Bitcoin and cryptocurrency trading thread

[notting]

If something has gone up 30,000% in a year and is being valued as a company worth 225B and has become the 10th largest company on earth by value, based on basically a computer byte, that can be replicated infinitly, I can understand why people would not call that a bubble.

Bubble just isn't the right word.

I don't think there is word for that, it hasn't been invented yet to describe what that is!

Oh wow it just came to me - 'The mother of all bubbles,' oh no, that's for the bond market, "Oh, Oh, Oh, it's it's holy cow! -it's THE VIRGIN MARY."
I'm not getting my threads crossed here

 

[CanOz]

On a factual note....

BTC futures XBT 01-18 is getting more liquid, and the spread in Euro the sessions is getting narrower...

 

[galumay]

I don't think there is word for that, it hasn't been invented yet to describe what that is!

Its not a bubble, its an effing NEBULA!

 

[notting]

Its not a bubble, its an effing NEBULA!

I had to look it up!
Thank you. I was stretching for something!
I'll try to get Cramer to use it.

 

[moXJO]

I heard today on Twitter that the new phase of this craze was to sell the registered crypto trading accounts...apparently they're getting harder to come by....i'll try and find the tweet....

Jeez, if that ain't signs of a bubble then shoot me...

Binance accounts I think it was. Yeah some crazy stuff going on.

 

[moXJO]

That's your take on it.....ignore that fact that any coins intrinsic value is ZERO as it should be, Ignore the fact that this is showing all of the signs of a CLASSIC bubble....the people "investing" in this likely could not even spell Quantitative Easing......

The whole world is investing in cryptocoin. At a scale never seen before. Its got a lot more run yet, but the pop is going to hurt.

A lot of people I know have a lazy $5 to $10k on it.

 

[Smurf1976]

If something has gone up 30,000% in a year and is being valued as a company worth 225B and has become the 10th largest company on earth by value

All up cryptocurrencies are now valued at around USD 700 billion.

That's equivalent to the entire global oil industry's production for 4 months.

Or it's 0.9% of the whole world's annual GDP.

It's more than the market cap of any airline or car manufacturer.

And so on.

Given that even "blue collar" workers such as excavator operators and truck drivers are now casually talking about this during lunch breaks it sure looks like a mania to me.

It reminds me very much of the dot.com bubble. The internet had ongoing value most certainly but half baked business models producing no revenue with stocks trading at ridiculous prices sure didn't.

 

[sptrawler]

It was funny on the weekend, I was at a rely's house and we were chatting, their son said he was mining bitcoins a while back.
But now his computer can't do it, I didn't get into him about it , as we were just visiting.
But next time I will try and gleen more info.

 

[luutzu]

Read on Reuters that US companies double or triple their market cap by simply changing their company name to have Bitcoin or crypto etc. in it. Kodak doubled its share price by moving into some sort of crypto too.

There's the "electronics", Computers, Digital, .Com...

And oh, Buffett said he's almost certain crypto isn't going to end well.

Maybe I wasn't paying much attention nbefore but I've never seen so many potential shiet storm brewing.

Private debt, national debt at record level; asset bubbles; imaginary money bubble; property bubble... all over the world.

 

[Value Collector]

Read on Reuters that US companies double or triple their market cap by simply changing their company name to have Bitcoin or crypto etc. in it. Kodak doubled its share price by moving into some sort of crypto too.

There's the "electronics", Computers, Digital, .Com...

And oh, Buffett said he's almost certain crypto isn't going to end well.

Maybe I wasn't paying much attention nbefore but I've never seen so many potential shiet storm brewing.

Private debt, national debt at record level; asset bubbles; imaginary money bubble; property bubble... all over the world.

Buffett says he would buy 5year puts on cryptos if he could, so he is obviously thinking they are going to crash

https://www.google.com.au/amp/s/www...rrencies-will-almost-certainly-end-badly.html

 

[tech/a]

Ho hum

Countless posts on doom.
Does the guy with 25000 Ripple at 84c care
Does the guy who has 100 BTC at $1 care.

We all agree it’s madness.
No matter how many posts on madness you put up
It is what it is.
97% sit back and reinforce each other with why they don’t want to be in the madness
That the other 3% think is just fine.

Like pretty well all opportunities in life.

When you’ve been involved in enough madness over the years you’ll find the rarefied air is refreshing even exhilarating.

Like jumping out of a plane. Few do it but those who do experience something only they can articulate.
97% would NEVER contemplate jumping out af a perfectly good bank account.

 

[HelloU]

All up cryptocurrencies are now valued at around USD 700 billion.

That's equivalent to the entire global oil industry's production for 4 months.

