Quote:
Originally Posted by PR_Glen
I can go along with that, seems to make sense. You at least have the ability to discuss it with an open mind and can admit the risks.
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Well, I'll admit that I'm biased against Bitcoin as a currency (I think it's got no chance of staying anonymous, and if that's the case, then why use it?) but I try to keep an open mind. I'm willing to listen to the pro-Bitcoin crowd, but I use my own judgment to make decisions.
I've been happy to participate in the Bitcoin bubble, but I believe it's just that: a bubble, bound to collapse eventually. In the meantime, I am running quants on the markets to turn a profit .. so I have no dog in the game regarding the currency's value itself. I make money whether it goes down relative to other crypto currencies, or rises, based on facilitating trades (closing trade book gaps) and providing liquidity to the markets.
I hope everyone's investments work out, but I've counseled regularly against buying and HOLDING Bitcoin at its inflated prices (my dollar-cost-average on my longer-term holdings was roughly $83, and I liquified the majority of that as the currency fell through the $800's). I've advocated short-term trading in a variety of crypto currencies, but this board doesn't have many people intellectually qualified of financially versed enough to participate in that.
The sad fact is that if people had just followed my trades (stock market, crypto, etc) that I've posted here, they would have seen an enormous gain -- not to sound egotistical, but I don't think I've made a bad "public" call yet (I have backed plenty of losing horses privately), and am definitely on the large-percentage scale gain-wise if you look at my post history of suggestions.