Bitcoin Forum
October 17, 2017, 11:01:58 PM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: The cryptocurrency market is now all about speculation and a game of money  (Read 1267 times)
Doofus
Member
**
Offline Offline

Activity: 103


View Profile
May 11, 2017, 09:29:33 AM
 #1

A financial consultant Duan Hongbin who started investing in bitcoin in 2011 and altcoins in 2013 said the chinese cryptocurrency market is now all about speculation, especially in the altcoin market. price going up is just a bubble. http://news.8btc.com/the-cryptocurrency-market-is-now-all-about-speculation-and-a-game-of-money
he believes cryptocurrency is not the right investment for the middle-class. People who have nothing may give it a try, but those who are relatively rich should not seek high-risky investment. Plus, as the China Securities Regulatory Commission plans to fine the big three exchanges, it will be even tough to invest in this area.
1508281318
Hero Member
*
Offline Offline

Posts: 1508281318

View Profile Personal Message (Offline)

Ignore
1508281318
Reply with quote  #2

1508281318
Report to moderator
1508281318
Hero Member
*
Offline Offline

Posts: 1508281318

View Profile Personal Message (Offline)

Ignore
1508281318
Reply with quote  #2

1508281318
Report to moderator
1508281318
Hero Member
*
Offline Offline

Posts: 1508281318

View Profile Personal Message (Offline)

Ignore
1508281318
Reply with quote  #2

1508281318
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508281318
Hero Member
*
Offline Offline

Posts: 1508281318

View Profile Personal Message (Offline)

Ignore
1508281318
Reply with quote  #2

1508281318
Report to moderator
vatived22
Full Member
***
Offline Offline

Activity: 155


TokenStars.com/ACE ― tokenizing tennis stars


View Profile
May 11, 2017, 09:34:10 AM
 #2

Bitcoin itself was an experiment...ironically it was an experiment to became successful. Yes the market is about speculation, but tell me which other market is not? is it stock, forex...or what? i just think all investment has risk in them, the challenge for traditional investors to get into the crypto space is that the market is highly volatile, something that is less in stock. Nonetheless volatility can also be a blessing as well as a problem as long as you know what to do.

unamis76
Legendary
*
Offline Offline

Activity: 1372



View Profile
May 11, 2017, 09:37:22 AM
 #3

When was it not a game of speculation? Maybe back in the beginning when Bitcoin was worth cents... This guy is a bit confused:

Quote
Can they do any good to your real life? No, they can’t.

Words can't even express how ridiculous this is.

Quote
But for those who are already enviably rich, why get involved in such a complicated game?

This one's easy: to be even more rich... Which is what everyone who's rich wants.

I don't see references to the middle-class in the article, but if the guy indeed said that, I'll take his own words to prove him wrong:

Quote
Well, data is worth a thousand words.

Regarding fines to exchanges, do you have any sources on that?


           ▄▄▄▄▄▄▄▄       ▄▄▄
       ▄▄████████████▄▄    ▀██▄▄
     ▄██████████████████▄    ▀███▄
    ██████████████████████    ████▄
   ██▀▀▀      ▀▀▀██████████    █████
  █▀              ▀███████▀    ██████
 █▀    ▄▄▄▄        ▀████▀▀     ██████
     ▄██████▄                 ▄██████
    ██████████               ▄███████
   ███████████              ▄████████
  █████████▀▀             ▄▄█████████
 ▄████████               ███████████
 ████████                ▀████████▀
 ██████      ▄▄▄▄         ▀█████
  █████     ██████                 
  ██████     ███████▄              ▄█▀
   █████     ██████████▄▄       ▄▄██▀
    ████      █████████████████████▀
     ▀███      ▀█████████████████▀
       ▀██       ▀▀██████████▀▀
         ▀▀          ▀▀▀▀▀▀




BITMIXCOIN
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
.
  ..Safe................................
  ..Anonymous....................
  ..Insurance against fraud.....
LFC_Bitcoin
Legendary
*
Offline Offline

Activity: 1134


★777Coin.com★ Fun BTC Casino!


View Profile
May 11, 2017, 09:42:43 AM
 #4

Load of crap, Duang Honbin's views need to be put in the bin. So much wrong wth those views I don't know where to start.

