Is Bitcoin’s monster rally over for now?

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Is Bitcoin’s monster rally over for now?

Postby sashimaal » Wed May 24, 2017 7:43 pm

"Knowledge is being aware of what you can do. Wisdom is knowing when not to do it" - Brian Tracy

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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Wed May 24, 2017 11:14 pm

I sense, our Bitcoin family members available in Sri Lanka ..... $-)
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Re: Is Bitcoin’s monster rally over for now?

Postby voight » Thu May 25, 2017 12:16 pm

The Case Against Bitcoin & Crypto-Currency

Bitcoin just hit a new high in value, and other non-traditional currencies are rapidly appreciating, but curb your enthusiasm.

So says Brown Brothers Harriman, acknowledging the rising market capitalization of Ripple, which has surged more than six-fold to $13 billion, and of Ethereum, which was worth about $700 million in January and recently was valued at more than $8.5 billion. But if these so-called crypto-currencies are hoarded, BBH notes, they cannot develop the critical mass of networking to fulfill the other functions of money as a means of exchange, BBH writes. UPDATED: Yet crypto-currencies still are praised by bulls as an alternative to fiat currencies, though neither is typically backed by gold or silver. BBH's Marc Chandler, global head of currency strategy; Win Thin, global head of emerging market currency strategy; and Masashi Murata, emerging market currency strategist, write:

" ... There are several factors that may have spurred renewed interest in this space. Geopolitical uncertainty is running high. The seemingly unpredictable U.S. president, who antagonized friends and foes, is escalating the long-simmering confrontation with North Korea, has dropped the largest non-nuclear bomb in Afghanistan, and launched a missile strike on Syria for its alleged use of chemical weapons. European politics were perceived to be a grave risk. Chinese capital controls may have encouraged some interest in crypto-currencies as a means to circumvent the restrictions. The recent cyber-attacked demanded Bitcoins as payment (and some reports suggested at least $80k of bitcoins were paid). Also, recently demand from Japan followed the inclusion of the Bitcoin under the country's regulatory framework ...

The rising price for crypto-currencies and new interest does not alter our assessment. These are not currencies in any meaningful sense. To the extent that some retailers accept them is a bit of a novelty and marketing fluke. Some of the larger businesses, like Virgin, who previously indicated a willingness to accept Bitcoins as payment, reportedly convert such payments into hard currencies. It is a gimmick, not confirmation of its currency status.

Leaving aside the questions of the origin of money, money, under conditions of modernity facilitates exchange, and is used to pay taxes and settle debts. When crypto-currencies can be used to pay taxes, and/or are generally accepted to retire debt, then their money status needs to be reviewed. Under present condition, none of the functions of money are met by crypto-currencies. They are hardly used as a means of payment. They are poor stores of value. They are not units of account.

People can still make and lose money trading them ..."


Among emerging market currencies today, the South African rand is the big winner, up 1.2% against the U.S. dollar. The Argentine peso is stronger by 0.9%. Among weakening currencies, the Indian rupee tops the list, off by 0.5% against the greenback. The euro is fractionally weaker at 1.12 against the dollar today. So far this year, the Polish zloty has strengthened the most among emerging market currencies, up nearly 12%, and the Russian ruble is stronger by more than 9%. Few EM currencies are significantly weaker, though the struggling Turkish lira tops the list with a 1% decline against the dollar.

Currency isn't always a harbinger of equity performance: the iShares MSCI Poland Capped ETF (EPOL) is up 32% this year, while the VanEck Vectors Russia ETF (RSX) is down more than 3% on geopolitical and oil-price worries. The iShares MSCI Turkey ETF (TUR) has rallied 25% following a referendum consolidating President Recep Tayyip Erdogan's power. The Vanguard FTSE Emerging Markets ETF (VWO) is up 13.6% this year, and the iShares MSCI Emerging Markets ETF (EEM) is up 17.7%.
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Re: Is Bitcoin’s monster rally over for now?

Postby sashimaal » Thu May 25, 2017 12:32 pm

Seems like a major bubble
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Re: Is Bitcoin’s monster rally over for now?

Postby voight » Thu May 25, 2017 12:41 pm

We can both argue for and against it, but end of the day what drives bitcoin higher is the demand that is created by many funds in particular. The problem is when more people wants it, its likelt to become a way of exchange, then a protest, then a law, etc..I remember a classic example somebody told me.

Civil Engineers - They build bridges and buildings

Financial Enginners - They build speculation

only time will tell where this will end also what new things will come. In a world where we are moving towards a paperless socity, why not find an alternative to get rid of it completely apart from the current alternatives.

