Bitcoin. Any experts/owners?

[YosemiteSam]

I think there is some money to be made short term. Im not going to invest 1000's in it or anything but I think if you put a few hundred in it you can make some small gains. I just don't want a lot of money on the table.


I'm looking at a coin right now called Icon (ICX). If I put some money down on one of these coins I think it's going to be that one.

Well, it's down over 50% in the last eight days. They say buy low and sell high. It's low now, but then again. With no real intrinsic value, it's not likely to go back up without someone manipulating the price and well. That would be their cheese to catch rats. Are you the rat for their cheese?

 

[Reality]

Well, it's down over 50% in the last eight days. They say buy low and sell high. It's low now, but then again. With no real intrinsic value, it's not likely to go back up without someone manipulating the price and well. That would be their cheese to catch rats. Are you the rat for their cheese?

There's something different about this drop compared to recent drops. With this one, you're seeing large investors buy up a lot of the selloff, but the moment they stop, the price starts falling again. In the past, when they did that, it seemed to calm fears and help start a rebound period. Now, it's appearing like a temporary bounce before another inevitable drop that goes lower than the last one.

 

[kskboys]

Bitcoin is guaranteed to implode at some point. It's nothing more than a giant ponzi scheme w/ no backing.

If someone wants to play w/ it and get in and out, sure, why not. Just don't bet your retirement acct. Only use money you can afford to lose. Because you are gambling, pure and simple, and the odds are against you.

 

[65fastback2plus2]

Bitcoin has absolutely no intrinsic value. Think about what that means before you pull the trigger. There is a reason Warren Buffet said what he said about cryptocurrencies.

cash has no intrinsic value...unless you're counting rolling it up and using it to snort coke

 

[65fastback2plus2]

There's something different about this drop compared to recent drops. With this one, you're seeing large investors buy up a lot of the selloff, but the moment they stop, the price starts falling again. In the past, when they did that, it seemed to calm fears and help start a rebound period. Now, it's appearing like a temporary bounce before another inevitable drop that goes lower than the last one.

if you go look at the charts, this is the 4th or 5th year in a row crypto has had a major, multi-day sell off in mid-january.

 

[Reality]

Did Bitcoin Just Burst? How It Compares to History's Big Bubbles
https://www.bloomberg.com/news/arti...ies-from-26-slump-as-traders-brave-volatility

...

Still, skeptics abound. Howard Wang of New York-based Convoy Investments LLC and Jeremy Grantham of GMO LLC have analyzed Bitcoin’s advance relative to past frenzies and concluded that it’s unsustainable. Grantham, who helps oversee about $74 billion as GMO’s chief investment strategist, summed up his concerns in a Jan. 3 letter to investors:

“Having no clear fundamental value and largely unregulated markets, coupled with a storyline conducive to delusions of grandeur, makes this more than anything we can find in the history books the very essence of a bubble,” he wrote

....

 

[Reality]

How BitConnect pulled the biggest exit scheme in cryptocurrency
https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoin-scam-cryptocurrency/

 

[YosemiteSam]

In the last 24 hours I think 90% of the cryptocurrencies and its derivatives are up!!!

 

[CATCH17]

Currencies are back up again.

There was money to be made.

 

[YosemiteSam]

Currencies are back up again.

There was money to be made.

...and money to be lost! Ask anyone who has invested in this garbage!

It's utterly ridiculous. Go ahead! Put your money down the drain!

 

[CATCH17]

...and money to be lost! Ask anyone who has invested in this garbage!

It's utterly ridiculous. Go ahead! Put your money down the drain!

Timing is everything.

When it was in a free fall was the time to roll the dice.

 

[YosemiteSam]

Timing is everything.

When it was in a free fall was the time to roll the dice.

So said the deer before he became roadkill.

 

[CATCH17]

So said the deer before he became roadkill.

Oh come on.

The bubble may burst in the long run. I wouldn't invest thousands of dollars but this is like being at the casino right at your computer.

 

[Reality]

This week’s Bitcoin crash was all about fraud and regulation
https://www.theverge.com/2018/1/18/16905040/bitcoin-crash-cryptocurrency-value-ethereum-regulation

 

[YosemiteSam]

This seems fitting.

https://lh3.***BROKEN***/-Yg4PJjY1FOk/Wl_ExvlOtUI/AAAAAAAAhEg/r7t0uw89fYkSRbNNorTg1iYrMgcDe6AFQCJoC/w480-h327-rw/pros.gif

 

[Reality]

 

[65fastback2plus2]

This week’s Bitcoin crash was all about fraud and regulation
https://www.theverge.com/2018/1/18/16905040/bitcoin-crash-cryptocurrency-value-ethereum-regulation

Whats funny is stocks and securities are regulated and fraud happens all the time. So, its kinda pointless to think regulation would fix the fraud.

 

[CF74]

This dude says he’s going to wait till it dips down to $8,000. Then he’s going to buy a ton. This made me think of @Reality post earlier in the thread about big money market manipulations.








I’m on the fence of gambling with $500 and then letting it ride. Holla atcha online gamblers...

 

[YosemiteSam]

I'm going to wait till it drops to ZERO then buy up 1,000,000,000,000 coins!

 

[65fastback2plus2]

...and money to be lost! Ask anyone who has invested in this garbage!

It's utterly ridiculous. Go ahead! Put your money down the drain!

Just more proof you dont have a clue.