Or it's 0.9% of the whole world's annual GDP.

It's more than the market cap of any airline or car manufacturer.

And so on.

Given that even "blue collar" workers such as excavator operators and truck drivers are now casually talking about this during lunch breaks it sure looks like a mania to me.

It reminds me very much of the dot.com bubble. The internet had ongoing value most certainly but half baked business models producing no revenue with stocks trading at ridiculous prices sure didn't.

In a world where we use 'regular' money to send heavily armed warships across the world to destroy other peoples 'drugs' whilst at the same time opening up export markets for our own 'drugs', and use 'regular' money to fly people around the world in oil burning aircraft so that they can attend climate change conferences that advocate a reduction in the use of fossil fuels, or where we have CFD's and hedges and naked shorts..........I think crypto can somehow find a home in that world for those that choose to be involved.

 

[luutzu]

Buffett says he would buy 5year puts on cryptos if he could, so he is obviously thinking they are going to crash

https://www.google.com.au/amp/s/www...rrencies-will-almost-certainly-end-badly.html

Buffett: I get into enough trouble with things I know about. Why in the world would I want to get into things I don't know much about.

Great line.

 

[moXJO]

Ho hum

Countless posts on doom.
Does the guy with 25000 Ripple at 84c care
Does the guy who has 100 BTC at $1 care.

We all agree it’s madness.
No matter how many posts on madness you put up
It is what it is.
97% sit back and reinforce each other with why they don’t want to be in the madness
That the other 3% think is just fine.

Like pretty well all opportunities in life.

When you’ve been involved in enough madness over the years you’ll find the rarefied air is refreshing even exhilarating.

Like jumping out of a plane. Few do it but those who do experience something only they can articulate.
97% would NEVER contemplate jumping out af a perfectly good bank account.

Day traders are in on the action as well and loving it. 50% swings on some coins in a day or 2 and no wonder.

 

[moXJO]

Buffett: I get into enough trouble with things I know about. Why in the world would I want to get into things I don't know much about.

Great line.

Keeps out of medical, science and technology stocks then I suppose.

 

[tech/a]

Buffett: I get into enough trouble with things I know about. Why in the world would I want to get into things I don't know much about.

Great line.

That just shows how innovative Buffett is. Rating ZERO.

If everyone had that attitude the human race would still be making fires with sticks.
So Elon Musk is a complete idiot!
Richard Branson was born with Airline Expertise.

Why in the world would I want to get into things I don't know much about.

To be one of the first
To be a trail blazer
To LEARN
To be an innovator
To be a leader.

Buffett the common mans hero.
Good thing those who lead innovation aren't COMMON

 

[moXJO]

Heres a link to Buffetts portfolio (supposedly).
http://warrenbuffettstockportfolio.com/index.html
Lota banks, eww mosanto the evil and he still is in coke?

 

[luutzu]

That just shows how innovative Buffett is. Rating ZERO.

If everyone had that attitude the human race would still be making fires with sticks.
So Elon Musk is a complete idiot!
Richard Branson was born with Airline Expertise.

Why in the world would I want to get into things I don't know much about.

To be one of the first
To be a trail blazer
To LEARN
To be an innovator
To be a leader.

Buffett the common mans hero.
Good thing those who lead innovation aren't COMMON

Investors don't need to be innovative. Just be knowledgeable.

We can all take a punt and have a speculation here and there. Graham talk about it, maybe, from memory, even suggest it's not a bad thing to speculate.

Just when speculating, do it with money you can afford to lose.


Investing as in the allocation of capital... that's very different from being entrepreneurial. Different job description.

There are "angel" investor, venture capitalist who backed entrepreneurs. And no, they're not always the government using public money.

Musk and Branson are good salesman. That's not saying they're not clever... but a different kind of clever, not the technologist or airline/music/car manufacturing/space explorer they're made out to be.

Look at Nikola Tesla or Thomas Edison or Ford or Disney... They're enterprising pioneers. They're not investors. The investor that eventually bring those vision to the mass market, they're not the innovative kind either - just seeing value and profit from their investment.

 

[luutzu]

Heres a link to Buffetts portfolio (supposedly).
http://warrenbuffettstockportfolio.com/index.html
Lota banks, eww mosanto the evil and he still is in coke?

Coke is a lot more than its secret formula and cool good taste. Heck, I prefer Sarsi to coke any day.

From that list, seems Buffett is into technology.

And into banking and insurance in a big way. You can't tell me banks and insurers aren't innovative. I mean, look at some of the rubbish they managed to create, packaged and sell.

 

[luutzu]

Keeps out of medical, science and technology stocks then I suppose.

Keep out of it if the investor know nothing about it.

That's just common sense.