€100 of Bitcoin in 2010 = €70m today

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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

I haven’t looked at coin stats on my phone for over 48 hours. I have been watching the exchanges and CMC so am aware of what the numbers would look like, just can’t bring myself to look. :P

This made me feel better though.

https://ripple.com/insights/national-ba ... -payments/
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

So Santander, the 18th largest bank in the world is rolling out a Ripple powered (Xcurrent) mobile app in Q1 with apple pay in four countries providing cross boarder settlements in 40 seconds at 30% less cost to 14M consumers. This isn’t a trial, this is actual adoption happening now, not years down the track.

So what are the other banks using technology that takes 3+ days at greater cost thinking? They are paying attention.

XRP is not currently being used but at what point does taking that 40second transaction and turning it into a 5 second transaction at a further reduction of cost become further market advantage?
What takes 3 days now ?
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:
So Santander, the 18th largest bank in the world is rolling out a Ripple powered (Xcurrent) mobile app in Q1 with apple pay in four countries providing cross boarder settlements in 40 seconds at 30% less cost to 14M consumers. This isn’t a trial, this is actual adoption happening now, not years down the track.

So what are the other banks using technology that takes 3+ days at greater cost thinking? They are paying attention.

XRP is not currently being used but at what point does taking that 40second transaction and turning it into a 5 second transaction at a further reduction of cost become further market advantage?
What takes 3 days now ?
Plenty of examples of international transfers taking that long, I recently sent one from Aus to NZ.

What is doing instant payments now and at what cost?
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

Harveys wrote:
bimboman wrote:
So Santander, the 18th largest bank in the world is rolling out a Ripple powered (Xcurrent) mobile app in Q1 with apple pay in four countries providing cross boarder settlements in 40 seconds at 30% less cost to 14M consumers. This isn’t a trial, this is actual adoption happening now, not years down the track.

So what are the other banks using technology that takes 3+ days at greater cost thinking? They are paying attention.

XRP is not currently being used but at what point does taking that 40second transaction and turning it into a 5 second transaction at a further reduction of cost become further market advantage?
What takes 3 days now ?
Plenty of examples of international transfers taking that long, I recently sent one from Aus to NZ.

What is doing instant payments now and at what cost?
Does the Santander app have an FX component ? All ripple are doing is replacing Swift messaging within the instruction chain.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:
Harveys wrote:
bimboman wrote:
So Santander, the 18th largest bank in the world is rolling out a Ripple powered (Xcurrent) mobile app in Q1 with apple pay in four countries providing cross boarder settlements in 40 seconds at 30% less cost to 14M consumers. This isn’t a trial, this is actual adoption happening now, not years down the track.

So what are the other banks using technology that takes 3+ days at greater cost thinking? They are paying attention.

XRP is not currently being used but at what point does taking that 40second transaction and turning it into a 5 second transaction at a further reduction of cost become further market advantage?
What takes 3 days now ?
Plenty of examples of international transfers taking that long, I recently sent one from Aus to NZ.

What is doing instant payments now and at what cost?
Does the Santander app have an FX component ? All ripple are doing is replacing Swift messaging within the instruction chain.

https://www.youtube.com/watch?v=bU79HunxJp8


https://ripple.com/solutions/process-payments/

https://ripple.com/files/ripple_solutions_guide.pdf

https://ripple.com/solutions/source-liquidity/
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Sorry, posted before finishing.

If all Ripple was doing is what you state, why would swift not adapt there systems negating ripples need to be used?
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:Sorry, posted before finishing.

If all Ripple was doing is what you state, why would swift not adapt there systems negating ripples need to be used?
They're trying to by creating GPII (https://www.swift.com/our-solutions/glo ... /swift-gpi) but they're screwed long term in my opinion. It can't compete with Ripple which is new tech.
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

Harveys wrote:Sorry, posted before finishing.

If all Ripple was doing is what you state, why would swift not adapt there systems negating ripples need to be used?

No idea, you do know the actual money if staying in one currency doesn't move cross border and the claims are a bit more than they actually doing.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

For this to happen XRP would have to be very very stable in price. It also means banks would have to own XRP in varying amounts and that would need regulatory approval and interesting approaches to the valuation of XRP.

