Bitcoins - digital currency - Page 1193 - Business, Finances and Investing Forum

Yeah, it really is BAD NEWS for the computer science project Bitcoin, (which has run for 9 years now with 99.999% uptime) that some scumbags were able to manipulate the price that certain people trade for it in terms of fiat.

HODLers, as usual, unaffected.

Quote:

Originally Posted by TeflonDawg

But it's not nonsense. Governments and criminals can decimate a market. Throttle it even.

That's great. Too bad Bitcoin isn't a "market." It's a computer science project as an experiment to see if those who participate can send tokens to each other and the network can maintain proof of no double spends, all incentivized by the tokens. The fact that some speculators want to trade these tokens with each other for outside money has literally no bearing on Bitcoin itself. It's all just noise.

Quote

06-14-2018 , 03:41 PM

#29802

Didace

Carpal \'Tunnel

Join Date: Nov 2009 Posts: 19,888

Quote:

Originally Posted by zplusz

So it's no longer a currency? Or a store of value? Instead, it's a science fair project?

Quote

06-14-2018 , 04:16 PM

#29803

DoctorZangief

banned

Join Date: Aug 2014 Posts: 2,559

Purposefully being obtuse like usual Dids. What it is and how people use it are two different things. Gold is a rock. Use cases create value.

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06-14-2018 , 05:23 PM

#29804

Didace

Carpal \'Tunnel

Join Date: Nov 2009 Posts: 19,888

Oh, look. DrZ with another one liner. But since there is a small amount of content in this one (verses the usual no content), I will give it an answer.

Money, or value if you prefer, is an idea, not a thing. Something is worth what people think it's worth. If people see Bitcoin's "value" can be manipulated by a few nefarious actors, then the "use cases" go away - because who'd want to use something like that. The science project might then be a success but utterly worthless.

I'm also not necessarily a Bitcoin bear. I've said before it has a chance to be phenomenally successful. And if it is, it is a bargain.

Quote

06-14-2018 , 06:58 PM

#29805

HugeStacks

banned

Join Date: Jan 2018 Posts: 365

Quote:

Originally Posted by TomCollins

If you are going to get spooked by 20% losses, sell now and never look at BTC again. You are guaranteed to be a losing trader with this kind of strategy.

?? I'm not a "trader" and I have no "strategy". I simply made a few poker withdrawals at once, the money was in my account altogether, and then that drop day came and hit me for 20%. I'm not a bitcoin trader.

Quote

06-14-2018 , 07:26 PM

#29806

Mat Cauthon

adept

Join Date: Mar 2006 Posts: 1,147

Quote:

Originally Posted by HugeStacks

Chalk it up as variance, a bad beat for your poker roll. Could just as easily have gone the other direction. Equivalent things happened to me with regular currency, when I played on foreign poker sites. If you keep it there, hoping that price will increase again, then you're speculating, and should be prepared for the variance.
Good luck whatever you choose to do!

Quote

06-14-2018 , 09:24 PM

#29807

HugeStacks

banned

Join Date: Jan 2018 Posts: 365

Quote:

Originally Posted by Mat Cauthon

Thanks. We've actually rebounded nicely today and I've made back some money. As said, I have absolutely no previous experience with crytocurrency investing but I'm getting it now. I just got unlucky and the very same day my balance reached it's highest point after a few withdrawals, was the same day the prices crashed and it was a shock to me at first when I logged into my blockchain the next day.

Quote

06-15-2018 , 03:00 AM

#29808

CoolTimer

adept

Join Date: Feb 2013 Posts: 1,029

Best thing you can do is:

1. Put x amount of $ in Bitcoin. Enough to make it interesting, possibly sligghttly painful if you lose it.

2. Learn/study Bitcoin. You'll learn a lot quicker and more efficient if there's something at stake.

3. You'll find out it's excellent 'hard' money. And want more of it. But this step can ONLY be done with enough convinction because of step 2.

4. Just 'casually' selling your hard money will get very difficult.

Quote

06-15-2018 , 05:48 AM

#29809

chytry

Pooh-Bah

Join Date: Feb 2010 Posts: 4,334

^^ nah, buy vanilla

Quote

06-15-2018 , 06:15 AM

#29810

cbeaks

adept

Join Date: Mar 2008 Posts: 1,188

Quote:

Originally Posted by CoolTimer

Probably better to do your research before an investment. Also, consider other coins but as a general rule stick with mainstream ones to reduce the chance of being scammed. It's worth diversifying, how much is your choice, Probably best to not have too many coins to start with so you can keep track of them.

Quote

06-15-2018 , 07:36 AM

#29811

CoolTimer

adept

Join Date: Feb 2013 Posts: 1,029

Yeah, as a general rule you shouldn't put money into something you know nothing about. This was assuming you have an interest in the technology.

