Is not the end of the world, it has happened before. These 40% corrections are exactly why I don´t believe in BTC as an investment (for trading yes, for investing... no thanks).
Cheers.
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Acutally this ks a good place to buy imo
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Is*
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Sorry spelled my previous comment wrong. I wanted to say: Actually this is a good place to buy in my opinion.
What does this KS is a good place to buy mean?, do you mean buy now?
mightytrader
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I agree... I don't understand how cryptos are "investments" when they don't yield anything. I suppose maybe you invest in the crypto economy but 95-99% of it is speculation and trading at this point; no cryptoeconomies (term I just coined!) really exist yet.
Even if one holds for the long term... he is still a trader but with longer timeframes. Bitcoin has no intrinsic value.
sotito4life
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@mightytrader, Bro bitcoin have a intrinsic value, they don't appear out of thin air, If you beleive they do, better go educate yourself.
mightytrader
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@sotito4life, It's complicated. You have to give me more argument. I like Bitcoin but I don't see it technically as an investment because it doesn't yield anything and is supposed to be a currency. I don't really consider currency a true investment either.
Bitcoin, I argue, doesn't have intrinsic value because it needs all this infrastructure for it to work such as massive computing power and volunteers to mine it. It requires Internet and computer hardware.
Gold, however, I argue has intrinsic value because it's indestructible.
I do not view gold as an investment, however, as it is money and doesn't yield anything. It is a store of value but doesn't produce anything.
Bitcoin is not yet a store of value... too volatile.
When a person buys Bitcoin or gold, he is trading against the currency he bought with.
Also: Bitcoin can be supplanted by a different coin... Gold can't.
I do not consider ICO investments. An investment in this space would be some type of legally binding contract where you invest in a company and it yields a profit from the company creating an actual product or service that is sold and utilized.
NVIDIA stock is an investment, for example.
But this is how I see things, now. Cryptocurrencies are in a very early stage and I'm sure will teach us all things we've never considered before.
mightytrader
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* Gold is indestructible and can exist on its own.
max69
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if you invested a couple years ago you might like it better. :)