This guy says futures are a failure

Discussion in 'Cryptocurrencies' started by SoesWasBetter, Jan 1, 2018.

  1. OK, you can keep the $1 you put under the mattress and I will take the $300,000 store of value in Bitcoin. I look at Bitcoin as an insurance policy in case things really go to pot.
    #51     Jan 6, 2018
    johnarb likes this.
  2. dealmaker


    "He who thinks he knows, doesn't know. He who knows that he doesn't know, knows."
    - Lao Tse
    #52     Jan 6, 2018
    themickey likes this.
  3. henry76


    How do you know he said that?
    #53     Jan 6, 2018
  4. johnarb


    I cringe whenever I'm asked :sneaky: I just say more than 10 (but lately I've been lowering it to more than 2, because some react with extreme panic, as in ca$h out tomorrow, or asap, because it can go to zero in the very near future).

    Cash out to fiat and pay the taxes, then what? buy the lambo? ok, but no thanks. I'd rather get whatever we need, food, shopping, travel, and I'll be glad and eager to pay the taxes for those. The rest, I'd rather hodl. You can be happy with your 50% gain in the stock market and I'll be happy with my crypto portfolio.

    #54     Jan 6, 2018
    Illini Trader likes this.
  5. I am with you on this. My plan is to just hold and see what my crypto portfolio is worth at the end of 2019. I previously told my wife what my goal was at the end of 2019 and it hit it already. So we will just see where it ends up. Of course I imagine I will add new coins as companies come up with unique applications with expectations of 100 baggers on some of those. This is the opportunity of our lifetimes and it is even more remarkable that so few on ET get it.
    #55     Jan 6, 2018
    johnarb likes this.
  6. johnarb


    Last year (around March), I showed my wife the portfolio status and my description was "It's surreal". Things have gotten even crazier since...

    Today is Saturday in the US and financial markets are closed. Not the crypto markets, as our portfolio is up over $50K (not gonna give exact figures) in USD profits but I have not made a a crypto trade since 2 months ago. Granted, it goes down in similar amounts at times.

    What you said about the opportunity of our lifetimes is lost on many on this site who are the very people that are supposed to be active on this type of market. A 24/7/365, global market that is in a full blown mania. garachen even created a thread that was on point about this trading opportunity and unfortunately, it got moved to this forum and it pushed him to leave the site.

    In a way, it's also good the naysayers are not taking advantage of the opportunity. They don't deserve it and hope they continue to be outsiders always waiting for the "crash".
    #56     Jan 7, 2018
  7. henry76


    The point is Bitcoin WAS an opportunity of a lifetime , it's quite possible we shall see this opportunity in other CC's , but not again in Bitcoin because it's price/ capitalisation prevent's it's past performance repeating itself.
    #57     Jan 7, 2018
  8. You are correct it in a normal environment but another 2000% increase is within range. A point I continually make is that is is also a "store of value" as protection in a highly inflated world economy or if and when we should find ourselves in super inflation. Then all bets are off as to how far it will go in terms of whatever currency is being inflated. The other newer coins will have much value because of their unique application of this new technology but Bitcoin with its small supply and world acceptability will be a rock in an unstable world.
    #58     Jan 7, 2018
  9. henry76


    Sounds like wish full thinking to me, few would consider cc's as a rock , more like a speculative punt, that doesn't pay dividends and usefullness can be replicated , even improved upon. I'm not sure even current prices can be sustained without more rises.
    #59     Jan 7, 2018
  10. i960


    Classic bubble/mania based on projected ideas of future use built on a seriously flawed implementation. There's really no need to hedge words here.

    Will cryptos and/or blockchain gain mainstream usage at some point? Yes. Is that point now? No. Multiple entities will not allow it. C'mon folks, remember who you're dealing with here.
    #60     Jan 7, 2018