Dan C
Honorary Master
HODL do not SLEL
-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: Which is the most hair-raising South African mountain pass you've driven?
The Bitcoin Thread
- Thread starter Keeper
- Start date
- Status
HODL do not SLEL
Go away Satan.
Bitcoin has become a craze and quick money hype and I heard some guys who don't understand it and compare it to a Kruger Rand but are hoping to make big money by "playing" with their access bond and rent money.
Remember, its not a guarantee source of profit. It's risky. Don't gamble on Bitcoin. Invest in it. Invest only what you are prepared to lose, cos in the short term game, you can easily lose 1/4 of your portfolio overnight. Dollar price will change, Bitcoin price will rollercoaster, but hodl long and you may achieve that financial freedom figure.
I leave you with a quote of someone who knows a thing or two about making money..
"Never risk what you have and need for what you don't have and don't need." Warren Buffett
Remember, its not a guarantee source of profit. It's risky. Don't gamble on Bitcoin. Invest in it. Invest only what you are prepared to lose, cos in the short term game, you can easily lose 1/4 of your portfolio overnight. Dollar price will change, Bitcoin price will rollercoaster, but hodl long and you may achieve that financial freedom figure.
I leave you with a quote of someone who knows a thing or two about making money..
"Never risk what you have and need for what you don't have and don't need." Warren Buffett
Mr Scratch
Expert Member
- Joined
- May 15, 2013
- Messages
- 4,872
- Reaction score
- 1,040
I've heard this countless times over the past 5 years. You are wrong.
Ok? I've heard people say that the Earth is flat.
People do this at casinos too, are you new to this?
Nothing is.
Why? It's a gamble. Same way people gamble on anything.
This is wrong, do not blindly hold money into anything unless you have reasonable expectations of growth.
Have you looked at the ZAR/USD recently?
Survivorship bias
"Bitcoin has become a craze and quick money hype" That is false.
The rest of your post is true-ish, this as with any other investment should not be done with money you do not have. Common sense should still apply.
etienne_marais
Honorary Master
Bitcoin Cash approach $1000, market cap 15 billion (Bitcoin 66 billion).
R14 000 on altcointrader.
R14 000 on altcointrader.
Azg
Expert Member
At the moment Bitcoin Cash is very volatile and you may make a small amount of money if you have the time and the courage / appetite for risk, swing trading it. Yesterday it doubled to B0.199, then this morning fell to B0.11 before doubling again to B0.24. Now falling again.
C4Cat
Honorary Master
- Joined
- Nov 9, 2015
- Messages
- 14,305
- Reaction score
- 6,633
Actually he is 100% correct, bitcoin has become a craze and quick money hype - this very thread is proof of that. It was started 3 years ago in 2014, is around 145 pages long yet over 100 of those pages are from this year, 2017, most in the last few months. This isn't to say bitcoin doesn't have real value, but if most people here are honest, those that invested this year or in the last few months, they'll admit they are hoping to make big profits quickly by trading - that's the quick money hype.
No, this is just people adopting bitcoin. It's still young, really really young.
Difference between awareness and adoption vs Hype and Get rich Quick.
At least, I hope the people in this thread is part ofo the adoption camp and not the get rich quick lend bank's money to buy coin camp.
etienne_marais
Honorary Master
True. I had a relatively low-priced sell order which I set up when I thought nothing was going to come from it, it filled with the initial climb recently. I am not buying in again, perhaps I may at a significant dip in the future but my interest is more related to the possibility of longer term dynamics if mining profitability should exceed that of Bitcoin's and widespread adoption should take place. Things could change drastically in the long run. Bitcoin will remain the buy-in and base for trading to other coins (for most) for a good while, yet I can't help but feel that Bitcoin could possibly erode in importance and later in value in due course.
I transferred 95% of my access bond money into cryptocurrenies. We're not "playing" with our money, cryptocurrenies will give higher rates of return compared to if it's in an access bond or bank account.
If you're still listening to Warren Buffet, you're becoming a dinosaur.
The new benchmark for rates of return is not the S&P 500, JSE All Shares Index, Nasdaq, etc, anymore. It's Bitcoin or Bitcoin Cash. Those are our new benchmarks. If your rate of return is lower than BTC or BCH (whichever is higher), then you're losing and falling behind. I'm already behind, just trying to catch up.
Unlike the Dot com bubble, where an investor invests money into a stock and hopes for riches but the money just stays there, the Bitcoin "craze" is where an investor invests money into Bitcoin, but also can use Bitcoin to make purchases or payments. It doesn't matter matter much if Central banks accept cryptocurrenies as legal tender. As a normal human being I can literally send money to you via the blockchain. So Bitcoin has real world utility, and it works. There'll always be speculators, but I bet my life savings that Bitcoin will never go to zero. Some alternative currencies will and have, like DMB, but not Bitcoin.
Careful there.
Bitcoin is old and the blockchain is outdated.
It's MySpace, it won't be here in the future, the Facebook of crypto will come along.
Just always keep that in mind.
Do you think something like the tangle from IOTA will replace it?
Keep a watch out for these guys and their tech.
Last edited:
It most definitely will.
The Internet Of Things (IOT) is the future...
biometrics
Honorary Master
- Joined
- Aug 7, 2003
- Messages
- 71,856
- Reaction score
- 2,239
Doesn't take much to hype you guys up. Lol.
Do you think cryptocurrencies is just a fad?
biometrics
Honorary Master
- Joined
- Aug 7, 2003
- Messages
- 71,856
- Reaction score
- 2,239
No, just overvalued. A lot of it is trash.
- Status