Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[AndrewT]

As it goes through $11k I notice the market cap of BTC is $185bn and there's $9bn of it traded in past 24 hours, or about 5% of the total.

How does that ratio compare to other traded things (shares/gold etc).

[TightEnd]

As it goes through $11k I notice the market cap of BTC is $185bn and there's $9bn of it traded in past 24 hours, or about 5% of the total.

How does that ratio compare to other traded things (shares/gold etc).

ref shares. 5% would be enormous. re physical commodities eg oil,gold,metals..more commonplace but thats due to hedging of the physical against futures or vice versa

obviously this is a bubble (have no dog in the fight here,just 15 years experience of seeing them and living them good and bad professionally) and a correction here would be very healthy

my main concern here would be what exactly is manipulating the price (do we know?) and lack of regulation

Be careful.

[doubleup]

But when does a bubble peak?  In the old days it would be when the shoeshine boy said he was in to bitcoin - who are today's shoeshine boys?

[POWWWWWWWW]

But when does a bubble peak?  In the old days it would be when the shoeshine boy said he was in to bitcoin - who are today's shoeshine boys?

Click to see full-size image.

Saw this in Vienna last week. Seems pretty peaky.

[Whollyflush]

i bought BTC at the end of last year and I'm starting to get twitchy

[nirvana]

i bought BTC at the end of last year and I'm starting to get twitchy

Really tough position. On balance I've always regretted not locking in exceptional returns when I could more than missing out selling at the peak. Course if btc goes to half a mill....you might throw up

[DaveShoelace]

Everyone who has Crypto - what is your exit strategy if any? Anything that would make you cash out tomorrow?

[AndrewT]

Everyone who has Crypto - what is your exit strategy if any? Anything that would make you cash out tomorrow?

Tikay tipping it.

[Jon MW]

As it goes through $11k I notice the market cap of BTC is $185bn and there's $9bn of it traded in past 24 hours, or about 5% of the total.

How does that ratio compare to other traded things (shares/gold etc).

ref shares. 5% would be enormous. re physical commodities eg oil,gold,metals..more commonplace but thats due to hedging of the physical against futures or vice versa

obviously this is a bubble (have no dog in the fight here,just 15 years experience of seeing them and living them good and bad professionally) and a correction here would be very healthy

my main concern here would be what exactly is manipulating the price (do we know?) and lack of regulation

Be careful.

I don't think I've ever seen anything look more bubble-y but isn't it just the extra publicity and subsequent spam generated that's inflating it rather than coordinated manipulation? Or do you think that wouldn't be enough by itself?

[typhoon13]

From nowhere Ether pops up 10%

Must remember "Nobody rings a bell when it gets to the top"

[tikay]

Everyone who has Crypto - what is your exit strategy if any? Anything that would make you cash out tomorrow?

Tikay tipping it.

Be it on your own head Andrew.

[TightEnd]

As it goes through $11k I notice the market cap of BTC is $185bn and there's $9bn of it traded in past 24 hours, or about 5% of the total.

How does that ratio compare to other traded things (shares/gold etc).

ref shares. 5% would be enormous. re physical commodities eg oil,gold,metals..more commonplace but thats due to hedging of the physical against futures or vice versa

obviously this is a bubble (have no dog in the fight here,just 15 years experience of seeing them and living them good and bad professionally) and a correction here would be very healthy

my main concern here would be what exactly is manipulating the price (do we know?) and lack of regulation

Be careful.

I don't think I've ever seen anything look more bubble-y but isn't it just the extra publicity and subsequent spam generated that's inflating it rather than coordinated manipulation? Or do you think that wouldn't be enough by itself?

not enough by itself

I saw something yesterday

A jobbing pro poker playing posited a question to Dug Plk

"have $40k and want to top up my BTC today,which coin would you buy?"

I mean come on,is this much different from the old penny trading sheds at the peak of the tech bubble 1999-2001? its not.the asset management equivalent of the wild west

and the fundamentals could well be fantastic.thats not the point

[tikay]

A slight diversion now, by way of context.

Anyone remember a guy named Mark Strahan, used to post on THM Forum as "Mark S"?





He was, shall we say, a bit of a character, & got more wrong - a lot more wrong - than he got right. Famously, he wrote a book - "How to Win at Poker", which sold for $5.





But a stopped watch & all that.....

Here's a thread he started about Bitcoin back in 2013, from THM Forum, which I happened across a few days ago;


http://www.thehendonmob.com/forum/viewtopic.php?t=46031


When you read these things 4 years after, some of the replies are mildly interesting.....

[DaveShoelace]

A slight diversion now, by way of context.

Anyone remember a guy named Mark Strahan, used to post on THM Forum as "Mark S"?





He was, shall we say, a bit of a character, & got more wrong - a lot more wrong - than he got right. Famously, he wrote a book - "How to Win at Poker", which sold for $5.





But a stopped watch & all that.....

Here's a thread he started about Bitcoin back in 2013, from THM Forum, which I happened across a few days ago;


http://www.thehendonmob.com/forum/viewtopic.php?t=46031


When you read these things 4 years after, some of the replies are mildly interesting.....

Holy crap now that is a blast from the past. An old colleague of mine from PokerNews used to call him (in a satire on Neil 'Bad Beat' Channing) - Mark 'Bad Book' Strahan.

[tikay]

^^^^^

Pretty sure Mark used to run an alternative poker news site to Pokernews with a disingenuous title - PokerNewsUK or somesuch.

He took a lot of stick - & I do mean a lot - over that book.