Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[RED-DOG]

Also worth adding, I'm quite jealous of those that bought cheap:D  Hope you are making a lot.

What's the most you would pay for one now if you had to keep it for at least a year?

[Graham C]

Out of my own money?  I wouldn't pay the current price.  I'd have been unsure getting in at about $100 in the past.   Perhaps I should go for one of the alternative currencies that are around $1 each (NEM?)  I probably should have read a bit more about it when I first heard of it.

Even if I bought in to one of the others, it would only be because I've seen what Bitcoin is doing/has done.  

I have no idea what I'd get involved at to hold for a year.  I'd probably have to look back a year or two and pick something that if it crashes, it wouldn't be that much of an issue.  I'll just have to watch others getting rich around me!

[RED-DOG]

Out of my own money?  I wouldn't pay the current price.  I'd have been unsure getting in at about $100 in the past.   Perhaps I should go for one of the alternative currencies that are around $1 each (NEM?)  I probably should have read a bit more about it when I first heard of it.

Even if I bought in to one of the others, it would only be because I've seen what Bitcoin is doing/has done.  

I have no idea what I'd get involved at to hold for a year.  I'd probably have to look back a year or two and pick something that if it crashes, it wouldn't be that much of an issue.  I'll just have to watch others getting rich around me!

Lol ffs Graham....

So let's do this the hard way. Would you pay a tenner?

[Graham C]

I kind of said I'd get involved with an alternative one that's cheap.  How can I say if I'd get in at a tenner? Of course I would now, I know what happens.

OK, a new currency at a tenner, I'd buy a few.  I'm wouldn't invest thousands, might go a couple of hundred.

[typhoon13]

John McAfee (Anti Virus founder) tweeted this earlier:

Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else

Thoughts?

Been great watching this thread develop.

I'm a bit mystified by that - can someone explain that to me please?

How are bubbles & corrections "mathematically impossible" in Blockchain?

Blockchain in one form or another is going to be with us for the foreseeable future

The younger generation can see the massive advancement this holds

Whatever happens to the price it will always bounce back

He is comparing it too the sort of things likes...email...CDs ..internet...Pay Pal..wifi...Smart phones....basically blockchain is massive advancement

Well I don't doubt for a moment that Blockchain is here to stay, & that it is an "advancement".

My question was why is it immune to bubbles & correction?

I presume he thinks the price will just march on

Its short history already shows its not immune to correction

Take a look at the Perry Marshall link its interesting

What happened to the price of CDs and smart phones? Did they just march on?

I imagine bitcoin's biggest threat is another crypto becoming the major force in the crypto market, surely there isn't room for them all?

People could abandon bitcoin as quickly as they abandoned Betamax.

Firstly i am not a physical holder of any form of cryptocurrency and never have been

I am a 24/7 (addicted) trader long and short of the price movements on Bitcoin, Bitcoin Cash and ether, so i hold no bias on fors and againsts

You query did CDs and smart Phones march on, the point McAfee and Marshall are trying to make is that the technology of cryptocurrency based on Blockchain technology will pave the way for greater things just like CDs and Smart phones did, whether its Bitcoin, Lite coin etc nobody Knows yet, the only advantage they hold at the moment is their head start

All IMHO

[RED-DOG]

I kind of said I'd get involved with an alternative one that's cheap.  How can I say if I'd get in at a tenner? Of course I would now, I know what happens.

OK, a new currency at a tenner, I'd buy a few.  I'm wouldn't invest thousands, might go a couple of hundred.

OK. Same question to anyone else who doesn't currently have bitcoin. How much would you pay for one today on condition that you can't sell it for at least a year?

[RickBFA]

Is it too simplistic to say if speculators can force a run on the pound, then they can easily force a run on any currency including bitcoin?

Speculators will take it up and then bring it crashing down.

Question is not if but when.

[SuuPRlim]

I think there's some factors that apply to Bitcoin that don't apply to regular fincial markets...

Bitcoin is an animal

[Doobs]

John McAfee (Anti Virus founder) tweeted this earlier:

Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else

Thoughts?

