Topic: None of you are financial experts, it's scary (Read 707 times)

I can't believe you're replying to that troll. He doesn't even bother to answer you and defend his statements. I bet he made this account just to tell you how inexperienced and dumb you are and watch you try to prove him wrong. I'm sorry that you haven't invested before the pump. You can still make it, we're going from one moon to another. Time to lock the thread

That's paradox - people without deep knowledge about finances and economics earning big money in crypto world. And I see little hate from people wo are working with stock markets towards to Bitcoin traders. People who studied for years and working it that sphere for many years can't understand how with amateur knowledge and not professional desicions can make more money than these who are working full time job with stock markets.
Ok, my minds about your question. I love to answer "what if?" questions
1. Regulation of Bitcoin isn't really possible. But things around Bitcoin are already strictly regulated. Exchaging Bitcoin to USD requires to provide all personal details, ID. Don't forget about capital gain taxes.
Ban of Bitcoin in USA? Is it at least minimal possibility that may happen? But if it happen, yes, it would have terrible impact to Bitcoin, much biggern than ban of Bitcoin in China.
2. It already happens periodically. And it have impact only in short term. Just remember what happened when btc-e was closed by US authorities. And we can't compary any of current exchanges with Mt.Gox. Mt.Gox had huge dominance in market and volume. Now everything diversified between many exchanges, so 1 or 2 fraud exchange wouldn't have huge negative impact.
3. Well, governments are already trying to make their cryptocurrencies. Question what people prefer - decentralized Bitcoin or currency controled by government. Anyway, both currencies can be popular at same time - like Bitcoin and all altcoins now.
4. It's a serious problem. It already happens sometimes that we need days to get transaction confirmed, especially when spam attack happens. But weeks - you exaggeratated it a bit
5. Looks that you don't know how mining works - mining difficulty will just adjust to the current hashrate.
C'mon dude, we are already in reality. Do you really thinking that every Bitcoin investor is an idiot with purple glasses who don't have critical thinking. You are wrong.

I am not young.  And, I don't hold much bitcoin.  But, OP, you comments betray you as being as ingorant about cryptocurrency and blockchain technology as you think the bitcoin community is about economics or finance.  As has been mentioned by various previous posts, for most of us, purchasing cryptocurrency is a calculated risk.  I only "invest" what I am willing to lose.  

I believe in the technology behind the cryptocurrency.  And, no one can deny that new technology has always driven economic and finance.  If you truly understand economics and finance, you understand that you must continue to think of them in new ways, as they adapt to new technologies.  OP, I hope we can open your eyes to the fact that we are not all as  young, uneducated, clueless, egomaniac children.  We just might be seeing the future in a way you never imagined possible.

1) The US government already regulates fiat <> bitcoin conversions like it does with all transactions involving fiat. For it to attempt to ban bitcoin would be a bit like trying to ban gold. What's the point? There is no need for such heavy handed tactics when the simple regulation of fiat <> btc suffices. So far every indication they've given is that they consider bitcoin to be an innovation not a threat and the regulation of fiat <> btc bridges is sufficient.

Now if despite all of the above they do ban it then the price will obviously suffer. But there are other countries in the world besides the US so it won't be all that bad. It would require concerted global action to truly ban bitcoin and even then it wouldn't be entirely effective because of its decentralized nature.

2) This is guaranteed! In case you haven't noticed exchanges go down like nine pins in the bitcoin world. It's only a short term bump in the road especially since no exchange commands the market share that Gox once did. Bitcoin survived Gox so it can survive any exchange bust now.

3) These already exist! I mean not "crypto currencies" but regulated electronic payment methods. Paypal for example or any myriad other centralized payment systems. But bitcoin is unique because it is decentralized and not controlled by any single entity. It is a common newbie mistake to equate bitcoin with the many different epayment systems out there which is why it's FAQ number one on my site!

4) Yes this would be very bad for bitcoin. A sudden loss of hash rate would be very bad indeed. Maybe they'll hard fork to a lower difficulty to fix it? A hard fork with community support would be fine.

5) Difficulty adjust automatically to network hash rate so if mining is no longer profitable the less efficient miners leave, network hash rate falls, difficulty adjusts downward and mining becomes profitable again.

We are the True Believers instead! The Faith is ous Force!
..and most of that financial experts couldn't predict BTC and still don't know how it works at all!!

How exactly? If they could then they should've done it already.


Like Mt. Gox? Then it will result to a similar outcome. The price will crash but this time, it will recover quickly.



Another shitcoin in the making. Don't be bothered about them doing what they do best.


We've been there and what happened? Bitcoin reaches 11k USD. Scaling is needed for Bitcoin. But rushing things like B2X is the worst approach. Sooner or later the devs will deal with this issue effectively.


As if miners will let that happen. Increasing the transaction fee might be a solution. But when the scaling issue was fixed, miners won't even bother thinking about this.


Forum ranks does not justify anything.

The OP may mean well, however, a couple of points.

He sounds as if he has been annoyed a few times already, and recently, by the usual internet trollkin, and is lashing out a tad.  That is an assumption, but safe enough, lol, as who hasn't been.  Saying "most" are chronologically young is easy enough, most developers of software, in general aren't even as old as I am. 

