General Anyone follow cryptocurrencies (bit coin, ethereum, etc.) ?
- Thread starter Splinty
- Start date
Glad I held out. Too many talking heads overinflating the value. Still can't do much in the real world with bitcoin.
It's one IRS statement away from being worth next to zero.
It's one IRS statement away from being worth next to zero.
Yikes. Down another $1k since my last post.
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some hard hitting stuff here Q&A: How Is the Growth of Bitcoin Affecting the Environment?
Currently It's doing more harm than good. Lots and lots of scams and no regulatory body. This may dissuade people from crypt in the future so unless a big trusted someone gets into regulating it somehow It's always going to be rife with fraudsters and people getting burned.
There are more pump & dump scams for penny stocks & have been for as long as I can tell, regulators haven't stopped it & it hasn't dissuaded people from getting duped
I'm not talking about pump and dump. That's Just part of the risk with not blue chips that wealthy people will artificially inflate.
Crypt currency has more devious fraud than that. I'm talking about all the scam coins that didn't even have a block chain and e coin.
these scam coins.. are they created & then hyped up to get people buying them & the demand & price increased, then dumped by the people in the know?
It's worse. Fake companies hype up a coin they say is just like bitcoin but there is no ledger, no coin, nowhere to trade them but they are sold on the hype of these crypt currencies to people who don't understand what crypt currencies are as crypts aren't currently used as money and there's no one regulating the industry. There is no authority or body to say this coin is legit and that coin is Fake and That's why fake coins are rife and can go on for years and no one shut them down.
got news for you, that's not a new scam
I didn't say it was new I said It (cryto currency) has created more problems than has done good
I was a financial advicer and now am FX Trader with a small consultancy on the side. I only advice wealthy peeps to jump on da crypto bandwagon.Purchased $1000 of Ethereum a week ago (around $70/ETH). It's been a good week.
$500 bucks gained in 7 days.
This is of course missing the big surge from less than $10/ETH earlier this year.
The new bump will gain some more and this will probably shoot up to $500 or more before the year is out.
This is all bubble due to speculation right now. It'll be highly volatile and is just mirroring the same thing that happened with bitcoin (BTC) from 2010-2014. But faster.
Final price to be determined, but after some coming speculation and volatility, it will settle at something pretty high. Maybe a couple hundred bucks I would guess.
ETH is making two big moves 1> increased acceptance in the American tech industry for contracts 2> moves to minimize inflation and stabilize prices by lowering mining pay (google bitcoin mining). This will keep prices high after a period of speculation this year while people try to get in on the next bitcoin surge.
Buy ETH if you see it crash below $100. Its going to at some point before stabilizing. It may bounce down to $50-60 again in the near term which would be prime to get in more.
Unexpectedly, Ripple exploded this week:
Ripple passed ETH in market cap, but that is based on pure speculation on some Asian markets and industry adoption. I am not trying to follow that as I can't keep up with nuance and coming market signals with the Asian focus. It'll crash and then settle to where the Asian market supports, but its gonna be a good one if you can follow the Asian business markets.
There's some industry moves of trying to stabilize Ripple in payment systems, but it still seems too much too fast. Billions gained in a day?
1. Pay your mortgage
2. Educate ya self on FX trading
3. Tip of the day from an ex-Saxo Bank (Copenhagen) trader...
When the gold goes up sell Swiss francs
When the gold goes down buy Swiss francs
I have being doing this for years hence the reason am wealthier than
@SCADA
Well, that’s not entirely true. I make most of my money on Inside trading hence am still working for banks. When they hedge a position i tell my guys to the same and when they place a huge trade I tell my boys to do the same.
The difference is that the banks have huge notional amounts and i don’t have that level of money yet and unlikely I will ever will.
The difference is that the banks have huge notional amounts and i don’t have that level of money yet and unlikely I will ever will.
This is one of the many reason @conor mcgregor nut hugger makes me
Lol when he goes after me.
Lol when he goes after me.
M
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Fucking hell m8 go beg someone else for attention
@silentsinger doesn't makes me lol tho.lil he know that I actually advise some very senior peeps on SD that he claims to be good buds with about FX.
Money talks, mate!
Keep making me famous
Fuck me, just piss off.
lil he know that I actually advise some very senior peeps on SD that he claims to be good buds with about FX.
Money talks, mate!