Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000

Post by coralreef » Fri, Dec 22, 2017, 8:29 PM UTC

TheDong wrote: post #33

coralreef wrote: post #29

Earlier quoted context omitted.

People always forget to include future innovations in their projections. It's as if they don't believe (or know) that software can rapidly improve. The lightning network looks very promising in its ability to scale and reduce fees. It would make transactions nearly instantaneous, have reasonable fees, and help scale the network.

Help scale "the" network? No, it would help scale "the lightning network" which would not be the same as "the bitcoin network".

Post by coralreef » Fri, Dec 22, 2017, 8:33 PM UTC

geezerjay wrote: post #37

coralreef wrote: post #23

Earlier quoted context omitted.

The internet was a big bubble, and quite a few stocks survived and made handsome returns.

What an awfully disingenuous comment. Just because some random so called "cryptocurrency" may still hold any residual value after this bitcoin pump-and-dump scam blows up it doesn't mean it makes any sense to keep pumping, let alone enter the fraud at this stage.

Post by arisAlexis » Fri, Dec 22, 2017, 8:35 PM UTC

geezerjay wrote: post #37

coralreef wrote: post #23

Earlier quoted context omitted.

The internet was a big bubble, and quite a few stocks survived and made handsome returns.

What an awfully disingenuous comment. Just because some random so called "cryptocurrency" may still hold any residual value after this bitcoin pump-and-dump scam blows up it doesn't mean it makes any sense to keep pumping, let alone enter the fraud at this stage.

Post by dahdum » Fri, Dec 22, 2017, 8:41 PM UTC

bob_theslob646 wrote: post #41

dahdum wrote: post #14

Hedge funds can short too, why the cold feet all of a sudden? My guess is he's shorting the markets or couldn't raise the capital after all. Or ultimately thought the risk to his reputation if his fund failed was too high.

It's different shorting when you have to put up so much capital to short all at once. To give you an idea, on future exchanges in the United States, you have to put up a 90% maintenance margin, compared to other commodities that allow you to maintain 40%. Options not being written is another factor. >Getting cold feet ? I bet it's not easy raising money when the asset you are trading falls 40% in two days.

Post by geezerjay » Fri, Dec 22, 2017, 8:42 PM UTC

coralreef wrote: post #44

geezerjay wrote: post #37

Earlier quoted context omitted.

What an awfully disingenuous comment. Just because some random so called "cryptocurrency" may still hold any residual value after this bitcoin pump-and-dump scam blows up it doesn't mean it makes any sense to keep pumping, let alone enter the fraud at this stage.

What is Bitcoin supposed to be worth? The only way to determine true value is to go through these phases of price expansion and contraction until equilibrium is reached. If you don't want to participate in volatile speculation, that's fine, the average person shouldn't. But there is no other way around it.