Bitcoin $781.41
- Thread starter MadJack
- Start date
interesting read:
Emil Oldenburg, the CTO and co-founder of bitcoin.com has spent the past three years in Tokyo.
Bitcoin is ?as good as useless? and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world?s largest bitcoin industry websites. He has sold all his bitcoins and believes others will do the same when they realize how illiquid the market is, the entrepreneur told Swedish tech site Breakit. Bitcoin?s main drawbacks are high fees and transaction costs, and the resistance to change from people running the old bitcoin network. Oldenburg does believe there is a future for Bitcoin Cash.
https://www.btcme.com/2017/12/18/ne...websites-industry-sold-bitcoins-good-useless/
:0008
Emil Oldenburg, the CTO and co-founder of bitcoin.com has spent the past three years in Tokyo.
Bitcoin is ?as good as useless? and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world?s largest bitcoin industry websites. He has sold all his bitcoins and believes others will do the same when they realize how illiquid the market is, the entrepreneur told Swedish tech site Breakit. Bitcoin?s main drawbacks are high fees and transaction costs, and the resistance to change from people running the old bitcoin network. Oldenburg does believe there is a future for Bitcoin Cash.
https://www.btcme.com/2017/12/18/ne...websites-industry-sold-bitcoins-good-useless/
:0008
He's just a troll for BCH trying to instill FUD in BTC. I wouldn't pay any attention to him.
dang I just sold 60% of mine at $327
thanks for the tip bud and open for a call or meet for dinner any time :toast:
Woody - you don?t but a meal in Chicago anymore. If you?re ever in town, let me know.
- Feb 26, 2001
- 13,593
- 164
- 63
opcorn2
Was BTC not going to 100k? LOL
Are you indicating to diversify with BCC?
What ratio would you suggest - BTC,BCC,ALTS
Kevin O Leary on cryptos....good read..
Kevin O Leary on cryptos....good read..
He calls it as he sees it......love him on "Shark Tank"
Cryptocurrencies have caught the attention of financial analysts, CEOs and regular people hoping to get rich quick after dramatic spikes in recent weeks created millionaires and possibly billionaires out of early believers.
The price of a bitcoin increased by about 1,600 percent from the close of Dec. 31, 2016 to the close of Dec. 14, 2017. Friday morning, bitcoin was trading over $17,500, according to industry site CoinDesk. In a spike, bitcoin briefly topped a record $19,000 in December trading on the Coinbase exchange. Other cryptocurrencies like litecoin and ethereum have seen gains too.
But before you use your hard-earned dollars to get a piece of the action, Kevin O'Leary has a word of warning about the mania.
"I'm quite sure that 99 percent of the people that own bitcoin do not understand how it works," he tells CNBC Make It. "That always is a cocktail for disaster."
The technology behind bitcoin is complex: Its creator remains unknown, but the original white paper outlining the idea for bitcoin describes it as a "peer-to-peer version of electronic cash," operating on a decentralized digital ledger, known as blockchain.
If the promise of big gains has enticed people to buy bitcoin without researching the idea fully, that spells trouble. "I've seen this movie before, it ends badly," O'Leary says.
"You should never invest in something you don't understand," he says.
One thing people don't understand, is that bitcoin doesn't actually work as a currency, according to O'Leary.
He recently tried to do a roughly $200,000 deal in bitcoin, but because its value is so volatile, the other party would only agree if he guaranteed the value of the bitcoin against the price of the U.S. dollar.
"If clearly neither side thinks it is stable enough to transfer in one minute, and they don't even want to take one minute of risk, it is not a currency," he says.
Think of it like this: When you use dollars to buy a cup of coffee, for example, you and the coffee shop both expect the value of the dollar to remain stable between the time you order and the time you pay. Each side agrees, $2.50 equals one cup of coffee. O'Leary says bitcoin lacks that quality.
"The fact is, it is so unstable ? volatility is both directions, it's up and it's down ? that nobody in a substantive transaction will take that risk," O'Leary says. "So it is a long way from being a currency.
"However, is it an asset? Yes. It is one of the most successful assets on the planet right now because it's a global speculation."
Unlike a currency, which is used to assign and exchange value, an asset has its own inherent value based on what people will pay for it, like art.
So, "If you don't have a real understanding of what you are doing with that, you should only treat [bitcoin] for what it is ? great entertainment," he says.
That means only buying bitcoin with money you're willing to lose, and treating the decision like you would gambling in a casino. (Investment experts Jim Cramer and Tony Robbins both agree with O'Leary that buying bitcoin is like going to Vegas.)
