At the pinnacle of the Tulipomania, the most prized bulb, the Semper Augustus, sold for 20 times the price of an average house. £3.5m in our terms. Crazy money. You could pay a moderate centre forward for a year with that.
I know what you mean. Went out for Sunday lunch at the weekend and my Mother in Law told me she’d bought some Bitcoin! That’s when I thought to myself the games up. That said I think it’s all still in it’s infancy and there is still big money to be made elsewhere.
I've been meaning to replay for a while, sorry for the delay. There's no one source unfortunately and so I get scattered news from numerous places. I'm a member of to a few groups on Facebook, but the content is 96% crap (which coin shall I buy to make me rich, why is coin xxx not going up) etc, but there are a few genuinely smart people whom I know to look out for. Kurt Connolly and Revv Nissan are two I follow. Once you get some idea of the sort of coins you are interested in, I'd add them to you blockfolio to see the price movements, Sign up to whichever exchange has a market for them (coinmarketcap.com will tell you which exchanges has each coin, or you can find out through blockfolio but it's not 100% reliable). Plenty of info on Reddit, but similar rules apply as Facebook, so be prepared to filter out bs, join slack channels, telegram groups and discord chats for the coins you are really into. My pf at this moment, as per Reid's post: Ven - I think this could be the next neo. Rebrand coming soon. Rise - I think it's still underpriced and the first project is launching soon Zcl - free airdrop of Bitcoin Private which is a new privacy fork of Bitcoin. It's 1:1 with Bitcoin or zcl and zcl is currently at about 100 quid, compared to 8k for Bitcoin, do the math. Even the crappier forks, such as Bitcoin Gold hit exchanges at 250 odd quid, and Bitcoin Private seems to have wider support and genuine utility potential. WtC - hold just a few as it's another Asian coin with huge potential Pwr- again just a few but big potential for sharing solar energy without needing to have a centralised grid Dbet - .gambling coin where you can put your coins into the house pot and share the profits of the casino Sia- hard drive sharing app, think air bnb for Dropbox Neblio - know nothing about it but it's hyped and I saw it dip low so bought a few for the craic I think that is mostly it. I was big into neo but sold for s big profit, not realising that it was then gonna go like 4 times higher still.
Nice, thanks for the reply. Just spent the last week in a crypto hole researching this stuff non stop. Am seriously hooked now, not because Im inherently interested in tech but more that its plain to see that this is world changing technology that has the potential to drastically change the way we exchange information as a global economic entity. Have been applying for lots of ICOs , just to get my name on and then decide whether to invest later. But mainly concentrating on researching the core fundamentals of blockchain tech, as I think a long term approach is far, far safer for relative noobs. Day trading is the fastest way to lose your money for sure. Masternodes was my pet subject today, but will stay away from that until I know more about the tech, but the potential for high returns is huge, but maybe the market is now inundated with products that will never last the distance. Am aiming for a 3 tier investment approach with a 20k kitty. 1- Blue chip cryptos, that are low risk long term bets ( as low risk as a crypto can be at this point in time!) 2- Secondary cryptos already listed on exchanges, but not yet fulfilled potential. 3- ICOs - high risk, low stake to either flip quickly or HODL if I believe in the project fully for long term. So far, all Ive actually bought is Pagarex which is an ICO listing in 6 days time, and some ETH on my credit card whilst I wait for my SEPA to clear on Coinbase. Dont intend to stay on Coinbase but my noob tendencies made me stick to that until Im fully up to speed with hard wallets and Alt exchanges etc.
There’s a lot of whales manipulating the market , making lots of money from us retail investors. This is why I’m only investing long term .
What did he do out of interest? Queued to buy some more eth at 601 euros, watched it get matched around 12:45 Get back from lunch to a notification that its up 20% since. Lovely stuff. Expecting a bull run now (edit: as in over the next few days)
Banned advertising of crypto currencies on facebook and made everyone panic. Yet the rest of the crap advertising on facebook we still have to put up with. Bet he sold his stock just before the ban and bought it back at a discount just after it was announced. cockwomble of the highest order. ETH tracker:
You just know it. And/or told other major players what he was going to do, so as to garner back scratching favours down the line . Either way, I dont think it will affect the long term position because , at the moment , most of the new Dapps are being built on Eth network. Even if 90% of those ICOs fail you will still have a large number of companies in a huge growth industry using their tech. The only question is whether Ethereum can solve their scaleability issues without being hampered by their requirement to reverse engineer any improvements for the large number of comapnies who are already using their platform. This will allow some of the other version 3.0 blockchain companies to break into the top 5.
Ah right, thanks. Yeah wouldn't surprise me but then it's no worse than the other big players I suppose
I still don't understand any of this stuff - in particular what is the value behind any of these cryptos. I seem to recall that at its peak, Bitcoin had a 'capital value' of $284bn. And now it transpires that it requires the power output of a small country to make it work - so can we assume that Bitcoin is done? Is what we are seeing a whole raft of cryptos fighting it out to see which one will be the 'VHS' while the Betamaxes and the Philips 2000s fall by the wayside? Or is there more to it that I can't see? For your delectation and outrage: https://www.theguardian.com/technol...story-says-economist-who-predicted-2008-crash
No, this is pretty much spot on. There are a lot bad crypto projects around, similar to the dotcom goldrush. Hopefully the VHS equivalent doesn't win this time though, since it was the inferior tech.
