said it before...only after you embrace the scam will you be able to profit from it
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Still have .75 bitcoin/30 litecoins/3 ethereum. I took my money out plus couple grand so it they go to zero still not bothered. If litecoin goes to 50 I may buy 50 more.Comment -
I can't speak for Chico but I hold a few thousand ltc because I actually move it around quite a bit. Anytime I go between exchanges, I send LTC. I also have a small group of guys here in Seattle that accept ltc as payment so I keep a bunch on hand, it's just cheap to send and quick to clear. Beyond that, the price seemed pretty stable for a while which was nice. Plus I like Charlie Lee
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Bitcoin has no use in society
One of big killersComment -
nobody knows what they are doing
It is Russian RouletteComment -
Well Ripple is backed by banks and NWO. You are esentially bidding for them to control that part of the market which most likely will happen eventually.Comment -
I understand what you are saying, but I don't really think you can compare any commodity like Oil/Gold to Crypts. Yeah, oil used to be 160 a barrel. Gold was high too. But a crypt is currency. If a currency is strong, it will hold it's value forever or gain in value (i.e. buying power). Think how strong the USD and Euros are, vs all other currencies. Do you really think your US dollars will eventually be worthless? I don't. So an established Crypt (which I think of as Bitcoin), is likely going to retain and gain in value over time. Some of these other crypts - they could be like the Mexican Peso, or even worse like Nigerian Dollars. Some are going to eventually be shown as worthless. I wouldn't invest in them, but established Crypt Currency I think is a worthwhile investment.
I don't want to sound cocky because I don't know what's going to happen. But it's not like I have a huge amount invested either. I have maybe 20% of my overall investing portfolio in crypts. The rest is in the US Stock Market. So if 20% of my investments went completely under, I'm prepared to take that risk, because the upside to me is worth it.
I am also not a trader. I'm not trying to buy in, wait for a 10 cent move, and then sell. I'm buying and holding. To me, its better than sitting in a bank earning little interest. And if I lose, well no investment is 100% for sure winners. Just don't ever invest more than you can afford to lose. Same as gambling. .
Someone talked early about marriages falling apart because of this, and I bet some guys are probably losing their asses by being overly aggressive. Investing their kids college funds, or utility bills, or what not in this. That's not me though. I probably won't ever sell my Crypts (and i have BTC, Ripple, Litecoin) unless I absolutely needed that money, or it got so high that I felt like I had won enough. And if what I'm holding eventually is worthless, well that's the risk you take. I'm still going to be able to make my mortgage payments, car payments, etc. I'd just have less in savings. Oh well.Comment -
Most cryptocurrencies are likely to fail with their value falling to zero, Goldman Sachs said in a note, comparing the current market to the "internet bubble of the late 1990s."
Steve Strongin, head of Goldman Sachs global investment research, said in a note dated Monday, that cryptocurrencies don't have "intrinsic value" adding that it's "unlikely" whether any of today's digital currencies are likely to survive in the long run.
"People seem to be trading cryptocurrencies as though they're all going to survive, or at least maintain their value. The high correlation between the different cryptocurrencies worries me. Contrary to what one would expect in a rational market, new currencies don't seem to reduce the value of old currencies; they all seem to move as a single asset class," Strongin said.
"But if you believe this is a 'few-winners take-most' situation, then the potential for retirement depreciation should be taken into account. And because of the lack of intrinsic value, the currencies that don't survive will most likely trade to zero."
The Goldman research note comes after a violent sell-off in the cryptocurrency market over the past few days, which at its lowest point on Tuesday, saw over $550 billion of value wiped off the market. Bitcoin even dipped below $6,000 for the first time since November.
Strongin calls the current period of cryptocurrencies an experiment and compared it to the internet bubble of the late 1990s. He said that very few companies that existed then went on to become even more valuable. Both Googleand Amazon did but in a "completely different form," he added.
"So, are any of today's cryptocurrencies going to be an Amazon or a Google, or will they end up like many of the now-defunct search engines? Just because we are in a speculative bubble does not mean current prices can't increase for a handful of survivors," Strongin said.
"At the same time, it probably does mean that most, if not all, will never see their recent peaks again."
Goldman's head of investment research said that the underlying technology behind cryptocurrencies called blockchain, "clearly has a role" in improving the ledgers underlying financial transactions.
Goldman has previously poured cold water on cryptocurrencies as an investment. In October, the investment bank released a note saying that bitcoin is not the new gold.
Other commentators have also cautioned on cryptocurrencies. Noted economist Nouriel Roubini, also known as "Dr Doom," said Tuesday that he thinks the price of bitcoin would crash to zero. And legendary investor Warren Buffett told CNBC in a recent interview that cryptocurrencies will "come to a bad ending."
Cryptocurrencies rebounded on Wednesday though many were still off their all-time highs. Still, experts told CNBC that the cryptocurrency market as a whole could hit $1 trillion this year.
https://www.cnbc.com/2018/02/07/most...achs-says.htmlComment -
Golden Sachs LOL. Maybe they should try to figure out banking before diving into crypto. ClownsComment -
Bitcoin decent climb yesterday from approx $6500 to over $8,000 today.
Let's see if it continues.Comment
