4 ms·

Still up 500% since January 2017.

• pc86 8y ago
  Still down 78% since December 2017. What's your point?
  • apexalpha 8y ago
    Just because a bubble pops doesn't mean it's useless or dead. Many bubbles pop in the real world, they always recover.
    • Uberphallus 8y ago
      Ever heard of BitConnect?
      • gsich 8y ago
        Was scam from the beginning.
    • mbreese 8y ago
      They don’t always recover. It’s hard to recover when you are a commodity that doesn’t have any inherent utility other than being a method for completing transactions. Also - Tulips.
      • sodafountan 8y ago
        It's a lot easier to recover when a recovery mechanism is built in - aka the halving. We're a solid year and a half away from that event happening, it'll go lower than this in that time but once the new supply restricts it'll make its slow ascent back up, people will see the opportunity and the demand will skyrocket again. I say this a lot, it's helpful to think of bitcoin as an algorithm, I just see this pattern playing out the same way over and over and over again every four years.
        • Nursie 8y ago
          This only works if demand continues at all. "The halving" is of little consequence if nobody cares.
          • sodafountan 8y ago
            Yeah I'm sure nobody's ever going to care about bitcoin again you're right.
            • Nursie 8y ago
              Not nobody, sure, but the halving really only matters if interest is at least half what it has been in prior bubbles. Reduced supply may push up the price... or it may not if there isn't much of a market for the supply anyway.
              • sodafountan 8y ago
                The interesting thing is is that bitcoin enthusiasts tend to buy a fairly steady supply over time, this is what's maintaining the current price. Eventually demand will starts to wane off after a big run up but the core people are still buying in steady amounts, then once the halving comes and the demand stays relatively steady you start to see the price trend up, this draws in new interest and runs the price up even more, then you have all the rest of the people who are tuned out and they come rushing in and you have full blown FOMO, all the people who've been buying steadily begin to cash out and the price drops off. It's happened before and it'll happen again like clockwork and that's because bitcoin is just an algorithm.
                • Nursie 8y ago
                  >> this is what's maintaining the current price The price that's tanked about 30% in the last week alone? >> It's happened before and it'll happen again like clockwork I'm afraid this is a very bold prediction.
    • mrweasel 8y ago
      That will be the test for Bitcoin, can it survive a "popped bubble"? Stocks normally don't survive, unless there's something of value in the company behind it. Bitcoin doesn't have anything of value behind it, and it's easily replaceable by other currencies. If the value drops to something like 5 cents per Bitcoin, or even just a few dollars, you have to wonder if people won't abandon their wallets over time.
      • EADGBE 8y ago
        > you have to wonder if people won't abandon their wallets over time. Storage is cheap enough, I think the early forgetful adopters learned their lesson from that.
• prolikewh0a 8y ago
  Still up thousands of percent since 1783.