I'm not doubting the tech, swift will be vulnerable etc. But even Ripples success doesn't mean XRP has any value.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:
For this to happen XRP would have to be very very stable in price. It also means banks would have to own XRP in varying amounts and that would need regulatory approval and interesting approaches to the valuation of XRP.

Yes, XRP is released from escrow systematically for this purpose, Jan 1 Billion was released and 90 Million returned.
To provide additional predictability to the XRP supply, Ripple has locked 55 billion XRP (55% of the total possible supply) into a series of escrows. These escrows are on the ledger itself and the ledger mechanics, enforced by consensus, control the release of the XRP.
I'm not doubting the tech, swift will be vulnerable etc. But even Ripples success doesn't mean XRP has any value.

That is true but it will at the very least drive speculation in the short to mid term.

Ripple is going after the international cross currency transaction market. Specifically, instant transactions at virtually no cost using XRapid. Yes the volatility is an issue as is the perception of the crypto market. Ripple are trying to position themselves to be the one who bridges the two worlds eventually and they are doing a great job so far. Could xcurrent be as far as it goes leaving XRP worthless, yes however xrapid is in working trials now with FI's, successful reported trials. It is also just an upgrade to the existing xcurrent programs that will be in place already. That is not taking into account other applicable uses that may arise in the future.

A sure thing? No, but in the world of crypto I think it’s worth a punt. Banks will always be there, who will position themselves to work with them first with the technology?

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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?
Unsure what has been spent.

Competing services as in other crypto players going after the same market? No one is remotely close to ripples level of development in that space.

Yes, 100 Billion. 39 in circulation and 55 in escrow. 1 billion is released from escrow each month for ripple to sell to institutional investors, it does not go to open market and goes back to escrow if unused.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

Harveys wrote:
bimboman wrote:How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?
Unsure what has been spent.

Competing services as in other crypto players going after the same market? No one is remotely close to ripples level of development in that space.

Yes, 100 Billion. 39 in circulation and 55 in escrow. 1 billion is released from escrow each month for ripple to sell to institutional investors, it does not go to open market and goes back to escrow if unused.

Are they selling any portion of x current with the coins ? Does the market think they'll make the coins central to the eventual tech ?

You know the issue lies with how the users of the tech (banks) value and hedge the volatility of the coins if they HAVE to hold them, they can't be subject to open exchange and be useful .
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

I am across this to the degree that I have been doing bits a pieces of research over the last month on line and reading forums, I’m sure there are more knowledgeable posters on the subject. I hold XRP so look at through that lenses as well.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

Harveys wrote:I am across this to the degree that I have been doing bits a pieces of research over the last month on line and reading forums, I’m sure there are more knowledgeable posters on the subject. I hold XRP so look at through that lenses as well.

I'm looking for the issue that if it becomes a standard payment tech (like swift ) then the XRP has to become a standard price or worthless as banks and the payment system would be hostage to fortune.

Plus they'll have regulatory issues galore in he holding of an asset.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:
Harveys wrote:I am across this to the degree that I have been doing bits a pieces of research over the last month on line and reading forums, I’m sure there are more knowledgeable posters on the subject. I hold XRP so look at through that lenses as well.

I'm looking for the issue that if it becomes a standard payment tech (like swift ) then the XRP has to become a standard price or worthless as banks and the payment system would be hostage to fortune.

Plus they'll have regulatory issues galore in he holding of an asset.
The world over?
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:
Harveys wrote:
bimboman wrote:How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?
Unsure what has been spent.

Competing services as in other crypto players going after the same market? No one is remotely close to ripples level of development in that space.

Yes, 100 Billion. 39 in circulation and 55 in escrow. 1 billion is released from escrow each month for ripple to sell to institutional investors, it does not go to open market and goes back to escrow if unused.

Are they selling any portion of x current with the coins ? Does the market think they'll make the coins central to the eventual tech ?

You know the issue lies with how the users of the tech (banks) value and hedge the volatility of the coins if they HAVE to hold them, they can't be subject to open exchange and be useful .
100 billion is a huge number, BTC has 16.8m. The banks holding restricts total circulation which is needed. I have heard that a higher stable number would work best for the application. There is burn off so it is deflationary. Ripple Burn For every transaction on the ripple network the ledger deducts 10 drops as terms of ripple it is 0.00001 of a ripple. At this calculation that is for every 100,000 transactions 1 Ripple is burned
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Seneca of the Night wrote:
Harveys wrote:
bimboman wrote:
Harveys wrote:I am across this to the degree that I have been doing bits a pieces of research over the last month on line and reading forums, I’m sure there are more knowledgeable posters on the subject. I hold XRP so look at through that lenses as well.

