The Bitcoin and cryptocurrency thread

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Thistle
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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Sun Jan 28, 2018 6:32 pm

Thanks for your prompt response,,,,,,,,,,,however i am still at a loss.........Supply and Demand,,,,,,,,,,,,i relate this to commodities,,,,,,,,,,,,,,Orange Juice in Florida,the price is based upon the weather,,,,,,,,,,,,,a gold mine in south Africa alters its production/supply on the market requirements,,,,,,,corn in the central plains in the US,the price is based upon demand,plus or minus,,,,,,,,,,,,,,,,,,,what determines the price of bitcoin,,,,,,,,,,,,,,,,,what USE does bitcoin have,,,,,,,,or am i missing something??

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Sun Jan 28, 2018 8:02 pm

It is a decentralized digital currency, though not really as efficient as some of the others.
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Re: The Bitcoin and cryptocurrency thread

Post by johnjar » Sun Jan 28, 2018 8:16 pm

Thistle wrote:
Sun Jan 28, 2018 6:32 pm
Thanks for your prompt response,,,,,,,,,,,however i am still at a loss.........Supply and Demand,,,,,,,,,,,,i relate this to commodities,,,,,,,,,,,,,,Orange Juice in Florida,the price is based upon the weather,,,,,,,,,,,,,a gold mine in south Africa alters its production/supply on the market requirements,,,,,,,corn in the central plains in the US,the price is based upon demand,plus or minus,,,,,,,,,,,,,,,,,,,what determines the price of bitcoin,,,,,,,,,,,,,,,,,what USE does bitcoin have,,,,,,,,or am i missing something??
"am i missing something??" Thistle your not the lone ranger there.

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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 5:27 pm

Thanks Buksida,,,,,,,have spent the afternoon reading up on "decentralized digital currency" still believe its no different to walking into a casino and placing 5/10/20 thousand dollars on red or black,,,,,the price fluctuations of Bitcoin,are the same, win or lose no different.
Currently trading at just above 11,000 dlrs,,,,,,,,what market in any commodity moves 400/600 dlrs per,,,,,,,,,,,,whatever in such a short period of time????
And if it does move,,,,,,,,,,,,,,UP or DOWN,,,,,,,,,,,,,,,why??

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buksida
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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Mon Jan 29, 2018 5:30 pm

Why does any market move up or down? People are buying and selling it, bulls and bears. The crypto market just moves a lot faster than centralized markets such as forex or stock exchanges and it is a lot more volatile. News and FUD (fear, uncertainty, doubt) has a greater affect on crypto markets.
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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 5:41 pm

Of course i agree 100 percent,,,,,,,,,,,,,however,"markets" move with supply and demand,,,,,,,,bulls and bears can control many markets,very simple,financial clout,,,,,,,,,,,BUT,,,,,when you buy 1 million bahts worth of cyrpto now,,,,,,,,,,,and 1 hour later your I million is either,1.5 million,or ,500000,,,,,,,,why,in the space of one/two hours can this happen,and for what reason?

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Mon Jan 29, 2018 5:44 pm

Because it is decentralized digital currency - it cannot be compared to traditional stocks or commodities which are centrally controlled by banks and corporations.

Edit: the markets don't go up or down 50% unless something really calamitous has happened. Here are the fluctuations for today: https://coinmarketcap.com/
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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 5:54 pm

Oki doki,,,,,so it cannot be compared to trading/speculating/gambling on the price movements of markets that fix prices on the worlds exchanges for commodities around the world? So,why buy or sell something that does not exist?

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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 5:56 pm

I have not opened the app yet,,,,,,,,,50%,,,,,,,,,,a coin is worth 11,000 dlrs

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Mon Jan 29, 2018 6:00 pm

Try getting your equivalent in gold from your USD or Sterling from your GBP - does it exist?

Fiat is printed by governments so does that exist beyond how much a bank or government wants to produce of it?
US-dollar-Value-3-value-of-the-dollar.jpg
fig-3-us-national-debt-money-supply-vs-cpi.jpg
What is real?
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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 6:11 pm

Gold is currently trading at approx 1350 an ounce,Platinum at just above a 1000,,,,,,,,,,,,i know exactly where i want my money to be,,,,,,,,why would anyone what to invest in/gamble on a market which is totally and utterly speculative.
Not sure of your last comment,but its still not a viable option to trade in Bitcoin,,,,,,,,,,,,,,consider the banks in the UK stating,,,,,where did your profit come from??? Seriously,,what other market could create such a situation?

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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 6:13 pm

Long term investment,,,,,,,,,,,,,,,,,,,,short term,,,,,,,,,,,,,,,,,,,buy or sell,,,,,,,,,,,,,,,,win or lose,,,,,,,,,,,,spin the wheel!!

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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 6:17 pm

there is not another market currently that has moved more than 400 dlrs,whilst chatting,,,,,,,,,,,,,,per coin,,,,,,,,,,,,,,,,,,,,,,nothing to do with supply or demand,,,,,,,,,,,,pure speculation.

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Mon Jan 29, 2018 6:20 pm

It has moved $17 dollars while we have been chatting (approx 1 hour). You have your opinion which you are of course entitled to, what is not viable for you is very viable for other people.

Lets keep this thread constructive please.
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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Mon Jan 29, 2018 6:29 pm

Okay,it is currently trading at 347935 baht,,,,,,when i opened my lap top it was approx 400 dlrs different,not baht,,,,,,,,,yes i have my opinion,,,,,,,,,,,,,,,and i did not feel that my comments were non-constructive,,,,,,,,,,,,,,

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