Bitcoins - fad or trend?

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BarsandStars
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Re: Bitcoins - fad or trend?

Postby BarsandStars » Mon May 07, 2018

tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
Long John wrote:When I put skin in the game 14 months ago, silver was $18.25 and Bitcoin was $1147. This morning silver is $16.50 and Bitcoin is $9547. Man, am I sorry I didn't take tdtwedt's advice back then.


How much money has your 27 K project lost so far ?

viewtopic.php?f=142&p=580183#p580183


Dick move, man. Show some class will ya.


:roll:


Evidently I replied to you via PM somehow but i'll repeat it here. If you have nothing to add to the discussion, move along.


The post title is fad or trend. If I think it is a fad then I can post my argument.

:pop:


Posting a nonsense article with the intention of pissing people off is trolling, not an argument. Adults are conversing so please see yourself to the kids table.
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon May 07, 2018

BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
Long John wrote:When I put skin in the game 14 months ago, silver was $18.25 and Bitcoin was $1147. This morning silver is $16.50 and Bitcoin is $9547. Man, am I sorry I didn't take tdtwedt's advice back then.


How much money has your 27 K project lost so far ?

viewtopic.php?f=142&p=580183#p580183


Dick move, man. Show some class will ya.


:roll:


Evidently I replied to you via PM somehow but i'll repeat it here. If you have nothing to add to the discussion, move along.


The post title is fad or trend. If I think it is a fad then I can post my argument.

:pop:


Posting a nonsense article with the intention of pissing people off is trolling, not an argument. Adults are conversing so please see yourself to the kids table.


The opinion of Warren Buffett matters to me a lot more than your opinion.
There are more ways than one to skin a cat.

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BarsandStars
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Re: Bitcoins - fad or trend?

Postby BarsandStars » Mon May 07, 2018

tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
Long John wrote:When I put skin in the game 14 months ago, silver was $18.25 and Bitcoin was $1147. This morning silver is $16.50 and Bitcoin is $9547. Man, am I sorry I didn't take tdtwedt's advice back then.


How much money has your 27 K project lost so far ?

viewtopic.php?f=142&p=580183#p580183


Dick move, man. Show some class will ya.


:roll:


Evidently I replied to you via PM somehow but i'll repeat it here. If you have nothing to add to the discussion, move along.


The post title is fad or trend. If I think it is a fad then I can post my argument.

:pop:


Posting a nonsense article with the intention of pissing people off is trolling, not an argument. Adults are conversing so please see yourself to the kids table.


The opinion of Warren Buffett matters to me a lot more than your opinion.


Funny, I don't recall anyone here asking for Warren Buffets opinion, nor caring to hear it. You just like to hear yourself talk?
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tdtwedt
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon May 07, 2018

BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
BarsandStars wrote:
tdtwedt wrote:
Long John wrote:When I put skin in the game 14 months ago, silver was $18.25 and Bitcoin was $1147. This morning silver is $16.50 and Bitcoin is $9547. Man, am I sorry I didn't take tdtwedt's advice back then.


How much money has your 27 K project lost so far ?

viewtopic.php?f=142&p=580183#p580183


Dick move, man. Show some class will ya.


:roll:


Evidently I replied to you via PM somehow but i'll repeat it here. If you have nothing to add to the discussion, move along.


The post title is fad or trend. If I think it is a fad then I can post my argument.

:pop:


Posting a nonsense article with the intention of pissing people off is trolling, not an argument. Adults are conversing so please see yourself to the kids table.


The opinion of Warren Buffett matters to me a lot more than your opinion.


Funny, I don't recall anyone here asking for Warren Buffets opinion, nor caring to hear it. You just like to hear yourself talk?


:duck:
There are more ways than one to skin a cat.

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Re: Bitcoins - fad or trend?

Postby iron-pyrite » Mon May 07, 2018

I was going to say something logical and concise but anyone with a different opinion will want to draw out an argument. I digress...
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Re: Bitcoins - fad or trend?

Postby joefro » Mon May 07, 2018

I am all for seeing articles and links posted from all sides of an argument, although it is better with a little commentary for contribution and context and to not come across as trolling.

However, what is the benefit of the “down 5% today :pop: “ posts? People in this thread follow price movements pretty closely so you’re not really providing a service with those posts, and when you only post on downward moves you can see why that could be interpreted as trolling. After how many years and incorrect predictions will you start thinking more trend than fad? This thread has already been around 5 years.

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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon May 07, 2018

joefro wrote:I am all for seeing articles and links posted from all sides of an argument, although it is better with a little commentary for contribution and context and to not come across as trolling.

