cddolphin Posted February 5, 2018 Share Posted February 5, 2018 On 11/29/2017 at 11:39 PM, jrry32 said: What gives Bitcoin its value? A Bitcoin has no intrinsic worth. There's nothing tangible to it. Its value is solely derived from what people think it's worth. So exactly like the USD? 1 Quote Link to comment Share on other sites More sharing options...
tima Posted February 5, 2018 Share Posted February 5, 2018 I've been looking at the slide and buying every time I think it is at the bottom, and I was completely wrong every time. Trying to catch the bottom is a tricky thing. Quote Link to comment Share on other sites More sharing options...
Mossburg Posted February 5, 2018 Share Posted February 5, 2018 24 minutes ago, cddolphin said: I'm tempted to at least grab some Ripple. If Bitcoin drops below 5k by the end of the week... What's with this drop? What are people anticipating? Or is it just people cashing out after their Christmas credit card bills come due. Credit card companies are blocking bitcoin purchases and the market is reacting. Quote Link to comment Share on other sites More sharing options...
Mossburg Posted February 5, 2018 Share Posted February 5, 2018 23 minutes ago, tima said: I've been looking at the slide and buying every time I think it is at the bottom, and I was completely wrong every time. Trying to catch the bottom is a tricky thing. It's not tricky, it's dumb. You don't catch the bottom, you evaluate where you think it will be in the future and you either buy or sell. If you can't or aren't confident or aren't willing to straight up gamble, then don't buy any. Quote Link to comment Share on other sites More sharing options...
cddolphin Posted February 5, 2018 Share Posted February 5, 2018 1 minute ago, Mossburg said: Credit card companies are blocking bitcoin purchases and the market is reacting. I'm a bit surprised they allowed that in the first place, to be honest. Quote Link to comment Share on other sites More sharing options...
Mossburg Posted February 5, 2018 Share Posted February 5, 2018 Just now, cddolphin said: I'm a bit surprised they allowed that in the first place, to be honest. I wonder if there have been large fraud spikes, or they're doing it in anticipation of them happening. Quote Link to comment Share on other sites More sharing options...
BayRaider Posted February 5, 2018 Author Share Posted February 5, 2018 (edited) 11 minutes ago, Mossburg said: Credit card companies are blocking bitcoin purchases and the market is reacting. Banks are scared of crypto and see it as the one threat to their business. They wont be able to make a ridiculous of amount of interest and screw over the customer giving them almost nothing. Banks in 21st century are the most corrupted industry perhaps in the history of our planet. Not even an over statement. So yeah.. Chase and BoA banned crypto on their CC's. You can gamble in casinos with CCs... Edited February 5, 2018 by BayRaider Quote Link to comment Share on other sites More sharing options...
Mossburg Posted February 5, 2018 Share Posted February 5, 2018 Just now, BayRaider said: Banks are scared of crypto and see it as the one threat to business. They wont be able to make a ridiculous of amount of interest and screw over the customer giving them almost nothing. Banks in 21st century are the most corrupted industry perhaps in the history of our planet. Not even an over statement. It's easy for identity thieves to convert credit into another commodity that can easily be converted into cash, and possibly many people are being irresponsible and are doubling down on their losses. I don't disagree that there are some dinosaurs who are afraid of change, but I doubt it's some sort of dubious joint decision among all the financial institutions to make this change. Quote Link to comment Share on other sites More sharing options...
tima Posted February 5, 2018 Share Posted February 5, 2018 11 minutes ago, Mossburg said: It's not tricky, it's dumb. You don't catch the bottom, you evaluate where you think it will be in the future and you either buy or sell. If you can't or aren't confident or aren't willing to straight up gamble, then don't buy any. I'm confident in the coins I have and want to buy more of them. I don't think it is dumb to try to get them at the lowest price. I'm going to buy them anyway so might as well Quote Link to comment Share on other sites More sharing options...
Mossburg Posted February 5, 2018 Share Posted February 5, 2018 Just now, tima said: I'm confident in the coins I have and want to buy more of them. I don't think it is dumb to try to get them at the lowest price. I'm going to buy them anyway so might as well It's dumb to think you can predict where the bottom is is what I was saying. Nobody knows. If you think they're going back up just buy and keep buying if it keeps going down with whatever you're willing to gamble. 1 Quote Link to comment Share on other sites More sharing options...
BayRaider Posted February 5, 2018 Author Share Posted February 5, 2018 (edited) 12 minutes ago, Mossburg said: It's easy for identity thieves to convert credit into another commodity that can easily be converted into cash, and possibly many people are being irresponsible and are doubling down on their losses. I don't disagree that there are some dinosaurs who are afraid of change, but I doubt it's some sort of dubious joint decision among all the financial institutions to make this change. That wasn't the argument made. The argument made by Chase is people are investing large amounts with not enough informed knowledge on a very up and down market. That's ridiculous. People should be able to make any investment they like. The knowledge and risk is up to THEM. If you're gonna ban CC's then ban them in casinos too where people are freely allowed to put 10k on their cards. This is straight up gambling and not investing either. Way worse than crypto. Edited February 5, 2018 by BayRaider Quote Link to comment Share on other sites More sharing options...
Mossburg Posted February 5, 2018 Share Posted February 5, 2018 Just now, BayRaider said: That wasn't the argument made. The argument made by Chase is people are investing large amounts with not enough informed knowledge on a very up and down market. That's ridiculous. People should be able to make any investment they like. If you're gonna ban CC's them ban them in casinos too where people are freely allowed to put 10k on their cards. This is straight up and gambling and not investing either. Way worse than crypto. Casino's aren't legal in most of the country, not as easy to gamble. I think there's truth to what you're saying though, Dimon is one of the dinosaurs afraid of innovation. Quote Link to comment Share on other sites More sharing options...
BayRaider Posted February 5, 2018 Author Share Posted February 5, 2018 2 minutes ago, Mossburg said: Casino's aren't legal in most of the country, not as easy to gamble. I think there's truth to what you're saying though, Dimon is one of the dinosaurs afraid of innovation. What are you talking about? Almost every state has an indian casino one hour in every direction. Quote Link to comment Share on other sites More sharing options...
mistakey Posted February 5, 2018 Share Posted February 5, 2018 59 minutes ago, cddolphin said: So exactly like the USD? except for the USD is the reserve currency of the world and if the USD crashed, thered be a nuclear stockpile in the hands of chaos. the world would come together and bring the dolalr back to life just like they did for russia after the collapse of the cold war. Quote Link to comment Share on other sites More sharing options...
mistakey Posted February 5, 2018 Share Posted February 5, 2018 34 minutes ago, Mossburg said: Credit card companies are blocking bitcoin purchases and the market is reacting. yeah, and or bitcoin is going the way of the rest of the risky assets- as the DJIA dropped ~1100 points in 2 days. Quote Link to comment Share on other sites More sharing options...
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