:ympeace:
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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Thu May 25, 2017 1:17 pm

voight wrote:We can both argue for and against it, but end of the day what drives bitcoin higher is the demand that is created by many funds in particular. The problem is when more people wants it, its likelt to become a way of exchange, then a protest, then a law, etc..I remember a classic example somebody told me.

Civil Engineers - They build bridges and buildings

Financial Enginners - They build speculation

only time will tell where this will end also what new things will come. In a world where we are moving towards a paperless socity, why not find an alternative to get rid of it completely apart from the current alternatives.

:ympeace:


You must get Higher ratings for this quote. ^:)^

Yes one way traffic isn't that healthy.

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Re: Is Bitcoin’s monster rally over for now?

Postby voight » Wed May 31, 2017 1:23 pm

Rep. Rice introduces bill to examine use of virtual currencies for terrorist activities

U.S. Rep. Kathleen Rice (D-NY) introduced legislation that directs the Department of Homeland Security (DHS) to conduct a threat assessment regarding the use of virtual currencies, such as Bitcoin, to carry out or support terrorist activities.

The Homeland Security Assessment of Terrorists’ Use of Virtual Currencies Act (H.R. 2433) comes days after the WannaCry cyberattack infected more than 200,000 computers around the world with ransomware – software that seizes a computer’s data and demands a ransom payment in Bitcoin in exchange for the data’s return.

“Last week’s unprecedented ransomware attack demonstrated how rapidly cyber-threats are evolving and how urgently governments and private companies must evolve to protect themselves,” Rice said. “Research suggests that terrorists’ use of virtual currencies has been limited so far, but with groups like ISIS becoming more technologically sophisticated and virtual currencies becoming more accessible, the table is set for this threat to grow significantly in a very short time. We need to confront this threat immediately, and the first step is to fully assess and understand it.”

A recent report by the Center for a New American Security examines the potential threat of virtual currencies being used on a larger scale to finance terrorist activities and support terrorist organizations. To combat this threat, the report recommends that policymakers and intelligence and oversight officials take steps to better understand and more closely monitor the evolving threat.

Rice’s bill requires the Under Secretary for Intelligence and Analysis of the Department of Homeland Security, in coordination with appropriate federal partners, to develop and disseminate a threat assessment regarding the actual and potential threat posed by individuals using virtual currency to carry out terrorist activities and/or provide support or resources to a Foreign Terrorist Organization.

The threat assessment must be completed within 120 days of the bill’s enactment, and will be shared with state, local and tribal law enforcement officials, including officials that operate within state and major urban area fusion centers through the DHS State, Local and Regional Fusion Center Initiative.

US_Congress-2017-HB2433-Introduced.pdf
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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Wed Jun 07, 2017 9:28 am

can someone illustrate how to trade with bitcoin? Anyone doing this in the forum?
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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Wed Jun 07, 2017 1:51 pm

topcat wrote:can someone illustrate how to trade with bitcoin? Anyone doing this in the forum?



Top cat, It's not good idea if you are base on Sri Lanka, because I'm not sure whether it's legal over there. Also Bitcoin is on Panic mode these days. People invested 3-10$ few years back. Its around 2750$+ now.
Expected to go up to 5000$ are you willing to take that risk..? or take risk on CSE :))

Yes I did , I was lucky still hold in my wallet 10% (about 50) Country I lived and today I live does not have any restrictions.

I believe until forex trading legalized you are not allowed to do it. Sorry to say Topcat Dont get into these type of stuff.( but always there's a other way to do trading forex or bitcoin) ;)
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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Wed Jun 07, 2017 1:55 pm

Investor from 1985 wrote:
topcat wrote:can someone illustrate how to trade with bitcoin? Anyone doing this in the forum?



Top cat, It's not good idea if you are base on Sri Lanka, because I'm not sure whether it's legal over there. Also Bitcoin is on Panic mode these days. People invested 3-10$ few years back. Its around 2750$+ now.
Expected to go up to 5000$ are you willing to take that risk..? or take risk on CSE :))

Yes I did , I was lucky still hold in my wallet 10% (about 50) Country I lived and today I live does not have any restrictions.

I believe until forex trading legalized you are not allowed to do it. Sorry to say Topcat Dont get into these typye of stuff.( but always there's a other way to do trading forex or bitcoin) ;)

Thank IF. Actually I am waiting to see your answer. I just want to try it with some little money. which I can afford to loose. Can you give some links for learning about these and how can I buy cryptocurrency from sri lanka?
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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Wed Jun 07, 2017 2:02 pm

That's what I said, discussing these things in forum may be .....? :-\
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Re: Is Bitcoin’s monster rally over for now?

