BTC Warning

Have made a ton of money with bitcoin and ether but like I tell everyone please don't take it that seriously. Just invest a set percentage and watch it. Some people invest their life savings and that's all bad. Regardless I'll be buying a jet after the next bubble :D Invest safely and take care.
 
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Vodaa Citaa said:
Except for the fact that it has made many millionaires?
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Just like a Ponzi scheme then? Go tell that to all the people paying off loans they can't afford. Tell the people who remortgaged their houses for the promised $40k Bitcoin by February and 100k bitcoin by the end of 2018. Because they took "investment" advice off a bunch of shouting and screaming turnips.

You see what Bitcoin needs to keep going up is masses of fools thinking they are going to become millionaires. Telling other fools "get on this you can't lose" But you see what has just happened, the fools ploughed their money in and are now licking their wounds. No longer are the fools telling other fools "get on this". No, now the fools have gone quiet, or they are shouting and screaming the opposite "Bitcoin is a scam".

But don't take my word for it. Keep throwing your money at it waiting for the promised 100k Bitcoin. Good look with that. You are getting down to the last layers of the Ponzi. You know the layers where people just continue to lose.
 
Cnotey said:
I'm a little unclear on your post. Quants don't trade on sentiment. We trade on quantitative analysis. And there are fundamentals to look at for BTC. Cost to mine, difficulty of mining, etc. True it's not your typical fundamentals like profit/loss and debt ratios but there is still something there. And your second sentence is exactly what I am saying. When the institutional clients start to invest more, sentiment will matter
less.
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Quants use numbers to predict behaviour. Mathematics supports decision making.

I'd actually argue that most trades made on quant analysis are actually made on sentiment, and the numbers used as later justification for the decision.

Fundamental analysis aims to judge the current intrinsic value. There is an intrinsic cost (being the cost to mine, which is made up of other measurable component costs such as the cost of electricity), but I've yet to learn what the intrinsic positive value of BTC is and how to value it.
 
 
mickyfu said:
Just like a Ponzi scheme then? Go tell that to all the people paying off loans they can't afford. Tell the people who remortgaged their houses for the promised $40k Bitcoin by February and 100k bitcoin by the end of 2018. Because they took "investment" advice off a bunch of shouting and screaming turnips.

You see what Bitcoin needs to keep going up is masses of fools thinking they are going to become millionaires. Telling other fools "get on this you can't lose" But you see what has just happened, the fools ploughed their money in and are now licking their wounds. No longer are the fools telling other fools "get on this". No, now the fools have gone quiet, or they are shouting and screaming the opposite "Bitcoin is a scam".

But don't take my word for it. Keep throwing your money at it waiting for the promised 100k Bitcoin. Good look with that. You are getting down to the last layers of the Ponzi. You know the layers where people just continue to lose.
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How is that even the goddamn point?
First thing you said, no positivity in a ponzi scheme, i reply that there is positivity, then there is you blabbering on what people did, bitcoin never themselves even said they will be 100k or 40k, people should be responsible for their own crap, clearly they cant, it's not bitcoin's fault is it? It's not the storm's fault that people didn't stay at home. And how is that even the point? I see nowhere on bitcoin's site forcing people to buy the coin. So clearly its not a ponzi scheme like bitconnect.
God, you guys disgust me.
 
In one month it`s going to be treads more like 'Is there anything left to cash out?':D:D:D
 
mickyfu said:
Just like a Ponzi scheme then? Go tell that to all the people paying off loans they can't afford. Tell the people who remortgaged their houses for the promised $40k Bitcoin by February and 100k bitcoin by the end of 2018. Because they took "investment" advice off a bunch of shouting and screaming turnips.
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Looks like your definition of a Ponzi scheme is "the stock market" :D

But don't take my word for it. Keep throwing your money at it waiting for the promised 100k Bitcoin. Good look with that.
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Well, that's the point. Backing words with money. Those who are for it pay and get a shot at it, those who are against don't pay and keep their sum as is in any case.
 
jazzc said:
Looks like your definition of a Ponzi scheme is "the stock market" :D



Well, that's the point. Backing words with money. Those who are for it pay and get a shot at it, those who are against don't pay and keep their sum as is in any case.
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Oh no @jazzc, you've turned into one of them....
 
queenjude said:
BTC will come back - just like Nasdaq came back from its 1999 highs.

