More blockchain philosophy.

While bitcoin is not by any means a traditional corporate entity with earning statements and a board of directors, it could be seen as an equity in its own ecosystem whose value derives from the size and health of that community. What is clear is that if bitcoin is equity, it represents a radically different corporate form than has ever created before. It appears to be one of the first examples of what sociologist and organizational development specialist Frederic Laloux describes as a "teal organization": an organization with fluid hierarchy that is adaptive and rules-based where authority is decentralized and distributed among members. That such an organizational form would arise around a distributed ledger is perhaps not surprising but it does, nevertheless, represent a radical new experiment in human organization.

(My emphasis).

https://seekingalpha.com/article/4133095-bitcoin-birth-worlds-first-teal-equity

Laloux's book is called Reinventing Organizations: A Guide for Creating Organizations Inspired by the Next Stage of Human Consciousness.

Not tulips. The dawn of a revolution in human affairs that goes far, far beyond the daily price action of bitcoin.

It's a buyer's market... Or maybe wait and see.

unlike with regular currencies, where the least you can trade is 0.01 units. — Agustino

Not true. The Tunisian dinar has 0.001 units. Other countries had such units until relatively recently.

I should be a prophet...

By New Years' Eve or Christmas, it will have tanked, that's my prediction. Until then, it may reach 20-30K. Or it may tank sooner. The reason I'm saying that is that most people want to cash out for the holidays ;) - they don't want to be playing stocks on Christmas Eve. — Agustino

Pork bellies. You heard it here first.

Oh look Bitcoin just dropped 30%

Cryptocurrency....buy low....sell high. 8-)

It's a buyer's market... Or maybe wait and see. — Hanover

I'd go on the limb and say it's bull trap time...

Enjoy one of the really classic bubbles of our time. Right before our eyes.

Bubbles I have seen:
.com
Y2K
Housing
Crypto
Student Loan
Medical

Bitcoin has had these kind of swings before so we'll see. In any case, ownership of bitcoins is very concentrated with a few players. I suspect somebody made a killing on those futures, selling his coins to cause a downswing and then buying them again to fulfill his future contracts and earning a tidy spread.

Bitcoin has had these kind of swings before so we'll see. In any case, ownership of bitcoins is very concentrated with a few players. I suspect somebody made a killing on those futures, selling his coins to cause a downswing and then buying them again to fulfill his future contracts and earning a tidy spread. — Benkei

Already in 2013 was assumed that the creator(s) of Bitcoin had roughly about 1 million Bitcoin wealth. (See article The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator, Visionary and Genius) Several articles I've read have assumed this to be true. Ironically this makes the "currency" one of the most concentrated in the World with a central bank-type player which can intervene in the market and move it how it wants.

But what is totally obvious that now the currency has been on the hype-phase, that cannot be denied.

The reason I'm saying that is that most people want to cash out for the holidays ;) - they don't want to be playing stocks on Christmas Eve. — Agustino

buying them again to fulfill his future contracts a — Benkei

The futures are cash-settled. No bitcoins trade hands in the futures market. The futures are simply bets on the price of bitcoin.

I'd invest in the Bolivar. Buy low, sell high.

What? Then it isn't a future. What do you think is being traded on CME?

It's perfectly normal futures are bought and margin is settled in USD but at the end of the contract there's a promise to deliver bitcoin. Just like any other commodities future.

It's perfectly normal futures are bought and margin is settled in USD but at the end of the contract there's a promise to deliver bitcoin. Just like any other commodities future. — Benkei

"Bitcoin futures are financially-settled and therefore do not involve the exchange of bitcoin."

http://www.cmegroup.com/education/cme-bitcoin-futures-frequently-asked-questions.html

See paragraph #8. I do take your point about normal futures, soybeans and such, but evidently the CME and CBOE bitcoin futures don't work that way.

I'd invest in the Bolivar. — Hanover

Coming soon to a bankrupt empire near you.

