Thoughts on Cryptocurrencies?

[Eldon]

Bitcoin down 30% from its high just from a week ago.  Seems super stable.

The introduction of Bitcoin futures should help to alleviate some of that volatility

https://www.ft.com/content/1c9f468a-be53-11e7-9836-b25f8adaa111

I'm not sure how viable these futures will be long term (who the hell needs a Bitcoin hedge?), but anyway.

[Tugg Speedman]

Bitcoin down 30% from its high just from a week ago.  Seems super stable.

This is the fifth time THIS YEAR bitcoin has declined 25% or more.  The other four times is recovered to a new high, some in a matter of a few days. (the last one was a 31% decline bottoming on September 14)

Also

* July 5, 2013, bitcoin was 70.1% off its recent high.  It still recovered to a new high (on November 29, 2013).

* January 14, 2015, bitcoin was 84% off its recent high.  It still recovered to a new high (on April 10, 2017).

* November 18, 2011, bitcoin was 93% off its recent high.  It still recovered to a new high (April 9, 2013).

So for those predicting bitcoin will collapse ... it has already three times!

[Benny B]

This is the fifth time THIS YEAR bitcoin has declined 25% or more.  The other four times is recovered to a new high, some in a matter of a few days. (the last one was a 31% decline bottoming on September 14)

Also

* July 5, 2013, bitcoin was 70.1% off its recent high.  It still recovered to a new high (on November 29, 2013).

* January 14, 2015, bitcoin was 84% off its recent high.  It still recovered to a new high (on April 10, 2017).

* November 18, 2011, bitcoin was 93% off its recent high.  It still recovered to a new high (April 9, 2013).

So for those predicting bitcoin will collapse ... it has already three times!

It's just practicing.

[Tugg Speedman]

Bitcoin Hits Record Just Days After a 29% Plunge
https://www.bloomberg.com/news/articles/2017-11-16/bitcoin-hits-record-as-monday-s-29-plunge-fades-to-memory

Bitcoin has picked up right where it left off, capping a resurgent week by climbing within a few dollars short of a record $8,000 just days after a plunge of as much as 29 percent from the previous high tested the confidence of advocates of the cryptocurrency.