Not lost anything yet.
But I did cash out my original stake between Dec-Jan to make sure I'd always be in the black!
Would have been 4.5x up if I'd cashed out my entire stake though 😀
Btw, I don't hold just BitCoin so I've not done too badly due to diversification. Still, waiting for someone to do something exciting with it instead of it just being a vehicle for speculation.
Another good article in the FT yesterday...
A once-in-a-lifetime chance has emerged to invest in SchadenfreudeCoin — a decentralised digital token pegged to the smugness of No-Coiners who were never sucked into the ailing cryptocurrency fad.
The highly scalable, next generation, disruptive new coin comes with the backing of social media celebrities and provides the perfect hedge against the declining value of bitcoin. Hand over your bank details now.
It’s a joke, but only just. Those of us accustomed to the daily lorry-load of cryptobabble emails can attest that it is scarily close to the real world of PR foisting untested and unregulated financial products on to naive investors. And given the levels of crowing from the crypto holdouts, a SchadenfreudeCoin could even be quite lucrative.
The stream of asinine crypto promotions is waning, however. It will probably soon dry up altogether, given the asset class’s dreadful recent run. From a peak of about $20,000 per coin in December, bitcoin — the biggest of thousands of digital coins around the world — has tanked to around $6,000.
True, anyone who bought before November last year is at least still flat on their investment. Fans still recommend holding (“HODLing” in the market’s parlance), a comparatively easy task given how hard it can be to liquidate positions. Still, the glum tone among the true believers who once castigated holdouts as “Keynesian bag carriers” is clear.
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Analysis Cryptocurrencies
What next after cryptocurrency bubble bursts“Sadly, I have to report low conviction today,” one crypto trader laments in an emailed note. “There’s also the issue of tepid fiat-crypto exchange volumes which speaks to low retail demand and a lack of fresh retail capital entering the ecosystem.”
That is a telling comment. The market, even according to its supporters, relies on drawing in new blood. It cannot thrive and has no fundamental driver for further gains without it. “Bust is the word,” said the chief executive of IG Group, one of many retail brokers that happily rode the wave of huge buying volumes towards the end of last year but that now thinks the frenzy has passed.
The last thing crypto buyers sitting on losses need to hear right now is “I told you so”. Only the hardest of hearts can fail to feel sympathy for investors who have lost their savings for college or whose first foray into financial markets has left them ruined. Nonetheless, it’s hard to sympathise with the buyers who disregarded the pleas of (most) regulators, central banks and the bulk of sane financial advisers to steer clear. Particularly tiny violins will squeak for the professional bankers who jumped in.
In April, I was invited to moderate a discussion about the prospects for cryptocurrencies. The panellists broadly, though not universally, agreed that they were limited, but that something may be possible to salvage from the underlying technology.
One asked for a show of hands among the audience, which comprised roughly 120 bankers — sales and trading types — and other financial intermediaries, to determine how many had bought into the craze. At least two-thirds raised their hands, many had sold close to the top, and almost all were still in the black.
Did they believe the hype? That crypto was about to wash away the antiquated fiat money system from which they drew their livelihoods? Unlikely. They just did what they do best and found a greater fool with less information and fewer market smarts, and piggybacked on their flows.
Crypto is limping on, but has proved itself to be more than small enough to fail. The price crash has had zero ramifications for financial markets so far.
Of course, there is one shining city upon a hill that is keeping the faith: Venezuela. President Nicolás Maduro this week launched a new national currency pegged to an oil-based crypto coin. As one observer noted: he may as well have pegged it to unicorns.
I suspect it will go the way of all those .com internet businesses.
I wouldnt be suprised either.
Certainly if the Regulators put some effort in and get some control mechanisms in place.
Better cash out and buy those Lambos soon folks.
Currently at 57% ROI in a year. If I'd cashed out on new years eve at 900% ROI, I'd be living in a new house right now. But I didn't.
XRP recently doubled in price following speculation they were about to make a real world application announcement. They didn't, but it shows what might happen.
Also, electroneum.
Looking good...
Just another $5000 to go and sanity will be restored.
[url= https://farm5.staticflickr.com/4909/45180841444_cb479a9c7d.jp g" target="_blank">https://farm5.staticflickr.com/4909/45180841444_cb479a9c7d.jp g"/> [/img][/url][url= https://flic.kr/p/2bQtC5U ]Bitcoin[/url] by [url= https://www.flickr.com/photos/brf/ ]Ben Freeman[/url], on Flickr
Does anyone on here know the actual mechanism for renumeration for securing blocks?
I know 12.5 bitcoin per block solved/secured/mined, but I heard the amount paid each month is a fixed USD amount and the size/number/complexity of the blocks to be solved are set dependent on the computing capacity available at the time.
Anyone closer to this than me? I'm quite far away, and my google scalpel isn't sharp enough.
Does anyone on here know the actual mechanism for renumeration for securing blocks?
Trade bitcoins for shitcoins/tether. Get left holding the bags. Sell your mining rig on eBay to try and pay your electricity bill.
electronium
Anyone still think crypto is the future?
It will remain in the future yes, will it replace normal currency, no but then only crazy people or those trying to flog bitcoin ever thought it would. Block chain is certainly here to stay and quite a few systems are starting to use it, we're even using it as the basis of payments systems for traditional banks.
cheers torso, no interest in it for myself, needed to understand for work. I had another go on google and found what I needed to.
Ned, just ask anyone who is punting blockchain how you store personal data in one given GDPR, and how do you keep that personal data secure given it is (supposedly) immutable.
When Wal-Mart and TradeLens solutions are held up as examples, ask if these are actual distributed ledgers, or is all the data centralised in IBMs datacenters just like a conventional database would be.
etc. etc.