I'm looking for the issue that if it becomes a standard payment tech (like swift ) then the XRP has to become a standard price or worthless as banks and the payment system would be hostage to fortune.

Plus they'll have regulatory issues galore in he holding of an asset.
The world over?
Basel.
So including Japan, interesting to see how it plays out. I'm going to look into that more.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

Harveys wrote:
bimboman wrote:
Harveys wrote:
bimboman wrote:How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?
Unsure what has been spent.

Competing services as in other crypto players going after the same market? No one is remotely close to ripples level of development in that space.

Yes, 100 Billion. 39 in circulation and 55 in escrow. 1 billion is released from escrow each month for ripple to sell to institutional investors, it does not go to open market and goes back to escrow if unused.

Are they selling any portion of x current with the coins ? Does the market think they'll make the coins central to the eventual tech ?

You know the issue lies with how the users of the tech (banks) value and hedge the volatility of the coins if they HAVE to hold them, they can't be subject to open exchange and be useful .
100 billion is a huge number, BTC has 16.8m. The banks holding restricts total circulation which is needed. I have heard that a higher stable number would work best for the application. There is burn off so it is deflationary. Ripple Burn For every transaction on the ripple network the ledger deducts 10 drops as terms of ripple it is 0.00001 of a ripple. At this calculation that is for every 100,000 transactions 1 Ripple is burned

So burns not the issue. 100 billion USD to corner the banking exchange market would be interesting though.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

bimboman wrote:
Harveys wrote:
bimboman wrote:
Harveys wrote:
bimboman wrote:How much have ripple spent ? Will there be competing services ?

Does,XRP have limited numbers like Bitcoin ? When you say "release" I'm assuming they're differant from mined coins.?
Unsure what has been spent.

Competing services as in other crypto players going after the same market? No one is remotely close to ripples level of development in that space.

Yes, 100 Billion. 39 in circulation and 55 in escrow. 1 billion is released from escrow each month for ripple to sell to institutional investors, it does not go to open market and goes back to escrow if unused.

Are they selling any portion of x current with the coins ? Does the market think they'll make the coins central to the eventual tech ?

You know the issue lies with how the users of the tech (banks) value and hedge the volatility of the coins if they HAVE to hold them, they can't be subject to open exchange and be useful .
100 billion is a huge number, BTC has 16.8m. The banks holding restricts total circulation which is needed. I have heard that a higher stable number would work best for the application. There is burn off so it is deflationary. Ripple Burn For every transaction on the ripple network the ledger deducts 10 drops as terms of ripple it is 0.00001 of a ripple. At this calculation that is for every 100,000 transactions 1 Ripple is burned

So burns not the issue. 100 billion USD to corner the banking exchange market would be interesting though.
If it was valued at 1USD. Value would be higher and devisable by 000000.
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

It's difficult to value ripple if they become intrinsic as the regulators won't allow it.
Bowens
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Bowens »

sorCrer wrote:My 7200 - 7500 may well be tested here.
Close to 7000 now
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Leinster in London »

Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Bowens »

Leinster in London wrote:
Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

Bowens wrote:
Leinster in London wrote:
Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.
You don't think the pink sheets are gonna save the day then?
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Were there any stories about celebs making millions from cyrptos for selling a souvenir? That could be a game changer, or at least sucker a few more people into buying.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Bowens »

paddyor wrote:
Bowens wrote:
Leinster in London wrote:
Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.
You don't think the pink sheets are gonna save the day then?
There's definitely some pump and dump going on here.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

How much has the US Stock market lost in the last week?
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Seneca of the Night wrote:
sorCrer wrote:How much has the US Stock market lost in the last week?
Good grief.
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Seneca of the Night wrote:
sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:How much has the US Stock market lost in the last week?
Good grief.
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.
You are a complete clown.
You don't even know me. :lol:
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:How much has the US Stock market lost in the last week?
Good grief.
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.

