Fear of missing out

This is a discussion on Fear of missing out within the Cryptocurrencies forums, part of the Markets category; Surely banks and governments would do everything they can to control the money just like they do now?...

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Old Nov 27, 2017, 5:05pm   #17
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brewski1984 started this thread Surely banks and governments would do everything they can to control the money just like they do now?
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Old Nov 27, 2017, 5:20pm   #18
 
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why not just spread bet bitcoin?

not looked at a bitcoin chart ever so don't know what movement, trends etc would be there.

but seems to me a relatively safe option of getting price movement exposure without any risk of actually owning bitcoin?

thoughts?
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Old Nov 27, 2017, 5:39pm   #19
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Originally Posted by Lightning McQueen View Post
why not just spread bet bitcoin?

not looked at a bitcoin chart ever so don't know what movement, trends etc would be there.

but seems to me a relatively safe option of getting price movement exposure without any risk of actually owning bitcoin?

thoughts?
Could just be too volatile to trade. Certainly there have been huge dips, but inveriably it turns around and were off to the races again. If trading it, ya need decent capital and minor stakes. Forget about the old risk reward 2% nonesense, these things can halve and double in a day
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Old Nov 27, 2017, 5:41pm   #20
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Originally Posted by brewski1984 View Post
Surely banks and governments would do everything they can to control the money just like they do now?
Indeed, but I expect they are going to have their work cut out with this One. Disruptive, decentralised and controlled by no one.
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Old Nov 27, 2017, 8:51pm   #21
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Indeed, but I expect they are going to have their work cut out with this One. Disruptive, decentralised and controlled by no one.
No government is going to allow fiat money to be overridden by a currency they have no control over. It undermines central banks ability to maintain price stability and governments can't just print more of it. They also are not going to allow this to be a loophole for laundering or terrorist avenues to funding. Enjoy the ride while it lasts and get out while it's good.
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Old Nov 27, 2017, 9:15pm   #22
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No government is going to allow fiat money to be overridden by a currency they have no control over. It undermines central banks ability to maintain price stability and governments can't just print more of it. They also are not going to allow this to be a loophole for laundering or terrorist avenues to funding. Enjoy the ride while it lasts and get out while it's good.
The challenge will be how to stop it. Unless there is worldwide consensus, it will be impossible. We all know that there will never be consensus don't we!

BTW. Govt's and central bankers are crooks, just in case that has escaped your attention.

https://dailyreckoning.com/fiat-currency/

Might I also suggest you read up on fiat currencies, who's value is backed up by nothing.
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Old Nov 27, 2017, 10:20pm   #23
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Bitcoin bubble dwarfs tulip mania from 400 years ago, Elliott Wave analyst says...

https://www.cnbc.com/2017/07/20/bitc...iott-wave.html

(it's from July)

Last edited by metrader; Nov 27, 2017 at 10:25pm.
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Old Nov 27, 2017, 10:50pm   #24
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There is a well known quote which I think is appropriate regarding the "bitcon" mania “There are three types of people in this world. Firstly, there are people who make things happen. Then there are people who watch things happen. Lastly, there are people who ask, what happened?

Bitcoin has entered a parabolic phase IMO not different to any we have seen in history when it is in a parabolic ascend. We have seen it during the tulip mania; the dotcom era; commodities in terminal phase; and very often in small cap stocks. Speculators see an opportunity to make quick money during this phase provided they also manage the enhanced risk. There is even a parabolic tool available in some charting software that allows you to draw a parabolic curve. As long as prices stay within the curve you stay in the trade. Parabolic moves normally last longer than usually perceived but once it exhaust it tanks even quicker. That is the nature of the beast.

In my view, trying to rationalise the fundamental reasons for the rise is flawed. Blockchain is a technology and unproven in a larger commercial sense. Linking Bitcoin to blockchain in my view is conflating a technology platform with a speculative instrument that serves a niche market. If you wish to speculate in an instrument that is in a parabolic state then trade it as such and know what the exit triggers are. The worst position to be in is trying to justify why you are still holding on to something fundamentally when it is tanking. If you are investing in it because of the potential blockchain technology, then the fundamental question is why is Bitcoin the surrogate valuation of blockchain technology as often seems to be the argument?
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