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Yup. I've got the same canary dying at this point. Work colleagues are asking me "which crypto" they should buy. 4 years ago, when btc hit $1000, it was my unc
by andruby 9y ago
Yup. I've got the same canary dying at this point. Work colleagues are asking me "which crypto" they should buy.
4 years ago, when btc hit $1000, it was my uncle who asked me to buy a couple. A few months later it dropped to $300.
Crypto currencies feel a lot more mainstream this time around. It makes me worried that a crash could actually impact the "real" (as in non-crypto) economy.
- flatfilefan 9y agoDid he ask you to sell those couple B at $20000 recently? Well, even if he did not then, selling at $13000 now isn't that bad either.
- lagadu 9y agoIn your uncle's defense, buying bitcoin at $1000 turned out to be a huge bargain.
- Cthulhu_ 9y agoIn hindsight, yeah, but you can't predict the future. I wouldn't be surprised if e.g. Bitcoin collapses, for example due to the transaction costs and time. If the miners pull out the network dies.
- dx034 9y agoAt $1,000 the economist hat a story on bitcoin which probably caused (some of) the following rise and crash shortly after. This time the buyer base is much larger (low yields on nearly everything else) but bitcoin has already been struggling to keep its value in recent weeks.