Anyone Invested in crypto?

[bwframe]

If you were well invested in this, how tough would it be to cash out right now?

 

[Kutnupe14]

If you were well invested in this, how tough would it be to cash out right now?

As easy as a bank transfer. In places like Zimbabwe, a bitcoin is going for about $10K USD. People in nations with a fragile or non-existent financial systems can't buy them fast enough. I'm just telling people that they should look into the system, because it's still really early. But when mass adoption occurs, or even partial adoption, these things are going to explode. I don't want anybody saying "I wish I had known..."

 

[Kutnupe14]

Amazon has secured three new domain names related to cryptocurrency, sparking speculation that the e-commerce giant could be preparing a move into the cryptocurrency space.

https://www.cnbc.com/2017/11/01/amazon-buys-crypto-domains-bitcoin-ethereum.html

BTC price at time of posting: $6995

 

[Sailor]

Do not try day trading crypto's unless you already have thousands of hours of experience staring at charts.

 

[teddy12b]

Are there any index funds that are largely based on crypto's like bitcoin? I'm not 100% sold on bitcoin as a currency, but I certainly see it's potential to be a bubble that I wouldn't mind trying to ride on it's way up and jump off at some point.

 

[hoosierdoc]

https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

whoops

 

[Kutnupe14]

https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

whoops

Noobs, that's why you keep your investments in your own hands.

Bitcoin price at time of posting: $7438

 

[Kutnupe14]

[FONT=&amp]"While we are positive on Square's strategy, to the extent it confers legitimacy on Bitcoin and prompts adoption by other providers (i.e., PayPal) the biggest beneficiary may be the crypto-asset industry," Credit Suisse analyst Paul Condra wrote in a note to clients Monday entitled "Going Crypto: Exploring the Bitcoin Play."[/FONT]

[FONT=&amp]"We estimate that if Square can accumulate 10m bitcoin buyers over two years (tracking Coinbase's growth), this could drive an incremental $30m in revenue."[/FONT]

credit-suisse-square-to-post-30-million-in-annual-sales-from-bitcoin.html

Bitcoin price at time of posting: $8293

 

[budm]

Bitcoin price at time of posting: $8293

The rate of increase the past month has been fantastic, and really making me think that the predictions may be correct about 10k by end of year. Or at least Its definitely moving that way.

 

[BugI02]

Cryptocurrency ICOs are the tech bubble we have been waiting for - Business Insider

• Smart people like VC Bill Gurley are beginning to worry that cryptocurrency ICOs are a bubble.
• People are investing in Bitcoin and other digital coins even though they hold no equity value and offer no claims on any kind of underlying asset.
• On that definition, ICOs are actually worse than dot-com stocks in 1999 — at least back then investors owned a piece of a company with a revenue stream.
• Crypto bulls keep saying that Bitcoin is an established "store of value."
• The problem is that the value being stored is simply everyone else's agreement that there must be value here. There is no other asset. And that is what a bubble looks like.

 

[CHCRandy]

Cryptocurrency ICOs are the tech bubble we have been waiting for - Business Insider

• Smart people like VC Bill Gurley are beginning to worry that cryptocurrency ICOs are a bubble.
• People are investing in Bitcoin and other digital coins even though they hold no equity value and offer no claims on any kind of underlying asset.
• On that definition, ICOs are actually worse than dot-com stocks in 1999 — at least back then investors owned a piece of a company with a revenue stream.
• Crypto bulls keep saying that Bitcoin is an established "store of value."
• The problem is that the value being stored is simply everyone else's agreement that there must be value here. There is no other asset. And that is what a bubble looks like.

Sounds a lot like the US $.

 

[CHCRandy]

Cryptocurrency ICOs are the tech bubble we have been waiting for - Business Insider

• Smart people like VC Bill Gurley are beginning to worry that cryptocurrency ICOs are a bubble.
• People are investing in Bitcoin and other digital coins even though they hold no equity value and offer no claims on any kind of underlying asset.
• On that definition, ICOs are actually worse than dot-com stocks in 1999 — at least back then investors owned a piece of a company with a revenue stream.
• Crypto bulls keep saying that Bitcoin is an established "store of value."
• The problem is that the value being stored is simply everyone else's agreement that there must be value here. There is no other asset. And that is what a bubble looks like.

I got the double tap.

