Bitcoin fans

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Jack Welles
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Bitcoin fans

Unread post by Jack Welles » Tue Nov 20, 2018 9:53 am

Strangely silent ...
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Re: Bitcoin fans

Unread post by Whirly » Tue Nov 20, 2018 10:19 am

Glad I stayed out of it. :roll:

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Re: Bitcoin fans

Unread post by V5 - LEO » Tue Nov 20, 2018 11:08 am

Whirly wrote:
Tue Nov 20, 2018 10:19 am
Glad I stayed out of it. :roll:

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....well in hindsight me too - it is like with the pyramid schemes as well, I am always too late - the first ones scores - I am too much of a skeptic :x
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Jack Welles
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Re: Bitcoin fans

Unread post by Jack Welles » Tue Nov 20, 2018 11:15 am

My interest goes a bit further than that.

Many folk advocated piling in when it was high (and looked like a bubble - which proved to be the correct interpretation).

Now the price is down and it might just be time to start paying attention to it and none of the Bitcoin fans are saying anything ...
Jack Welles (thriller_author pen name)
https://www.amazon.com/Jack-Welles/e/B073VJQTTX
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Textbook - "The Lore of Negotiation"
http://www.loreofnegotiation.com
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Re: Bitcoin fans

Unread post by SlowApproach » Tue Nov 20, 2018 11:31 am

I think what is killing Bitcoin off (and the unearthly silence as a result) is the very fast-growing trend to use it primarily to further criminal activities. Like the extortion scams that demand payment in Bitcoin, etc. Once people realise how effectively untraceable these transactions are (and thus the perps) there is no way it could ever (re)gain any credibility with the population at large.

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Jack Welles
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Re: Bitcoin

Unread post by Jack Welles » Mon Dec 03, 2018 9:49 am

Bitcoin is under $4k now.
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https://www.amazon.com/Jack-Welles/e/B073VJQTTX
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Re: Bitcoin fans

Unread post by snoopy » Mon Dec 03, 2018 9:56 am

:D ja wat, I was just wondering how they going to make a fan out of bitcoins. :lol: :twisted:
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Re: Bitcoin fans

Unread post by SlowApproach » Mon Dec 03, 2018 10:06 am

I think our local "miners" are also about to, um, lay down their shovels, due to Eskom's load dumping.

I can just imagine the typical conversation nowadays:
Miner: "I made 2 grand this month!"
Buddy: "And how much did you have to pay for backup power to keep your rigs running, recently?"
Miner: "Uhhhh, 60 grand..."
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Re: Bitcoin fans

Unread post by mikestark » Mon Dec 03, 2018 10:53 am

Bitcoin and other crypto currencies certainly have a place in being able to free oneself from the potential currency problems worldwide being predicted.
Unfortunately these Crypto currencies have not achieved their primary goal - stable alternative to regular currency. The wild swings in pricing did make a lot of people a lot of money, but it has detracted from the primary goal.
I still believe once it stabilizes, it certainly has a place to protect the average person from the vagaries of currency weaknesses and being in the hands of the corrupt few (Federal Reserve etc)
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Re: Bitcoin fans

Unread post by zswobbie1 » Mon Dec 03, 2018 11:32 am

" I still believe once it stabilizes, it certainly has a place to protect the average person from the vagaries of currency weaknesses and being in the hands of the corrupt few (Federal Reserve etc)"

As well as the money laundering community, corrupt governments, arms merchants etc!
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Re: Bitcoin fans

Unread post by heinrich » Mon Dec 03, 2018 1:25 pm

Jack Welles wrote:
Tue Nov 20, 2018 11:15 am
My interest goes a bit further than that.

Many folk advocated piling in when it was high (and looked like a bubble - which proved to be the correct interpretation).

Now the price is down and it might just be time to start paying attention to it and none of the Bitcoin fans are saying anything ...
You say the bitcoin fans are silent, if they come out of hiding you'll just trash them again with your cynicism. They keep silent and get knocked for that too. Which is it?

Same as with absolutely anything like this (Forex etc) if you knew the way it's going to go, then you'd be the richest person on earth by a mile. Fact is no one knows, it's all just educated guesses.

Bitcoin may be dead, or something similar may be the flavour of the month soon, who knows. But blockchain itself is alive and kicking, and not going anywhere soon.

Disclaimer: I don't own any bitcoin...
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Jack Welles
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Re: Bitcoin fans

Unread post by Jack Welles » Mon Dec 03, 2018 1:52 pm

heinrich wrote:
Mon Dec 03, 2018 1:25 pm
Jack Welles wrote:
Tue Nov 20, 2018 11:15 am
My interest goes a bit further than that.
Many folk advocated piling in when it was high (and looked like a bubble - which proved to be the correct interpretation).
Now the price is down and it might just be time to start paying attention to it and none of the Bitcoin fans are saying anything ...
You say the bitcoin fans are silent, if they come out of hiding you'll just trash them again with your cynicism. They keep silent and get knocked for that too. Which is it?
It would appear as though I haven't expressed myself clearly (fatal flaw in one who tries to write 8-[ ).

When it was +- $19k I interpreted the market moves as looking remarkably like a bubble. Bitcoin enthusiasts were vociferously scornful and confident that it would go very much higher. I suggested only time will tell (I'm not sure that qualifies as cynicism - more like caution, perhaps?)

The price then came down.

Now that the price is substantially lower I'm thinking that it may just be getting to "buy" territory and I was surprised that Bitcoin enthusiasts weren't showing more interest. (I'm pretty sure that now being cautiously optimistic in Bitcoin's future doesn't qualify as cynicism either).

All of the above written from the standpoint of a (largely unsuccessful :D ) amateur trader who watches the markets. I wouldn't know a blockchain from a chain store. My view is based on market trading technical analysis.

So I hope I've dispelled your initial misgivings as to what I meant when I posted the bit you quoted?
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http://www.loreofnegotiation.com
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Re: Bitcoin fans

Unread post by Rotor kop » Mon Dec 03, 2018 2:00 pm

Now is the time to buy. Unfortunately i bought when it was around the R200k mark IIRC. Still sitting with them :evil:
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Re: Bitcoin fans

Unread post by Whirly » Mon Dec 03, 2018 2:03 pm

My advice.................................buy when the are 1c. :twisted:

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Re: Bitcoin fans

Unread post by cage » Mon Dec 03, 2018 2:06 pm

Whirly wrote:
Mon Dec 03, 2018 2:03 pm
My advice.................................buy when the are 1c. :twisted:

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Better to invest in Allo parts ;)

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