One of the co-founders of bitcoin.com has sold all of his bitcoin

originally posted by: pavil

originally posted by: whywhynot
Hmmm, may be the right time to get out of Bitcoin.

It constantly amazes me that historically, even though people see a bubble forming, they ignore the huge rise and think it will go on forever.

Someone's going to make a killing. Chances are it won't be the average investor.

Remember how Goldman Sach and all the others intentionally built up the real estate bubble, selling the derivatives while they were covering themselves with Credit default swaps? They made money both ways and got govt assistance too.

I lived near Reno, NV for many years. It just amazed me in the same way that people would constantly shove coins into the one armed bandits. I guess greed causes the eyes to roll back and the brain to stop working.

I see the days to come, where Crypto's like BitCoin will have transaction fees so high that the illegal immigrant/dope smuggler/human trafficker will have been long-gone from using the public Transfer Agents that no longer offer Tax-Free an·o·nym·i·ty for the Crypto cash-out protocol

just the threat of money seizures for RICO law-breaking cash dumps/transfers will cause these trading platforms to self-Police themselves...the modern 'Pawn Shop' arrangements with law enforcement are an accurate example


bitcoin will sow the seeds for Its' own demise---
until the set up of a global Hawala: www.ibtimes.com...

Hawala is a method of value transfer system that relies on a network of brokers to send money to various locations instantaneously and without a paper trail. The ancient system used especially in the Muslim world is convenient for its users, but difficult for those looking to track them down.

Basically, a person can transfer money from one location to another by depositing money with a local agent, who calls their counterpart abroad. Then, the recipient will collect their cash from this second person instantly and the two agents settle their accounts later.

“It’s mostly secure, it’s relatively anonymous and it’s also convenient for those who don’t want to deal with the scrutiny or due diligence procedures of banks,” Clarke said.

The networks tend to be long-established, based on family relationships or regional affiliations, and broker reputations are built mainly on trust. While this method is sometimes referred to as “underground,” it’s often used for legitimate reasons and even advertised, according to a report from the U.S. Treasury.

Crypto's got a lot to learn from the ancient traditions like Islamic “Instead of a banker you have a hawalador,”

I have always seen Bitcoin as an unviable source of currency and investment. With this dramatic rise in value as of late, I have been telling my friend that he should really consider taking the profits and running--this just kind of reinforces that.

I don't see the Bitcoin Cash being much better over time--the reasons given don't seem to hold water as a good enough reason to abandon the coin in lieu of cash, as it sounds like a process that could be bettered pretty easily.

I think that he's moving from one scam to another, and we'll eventually see him selling all of that, too, as people follow suit and increase the value of the cash to a point where he'll sell at a high point as well.

I see this as being very shady, IMO. I'm no expert on cryptocurrency, but to be honest, I think that gives me the ability to be a better observer of the whole picture since I'm on the outside looking in.

originally posted by: Metallicus
a reply to: liejunkie01

When your grandparents, barber and checkout clerk are all talking about and buying Bitcoin it is time to get the hell out. This is based on my experience of 30+ years investing in the market.

Lol.

Spot on assessment though.

Bitcoin is crashing down -$6,486 according to coinbase.

Bitcoin cash is crashing down $1,541.

Both Ethereum and litecoin are also down.

I'd hate to be one of those idiots that took out a second mortage to buy bitcoin.

They lost their snips.

a reply to: neo96

Plenty of conspiracy around this one, but yea, never invest more than you're prepared to lose.

originally posted by: neo96
Bitcoin is crashing down -$6,486 according to coinbase.

Bitcoin cash is crashing down $1,541.

Both Ethereum and litecoin are also down.

I'd hate to be one of those idiots that took out a second mortage to buy bitcoin.

They lost their snips.

I might buy a little bit after the holidays.

Don't have the extra cash now.

a reply to: liejunkie01

I am going to dollar cost average it(monthly), and rotate between 7 different cryptos.

By 2019 I should have a pretty decent stake without the significant cash outlay.

The movement creates opportunity.

Market trade up and down. That is what they do.

I'm not phased. I've got a regular job so the income keeps coming in.

I truly believe this crypto bull thing is going to continue in the new year. Traders need something to do until mid May.

a reply to: neo96

Can I ask which site you trade with?

I've been looking around a little.

a reply to: liejunkie01

Coinbase and Poloniex.

a reply to: neo96

Sounds like a solid plan, that is similar to what I'm doing.

I am going to dollar cost average it(monthly), and rotate between 7 different cryptos.

By 2019 I should have a pretty decent stake without the significant cash outlay.

Same here, but 10 different currencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple (XRP), Iota, Cardano (ADA), Monero (XMR), Stellar (XLM), and Quantum (QTUM).

Coinbase and Poloniex.

I didn't see Cardano, Quantum, or Iota as options on Poloniex (so guessing those are the 3 in addition to your 7, lol)....

a reply to: Gazrok

OMG I remember when you first introduced the readers to bitcoin currency and jumped into major discussions about it. Looks like you jumped in at the right time and did quite well for yourself!

Nope, I should have dove in way back then, but couldn't afford to do so (or thought I couldn't), there are many others here far more into it than I am, and know much, much more since I last talked about this.

I'm just newly invested into it myself financially. (but after a long time of research as it was soaring, heading for a correction).

That's when I was looking to buy, and did. But, it's still got some more crashing to do, it seems. I expected the SK turnabout, and for the market to then recover from it....but I didn't expect the stories about China and the implications for Binance. I expect it to be a rough week, and quite the roller coaster ride.

I have certain points where I'll consider buying some key cryptos even as they fall, but otherwise, just sitting tight myself.

did quite well for yourself!

Remains to be seen....lol