incognito_man Posted December 1, 2017 Share Posted December 1, 2017 33 minutes ago, ramssuperbowl99 said: This is the first I've ever heard of this. My understanding of blockchain technology is that there are equations which get exponentially more complicated, but there is never a hard cap. Yep, Bitcoin is hard-capped. Others (ethereum) are not. But Bitcoin and Ethereum (as an example) serve very different functions. Though both (technically 'ether') are 'cryptocurenncies' that's about where their similarities end. Quote Link to comment Share on other sites More sharing options...
incognito_man Posted December 1, 2017 Share Posted December 1, 2017 @jrry32 For a more informed read, I'd suggest this piece by an authority on economics who has demonstrated a working knowledge of the technology: https://www.coindesk.com/professor-susan-athey-people-use-bitcoin-intrinsic-value/ Quote Link to comment Share on other sites More sharing options...
jrry32 Posted December 1, 2017 Share Posted December 1, 2017 13 minutes ago, incognito_man said: @jrry32 For a more informed read, I'd suggest this piece by an authority on economics who has demonstrated a working knowledge of the technology: https://www.coindesk.com/professor-susan-athey-people-use-bitcoin-intrinsic-value/ She's expressing an optimistic opinion on Bitcoin? She's clearly unqualified. Quote Link to comment Share on other sites More sharing options...
incognito_man Posted December 1, 2017 Share Posted December 1, 2017 3 minutes ago, jrry32 said: She's expressing an optimistic opinion on Bitcoin? She's clearly unqualified. lol she expressed an educated opinion on bitcoin and has the credentials to back it up. It's probably not difficult to find an educated, negative opinion on Bitcoin from someone with serious credentials, but Stiglitz is not one... Quote Link to comment Share on other sites More sharing options...
Mossburg Posted December 1, 2017 Share Posted December 1, 2017 jrry, do you think if we looked hard we can find really smart people saying lulzy shiz because they misread a world changing technology or event? What's the saying, an economist is someone who tomorrow will explain to you why what he said yesterday is wrong today? It's really not a big deal, nobody is really a well established authority on this. There's a ton of savvy finance people who have strong opinions that are all over the place. Quote Link to comment Share on other sites More sharing options...
jrry32 Posted December 1, 2017 Share Posted December 1, 2017 2 minutes ago, Mossburg said: jrry, do you think if we looked hard we can find really smart people saying lulzy shiz because they misread a world changing technology or event? What's the saying, an economist is someone who tomorrow will explain to you why what he said yesterday is wrong today? It's really not a big deal, nobody is really a well established authority on this. There's a ton of savvy finance people who have strong opinions that are all over the place. Absolutely. I don't even agree with everything the guy said. What I do agree with his take on Bitcoin as an investment because it addresses some of the concerns I had. It looks like a speculative bubble. Quote Link to comment Share on other sites More sharing options...
wackywabbit Posted December 1, 2017 Share Posted December 1, 2017 23 hours ago, Mossburg said: Everyone who comes in here asking if they should throw some bucks at this bitcoin thing should read this before they proceed. https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/ Some reasonable advice there, but his first point is something that someone who doesn't get investing would say: "Buying near the ATH is very risky, and while it can be correct/profitable, it puts you on the wrong footing. You need to buy low and sell high to make money." Buying at an all-time high means nothing. The current price of an asset represents the market's valuation of it including risk and expectation of growth. Stocks like Apple and Amazon have hit all-time high pretty regularly throughout their growth. Look at the price graphs and most of the data points are very close to all-time highs throughout their history. The second and more flagrant issue is concept and buying low and selling high. That's basically impossible to do, without (illegal) insider knowledge. If any human could state with even 51% accuracy what is a high and what is a low, they would be billionaires in a month. Quote Link to comment Share on other sites More sharing options...
