Bitcoin is over-hyped and has no real value – South African investment firm

The_MAC

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dont understand these "experts" I think they crying cause they missed the boat big time......

if I was an expert that studied economics and finance, I would at least try to understand my foe,
as this foe will eventually wipe them off the map completely,

I mean eventually these "experts" will realize there is money to be made and not the illegal kind,

just like when the internet and bit-torrent first came out, nobody but nerds and geeks understood what it is,
then eventually they did and everybody including grannies are torrenting on piratebay....

and now big record companies and production houses are doing all sorts of funny things to earn shareholders money....

The concept of "its easier to fight from a position of defence" is only applicable to a fist fight, these investors will eventually be calling for the regulation of Crypto Currencies.

As you said, its poor strategic foresight to dismiss your "competition"..
 

eg2505

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The concept of "its easier to fight from a position of defence" is only applicable to a fist fight, these investors will eventually be calling for the regulation of Crypto Currencies.

As you said, its poor strategic foresight to dismiss your "competition"..

but that "regulation" is too late now, I mean again the big governments and corporations of this world have let another game changing technology pass them by
and dismissed it outright as "silly and juvenile"

what will happen , is just like bittorrent and the internet have changed everything, bitcoin will do the same,
only this time they will be unable to regulate it, and even if they try and tax it, its evaded them and is unable to be regulated at this point.

so we the people win while the man (again) loses....
I personally couldn't be happier, as its about time somebody threw a wrench in the tightly oiled machine that is big business and governments
maybe with some luck we wont get another recession
 

rietrot

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So what happens if Japan or those countries that officially accept bitcoins as a currency rescind their move and declare BTC "not legal" because it was a factor in the spike of organised crime and smuggling?
The same thing that happens to the Rand when Zuma opens his mouth.
No currency is immune against stupid politicians.
 

Hamster

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I hate having to use a wallet like Jaxx, Coinbase or even one of the hardware Ledger ones. What I want is a reputable company (FNB, Stanlib, Old Mutual) offering wallets. I want to log onto my FNB banking and see my crypt currencies there - not on my phone and not in a vault somewhere in my house.
 

Solitude

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Here's an interesting article on the history of currency.

https://www.fxcm.com/insights/the-history-of-currency/

Herman said a currency is more than an exchange medium. A currency is an entity regulated by a government and managed by a central bank.

Which is why cryptocurrencies are so appealing. From the article:

Meanwhile, individual traders, seeking to circumvent the volatility and unpredictability of national currencies that are tied to political decision-making by governments, have experimented with new “digital” currencies such as the bitcoin that are traded entirely in an online electronic environments. History shows that it’s unlikely that more traditional physical forms of currency will disappear as humans have shown a fundamental desire for a physical means of trade. But at the same time, developments have shown that individuals and societies will seek ever-widening definitions for the concept of “currency” to increase the economic efficiency and advantages obtained from trading.

“Cryptocurrencies are not assets. They are nothing more than loyalty points for extravagant computer games with absolutely zero intrinsic value,” said Herman.

Normal currencies these days also don't have intrinsic value. And I trust the "extravagant computer games" much more than I do our governments.
 

rietrot

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I actually think crypto currency has some intrinsic value.
The value/energy/work it takes to mine it and verify the transactions and that, it gets more difficult or easier depending on how many people mine.
 

Solitude

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Also, Herman from Citadel (never going to invest with you guys).

A safer thing to have said is that Citadel does not currently invest in Bitcoin but the world is advancing at an incredible speed and who knows how cryptocurrencies may influence the investments in the future. We are always keeping our eyes open for investment opportunities but at this point in time we prefer to take a backseat and see what happens.

To blindly put it down is not what I want to see in an investment firm.
 

Cius

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They have some intrinsic value, but I still hold that they are in a bubble right now.
 

Ancalagon

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Also, Herman from Citadel (never going to invest with you guys).

A safer thing to have said is that Citadel does not currently invest in Bitcoin but the world is advancing at an incredible speed and who knows how cryptocurrencies may influence the investments in the future. We are always keeping our eyes open for investment opportunities but at this point in time we prefer to take a backseat and see what happens.

To blindly put it down is not what I want to see in an investment firm.

Yeah, pretty much this.

He probably said the same thing about Google and Apple before they made it big.
 

backstreetboy

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I hate having to use a wallet like Jaxx, Coinbase or even one of the hardware Ledger ones. What I want is a reputable company (FNB, Stanlib, Old Mutual) offering wallets. I want to log onto my FNB banking and see my crypt currencies there - not on my phone and not in a vault somewhere in my house.
No thanks :sick::sick:
 

Solitude

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Really, to me they look exactly like the dot com stocks right before the crash.

And maybe it will crash. There's a big chance that there's a bubble waiting to burst. But a lot of people have made quite a bit of money by now. I've withdrawn quite a bit more money than what I've put in initially. It's been my best investment by far.

Until the bubble bursts, there's money to be made.
 

Creag

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Yeah, no reputable investment firm are going to look at cryptocurrencies here, chances are the FSB will have a field day with them if they did.

It's just too risky even for the highest risk fund categories imho.

This is key when valuing an asset:

zero intrinsic value

And I'm afraid I must agree with them.

Yep, I think you're right there. At least with a Zim $ it some entertainment value. ;)
 
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