However, what is the benefit of the “down 5% today :pop: “ posts? People in this thread follow price movements pretty closely so you’re not really providing a service with those posts, and when you only post on downward moves you can see why that could be interpreted as trolling. After how many years and incorrect predictions will you start thinking more trend than fad? This thread has already been around 5 years.


When bitcoin is down 50% from its highs and was obviously in a bubble then when do you call it a fad?

I prefer people make their own opinion and not force feed them "commentary".
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Re: Bitcoins - fad or trend?

Postby joefro » Mon May 07, 2018

tdtwedt wrote:
joefro wrote:I am all for seeing articles and links posted from all sides of an argument, although it is better with a little commentary for contribution and context and to not come across as trolling.

However, what is the benefit of the “down 5% today :pop: “ posts? People in this thread follow price movements pretty closely so you’re not really providing a service with those posts, and when you only post on downward moves you can see why that could be interpreted as trolling. After how many years and incorrect predictions will you start thinking more trend than fad? This thread has already been around 5 years.


When bitcoin is down 50% from its highs and was obviously in a bubble then when do you call it a fad?

I prefer people make their own opinion and not force feed them "commentary".



You’ve been posting in this thread implying it is a fad for YEARS before BTC hit its high and subsequent drop so I don’t think that explains your postings. You were telling people to sell BTC and buy silver when BTC was at $2000. Silver is down double that percentage from its ATH, but no one here is calling silver a fad, let alone posting popcorn emoticons every time bullion has a bad day.

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Re: Bitcoins - fad or trend?

Postby tdtwedt » Mon May 07, 2018

joefro wrote:
tdtwedt wrote:
joefro wrote:I am all for seeing articles and links posted from all sides of an argument, although it is better with a little commentary for contribution and context and to not come across as trolling.

However, what is the benefit of the “down 5% today :pop: “ posts? People in this thread follow price movements pretty closely so you’re not really providing a service with those posts, and when you only post on downward moves you can see why that could be interpreted as trolling. After how many years and incorrect predictions will you start thinking more trend than fad? This thread has already been around 5 years.


When bitcoin is down 50% from its highs and was obviously in a bubble then when do you call it a fad?

I prefer people make their own opinion and not force feed them "commentary".



You’ve been posting in this thread implying it is a fad for YEARS before BTC hit its high and subsequent drop so I don’t think that explains your postings. Silver is down double that percentage from its ATH, but no one here is calling silver a fad.


I have thought that bitcoin is a fad for years. You are correct.
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue May 08, 2018

joefro wrote:
tdtwedt wrote:
joefro wrote:I am all for seeing articles and links posted from all sides of an argument, although it is better with a little commentary for contribution and context and to not come across as trolling.

However, what is the benefit of the “down 5% today :pop: “ posts? People in this thread follow price movements pretty closely so you’re not really providing a service with those posts, and when you only post on downward moves you can see why that could be interpreted as trolling. After how many years and incorrect predictions will you start thinking more trend than fad? This thread has already been around 5 years.


When bitcoin is down 50% from its highs and was obviously in a bubble then when do you call it a fad?

I prefer people make their own opinion and not force feed them "commentary".



You’ve been posting in this thread implying it is a fad for YEARS before BTC hit its high and subsequent drop so I don’t think that explains your postings. You were telling people to sell BTC and buy silver when BTC was at $2000. Silver is down double that percentage from its ATH, but no one here is calling silver a fad, let alone posting popcorn emoticons every time bullion has a bad day.

The beauty of arguing with twept about crypto, is that he hardly ever provides an argument, just a price movement update or a link to some random article. Therefore he is quite easy to ignore and has little credibility to speak intelligently in this thread. But he is more than welcome to continue posting his ramblings, musings, links, and price updates.
He believes crypto is a fad. So be it. I know elderly people that still think email was and is a fad and they have never sent an email. Guess what, society leaves them behind no matter how much they dig in their heels. 20 years from now, as society has mass adopted blockchain tech, he and others of his kind will still resist the superior technology on principle. Ask them what that principle is and you will be hard pressed to get a coherent response that makes any logical sense. But that's okay too. Many people have no rational position for the beliefs they hold. Self examination and questioning the underlying assumptions of one's core beliefs is a challenging endeavor for most of us.
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Tue May 08, 2018

silverpv wrote:It's always hard to choose when to buy and sell.. But you have to do it to realize some profit. Do any of you guys take $ out or is it all in only? I just recently took some out after this last push, looking for some oz's. I'm just glad crypto upgraded me from 1/10th straight to oz's. :)