See paragraph #8. I do take your point about normal futures, soybeans and such, but evidently the CME and CBOE bitcoin futures don't work that way. — fishfry

You're right. #8 could still be interpreted as just related to the trading of futures but paragraph 9 is even clearer on this in the settlement box.

https://www.facebook.com/cnbccrypto/videos/1584262131657027/

I ask because many people I know are ranting and raving about them but I remain skeptical. — JJJJS

Better place this question in a trading forum, wouldn't you think more professional advises or lures there?

So far I'm up 60%. Shame it took so long for me to get approved, as a work colleague who managed to buy in earlier is up 1000%.

So far I'm up 60%. — Michael

Woot Woot!

Congratulations with your first 6 dollars betting on a financial product. :P

I have no reason to trust the people who manage Bitcoin and neither can anyone else.
One thing for sure, these people are unimaginably rich in real money, not just BC.
Millions of people will lose lots of money and the people who manage BC are going to be the ones who rake it in.

Congratulations with your first 6 dollars betting on a financial product. — Benkei

$81.32, actually. £60 in real money.

So far I'm up 60%. — Michael

Have you converted your holdings back into cash and successfully moved it back into your bank account? You might be surprised at how difficult that is. Now imagine everyone wanting to get out at once.

Also, what were your total fees? To get in with cash, buy some btc. move it to a wallet, move it back from the wallet to an exchange, sell it, and move the cash back to your bank account? Probably 20% or more.

3.99% to buy/sell BTC with debit card. 0.25% fee to exchange BTC for other currencies.

And no, I haven't sold yet. No point for just £60. I'm going to hold long term and see what happens.

I haven't gone through all the posts, but my take is that cryptos are like the internet boom in the 90s. Generally, I think many will do well, but once the bubble bursts, there will only be few remaining which are reputable. If you own those few in the long run, you'll likely stand the chance of making some decent coin.. — dnote

Yes that's pretty much what's going to happen. The current phase is going to crash terribly and a lot of people are going to get hurt. It's not just the cryptos themselves, but the exchanges where you trade fiat for cryptos. There are a lot of shady and undercapitalized companies out there handling people's money. There's no regulation. When the crash comes, a lot of people are never going to get their money out.

This will be interesting to watch. I do believe blockchain technology will change the world in ways we can't even begin to imagine. But the current mania is going to end badly.

Just bought $100 worth. I might get some ripple too.

I couldn't read all comments, but I've seen those who are totally pleased with cryptocurrencies, like bitcoin. And there are lots of them, and a huge analyzing system.
I think it's opening door for future trading system. Good idea. Paper money buys nothing. I do welcome that, but couldn't risk yet. lol

I think that at this point Bitcoin is a huge risk. The concept of a cryptocurrency has value because it allows people to exchange money remotely without a third party. At this point bitcoin is as valuable as it is because it's the biggest cryptocurrency. Provided it maintains it's value it'll probably be the first one to be accepted by major businesses, but at some point it will be passed in quality. There are things like transaction speed and anonymity and others that newer cryptocurrencies are trying to code to be better so I think it would be wiser to invest in the smaller ones. Eventually bitcoin is going to fall and there is no telling when it will do so. But its possible bitcoin will be the driving force of cryptos. It might be a good investment up until the point where places like amazon accepts it, and starts accepting other cryptos as well. Its possible another one will unseat it before it gets to that point, but I doubt it. There's a lot of hype about it and the general public doesn't know much about the others so provided it doesn't implode, most people won't invest in the others. The biggest problem is getting it to the point where people want to spend it because most people buy it as an investment instead of a currency. That's why I bought Monero. It's incredibly anonymous and provided darknet markets start picking it up, its value will rise dramatically and it is closer to having actual utility in the real world than bitcoin is. One already started using it, but it got shut down so my hope is that process will repeat. I think that Bitcoin would be a good investment for a small part of a portfolio up until the point that major retailers start using it and others. If it collapses before then, its possible no cryptocurrency will ever reach that point. So yeah its a decent idea but if you were to start investing in cryptocurrencies I would diversify them beyond bitcoin