Bitcoin Fall Extends to 25% as Fears of Crackdown Linger

Post by brucephillips » Wed, Jan 17, 2018, 12:48 AM UTC

lsaferite wrote: post #225

philipov wrote: post #198

Earlier quoted context omitted.

I believe strongly that the word 'invest' should be used to distinguish one's activities from speculation, rather than be a superclass of it. Discourse is poisoned when people promote semantic overlap and create ambiguity, rather than using words to create meaningful distinctions. Investing is what you do when you're not merely speculating on short-term returns, but are instead focused on long-term value creation. It…

Unless you are part of an IPO or are buying newly issued stock you are also speculating on stocks when you buy them. Note: Not a finance person, just a personal opinion.

Post by philipov » Wed, Jan 17, 2018, 12:50 AM UTC

brucephillips wrote: post #241

philipov wrote: post #239

Earlier quoted context omitted.

In practice, it may not be possible to neatly classify any particular financial decision as being purely investment or purely speculation. This only increases the need to have these words mean clearly different things so that we may use them to analyze the different aspects of the ambiguous world in which we find ourselves. Blurring the meaning of the words effectively robs people of the ability to reason about their…

The impossibility of separating the two concepts necessitates two different words for those concepts? That's a contradiction.

Post by rconti » Wed, Jan 17, 2018, 12:53 AM UTC

joering2 wrote: post #23

vthallam wrote: post #7

The last time China explicitly banned Bitcoin, it dropped by around 45% to around $6000. It went on to $20K from there. But what's different this time is that there are first time investors in millions who joined in the last 2 months. They didn't read the white paper, they didn't invest in technology, they invested for the monster returns. So I think there will be a more sell off this time before it rebounds back to…

Just like with dot com burst, it doesnt mean someone will turn the lights off forever. Just like the internet eventually got mainstream and websites are being bought and sold for billions these days, same way BitCoin will never be at 0,001 cent with nobody touch it with a long stick.

Post by tyingq » Wed, Jan 17, 2018, 1:00 AM UTC

jraines wrote: post #243

tyingq wrote: post #151

Interested in what someone with deep Bitcoin experience thinks the bottom is this time, before it starts to rebound...and why. Edit: Yes! Ggm's request below too.

this is a TA based idea, so please know I'm presenting it neutrally with full knowledge that TA is anathema to this crowd: volume profile at the various price points suggests somewhere in the 5k range. You can talk yourself into higher ones, lots of experienced people expect 8k, but to me the "clear" support is closer to 5k. Who knows, though; I don't claim to.

Post by bduerst » Wed, Jan 17, 2018, 1:02 AM UTC

cantrip wrote: post #149

bduerst wrote: post #66

Earlier quoted context omitted.

Yep, these comparisons between Bitcoin and other successful technologies are like a new type of fallacy (techno-fallacy?) where people assume that because it's technically-complex it is somehow destined to succeed like other technically-complex successes. It's a form of survivor bias because you never see or think about the technically-complex failures, or "not-successes", like the Tamagatchi, Laser disc, WebTV, Webv…

The self balancing technology in the Segway, revolutionary at the time, paved the way for hoverboards. The forms are changed but the underlying technology is the same. In the same way, Eth and Monero are further iterations of Bitcoin.