Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[Cavey007]

finally got bored of trying to get my bank account verified on coinbase to withdraw some GBP and sold some bitcoin on localbitcoins.com. Was a very easy process. Signed up, clicked on sell, picked a seller with 15,000 trades and 100% feedback, got money transferred into my bank account, released the coins to him. Took a whole 5 minutes. Excellent.

[rfgqqabc]

I think I am going to create a tulip ICO - must be in the valuation range of this:

[img width=600 height=415]https://pbs.twimg.com/media/DE-cuLQVoAAmE0M?format=jpg&name=large[/img

His twitter feed was incredible yesterday. BTC to 500k within 3 years, Jesse Slyvia and a few other poker players were talking about bets.

https://twitter.com/officialmcafee/status/887012614131372032

[EvilPie]

I think I am going to create a tulip ICO - must be in the valuation range of this:

[img width=600 height=415]https://pbs.twimg.com/media/DE-cuLQVoAAmE0M?format=jpg&name=large[/img

His twitter feed was incredible yesterday. BTC to 500k within 3 years, Jesse Slyvia and a few other poker players were talking about bets.

https://twitter.com/officialmcafee/status/887012614131372032

Unless they have some kind of pricing restructure that's got to be impossible. The value increasing to that level surely depends on it becoming mainstream and with that level of volatility it can't become mainstream.

I hope I'm wrong for the sake of the people who've bought some but it just can't be that easy.

[lucky_scrote]

I think I am going to create a tulip ICO - must be in the valuation range of this:

[img width=600 height=415]https://pbs.twimg.com/media/DE-cuLQVoAAmE0M?format=jpg&name=large[/img

His twitter feed was incredible yesterday. BTC to 500k within 3 years, Jesse Slyvia and a few other poker players were talking about bets.

https://twitter.com/officialmcafee/status/887012614131372032

Unless they have some kind of pricing restructure that's got to be impossible. The value increasing to that level surely depends on it becoming mainstream and with that level of volatility it can't become mainstream.

I hope I'm wrong for the sake of the people who've bought some but it just can't be that easy.

Not going to happen in 3 years, very unlikely to hit that number within 10 years but it's definitely possible.

I would eat my underwear if it hits 500k in 3 years.

[titaniumbean]

I think I am going to create a tulip ICO - must be in the valuation range of this:

[img width=600 height=415]https://pbs.twimg.com/media/DE-cuLQVoAAmE0M?format=jpg&name=large[/img

His twitter feed was incredible yesterday. BTC to 500k within 3 years, Jesse Slyvia and a few other poker players were talking about bets.

https://twitter.com/officialmcafee/status/887012614131372032

mcaffee is legit mentally insane   

[Doobs]

I think I am going to create a tulip ICO - must be in the valuation range of this:

[img width=600 height=415]https://pbs.twimg.com/media/DE-cuLQVoAAmE0M?format=jpg&name=large[/img

His twitter feed was incredible yesterday. BTC to 500k within 3 years, Jesse Slyvia and a few other poker players were talking about bets.

https://twitter.com/officialmcafee/status/887012614131372032

mcaffee is legit mentally insane   

He seems to have forgotten what his qualifications were or anything that he learned whilst studying them.  Zero chance you can predict price movements in any asset class with any accuracy using any method. 

You can model the distribution and get ranges, confidence levels etc.  Giiven the volatility, you are going to get massive ranges with any cryptocurrency, and no accuracy at all. 

Would also add a lot of mechanical systems fall apart in the real World.  You look at a few years data and think you have a useful model.  3 years later you start again.

1.01 I have spent more time on this than John McAfee.



 

[FUN4FRASER]

I think I am going to create a tulip ICO - must be in the valuation range of this:

[img width=600 height=415]https://pbs.twimg.com/media/DE-cuLQVoAAmE0M?format=jpg&name=large[/img

His twitter feed was incredible yesterday. BTC to 500k within 3 years, Jesse Slyvia and a few other poker players were talking about bets.

https://twitter.com/officialmcafee/status/887012614131372032

mcaffee is legit mentally insane   

Titty wins the thread

[rfgqqabc]

Seems like something you might say if you were having an ICO

[acegooner]

It's all going to end in tears with Crypto's. I have been doing loads of research on these investments over the last few months.

When the tech bubble burst, many shares lost over 90% of their value, the same will happen to Cryptos. Just like in the tech boom, we have ICO's coming out every week rocketing on the basis of hot air. It seems in this unregulated environment, pretty much anyone can get an ICO off the ground at the moment. Prices are being pumped from SM, youtube, facebook and twitter spawning a generation of "experts" who know nothing about investments, all they care about is ramping the price

The fact that the price of ETH shot up 50% in relief on news of BTCs planned fork just shows how insane this market is. Perpetuated by greed in my opinion. That famous Warren Buffet quote is more relevant to Cryptos than any other asset class right now, even Tech Stocks are not this overvalued.

