The Bitcoin topic that Wd40 wanted :)

[Strong Eagle]

https://www.reuters.com/article/us-sing ... SKBN1ED151

[Max Headroom]

That's the beauty of bubbles, they tend to self-correct

[halfbutterkimura]

Bubble or not, surely those who took action would have gotten some money (or lost some). Guess it's about knowing what you're getting into and not losing your pants

[Frankieoh]

Any promising ICO that you know so far? I have got into Krios and Current and I'm looking for another investment.

[halfbutterkimura]

Not looking at ICOs, all the best to you good sir!

[Max Headroom]

ICO = IOU. Inevitably.

There may have been a few legitimate ICOs way at the start. But too many get-rich-quick scammers subsequently jumped on the bandwagon, out to take your cash and not much else.

I read that about half of all of last year's ICOs have already folded.

[PNGMK]

ICO = IOU. Inevitably.

There may have been a few legitimate ICOs way at the start. But too many get-rich-quick scammers subsequently jumped on the bandwagon, out to take your cash and not much else.

I read that about half of all of last year's ICOs have already folded.

Agreed. Multiple ICO founders have disappeared....

[DebS1]

Hi - had a cople of questions on cryptocurrency =
1. is it legal for any expat to buy and sell bitcoins in Singapore, if one is on employment pass as a tax resident ?
2. If profits are made are they taxable (income tax) ?
3. Which crypto exchange to trade from and how to connect your bank account to the trading exchange ?

[Max Headroom]

Does anybody know where I can short bitcoin?

How did you get on, SE?

[ProvenPracticalFlexible]

Bitcoin over 33kusd today, that's some crazy jump, tripled in 3 months. I think I need to find access to that account I had 3-4 years ago. Not much left there but something I had and now at least could buy a good meal with drinks with it

[PNGMK]

Nuts

[Max Headroom]

"Nuts" is a euphemism for "I was wrong on ETH and BTC and I'm now thinking there may be some real-world utility to both of them after all"?



There's also a certain feathered friend, conspicuously present at the start of this thread but now rather conspicuously absent, whose opinion, amended or otherwise, I'm quite keen to hear...

[Max Headroom]

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.

How are you liking the action, SE?

[Strong Eagle]

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.

How are you liking the action, SE?

Ahhh, yes... Bitcoin has reached new highs... and one might wonder why. After all, Bitcoin has no intrinsic value whatsoever. Therefore, it relies entirely upon the greater fool theory in order to appreciate in "value".

But, that appreciation is skewed and controlled by a handful of "whales" who own large chunks of shitcoin. It's a variety of the pump and dump schemes found with penny stocks. Run a bunch of transactions to start the price moving upwards to get the rubes who want to get in on a good deal. Keep on pumping as the price climbs, carefully watching for that breaking point.

Then sell, sell, sell. The whales take profits and the rubes are left holding the bag... just like all the last cycles. And fall it will... there is no intrinisic value.

Shitcoin is also rising because it has been somewhat legitimized by the decisions allowing it to be traded on exchanges. But the whales are already on the hunt and the exchanges will make it even easier to dump no value "shares" onto the rubes.

It aint gravity and still, when it comes to shitcoin, what goes up must come down. The big players will cash in, the rubes will get burned.

[tiktok]

Put your money where your mouth is!
Gold doesn't have intrinsic value either. The value of money is based on your trust in the government that created it.
Bitcoin is a recognised store of value that is independent of governments and banks. More durable and scarce than gold. That's why it will keep going up.
And yes I do own some.