Been great watching this thread develop.

I'm a bit mystified by that - can someone explain that to me please?

How are bubbles & corrections "mathematically impossible" in Blockchain?

There is no maths involved, his words are just gibberish.  I assumed the whole statement could only have been intended as satire.  It is like when you read a trump tweet, the instinct is to argue with what he says, but surely the person controlling this account is just going to stand up and say "fooled you" in a couple of months.  Then I'd feel like a right nitwit for taking it seriously.

FWIW shorters/speculators don't cause crashes, the people who pay too much do.  

[tikay]

John McAfee (Anti Virus founder) tweeted this earlier:

Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else

Thoughts?

Been great watching this thread develop.

I'm a bit mystified by that - can someone explain that to me please?

How are bubbles & corrections "mathematically impossible" in Blockchain?

There is no maths involved, his words are just gibberish.  I assumed the whole statement could only have been intended as satire.  It is like when you read a trump tweet, the instinct is to argue with what he says, but surely the person controlling this account is just going to stand up and say "fooled you" in a couple of months.  Then I'd feel like a right nitwit for taking it seriously.

FWIW shorters/speculators don't cause crashes, the people who pay too much do.  

Ahh yes, looks like I get whooshed.

It can only have been satire, or sarcasm.

[typhoon13]

Correction taking place at the mo

[acegooner]

John McAfee (Anti Virus founder) tweeted this earlier:

Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else

Thoughts?

Been great watching this thread develop.

I'm a bit mystified by that - can someone explain that to me please?

How are bubbles & corrections "mathematically impossible" in Blockchain?

There is no maths involved, his words are just gibberish.  I assumed the whole statement could only have been intended as satire.  It is like when you read a trump tweet, the instinct is to argue with what he says, but surely the person controlling this account is just going to stand up and say "fooled you" in a couple of months.  Then I'd feel like a right nitwit for taking it seriously.

FWIW shorters/speculators don't cause crashes, the people who pay too much do.  

Ahh yes, looks like I get whooshed.

It can only have been satire, or sarcasm.

This is my take, blockchain and the valuation of Bitcoin are pretty much independent of each other.

When you assess share price in relation to a companies earnings (sometimes also referred to as PE ratios) you have some handle on whether the shares are good value. Of course, some companies are cheap for a reason.

With Bitcoin, due to its lack of transparency and decentralised nature, it is impossible to put a subjective valuation on how much one coin is worth. It really boils down to how much someone is prepared to pay. Over the thanksgiving weekend, well
over 200,000 new accounts were set up on coinbase. You can be sure that most of these people don't give a hoot really how much BTC costs.

Mcafee is an idiot, he should focus on producing software that doesn't compromise the performance of your PC before he comments about BTC.

Tomorrow, the first exchange offers BTC futures with several more to follow over the coming months. I have taken two small positions in BTC through an ETN offered by HL, the institutions are going to pump and dump this like there is no tomorrow. The big question is can I get out before the big boys have taken their profits .

Unless you have a serious appetite for risk, I wouldn't be buying in at £16-$18k.  

[rinswun]

Just purchased 1k ADA (Cardano). Strictly from a technology/security perspective, I think this is one of the best bets out there. Of course, in crypto fundamentals seem to matter for little but happy to take a small position as an alternative to Ethereum and BTC.

[TightEnd]

"We recognise Monopoly money, but when the game ends its ‘value’ evaporates — and that’s what I think will happen, sooner or later, to bitcoin"

https://blogs.spectator.co.uk/2017/12/cash-in-your-bitcoins-and-run/

[NEWY]

Me and a friend are considering buying a bitcoin as pure gamble.  We have no clue about technology (I still use Nokia phone as cant deal with smart phones), Can anyone recommend a safe method or company to facilitate the deal.  Is there a method where you can buy a coin 1 day then sell it as and when you want or is it not that simple?  Also does anyone have any thoughts on what other crypto currencies might be worth taking a punt on long term?  Any and all help/advice gratefully received.   TY