Mossburg Posted December 1, 2017 Share Posted December 1, 2017 (edited) Yes, that's good to clarify but my interpretation of that is more to make the potential buyer (who in this case is an absolute noob to investing into anything, much less a cryptocurrency) realize that they are getting involved at an all time high, which I think by default is more riskier even though by itself means nothing since if you were buying at the new all time high every day you'd be making a killing. He clarifies that isn't investment advice and it serves more to attempt to snap the person out of an emotional decision. Edited December 1, 2017 by Mossburg Quote Link to comment Share on other sites More sharing options...
wackywabbit Posted December 1, 2017 Share Posted December 1, 2017 31 minutes ago, Mossburg said: Yes, that's good to clarify but my interpretation of that is more to make the potential buyer (who in this case is an absolute noob to investing into anything, much less a cryptocurrency) realize that they are getting involved at an all time high, which I think by default is more riskier even though by itself means nothing since if you were buying at the new all time high every day you'd be making a killing. At the risk of being pedantic, it's not. It's not inherently more riskier or less riskier. Being at an all-time high doesn't on it's own imply overvaluation or undervaluation. Quote Link to comment Share on other sites More sharing options...
Mossburg Posted December 1, 2017 Share Posted December 1, 2017 4 minutes ago, wackywabbit said: At the risk of being pedantic, it's not. It's not inherently more riskier or less riskier. Being at an all-time high doesn't on it's own imply overvaluation or undervaluation. Yea, I should have worded it differently. I personally feel more nervous when I consider anything that is at an all time high, especially when there are bubble talks with crazy volatility. Quote Link to comment Share on other sites More sharing options...
NS922 Posted December 2, 2017 Share Posted December 2, 2017 (edited) What about other cryptocurrencies like Ethereum? edit: I didn't read through the read until now, it was discussed already. I'm thinking about investing in a few different currencies, but not Bitcoin (yet). Bitcoin is too expensive now. I want to get in on some Ethereum, and then put some dollars into something smaller like Ripple. I have money to set aside, I don't care if it doesn't work. There's too much potential right now to not try it out. Edited December 2, 2017 by NS922 Quote Link to comment Share on other sites More sharing options...
Knowledge Posted December 2, 2017 Share Posted December 2, 2017 I think im going to start day trading Bitcoin. Theres a lot of money to be made. It seems to flucatuate about $1200 a day and sometimes thats multiple times a day. Buy in low. Sell high. Rinse repeat. I dont see why I cant make a easy $500-$1000 a day doing this Quote Link to comment Share on other sites More sharing options...
incognito_man Posted December 2, 2017 Share Posted December 2, 2017 4 minutes ago, Knowledge said: I think im going to start day trading Bitcoin. Theres a lot of money to be made. It seems to flucatuate about $1200 a day and sometimes thats multiple times a day. Buy in low. Sell high. Rinse repeat. I dont see why I cant make a easy $500-$1000 a day doing this Please post the moment you buy and sell so we can all participate in your glory! Quote Link to comment Share on other sites More sharing options...
Knowledge Posted December 2, 2017 Share Posted December 2, 2017 3 minutes ago, incognito_man said: Please post the moment you buy and sell so we can all participate in your glory! Will do. Think Im going to test the waters low with maybe a $1000 buy when it drops below 10k again. Question for you. I just recently got my bank account linked to coinbase/gdax. Before I was using debit card and when I would buy I would receive the coins immediately. Do you know if its the same with bank account? Or will there be a couple day delay? Quote Link to comment Share on other sites More sharing options...
BayRaider Posted December 2, 2017 Author Share Posted December 2, 2017 1 minute ago, Knowledge said: Will do. Think Im going to test the waters low with maybe a $1000 buy when it drops below 10k again. Question for you. I just recently got my bank account linked to coinbase/gdax. Before I was using debit card and when I would buy I would receive the coins immediately. Do you know if its the same with bank account? Or will there be a couple day delay? Bank Account took me like 7 days. Card is the way to go. Careful with trading. Anything can happen. Quote Link to comment Share on other sites More sharing options...
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