Have all the FX speculators switched to Bitcoin? | Metals Mine

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Have all the FX speculators switched to Bitcoin?

  • #1
  • First Post: Edited 7:04pm Oct 21, 2017 3:53pm | Edited 7:04pm
I am a FX trader to the bone, but have the new generation of traders switched onto the Bitcoin wagon. It seems interesting.....could it be the biggest speculative disaster since the tulip bubble? Any thoughts?
  • #2
  • Oct 21, 2017 6:17pm Oct 21, 2017 6:17pm
I believe in the block-chain behind bitcoin, but it is a disruptive tech. The central bankers (syndicate) will not allow a disruption to the current fiat system by allowing a deflationary and uncontroled competing currency to supplant it. It would be very easy to crush bitcoin as a currency, and I see two ways of this happening. One, you regulate it and risk it becoming more popular than ever. Or two, you fuel a massive speculative bubble by buying up all the floating supply (with fiat, oh the irony) and then when the time is right you bring the market to its knees by unloading supply to create panics, accumulate more during sell-offs, and eventually own enough to whipsaw the market into the mindset that crypto is good for it's block-chain but not a currency, and furthermore it's a high-risk speculative investment and should be treated as such. I base that on how the central bankers first conspired to create banking panics in America to convince the public they needed a central bank in the first place. This is the 21st century crypto version of that.
  • #3
  • Oct 22, 2017 12:41am Oct 22, 2017 12:41am
Quoting Nicholishen
I believe in the block-chain behind bitcoin, but it is a disruptive tech. The central bankers (syndicate) will not allow a disruption to the current fiat system by allowing a deflationary and uncontroled competing currency to supplant it. It would be very easy to crush bitcoin as a currency, and I see two ways of this happening. One, you regulate it and risk it becoming more popular than ever. Or two, you fuel a massive speculative bubble by buying up all the floating supply (with fiat, oh the irony) and then when the time is right you bring the...
and when they are ready >>>>>>>>>>>>>>>>>>> and it will happen >>>>>>> disaster for the little trader
people leave, but this thread will go on for ever
  • #4
  • Oct 22, 2017 1:49am Oct 22, 2017 1:49am
Quoting Aussi
{quote} and when they are ready >>>>>>>>>>>>>>>>>>> and it will happen >>>>>>> disaster for the little trader
Yeah I'm actually worried for the people who are putting their entire savings into bitcoin because "it will one day be worth $1 per satoshi". They're not traders, their just hoping to have a store of wealth like their great grandparents did with physical gold. They're going to get crushed.
  • #5
  • Oct 22, 2017 1:53am Oct 22, 2017 1:53am
Quoting Nicholishen
{quote} Yeah I'm actually worried for the people who are putting their entire savings into bitcoin because "it will one day be worth $1 per satoshi". They're not traders, their just hoping to have a store of wealth like their great grandparents did with physical gold. They're going to get crushed.
I know almost nothing about Bitcoin because I always assumed it would not have a future. I still don't believe it will have a future unless it is adopted by countries like the US, UK, etc. But I'm writing because of the Satoshi $1 comment. Is that something Satoshi explicitly stated or is it implied in another way?
Here's Tom with the weather.
  • #6
  • Oct 22, 2017 1:59am Oct 22, 2017 1:59am
Its absolute madness and will end in disaster. I wouldn't go anywhere near it.
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #7
  • Oct 22, 2017 2:02am Oct 22, 2017 2:02am
Quoting shinny
Its absolute madness and will end in disaster. I wouldn't go anywhere near it.
I think TV shows like Mr. Robot popularize it... As we all know, "never chase a trend." I'm not getting anywhere near it.
Here's Tom with the weather.
  • #8
  • Oct 22, 2017 2:13am Oct 22, 2017 2:13am
Quoting OHLC
{quote} I think TV shows like Mr. Robot popularize it... As we all know, "never chase a trend." I'm not getting anywhere near it.
Its not a trend yet.
Its at very early stages .. Most of people doesnt even know how bitcoin works or a digital wallet.

Competition to be best digital currency is not over.

Quantum computing is knocking the door..

Big institutions just started to get in to crypto...

It will become a trend when you find bitcoin on all FX brokers.

