crypto | Vital Football

crypto

freundorfoe

Vital 1st Team Regular
Anyone invested?

Do people think the amazing growth of bitcoin is sustainable?

Any other coins they think could go the same way that are at an earlier stage of exposure?

Got a few techy friends who have done extremely well off bitcoin by being in early, and know a few people who got in more recently who are riding the wave but they're not seasoned investors - some aren't spreading their risk so playing a very high stakes game.


Intrigued to know thoughts from some on here, particularly from more experienced investors.
 
Mostly retail investors according to Bloomberg's currency guru. Which indicates a lack of future stability until the institutional money comes in.
 
It's one of my regrets, not buying a few back in 2010 when I first heard about it, but I can't say I had any idea it would ever get big.

When you think about it, it's no different from normal currency. It's all a big confidence scam at this point, whether you own Dollars, Sterling or Bitcoin. They used to all be tied up in gold or oil values, but now they have no inherent value beyond the faith people have in them. I find it quite funny when you see all these articles by Bankers, warning people about Bitcoin because it's not based on anything.
 
I've been in and out a dozen times.

I'm currently out and sitting by the sidelines; I still believe that it will fail and fail big, knowing when to go short will be the big question for me.

Bottom line is that usage is limited, although of course the availability is limited and of course that for some places it looks more stable than the local currency!

I honestly thought China had delivered a death blow when they forced the exchanges to close, but (so far) they've left the miners alone.

It is a retail punt, and some gains have been massive, but some of the exchanges are slow, glitchy and not so quick to execute when you want to sell. I suspect hard currency liquidity may still be an issue.

By all means play, I've been using blockchain technology for years and it will transform Fintech for good - but the cryto currencies are bubbles, doesn't matter which way you assess them, they are bubbles - they produce and create nothing.

Bubbles always end the same way, it's just a case of when for me - when it starts, just short it,m as retail will still keep buying and they'll be the ones left holding the empty sacks.!
 
Plenty O'Tool - 15/12/2017 18:21

Casino-Capitalism at its finest.

not as pretty as tulips tho'.

Pretty much. Although it is highly likely that some form of crypto currency will emerge as a viable trade tool.
 
have some friends who have done very very well since my initial post. If/when the bubble bursts they'll be fine as they've withdrawn their initial investments but know a lot of other people who are going in for it now and might not be so lucky.

I've dipped a toe on some altcoins and ethereum, up about 50% on my initial investment.
 
There is an interesting train of thought that as governments inflict anti-money laundering measures and it negatively impacts the ability to transact normal business.....which it does now......that businesses will adopt easier methods. ie cryptocurrencies.

The global real estate market is seeing more and more transactions in bitcoin.
 
Also, there is a train of thought that suggests bitcoin will replace gold as a store of wealth.
 
Arsenal have just signed a deal with an about to launch betting cryptocurrency (ICO).

Crypto is the Wild West, I was slightly surprised to see the article but then we did a binary trading partnership a couple years back and that world is full of scammers.