Bitcoin discussion and news

[8ball]

Now hovering around £7,760.
Obviously I bought a *lot* for it to that.

 

[planetgeli]

$10550 here which is about a 12.5% fall in 5 hours.

I sense Ranbay ‘s happiness.

 

[8ball]

£7,633 now.
I feel like such a fool.

 

[DotCommunist]

Its proper crashing today isn't it. I got a message today from the bloke whose enthusiasm got me into it in the first place, he mentioned ayahuasca and then said that during the next "bitcoin bull run" he'll be buying a flat. It is a matter of faith not reason.

I'd really like to try ayahusca one day without travelling to Somewhere Different and having to deal with all the stress of travel. If only there was some shady currency I could use to buy it from the internets

 

[kabbes]

Nevar forget

Yup, 50k by June sounds right. Conservative even.

 

[kabbes]

Based on what I've seen, experienced, and understand, $20k in Jan and $100k in 12 months is absolutely reasonable.

 

[Ranbay]

$10550 here which is about a 12.5% fall in 5 hours.

I sense Ranbay ‘s happiness.

got 0.25 left to pay off, going to see how she looks tomorrow! have the money to do it now also

 

[bimble]

I'd really like to try ayahusca one day without travelling to Somewhere Different and having to deal with all the stress of travel. If only there was some shady currency I could use to buy it from the internets

Just get a train to west london. there are rent-a-shamans there aplenty.

 

[camouflage]

Nevar forget

That's Right, I said a thing, a thing that might even be wrong. What?

anyway it's not June yet and bitcoin is a maniac.

 

[kabbes]

That's Right, I said a thing, a thing that might even be wrong. What?

anyway it's not June yet and bitcoin is a maniac.

“Conservative”

 

[camouflage]

“Conservative”

You're right, there's nothing conservative in this thing, it's a dangerous radical.

 

[8ball]

“Conservative”

If you've got any tips more reliable than this that can generate similar gain to Bitcoin over the last 2 years I'm all ears.

 

[sealion]

I thought this was a decent article. Maybe someone here can tell me why it isn't.

So you're thinking about investing in bitcoin? Don't

So you're thinking about investing in bitcoin? Don't

A collective insanity has sprouted around the new field of ‘cryptocurrencies’, causing an irrational gold rush. I know you’re tempted, but don’t be a fool

Mr Money Mustache

Mr Money Mustache is a financial blogger. He retired at 30 by living frugally and consistently investing his paycheck


I’ve been watching this bitcoin situation for a few years, assuming it would just blow over.

But a collective insanity has sprouted around the new field of “cryptocurrencies”, causing an irrational gold rush worldwide. It has gotten to the point where a large number of financial stories – and questions in my inbox – ask whether or not to “invest” in BitCoin.

Let’s start with the answer: no. You should not invest in Bitcoin.

The reason why is that it’s not an investment; just as gold, tulip bulbs, Beanie Babies, and rare baseball cards are also not investments.

These are all things that people have bought in the past, driving them to absurd prices, not because they did anything useful or produced money or had social value, but solely because people thought they could sell them on to someone else for more money in the future.

(click link to continue reading)

Thanks for that. People will still ignore good advice, when the free money goggles are on!

 

[8ball]

Thanks for that. People will still ignore good advice, when the free money goggles are on!

When the fun stops, stop.

 

[sealion]

When the fun stops, stop.

There is very little or no fun to be had when gambling.

 

[8ball]

There is very little or no fun to had gambling.

I disagree.

But the slogan is useless since the dopamine hit comes in the placing of the bet, leading to repeat behaviour regardless of result.

 

[sealion]

I disagree.

I bet you do

 

[8ball]

I bet you do

How much?

 

[sealion]

How much?

6. 2 million spudloonnuggets please

 

[DotCommunist]

Not sure if I use the term correctly but I always took fictitious capital to be analogous to musical chairs, only theres one chair and when the music stops, one bloke gets the only chair. So you can point and say look, theres all those people running around to the music, thats healthy economic activity, its real. Yet if everyone stops and thinks about where they are going to sit its all fucked. Thats basically my explanation of the 2008 crash as well tbf. Although that seemed to include selling chairs that didn't exist as well

 

[The Fornicator]

Figure it out yourself then get back to us! Google is your friend

Thanks for your contribution here.

 

[The Fornicator]

Not sure if I use the term correctly but I always took fictitious capital to be analogous to musical chairs, only theres one chair and when the music stops, one bloke gets the only chair. So you can point and say look, theres all those people running around to the music, thats healthy economic activity, its real. Yet if everyone stops and thinks about where they are going to sit its all fucked. Thats basically my explanation of the 2008 crash as well tbf. Although that seemed to include selling chairs that didn't exist as well

Are you talking about quantitative easing?

 

[DotCommunist]

Are you talking about quantitative easing?

no that came after to avoid a full on re-run of the 1930's.

 

[8ball]

Not sure if I use the term correctly but I always took fictitious capital to be analogous to musical chairs, only theres one chair and when the music stops, one bloke gets the only chair. So you can point and say look, theres all those people running around to the music, thats healthy economic activity, its real. Yet if everyone stops and thinks about where they are going to sit its all fucked. Thats basically my explanation of the 2008 crash as well tbf. Although that seemed to include selling chairs that didn't exist as well

If fictitious capital didn't translate into real power it would just be a waste of time and energy, rather than something much more harmful.

 

[The Fornicator]

$10550 here which is about a 12.5% fall in 5 hours.

I sense Ranbay ‘s happiness.

I'm kind of picking this comment as an example is all.

Look, if you are reading anything at all into BTC swinging by 5 or even 10% in a day or two's trading, by definition you haven't been paying attention. Before I got involved you'd see 30-50%, back in the day 60-80% - in 24 hours.

The whole game is hugely volatile. I mean really, really volatile. The real huge money is in trading volatility, with the aid of technical analysis.

You also all seem to be unaware of the option to short into fiat at any point - which goes a long way to negate the bubble argument

It's a bit weird seeing people exited about pretty basic swings, it's not something anyone into this would find overly interesting.

 

[bimble]

Thanks for your contribution here.

How's the investment going Fornicator, your monthly skimmings of a percentage of profit doing ok?

 

[bimble]

You also all seem to be unaware of the option to short into fiat at any point - which goes a long way to negate the bubble argument

That is fucking hilarious. How is shorting not a bet against the bubble, you twit? That is exactly what shorting btc is all about.

 

[The Fornicator]

You seem oddly aggressive. On the internet.

 

[sealion]

I'm kind of picking this comment as an example is all.

Look, if you are reading anything at all into BTC swinging by 5 or even 10% in a day or two's trading, by definition you haven't been paying attention. Before I got involved you'd see 30-50%, back in the day 60-80% - in 24 hours.

The whole game is hugely volatile. I mean really, really volatile. The real huge money is in trading volatility, with the aid of technical analysis.

You also all seem to be unaware of the option to short into fiat at any point - which goes a long way to negate the bubble argument

It's a bit weird seeing people exited about pretty basic swings, it's not something anyone into this would find overly interesting.

Did you read the article posted up thread earlier ?

 

[bimble]

You seem oddly aggressive. On the internet.

You wanna take it outside? i'm actually laughing right now, alone in front of my computer.

You just said that people shorting btc is an argument against the thing being a bubble.
Why do you think this? It's mad.

By the way me too I'm 'losing money" today, I'm a Doer see, like you.