Bitcoin

The fact right now is who didn’t join early is a loser, and I have to include myself. I knew about the bitcoin when it was really cheap, about 2$ and I thought it was a cool idea, I didn’t buy even a little with something I could afford to lose.

Seems I was too lazy to open an bitcoin account, or maybe didn’t believe it could get so high.

Opportunities are made and lost everyday, I don’t have the capital to even deal with BTC spread which is 250 pips. So it is just one more opportunity but not “the opportunity”, big difference.

Bitcoin is another experiment, maybe this or another cryptocurrency will succeed maybe not, what I don’t understand about people is being so narrow-minded about the chances of this happening.

Something like 10000% or more gain doesn’t sound like just another opportunity, cool if you see and get involved into those opportunities more often than I do.

Well, I was not, so what??? A real trader must have the mental strenght to let go lost opportunities, more will come.

Yeah me neither, let move on! :smiley:

[QUOTE=“Mr Gone;579628”] Well, I was not, so what??? A real trader must have the mental strenght to let go lost opportunities, more will come.[/QUOTE]

Hence the bitterness :slight_smile:
One has to have an open mind and a knack for risk and adventure to be able to spot these. And that’s a skill on its own. Crypto currency in one form or another is here to stay. We are lucky to be at this early time, next generation mega successful business is being built on top of the bitcoin ideas as we speak.

i missed a part, how could you ****ing flee from the dollar to the bitcoin ? it shows how little you know, stop posting, this site is about forex, make it constructive, i can explain what i say here but if you press me it will not make you look better.
There’s 21 million bitcoins when all bitcoins are mined, in order to compare to the amount of dollar in the world the last satoshi(whats a satoshi?) needs to be worth over $2k , probably more by now
you dont know ****, youre an old guy in a suit trying to destroy what you cant control
its not working
give it a rest

i just figured, this is because it dumped a few hundred dollars ? you need to check your monthtly charts … you could also buy at gox, bitcoin wallet to the chinese exchange and sell for a hundred a pop more if you dare do all that, if not, why dont you stick to what you know ?
skjoozmee for being a bit ill-tempered, its almost christmas and i hate christmas

Businesses have been promoting bitcoins like crazy. And I think Coinbase will compete with credit card companies as well. Brace yourself for the future of crypto-currency boom guys.

I’m quite surprised by the response to bit coins on here.
I agree the volatility is enough to make anyone’s eyes water but any currency should be looked at in two ways.

  1. Trading
  2. Holding assets denominated in a respective currency

If you have assets of any type you are making a currency play no matter how you look at things. The best part of the idea of bitcoins is that they are de-centralised. Most major currencies are being abused at the moment for political gain. After years of mis-management and inefficient spending on wars, the public sector, etc, instead of fixing economies and effectively getting themselves elected out of office, they choose to continue borrowing which in a lot of countries has led to negative real interest rates. Having saving in a currency which is independent of a single countries manipulation is a good idea. I think given what is going on economically at the moment it’s an idea which if anything needs to catch on. Maybe this is more a question of electorates actually electing a government that will fix budget deficits rather than just taking the easy road but part of this is also people having a choice to make a change. Being able to move your money away from these governments, or at least having the option to, is important.

Let’s not forget, if you have assets and real interest rates are negative, what is actually happening is the government is taking your money from you by stealth to reduce the real value of its debts. This is logically no different than them stealing money directly from your bank account. I have to say, it’s very, very clever mainly because very few people even realise it’s happening, it is also very, very wrong.

If you want to be a professional trader this is very important to you. If you make money the first thing you should do it defend it. Negative real interest rates are a significant problem at the moment and it’s a result of global economic mis-management. The other issue is excessive taxation. Before I talk about this I should say I am a fan of tax. There are people in society that are unable to fend for themselves and it is humanities duty to provide and care for these people. When you are born it is luck of the draw. You could have just as likely been born into a poor society, or for reasons beyond your control, not had the advantages that a lot of the people in this forum have. I however do not think that I should have to pay tax for the 11% pay rise afforded to MPs while they deny even inflationary pay rises to nurses.

You should be taxed fairly to compensate for the advantages the society you live within provides. For people in normal employment that is because they must live in that location to have a good job. Their company must be in that location because they are close to affluent customers. For us, the professional trader, this is not the case, and in a true global economy this is not the case. If you live in a brazil and have and online business that does most of its dealing in china and japan, why should you pay 40% of your money to the Brazilian government? This has become a joke anyway of late because, you are taxed more when you are paid, more when you spend it, the cost of living just keeps going up and why, are things really improving? Is all the money you are putting in really going to pay for firemen and the police, is housing really becoming more affordable? In a global economy if you are lucky to have the flexibility you could live anywhere and thus should live in the location that provides you with the fairest total cost of living.

You may not see it yet, but the idea of a country specific currency is arcane. If you do not believe me look at the euro, look at how many individual currencies that replaced. In the US before the federal reserve existed there were hundreds of regional banks all issuing their own currency. Bit coins are in their infancy, but the idea of a decentralised currency is an important one for a global economy and providing people freedom beyond the control of individual governments.

So what the hell does this rant have to do with bit coins? You should have the option to be able to have assets in a currency in which a single government cannot steal from you. The funny thing is I am not saying change the world, I think it’s far, far too sick and deep down people don’t really want to change. But those of us smart enough to see what is happening should have the option to get off the merry go round. De-centralised currencies will eventually be a way of doing this and it is important that they work.

Doesnt matter its not backed up by nothing, its just like a bubble in the air which can pop out at any time.The fact that they promote it hardcore everywhere just makes the lie more tastful, but when it will pop those guys will lose all their money because nobody will bail them out.

Have you guys seen a stock crash because of lies.It’s like you have your fast food restaurant at the corner and try to make a McDonalds from it by releasing false rumors, the people will believe it for some time, but when they realize that its fake, they will dump the stocks and that company will crash hard.

The same will happen with bitcoin, the media and marketing feeds the bubble very hard and then when the people will realize that their currency has 0 real value and only their belief makes up its value, then they will panic, and everyone will turn their coin back in cash, and that will be the ultimate breakdown of bitcoin.

And eventually there will be people who will be unlucky and fail to sell them in time and lose all their cash very fast.

As soon as bitcoins become more likely to compete with the us dollar the government will raid its us coffers and shut it down from operating in the US they shut down egold and liberty dollar so don’t think it cain’t happen it will happen its just a matter of time. Besides if you can not physically hold it in your hand its not real money just cyber digits that will go down along with the power grid or hackers will steal it eventually.

Yeah maybe, but the other countries will start to legalize it, just to have the power to tax it.And after the bubble pops out they wont care :slight_smile: