Is it time to buy BITCOIN

btc always drops around Christmas.

Absolutely not time to buy bitcoin.

For Bitcoin to rise up again, it needs mom and pop investors to be shovelling their money in as they did at the height of the boom.

But they tried that, they all lost fortunes, so I'd be astonished if they shovel money in again.

When the stock market tanks (this is a when, not if) I will be carefully watching the crypto markets.

I do wonder how many will attempt to hedge there.

a reply to: JinMI

thats what I'm doing. I have xrp for inner banking trade, and etn for non-banking trade. We are entering into the next 10 year down cycle, where we have a recession, things suck then it starts to recover for 2-5 years. Its going down and slowing down now. Give it another year of downward pressure, and we will see what happens with crypto in 2-3. In the meantime, I'm buying 10k. Worse case, I lost 10k. That said, I remember reading about bitcoin at .23 cents. Talked to my now ex-wife about it. She gave me a pile of # about how stupid I was to want to buy 500 worth. So I didn't. Had I bought at .23 cents and sold at 20k at the peak. I would have made 30 million........ Reason 4,000,998 of why we divorced I suppose.....

Camain

Diversified my income

originally posted by: notsure1

originally posted by: eXia7

originally posted by: notsure1

originally posted by: eXia7
It's time to invest in real assets. You just witnessed the rise and fall of bitcoin, and now you're considering investing?

Whatever happened to tangible assets? Buy a property to rent, buy office space to rent, start your own business, for the love of god, stop giving your money away for nothing.

I am a gambler by nature.and yes I am considering a little gambling on it.

And I do invest in tangible assets but whats wrong with trying different things? its just money

It's your money. Your call. Just sharing my thoughts.

A fool and his money...

I should probably run out and buy the new I phone huh or a gaming computer?

Like I said, a fool and his money.

if I only had a ledger of just who owns BitCoin right now....
If a majority of owners were well heeled Billionaires then Yes !
If the majority of owners were poorer types, clinging to Hopes/Wishes for a return to a $20K plateau...then No !

the extreme rise & fall is a required rite-of-passage, so as to dump the 'Weak hands' holders of the Asset in question in favor of the 'Strong hands' class of investors in what will be deemed a Classic Item, be it Art/or bit coin/ or whatever those with wealth decide is collectable and of value in any Future World situation


somebody does indeed have that info. but only those in power could possibly access that highly secret info.

originally posted by: eXia7
It's time to invest in real assets. You just witnessed the rise and fall of bitcoin, and now you're considering investing?

Whatever happened to tangible assets? Buy a property to rent, buy office space to rent, start your own business, for the love of god, stop giving your money away for nothing.

You don't know much about market cycles do you? Now is the worst time to buy property. Prices are high and the bubble is about to burst. I'm not saying buying real assets is bad. But just like every market, it has a time to do so. Right now is not it.

Bitcoin's bubble burst about a year ago. It WILL go up again. That is the nature of markets. A few years ago, Bitcoin dropped over 90% in value. Everyone was thinking the same as you're thinking now. Guess what happened then...

I'm not sure if now now is the time to buy. I can tell you that we didn't reach the bottom yet. And it will take a long time before we break 6k again. It's up to you to decide whether now is low enough to buy or not.

People always cash out for the holidays.
If you're looking for a 10% recoup then go for it, if you don't mind waiting til February.

Bitcoin Options Purchased for $1 Million Will Soon Be Worthless

"The biggest-ever bet on Bitcoin options is about to expire worthless," reports Bloomberg:
Purchased for almost $1 million on LedgerX's trading platform just days after Bitcoin peaked a year ago, the call options have a strike price of $50,000 and an expiry date of Dec. 28, 2018. For the contracts to retain any value at expiry, Bitcoin would need to rally more than 1,400 percent.

Link

That was some optimism. Win some. lose some.

Looks like the holders that bought 1000s of BTC years ago, are bailing. BTC has really nothing going for it. Not viable as for transaction in the sale of goods, Hacks and theft, slow, unreliable network, etc. The only thing I see it could be used for is as a vehicle for anonymous illegal transfer of money, which governments are cracking down on to outright banning it.

The only reason that the price is declining slowly is because the exchanges throttle withdrawals.

The future value of BTC will be less than 1 USD. All fads eventually fade away.

I'm still throwing a few dollars in crypto a week. People think that I am crazy.

I regretted not getting in before the last boom. Now I'm buying all of the way to the bottom of the bust. If I lose, well then I lose.

I'm not putting a substantial amount of money in, but I still am. Although I dont own any bitcoin, I do own several other coins.

a reply to: notsure1

Any money invested in Bitcoin today will have at least another zero on it within 2.5 years.

a reply to: notsure1
Ponzi scheme: "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

Definition from google. Some people are quite cunning in finding their way around the existing laws in place to counter Ponzi schemes (usually involving talk about "bubbles"). From wiki:

Economic bubbles are also similar to a Ponzi scheme in that one participant gets paid by contributions from a subsequent participant (until inevitable collapse). A bubble involves ever-rising prices in an open market (for example stock, housing, cryptocurrency,[16][17] or tulip bulbs) where prices rise because buyers bid more, and buyers bid more because prices are rising. Bubbles are often said to be based on the "greater fool" theory. As with the Ponzi scheme, the price exceeds the intrinsic value of the item,...

originally posted by: whereislogic
a reply to: notsure1
Ponzi scheme: "a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

Definition from google. Some people are quite cunning in finding their way around the existing laws in place to counter Ponzi schemes (usually involving talk about "bubbles"). From wiki:

Economic bubbles are also similar to a Ponzi scheme in that one participant gets paid by contributions from a subsequent participant (until inevitable collapse). A bubble involves ever-rising prices in an open market (for example stock, housing, cryptocurrency,[16][17] or tulip bulbs) where prices rise because buyers bid more, and buyers bid more because prices are rising. Bubbles are often said to be based on the "greater fool" theory. As with the Ponzi scheme, the price exceeds the intrinsic value of the item,...

There's a clear difference between those though. Ponzi schemes as such generally involve a pyramid scheme, where there's chain selling, and the later buyers have to buy at a higher price in order for everyone in the pyramid to get a portion.

A bubble occurs in a free trading market, where everyone is free to buy and sell the commodity at their own desire. A bubble is a normal phase in any market...
As for Bitcoin, it is hard to determine its intrinsic value. It is basically determined by people's willingness to use it, and what it costs to mine it. Right now, its price is below what it costs to mine it. And since its inflation rate slowly but surely declines, its value inevitably goes up. It's the reason the Bitcoin bubble popped many times but still managed to recover again and again and again, unlike Pyramid schemes, which are dead once they collapse.

a reply to: vasaga

There's a clear difference between those though. Ponzi schemes as such generally involve a pyramid scheme, where there's chain selling, and the later buyers have to buy at a higher price in order for everyone in the pyramid to get a portion. A bubble occurs in a free trading market, where everyone is free to buy and sell the commodity at their own desire. A bubble is a normal phase in any market... As for Bitcoin, it is hard to determine its intrinsic value. It is basically determined by people's willingness to use it, and what it costs to mine it. Right now, its price is below what it costs to mine it. And since its inflation rate slowly but surely declines, its value inevitably goes up. It's the reason the Bitcoin bubble popped many times but still managed to recover again and again and again, unlike Pyramid schemes, which are dead once they collapse.

This is complete pure capitalism at its best. No interference from crooked egg stealing humans. Just fear and lust for money.