O/T *******...get ready

[kempo]

Continued

If the rich decide to cash out for any reason then down goes the price causing a stampede of selling.

It will be impossible for ordinary Joe to sell as your exchange won't be able to execute a trade in such a fast moving crash.

Some exchanges will go bust and some operators will run for the hills.

Now that *******s can also be bought with leverage increases the disaster scenario.

Will it happen today at 3 pm or in 3 years I don't know but if I had made John2's profit then I would be out of here and out of my wallet

[gm_gm]

Continued

If the rich decide to cash out for any reason then down goes the price causing a stampede of selling.

It will be impossible for ordinary Joe to sell as your exchange won't be able to execute a trade in such a fast moving crash.

Some exchanges will go bust and some operators will run for the hills.

Now that *******s can also be bought with leverage increases the disaster scenario.

Will it happen today at 3 pm or in 3 years I don't know but if I had made John2's profit then I would be out of here and out of my wallet

Inclined to agree, but if regulation comes quicker then its a whole new ball game in any event....it may trigger the rich kids to dump rather than accept the regulators

[frogmiller]

Kempo, do you think that the wealthy owners will take advantage of this market because it's unregulated and they can do it without risk of being repremanded?

[gm_gm]

Kempo, do you think that the wealthy owners will take advantage of this market because it's unregulated and they can do it without risk of being repremanded?

Not always the case Frog, in many cases action can be taken retrospectively by the FCA and the FSA previosuly

[frogmiller]

Not always the case Frog, in many cases action can be taken retrospectively by the FCA and the FSA previosuly

Thanks gm.

[John2]

******* is quite different to other currencies in that it has no intrinsic value.

It's only worth what someone will pay for it.

What do you think intrinsic value means, and what makes you think the £/$/€ has it?

Also, how do you think the value of the £/$/€ are determined? (Hint: it's not governments that get to decide, its forex markets)

Has a bubble been created..Well we can guess yes but we can only recognise a bubble retrospectively ie when it has burst.

Has it got the makings of a bubble...new exciting technology( tick) hyped to the extreme ( tick) Shoe shine boys and football message board users buying and tipping it ( tick) very important is restricted availability creating great demand ( tick)

So,what's the problem?..If its a bubble will it burst and why?

About a thousand very rich people own 40 per cent of all the *******s and about 2000 own the majority of coins.

Many of these very rich people are known to each other so this allows manipulation of the market and this may explain some of the wide and wild swings.

The rich few can create pump and dumps by acting in unison and carrying out large buys which pushes up the price and causes a stampede of sheep like followers who chase the price.....The rich few the dump their new coins at a massive profit and the price crashes down leaving the ordinary punter high,dry and skint and the cycle can start again.

******* has been through many bubbles, most recently hitting $20k and then dropping back down to $6k, it could still go down further.

The numbers you give about the small number of people who own a majority of coins are completely made up and pure speculation.

Your comments about market manipulation are dead on, there are people with the ability to shift the cryptocurrency markets by pumping and dumping, and they do this. They sell hard at the top, cause the price to crash, and then buy back big at the bottom.

The ones who lose out are the newbies who have no experience trading such a volatile asset, buy into the hype at the top of the market, and then panic sell when the price is crashing. I've seen the cycle so many times.

All of this is a social phonomenon, unrelated to *******'s technological promise, the price measured in £/$/€ is irrelevant to *******'s value proposition, and its future potential. It's just a fact of markets, especially in such an early phase, and hopefully some regulation will be able to take away some of this manipulation.

Who wins and who loses in cryptocurrency? Only time will tell, if it goes on to replace traditional currencies as I think it will, anybody buying it now and for the forseeable future will be a winner, anyone stubbornly holding onto their fiat currency as it hyperinflates out of existence will be a loser. If the markets crash and suddenly everyone stops using ******* forever and decides paper money printed at the whims of government is better, then the roles will be reversed.

[John2]

What do you think intrinsic value means, and what makes you think the £/$/€ has it?

Also, how do you think the value of the £/$/€ are determined? (Hint: it's not governments that get to decide, its forex markets)

Come on kempo, after acting all knowledgeable you went very quiet when I asked these questions. Please let us all know what you think intrinsic value means and how fiat currency has it? I could do with a good giggle.

[kempo]

Come on kempo, after acting all knowledgeable you went very quiet when I asked these questions. Please let us all know what you think intrinsic value means and how fiat currency has it? I could do with a good giggle.

I won't get involved in one of your obsessional,pedantic and tedious arguments about whether a fantasy currency has value.

It is certainly heading towards its true value which is zero!

Both Google and Facebook have banned crypto currency advertising and governments have started on the regulatory path.

Lagarde from the IMF has been very negative and even said ******* may need to be banned.

The end game has begun.

Well done if you have made money but get out while you can is my advice for what it's worth.

Advice to others is don't try and catch a falling knife and leave well alone.

Gm has called this one correct.

Good luck whatever you do John but lets not spend days on intrinsic value...When you can hand me a ******* then I agree it will have some intrinsic value as we could always melt it down!

[John2]

I won't get involved in one of your obsessional,pedantic and tedious arguments about whether a fantasy currency has value.

But you miss the much bigger point... what gives the £ it's value?

If you dig in to the bones and understand this, you'll have a foundation to understand just why ******* has so much value, and won't have to miss out on one of the greatest investment opportunities of a generation. This thing is still in its infancy, like the Internet of 1998.

My initial investment was very small as it was a total wild west back then. As soon as I deposited my test amount, the exchange had its bank account shut down and I had to wait 2 weeks and chase over Skype to get my deposit confirmed. This experience unfortunately prevented me from buying anywhere near as much as I had planned to, if I had I would be a millionaire now, but alas it wasn't to be.

It's funny, I've long experienced these doomsday prophecies... what will it take for you to admit you got it wrong? I've had people telling me its going to crash since it was $100... still telling me its going to $0 when its at $8000, it just makes me laugh.

So your definition of intrinsic value seems to be that a physical manifestation exists? haha. So if the pound hyperinflates out of existence, you'll still have copper coins in your pocket, is that genuinely what you think intrinsic value is? More than 90% of fiat currency exists purely in computer databases by the way!

[Casper64Frank]

Good luck John2 on your venture of selling your ' bricks and mortar ' and making your investment.
Hope everything goes to plan.
Understatement ******* is volatile. really great when it comes off.

Come back on and let us know how you are getting on, good luck once again.