Fear of missing out

This is a discussion on Fear of missing out within the Cryptocurrencies forums, part of the Markets category; Originally Posted by counter_violent The challenge will be how to stop it. Unless there is worldwide consensus, it will be ...

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Old Nov 27, 2017, 10:50pm   #25
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Originally Posted by counter_violent View Post
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.

No challenge at all. Simply slap regulation on it or make it illegal like ponzi schemes. As for consensus, no government wants its currency undermined and pressure will be applied to those that don't comply
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Old Nov 27, 2017, 10:58pm   #26
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No challenge at all. Simply slap regulation on it or make it illegal like ponzi schemes. As for consensus, no government wants its currency undermined and pressure will be applied to those that don't comply
This thread is supposed to be about crypto currencies and yet here we are debating fiat currencies.

Since 2008 ALL govt's have been in a currency race to the bottom. Devaluation in order to inflate their way out of debt.

Fiat currencies are the biggest ponzi scheme going.

Govt's in collusion with central banks are stealing everyone's money. It's not even up for debate, it's a fact.
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Old Nov 27, 2017, 11:54pm   #27
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Originally Posted by counter_violent View Post
This thread is supposed to be about crypto currencies and yet here we are debating fiat currencies.

Since 2008 ALL govt's have been in a currency race to the bottom. Devaluation in order to inflate their way out of debt.

Fiat currencies are the biggest ponzi scheme going.

Govt's in collusion with central banks are stealing everyone's money. It's not even up for debate, it's a fact.
they sure are "stealing". It pays for the infrastructure and services we need. The race to the bottom is one of many tools central banks use to stimulate economies.2008 introduced a significant factor that was last felt in WW2. I am referring to the coordinated contractions.

Fiat money is a ponzi scheme only to the extent that it is created by banks in the form of credit. This is an intended design after the gold system. Without money creation we would be back to square one where we can't increase the supply. Banks play this crucial role and to most people its a scam but if this is the case then what is the solution? a system with a finite supply isn't the answer.
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Old Nov 28, 2017, 12:17am   #28
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they sure are "stealing". It pays for the infrastructure and services we need. The race to the bottom is one of many tools central banks use to stimulate economies.2008 introduced a significant factor that was last felt in WW2. I am referring to the coordinated contractions.

Fiat money is a ponzi scheme only to the extent that it is created by banks in the form of credit. This is an intended design after the gold system. Without money creation we would be back to square one where we can't increase the supply. Banks play this crucial role and to most people its a scam but if this is the case then what is the solution? a system with a finite supply isn't the answer.
That's why I think there is room for cryptos. Fiat ponzi which is not a store of wealth along side cryptos, gold, land, real estate etc. It's just another asset class which seems to have a following.
I can perfectly understand the hostility towards cryptos and many people will be burned, but there will also be those who clean up and bail at the right time. As with all things, winners and losers.
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Old Nov 28, 2017, 2:45pm   #29
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brewski1984 started this thread It seems almost certain that one day physical money will not exist and a digital global currency will. Something like bitcoin surely has to be the future but right now it's just being traded on emotions and herd mentality?
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Old Nov 28, 2017, 3:08pm   #30
 
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It seems almost certain that one day physical money will not exist and a digital global currency will. Something like bitcoin surely has to be the future but right now it's just being traded on emotions and herd mentality?
The problem is that bitcoin is not a currency, but a commodity... The limited supply is making it so... There is no incentive to spend it, just to hoard it... It will never be a global currency, unless you can deflate it to entice people to spend it...
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Old Nov 28, 2017, 11:00pm   #31
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Cryptocurrency has no intrinsic value unlike traditional currencies. In simplistic terms, it is just a digitised medium to facilitate financial transactions. In the case of Bitcoin, demand is fueled by speculation and since supply is capped this invariably drives the unit price upwards. However in any free market, opportunities attract threats in the form of surrogates e.g. Ethereum et al. Blockchain technology itself is not a barrier to entry for any commercial entity willing to commit resources in building an exchange. This means, the supply of exchanges offering crypto is only limited by the commercial opportunities. In other words, supply will eventually normalise pricing in the supply demand equation. Those holding a view that somehow Bitcoin would only have a one way trajectory should reexamine their rationale because when you have thousands of Bitcoin type crypto exchanges offering their own version of crypto what would happen to valuation? It simply boils down to supply and demand and the flip side is that the number of exchanges can be theoretically unlimited.

For those currently trading Bitcoin, I would ask just one simple question. What is your trade plan to exit your position be it to take profits or to protect your capital?
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Old Nov 29, 2017, 1:13pm   #32
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For those currently trading Bitcoin, I would ask just one simple question. What is your trade plan to exit your position be it to take profits or to protect your capital?
Nobody seems to want to answer that.

Like it or not though, as traders shouldn’t we be looking for opportunities to make money? Regardless of what Bitcoin actually is and how much it’s fundamentally worth it is surely being traded on emotion and herd mentality right now... isn’t there an opportunity to make money from that? It might be a bubble but if the whole world is driving the price up, shouldn’t us “traders” that have (hopefully) a little bit more knowledge than most of the world that hasn’t got a clue, use that to our advantage?

Which brokers offer Spreadbets on bitcoin? CMC don’t have it

Edit: I see etx capital offer it, does anyone use etx and what are they like?
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