Thanks. So we can agree that nearly all of these cryptos will be worthless eventually (maybe all of them if 'VHS' hasn't been created yet) and what is going on is wild speculation and therefore 'a bubble'.
Just bumping this for you Reids , as it makes great reading. I remember reading this at the time you posted it ( in July 16) and thinking I should keep an eye out for this and then life got in the way and so I didnt get round to it until a fortnight ago. Either way , I still think we only chapter 2 or 3 with this , still early days. On the subject of Ethereum, step into this link and sort by platform and you ll see of the 581 tokens , almost 500 are based on the Ethereum platform. https://coinmarketcap.com/tokens/views/all/ So congrats on spotting that over 18 months ago.
Yes , but the challenge is this .... 1- pick the ICOs that need to be sold quickly for a profit 2- keep the ICOs that look like long term bets 3 - avoid the ICOs that are a piece of **** 4 -most importantly , pick establishes cryptos that have a decent long term business plan . So , no different than the advice for picking stocks in the existing , established market . The difference is that with Blockchain tech you have a fundamental shift in the way the world is run, possibly even more than the advent of the internet . What this means to he investor is that every investment decision you make has the insurance that you are investing in an overall, long term bull market . Yes , at least 90% of Blockchain companies starting now won’t exist in 2 years , you can still make money short term off the hype and long term off the next equivalent of Amazon , UBER, NetFlix, Twitter , AirBnB etc etc etc . None of these companies even existed when the dot com boom happened in the nineties.
Ross. Compadre. Read this back and contemplate. Listen to yourself. When you're lying in bed at night. What have you become? Is this it? Is this life? You know that we Kremlins are not speculators. We are the opposite of speculators. Anti-speculators. Contra-Speculators. Reverse speculators. I do not want to be patronising, but from your previous posts we know you are a decent enough chap. We know you have blood in your veins. You're making yourself a pappy show in this nonsense. Don't be mixed up in this foolishness. I would make a blue chip appeal to your better sentiment.
If you opened your mind Comrade, you would understand that Blockchain technology has the potential to be the greatest democratising force in the history of humanity . At its core, it is a tool to decentralise power/money and therefore control away from pretty much every power structure that has been built up over the past 6-8000 years, since ruling elites first learnt to control the populace after the advent of agriculture. Agriculture facilitated the stockpiling of grain/rice etc which then allowed the specialisation labour. Unfortunately it also facilitated the manifestation of ruling elites , which is when humanity transitioned from a inherently democratic , decentralised power system of hunter gatherers to the hierarchical power based structure that has plagued us for 6-8000 years . But of course as a genuine Marxist yourself , Clive , you d already know all this anyway .
Go ahead compadre then. Do what you have to do. What importance to me one rose more or one rose less. I would say you're convincing yourself, but I can only make an appeal. If that's what you think is right. Go ahead on.
People said that about social media and look at the state of twitter and facebook these days. I don't see how crypto - as it's currently going - is going to undo power structures. Almost all coins are full of people who have massive holdings that will just become the new elites if it ever makes it big. Another bleak future is that big tech companies like Google run their own blockchain network and take an even stronger hold on our lives.
Yes Yes sir. Bleak future. Don't have nothing to do with it is my suggestion. Face up to reality instead. That's what I suggest. I can only suggest. I can't force. You can do what you want.
I don't think ignoring it is the answer, change is going to happen whether you like it or not. People should be more skeptical of the Tech Industry and Silicon Valley though.
You re entitled to your opinion but I think if you researched it more comprehensively you might think otherwise .
Clive , revolutions have changed and evolved . We don’t storm the Bastille or the Winter Palace anymore . Replacing one centralised power structure with another the same , diesnt change anything . Even if the incumbent has all the best intentions . The only way to truly create a fair society is to decentralise all power whether it be political , legal , economic etc . Technology is our only hope of achieving that goal . We just have to make sure that the malevolent forces within society don’t co opt it like they have done previously . You re obviously s nice chap Clive and probably a troll but even if you’re not , I doubt you ve ever actually read any Marx or other great politucak theorists .
Llloyds have ****ed us over now. https://uk.yahoo.com/finance/news/lloyds-bans-credit-card-customers-050315394.html Technically if it's not illegal can a bank actually dictate you you spend your own money? It's only going to go one of two ways. The decision will be reversed or other banks will follow.
Yeah. Looks like Bitcoin is going to sink under weight of regulatory action in the short to medium term. Might bounce back eventually but I'm writing off what I put into that before Christmas.
Investing in such a volatile unit using a credit card is madness. I really hate to say it but I get why they're doing it. The whole thing about gambling, (and this is what it is for many uninformed people), is only invest what you can afford to lose. If you need to do it on credit then you're a ****ing idiot.
I see it as saving people from theirselves. I'm sure many on here have experience with what they are doing, but far too many people are buying these things without properly considering the risks. Same has happened with the proposed changes by the ESMA. Too many people getting involved in high risk leverage without knowing the consequences. Frankly, cryptocurrency is not something I'd touch with a barge pole. The amount of scope for market manipulation is terrifying.