Dorky
Sr. Member
****
Offline Offline

Activity: 336


Genesis Vision


View Profile
May 11, 2017, 09:47:34 AM
 #5

It is my knowledge that bitcoin was an innovation of the international banksters that helped me made very wise investment decisions.

If I still have money, I would buy even if the price is $10,000.

talkbitcoin
Hero Member
*****
Offline Offline

Activity: 770


View Profile
May 11, 2017, 09:52:20 AM
 #6

Load of crap, Duang Honbin's views need to be put in the bin. So much wrong wth those views I don't know where to start.

i couldn't agree more.
these days 8btc seems to be publishing a lot of these low value articles about so called "investors" who are repeating practically the same thing about bitcoin and call it an investment which is not good!
and apparently none of them even know that bitcoin is a currency first then an investment. specially these days that big countries are adopting it as a currency, not calling it as an investment.














 

 

█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
BitBlender 

 













 















 












 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
Doofus
Member
**
Offline Offline

Activity: 103


View Profile
May 11, 2017, 10:09:23 AM
 #7

Load of crap, Duang Honbin's views need to be put in the bin. So much wrong wth those views I don't know where to start.

i couldn't agree more.
these days 8btc seems to be publishing a lot of these low value articles about so called "investors" who are repeating practically the same thing about bitcoin and call it an investment which is not good!
and apparently none of them even know that bitcoin is a currency first then an investment. specially these days that big countries are adopting it as a currency, not calling it as an investment.
it only shows that chinese bitcoin players are very anxious now. they made a bubble themselves, and now they are desperately seeking a way out. it's not about the quality of their views, coz they people were once deeply involved in this area too, but now they realized maybe they are not right person to be part of this revolution. i think it's great for these doubters to leave. people who have faith will stay in the community. just have some patience.
Sniper44
Hero Member
*****
Offline Offline

Activity: 644


View Profile
May 11, 2017, 10:12:41 AM
 #8

Load of crap, Duang Honbin's views need to be put in the bin. So much wrong wth those views I don't know where to start.

i couldn't agree more.
these days 8btc seems to be publishing a lot of these low value articles about so called "investors" who are repeating practically the same thing about bitcoin and call it an investment which is not good!
and apparently none of them even know that bitcoin is a currency first then an investment. specially these days that big countries are adopting it as a currency, not calling it as an investment.
it only shows that chinese bitcoin players are very anxious now. they made a bubble themselves, and now they are desperately seeking a way out. it's not about the quality of their views, coz they people were once deeply involved in this area too, but now they realized maybe they are not right person to be part of this revolution. i think it's great for these doubters to leave. people who have faith will stay in the community. just have some patience.

what bubble are you talking about, Chinese have been out of the market for some time now. their exchanges are practically closed down with no deposit and withdrawals and also the price coming from Chinese exchanges shows they are far behind the rest of the world since they are already around $1400 while we are seeing $1870 in other markets.

on a vacation and missing out on all the fun Sad
iqlimasyadiqa
Hero Member
*****
Offline Offline

Activity: 980


View Profile
May 11, 2017, 10:16:17 AM
 #9

I'm not very sure of what he's saying, the digital currency market is so having a good future. We know that in the future everything will be all digital. And over time cash money will be abandoned. The digital financial market is controlled by all of us.

                        ▄▄▄ ▄▄▄
   ▄████▄             ▄█████████▄
 ▄████████▄         ▄███████████▀
███████████       ▄██████████████
▀██████████▄  ▄▄▄ ▀█████████████▀
  ▀███████████████▄ ▀█████████▀
       ▀████████████▄ ▀█████▀
        ▄█████████████▄ ▀▀▀
       █████████████████
        ▀██████████████▌
    ▄████▄▀██████████████▄
  ▄████████▄▀█████████████▌
 ████████████ ▀▀▀  ▀█████▀▄███▄
 ▄██████████▀        ▀▀▀▄███████▄
  ▀███████▀             █████████
    ▀▀ ▀▀                ▀█████▀
                           ▀▀▀
.
XENIO









