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

  • 30-01-2018 5:35pm
    #1
    Banned (with Prison Access) Posts: 1,648 ✭✭✭Autochange


    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: 15,776 Mod ✭✭✭✭smacl


    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, Registered Users 2 Posts: 6,047 ✭✭✭Truckermal


    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, Registered Users 2 Posts: 16,932 ✭✭✭✭banie01


    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 ✭✭flc37ie6ojwkh8


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


  • Registered Users, Registered Users 2 Posts: 6,047 ✭✭✭Truckermal


    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, Registered Users 2 Posts: 18,189 ✭✭✭✭Dohnjoe


    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: 16,456 Mod ✭✭✭✭Manic Moran


    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, Registered Users 2 Posts: 11,264 ✭✭✭✭jester77


    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: 510 ✭✭✭AH92


    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


    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, Registered Users 2 Posts: 24,457 ✭✭✭✭lawred2


    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, Registered Users 2 Posts: 24,457 ✭✭✭✭lawred2


    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, Registered Users 2 Posts: 1,223 ✭✭✭pro_gnostic_8



    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, Registered Users 2 Posts: 6,532 ✭✭✭EagererBeaver


    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


    What an utterly daft comment.

    How is it daft exactly?


  • Registered Users, Registered Users 2 Posts: 6,532 ✭✭✭EagererBeaver


    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, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    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, Registered Users 2 Posts: 24,457 ✭✭✭✭lawred2


    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, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    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, Registered Users 2 Posts: 24,457 ✭✭✭✭lawred2


    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


    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, Registered Users 2 Posts: 6,532 ✭✭✭EagererBeaver


    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


    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, Registered Users 2 Posts: 8,718 ✭✭✭Matt Simis


    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, Registered Users 2 Posts: 1,333 ✭✭✭Dr Bolouswki


    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


    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, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    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


    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!


  • Closed Accounts Posts: 2,021 ✭✭✭lifeandtimes


    Squozen wrote: »
    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!

    Nothing will surprise you more than cryptocurrency.

    There's predictions BTC can hit 50k.

    Think of each coin like different commodities on a stock exchange

    BTC would be gold
    ETH silver
    XRP could be OJ.. ...sorry I watched trading places last night

    They'll go up and down but as more and more people/stores/business etc undersrandunderstand how valuable cryptocurrency will be to them that's when it will become mainstream and eventually wipe out fiat


  • Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭Tinder Surprise


    started with a fixed amount that I was willing to lose and dripped it in to the market over the boom times of the past weeks - thought I was the dogs boll0x as I had my portfolio up 50% within a couple of weeks.

    Now I'm down ~30% on my initial investment (80% swing loss) but not really arsed tbh

    not cause its an insignificant cash amount, but because I have learned so much so far, and for me its all about picking those coins you believe in, try not get too involved or feel missing out on the day trades that see double % increases.

    at this point in time my only wish is... I have a couple of coins that I just want back to my initial investment return on, so I can use the cash for liquidity, but the majority of the coins in my portfolio I can see me not touching for months and months.


    the constant checking of blockfolio is a pain in the arse but:o!!!


  • Registered Users, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    Squozen wrote: »
    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!

    In my opinion (And I know I'll get lambasted for this) bitcoin isn't as safe a bet as it once was.
    No question Blockchain will be huge in the near future so you should put it into coins that allow platforms to be built on it or integrate into it.
    Bitcoin has first mover advantage which is becoming less and less important the more common this technology becomes.
    Bitcoins use is a gateway into Crypto but that share is dwindling.

    Just my opinion, Doesn't mean I'm right about any of the above


  • Registered Users Posts: 117 ✭✭Squozen


    seannash wrote: »
    In my opinion (And I know I'll get lambasted for this) bitcoin isn't as safe a bet as it once was.
    No question Blockchain will be huge in the near future so you should put it into coins that allow platforms to be built on it or integrate into it.
    Bitcoin has first mover advantage which is becoming less and less important the more common this technology becomes.
    Bitcoins use is a gateway into Crypto but that share is dwindling.

