"when dentists offer stock tips, it's time to sell"

http://theinvestmentsblog.blog...il-party-theory.html

 Looks like btc still has 6K to fall. :-)

MangoMonkey posted:

"when dentists offer stock tips, it's time to sell"

http://theinvestmentsblog.blog...il-party-theory.html

 Looks like btc still has 6K to fall. :-)

Maybe... It could go back to $0.01. Suppose it falls back to $1,000. That is still a 300% price appreciation from mid 2015. In most sectors that would be a fantastic return. 

http://business.financialpost....test-bubbles-by-bofa

"Unlike past peaks in Bitcoin prices, the survey evidence, based on our modeling, suggests that the speculative bubble in crypto currencies may have passed its peak," the bank said as part of its annual Equity Gilt report this week.

Barclays Research's prediction:

The prediction comes as part of a larger comparison between the cryptocurrency craze of the past year and epidemiological models.

The team of analysts, led by Joseph Abate, says there's a striking similarity between bitcoin's rise in popularity and the spread of viruses like influenza.

"Applying this model to speculative behaviour in crypto currencies, it suggests that once a large enough share of the population susceptible to speculation becomes aware of and holders of crypto currencies, upward pressure on prices stalls," the team writes. "To the extent that holders' attraction to Bitcoin was speculative — as our empirical analysis of historical prices suggests — those holders then become sellers, initiating an accelerating downward spiral."

"Every time bitcoin has fallen, it has come back stronger. The likely scenario here is that whales who had bought at lows are trying to book some profits instead of what folks in the crypto world refer to as 'HODL'ing,'" says Hartej Sawhney, co-founder of Hosho, a blockchain security company."

Bitcoin in GBP had its largest sustained rise over the last 24 hours  since early February...(around 12%)  in fact there were large rises across the crypto board many a lot higher... , Ethereum is up around 20% over the last week,  I wonder what’s up... a lot of money has started to come in again... perhaps the cycle is starting to repeat again... like it always has done..

Simon-in-Suffolk posted:

Bitcoin in GBP had its largest sustained rise over the last 24 hours  since early February...(around 12%)  in fact there were large rises across the crypto board many a lot higher... , Ethereum is up around 20% over the last week,  I wonder what’s up... a lot of money has started to come in again... perhaps the cycle is starting to repeat again... like it always has done..

There is no money "in" the market. The people who sold the bitcoins in the transactions have it.

??  

Hot news - Goldman Sachs to Open a Bitcoin Trading Operation.

Actually, it is not really hot news as it has been a common knowledge for more than a year.

Frank Yang posted:

Hot news - Goldman Sachs to Open a Bitcoin Trading Operation.

Actually, it is not really hot news as it has been a common knowledge for more than a year.

A friend of mine interviewed for a position with the BTC team. I'm not convinced GS is super serious about crypto.

Warren Buffett takes a shot at crypto today, which is not surprising since he is old school talking about new school.

Charlie Munger had more colourful words than Buffet on the topic:

“I like cryptocurrencies a lot less than you do,” replied Munger, 94. “To me, it’s just dementia. It’s like somebody else is trading turds and you decide you can’t be left out.”

it's a nice comment, and he is 94?

Yes. Here are more Mungerism:

• "I do not think you can trust bankers to control themselves. They are like heroin addicts."
   
• "I'd rather throw a viper down my shirt front than hire a compensation consultant."
   
• [In reference to how the Internet and technology offer both benefits and risks] "When you mix raisins and turds, you've still got turds."
   
• "If mutual fund directors are independent, then I'm the lead character in the Bolshoi Ballet."
   
• "What's the best way to get a good spouse? The best single way is to deserve a good spouse because a good spouse is by definition not nuts."
• “I think that, every time you saw the word EBITDA [earnings], you should substitute the word “bullshit” earnings.”

More boring sideways action.

When the big institutions start putting their money in (and they are preparing to do that)  then things will get interesting. Question is, which tokens will be the winners?

Wish I could come up with a good way to invest in blockchain outside of the nuisance that are the crypto exchanges.

After all the ups and downs a little sideways action often allows 'strong' coins to flourish whilst 'weak' coins stagnate. 

"An experimental new Internet-based form of money is created that anyone can generate at home; people build frightening firetrap computers full of video cards, putting out so much heat that one operator is hospitalised with heatstroke and brain damage.

A young physics student starts a revolutionary new marketplace immune to State coercion; he ends up ordering hits on people because they might threaten his great experiment, and is jailed for life without parole.

Fully automated contractual systems are proposed to make business and the law work better; the contracts people actually write are unregulated penny stock offerings whose fine print literally states that you are buying nothing of any value.

The biggest crowdfunding in history attracts $150 million on the promise that it will embody “the steadfast iron will of unstoppable code”; upon release it is immediately hacked, and $50 million is stolen.

How did we get here?"

Read this a couple of weeks ago. It certainly didn't do anything to turn me into a believer. But maybe I'm just operating in an echo-chamber, and only seek to confirm my own biases.

Markets remain pretty unimpressive.

Simon-in-Suffolk posted:

Bitcoin in GBP had its largest sustained rise over the last 24 hours  since early February...(around 12%)  in fact there were large rises across the crypto board many a lot higher... , Ethereum is up around 20% over the last week,  I wonder what’s up... a lot of money has started to come in again... perhaps the cycle is starting to repeat again... like it always has done..

I guess not. Everything I looked at is more-or-less back to mid-November prices.

Well they have  gone up and down several times  a fair bit since the.... they don’t just keep going up in value... as a say it always been a cycle to me but even so  they, Bitcoin for example, is a fair bit higher than I had in the beginning of November.. it’s actually worth about $6.5k per bitcoin at the moment.

Bitcoin was worth $6.7k on 1st November!

Sorry I checked my records, in early November  last year I was holding Litecoin and in early October I purchased at about £40 per Litecoin, just checking now it’s about £74.. so yes a relatively modest 85% gain, but I agree it’s been a lot higher since then.

The markets have lost over $200 billion over the past couple months and it is dropping further. Let the bloodbath continue.

Indeed - great opportunities potentially for those who are brave enough...and if not then just hold them - lots of peaks and troughs recently and this looks like quite an interesting trough to day - but many of the big established cryptos have declined in the last 6 months if you zoom out on the price graphs - but most are significantly up over 12 months... but obviously don't invest in cryptos what you cant afford to loose. Just had a gander at the markets - there are some big buys out there against some of the large sells - almost as if there is a large change of ownership...

https://www.fastcompany.com/40...&utm_content=rss

Say it ain't so.....