Bitcoin - a decentralised digital currency

1,780 posts in this topic

€3526 ↑

 

Bounced the other way :mellow:

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59 minutes ago, LeCheese said:

€3526 ↑

 

Bounced the other way :mellow:

 

I think it’s still dipping overall. People tend to invest in Gold, silver and even bitcoin when they have no faith in common currency. 

 

I think this will come to happen shortly before brexit which will coincide with the initial stages of the Trump impeachment proceedings. 

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On Freitag, 14. Dezember 2018, LeCheese said:

€2858 ↓

 

1 hour ago, LeCheese said:

€3526 ↑

 

Bounced the other way :mellow:

 

Wonder what possible events might've happened between the 14th and 21st of December that could've caused that ... :unsure:

 

hmm, let's see,

 

maybe a lotta ppl

 

were actively

 

using BTC

 

to do their

 

online

 

CHRISTMAS SHOPPING !!! :lol:

 

2B

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5 hours ago, MikeMelga said:

No, because it is gone, you can´t recover it. Gold, on the other hand, has industrial applications, 50% of it is used for production.

 

Indeed.  The fact it's expensive to make doesn't fundamentally make something valuable.  I stand by my earlier statement that BTC is a fiat commodity.

 

It is literally worthless but people speculate on it because people speculate on it.  And as with all such pump and dump, junkbond, tulip systems it maintains itself with loads of people loving it until the market realises that the emperor is indeed naked then it turns to dust.

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31 minutes ago, zwiebelfisch said:

It is literally worthless but people speculate on it because people speculate on it

 

That is the exact opposite of worthless. 

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5 hours ago, zwiebelfisch said:

It is literally worthless but people speculate on it because people speculate on it.  And as with all such pump and dump, junkbond, tulip systems it maintains itself with loads of people loving it until the market realises that the emperor is indeed naked then it turns to dust.

 

People speculate because they think they're going to make money.   "invest in stocks, property, or other ventures in the hope of gain but with the risk of loss.".  This may be due to the fact that they see the money other people have made and believe it will be easy to have such luck, but your endless recursion here makes no sense.  

 

pump and dump schemes are illegal afaik.  The crypto market is extremely small and has at least until now been largely unregulated.  Times are changing, however, and when possible, regulators will begin going after pump and dumpers.  It is hard to do so, however, as bitcoin is relatively worthless, so groups of wealthy people, criminal or otherwise, can profit greatly from pumping and dumping.  An idea of how small bitcoin is: Apple has 3x as much cold hard cash on hand and ready to spend as the total 'market cap' of bitcoin.  

 

The novel idea in bitcoin is not that there are naked emperors, but that we have come up with a way to make digital money impossible to counterfeit. While I can copy pictures on my phone and send them to many people, I can't do the same with bitcoin.  But you can do this allready with your banking app?  Sure, but you are relying on a third party, namely your bank, which may or may not be solvent and may seize your funds at any time.  While the bitcoin network itself is theoretically attackable, the attacking party will not be able to spend other people's money during the attack, and the attack itself (double spend) will be free for everyone to see.  Whereas when your bank goes insolvent, you might not know until you read about it in the paper months later.  

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21 hours ago, Cammiede said:

 

That is the exact opposite of worthless. 

 

I have some exceedingly valuable tulips, I can do you a fantastic deal.  Let me know if you are interested, but be quick the price is shooting up!

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17 minutes ago, zwiebelfisch said:

 

I have some exceedingly valuable tulips, I can do you a fantastic deal.  Let me know if you are interested, but be quick the price is shooting up!

 

What a juvenile, pre-packaged response. 

 

Just because almost everything loses value over time doesn’t mean you can’t make money on it before it does. 

 

 

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3 hours ago, Cammiede said:

 

What a juvenile, pre-packaged response. 

 

Just because almost everything loses value over time doesn’t mean you can’t make money on it before it does. 

 

 

Just because you can make money out of it doesn´t make it legal.

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31 minutes ago, MikeMelga said:

Just because you can make money out of it doesn´t make it legal.

 

:o Really!?!?

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On 12/21/2018, 7:31:16, Cammiede said:

 

That is the exact opposite of worthless. 

:PSettle down, youngster!

The definition of worthlessness is a bladeless knife without a handle.

You can´t get the staff....

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To an extent, Cammiede is right, insofar as ANY currency is only worth the value people put on it. After all, paper isn't worth much, but we are happy to take it as long as it has been printed by the relative government treasury department.

BITCOIN hasn't.

When you earn money in any currency, you are taking a risk. In my case, I am having a real problem in deciding between the Euro and the British Pound. I don't know which the riskiest paper is to hold at the moment.

I also have a big problem in understanding how the US Dollar could possible be the currency of choice for many investors. The US has the biggest budget deficit in recorded history which SHOULD mean that its value should fall through the floor, but it doesn't.  Again, public sentiment?

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4 hours ago, Cammiede said:

 

What a juvenile, pre-packaged response. 

 

Just because almost everything loses value over time doesn’t mean you can’t make money on it before it does. 

 

 

I think that might have been an irony-alert post by zwiebelfisch!!!:rolleyes::rolleyes:

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2 hours ago, Acton said:

To an extent, Cammiede is right, insofar as ANY currency is only worth the value people put on it. After all, paper isn't worth much, but we are happy to take it as long as it has been printed by the relative government treasury department.

No, there is a government behind a currency, that can support its value by other means.

Except for 3rd world countries or sub developed countries with crook governments, the system has worked pretty well for the past 100 years.

 

2 hours ago, Acton said:

When you earn money in any currency, you are taking a risk. In my case, I am having a real problem in deciding between the Euro and the British Pound. I don't know which the riskiest paper is to hold at the moment.

The risk is on the BP. Euro is a much more sound currency, but even BP won´t devalue more than 30% in the short-mid term.

2 hours ago, Acton said:

I also have a big problem in understanding how the US Dollar could possible be the currency of choice for many investors. The US has the biggest budget deficit in recorded history which SHOULD mean that its value should fall through the floor, but it doesn't.  Again, public sentiment?

No, US dollar is how international deals are made. Example: a deal between a German and Korean companies is usually settled in dollars. The dolllar is much bigger than US and is largely independent of national debt.

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17 hours ago, Cammiede said:

 

:o Really!?!?

 

Don't hold your breath waiting for an explanation of why it's illegal :lol:

 

had a look at Palatin again and remembered the post below..

Current Palatin price €0.67.  Says all you need to know ;)

 

General consensus is that the stock is severely undervalued. Target prices go from $2 to $30. Current price is around $1. I bought it below $0.5.

 

 

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20 minutes ago, LeCheese said:

 

Don't hold your breath waiting for an explanation of why it's illegal :lol:

 

Yeah. I just love the way people make some obvious statement that has nothing to do with bitcoin, then walk away as if they have saved us from ourselves. 

 

Just because tulips can be bought, doesn’t mean they can be legally smoked or something to that effect. 

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My initial 1 EUR 'investment' is now worth EUR 2.70.  Still more than double, but I should have bought that beer while I had chance.

 

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