Who is into Crypto ?

[silverdale]

The thing I don't get with crypto is, if more and more is mined so there's more of it how can it go up in value ?.
Theres a rule when it comes to buying and selling that the rarer an item is the more it's worth.
Then if everyone's got it and it keeps going up in value at some point it has to nose dive or crash badly for some to make money.
It's all seems to be control by mass hysteria were a top guy like say an Elon Musk has huge power of its value.

If he suddenly sold loads of his crypto it would nose dive. People in power seem to me to have the control and social media to its value.

Like the youtuber in the first video, people of influence. I hear so much of how some young kid has made millions then only the other night so guy topped himself after losing millions.

To me it's gambling and you rely on one of many tipsters. I don't see the difference. When I back the horses or football I use form so I can't blame anyone else.

I keep saying I'll take a dabble in crypto but it doesn't make sense same as NFT's buying digitally signed cartoons.

I'll put up £100 and challenge anyone in here to x100 my £100 and if they do they can have half, if it loses you lose nothing

 

[dar1437]

@silverdale i think there's only so many available to mine?

I'm interested in these Whales (organised crime??) buying up shedloads. Maybe they have the power to influence a rise at their command?

 

[silverdale]

@silverdale i think there's only so many available to mine?

I'm interested in these Whales (organised crime??) buying up shedloads. Maybe they have the power to influence a rise at their command?

see that bit I don't get, by who's reckoning ? as the original founders who dumped it all are still unknown, loads of rumours but no true identity. Its built on rumours and people of power and following trends of those in power, they call governments and monetary systems to me its no different run by unknowns and people above, that ring a bell ?.
Someone started this and someone still controls it. Loads have followed suit.

For someone to make money from the sale of something there has to be a loser it's impossible not to.
It has to regular crash then it's snapped up by huge setups for far less then it goes up.

 

[janobi]

see that bit I don't get, by who's reckoning ? as the original founders who dumped it all are still unknown, loads of rumours but no true identity. Its built on rumours and people of power and following trends of those in power, they call governments and monetary systems to me its no different run by unknowns and people above, that ring a bell ?.
Someone started this and someone still controls it. Loads have followed suit.

For someone to make money from the sale of something there has to be a loser it's impossible not to.
It has to regular crash then it's snapped up by huge setups for far less then it goes up.

It's not controlled, it's decentralised, so there is no overarching power of control over it. It's not run by the BoE for instance, each person has the same rights as any other. You can move the currency around within minutes, and for low fees. You can spend it digitally or physically, all transactions are logged, and can be verified and tracked.

You said earlier that the rarer something is, the more valuable it is. In 95% of things, that's absolutely true, but not always. There are enough diamonds on this earth for everyone to have a nice sized one. But the supply is kept low by the diamond companies to ensure demand is high, this way they can charge a premium for them. Supply and demand is key here.

So, as the supply of bitcoin goes down via mining (There is a finite amount that can be mined), then the demand will go up, this will raise the prices of bitcoin. Currently there are lots being taken out of circulation as institutes, banks, investors etc are buying up the supply. As the supply has gone down, and the demand has gone up, guess what happens? That's right the price/value goes up.

The more coins that are taken out of circulation, then the higher the price will rise as people will see it as having tangible value, which in turn will drive the demand up, and the supply down. Therefore making the price go up again.

The last two sentences don't make much sense.

To sell something doesn't mean there has to be a loser. What an odd thing to say, who is losing? You buy you sell. You buy low, sell high, or you produce something, pass it to a wholesaler who pays a small premium, then they sell it to retailers, who also pay a small premium, then they sell it to consumers, who also pay a small premium. The more you can buy in bulk the cheaper the price (Economies of scale), there are no losers here.

@dar1437 - Those whales may well be an exchange or something, moving coins around cold wallets, or buying up additional stock.

 

[dar1437]

To sell something doesn't mean there has to be a loser. What an odd thing to say, who is losing? You buy you sell. You buy low, sell high, or you produce something, pass it to a wholesaler who pays a small premium, then they sell it to retailers, who also pay a small premium, then they sell it to consumers, who also pay a small premium. The more you can buy in bulk the cheaper the price (Economies of scale), there are no losers here.

I suppose that depends on how you look at it. If someone is paying over the odds for something, they're sort of losing out to the people who bought it low.

@janobi if these Whales are buying up now, do you think they're ready to work their magic (influence) to set it flying upwards again?
Could now be a good time to get involved? Lol

 

[avid]

Lots of crypto currency’s are Ponzi schemes and people make lots of money from them and lots loose money. They are called shit coins for a reason.
As for whales which there are many.
All the wallets are available to look at online and everything is transparent. You can see when they buy and sell and move coins.
You have to ask your self why a blockchain currency like BTC that was worth nothing when it began is being bought up by some of the richest and smartest investors in the world not just criminal as a lot of people believe.
Some banks have BTC on their balance sheet to offer investors and more are adopting it.
The problem with people is they don’t want to research something and learn about it.
It’s a bit like the early days of the internet when people thought it was a fad.
I believe Blockchain Technology is an emerging technology that will eventually be used by the masses.
You can look up most founders of a crypto currency and look at its tokenomics and it’s white paper.
The founder of BTC is Anonymous and I don’t think he will ever reveal his identity as it would probably be very dangerous for him.
Satoshi Nakamoto, the anonymous creator of Bitcoin, was also the first miner. It is estimated that Satoshi mined more than 22,000 blocks and received more than one million bitcoin in cumulative block rewards for his work. As a result, Satoshi is estimated to hold the largest bitcoin cache, more than 1 million BTC.

