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The Bitcoin topic that Wd40 wanted :)

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The Bitcoin topic that Wd40 wanted :)

Postby Max Headroom » Thu, 07 Dec 2017 11:26 am

A thread dedicated to Bitcoin is a bit overdue, given its growing traction/bubble (take your pick) lately.

Plus, I'm curious why we hear so little about Bitcoin from a board in Singapore, which, after all, has both FinTech hub and Smart Nation ambitions. Surely Bitcoin, and cryptocurrencies in general, should be part of that drive. But whenever I come across Bitcoin in the media it's stated in a cautionary tone.

So whenever I get on a cab, about half a dozen times per week, I ask the driver if he or she has bought any Bitcoin yet. As of today, just two acknowledged getting some. Both were in their 30s.

About half of all others brushed it off as either too expensive or a fad. The other half hadn't even heard of it. Big coin? What big coin ah?

Looks like Singers has its work cut out?

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Re: The Bitcoin topic that Wd40 wanted :)

Postby Barnsley » Thu, 07 Dec 2017 12:04 pm

What is the purpose of it?

Is it just an alternative way of paying for something from outside of the controlled norm?

Is it just another asset?

What is it?

:-k :-k
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Re: The Bitcoin topic that Wd40 wanted :)

Postby PNGMK » Thu, 07 Dec 2017 12:51 pm

I see big disruption risks for BTC completely unrelated to a bubble or law enforcement. I'll list them.

1. Google/Apple/MSFT/GE launch a BTC clone but with their backing (and funds) behind it. I can't see this working with a sovereign nation behind it.

2. DAPP - Ethereum will fail (too many forks) but their idea of using blockchains for distributed apps with a built in Virtual Machine is a damn good idea. Something like this will come along (possible from 1). We will then see what a lot of us have waited for - true distibuted computing using the power of all the interconnected computers in the world. Cloud computing that doesn't move to blockchain will fall away except for the most dedicated users needed complete control.
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Re: The Bitcoin topic that Wd40 wanted :)

Postby Barnsley » Fri, 08 Dec 2017 11:02 am

Its certainly on the up and up!!
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Re: The Bitcoin topic that Wd40 wanted :)

Postby Strong Eagle » Fri, 08 Dec 2017 12:39 pm

Can you say, "Tulips?"

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Re: The Bitcoin topic that Wd40 wanted :)

Postby bgd » Fri, 08 Dec 2017 2:02 pm


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Re: The Bitcoin topic that Wd40 wanted :)

Postby Max Headroom » Sat, 09 Dec 2017 11:05 am

Strong Eagle wrote:Can you say, "Tulips?"


There are skeptics out there that, 20 years on, are still calling Amazon a bubble. I guess you've got about a decade to go :)

Not a Bitcoin fanboy, but I do know that at this stage it's not going to be easy to end this thing just on the basis of it being a bubble.

21 million : global demand = prized. Clearly, there will never be a glut of Bitcoins.

Sure, there are thousands of other cryptocurrencies. But they're not Bitcoin.

Besides, tulips are tulips. They're pretty, they smell nice and they make a nice gift. That's about it in terms of their utility. Have you read the Bitcoin White Paper?

That said, with all the speculators riding Bitcoin's tailcoats, there's bound to be a decent-sized bubble component in today's value. That component will likely decrease as the price discovery concludes, whenever that may be.

I doubt Bitcoin will end like the tulip bubble. Or any other bubble for that matter.

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Re: The Bitcoin topic that Wd40 wanted :)

Postby Strong Eagle » Sat, 09 Dec 2017 11:24 am

Does anybody know where I can short bitcoin?

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Re: The Bitcoin topic that Wd40 wanted :)

Postby Max Headroom » Sat, 09 Dec 2017 12:23 pm

I don't know how you could have missed it, it's everywhere: CME, CBOE.

But I suppose it kinda explains your earlier post :)

By the way, bring lots of money.

Let us know how you get on eh.

Good luck.

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Re: The Bitcoin topic that Wd40 wanted :)

Postby Strong Eagle » Sat, 09 Dec 2017 1:37 pm

Max Headroom wrote:I don't know how you could have missed it, it's everywhere: CME, CBOE.

But I suppose it kinda explains your earlier post :)

By the way, bring lots of money.

Let us know how you get on eh.

Good luck.


Ya think? Down 20 percent in 10 hours? Showing all the signs of blowing up... a bubble... there's not a damn thing supporting the value of bitcoin except for mindless speculators piling in, hoping to make a killing.

https://www.reuters.com/article/us-mark ... SKBN1E20HS

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Re: The Bitcoin topic that Wd40 wanted :)

Postby Max Headroom » Sun, 10 Dec 2017 11:04 am

Strong Eagle wrote:Ya think? Down 20 percent in 10 hours? Showing all the signs of blowing up... a bubble... there's not a damn thing supporting the value of bitcoin except for mindless speculators piling in, hoping to make a killing.


And you're going short Bitcoin with what objective? :P

But sure, Bitcoin's current value is unquestionably part speculation. And the weak hands may well get shaken out tomorrow, when Chicago's futures are unleashed. Some stop losses could get triggered, and hey presto, another correction.

However, I reckon you're wrong about there not being anything supporting Bitcoin's value. I believe that below the FOMO froth there's a disruptor aching to start disrupting.

Bottom line: Bitcoin will continue its upward trajectory. It's just too much of a game-changer not to.

But as it stands, Bitcoin is a bubble. And Bitcoin isn't a bubble. So we're both right.

I'm just a bit more right than you :)

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Re: The Bitcoin topic that Wd40 wanted :)

Postby Strong Eagle » Mon, 11 Dec 2017 3:42 am

Right before the great depression:

"Joe Kennedy exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good."

And every dog and his master is advertising on Facebook... get in on it now and get rich.

I shall follow the action.

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Re: The Bitcoin topic that Wd40 wanted :)

Postby PNGMK » Mon, 11 Dec 2017 8:01 am

I do think the 'right' blockchain application is yet to come and it's not BTC.
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Re: The Bitcoin topic that Wd40 wanted :)

Postby Wd40 » Tue, 12 Dec 2017 12:44 pm

I can trade bitcoin right now if I want. Bitcoin futures are available on Interactive brokers. Min contract size is 1 bitcoin.

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