Jump to content

Trading cryptocurrency?

Recommended Posts

Think it just has, down from approx. 20,000 to 7500.

 

ive seen things in passing too, arent certain places not now accepting them? or treating them as proper?

Share this post


Link to post
Share on other sites

..........you can expect the establishment to do all in it's power too crush Crypto!.......can you begin to imagine

how much some must have lost!!!.....of course the manipulators will have already taken their money off the table

ready to buy back in at the bottom and attract a new set of mugs! As a final word don't think the stock market is safe either,the same principals abound!

Edited by mossdog

Share this post


Link to post
Share on other sites

Crypto has plummeted from the heady highs of around 6 weeks ago. To my mind, a big part of it is down to fear of regulation and clampdown by authorities, and financial institutions.

Share this post


Link to post
Share on other sites
Crypto has plummeted from the heady highs of around 6 weeks ago. To my mind, a big part of it is down to fear of regulation and clampdown by authorities, and financial institutions.

 

Partly correct, the other part is that they were becoming overrated.

Share this post


Link to post
Share on other sites

It's 'value' is supported by nothing real, it's entirely speculative, so it's ups and downs are entirely driven by sentiment.

 

---------- Post added 02-02-2018 at 20:54 ----------

 

...hope so!

 

Wouldn't mind seeing a major dip, to around £4k say; be a great time to top up.

 

I'm sure there's also some kind of positive reinforcement loop going on; where the higher the price of bitcoin goes, the more exposure it gets in the mainstream media, the more new money comes in, driving up the price, rinse and repeat.

 

How's that working out at the moment?

Share this post


Link to post
Share on other sites

There are far to many high worth individuals that own large quantities of cash that cannot earn much in banks at current interest rates.

Relatively speaking, it costs them nothing to punt millions in this bubble.

Let them play.

 

If you want to play, use the standard casino maxim ... don't gamble any more than you can afford to lose.

Get out as soon as you have a reasonable profit.

Don't forget that you will only win if someone else loses.

Share this post


Link to post
Share on other sites
don't gamble any more than you can afford to lose.

 

This is the most important point.

 

Everyone expects the bubble to burst, if people are sensible they won't loose a great deal and can take it on the chin.

You do hear about others who've taken out big bank loans or similar and thrown it all into Crypto.

Share this post


Link to post
Share on other sites
How's that working out at the moment?

 

Very well actually! After 7 months in, my initial investment has easily more than doubled (that's factoring in this recent crash). Obviously I would have preferred this recent dip not to have happened, but you have to accept the nature of the beast, and a large part of that is as you say, sentiment driven...

 

People are in fear of a crackdown on crypto, and the more people who panic sell, the more others follow suit. It's a new technology though, and as with any new tech, people who are invested in the old tech will be resistant and try to shut it down. Ultimately, I don't think they will succeed, blockchain is here to stay, though we will see changes in it as it iterates / evolves.

 

---------- Post added 02-02-2018 at 22:35 ----------

 

If you want to play, use the standard casino maxim ... don't gamble any more than you can afford to lose.

Get out as soon as you have a reasonable profit.

 

Excellent advice. The first part of which is easy (but imho essential)...

 

The skill is in knowing when to get out. It's not at all easy, I'm making mistakes left right and centre, be that selling too soon, or not selling at all (and seeing my portfolio drop around 60% in a few weeks).

 

I'm finding it a very time consuming too, which is a concern. Not only do you need to consider profit and loss, but also opportunity cost; what could I have achieved if I spend my time and attention elsewhere, rather than focussing it on crypto...

Edited by Waldo

Share this post


Link to post
Share on other sites
It's 'value' is supported by nothing real, it's entirely speculative, so it's ups and downs are entirely driven by sentiment.

 

---------- Post added 02-02-2018 at 20:54 ----------

 

 

How's that working out at the moment?

 

So what are 'standard' currencies supported by? (Serious question.) The gold standard died out long ago. Quantatitive easing is literally conjuring money from thin air.

 

As I understand it (and I admit that's not a lot, and this is simplistic,) somebody applies to the bank for a loan, the loan is conjured up on a screen and sent to another screen at the person's bank. He spends it. (Often by debit card) Then he pays it back with interest. The bank profits from the interest.

 

The last banking crash seemed to point to the fact that there was no limit / regulation on loans, it was lend as much as you could, as fast as you could, to whoever you could, then mix up the bad debts with the good, and nobody would notice the difference.

Share this post


Link to post
Share on other sites
So what are 'standard' currencies supported by? (Serious question.) The gold standard died out long ago. Quantatitive easing is literally conjuring money from thin air.

 

Don't be silly Anna! Everyone knows the only true representation of value are these massive stones, everything is an artificial made-up abstraction ... that has no intrinsic value ... that only has value because people think it does.

Edited by Waldo

Share this post


Link to post
Share on other sites

The only way to profit is to sell out.

 

As soon as large volumes start to sell, the price falls.

 

Hence ... don't be greedy, get out with a profit.

 

When you hear that someone like Bill Gates it worth $crazy million, most of that is in shares which, the second that he sold any large tranche, would collapse in value.

Share this post


Link to post
Share on other sites
So what are 'standard' currencies supported by? (Serious question.) The gold standard died out long ago. Quantatitive easing is literally conjuring money from thin air.

The state. A multi billion pound economy.

 

---------- Post added 03-02-2018 at 09:13 ----------

 

He has a 1.3% stake in MS, I doubt that he could cause a large impact by selling it off, although to be sensible he'd simply sell it over a period of time.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.