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Bitcoins

Discussion in 'TalkCeltic Pub' started by therealfenian, Mar 21, 2013.

Discuss Bitcoins in the TalkCeltic Pub area at TalkCeltic.net.

  1. TimFloyd Gold Member

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    Triple digits just won't happen I'm afraid (I hope you come back in years from now and say I told you so)

    But it would need over 100 times its current market capitalisation while everyone else stayed stagnant at the same time.
     
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  2. Slaw Gold Member Gold Member

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    This guy knows what he's saying :50:

    100x's aren't impossible at this stage though. I'm giving DHT a go. Ranked outside the top 800, available to buy on OKEX.

    https://www.dhedge.org/

    They have an actual working product unlike most coins that low and appears way oversold right now at $2 from its $6 high a couple of months ago.
     
  3. Peej Gold Member Gold Member

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    It's the dream, in (my) theory, it could get to triple digits - I aint buying in to the hot air nonsense of 1000s from some dumb YTers.

    I'll be leaving it though to build over years, come back to it in 3-5-10 years and contemplate what to do at those sort of stages.
     
  4. Slaw Gold Member Gold Member

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    I mean.. there’s nothing inherently wrong with your strategy but I could never stomach holding through a 80-90% crash. Can you?

    a triple digit ripple means over $3 trillion market cap. The current market cap of the entire crypto industry is $2.4T.

    You’re probably right but I hope you’re ready to hold for those 10 years.
     
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  5. Peej Gold Member Gold Member

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    Oh I have no remote "expert" belief in any of this :56: but I am willing to hold for those 10 years or more (if it looks promising enough). Not in this one for the short term, not got the savvy nature to trade in that way at all.

    For me, it is a case of XRP and Ripple having a real usage and the world companies who are getting on board at this stage, gives me suggestions other folk know what the * they are doing ha.
    Would always have loved to get in on crypto at a good stage, this seems as best as any. All eggs in one basket sort of thing (for a lot this will sound very stupid), where I will let it sit and see what it is at in those 10 years.
     
  6. Slaw Gold Member Gold Member

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    You don’t need to be an expert mate. When the total cryptocurrency market cap reaches $7-10T, sell everything and then buy it all back when it goes back to $1-2T. You can check this figure on CoinMarketCap.com
     
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  7. Slaw Gold Member Gold Member

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    Loopring LRC Almost doubled in the last couple days
     
  8. Tim-Time 1888 Always look on the bright side of Life Gold Member

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    This.

    Before I say anything else here I'll declare my interest, other than investor protection, something that you have rightly highlighted mate this whole area suffers from vested interests so, I actually own some Bitcoins long story short - Family BBQ a good number of years ago now, numerous beers drunk, a nephew who talked about crypto/bitcoin (* is that) and later on both myself and brother became the proud owners of Bitcoins. So I should be a bit of a fan of them...

    We work in the same Industry and while we have different roles we both know the main risks/processes that need to be followed, so every time I see a 'recommendation' from someone to invest in crypto (especially) it makes me cringe. I have almost 3 decades of experience on advising both retail and professional investors to invest in specific funds/portfolios which I then review etc, all of which the client pays me to do and in return they get the benefit of my experience but also regulatory protection, which is obviously beneficial for the client. I will have also established the clients ATR and Capacity for loss - both of which are, continually, reviewed on an ongoing basis because its all regulated and relevant to that specific client and rightly so. But when it comes to crypto you usually often just see/hear a recommendation from 'Karen fae FB' telling everyone how easy it is to make money ... blah blah. No offence, well much, but I have probably forgot more in the past Quarter about investing than she is ever likely to learn.

    Without running over the full process involved before I make a specific recommendation to a client I, among a list of things, will have completed a Fact Find - salary/age/existing investments/pensions/ cash held (emergency funds) etc etc. Before a client even considered investing in crypto they would need to have both decent levels of investments/pensions in traditional investments before they should look at this area, plus they should also have adequate life/CIC/IP in place also. Once all of this is done I produce a detailed suitability report detailing my advice, which I am responsible for. All of this fits into a regulatory framework that Karen can ignore, not regulated, because she won't even know about all of this. Her only concern is punting her 'tip/advice' as she will invariably be either invested already, in the selected crypto, so her value increases or she is getting paid to punt it/or simply a useful idiot who is popular - vested interest whatever way.

