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can you imagine if the stock market was down 62% from it's high this year ?
the big difference is we know markets have a history of bouncing back rather quickly . we have nooooooo history of crypto ever bouncing back .
like with stocks and commodities markets have no memory of where they once were , but the owners sure do . regardless of what you bought in at if you held it when it peaked , down 62% is down 62% regardless of the fact i am still up from where i started life. .
it does not matter that i started out investing in equities 30 years ago with just a few thousand dollars and today it is 7 figures , if we fell that much that is all my money that evaporated until it bounces back .
it is a speculation as to where crypto goes but the fact it hit 20k and at 7500 crypto investors are licking their lips awaiting that return , they have to remember that markets have no memory where they once were, gold took 28 years to get back to it's 1980 high .
so speculating in crypto is fine as long as you don't look at it as you would investing in established asset classes with long histories .
Last edited by mathjak107; 06-10-2018 at 04:18 AM..
It's funny that the technology itself is fairly secure, but the means of purchasing it are weak. Small companies that got thrust into holding significant amounts of crypto value, did not have the resources to setup security as needed.
Hopefully lessons are learned, as the crypto field keeps getting battered and bruised between the hacks and scams.
estimates are 40 billion in virtual coins . according to this article in fortune magazine don't count on always being fully reimbursed or even reimbursed in coins . some have been given stock in the parent company after having more than 1/3 of their investment value reduced . .
estimates are 40 billion in virtual coins . according to this article in fortune magazine don't count on always being fully reimbursed or even reimbursed in coins . some have been given stock in the parent company after having more than 1/3 of their investment value reduced . .
I heard the Coinrail hacker got more than $40 million worth of cryptocurrency, with $45 billion wiped off the total crypto-market value in the last 24 hours.
About $1.1 billion worth of cryptocurrency has been stolen by hackers in the first half of this year, according to a recent report from cybersecurity company Carbon Black.
The Bitfinex hack mentioned in that 2016 Forbes article was completely paid back to their customers. In 8 months they bought back all of the tokens representing the debt and made everyone whole.
The #1 hack, Mt. Gox is interesting because the owner Mark Karpeles, who lost around 850k btc through his incompetence, may actually end up with around $1 billion in profit in the end, since he “found” 200k btc after the hack and bankruptcy. After paying off the debt, he is the primary share holder, he may still profit immensely.
In some hacks everyone in the end makes money in this crazy industry where everything can be tokenized, and may suddenly have “value”.
In The DAO hack, the hacker got away with millions, and even the “victims” came out with more than they started with. Everyone made money, the hacker, the victims, the traders.
not something i would chance if i had large dollars to speculate with . there are no guarantees your hacks will be made whole or how you will b compensated as far as i know.security is being proven far to weak .
not something i would chance if i had large dollars to speculate with . there are no guarantees your hacks will be made whole or how you will b compensated as far as i know.security is being proven far to weak .
I agree, no guarantees, and the hackers will always be ahead of the defenders.
The Bitcoin Blockchain itself has stood up amazingly well. It currently locks up over $100B in value, sitting there open on the internet, waiting for someone to crack it. As a piece of software it is quite unique, offering 100% uptime, virtually unstoppable as a service, and has withstood years of scrutiny.
The hacks all come from all of the other software, not the Blockchain itself, and also just regular social engineering and hacking of the usual web software.
That's an understatement.
Ouch! Ethereum down. Bitcoin way down. Litecoin way down as well.
Meanwhile the S&P is up about 4%. NASDAQ up about 24%.
As with everything in life timing is key. Had OP posted this a while back it would have been S&P up 4%, Ethereum up 7,000%
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