All the promises of Blockchain are the promises of Bitcoin. So don't feel too bad about missing out.
Have to say I'm very much enjoying watching Bitcoin et al crash and burn.
and now even the Chinese can't break even mining the stuff!
Be interesting so see what the profit margins are like for the guys using immersion cooling and ambient air cooling.
Non existent. Bitcoin mining has become centralised for this reason.
The cryptopocalypse cometh.
https://twitter.com/ncweaver/status/1064860941806792704
but centralised to certain big players using the most efficient tech? How are they getting on? As far as I'm aware, the big miners aren't holding, they want to free up cash (real cash, the kind you can buy stuff with) to buy more tech.
£2,500 today.
Can see it going down past 1k now.
I'm a bit late to this, but about 4 years ago, it was at I dunno 200 to 1000 dollars and I thought, nah, its peaked, then it rose to 20,000 and i though oh crap, i should have, shouldn't I?
But all the way through I thought that there are only so many Bitcoins, just like there is only so much gold, but like all precious metals there are only so many resources on earth and mining it is not so easy, and its even harder to mine outside of the earth so supply is to an extent limited. Cryptos? Well if one runs out there is theoretically as many as anyone wants to create, and as many have near-enough limitless issues then it would be the same as if anyone could produce gold from their back garden given enough time and digging - what would gold cost then?
And there was the argument that cryptos were not controlled by governments and therefore somehow more trustworthy. That was b*llocks too - I'd rather trust in a level of control by several governments (of some level of accountability) than in unknown players working to run a ungoverned currency apparently used for money laundering and crime.
So working off this thinking, I missing the chance to make a lot and I missed the chance to loose even more.
I don't regret it.
My bet is that the only cryptos to survive in the long term will be those who somehow find a level of semi-official regulation and backing, and this will probably be those which will end up tightly regulated and tied to larger financial bodies.
Mine went up about 500%, then back down to pretty much where it started, then I went back to using it for what after all is its primary purpose- buying drugs off the internet.
Bitcoin is completely doomed. The current ownership (vast majority owned by less than 20 whales), means it will hasn't achieved the mass adoption necessary to be used as a currenry. It's just a speculative asset manipulated by a small cohort of early adopters who are on paper worth billions, but if they ever attempt to cash out, will crash the value to (near) zero....
"Bitcoin is completely doomed"
Well,not just yet,it's back up to $7000 and it doesn't look like stopping.
Yeah I've no idea why people called it over at the time. Sure it went parabolic and it will correct again but it's far from over.
Alt coins don't impress though.
Wouldn't surprise me with an ATH this year or the next.
Alt season just starting,hang in there.
Keep kidding yourself. The price is made up.
https://www.cnbc.com/amp/2019/03/22/majority-of-bitcoin-trading-is-a-hoax-new-study-finds.html
Tether is about to get f'ed in the a so the exchanges are conspiring to pump bitcoin to get more mugs in.
http://fortune.com/2019/05/03/cryptocurrency-new-york-attorney-general-bitfinex-reginald-fowler
https://bitsonline.com/binance-hacked-suspends-withdrawals/
Practally all online currency trading platforms are total BS that just track inc FOREX, Bitcoin is no different. If that worries you just buy some instead.
That hacking thing was days ago and appears to have had zero impact.
< I took some of the bitcoin I had and put it onto sun exchange to install solar pannels in SA and get a cut of the profits from the energy payed in bitcoin. Seem to be working rather well so far.
Client of mine took all of the money out of his company account the week before the EU referendum and bought Bitcoins with the lot.
Pound dropped when we voted to leave, sold them all and back into sterling.
Made a very tidy profit.
Brave.
Bitcoin back above 10,000,on course for an ATH
By on course, you mean its current price has to double. And who knows whether it will do that? No one.
I see facebook is getting into the game.
Guess the ATH,was a bridge to far on this occasion,$14,000 looks like a top for now.might retrace down to $7000 before another attempt, at the ATH.
However this is crypto, anything can happen!.
Completely insane price rise, if Libra takes off, no one will remember what Bitcoin was. Just shows how worthless it really is...
Completely insane price rise
What's a sane price rise?
I had an old bank account floating around with just under a grand in it, which I thought would be a really good idea to invest (using the term loosely) in Bitcoin with, just to see what happened. I bought just before Xmas last year. Complete luck, rather than any sort of judgement. Given the price currently, I shall be cashing out. No idea how the process works really - so it's all a learning curve 🙂
What’s a sane price rise?
For bitcoin I'd say about -100% would be a sane price rise...
" Just shows how worthless it really is…"
Wow! Don't hold back on your Bitcoin hatred!
Work in banking or did you buy at the top?
Anyway,i think it's great and here to stay.
Bitcoin back above 10,000,on course for an ATH
Bitcoin surpasses $20,000 to hit new high
https://news.sky.com/story/bitcoin-surpasses-20-000-to-hit-new-high-12164346
Proven store of value. Institutional investors moving in.
Work in banking. Been giving them shit that we haven't developed a trading platform, but the bank is hard into crypto. Just not advertising it (yet).
My stash is worth about $30k, from a 3k investment.
And investment is was - not gamble. If you know anything about the tech it's more trustworthy than banks (the criminality argument makes me laugh my ass off - once you enforce KYC regulations then anyone can read any transaction - what's more transparent than that! Try getting any bank, anywhere, to open up it's ledger for you to read and see what happens).
Anyway. We'll see where it is in about 10 years, when I intend to flog it whatever the price - or pay off the remainder of my mortgage with it directly. Dependent on how it's being used then.
But one thing's for sure. It's here to stay.
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