The S&P is down 3.28% on the week. Bitcoin is down 33% , there's no risk comparison
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

Bitcoin and the more general cryptomarket have gone through numerous crashes, with each one joyously declared the death of Bitcoin by various nocoiners, and a subsequent all time high for BTC following that. Is there any reason in particular that this is going to be the crash to end all crashes?
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:How much has the US Stock market lost in the last week?
Good grief.
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.

The S&P is down 3.28% on the week. Bitcoin is down 33% , there's no risk comparison
Of course there is no risk comparison. It's about $1 trillion? 2 times the size of the entire crypto market? Anyway, regardless, everyone has been expecting this since the massive surge late November.
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

goeagles wrote:Bitcoin and the more general cryptomarket have gone through numerous crashes, with each one joyously declared the death of Bitcoin by various nocoiners, and a subsequent all time high for BTC following that. Is there any reason in particular that this is going to be the crash to end all crashes?

When would you say 60% losses had occurred 2013 ? Why did that happen ?
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

sorCrer wrote:
bimboman wrote:
sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:How much has the US Stock market lost in the last week?
Good grief.
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.

The S&P is down 3.28% on the week. Bitcoin is down 33% , there's no risk comparison
Of course there is no risk comparison. It's about $1 trillion? 2 times the size of the entire crypto market? Anyway, regardless, everyone has been expecting this since the massive surge late November.

So you sold short ?
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

bimboman wrote:
goeagles wrote:Bitcoin and the more general cryptomarket have gone through numerous crashes, with each one joyously declared the death of Bitcoin by various nocoiners, and a subsequent all time high for BTC following that. Is there any reason in particular that this is going to be the crash to end all crashes?

When would you say 60% losses had occurred 2013 ? Why did that happen ?
No idea what you're getting at here.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
sorCrer wrote:
bimboman wrote:
sorCrer wrote:
Seneca of the Night wrote:
Good grief.
It's a serious question? You seem to forget that I've been involved in cryptocurrencies for 6 years this year. I've been through several major crashes. The technology is here to stay.

The S&P is down 3.28% on the week. Bitcoin is down 33% , there's no risk comparison
Of course there is no risk comparison. It's about $1 trillion? 2 times the size of the entire crypto market? Anyway, regardless, everyone has been expecting this since the massive surge late November.

So you sold short ?
What I've been doing is minute trading selling on RSI crossovers (sometimes preempting crossovers with a guess confident the market is falling) and following this with a trailing stop buy at a couple of $. Normally around the 1BTC mark per trade so make about 0.7% - 1%.

The end game is not to have more $USD it's to have more BTC (or other major market cap crypto)
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Seneca of the Night wrote:
bimboman wrote:
So you sold short ?
More like stopped short by Frank Costanza.
:lol: You must really be hurting a bit SON?
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Re: €100 of Bitcoin in 2010 = €70m today

Post by TranceNRG »

Bowens wrote:
Leinster in London wrote:
Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.
Nah I'm alright, I only spent about 2,3 grand on Bitcoins, Ethereum and Ripple. If they collapse it's not the end of the world for me as its only about 2% of my investments though I'd be annoyed naturally. And no I didn't bottow money to invest in Cryptos.
I do feel for loads of people who spent a lot more including a couple of my colleagues who have invested heavily in them.
Having said that I'm not sure this is the end of these coins. I'll just hold them and see what happens.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

TranceNRG wrote:
Bowens wrote:
Leinster in London wrote:
Seneca of the Night wrote:I've done some sophisticated chart work. It's going down to $500.

The print edition of the Telegraph this morning lead with a story about Lloyds putting the kybosh on folk buying cryptos on their credit cards.
Instinctively the damage has already been done. They've more than likely just realised that between the middle of Dec and mid Jan a couple of hundred thousand people maxed their credit card with BTC purchase. Maybe a couple of billion spent with their customers exposed to approx £1bn losses.
I think poor TranceNRG is one of them. The people encouraging others to invest in this recently are scum.
Nah I'm alright, I only spent about 2,3 grand on Bitcoins, Ethereum and Ripple. If they collapse it's not the end of the world for me as its only about 2% of my investments though I'd be annoyed naturally. And no I didn't bottow money to invest in Cryptos.
I do feel for loads of people who spent a lot more including a couple of my colleagues who have invested heavily in them.
Having said that I'm not sure this is the end of these coins. I'll just hold them and see what happens.
:thumbup:
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