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Something seriously wrong with criptos
#1
Am i the only one who is worried about Bitcoin. Have never seen so many ups and downs in two weeks and mostly the trend of going down. Are we going back to R35000 a bitcoin. I think so. At this stage im loosing seriously

#2
If this is the crash bring it on. This should be of no surprise.

Bitcoin (https://coindata.co.za/coin.php?id=bitcoin) will dip and I will buy - This is a long game, right now you should be focused on getting as many fractions as possible, it's only the beginning.

#3
(09-13-2017, 12:06 PM)JamesYellen Wrote: If this is the crash bring it on. This should be of no surprise.

Bitcoin (https://coindata.co.za/coin.php?id=bitcoin) will dip and I will buy - This is a long game, right now you should be focused on getting as many fractions as possible, it's only the beginning.

Thanks. I need some serious recovery right now.

#4
Depends on who you ask. If you're asking a crypto investor/I-pumped-everything-I-got-into-it-bevause-I-dont-understand-the-give-and-take-nature-of-econonics ...then yes, you're the only one worried.

#5
Just buy and keep buying whenever, then look at the end result 5 years later while driving your lambo.

#6
And to think some want to trade on crypto on margin. Smile

#7
1 China's ban of ICOs created uncertainty (short term)
2 JP Morgan Chase running their mouth because they are pushing their own interests.
3 There is another fork in November, as with the previous fork people run to Fiat until the fork is a success.

Bitcoin (https://coindata.co.za/coin.php?id=bitcoin) is still bitcoin and bitcoin will continue to do what bitcoin does best, adapt and evolve.
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#8
I think people should be careful of just discrediting anything somebody from a traditional investment company or bank has to say about cryptocurrencies.

Yes, there is potential bias but they do have valid points sometimes.

What happens,most of the time,is that after somebody from one of these companies issues a statement the crypto fanboys (and I mean fanboys in every single sense of the word...die hard extremists even) come in, read the headline, shout dinosaur and claim bias - all without reading the article.

The truth hurts and avoiding it doesn't make it go away. New cryptocurrencies keep on springing up, prices get inflated because of demand and somebody is actually cashing the real money being spent on it.

Without mainstream adoption where BTC or any of these coins are used for actual transactions what's its purpose except to serve as digital gold? And why would those investing in it want it to be used as a real currency? HODL ya'll!

So let's assume, for a second, "mainstream" never happens. You sit with you R10 million worth of BTC, ready to retire and buy a house. The hype is long gone and nobody is buying your BTC because everybody interested in BTC only has BTC to trade with.

A very extreme view, but maybe an extreme view is something the die hard extremists fanboys need.

#9
The main reason is exchanges in China are closing....the same bloodbath has happened in 2013 when they all closed for 4 months because of the government. Now since ICOs are booming there and there are so many scams, the government has banned ICOs and is looking harder at bitcoin exchanges. The price dipped then, and as you know we have had all time highs since.
Bitcoin exchanges were also closed in the US for a short while in 2013/14 and there was also turmoil....but we came right.
Exchanges will open again in China when they know exactly what the gov wants from them, and they comply. In the meantime there will be a lot of blackmarket trading, and decentralised exchanges will probably take off and there might even be more that spring up. Where there is a will, there is a way.
From my experience when exchanges have been put on hold in China and the US, and the price tanks, that was a great time to buy.
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#10
(09-14-2017, 02:57 PM)Bandit Wrote: I think people should be careful of just discrediting anything somebody from a traditional investment company or bank has to say about cryptocurrencies.

Yes, there is potential bias but they do have valid points sometimes.

What happens,most of the time,is that after somebody from one of these companies issues a statement the crypto fanboys (and I mean fanboys in every single sense of the word...die hard extremists even) come in, read the headline, shout dinosaur and claim bias - all without reading the article.

The truth hurts and avoiding it doesn't make it go away. New cryptocurrencies keep on springing up, prices get inflated because of demand and somebody is actually cashing the real money being spent on it.

Without mainstream adoption where BTC or any of these coins are used for actual transactions what's its purpose except to serve as digital gold? And why would those investing in it want it to be used as a real currency? HODL ya'll!