    Just my opinion, Doesn't mean I'm right about any of the above

    No, I think you're spot on and I'm just going to have to swallow the loss. I'll continue holding but I don't see a good outcome.


  • Closed Accounts Posts: 2,021 ✭✭✭lifeandtimes


    seannash wrote: »
    so you should put it into coins that allow platforms to be built on it or integrate into it.

    This is it mate.

    The reason we don't use the same planes,boats,cars, computers from 100 year ago is because people built on them to improve them over and over.

    The first computer had a memory of 250kb and was the size of a car, no we can get a memory card with a 1TB of storage on a stick the size of your thumb.

    The world is constantly evolving and so will cryptos or more specifically block chain, get involved in ones that can be modified and enhanced to perform better and do more and more functions and that's where you'll make your money


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  • Registered Users, Registered Users 2 Posts: 3,499 ✭✭✭IamMetaldave




    the constant checking of blockfolio is a pain in the arse but:o!!!
    LOL Same.
    I have only dabbled and made 2 small investments and through some nicely timed day trades and that I have tripled my investment as it stands, even in these red times.. however.. Neo has been my winner, I got it at 27 euro a piece.. otherwise I'd be in the red too.


  • Registered Users, Registered Users 2 Posts: 1,333 ✭✭✭Dr Bolouswki


    Only coin I am in is ETH. Hasn't been effected. Mining the fúck outta that shít too.


  • Registered Users, Registered Users 2 Posts: 2,210 ✭✭✭ZeroThreat


    LOL Same.
    I have only dabbled and made 2 small investments and through some nicely timed day trades and that I have tripled my investment as it stands, even in these red times.. however.. Neo has been my winner, I got it at 27 euro a piece.. otherwise I'd be in the red too.

    Neo holder here as well. I also picked up some Trinity Network Credits (off-chain scaling solution for Neo) recently.


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


    Is there anywhere you can see a graph of the next bitcoin futures?
    As in if more money has gone on short or long?
    Does such a thing exist


  • Registered Users Posts: 827 ✭✭✭studdlymurphy


    Only coin I am in is ETH. Hasn't been effected. Mining the fúck outta that shít too.


    How much do you make mining roughly? Is it lucrative?


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


    seannash wrote: »
    In my opinion (And I know I'll get lambasted for this) bitcoin isn't as safe a bet as it once was.
    No question Blockchain will be huge in the near future so you should put it into coins that allow platforms to be built on it or integrate into it.
    Bitcoin has first mover advantage which is becoming less and less important the more common this technology becomes.
    Bitcoins use is a gateway into Crypto but that share is dwindling.

    Just my opinion, Doesn't mean I'm right about any of the above

    Disagree, all Bitcoins hurdles can be overcome, it is the daddy and will be hard to topple. however there is plenty of room for plenty of other projects to have a fair share and turn into credible business/corporations. I myself expected things to bounce again by now, in fact i got caught up in the hysteria of December and saw it going into the new year. With all the fud, regulations etc, it's taking a hit, as well as a correction, in the long run, regulations are needed for mass adoption, we are all early investors. Already i have moved my investments in "long shot" projects into Bitcoin, i just can't bring myself to move my main investments into Bitcoin as they are such good projects that i am confident will prevail and be huge. I suggest those worried - take a break and not look at the markets for 2 - 4 weeks, i myself took a week off, thinking of doing so again until mid February (a few things coming up then that i want to get involved in) it will do you good. hodl and smile guys! Much luck and love to you all. Believe!

    oh, ICO's are getting a bit out of hand, be very careful with them, i initially started looking but have stopped, waiting for decent projects to actually come to the market later. All of the above, is of course, my opinion, not financial advice ;)


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


    How much do you make mining roughly? Is it lucrative?

    mining eth!!! unless you have a very decent rig, you will be a while to return anything significant. Better off mining smaller coins. Correct me if i am wrong


