Bitcoin is a false truth, warns analyst

[JerryMungo]

Is there a way to short Bitcoin?

Yes. 1Broker allows it.

 

[JerryMungo]

R100 million in profit for his clients through the deal.

Lol... and he could have made over R670 million with R140k investment in BTC 2010.

Predicting African Bank's demise... hmm... with some inside info that wouldn't have been too hard.

 

[ConfusedR]

these are analysts that haven't jumped on the ship yet............and now they feel sorry for themselves

 

[chrisc]

It is most definitely overheated right now. I'm not complaining. My Bitcoins I bought last year are now worth 11 times what I paid in Rand terms. I swopped some for Rands yesterday. Of course in the meantime, it went up another 2%

 

[biometrics]

http://www.businessinsider.com/bitcoin-price-john-mcafee-not-a-bubble-2017-8

Hey don't get me wrong I'm no expert. Just looking at both views and wondering.

Are you taking advice from this guy?

[video=youtube;bKgf5PaBzyg]https://www.youtube.com/watch?v=bKgf5PaBzyg[/video]

 

[The_Ogre]

Is there a way to short Bitcoin?

cex.io

Trade -> Margin Trading

 

[saturnz]

Cellphones are a false truth, we already have landlines and pay phones
The internet is a fad, we already have encyclopedias
Email, pfft, we have post office and fax machines

myspace was once huge
nokia was once huge

 

[Thor]

Bitcoin is a false truth, warns analyst

Jean Pierre Verster, portfolio manager at Fairtree Capital, has warned that Bitcoin is in bubble territory and he will not invest in the cryptocurrency.

Is he looking for a job at Citadel?

 

[Thor]

myspace was once huge
nokia was once huge

Now that I can agree with.

Myspace was the first irritation and then facebook came along.

Google etc

Bitcoin was first. It will be replaced. my bet is on IOTA.

BUT what we must remember is unlike myspace, bitcoin can change. Ethereum has smart contracts, there is ZERO reason why bitcoin cannot have it. They fork and boom bitcoin has smart contracts etc etc.

 

[Ockie]

Is he looking for a job at Citadel?

No Hodl today?

 

[saturnz]

Bitcoin was first. It will be replaced. my bet is on IOTA.

in the same way facebook is not currency, so bitcoin is not currency if it can simply be replaced, and that principle sort of applies to crypto currency in general at the moment

 

[Temujin]

myspace was once huge
nokia was once huge

Indeed, but cellphones and social media exist today, different improved versions. Like I've said several times on mybb, its not the coin that makes it valuable, its the tech, the blockchain tech. Neo, lbry, steem, sia, to name a few, all have there roles to play.

 

[saturnz]

Indeed, but cellphones and social media exist today, different improved versions. Like I've said several times on mybb, its not the coin that makes it valuable, its the tech, the blockchain tech. Neo, lbry, steem, sia, to name a few, all have there roles to play.

here cypto currency is the cellphone, and nokia is bitcoin

I didn't think that needed clarification

 

[JerryMungo]

I'm not so sure BTC will be replaced as such - with limited supply, it may just remain the stable backbone of cryptocurrency. Transactions take long - so what, long by CC standards, not by banking standards - that's what makes it more stable. You can't rock the boat very quickly for profit with BTC.

 

[Temujin]

here cypto currency is the cellphone, and nokia is bitcoin

I didn't think that needed clarification

I see it as blockchain is the cellphone, nokia the cryptocurrency(btc just being one of the cellphone brands)

 

[The_Ogre]

Easy, now try a crypto where you can't trace any transactions.

Please explain how you'd link a person to a transaction

 

[saturnz]

I see it as blockchain is the cellphone, nokia the cryptocurrency(btc just being one of the cellphone brands)

well if you are going to see my analogy in your own terms then obviously we are going to speak past each other

 

[backstreetboy]

Im glad I bought a lot of coins back when it was a hundred rand or so each.

/goes off to make a huge Bitcoin bling necklace.

How many?

 

[Swa]

It will eventually burst. If you, as an "investor" don't see that and plan for it, you are an idiot.

Exactly. There's nothing wrong in taking advantage of bubbles but only fools fail to recognise the signs of them. I think it partly has to do with people getting fed up with all the restrictions over the years so they're not able to think clearly.

 

[Swa]

https://medium.com/@felixsalmon/the-bitcoin-bubble-and-the-future-of-currency-2b5ef79482cb

The above are the opening paragraphs of an article about the Bitcoin price bubble. It's from Apr 3, 2013.

Point is: Bitcoin's been accused of being in a bubble each time the price goes up and when the price drops because of profit taking, the analyst look smug and say "I told you so".
And then Bitcoin gets back up and rises to new records at which time the cycle repeats.

Even so, I still won't suggest moving your retirement savings into it.

None of that means it's not a bubble and we regularly see that behaviour with stock market bubbles but at the end of the day they are still bubbles. It's also more than just profit taking when something loses more than 50% of its value but more along the lines of people selling at a loss because they don't want to lose even more.