"I don't know if it is going to $40,000 or zero, and nobody knows. So, I just think it is a wonderful entertainment, just like a slot machine is, or putting chips on a roulette wheel," says O'Leary.
"Right now it is fun, exciting, entertaining. As long as you can afford to lose everything you put into it, go with it."
Kevin O Leary on cryptos....good read..
He calls it as he sees it......love him on "Shark Tank"
Cryptocurrencies have caught the attention of financial analysts, CEOs and regular people hoping to get rich quick after dramatic spikes in recent weeks created millionaires and possibly billionaires out of early believers.
The price of a bitcoin increased by about 1,600 percent from the close of Dec. 31, 2016 to the close of Dec. 14, 2017. Friday morning, bitcoin was trading over $17,500, according to industry site CoinDesk. In a spike, bitcoin briefly topped a record $19,000 in December trading on the Coinbase exchange. Other cryptocurrencies like litecoin and ethereum have seen gains too.
But before you use your hard-earned dollars to get a piece of the action, Kevin O'Leary has a word of warning about the mania.
"I'm quite sure that 99 percent of the people that own bitcoin do not understand how it works," he tells CNBC Make It. "That always is a cocktail for disaster."
The technology behind bitcoin is complex: Its creator remains unknown, but the original white paper outlining the idea for bitcoin describes it as a "peer-to-peer version of electronic cash," operating on a decentralized digital ledger, known as blockchain.
If the promise of big gains has enticed people to buy bitcoin without researching the idea fully, that spells trouble. "I've seen this movie before, it ends badly," O'Leary says.
"You should never invest in something you don't understand," he says.
One thing people don't understand, is that bitcoin doesn't actually work as a currency, according to O'Leary.
He recently tried to do a roughly $200,000 deal in bitcoin, but because its value is so volatile, the other party would only agree if he guaranteed the value of the bitcoin against the price of the U.S. dollar.
"If clearly neither side thinks it is stable enough to transfer in one minute, and they don't even want to take one minute of risk, it is not a currency," he says.
Think of it like this: When you use dollars to buy a cup of coffee, for example, you and the coffee shop both expect the value of the dollar to remain stable between the time you order and the time you pay. Each side agrees, $2.50 equals one cup of coffee. O'Leary says bitcoin lacks that quality.
"The fact is, it is so unstable ? volatility is both directions, it's up and it's down ? that nobody in a substantive transaction will take that risk," O'Leary says. "So it is a long way from being a currency.
"However, is it an asset? Yes. It is one of the most successful assets on the planet right now because it's a global speculation."
Unlike a currency, which is used to assign and exchange value, an asset has its own inherent value based on what people will pay for it, like art.
So, "If you don't have a real understanding of what you are doing with that, you should only treat [bitcoin] for what it is ? great entertainment," he says.
That means only buying bitcoin with money you're willing to lose, and treating the decision like you would gambling in a casino. (Investment experts Jim Cramer and Tony Robbins both agree with O'Leary that buying bitcoin is like going to Vegas.)
"I don't know if it is going to $40,000 or zero, and nobody knows. So, I just think it is a wonderful entertainment, just like a slot machine is, or putting chips on a roulette wheel," says O'Leary.
"Right now it is fun, exciting, entertaining. As long as you can afford to lose everything you put into it, go with it."
Serious question.....
Serious question.....
If you wanted to buy Bitcoin when it crashed to 10,500
could you have ACTUALLY locked in that transaction price anywhere?
Serious question.....
If you wanted to buy Bitcoin when it crashed to 10,500
could you have ACTUALLY locked in that transaction price anywhere?
If you had orders up on GDAX or Gemini its possible. It literally flashed there for less than a second or 2. You could have loaded orders when it was in the low 11000s.
If you have ur limits set up they will typically go through. Worked for me yesterday
Looks like BK is one of us and doesnt kniw the future. Charlie Lee the creator sold at your price as well. Feel good about it.
BTC will always be the blue whale or sun in the system. BTC will not cover micropayments. You have to understand the business needs, the team, the objectives of every categorical industry coin. Cover top 3, shave profits and move into next three. Im at 8 figures.
Now its just a game.
If you are trading btc vs alts or are thinking btc, get back in before first day of business of 2018. 28k by end of Feb. I had statedMarch prior however I think as do others, crypto goes even faster in 18 vs 17... vs 12-16.