HODL
Take it easy.
  • #9
  • Oct 22, 2017 2:15am Oct 22, 2017 2:15am
Quoting OHLC
{quote} I know almost nothing about Bitcoin because I always assumed it would not have a future. I still don't believe it will have a future unless it is adopted by countries like the US, UK, etc. But I'm writing because of the Satoshi $1 comment. Is that something Satoshi explicitly stated or is it implied in another way?
A "satoshi" is 1/1,000,000th of a bitcoin. Some believe that one day 1 BTC will be worth $1M
  • #10
  • Oct 22, 2017 2:32am Oct 22, 2017 2:32am
Quoting Quants
{quote} Its not a trend yet. Its at very early stages .. Most of people doesnt even know how bitcoin works or a digital wallet. Competition to be best digital currency is not over. Quantum computing is knocking the door.. Big institutions just started to get in to crypto... It will become a trend when you find bitcoin on all FX brokers. HODL
HODL, lol. This was a term created by the tech-geeks who threw their life savings into bitcoin when it was $1000 in 2013, right before it crashed and took three years to recover. Whenever I hear HODL I think of how it was once a badge of shame for making stupid financial decisions, but now it has become a popular meme for smart investors... go figure.

This is a very tradable asset, but after this most recent flash crash I was reminded that this not something you put on autopilot. By the time it takes you to send your coin from your wallet and receive 6 confirmations at an exchange - the market could have seriously shit the bed and your just fuckin' trapped, HODLing your losses.
  • #11
  • Oct 22, 2017 2:43am Oct 22, 2017 2:43am
Quoting Nicholishen
{quote} HODL, lol. This was a term created by the tech-geeks who threw their life savings into bitcoin when it was $1000 in 2013, right before it crashed and took three years to recover. Whenever I hear HODL I think of how it was once a badge of shame for making stupid financial decisions, but now it has become a popular meme for smart investors... go figure. This is a very tradable asset, but after this most recent flash crash I was reminded that this not something you put on autopilot. By the time it takes you to send your coin from your wallet...
flash crash...
One of my previous posts say invest on altcoins instead bitcoin.
Which is like investing against bitcoin.

And i said quantum TECH knocking the door so..
Take it easy.
  • #12
  • Oct 22, 2017 3:27am Oct 22, 2017 3:27am
My gameplan is to position myself to purchase some Bitcoins once it experiences its first major crash..........or possibly a 20% correction. I was wanting to exchnge my Academy Sports and Outdoors giftcard for some bitcoins. If anyone out there knows where I can pick up some bitcoins for this type of giftcard....please let me know. Cryptocurrencies appear to be the future; it has its own unique language and I want to keep up to speed with how it works before it expands and becomes even more complex. I have no interest in trading it (that would be crazy).....it would be more of a longterm investment.
  • #13
  • Oct 22, 2017 3:32am Oct 22, 2017 3:32am
Quoting Quants
{quote} flash crash... One of my previous posts say invest on altcoins instead bitcoin. Which is like investing against bitcoin. And i said quantum TECH knocking the door so..
Fair enough, but investing and trading are two very different things. I was telling my friends to invest in bitcoin years ago and now I'm telling them to pull out. I still trade it but no longer consider myself an investor.

How is quantum tech relevant to crypto currency?
  • #14
  • Oct 22, 2017 3:40am Oct 22, 2017 3:40am
Quoting Troikaone1
My gameplan is to position myself to purchase some Bitcoins once it experiences its first major crash..........or possibly a 20% correction. I was wanting to exchnge my Academy Sports and Outdoors giftcard for some bitcoins. If anyone out there knows where I can pick up some bitcoins for this type of giftcard....please let me know. Cryptocurrencies appear to be the future; it has its own unique language and I want to keep up to speed with how it works before it expands and becomes even more complex. I have no interest in trading it (that would be...
It's really not this mystical unicorn of a technology, it's just a way to record transactions in a decentralized ledger. It's going to be the future of personal property records, but right now it sucks to use as money in a real life currency transaction.
  • #15
  • Oct 22, 2017 4:11am Oct 22, 2017 4:11am
Quoting Nicholishen
{quote} Fair enough, but investing and trading are two very different things. I was telling my friends to invest in bitcoin years ago and now I'm telling them to pull out. I still trade it but no longer consider myself an investor. How is quantum tech relevant to crypto currency?
You have no idea whats coming and knocking the door.