Postby voight » Wed Jun 07, 2017 2:14 pm

No tree grows to the sky :-?

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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Wed Jun 07, 2017 2:17 pm

thanks voight. Are you in sri lanka? you doing trading??
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Re: Is Bitcoin’s monster rally over for now?

Postby voight » Wed Jun 07, 2017 2:32 pm

I am not TC and I am not doing trading simply coz I dont have anything extra that if burnt I am happy with :-s

Also please note that Crypto currencies are heated up since last year and part of that is related to China's currency is coming under stress for a while and investors are moving their money to crypto currencies.

However I am interested in studying this in detail because I believe there will be some sort of crypto currency / virtual currency will eventually takeover paper currency. If I find any good material that explains this from Zero I'l share it :-bd

If you want to invest now anyway all I can say is "Good Luck :D " and "Brace for Impact :ar! "
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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Wed Jun 07, 2017 2:54 pm

thnks voight
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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Thu Jun 08, 2017 8:35 am

Voight many are recommending Ethereum for investing as bitcoin has appreciated lot. Wht u think?
I want to buy and keep some time at least 6 months
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Re: Is Bitcoin’s monster rally over for now?

Postby voight » Thu Jun 08, 2017 11:36 am

I am still learning this TC, but so far as to my knowledge Ethereum is best. Make sure you go through a reputable place to trade because some shops close after few months imo also has no proper security. Since cryptocurrency is decentralised if your wallet gets hacked or stolen , its done. you cant complain to anybody, i mean nobody, its lost forever. I think if you are in Australia or Singapore you can go with Coinbase. Not sure whether they trade in lot of coin types.

Also try a few emerging crypto currencies as well, because those are cheap right now (with only the money you can burn and be happy about it)

Litecoin is also seen as a good alternative for bitcoin. Many analysts believe that if bitcoin fails, Litecoin will be a goood backup. Also Ethreum classic also an option. It differes from primary ethereum based on security features.

Its no harm to take a risk if you can on this (with only the money you can burn and be happy about it). Imagine if lot of countries started exchanges for this these will be skyrocketed in a matter of no time. There are lot of substitutes now for bitcoin. Its now a game of security, value addition and acceptability.
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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Thu Jun 08, 2017 1:26 pm

https://www.youtube.com/watch?v=kZe1pl66vGg

Ones in there's no way out, like doing drugs.( addiction) :!! to take huge risk ....

In INDIA & CHINA its spreading like viral infection ... :ympray:
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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Thu Jun 08, 2017 1:54 pm

Thanx voight and IF. I still dont knw how to buy these in sri lanka. I heard when we bought, we can save it in our desktop.
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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Thu Jun 08, 2017 2:03 pm

topcat wrote:Thanx voight and IF. I still dont knw how to buy these in sri lanka. I heard when we bought, we can save it in our desktop.


Visiting trading floor regularly will solve your problems I guess ..... ;)
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Re: Is Bitcoin’s monster rally over for now?

Postby sashimaal » Fri Jun 09, 2017 4:10 pm





Pls study well as these are in risky territory now
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Re: Is Bitcoin’s monster rally over for now?

Postby topcat » Fri Jun 09, 2017 4:46 pm

Thanks sash. But he didnt explain how to buy in sri lanka. Do you have any contact no of him?
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Re: Is Bitcoin’s monster rally over for now?

Postby sashimaal » Fri Jun 09, 2017 5:03 pm

Some of his details were in the youtube page neda.
http://www.dilshan.me/
It has FB details, etc.

Anyway, be careful and invest a very small amount (only) till you get used to it. Later also , BE CAREFUL and don't put lot of money.

Disclaimer: I have never bought / traded any Cryptocurrency todate (directly or indirectly).


topcat wrote:Thanks sash. But he didnt explain how to buy in sri lanka. Do you have any contact no of him?
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Re: Is Bitcoin’s monster rally over for now?

Postby sashimaal » Sun Jun 11, 2017 10:32 pm

@steve?hanke: Foolish amateurs are entering already inflated #Bitcoin market. Fuel to the fire. #Bitcoin will go down in flames. https://t.co/xn32YMqQCH
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Re: Is Bitcoin’s monster rally over for now?

Postby Investor from 1985 » Tue Jun 13, 2017 11:40 am

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