 

[BugI02]

Bitcoin quote 1/22/17 $923.00

Bitcoin quote 11/22/17 $8116.13

Growth YTD 879.3%

Average growth rate 24.3% per month

Projected 1yr growth (2017) 1357.7%



View attachment 61079 ​

 

[Kutnupe14]

Sounds a lot like the US $.

Negative ghostrider. The dollar is inflationary and centralized, bitcoin is not. You're applying old world thinking to something completely new and generally not understood by most financial gurus. Now, I will say, that without a doubt, ICOs are a bubble waiting to be popped. I think the dot com example is a good example. And from that boom and bust, emerged Amazon, Ebay, Priceline, and other blue chip stocks. I doubt any of the people who brought in during the speculative period of those companies think they made a bad decision. And for the record, with a market cap of less than $330B combined, "this" bubble is very, very mall. At it's height, before the "pop" the dot com bubble was at $2.9T, and based mostly on American properties. Cryptos are actually more popular outside of the US, meaning that $2.9T figure would need to be substantially higher to indicate an imminent crash (which IMO is unlikely). Let me just put it this way. If you bought in now, and the Crypto market cap reaches $1T, you will at the very least, triple, your money.... and not be close to any impending crash.

 

[Kutnupe14]

I cannot help but notice how similar the recent Bitcoin price surge looks to this archetypal bubble stages chart that was created by Dr. Jean-Paul Rodrigue:

https://www.forbes.com/sites/jessec...his-classic-bubble-stages-chart/#60aa0e4536b8

^^^That article was written Dec. 2013
BTC then: $1015
BTC now: $8200

Further, the rise and fall of the more well know bubbles:
Dot Com Bubble 1997-2001
Black Monday Cash 1982-1987
Tulip Mania 1634 -1637


Bitcoin 2009-?

 

[BugI02]

Negative ghostrider. The dollar is inflationary and centralized, bitcoin is not. You're applying old world thinking to something completely new and generally not understood by most financial gurus. Now, I will say, that without a doubt, ICOs are a bubble waiting to be popped. I think the dot com example is a good example. And from that boom and bust, emerged Amazon, Ebay, Priceline, and other blue chip stocks. I doubt any of the people who brought in during the speculative period of those companies think they made a bad decision. And for the record, with a market cap of less than $330B combined, "this" bubble is very, very mall. At it's height, before the "pop" the dot com bubble was at $2.9T, and based mostly on American properties. Cryptos are actually more popular outside of the US, meaning that $2.9T figure would need to be substantially higher to indicate an imminent crash (which IMO is unlikely). Let me just put it this way. If you bought in now, and the Crypto market cap reaches $1T, you will at the very least, triple, your money.... and not be close to any impending crash.

So, you're saying "new paradigm" then? lolz

The flip side is if you buy in now, it's a classic bubble, and you hold on long enough to avoid panic selling and it returns to the mean you'll only lose about 75% of your investment. If you bought in significantly under 2000 (which I believe you did, at least initially) your optimism that you won't lose money might be justified


ETA: Pull up an ENRON 5yr and place it next to a bitcoin 5yr

 

[Phase2]

So, you're saying "new paradigm" then? lolz

Newspaper advertising --> Google and Craigslist- paradigm change
Regulated taxi services --> Uber/Lyft- paradigm change
100s of thousands employed in the trucking industry --> coming generation of automated trucks- paradigm change
Democratization of ability to create media content --> decline in control by major TV networks, music industry, etc.- paradigm change
Worldwide remote communications --> outsourced software development, call/support services, even medical and legal services- paradigm change

Bitcoin and other cryptos --> Ability to create trust among people who would never even meet each other, enabling monetary and other services that we are still discovering, radically reducing transaction times and costs, while removing the need to trust in good-will and ability of political and money-backed power-brokers- paradigm change

As noted above, much like the DotCom bubble, there will be some long-term winners and many losers. Any one crypto solution may end up outright failing, including BItcoin itself. The lesson is that when the Internet comes for you, you should adapt or get out of the way, not bury your head in the sand.

 

[BugI02]

Look at how the high point (just before the free fall) on the bubble life cycle chart is labeled

 

[Phase2]

And yet cryptos have so much farther to go before mainstream adoption.

 

[Kutnupe14]

And yet cryptos have so much farther to go before mainstream adoption.

Exactly. In the chart posted earlier, were right at the stealth and awareness phase. The institutional money, is just now starting to trickle in.