Goverments did not stop the bitcoin
Hacks did not..

Now IBM , MICROSOFT , ALI BABA , GOOGLE investing on quantum tech.

Did you know quantum computers are next treat to crypto currency ? Nope.

When dust settles there will only 1-2 digital currency left that was able to resist against quantum attacks.. Bitcoin not one of them

https://www.forbes.com/sites/amycast...-long-way-off/
https://futurism.com/google-just-rev...tum-computers/
Take it easy.
  • #16
  • Oct 22, 2017 7:15am Oct 22, 2017 7:15am
I have invested a fraction of bitcoin worth $60 since March in one of the reliable company and earning an average of 1% per trading day. An now with the increase of Bitcoin value my investment now worth 300% increase. So if this increase continues, I can accomulate 1 bitcoin after a year, 4 bitcoins after 2 years, 8 bitcoins after 3 years, etc. If Bitcoin reach $1M as some experts say, thats a lot of money
  • #17
  • Oct 22, 2017 9:04am Oct 22, 2017 9:04am
Quoting mario777
I have invested a fraction of bitcoin worth $60 since March in one of the reliable company and earning an average of 1% per trading day. An now with the increase of Bitcoin value my investment now worth 300% increase. So if this increase continues, I can accomulate 1 bitcoin after a year, 4 bitcoins after 2 years, 8 bitcoins after 3 years, etc. If Bitcoin reach $1M as some experts say, thats a lot of money
So you do know that a bitcoin can never grow to be more bitcoin, right? If you own 1 BTC and the price of BTC goes to a quadrillion USD then you still only own 1 BTC
  • #18
  • Edited 10:07am Oct 22, 2017 9:15am | Edited 10:07am
Quoting Quants
{quote} You have no idea whats coming and knocking the door. Goverments did not stop the bitcoin Hacks did not.. Now IBM , MICROSOFT , ALI BABA , GOOGLE investing on quantum tech. Did you know quantum computers are next treat to crypto currency ? Nope. When dust settles there will only 1-2 digital currency left that was able to resist against quantum attacks.. Bitcoin not one of them https://www.forbes.com/sites/amycast...-long-way-off/ https://futurism.com/google-just-rev...tum-computers/...
That still doesn't explain any link between your argument on why you should invest in block-chains because of quantum tech. My argument is that only tech geeks care about the tech aspects. The rest of the world with the big money don't care. They care about market stability. I watched bitfinex BTC price jump on very low volume which that tells me that floating supply is dwindling (could be many possible reasons) but highly siggestive that market makers or big player(s) are pulling supply so the market can float up. There's an iceberg out there and long-term crypto investors are just ships in the night.
  • #19
  • Oct 22, 2017 11:12am Oct 22, 2017 11:12am
The altcoins are here to stay, the value is a different story. Already used on daily basis in Japan and other places of the world and I am nto talking only about bitcoin (you can order food if you haven't realised yet).
The problem is that is a bubble that evelntualy will blow one day, the tulip mania kept for 10 years.
I beleive that at one point of time we will start trade EUR/BTC, USD/BTC like any other currency pair. Now as about investing on it (not even a thought about trading !), not more then 10% of total capital and deal with it as a very high risk investement.
As for the people that sell their homes to buy cryptos ..... it's the same story that will end up with a lot of tears as always ...
  • #20
  • Oct 22, 2017 2:11pm Oct 22, 2017 2:11pm
Quoting Yorgos
The altcoins are here to stay, the value is a different story. Already used on daily basis in Japan and other places of the world and I am nto talking only about bitcoin (you can order food if you haven't realised yet). The problem is that is a bubble that evelntualy will blow one day, the tulip mania kept for 10 years. I beleive that at one point of time we will start trade EUR/BTC, USD/BTC like any other currency pair. Now as about investing on it (not even a thought about trading !), not more then 10% of total capital and deal with it as a very...
Yorgos....can you differentiate between altcoins and bitcoins?
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