ETH started the year at $8, it's currently $210. If you made your money by getting in at or near the bottom, good luck to you but personally I wouldn't touch cryptos with a bargepole at todays prices.

[Doobs]

Seems like something you might say if you were having an ICO

Why would someone who wanted to sell something destroy their credibility so spectacularly?

[lucky_scrote]

It's all going to end in tears with Crypto's. I have been doing loads of research on these investments over the last few months.

When the tech bubble burst, many shares lost over 90% of their value, the same will happen to Cryptos. Just like in the tech boom, we have ICO's coming out every week rocketing on the basis of hot air. It seems in this unregulated environment, pretty much anyone can get an ICO off the ground at the moment. Prices are being pumped from SM, youtube, facebook and twitter spawning a generation of "experts" who know nothing about investments, all they care about is ramping the price

The fact that the price of ETH shot up 50% in relief on news of BTCs planned fork just shows how insane this market is. Perpetuated by greed in my opinion. That famous Warren Buffet quote is more relevant to Cryptos than any other asset class right now, even Tech Stocks are not this overvalued.

ETH started the year at $8, it's currently $210. If you made your money by getting in at or near the bottom, good luck to you but personally I wouldn't touch cryptos with a bargepole at todays prices.

The masses of ICO's have certainly hurt the crypto economy along with the scamming that has been involved. Hopefully it stops people from throwing their money so relentlessly (greed).

[lucky_scrote]

It could definitely end in tears, yes. I am aware of that myself, the future is often unknown.

Each day that passes new businesses and services are trying to implement bitcoin, this is going to increase the value of it. It's not like it's been mainstream for 20 years, it's still a relatively new technology and the fact that a lot of people and businesses are trying to learn, own and implement crypto/bitcoin is making it more valuable.

One way you have to think about it is that there are a lot of nay-sayers with crypto. It's natural because there are a lot of negative things happening and a lot of it is not understood. On the other side of the coin you have people who don't have a clue about it and are greedy trying to just make a quick buck. Well, the truth is despite the increase in price of crypto over time, a lot of people haven't made money. People who are greedy are often very panicky and the amount of people trying to make short term trades unsuccessfully is staggering. Not to mention the people throwing unfathomable amounts of money at new coins without a contract involved or having a clue what is going on.

The greed, panic and nay-sayers is what is keeping the price where it is (low, imo of course). I don't expect prices to hit an all time high for a very long time and I think people who are smart and in it for the long run will reap the rewards.

[AndrewT]

We've heard a lot about the good aspects of cryptos, and how they can bring benefits to financial transactions, but who stands to lose out if cryptos go big - who would have a vested interest in them failing to go mainstream? Also, who would have enough power/influence to actively throw a spanner in the crypto works. I'm thinking governments/central banks/corporations etc.

[acegooner]

It could definitely end in tears, yes. I am aware of that myself, the future is often unknown.

Each day that passes new businesses and services are trying to implement bitcoin, this is going to increase the value of it. It's not like it's been mainstream for 20 years, it's still a relatively new technology and the fact that a lot of people and businesses are trying to learn, own and implement crypto/bitcoin is making it more valuable.

One way you have to think about it is that there are a lot of nay-sayers with crypto. It's natural because there are a lot of negative things happening and a lot of it is not understood. On the other side of the coin you have people who don't have a clue about it and are greedy trying to just make a quick buck. Well, the truth is despite the increase in price of crypto over time, a lot of people haven't made money. People who are greedy are often very panicky and the amount of people trying to make short term trades unsuccessfully is staggering. Not to mention the people throwing unfathomable amounts of money at new coins without a contract involved or having a clue what is going on.

The greed, panic and nay-sayers is what is keeping the price where it is (low, imo of course). I don't expect prices to hit an all time high for a very long time and I think people who are smart and in it for the long run will reap the rewards.

So I am going to sell you an apple today at 27x the price it was in January. Would you say that apple was good value? What has changed to ETH that makes it worth that much more today? How is it the market cap of ETH is the same or similar to that of Citi Corp, one of the biggest banks in the world.

Cryptos are ridiculously overvalued, it's nothing to do with the technology it's market sentiment. For many months off the back of a tide of ICOs followed by new investors seeing cryptos as a get rick quick scheme, the price of every coin has exponentially rallied. This is 97-99 all over again. In history every asset class that has got ahead of itself has come crashing back to earth with a bump.

The fact that cryptos are now mainstream (regularly featured on Bloomberg TV) and the man in the street is starting to take interest should worry anyone that invests in this space. As I mentioned previously George Soros and his cronies have been shorting cryptos recently. You can't fight the institutions remember the UK government tried in 1992 and failed, so what chance has anyone else.

  

[Woodsey]

http://www.bbc.co.uk/news/technology-40654194