......BLOCKCHAIN FOR GAMERS......
▬▬▬▬▬ ⬢ ⬢ ▬▬▬▬▬▬▬ ⬢ ⬢ ▬▬▬▬▬▬▬ ⬢ ⬢ ▬▬▬▬▬▬▬ ⬢ ⬢ ▬▬▬▬▬▬▬ ⬢ ⬢ ▬▬▬▬▬
TWITTER   REDDIT   FACEBOOK   SLACK


















merchantofzeny
Full Member
***
Offline Offline

Activity: 238


I'm honest, it's the world that's awful


View Profile
May 11, 2017, 08:40:50 PM
 #10

Coming from a country where it's still not widely known, I would say that there is some speculation involved. People are attracted at what they see is a large and increasing conversion rate (already around 87k converted to my currency) and that's why they're starting to buy into it - they're anticipating profits they'd make when they cash out their investment.
Taki
Hero Member
*****
Offline Offline

Activity: 546


View Profile
May 11, 2017, 08:52:22 PM
 #11

Well, of course I am agree that investment in altcoins and crypto currencies is not for the middle class of society.  I have heard that people are making big money on speculation, just you need to know which currency will pump and not every human can do that.
This week my husband suggested to put all our money that we are saving for a house 11000 Evro in altcoins and to wait some seriouse grow that will get doubble our money. But by my opinion is too risky, cause of in negative case we will stay with naked ass. And how people know in which altcoin to invest at all?! Huh

European Central Bank
Hero Member
*****
Online Online

Activity: 756



View Profile
May 11, 2017, 08:55:54 PM
 #12

there basically is no chinese cryptocurrency market right now. if this idiot doesn't know this then why should we listen to anything else?

and of course it's about greed. no one's here out of the goodness of their hearts.

       ▀
   ▄▄▄   ▄▀
   ███ ▄▄▄▄  ██
       ████
    ▄  ▀▀▀▀
▄▄
      ██    ▀▀
██▄█▄▄▄████████
▄▄▄▄▄▄▄▄▀▀███▀▀▀
██████████████████
████▄▀▄▀▄▀███▀▀▀▀▀
████▄▀▄▀▄▀███ ▀
████▄▀▄▀▄▀████████
▀█████████████████
]
,CoinPayments,
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
Rockstar Drummer
Newbie
*
Offline Offline

Activity: 6

Professional touring drummer


View Profile
May 11, 2017, 09:48:10 PM
 #13

The average Chinese worker only makes about the equivalent of around $430.00 U.S. a month!!!....

And he's saying that only people who have nothing should give it a try???

Riiiiiiiiiiight .............  Roll Eyes

Professional Touring Rock Drummer
Hydrogen
Hero Member
*****
Offline Offline

Activity: 574



View Profile
May 11, 2017, 10:11:45 PM
 #14

Almost every financial analyst, economist and "expert" portrayed on the media is a paid advertisement.

They repeat only things bankers want them to say.

There are no objective breakdowns or analysis on any topic.

avikz
Hero Member
*****
Offline Offline

Activity: 686



View Profile
May 11, 2017, 10:24:44 PM
 #15

A financial consultant Duan Hongbin who started investing in bitcoin in 2011 and altcoins in 2013 said the chinese cryptocurrency market is now all about speculation, especially in the altcoin market. price going up is just a bubble. http://news.8btc.com/the-cryptocurrency-market-is-now-all-about-speculation-and-a-game-of-money
he believes cryptocurrency is not the right investment for the middle-class. People who have nothing may give it a try, but those who are relatively rich should not seek high-risky investment. Plus, as the China Securities Regulatory Commission plans to fine the big three exchanges, it will be even tough to invest in this area.

Crypto currency trading was always a game of speculations. Trading as a whole was always about speculation and nothing else. Investment always depends on the risk taking capability of an individual. So middle class or richer class doesn't matter. Middle class will invest only to the amount which they would feel safe, richer class may invest more as their risk taking capability will be obviously higher than others.

Risk and investment goes hand in hand. Even government back investment instrument carries a certain amount of risk. I believe the financial consultant is just trying to discourage people from investing in bitcoin. Take calculated risk on bitcoin and I am sure you won't regret.

emezh10
Sr. Member
****
Offline Offline

Activity: 462



View Profile
May 11, 2017, 10:31:58 PM
 #16

there basically is no chinese cryptocurrency market right now. if this idiot doesn't know this then why should we listen to anything else?

and of course it's about greed. no one's here out of the goodness of their hearts.
Yes i believe there is no chinese cryoticurrency in the market just let them invest in bitcoin or in the altcoins but for me altcoins investment is a good one this days its not for just middle class you can invest when ever you like and yes it is risky in many times but also can lead to a success but maybe they are just being paid in advertising so they can say such as nonsence.

