81–90 of 566 posts
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
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Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!
I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…
Earlier quoted context omitted.
Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!
I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…
Of course, this just shows how bad the air pollution is in China. Then again, water bottle brands like Nestlé's Poland Spring Water are just using "Poland Spring" as a gimmick and a ad-bait. So you definitely can sell thin air at different price based on "where the air was collected."
Tulip Mania comes to mind... https://en.wikipedia.org/wiki/Tulip_mania
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I think the really difficult part might be figuring out when to take it off the table. For example, let's say bitcoin goes up 10x. Then do you decide to sell, because it might crash back down the next week? But what if you miss out on another huge increase by selling?
Sell half after it doubles, then hold the rest until you need the money. Selling half returns your initial investment; what remains is pure profit and you can't lose money.
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Anecdotally, this weekend I've seen 4 (non-technical) friends throw $500 - $5,000 into the three CoinBase coins this weekend, all individually. Before this weekend, they were merely familiar with Bitcoin but no interest in investment, and they did not know what alt coins were. All it takes is for someone to see the hockey-stick growth on the coins to want in. It's too exciting to pass up. The atmosphere is "If I lose…
I think the really difficult part might be figuring out when to take it off the table. For example, let's say bitcoin goes up 10x. Then do you decide to sell, because it might crash back down the next week? But what if you miss out on another huge increase by selling?
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Why would they need the actual coins to allow trading? Only transferring would require access to a wallet.
Seems like selling qualifies as a transfer, no? I think you can still receive and send LTC to other wallets, you can't convert to USD.
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
So what ? It's not the first time it happened with Coinbase, and probably not the last
That's what happens when a business is trying to scale to meet crazy demand.