its at a big low for sure, I don't have any but I think facebook is working on a cryptocurrency as well. Don't know how that would affect it either way.It was over $12,000 in July
It's a little over $7000 today.
I am considering buying a couple since it's on a major dip.
Many of their well-established financial industry members have abandoned it in the last few weeks.its at a big low for sure, I don't have any but I think facebook is working on a cryptocurrency as well. Don't know how that would affect it either way.
Most crypto-currency is controlled (and manipulated) by a small number of mega-investors, many of whom use average people as interest generators by selling large (to most people, small to them) batches of their cryptocurrencies, waiting for the sell-off panic and inevitable price drop, then re-buying all of it and more back at a discount, then rinse and repeat.
@Denim Chicken nailed it. You explained the stock marketCrypto-currencies .. at least in their current iteration .. are nothing more than a scam waiting to happen.
You are buying an idea with no actual asset-based value that you hope one day to sell to someone else who wants to buy an idea with no actual asset-based value.
Most crypto-currency is controlled (and manipulated) by a small number of mega-investors, many of whom use average people as interest generators by selling large (to most people, small to them) batches of their cryptocurrencies, waiting for the sell-off panic and inevitable price drop, then re-buying all of it and more back at a discount, then rinse and repeat.
If you time it right, sure you could make money, but the difference is, there is no oversight so if the average person loses big, loses their crypto-currency wallet or their crypto-currency exchange gets hacked, they are screwed without any recourse.
Actually, there are TWO huge differences between the stock market.You just described the stock market
Afraid not. If it were run like the stock market, every crypto-currency would have a value well below $1.@Denim Chicken nailed it. You explained the stock market
You just described the stock market
Without question they would be penny stocks.Afraid not. If it were run like the stock market, every crypto-currency would have a value well below $1.
I know several people who made really good money off bitcoin..
The only thing I basically am trying to decide is if I buy in under $8000 and it rises to around the $12K mark I will immediately cash out and wait until it drops again and buy in again.
I know people who have made money from it as well, just like I know people who have won money at casinos.I know several people who made really good money off bitcoin..
The only thing I basically am trying to decide is if I buy in under $8000 and it rises to around the $12K mark I will immediately cash out and wait until it drops again and buy in again.
You do realize that bitcoin was at $3,200 in December of last year right? If you buy at 8k, and it does that again, you will lose $5k for each coin you buy.I know several people who made really good money off bitcoin..
The only thing I basically am trying to decide is if I buy in under $8000 and it rises to around the $12K mark I will immediately cash out and wait until it drops again and buy in again.
The first difference, is that stock of companies based on their asset and revenue valuation.
The second, and by far, most important difference is that the SEC closely monitors the stock markets to stop insider trading and stock manipulations. .
With all due respect. That isn't direct price manipulation. (they are removing float shares) For one, a company has x amount of shares whether they buy the stock back or not. So, profit per share does not change, only the float (link for definition) does. When you calculate profit per share, ALL shares are counted. Not just the float....and when their revenues aren't growing enough to justify their stock values, they buy back massive quantities of their own shares thus boosting boosts the calculation of profit-per-shares, manipulating the price, which is exactly the same type of manipulation occurring in cryptos.