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Thread: Bitcoin

  1. #526
    Guru minimoke's Avatar
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    Quote Originally Posted by Shrewd Crude View Post
    I said it yesterday folks...
    crypto us a great safe haven from the sharemarket demise... this is what it was intended for... crypto up 80 billion overnight... huge...
    Sharemarlets currently in turmoil. Wheres this safe haven Shredy. Crypts were worth $370 b when you posted this (Now $206b)

    Edit - a few hours later $197b
    Edit $195 - is it too late to say don't get killed in the rush to exit?
    Last edited by minimoke; Yesterday at 01:54 PM.

  2. #527
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    test of the lows coming
    bull

  3. #528
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    It was crashing until the $190b mark was hit. Seems to have been halted for the moment

  4. #529
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    Quote Originally Posted by minimoke View Post
    Dont want to dampen your enthusiasm, but facts and number tell a different story. As predicted back under $6200 - currently on $6142. Next stop - a number starting with 5
    3 days later we nudge $5959. These new lows are being breached with Bitcoin holding the market up with 54% dominance. Volumes are up on BTC which indicates rats deserting the ship. Once the support for btc final cracks she'll be all over rover.

  5. #530
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    Quote Originally Posted by minimoke View Post
    3 days later we nudge $5959. These new lows are being breached with Bitcoin holding the market up with 54% dominance. Volumes are up on BTC which indicates rats deserting the ship. Once the support for btc final cracks she'll be all over rover.
    the lows are holding ... see what happens bounce or break

    what about this dude borrowed heaps for crypto

    https://www.nzherald.co.nz/business/...ectid=12106959

    they refer to some of these coins as sh.tcoins , thats the linko
    Last edited by bull....; Today at 07:29 AM.
    bull

  6. #531
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    Quote Originally Posted by bull.... View Post
    the lows are holding ... see what happens bounce or break

    what about this dude borrowed heaps for crypto

    https://www.nzherald.co.nz/business/...ectid=12106959

    they refer to some of these coins as sh.tcoins , thats the linko
    The Greater Fool Theory, QED (quod erat demonstrandum)

    From Wikipedia
    "The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants.

    A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price. In other words, one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later."

    Cryptocurrencies do not produce rent, dividends, interest so by definition have no intrinsic value - like fine art, stamps, anything collectible, gems or for that matter, gold.

    In any market driven by the belief of market participants rather than intrinsic value there will be heurisitic justifications for the inevitable changes in value - it is not to say that the market will collapse like it did for the South Sea Bubble, Tulips or Dotcom shares but it is so very dependent on the number of participants and the level of belief as the continuing market for gold attests.

    Then again, history could attest that any currency or even the banking system is simply a suspended form of mass hysteria.

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