I believe a good piece of advice put forth by Long John and many others is to remove your initial investment after making a predetermined amount. That amount will vary based on individual age, risk tolerance, other assets held, etc. So if a person put in $1k and said they would take out the $1k after doing a 5x move, then once they hit $5k, they take out the $1k and play with the remaining $4k as a freeroll of sorts. As long as a person doesn't put in more than they can afford to lose, then this strategy has great merit.
Obviously if one is able to sell the tops and buy back on the lows, that is the most ideal. But life doesn't usually work out quite that nicely. We either sell some too early (like I did with some NEO last year), or you buy back too soon ( like I did with bitcoin in 2014, 2016, and 2018).
Here is the crux of it though. Blockchain tech is going to disrupt numerous industries, not just currency creation. I look for industries that will be at risk and try to get on the ground floor there. So if I am pulling out crypto profits, I have less to invest in this new tech. Online gambling is going to be changed from 2018 on. Voting will be changed. Online file storage, supply chain management, title insurance, even securities can be tokenized and better managed. So while it can be tempting to take a bunch of profits, I want to think longer term and find the winners of tomorrow, today. The trick is not falling for scams, and finding projects that actually solve these real world problems.
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Re: Bitcoins - fad or trend?

Postby jcz1 » Tue May 08, 2018

SilverDoge wrote: I know elderly people that still think email was and is a fad and they have never sent an email. Guess what, society leaves them behind


I know of an elderly person in DC who has never sent an email. I WISH society would have left him behind. :lol:

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Re: Bitcoins - fad or trend?

Postby silverpv » Tue May 08, 2018

SilverDoge wrote:
silverpv wrote:It's always hard to choose when to buy and sell.. But you have to do it to realize some profit. Do any of you guys take $ out or is it all in only? I just recently took some out after this last push, looking for some oz's. I'm just glad crypto upgraded me from 1/10th straight to oz's. :)


I believe a good piece of advice put forth by Long John and many others is to remove your initial investment after making a predetermined amount. That amount will vary based on individual age, risk tolerance, other assets held, etc. So if a person put in $1k and said they would take out the $1k after doing a 5x move, then once they hit $5k, they take out the $1k and play with the remaining $4k as a freeroll of sorts. As long as a person doesn't put in more than they can afford to lose, then this strategy has great merit.
Obviously if one is able to sell the tops and buy back on the lows, that is the most ideal. But life doesn't usually work out quite that nicely. We either sell some too early (like I did with some NEO last year), or you buy back too soon ( like I did with bitcoin in 2014, 2016, and 2018).
Here is the crux of it though. Blockchain tech is going to disrupt numerous industries, not just currency creation. I look for industries that will be at risk and try to get on the ground floor there. So if I am pulling out crypto profits, I have less to invest in this new tech. Online gambling is going to be changed from 2018 on. Voting will be changed. Online file storage, supply chain management, title insurance, even securities can be tokenized and better managed. So while it can be tempting to take a bunch of profits, I want to think longer term and find the winners of tomorrow, today. The trick is not falling for scams, and finding projects that actually solve these real world problems.


The way I figure, with so many boom and bust periods, profit taking is healthy and a necessity so one doesn’t lose all the gains not just from volatility but also from scams etc. All good though if you still have most of it in. I’ve decided on top of the initial strategy to pull principal out compliment that with 10-30% draws on big moves into usd or AU/Ag to lock it in.

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Re: Bitcoins - fad or trend?

Postby Long John » Tue May 08, 2018

OK, so we know Warren Buffett, Jamie Dimon, Bill Gates, tdtwedt and other luminaries don't like Bitcoin. Got it. They seem to devote some time to tracking Bitcoin in order to pick out negative news and highlight it. Maybe they have staffers whose job it is to do that.

At least they're interested. Future Bitcoin owners? :pop:

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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed May 09, 2018

tdtwedt wrote:
joefro wrote:I am all for seeing articles and links posted from all sides of an argument, although it is better with a little commentary for contribution and context and to not come across as trolling.

However, what is the benefit of the “down 5% today :pop: “ posts? People in this thread follow price movements pretty closely so you’re not really providing a service with those posts, and when you only post on downward moves you can see why that could be interpreted as trolling. After how many years and incorrect predictions will you start thinking more trend than fad? This thread has already been around 5 years.


When bitcoin is down 50% from its highs and was obviously in a bubble then when do you call it a fad?

I prefer people make their own opinion and not force feed them "commentary".


