5 ms·

I can’t see how... the bubble’s skin is already pretty taut IMO

r3bl 9y ago
Approaching the final limit -> so many Bitcoins lost -> so many Bitcoins confiscated -> the amount of Bitcoins goes down -> the demand increases -> price for one Bitcoin goes through the roof. At least that's how I see it. Don't know jack shit about cryptocurrencies, but this seems like basic economy.
- cc81 9y ago
  In a way yes but who is actually using bitcoins to buy things? This seems to be 80% speculation and 20% illegal stuff (drugs, money laundering etc.)
baddox 9y ago
For how long have you been saying or thinking that? Since 3 months ago when it was at half the price it’s at now?
- QAPereo 9y ago
  About that, and I stand by it. Of course if I were some kind of psychic and could precisely predict the burst I’d be fuck-you rich. Seeing that I can’t, I’m not going to risk it all on tulips. Especially tulips that burn through soooo much electricity.
  - hndamien 9y ago
    Perhaps it is equity based money rather than debt based money and it would be wise to have a non-zero multiplier.
  - baddox 9y ago
    So when you say that the bubbles skin is already taut, how many more times can the price double before you concede that perhaps it wasn’t so taut after all?
    - QAPereo 9y ago
      If it doubles again I’d be shocked at least, and certainly admit that I was laughably off about timing. That is possible, and betting against human stupidity/cupidity does have risks.
      - cloakandswagger 9y ago
        All those lost profits are the price of hubris my friend. I was wary of Bitcoin until it hit $4k, when I put aside my ego and reassessed its value, realized I was wrong and bought in. The longer you go on trying to call peaks and slandering crypto as "human stupidity", the more cognitive dissonance will form, followed quickly by the rationalizations needed to dispel it.
      - priitmaxx 9y ago
        This bubble has to bust. One bad news and everyone is going to rush to sell.
Obi_Juan_Kenobi 9y ago
Compare the current price action to that of November 2013 and try to say 'bubble' with a straight face. Everyone in hysterics about a bubble is every bit as foolish as those shouting about going to the moon. We've had over a year of steady growth punctuated with regular corrections. Will there be a bear market at some point? Certainly. But the proof of bubbles is in the popping; major price action down to a tenth of the peak or so. That doesn't just happen because of a bull market, it happens in the wake of a major speculative wave or something that fundamentally compromises value.

r3bl 9y ago

Approaching the final limit -> so many Bitcoins lost -> so many Bitcoins confiscated -> the amount of Bitcoins goes down -> the demand increases -> price for one Bitcoin goes through the roof. At least that's how I see it. Don't know jack shit about cryptocurrencies, but this seems like basic economy.

cc81 9y ago
In a way yes but who is actually using bitcoins to buy things? This seems to be 80% speculation and 20% illegal stuff (drugs, money laundering etc.)

baddox 9y ago

For how long have you been saying or thinking that? Since 3 months ago when it was at half the price it’s at now?

QAPereo 9y ago
About that, and I stand by it. Of course if I were some kind of psychic and could precisely predict the burst I’d be fuck-you rich. Seeing that I can’t, I’m not going to risk it all on tulips. Especially tulips that burn through soooo much electricity.
- hndamien 9y ago
  Perhaps it is equity based money rather than debt based money and it would be wise to have a non-zero multiplier.
- baddox 9y ago
  So when you say that the bubbles skin is already taut, how many more times can the price double before you concede that perhaps it wasn’t so taut after all?
  - QAPereo 9y ago
    If it doubles again I’d be shocked at least, and certainly admit that I was laughably off about timing. That is possible, and betting against human stupidity/cupidity does have risks.
    - cloakandswagger 9y ago
      All those lost profits are the price of hubris my friend. I was wary of Bitcoin until it hit $4k, when I put aside my ego and reassessed its value, realized I was wrong and bought in. The longer you go on trying to call peaks and slandering crypto as "human stupidity", the more cognitive dissonance will form, followed quickly by the rationalizations needed to dispel it.
    - priitmaxx 9y ago
      This bubble has to bust. One bad news and everyone is going to rush to sell.

Obi_Juan_Kenobi 9y ago

Compare the current price action to that of November 2013 and try to say 'bubble' with a straight face. Everyone in hysterics about a bubble is every bit as foolish as those shouting about going to the moon. We've had over a year of steady growth punctuated with regular corrections. Will there be a bear market at some point? Certainly. But the proof of bubbles is in the popping; major price action down to a tenth of the peak or so. That doesn't just happen because of a bull market, it happens in the wake of a major speculative wave or something that fundamentally compromises value.