That’s like me saying the the next time you have a big win on the horses I will give you half the money towards your bet when it wins

I'll put up £100 and challenge anyone in here to x100 my £100 and if they do they can have half, if it loses you lose nothing

.

For someone to make money from the sale of something there has to be a loser it's impossible not to.
It has to regular crash then it's snapped up by huge setups for far less then it goes up.

It’s called an exchange and it happens all the time in trading on all stock exchange’s.
You have to remember that trading is run on emotions, fear and greed.
You only have to look at the S&P 500 at the beginning of 2020 when the pandemic struck and people panic sold only for it to recover several months later.
BTC 2020 went to £3400 a coin and then in 2021 hit £50000 a coin.
You will well ask but why is BTC £17000 a coin today because of the Global economy and the situation we are in at the moment and lots of markets are down right now as well.
Those that spread FUD, whether it’s true or not and people read it or hear it then feel fearful and see their investment go down panic sell because their emotions take over.
For most people who get into trading they don’t realise they’re getting into shark infested waters and they are after your blood full stop.
Crypto currencies are a lot more volatile than other market because it’s an emerging market and a very speculative one at that but this may change in the future.

 

[avid]

I suppose that depends on how you look at it. If someone is paying over the odds for something, they're sort of losing out to the people who bought it low.

@janobi if these Whales are buying up now, do you think they're ready to work their magic (influence) to set it flying upwards again?
Could now be a good time to get involved? Lol

It’s knowing when to buy and when to sell that’s the trick. That’s why people use technical analysis and statistics as all markets are run on these, plus fear and greed of course.

The whales are smart they start DCA when when an asset becomes oversold and they keep buying till it hits the bottom and start selling taking profit on the way up.
I think the bottom of BTC should be this year or early next year then the prices will start rising on the next halving in 2024.
Unless we see a Great Depression as some people believe is coming but predicting the future is something thing I doubt we will see in our lifetime.

 

[avid]

This guy is a analyst and mathematician who worked for NASA

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[avid]

Elon Musk and Tesla sued over Dogecoin ‘pyramid scheme’

 

[avid]

Crypto Fear & Greed Index - Bitcoin Sentiment

 

[avid]

Whale watching

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[dar1437]

Regarding the value of things being down to how scarce they are, they need to be in demand too. I'm sure there are many scarce things worth sweet FA.

 

[avid]

Regarding the value of things being down to how scarce they are, they need to be in demand too. I'm sure there are many scarce things worth sweet FA.

Some good points on here
Why aren't all scarce products valuable?

 

[silverdale]

Regarding the value of things being down to how scarce they are, they need to be in demand too. I'm sure there are many scarce things worth sweet FA.

Yeah true but you get my jist, I should have said when a product is saturated in the market the value definatley tends to not go up.. I just don't get it, so reminiscent of the pyramid scheme in the 80's 90's were those at the top cream it all in till they feel the need to stop. It's gambling , trading in my eyes, and greed tends to get the better of you. It's like cashout on a bet, when do you cashout ??. You always think I'll hang on a few more mins and before its all too late ,,,bump it's gone.

 

[avid]

Yeah true but you get my jist, I should have said when a product is saturated in the market the value definatley tends to not go up.. I just don't get it, so reminiscent of the pyramid scheme in the 80's 90's were those at the top cream it all in till they feel the need to stop. It's gambling , trading in my eyes, and greed tends to get the better of you. It's like cashout on a bet, when do you cashout ??. You always think I'll hang on a few more mins and before its all too late ,,,bump it's gone.

That’s why people fail they get to greedy.
Smart money sell on the way up they don’t try time the top they taking profits as an asset climbs, gradually selling their position. It’s very difficult to time the very bottom and time the very top. You have to be happy with your profit and not think about what could’ve been if you’d held on a bit longer.
All investments are a gamble.

 

[silverdale]

That’s why people fail they get to greedy.
Smart money sell on the way up they don’t try time the top they taking profits as an asset climbs, gradually selling their position. It’s very difficult to time the very bottom and time the very top. You have to be happy with your profit and not think about what could’ve been if you’d held on a bit longer.
All investments are a gamble.

But when is greedy ?, that's the million dollar question. If those in power those influencers and massive holding say, stick with it they will only grow people listen and follow until they go through the roof of floor, It's a gamble.

 

[bamber]

Bill Gates says crypto and NFTs are a sham

 

[avid]

But when is greedy ?, that's the million dollar question. If those in power those influencers and massive holding say, stick with it they will only grow people listen and follow until they go through the roof of floor, It's a gamble.

You have to learn a bit of technical analysis and understand hidden bearish divergence and hidden bullish divergence this gives you an idea when an asset is either going to go up or go down.
Greed is an emotion and so is fear and the smart money use it to their advantage.
You see all the negative news at the moment in stocks and Crypto and people become fearful and sell their holdings and the smart buy it up cheap.
Then when the economy picks up and stocks and crypto start to go back up and the news is all positive the retail investors like Joe Public start to buy when the prices are really high and then it plummets and they panic sell through fear and the process starts all over again.

 

[avid]

Bill Gates says crypto and NFTs are a sham

I see he didn’t mention blockchain technology. Invented by the person who invented bitcoin.

 

[bamber]

He didn't mention it because it isn't relevant to the point he was making, that bitcoin isn't backed by anything of real value, or any government or central bank which would support it in a crisis.