Fear of missing out

This is a discussion on Fear of missing out within the Cryptocurrencies forums, part of the Markets category; I guess not profitable for a small timer to mine it anymore? That ship has sailed?...

Reply
 
LinkBack Thread Tools Search this Thread
Old Nov 29, 2017, 3:10pm   #33
 
piphoe's Avatar
Joined Oct 2015
I guess not profitable for a small timer to mine it anymore? That ship has sailed?
piphoe is offline   Reply With Quote
Old Nov 29, 2017, 3:22pm   #34
Joined Sep 2010
brewski1984 started this thread Smashed through 10k and now 11k, might not understand or agree with it but there’s got to be opportunity there right?
brewski1984 is offline   Reply With Quote
Old Nov 29, 2017, 3:45pm   #35
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by brewski1984 View Post

Which brokers offer Spreadbets on bitcoin? CMC don’t have it
That's the problem isn't it?

There are no regulated exchanges with the government protection where you can transfer let's say 6 digits account, so you can start to trade and make money...
Your risk is that the exchange can get hacked tomorrow or the owner can disappear with the money or worst you can be a victim of market manipulation and lose it all with no way of getting your money back...
Even the comparison with the dot com bubble is not good, because we traded on the regulated market and we were protected by the government and this is not the case here, so I don't care if it goes to 1 mil tomorrow or next year, I am not risking my hard earned money for this when I have much better choices...
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is online now   Reply With Quote
Old Nov 29, 2017, 3:48pm   #36
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by piphoe View Post
I guess not profitable for a small timer to mine it anymore? That ship has sailed?
Only if you have free electricity...
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is online now   Reply With Quote
Old Nov 29, 2017, 4:01pm   #37
 
piphoe's Avatar
Joined Oct 2015
Quote:
Originally Posted by Quantt View Post
Only if you have free electricity...
How many bitcoins are actually out there now? How many more can reasonably be mined?

I know NOTHING about it.
piphoe is offline   Reply With Quote
Old Nov 29, 2017, 4:38pm   #38
Joined Sep 2010
brewski1984 started this thread
Quote:
Originally Posted by Quantt View Post
That's the problem isn't it?

There are no regulated exchanges with the government protection where you can transfer let's say 6 digits account, so you can start to trade and make money...
Your risk is that the exchange can get hacked tomorrow or the owner can disappear with the money or worst you can be a victim of market manipulation and lose it all with no way of getting your money back...
Even the comparison with the dot com bubble is not good, because we traded on the regulated market and we were protected by the government and this is not the case here, so I don't care if it goes to 1 mil tomorrow or next year, I am not risking my hard earned money for this when I have much better choices...
If you've got 6 digits to put in an account, surely it's worth buying just 1 Bitcoin for a small punt? There are a few spread betting brokers that offer it and it seems a far less riskier way to trade it than actually buying one provided you don't abuse leverage (Brewski!). I haven't looked into how wide the spreads are or the costs involved to see if it's an efficient way but at least you won't get hacked. I fully understand that for people focusing on risk it makes absolutely no sense.

Quote:
Originally Posted by piphoe View Post
How many bitcoins are actually out there now? How many more can reasonably be mined?

I know NOTHING about it.
I thought there was only a certain amount but apparently there's hard forks where they can just decide to split it and double it?
brewski1984 is offline   Reply With Quote
Old Nov 29, 2017, 4:48pm   #39
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by piphoe View Post
How many bitcoins are actually out there now? How many more can reasonably be mined?

I know NOTHING about it.
https://en.bitcoin.it/wiki/Controlled_supply

The more interesting question is how many were given for "free" in the begging and how many are being held by Satoshi and others like him...

As you know by now, I am quite a bit paranoid when it comes to the internet security (part of the job description), so I wont be surprised one bit, if the whole thing is in fact a CIA operation in order to combat terrorist (and criminal in some cases) financing with the illusion of border/government free and untraceable currency (which is a quite a contradiction to the block chain technology powering the whole thing)... Very very similar MO to the dark web tor browser made by the US Naval intelligence
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is online now   Reply With Quote
Old Nov 29, 2017, 4:55pm   #40
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by brewski1984 View Post
If you've got 6 digits to put in an account, surely it's worth buying just 1 Bitcoin for a small punt? There are a few spread betting brokers that offer it and it seems a far less riskier way to trade it than actually buying one provided you don't abuse leverage (Brewski!).
It is against my principals to gamble like that, so buying or not one bit coin will not change my life one way or the other, not to mention if I bought 1 for let's say $30, I would have sold it already long time ago... for the ultimate gambling reward I am in my office lottery pool and diligently putting my $2 every week...

Frankly, I don't know how spread betting actually works, looks like English thing, so I cannot comment on it, I was talking about straight trading bit coins on actual exchange... not to mention one of my other rules is to not use leverage, so right here it is a no go for me...
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is online now   Reply With Quote
Thanks! The following members like this post: brewski1984
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Article: On Fear T2W Bot Educational Resources 23 Jun 24, 2017 9:54am
Fear bbmac Psychology, Risk & Money Management 3 Jun 25, 2012 11:24am
Where has all the fear gone? Dommo General Trading Chat 18 Dec 4, 2010 9:30pm
Fear of missing a move Joe Ross Psychology, Risk & Money Management 0 Nov 27, 2009 8:37pm
Fear of missing “the big one” Joe Ross General Trading Chat 33 Nov 1, 2006 9:41pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)