Breaky Bitcoin Blues

kerplun k wrote: »

That's a very bold statement to say BTC will never recover from this, of course it will. I've set a reminder to poke you when it hits 5.5 again. :pac:

seamus wrote: »

5.5 is a very soft target. It could bounce up to that (and back down again) next week.

Nevertheless, I'm pretty confident you'll never receive that reminder.

In 2025 there'll be a thread entitled, "Who remembers Bitcoin? Did you make any money out of it?"

Poke

man all the people calling it a pyramid scheme, tulips etc....
longest pyramid scheme ever if thats the case!

Serves people right for buying crypto currency.. Useless numbers on a screen

Holy fiddlesticks.

grindle wrote: »

Great mod decision. Thread will be much less cancerous and virtually useless for attracting ignorant shítposters now.
This could be a playpen for any self-avowed lowlife criminals unwilling to research on red days into the future.

What was the mod decision. Have posts been deleted?

stockshares wrote: »

What was the mod decision. Have posts been deleted?

https://www.boards.ie/vbulletin/showpost.php?p=110531253&postcount=434

They moved this from After Hours to here. It benefits crypto discussion beacuse most are viewing it with a dim "heard about it on the radio" mindset but is objectively negative because even the mentally deficient should be allowed to voice their consistently invalidated viewpoints. Depends on how you feel about repetitive thread-spam and lengthy rebuttals.

Aongus Von Bismarck wrote: »

A complete scam of course, and it just goes to shows what happens when large amounts of people who don't understand economics, the creation of wealth, and the systems behind it, attempt to 'get rich quick'.


That said, not everyone lost money. Over 90% of people did. I made some money off Bitcoin completely by chance. A number of us here at the bank in Frankfurt bought some of them a number of years back. We had intended to give them to one of C-Suite in the bank as a joke present - the 'future of money'. We didn't however, as he died of a massive heart attack before we had the opportunity to do so.


Anyway, we forgot about them, until last December, where we saw that each coin was valued at over 10k dollars a pop. We cashed them all in at 14700k a pop, which wasn't the height of the bubble, but no point getting greedy with this sort of thing, and ending up being a bag-holder/owner of worthless digital 'beany babies'.


I paid the required tax on the profits, and was able to purchase a small holiday home in West Cork with the proceeds. I also had enough left over to purchase a golf course membership down there, as well as a Paul Henry painting for the kitchen. So all-in-all, a pleasant experience.


Don't even bother reading about it these days. There's this idea that those of us who work in traditional banking are terrified of bitcoin. We aren't. It's silly libertarians playing silly games with silly virtual money.

Good man Aongus.

xckjoo wrote: »

Any ideas on what's causing the upswing?

The purest of hopium. General uptrend in the cycle, big money looking at the last cycle in regards to a BTC halvening and getting in ahead at lower prices in comparison to where they think it could be - nobody really knows but those are the most likely.

I was kind of sceptical wrt timeframe that we'd follow the exact same 4y cycle again, I thought it may take another year or two. Looks like it'll happen faster unless we have another year long bear market (also plausible).

Arrival wrote: »

Such a ridiculous statement from someone who's actually divested FIAT into this, I would've thought people would do basic research before parting with their money which would get them past the dumb ass Ponzi and pyramid scheme ****, but here I am proven wrong lol. If you actually think it's a ponzi/pyramid scheme by the way not only are you dumb but you're a scumbag for jumping in trying to make money off of stupid people as you say, same way anyone involved in any pyramid scheme preying on stupid people is a scumbag.

Watch this in its entirety and come back to your post here. It's 40 minutes but very easy watching, you need to actually look at the video too not just play it half assedly in the background. It's a must watch for anyone who actually has an interest in the industry:

https://www.youtube.com/watch?v=V3VgbQ23E8k

When one invests in shares, they are buying something that has an underlying value (a little piece of a company that owns assets) that is generating wealth (profits). Yes, there is a small element of speculation regarding price, but it is investing in something tangible.

Similarly, when investing in property, they are buying something that has an underlying value (land/building) that is generating wealth (rent). Yes, there is a small element of speculation regarding price, but it is investing in something tangible.

Hell, even if you trade in Gold/commodities, there is an underlying asset with value.

Bitcoin et al are currencies. And very bad ones at that. The main points that people use when expressing their love for crypto are also the reason why it can never work. A currency needs government backing -until it is legal tender, it is merely a sideshow. It needs strict regulation - right now, the land of cryptos is the financial wild west. It needs central bank interference - as long as it is fluctuating wildly, it is useless as a currency.

Ultimately, cryptos have no underlying value. The price they are been traded at reflects 100% speculation and nothing more. And, while not strictly a pyramid scheme in the traditional sense, that's the closest common term that people understand (it is more a series of pyramids). And if you can't see that, then you need to cash out immediately and stay away.

P.S. Calling people names because they know what they are doing is a little silly. "Bigging up" something that you are invested in, however, is a very scumbag thing to do and, in regulated environments, is illegal.

Give it a rest lads yous are just coming off as pathetic, get a life and stop trying to put people down, that's all you try to do, one up people thinking you know everything. Sham.

And paddy your model, don't make me laugh that's the funniest **** I've heard in a while!

I'm calm as can be, expressing my opinion on a public forum isn't a crime

And to be fair nothing civilised about how you and your chum talk to people and have done for quite some time now, as I said forever trying to one up people, pathetic