Also, since Bitcoin is hard to fundamentally value, and it has the potential of being groundbreaking/revolutionary, I'd say that putting some skin in the game if you have an interest in it is a good thing.

Quote

06-15-2018 , 10:32 AM

#29812

jukofyork

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 11,749

Quote:

Originally Posted by CoolTimer

Best thing you can do is:

1. Put x amount of $ in Bitcoin Plutonium. Enough to make it interesting, possibly sligghttly painful deadly if you lose it get too close to it.

2. Learn/study Bitcoin Plutonium. You'll learn a lot quicker and more efficient if there's something at stake.

3. You'll find out it's excellent 'hard' money. And want more of it. But this step can ONLY be done with enough convinction because of step 2.

4. Just 'casually' selling your hard money will get very difficult.

3. Profit.

Quote

06-15-2018 , 11:30 AM

#29813

cbeaks

adept

Join Date: Mar 2008 Posts: 1,188

Quote:

Originally Posted by CoolTimer

I'd say that putting some skin in the game if you have an interest in it is a good thing.

Completely agree.

Quote

06-15-2018 , 07:53 PM

#29814

rafiki

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 40,134

Monday price, over or under $6000?

Quote

06-16-2018 , 07:49 AM

#29815

bucktotal

old hand

Join Date: May 2006 Posts: 1,667

lol price on monday. i'd guess its 50/50 up or down. you think its going to rain in toronto monday?

Quote

06-16-2018 , 11:37 AM

#29816

NewOldGuy

Pooh-Bah

Join Date: Mar 2009 Posts: 5,935

Quote:

Originally Posted by bucktotal

lol price on monday. i'd guess its 50/50 up or down. you think its going to rain in toronto monday?

This is pretty accurate. There is no playable trend. It depends on the whims of the larger players at this point, nothing more. The logical play right now based on price action would be shorting, but then some whale decides to put in a mil tomorrow because it's "cheap" and you get screwed again.

Quote

06-16-2018 , 11:52 AM

#29817

rafiki

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 40,134

All I'm asking is for people to actually have a take on price. Is $6000 going to hold by Monday morning?

Don't look to complicate it beyond that. It's over or under.

Quote

06-16-2018 , 01:24 PM

#29818

tgiggity

Pooh-Bah

Join Date: Oct 2016 Posts: 5,782

Quote:

Originally Posted by rafiki

All I'm asking is for people to actually have a take on price. Is $6000 going to hold by Monday morning?

Don't look to complicate it beyond that. It's over or under.

I think it will

I also know nothing

Quote

06-16-2018 , 01:43 PM

#29819

fanmail

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 32,698

Quote:

Originally Posted by rafiki

All I'm asking is for people to actually have a take on price. Is $6000 going to hold by Monday morning?

Don't look to complicate it beyond that. It's over or under.

What is significant about Monday. It’s a 24/7 market.

Quote

06-16-2018 , 01:45 PM

#29820

fanmail

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 32,698

But to answer, I think it could break 6k soon. And if so, it may gap much lower. Not sure what the next buying zone would be.

Quote

06-16-2018 , 07:13 PM

#29821

Mat Cauthon

adept

Join Date: Mar 2006 Posts: 1,147

This is not a good place to discuss the price on such a short timescale. Providing some prediction for weeks, months or years ahead will generate better discussion, as long as you give good reasoning behind your predictions.
The price on monday? Roll a die, and give better odds to over, as we are at $6,500 now.

Quote

06-16-2018 , 07:43 PM

#29822

GreenSmoke85

Pooh-Bah

Join Date: Aug 2007 Posts: 4,427

lol better question, how much will it be Tuesday.

Rafiki why does it matter how much it is Monday morning?

Quote

06-16-2018 , 09:20 PM

#29823

NewOldGuy

Pooh-Bah

Join Date: Mar 2009 Posts: 5,935

Quote:

Originally Posted by rafiki

All I'm asking is for people to actually have a take on price. Is $6000 going to hold by Monday morning?

Don't look to complicate it beyond that. It's over or under.

The probability favors staying above, i.e. not changing much. A specific amount of change in either direction has a lower chance to occur than that. So I would place an even money bet on over.

Quote

06-17-2018 , 06:55 AM

#29824

cbeaks

adept

Join Date: Mar 2008 Posts: 1,188

A level-headed outlook for bitcoin price and the next bull run

Bitcoin Bull Market Considerations

Quote

06-18-2018 , 12:27 PM

#29825

businessdude

Carpal \'Tunnel

Join Date: May 2007 Posts: 10,913

I'm going to take a Bovada withdrawal in bitcoin - have never used bitcoin previously. Are all the wallets pretty much all good at this point? IOW, can I just pick a wallet Bovada has listed on their site and go with it?

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