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  • QuarterMillionMan
    replied
    Bitcoin just hit $13,000 today.

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  • Tabs
    replied
    NO. Absolutely bad idea.

    Speculative fever died down, #HODLGANG held at $6000 for a while, but now, even that support has collapsed, with BTC at $3,656 at the time of this writing. HODL and those who bought back in thinking there is fundamental support got severely burned.

    Even at $6000, dedicated miners were already abandoning ship, and now, the mining field is not even remotely profitable. So much so that it even impacted both nVidia and AMD's own quarterly outlook.

    Even Novogratz, crypto's perma-bull, has tempered his own outlook. Novogratz.

    My question that I keep posing to crypto-bulls is this: If you believe there will be a comeback, what is the thesis for this comeback?

    Bakkt? They are an exchange desk, so of course they are going to cheer for it. All the while, don't forget they are still under the watchful eye of Sauron I mean the Chinese government.

    Dark net? Bitcoin is merely one of many intermediary coins now. Much of the value store is now being tumbled into much more "secure" coins that law enforcement supposedly can not trace.

    Venezuela? I think Maduro will basically use anything and everything under the sun to try to create the magical illusion of value, and try to halt hyperinflation. Last I heard, he's still failing miserably at that. Please remember that crypto is still just another form value store, but if there is next to no value to store to begin with...

    This is just my personal opinion of course, but I've been warning people ever since $20,000 BTC, when bulls argued that it would shoot to $100,000. But even at $3600, I will continue my bearish outlook. Why? Not because of the numbers, but because I just don't see or understand how it would rebound. I am willing to listen to evidence, data, or at least some sensible explanations that suggests otherwise, but those seem to be difficult to come by?

    And this is coming from a guy that firmly believes that cryptocurrency technology will become a part of fiat some day. Some day out there, just not the way things currently look.
    Last edited by Tabs; 01-11-2019, 01:34 PM.

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  • Jacob S
    started a topic Cryptocurrency

    Cryptocurrency

    Nowadays many peoples are starting their business in cryptocurrency exchange field...This is really a good idea?...Kindly give your suggestions...
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