The only question is if BTC is the Amazon of the lot or Yahoo.
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I think it’ll be more like pets.com.

The crypto world is more similar to the stock market in the early 1920s before a Nasdaq and SEC.
 
BassTrackerBoats said:
Sort of a serious question here.

I can get solar installed that will handle all the electricity in my house for about 30K - about 19K if I bought the products and was involved in the installation.

Let's suppose I don't use it to run the A/C, refrigerator, etc and use it to mine.

Would that make economic sense?
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Omg is that btb getting into crypto?

I must be dreaming!

But, yea if you can afford mining, just go for it! :)

Fiat is a ponzi scheme. How is btc any different?

Plus, im not selling any btc unless it reaches 100k or $1 usd lol

Going home or to the moon
 
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Oh no, a small NY town just placed a temporary ban on bitcoin mining, better sell all your bitcorns people!!! BTC WARNING!

Seriously though, I'm no big fan of Bitcoin in general, and will probably never buy any, but these threads are just pointless FUD. It's nothing new though because Bitcoin has a fair share it:

1. http://www.calculatinginvestor.com/2011/07/13/thoughts-on-bitcoin/ (Commentary: Why Bitcoin Will Fail as a Currency) Date: 13/07/2011 Price: $14.01
2. https://www.chron.com/business/fool/article/Why-Bitcoin-Is-Doomed-to-Fail-4413416.php (Why Bitcoin Is Doomed to Fail) Date: April 5th 2013 Price: $141.32
3. http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T (FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014) Date: Dec 17th 2013 Price: $887.63
4. https://dealbook.nytimes.com/2013/11/27/a-prediction-bitcoin-is-doomed-to-fail/?_r=0 (A Prediction: Bitcoin Is Doomed to Fail) Date: Nov 27th 2013 Price: $955.67
5. https://www.wired.com/2013/11/once-you-use-bitcoin-you-cant-go-back-and-that-irreversibility-is-its-fatal-flaw/ (ONCE YOU USE BITCOIN YOU CAN'T GO 'BACK' — AND THAT'S ITS FATAL FLAW) Date: 11.26.13 Price: $835.11
6. http://www.businessinsider.com/bitcoin-is-a-currency-for-clowns-2013-11?IR=T (Bitcoin Is A Joke) Date: Nov 6th 2013 Price: $433.57
7. https://www.bloomberg.com/view/articles/2013-08-08/did-the-sec-just-validate-bitcoin-no- (The SEC Shows Why Bitcoin Is Doomed) Date: 8 August 2013 Price: $93.57
8. http://blogs.reuters.com/breakingviews/2014/12/26/bitcoins-defects-will-hasten-its-demise-in-2015/ (Bitcoin’s defects will hasten its demise in 2015) Date: Dec 26th 2014 Price: $327.20
9. https://www.washingtonpost.com/news/monkey-cage/wp/2014/12/16/bitcoins-financial-network-is-doomed/?utm_term=.828bdb8a2cfa (Bitcoin’s financial network is doomed) Date: Dec 16, 2014 Price: $325.10
10. http://money.cnn.com/video/technology/2014/10/29/jeffrey-robinson-bitcoin.cnnmoney/ (Where did Bitcoin go wrong?) Date: 29/10/2014 Price: $333.58
11. https://www.wallstreetdaily.com/2014/02/27/bitcoin-2/ ( The Exact Date for Bitcoin's Final Crash to $0.00) Date: 02/27/2014 Price: $579.01

I could link you hundreds of more articles claiming that Bitcoin will fall to $0 from so called experts, financial analysts, economics professors, nobel prize winners, CEOs, big banks, governments etc, but guess what? None of them were able to predict anything correctly, every single one of them were flat out wrong. For the past few years they've been telling us repeatedly that it will fail and fall to $0 but guess what, it's only gotten bigger and stronger.

Moral of the story? Do your own research, understand the concepts, the early adopters didn't fall for misinformation and now are sitting very pretty. Will Bitcoin succeed in the future? Who knows, just don't read an article from Washington Post, Business Insider, CNN etc and dismiss it.
 
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