The US government already, after a fashion, regulates BTC, take a look at the IRS guidance from 2014 regarding it.  Right now, you can still get away with "good faith" reporting of capital gains and avoid a hassle.  Having to avoid a "hassle" already smacks to me of regulation, your bar may be higher.

All currency is fallacious, unless backed up by something physical.  A can of beans in the cupboard is worth more than two dollars in the bank anyday.  Just made that up, I like it though, feel free to use it and give me credit.

Do you think that the "financial experts", as you call them, are the ones who can have the best advice or the best opinion about bitcoin? For your information, a couple of years ago the Bank of America-Merrill Lynch published a study that indicated that the bitcoin could hardly be worth more than $1300, because reaching that value it can not be sustained and would end falling towards $400 or $300.

And the years go by and as the "experts" continue to fail to predict the "imminent death" of bitcoin, but some others of them, more analytical and prudent, are beginning to open the doors to bitcoin.

Everything seems to indicate that the stupid enthusiasts, as you see us, have defeated the great "financial experts" that you love so much.

Oh, by the way... did you buy your user? Any other for sale?

1) It cannot be banned. You lack technological knowledge. The exchanges could be banned.
2) Better for the rest. Less bitcoins, more price.
3) They are doing it. The problem being that people like the freedom. You lack technological AND social knowledge.
4) That would require an incredible increase. Sometimes there is saturation. Yoy lack technological knowledge again.
5) Mining self-stabilises and it is know that it will eventually be not profitable. You lack ANY knowledge.

They will never do it because they do it then bitcoin will become the centralised currency which will have no difference between the normal forex market commodities and this. Then its value will be regulated and would be pretty much low. People will not invest into it, so government will fail.



Doesn't matter. The bitcoin will stay on the blockchain. If they try to sell in huge amounts then bitcoin will fall but as we know for sure the bitcoin has always stood up and started to run over the blockchain as they would do normally.

They will fail again and just read the 1st questions answer, thats what will happen again.

It will never happen, nothing will go over the days or weeks. We already experienced the transactions slowness last time when the bitcoin cash was being pumped out. But things came to normal again after the failed attempt of BCH.

Mining is not just about the feasibility and profits can be earned through the miners fees in the future if all the coins are mined already.

Those are real issues. But, there is plenty of room for other crypto coins. Bitcoin will never go to 0, no matter how many regulations the US will make. Those are things that will affect the price of Bitcoin, but, won't put Bitcoin on the knee.

1. If US gov't regulated it it would go through the roof. If they ban it nothing will happen look at how the world reacts to bans if is shrugged off within weeks!
2. Sure I will give you this it will crash the price heavily upwards of 90-95% of the value. But what will happen after that? The exchange goes away bitcoin regains confidence and life is normal again.
3. This is literally the most unrelated thing ever who cares if a centralized government makes a coin they will take some of the market but not enough because those who are in crypto are here for decentralization.
4. The scaling problem is constantly getting improved look at this last year and what that scaling improvement did. When there is a problem there is also a solution the that problem!
5. Mining will always be feasible as bitcoin will become everyday currency come 10 years from now and those fees will secure the network.

Last but most importantly you talk about us being uneducated, young, and overly excited. This may be true for some but there are also smart individuals here who are educated, older, and pragmatic like myself. Also the fact that you mention you are from different markets and industries says about enough for me, you probably have not done your homework thoroughly enough because you would not have made these points like you did.

You do raise many valid points, but your choice of words were poor if you ask me. Majority of the members in this forum including me work hard and try to earn as much money as possible through this forum and that is not a bad thing at all as long as the posts are constructive in my opinion. I do not support the shit posters though. You act like you know everything about this forum op which is stupid and silly and I advise you to keep your attitude in check.

I don't understand, didn't you see that everything above is happening and bitcoin keeps its path to the moon ?
I doesn't matter, no fud, no regulation, no prohibition can stop bitcoin to be used or mined.

Of course you're right. But Bitcoin is a good investment, if you do not, of course, mortgage the house to invest in it. In addition, many traders make a fortune on it. And the fact that people are driven into this market and do not understand anything about it, well, it's their problems. We can not put our brains in the mind of someone else so that he understands what's what.

Most rational people would only invest a very small portion of their net worth in Bitcoin. So even if the price does go to zero, they will live with it. Bitcoin as a technology has been truly revolutionary and has the potential to grow exponentially. So nothing wrong about people speculating about that.

Oh, and by the way - none is singular, so your title should be "None of you is a financial expert".

Expect replies such as these when you portray yourself as an educated financial expert.

United States is not the only country in the world, they claim to be the number one country but most of the people don't believe it anymore. Of course US will eventually ban bitcoin because they will be the first country who will be affected if bitcoin is widely accepted.


How many Banks are fraud? Bitcoin owners can split their coins to multiple exchanges without IDs required.


When a government created their own crypto currency how will it be accepted worldwide?  It will just be a digital fiat of that country, are they willing to give up their fiat currency for it? I doubt it!


You always have an option to go with the higher transaction fees.


Mining will always be profitable, people who are claiming that mining is already dead are those who are either avoiding to have more competition or who are not really into mining bitcoin. If you really know economics you should know how mining will be profitable until the end.