So let's assume, for a second, "mainstream" never happens. You sit with you R10 million worth of BTC, ready to retire and buy a house. The hype is long gone and nobody is buying your BTC because everybody interested in BTC only has BTC to trade with.

A very extreme view, but maybe an extreme view is something the die hard extremists fanboys need.

You might think that a currency that does not belong to a nation seems weird and that it can't work. Remember we had a national airline once and national telcos the idea of a cross border airline or telecom company seemed absurd.

Bitcoin is more like an exit opportunity, national currencies and banks are geopolitical organizations, in fact, national currencies have a shelf life of 30 years before they collapse in price according to statistics because no government can resist financing profligacy via printing, so they print and print and print, devaluating the currency 
inflating it to nothing and before you know it you have this sudden collapse we have seen it in Russia. The government has debt it is in their best interest to devalue the currency essentially stealing from the savers their money is worth less it's a transfer of wealth really from pensioners they pay the price. 

With that said it is important to realize that Bitcoin is not indented too, designed to or I do not think anybody that is in Bitcoin thinks this will happen, it is not intended to replace national currency. 

It is intended to break monopolies it gives people the option to have an alternative. 

Think of Bitcoin this way, think about exchanging money as a tourist. If you living in South Africa and you want to visit France, you go to France and you change some of your Rands to euros. If you travel to France often then maybe you keep some of those euros so that you can have them for next time. Then later you start visiting France often, maybe starting to earn in euros directly so you don’t exchange as much anymore.

Well, I visit the internet as a tourist. So on the internet, I exchange my rands into Bitcoin, because that is the currency I can use to do online shopping on the internet across the world very effectively, very securely and very fast.

The currency of the internet is Bitcoin now imagine after a while I “move” to the internet and I started earning on the internet at that stage I am earning in bitcoin, bitcoin is my currency and when I go to the mall I am a tourist in South Africa and so I transfer my bitcoin for rands or euros if I go to France. 

Think of the internet as a borderless country where some of us are permanent residents. Then you will start to understand how bitcoin can be a currency of choice, another option.
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#11
If the price of bitcoin is a result of buying and selling what is the chance that they can keep on until the value of a bitcoin is zero. Is there such a possibility.

#12
See, I said all of that and got a response about national currencies etc. I mention that it is not being used as currency but rather digital gold and am told to think of it as borderless currency.

The gist of the post was that the die hards blatantly ignore anything anti-crypto and respond in force to come to its rescue, almost like they are protecting an ideology.

If you look at these ICOs, they are used to raise capital (FIAT) in a very short time. Somebody is cashing in "real" money for bits of data that has no reason for value other than sentiment.

I'm not saying the day is not coming, but call me when the the crypto market breaks all ties with FIAT currencies and Bitcoin isn't used as a proxy for it.

#13
No no you said without main stream adoption where BTC is used for actual transactions what's the purpose of except serving as digital gold.

So I explained my view on it how I see bitcoin as a currency and of course use it to do actual transactions. Explaining a scenario that I believe will be how bitcoin is used. Right now it is gold everyone is buying and storing it, that won't be the case 10 years from now.

I don't argue with the rest, most ICOs in general is a scam hence the crackdown.

Bitcoin is already free of fiat, but it will become more apparent as more and more people and places start to adopt it, if I earn and spend in bitcoin the only reason I'll ever look at it for fiat is if I need something from a local shop who for some odd reason don't accept bitcoin.
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#14
Well well well: https://techcentral.co.za/bitcoin-now-ac...pay/77019/

For a limited time (trial run?)

#15
(09-17-2017, 07:26 AM)Bandit Wrote: Well well well: https://techcentral.co.za/bitcoin-now-ac...pay/77019/

For a limited time (trial run?)

I saw that yesterday and thought that is quite interesting.

My thinking is some of these JSE listed CEOs must be talking and one of them decided to give it a bash.

Will be very interested to see how they maintain the price given the high volitile nature of bitcoin at this early stage.

I also wonder if they will use the correct term and actually sell items in Satoshi instead of bitcoin.






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