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Question: In a Bitcoin Disaster where would you move your Money?
Back to Fiat (USD,EUR,CNY,JPY,etc..)
Into the majority chain
Into Ethereum
Into Ripple
Into Litecoin
Into Monero
Into Dash

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Author Topic: In a Bitcoin Disaster where would you move your Money?  (Read 7399 times)
deisik
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January 27, 2017, 07:23:57 PM
 #141

What did you not understand in my post about what a zero-sum game is?

If you come to disagree with that, bring forth your arguments. So far you only claim that I don't know what it is and then continue to explain what is an efficient market (how it is written in Wiki). Obviously, this won't do. And while you are trying to look for a flaw in my definition (there's none), don't forget to explain what efficient market has to do at all with a zero-sum game market. Just in case, an oil market is not a zero sum game (since oil is a consumable commodity), and by claiming to the contrary, you pretty much reveal that you don't in fact understand the essence of a zero-sum game
You are such a smartass, but you dont know what you are talking about.

If you refer to the oil as being consumable well then the same way bitcoin is also a consumable, because a lot of coins get burned

You don't get profits by burning your bitcoins, so it will remain a win-lose outcome. That seems to be the thing that you can't grasp. Folks (well, companies) buy oil not to sell it at the same market for speculation purposes but to process it further into something else (e.g. gasoline) and then either sell what they produced from it to retail consumers (e.g. car owners), or consume the products directly by themselves (e.g. to fill the company's needs in fuel or whatever), without reselling them

Obviously, this will be a win-win situation unlike a zero-sum game

But zero sum has nothing to do with the quality of the asset. It only means that the market is efficient, and that people only shuffle money around to one another, and nothing is produced

Market being (not) efficient and a zero-sum market are totally different concepts. In practice, there are no efficient markets, but whichever markets do really exist out there, they can be either a zero-sum market (e.g. Bitcoin market mostly) or non-zero sum market (e.g. any commodity market)

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January 27, 2017, 08:38:03 PM
 #142

Even if I can not predict such a situation, it would have been very difficult indeed. But I can say that there is no confidence in the market. I think that if bitcoin is a disaster, it will be affected in altcoin. I think it would make sense to watch the reaction of the markets in the future, as it would be reasonable to have the money with us or keep it in the bank. But I think bitcoin will stay for many years, I hope we are wrong in this case.





romanticks
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January 27, 2017, 09:21:53 PM
 #143

I would say to gold (which is close to fiat, but not the same lol), if BTC is in a bad situation I doubt crypto's would be able to maintain a safe market for those trying to move away for bitcoin.. I think moving out until everything settles is the best choice..
HarringtonStark
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January 28, 2017, 01:24:40 AM
 #144

I will simply exchange it to $ and then keep until the problem is fixed and then I will buy bit coins again.

BitFinnese
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January 28, 2017, 11:37:20 AM
 #145

I will simply exchange it to $ and then keep until the problem is fixed and then I will buy bit coins again.

Simple but strong strategy, cutting losses by shorting and getting profit by buying once a recovery is shown. I would do the same too, I will convert it to my own currency and when someone picked up the broken bitcoin to develop and establish it again. I will gladly be the one to buy it again at the lowest possible price before bitcoin price started to rise again.
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January 28, 2017, 05:06:18 PM
 #146


You don't get profits by burning your bitcoins, so it will remain a win-lose outcome. That seems to be the thing that you can't grasp. Folks (well, companies) buy oil not to sell it at the same market for speculation purposes but to process it further into something else (e.g. gasoline) and then either sell what they produced from it to retail consumers (e.g. car owners), or consume the products directly by themselves (e.g. to fill the company's needs in fuel or whatever), without reselling them

Obviously, this will be a win-win situation unlike a zero-sum game


No it's the same analogy.

Oil companies get profits by reselling oil, but the consumer "burns" it, literally and figuratively.

Bitcoin companies get profits by reselling bts (or charging comissions at exchanges for trading), while the btc user might acidentally burn his coins by losing password.


It's the same analogy, it's the same thing. Overall both markets are deflationary (as oil reserves can run out at some point), but still the market itself is a zero sum game, despite being some companies that make consistent profit.


The only way to make consistent profit is to eliminate the risk, and go for a guaranteed income. Comissions are the best bet. While the other users are just zero sum users who just shuffle the money around from 1 hand to the other.





Market being (not) efficient and a zero-sum market are totally different concepts. In practice, there are no efficient markets, but whichever markets do really exist out there, they can be either a zero-sum market (e.g. Bitcoin market mostly) or non-zero sum market (e.g. any commodity market)
All markets with sufficient trading volume are efficient by definition.

Does information exist that can make people guaranteed profits? Sure, but only if they are not public (insider info).

Otherwise all public information is priced in the market, and while sometimes people can score big on trading, it's technically no different than a gambler scoring big.

llanillo
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January 28, 2017, 08:29:59 PM
 #147

I will simply exchange it to $ and then keep until the problem is fixed and then I will buy bit coins again.

Simple but strong strategy, cutting losses by shorting and getting profit by buying once a recovery is shown. I would do the same too, I will convert it to my own currency and when someone picked up the broken bitcoin to develop and establish it again. I will gladly be the one to buy it again at the lowest possible price before bitcoin price started to rise again.

Converting them to fiat can be a good strategy but it won't grow your money in long run so I would prefer to invest some of it in altcoins and a part of it in gold where it will allow me to make some profits in long term and would prefer to buy again when the price of bitcoin drops in near future.

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January 28, 2017, 08:35:10 PM
 #148

Converting them to fiat can be a good strategy
It is way far from being called a strategy.The most common and the dumbest thing to do is liquidate to fiat.Do you imae how hard the bitcoin woud fall ? Whales say it would take years to pick up again.Imagine the scenario,everyone liquidating their bitcoins.Exchanges taking control over the network ?

but it won't grow your money in long run so I would prefer to invest some of it in altcoins and a part of it in gold where it will allow me to make some profits in long term and would prefer to buy again when the price of bitcoin drops in near future.
The question is not about making profits jackass.What picture of bitcoin do you even have in your head ? A indestructible source  of making money ?

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