As per popular request, a video talking about bubble from the past and how they compare to bitcoin.
Video: Speculative bubbles of the past and bitcoin
- Thread starter Montoya
- Start date
AstroGimp01
Space Marshal
First
Guess I should watch video now...
And before I watch it I am going to guess that I agree with Glorious Leader
'Gimp
Guess I should watch video now...
And before I watch it I am going to guess that I agree with Glorious Leader
'Gimp
Good video, thanks Glorious Leader!
Takeiteasy
Space Marshal
I bought £60 about a year ago, then sold them for £128 and as soon as I did that it surged like a rocket into the area its at now, if I held onto them I could have bought a Polaris and a Hammerhead about now.
Tuff to say, since if market share gets to anywhere near real gold, and considering BTC has a defined cap, I dunno man... analysts are claiming could go to something like a million per coin to top out on a similar market share as gold. Something like that. I'll keep some healthy skepticism. But at the same time... I think it could be worth the risk to ride this wave.. in moderation.
DarthMatter
Space Marshal
Defined cap as in how much BTC there can be at a maximum?
Just checking to see if I'm following what you are referencing before I throw myself into this discussion. :)
The fact that bitcoin is capped at 21M has nothing to do with its prospects for growth or lack thereof.
Ill explain.
Example: Microsoft has 1000 shares outstanding (the total amount of shares issued, its actually 7.7B, but lets keep it simple)
It would be wrong to say that the value of Microsoft is limited because there are only 1000 shares on the market.
Nobody is has to buy 1 whole Bitcoin. You can buy 0.00001 bitcoin, so the amount of total bitcoin in circulation used as an excuse for scarcity is a flawed argument.
Radegast74
Space Marshal
You gotta sell on the way up, because when it goes down, nobody is buying...everybody is selling!
My favorite story from the day trading days was my friend who was wheeling & dealing, until the day the brokerage firm he was using was closed and all the assets were impounded, due to some solvency issues and unpaid bills. Anyway, he got his money back after everything was sorted out, but he made more profits during that time, when he couldn't do any trading, than when he was wheeling and dealing! lol
My favorite story from the day trading days was my friend who was wheeling & dealing, until the day the brokerage firm he was using was closed and all the assets were impounded, due to some solvency issues and unpaid bills. Anyway, he got his money back after everything was sorted out, but he made more profits during that time, when he couldn't do any trading, than when he was wheeling and dealing! lol
Very true but 1 bitcoin is still 1 bitcoin with a capped limit so the total price of the bitcoin is like having an ounce of gold. Yes it can be split into tiny peices and sold off but doesnt change the fact that 1 coin is 1 coin. We can't print more bitcoin whenever we feel like as the block has to be solved for each set of coins which as you make more coins it becomes more and more difficult to create a new coin. This requires more electrical power, better equipment to achieve a better hashrate, and more time. so what cost 10kw last year to get a bitcoin will cost 100kw the next year(just an example numbers lol). This plays a big role in how much a coin is worth. with companies making such large machines to solve blocks standard miners can no longer mine by themselves and have to mine with several others to beat out the bigger companies to solving the block. You are defiantely right it will pop if not enough relief is made between growth and alot of people are going to panic the higher it goes. and yes you are right play the market as you go don't hold onto everything only what you can lose.
AstroGimp01
Space Marshal
Wow, just watched now that I am back home and I do agree with Glorious Leader - great video.
"At some point the Geologist will fall out the helicopter" - best investment phrase ever.
'Gimp
"At some point the Geologist will fall out the helicopter" - best investment phrase ever.
'Gimp
Grimm_Reaper
Space Marshal
Something as volatile as cryptocurrency is even more open to market speculation. Like you said some big wig company or Drug lord heavily invested in the currency decides to pull out and that could be the fire that burns the hay stack. Some major broker speculates in an interview and bam the house of cards falls. Right now everyones got the same idea that it will hit around 20k and when some big company has met that cut off boom.
Putting it like that any major bank or money mover that has had enough of this under the counter stuff taking revenue away from them could just put a months worth of profit in and an hour later take it back out just to see what happened.
Big companies know better that if they crash the market that fast all at once then they will lose out more than most. the best thing a company can do is invest a massive ammount then drop it cause panic let it drop till it stabilizes then buy back in spikes to cause others to act like oh i need to get back in. It's just a big game gotta catch them on their ups and downs.
Btw BCH being released today caught me off guard go figure i swapped into btc 2 days ago after i had an influx then bch comes out on coinbase causing btc to bite the bullet. Also can't swap into bch which is soring due to the website being broken. It seems evertime something big is announced coinbase has issues i dont think this is an accident.
Radegast74
Space Marshal
Congratulations, mate! You can tell your grandkids that you made money on Bitcoin...unlike a lot of other people who won't be able to say that.
As our glorious leader pointed out, nobody is going to ring a bell to warn you when it tops out...the point is, get out with a profit, which you did.
Btw here is some bad news about tether. Not sure how they will be able to account 1 for 1 and back it when 30million teathers was stolen. https://www.ccn.com/tether-treasury-hacked-31-million-flagged-as-not-redeemable/. I don't understand why people cant stop hackers from stealing from exchanges. It's like the wild west again and everyone is stealing everyone's money.
GeneticPredator
Space Marshal
This is the exact reason I avoid those types of currencies.. any currency which has the power to control such things, is a double edged sword. Sure helps against theft, but also eats away confidence of being truly decentralized.. because in that scenario.. it is most definitely not. I'm just turned off by most if not all token currencies.
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Speedkills
Admiral
We should create TESTcoin and store the code in kegs to take down Bitcoin. There’s so much attention taken away from our Glorious Leader... it’s heresey! Even our Glorious Leader is affected by this! Free Montoya from the Bitcoin blockchain bonds that bind him. One TEST to rule them all!