weight on the market, coinmarketcap valuations are skewing the dominace of bitcoin. There are loads of coins out there with next to zero track record and trading with market caps of several billion. Some of these valuations are ridiculous, they have billions of coins/tokens issued so if they sell 1 token for a dollar it gives them a multi billion market cap.
As for Bitcoin, Don`t write it off, its still the most tested coin, has the best and most resilient network, unlike the other top coins
If anything the market is going to follow bitcoin either up or down. And when the market turns bullish again it will be after bitcoin drags itself back up first.

I think adoption of block chain tech is going to be the driving force in 2018. The likes of neo and ethereum along with many others are very well positioned to take advantage of this.
What can bitcoin do in this environment. Its a one trick pony, albeit a great trick.
The more companys and coins that come online the less market share bitcoin will have.
Coins as a payment method are a good way off being accepted in the mainstream, unlike block chain platforms.
Its certainly not the end of bitcoin but i think it might be a slow year for it.
Just my opinion and completely aware im in the minority with it

seannash wrote: »

I think adoption of block chain tech is going to be the driving force in 2018. The likes of neo and ethereum along with many others are very well positioned to take advantage of this.
What can bitcoin do in this environment. Its a one trick pony, albeit a great trick.
The more companys and coins that come online the less market share bitcoin will have.
Coins as a payment method are a good way off being accepted in the mainstream, unlike block chain platforms.
Its certainly not the end of bitcoin but i think it might be a slow year for it.
Just my opinion and completely aware im in the minority with it

Neo and ethereum or any others can't take bitcoins main use case.... as a store of value... bitcoins been around the block, decentralised and never been hacked... ethereum cant say that...
Personally i think bitcoin in two or three years will be 30k plus maybe more.... it will little by little eat into other asset classes market share.

seannash wrote: »

Ethereum and Bitcoin are two different products though. Ethereum isn't trying to be a store of value
I just think we are a bit aways from using bitcoin as a payment method in everyday use. Biggest growth will be in platforms this year (I think)
I said on another thread, I'd love to see bitcoin rise in value massively this year as its good for everyone if it does.

i think we are a ways away from using anything as a payments system to be fair... although lightning network seems to be making great strides...

My one worry about ethereum price is that a lot of it is based on ico mania... when fatigue sets in there what happens....could be a long time though

2017 was the year of the Alts. Like the .NET boom back in the day, any **** company that went online was valued at millions and billions. The same has happened with Alts.

Any Alt with a little bit of smart marketing has gone crazy. Like seriously some guy created a coin called PonziCoin with a website that said it was a fake coin and was clearly a joke. But they still managed to raise 100k of capital.

The total crypto market cap (as listed on coinmarketcap.com) was 19 billion at the beginning of 2017 and peaked at 830 billion at the beginning of january. Thats ****ing crazy.

Bitcoin is now crashing hugely while other other coins which actually have value are maintaining or have slight decreases or increases, which opposed to bitcoin just has its history of being the first. ETH for example is fairly stable the last while in relation to bitcoins demise anyway.

The Walshs' send their regards....

y'all need andreas

Blacktie. wrote: »

Lol yeah like 0.5% worth removed. Really end of days stuff if that happens.

You're totally missing the point don't mind me saying.

using the total market cap is not a good way of trying to calculate the impact of a sudden removal of $2billion BTC

Total market value = coin price × total circ supply of coin
It's not a true representation of what is being traded 'live'

(eg) if I have 100 cakes for sale and someone pays me $1 for one then does that mean I have $100 worth of cakes?...No cause i still have 99 to sell.
Using your (0.5%) theory; Then I had to throw out half a cake cause it spoiled...No big deal right? Yea, but that's not the possible impact..


But what has potentially happening with USDT is that $2billion worth of USDT only has $400million bond securing/backing it up of already traded BTC (the 'already' bit is important)

To correct the market and get the 'real' current BTC value then a $2billion correction would need to be made - to write off the USDT.

So using the cake theory again...

I have just sold all 100 of my cakes, moved onto making the next batch and I now have customers coming back demanding I give them money back as I false advertised them as having an apple filling but there was none.
My reputation is in tatters and I've had to refund money from my takings (remember the already traded bit)


There is a big difference between both cake examples.

Bit silly but I hope you get my point.

WhiteMemento9 wrote: »

Did we just hit support levels? $8.3k --> 9k just now on coinbase.

Dead cat bounce?

The butcher has got his primal cuts and ready to flame up the grille. Sad day for all. Anyone cashing out

Great time to be buying in i’d think. If i had the cash spare i’d be going back in. Luckily still doing well on my initial investment but down 50% from where it was around xmas. Ven has saved me