CENTRA

            ▄▄▄██████████▄▄▄
        ▄▄████████████████████▄▄
      ▄███████▀▀         ▀▀███████▄
    ▄█████▀                  ▀██████
   █████▀      ▄▄▄█████▄▄      ▀█████▄
  █████     ▄██████████████▄     ▀████▄
 █████     ██████▀▀  ▀▀██████▄    ▀████
▐████     █████          █████     █████
█████    ▐████                     ▐████
█████    █████                     ▐████
█████     █████          ▄████▌    █████
 ████▌    ▀█████▄▄    ▄▄█████▀    ▄████▌
 ▀████▄     ▀██████████████▀     ▄████▀
  ▀█████▄     `▀████████▀▀     ▄█████▀
   `██████▄                  ▄██████
     ▀███████▄▄          ▄▄███████▀
       ▀██████████████████████▀
           ▀▀▀█████████████▀▀

.
.
.
.
Yakamoto
Legendary
*
Offline Offline

Activity: 910


View Profile
May 11, 2017, 10:53:11 PM
 #17

A financial consultant Duan Hongbin who started investing in bitcoin in 2011 and altcoins in 2013 said the chinese cryptocurrency market is now all about speculation, especially in the altcoin market. price going up is just a bubble. http://news.8btc.com/the-cryptocurrency-market-is-now-all-about-speculation-and-a-game-of-money
he believes cryptocurrency is not the right investment for the middle-class. People who have nothing may give it a try, but those who are relatively rich should not seek high-risky investment. Plus, as the China Securities Regulatory Commission plans to fine the big three exchanges, it will be even tough to invest in this area.
Well he's not wrong in the slightest and he's telling the truth.

The altcoin markets are essentially just a game of timing and there isn't much of a rhyme or reason for them moving in one way or another; just pump n dumps for everything that is basically not in the top 10 market-cap cryptos. A large majority of them are just weak attempts at making something new, and they are honestly worth next to nothing.

Even in the top 10, past top 3 you're not finding anything new. Just timing.














 

 

█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
BitBlender 

 













 















 












 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
shield132
Hero Member
*****
Offline Offline

Activity: 532


Watch Agents Of Shield On ABC


View Profile
May 11, 2017, 11:00:58 PM
 #18

In reality not only cryptocurrency but USD and every currency is game of money where big players (I mean controllers) win. Suddenly it was like this and it's still like this. Some people thought they found hope in cryptocurrency and maybe at first it wasn't manipulated but let's think. When okcoin stopped withdrawals, price fall down. Any visible small issue from top exchangers affects price immediatelt and that's game of money to my mind.

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄             
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄       
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
▀▄            █        ▀▀      █   
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀     
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀               
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
MingLee
Sr. Member
****
Offline Offline

Activity: 462


View Profile
May 11, 2017, 11:19:30 PM
 #19

A financial consultant Duan Hongbin who started investing in bitcoin in 2011 and altcoins in 2013 said the chinese cryptocurrency market is now all about speculation, especially in the altcoin market. price going up is just a bubble. http://news.8btc.com/the-cryptocurrency-market-is-now-all-about-speculation-and-a-game-of-money
he believes cryptocurrency is not the right investment for the middle-class. People who have nothing may give it a try, but those who are relatively rich should not seek high-risky investment. Plus, as the China Securities Regulatory Commission plans to fine the big three exchanges, it will be even tough to invest in this area.
The altcoin market is literally about gambling for anything with under a $100m market cap though. He's completely right and considering that he's been doing this for so long he knows exactly how bad the market is and how random it can be at times.
It's all about pump-n-dumps now. There is next to no basis for half the alts and they're all (>98%) pretty bad. It's not wroth getting into them because none of the trade signals are consistent and something that is performing fine will likely get hit by a dump days later, at best.
xuan87
Legendary
*
Offline Offline

Activity: 1134



View Profile
May 11, 2017, 11:47:17 PM
 #20

I have to agree, nowadays people seldom using bitcoin for transaction now they are more attracted to used bitcoin as investment and find a way to get more profit using bitcoin, not only bitcoin but also alt coins, but I think bitcoin investment is suitable for everyone whether it is middle class or rich person just need to be careful when you want to invest
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!