  • Registered Users, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    Disagree, all Bitcoins hurdles can be overcome, it is the daddy and will be hard to topple. however there is plenty of room for plenty of other projects to have a fair share and turn into credible business/corporations. I myself expected things to bounce again by now, in fact i got caught up in the hysteria of December and saw it going into the new year. With all the fud, regulations etc, it's taking a hit, as well as a correction, in the long run, regulations are needed for mass adoption, we are all early investors. Already i have moved my investments in "long shot" projects into Bitcoin, i just can't bring myself to move my main investments into Bitcoin as they are such good projects that i am confident will prevail and be huge. I suggest those worried - take a break and not look at the markets for 2 - 4 weeks, i myself took a week off, thinking of doing so again until mid February (a few things coming up then that i want to get involved in) it will do you good. hodl and smile guys! Much luck and love to you all. Believe!

    oh, ICO's are getting a bit out of hand, be very careful with them, i initially started looking but have stopped, waiting for decent projects to actually come to the market later. All of the above, is of course, my opinion, not financial advice ;)

    I love discussing this so ill ask some questions.
    How will it overcome the fact its not scalable to the degree other payment methods nor is it as quick. Lightning is unproven for now but even if they can implement it successfully other coins are better.
    It has first mover advantage for sure but as crypto becomes more mainstream that wont matter as much.
    Just to say it wont be toppled but it probably be somewhat stagnant in 2018.

    Ethereum is close to being the largest market cap fairly soon though


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


    seannash wrote: »
    I love discussing this so ill ask some questions.
    How will it overcome the fact its not scalable to the degree other payment methods nor is it as quick. Lightning is unproven for now but even if they can implement it successfully other coins are better.
    It has first mover advantage for sure but as crypto becomes more mainstream that wont matter as much.
    Just to say it wont be toppled but it probably be somewhat stagnant in 2018.

    Ethereum is close to being the largest market cap fairly soon though
    I will answer that with a question :) What has been proven? What are these other payment methods (in crypto) that are faster (cheaper transaction than Bitcoin at the moment though). Projects should be providing data of simultaneous transactions - such as the kitties ;) - that unproved something. Btw i am a Big fan of Eth


  • Registered Users, Registered Users 2 Posts: 1,333 ✭✭✭Dr Bolouswki


    How much do you make mining roughly? Is it lucrative?
    mining eth!!! unless you have a very decent rig, you will be a while to return anything significant. Better off mining smaller coins. Correct me if i am wrong

    Currently hashing 2348 Mh/s. It's quite a few rigs. Does an ETH about every 5 days.


  • Registered Users, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    I will answer that with a question :) What has been proven? What are these other payment methods (in crypto) that are faster (cheaper transaction than Bitcoin at the moment though). Projects should be providing data of simultaneous transactions - such as the kitties ;) - that unproved something. Btw i am a Big fan of Eth

    No doubt about it bitcoin has the hard yards put in but a lot of coins and platforms have been proven (Modem,Iota etc etc)
    In terms of true payment methods, Litecoin is faster than bitcoin (4x If I remember correctly) and XRP. I honestly dont think the mainstream is going to accept any of these payment methods this year and because of this I dont think they will grow

    Bitcoin wont die but I think it'll be a slow year. I hope its not true though. If bitcoin increases we all increase.


  • Registered Users Posts: 2,703 ✭✭✭Nermal


    seannash wrote: »
    No doubt about it bitcoin has the hard yards put in but a lot of coins and platforms have been proven (Modem,Iota etc etc)

    You have an exceedingly low standard of 'proven'. IOTA isn't even properly decentralised.


  • Registered Users, Registered Users 2 Posts: 5,672 ✭✭✭seannash


    Nermal wrote: »
    You have an exceedingly low standard of 'proven'. IOTA isn't even properly decentralised.
    Apologies you are right.
    I was asked for what was proven and I believe he asked for use cases in the real world which is what I provided


  • Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭Tinder Surprise


    All early indicators are we're on the big slide again today. Will it be compounded or improved upon after lunch when the U.S are online?


  • Registered Users Posts: 234 ✭✭Yelnahs


    BTC down to $9,550 as of right now. Think I'll have a crypto free rest of the week :|


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