    Am I rubbishing them (ALL)? No, some very reputable fund houses/providers are getting involved but regulation needs to happen soon because lots of people are going to lose money that should have been used, to better effect, elsewhere for them.
    I believe there is a value in them, the tech mainly, as the financial sector could well benefit from what I see but there is major problems - the anonymity causes problems obviously and the surge in ESG is also going to raise some very important questions around this whole area, given how they are mined and the resources needed for that..
    Christ even that * Musk/Tesla has the nerve to talk about that today, the irony but that's for another time.

    I read this article just last month, on a big endorser of crypto, its worth a read but in particular I would highlight this paragraph, on him, which is worth bearing in mind and central to vested interests (which are not always a bad thing IF they are always declared that is and it's understood. I would also not entirely agree when he says 'everybody' -

    "The most important thing that's happened in the whole bitcoin ecosystem happened in the last two months," he says. "Because in the last two months, everybody in both the tech world and the finance world has said, 'this is here to stay.' It's no longer a debate. It's over. The debate ended. Crypto is now an asset class. Critical mass has arrived. We're over the hill, and we're rolling downhill fast."

    When pressed, however, Novogratz acknowledges that there is no way to know whether the "social construct" propping up bitcoin will collapse or not.

    "We don't know that," he says.

    He sees no sign it will happen anytime soon. But what if things should change? What if the smart money starts to run for the exits and Novogratz finds himself once again among a mob of Paris Hilton fans? He can always do what he did the last time: Sell for a tidy profit. -


    So he is already in a position to, even if the price falls massively, be able to sell and still make a very healthy profit and many of the, powerful, endorsers are already in that position. I know my measly 5 will sell if a certain price is hit but I will still have made a very decent return on the insignificant amount I punted/gambled on them. Oh did I mention potential CGT ... Shut the * up TT.

    https://www.newsweek.com/2021/04/09/bitcoin-too-big-fail-1578234.html

    So if someone insists on doing this, it should be done with money that they are prepared to basically chuck out the window and they should do as much research as they can, although the time taken to do that related to the small amounts most people should be investing would make me wonder if its worth the effort tbh. Then again I do have bitcoin so .. people should pile in and lump everything on it ..:fear:
     
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  9. Zander Gold Member Gold Member

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    Elon Musk * loves his effect on the Cryto market.
     
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  10. Moore Brendan Rodgers OUT Gold Member

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    Gets off on it big time!
     
  11. King of Kings

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    I reckon he likes being a millennial icon, meme lord type guy more than he likes being Tesla ‘technoking’ or whatever his title is.


    That combined with his Bitcoin moves makes me very uneasy about Tesla’s valuation as a company.
     
  12. Zander Gold Member Gold Member

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    This ain't looking too good...
     
  13. Slaw Gold Member Gold Member

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    This video is a must watch. Ignore it at your peril.

    I sold 80% of my portfolio this day last week

    The bull market isn’t over
     
  14. King of Kings

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    This is what I mean when I say this is pure speculation, rather than investing.

    Nobody has any real idea where this will go because there’s no basis for valuation whatsoever. I hope nobody had much of their money in crypto.
     
  15. Colin Robinson Gold Member Gold Member

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    It was only a matter of time. What a dump that was.

    People can blame China, but it shows how fragile the market is and how quickly people will exit when there's panic.
     
  16. Peej Gold Member Gold Member

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    Short term people will be * it
    But if you're in this game for the long haul, you'll make something out of it if you are a little savvy about where you put your money

    Sent from my MAR-LX1A using Tapatalk
     
  17. Slaw Gold Member Gold Member

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    I did warn you! Got stung a bit myself but didn’t do too badly thankfully.
     
  18. MacEwan Himmy Butler Gold Member

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    It’ll climb again. Not as fast as it’s fallen.

    I’ve only got a couple hundred in Cardano so I’m happy to just leave it.

    Obviously there’s people losing hundreds of thousands but they surely knew they game they were getting into. It’s common knowledge that it’s volatile.
     
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  19. Slaw Gold Member Gold Member

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    $16 LINK, $0.07 VET, $0.70 XRP, $0.23 Loopring

    etc etc etc

    Not calling an absolute floor at these prices, but they’re good enough to fill your boots at.

    Not financial advice, just one man’s opinion.
     
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  20. Zander Gold Member Gold Member

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    I was thinking at selling when Ethereum had a great few days a couple of weeks ago. Feel like a right idiot for holding now. At a loss since I first invested.