Commentary is what gives this forum value. If all we did was post article links to stuff, it would be about the absolute worst forum experience. Adding commentary also shows one is adding value and has knowledge of the related subject so that people can make a judgement call on whether the author of said commentary is to be taken seriously or not, and how much weight to give that commentary. Anyone clicking on this thread is interested in what is happening in the bitcoin world or learning about bitcoin/crypto in general. Most of it will likely be positive here because who wants to spend a bunch of time being negative about something that you aren't even into? If one is interested in the downside of bitcoin/crypto, there is plenty of info out there. For example, I thought it was possible you were a Reddit moderator over on this thread: https://www.reddit.com/r/Buttcoin/

tdtwedt's issue is he is solely focused on the bitcoin price, and hence why he thinks it is a fad if it lost 50% or more value from a peak. While USD price is highly interesting of course, price is merely one factor that helps with overall bitcoin adoption and not the determining factor on whether bitcoin is growing or dying. We can look at other factors such as number of full client nodes https://coin.dance/nodes, required mining power, number of lightning network channels, daily trading volume, the actual Bitcoin Improvement Proposals (BIP) for development of the open-source, decentralized bitcoin protocol & network https://github.com/bitcoin/bips.

I saw this info-graphic on Parabolic Trav's twitter feed. When it comes to overall adoption we are just getting warmed up.... unless of course Bitcoin is a fad and will die on the vine in 5-10 years :roll: So while tdwedt and Warren Buffet think bitcoin is rat poison, others like Doug Maughan, the Science and Technology Directorate's cybersecurity division director, a group within the Department of Homeland Security - said before two Congressional subcommittees this week, that "the application of blockchain tech is almost limitless." - https://www.coindesk.com/us-house-hearing-touts-blockchain-use-in-supply-chain-management/
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Re: Bitcoins - fad or trend?

Postby natsb88 » Wed May 09, 2018

Season 5, Episode 7 of the HBO comedy Silicon Valley is titled "Initial Coin Offering" and it's pretty good. If you like techy stuff and techy humor, get the free trial of HBO from Hulu or Amazon and binge the series. It's an HBO show, so full of vulgarities, but funny.

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Re: Bitcoins - fad or trend?

Postby jcz1 » Wed May 09, 2018

SilverDoge wrote: So while tdwedt and Warren Buffet think bitcoin is rat poison, others like Doug Maughan, the Science and Technology Directorate's cybersecurity division director, a group within the Department of Homeland Security - said before two Congressional subcommittees this week, that "the application of blockchain tech is almost limitless." -


Statements like this are misleading. Bitcoin can still be rat poison even if blockchain has limitless applications. Both are quite possibly true.

Bitcoin is simply one application, in this case an alternative currency. There is no link between its value and the use of blockchain tech in other applications.

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Re: Bitcoins - fad or trend?

Postby SilverDoge » Wed May 09, 2018

SilverDoge wrote: So while tdwedt and Warren Buffet think bitcoin is rat poison, others like Doug Maughan, the Science and Technology Directorate's cybersecurity division director, a group within the Department of Homeland Security - said before two Congressional subcommittees this week, that "the application of blockchain tech is almost limitless." -

jcz1 wrote:Bitcoin can still be rat poison even if blockchain has limitless applications. Both are quite possibly true.

Possible, buy highly unlikely.
jcz1 wrote:Bitcoin is simply one application, in this case an alternative currency.

Correct.
jcz1 wrote:There is no link between its value and the use of blockchain tech in other applications.

Incorrect. There are many cryptos out there today that ought not to have any relation to the price of bitcoin, but they all inevitably do, at least today. That is because BTC is king. It is the current medium (along with ETH) that people use to obtain other cryptos in most instances. It has the network, the mass of devs, the name recognition, etc. Now if your statement claimed "maybe someday, there will be no link between blockchain tech, and the bitcoin protocol which invented the blockchain technology" then I could give you a pass.

Side note, many of us in crypto value other alt-coins and other blockchain tech against bitcoin. So even if there was "no link" as you say, people will still price the other blockchain tech in terms of bitcoin (or satoshi value) and therefore there will always be some sort of link, if only a mere price representation of value against the king, BTC.
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Re: Bitcoins - fad or trend?

Postby jcz1 » Wed May 09, 2018

While I can see your point about bitcoin's value being linked to some alt-coins, and those alt-coins are technically blockchain applications, my point is the generic blockchain application has nothing to do with bitcoin or its value. So to link "limitless applications" of blockchain to the value of bitcoin itself is misleading. Any such link is with a specific set of applications (only alt-coins as far as I can tell), and even that link, as you suggest, may be temporary.

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Re: Bitcoins - fad or trend?

Postby iron-pyrite » Wed May 09, 2018

:pop:
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