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Litecoin and Ethereum buys and sells are temporarily disabled

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Re: Litecoin and Ethereum buys and sells are temporarily disabled

#441

Post by alexcnwy »

charlesdm wrote: post #321
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

Even if it is a bubble, that doesn't mean it can't go another 20x from here, depending which crypto you put your money in. There's cheap liquidity (ho ho ho said the FED and the ECB), there are institutions (pension funds) that are starting to buy in, and in comparison, the dot-com bubble (which was mainly a US led bubble, not global) went to $5.7tn to $1.7tn. Gold is worth $8tn globally. Why couldn't Bitcoin get to…

It can also lose 20x. Losses hurt more than gains feel good. Utility theory suggests to sell if probability weighting of loss is high enough.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#442

Post by vesrah »

alexcnwy wrote: post #441
charlesdm wrote: post #321

Earlier quoted context omitted.

Even if it is a bubble, that doesn't mean it can't go another 20x from here, depending which crypto you put your money in. There's cheap liquidity (ho ho ho said the FED and the ECB), there are institutions (pension funds) that are starting to buy in, and in comparison, the dot-com bubble (which was mainly a US led bubble, not global) went to $5.7tn to $1.7tn. Gold is worth $8tn globally. Why couldn't Bitcoin get to…

It can also lose 20x. Losses hurt more than gains feel good. Utility theory suggests to sell if probability weighting of loss is high enough.

How? If the value goes to 0 you lose 1x, not 20x.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#443

Post by wallacoloo »

rdm_blackhole wrote: post #341

I understand that at the moment it may seem like all the cryptocurrencies are in a bubble but honestly, I don't mind because it is forcing the banks to stop their stupid cash grab and loosen up some of their rules. What about the stupid fees that bank charge you to have the privilege to have you as a customer? What about the fact that at the moment it takes 3-5 business days to make a simple bank transfer to another…

> What about the stupid fees that bank charge you to have the privilege to have you as a customer?

Might be worth using a credit union. To my knowledge, BECU isn't charging me any fees for my accounts with them.

Also worth noting that all governed digital payment systems (VISA, Paypal) are (1) prone to censorship and (2) leak information. Additionally, ACH and card transactions are based on debits that are initiated by the person requesting funds, as opposed to credits that are initiated by the owner of the funds. Not so terrible, but for the fact that the approval process for transactions is almost always one-sided. Anyone can debit my account and that transaction will go through by default.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#444

Post by JonnyNova »

nicky0 wrote: post #325
joe_the_user wrote: post #285

Earlier quoted context omitted.

People who call Bitcoin a 'Ponzi scheme' , type of plant or apply whatever reduction on a very complex and innovative product are just mind boggling to me. Plenty of things that were eventually successful products went into extreme bubble and correct mode before they were successful. Blockchains may or may not be part of the finance of the future. But that doesn't mean that 99% of the price of a given blockchain prod…

There is no evidence that bitcoin is or isn't in a bubble. It is a conjecture either way.

It is a textbook speculative bubble. The whole idea of hodl is literally speculation.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#445

Post by diab0lic »

vesrah wrote: post #442
alexcnwy wrote: post #441

Earlier quoted context omitted.

It can also lose 20x. Losses hurt more than gains feel good. Utility theory suggests to sell if probability weighting of loss is high enough.

How? If the value goes to 0 you lose 1x, not 20x.

It can become worth 1/20 of it's original value.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#446

Post by JonnyNova »

hndamien wrote: post #350
arcticfox wrote: post #311

Earlier quoted context omitted.

> a very complex and innovative product. The main point here is that there's absolutely nothing innovative about BTC anymore, if anything it's way behind. Which is why the valuation is so suspect; it's totally disconnected from the utility BTC provides compared to alts. Anything BTC does, alts do better, except for marketing.

And universal acceptance, valuation and infrastructure support. Thats a big exception.

Who accepts or prices things in bitcoin anymore?

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#447

Post by rohit2412 »

zMiller wrote: post #150

This thread's audience is obviously a 'developed nations' one. From our perspective yes, Crytpo's use case as currency make absolutely no sense (yet), we tap our Visa card to pay instantly with no fees and no fraud liability, hard to beat. As a store of value however there is a very strong use case in the western world. Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that i…

Clearly a "first-worlder" view. People in (most) oppressive regimes are not looking to move off their currencies, and nobody is looking for a decentralized solution for banking. M-pesa, Vodafone money, mobile wallets work great for people. There's no reason for costly decentralization that Bitcoin offers.

Maybe a case could be made for Venezuela where bolivars are useless, but USD is a far better candidate for their currency needs that Bitcoin, given how volatile Bitcoin is.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#448

Post by qsucvatz »

vesrah wrote: post #442
alexcnwy wrote: post #441

Earlier quoted context omitted.

It can also lose 20x. Losses hurt more than gains feel good. Utility theory suggests to sell if probability weighting of loss is high enough.

How? If the value goes to 0 you lose 1x, not 20x.

Going to $0 is -Inf% loss.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#449

Post by exelius »

School-Cotton wrote: post #422
smokeyj wrote: post #396

Earlier quoted context omitted.

It isn't crazy to imagine crypto becoming adopted for actual transactions . Even if people are currently speculating, they're still downloading wallets they can spend from and loading it up with currency. For all these users there is now nearly zero obstacles to spending. This isn't even to say bitcoin is the transaction layer, but bitcoin still provides liquidity to any alt/2nd layer solution.

You don't need to physically control your own coins to speculate. I suspect many people are just keeping their stash on exchanges or online wallets.

The vast majority of novice speculators are using Coinbase. They at least attempt to maintain the appearance of compliance; but I suspect a large market run would wipe them out of USD fairly quickly.

The fact that “experienced” Bitcoin speculators are getting nervous is a sign the bubble is about to pop. Tether volumes are hockey-sticking up as a result. There has been enough technical analysis to show that USDT volume drives BTC price and not the other way around. USDT volume is hockey-sticking over the last few weeks. Feels like a Ponzi scheme and the whales are cashing out.

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