Simple question, who here supports/has crypto? (Any type)
Now that BitCoin (BTC) has almost hit $10,000 USD, has it changed your mind?
- No, its not safe/its a big fat bubble and it’ll cause a global economic meltdown!
- Need more information before I make a decision
I wouldn’t really see it as a bubble and don’t think it will cause a reall economic meltdown… but even though it’s likely not the key idea behind the design, in effect cryptocurrency mining does have quite a few charactaristics of a ponzi scheme.
It’s not stable enough for me to think of as a currency I can use day to day. It is a speculative investment at the moment, and the risk looks high. I wish I had bought some 10 years ago, but I also wish I had chosen the right numbers on the lottery last week. I didn’t do either.
Anybody heard of Tulips? If you have no idea why I’m mentioning them, you need a history lesson in “economic bubbles” as it’s a classic.
That said, remember, every currency you’ve probably ever heard of that’s in current usage is a fiat currency. Technically this could happen to any of them.
I have owned a bit of several cryptocurrencies for a while now. I don’t use them for much, just sort of an “well, if they go somewhere, I’ll get some sort of ROI”.
Until they can provide the privacy of cash, I don’t see them really taking off. I would keep my eye on whichever one manages to deploy Zero knowledge proofs first.
Absolutely true. But ‘proper’ currencies have central banks and governments to use monetary policy to prevent/slow/control such huge increase in value. Imagine being a country who priced its exports in bitcoin!
I remember first seeing BITCOIN when it was worth $400 (USD). I first heard about it in the year of 2013 when it was worth $300 (USD).
It’s a bubble, but it wont cause anywhere near a global economic meltdown.
Don’t focus only in cryptos, take a deep look at the technology behind it “Distributed ledger” .
In my opinion and based on some researches, it will be a game changer for almost everything in many domains/industries/.
Don’t even need to look that far back.
BitCoin dipped below 2000 around summer this year.
That’s already a 5-fold increase within half year.
Would really like to hear what the wise @pauliunas has to say about this.
That’s a bad choice in your poll.
Where is the
“No, but I also don’t think that’s a big bubble.”
I support crypto and I have some. Why do I have crypto?
Cuz I think Bitcoin is here to stay and the technology behind it could be very useful in lots of ways.
Plus I don’t have to deal with middle man, I want to send money to a person across the world fine all I have to do is send BTC to the person’s address and I’m done. There is not bank, gov & other bullshit in the middle its just me and the other party that I’m sending money to.
It Bitcoin a bubble right now? Umm I don’t know I personally think it not a bubble if it is and the price crashes I’m just going stock up more BTC if it not a bubble than I’ll still make somewhat profit. The only catch here is only invest what your willing to lose.
Do I want anyone to know how much money I send/receive?
Do I want to wait n #days/hours/minutes for transactions to finalize?
Do I want my money to anonymously move from point A to point B in matter of minutes?
If yes to all the answers than take look at Bitcoin and the technology behind it. See for yourself why people follow Bitcoin and why it being valued? After all nothing in this world is valuable unless there are people who are willing to buy it.
I currently trade day to day crypto currency . I also hold some for an investment. Just like the stock market things go up and down and have bubbles and jumps as well as dips. The market will correct itself and go back down I don’t see it taking a significant dip but It will dip. Bitcoin is the current standard for most crypto markets and exchanges however it will loose value if they decide to fork it . Wich many talks have been about forking Bitcoin. The most recent segwit was thankfully turned down. When the currency forks it is just like printing more money the value will drop.
But I don’t see Bitcoin staying the standard with it’s high transfer trade fees and it’s sometimes very long wait on transactions
However I do see an electronic currency to be the future at some point and I see a value in it. But just like the stock market you are taking a risk so if you are interested in investing spend allot of time researching each coin and exchange . And only invest what you are willing to loose .
Bitcoin down 20% today. It might be up 20% tomorrow, or down 20% again. You’d need to be braver than me to invest/speculate/gamble!
Buy low sell at 50% mark up ensures you don’t loose most exchanges have an order system you can set that as soon as someone submitts an order to match yours or one higher if selling or lower if buying to do it for you in the order they were submitted . You watch and study charts in trends and it becomes easy I buy at extreme lows and sell at something that has been met already to ensure profit.
Like I said before be sure to only invest what you’re willing to lose. Also Hodl is great advice for coins you believe in or are doing well I hodl 50% of my transactions as investments aswell in coins I believe will continue to go up such as Bitcoin ether and litecoin to maximize a profit and as a cash out for later if needed for an emergency