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There is an interesting quote that goes something like this: "when your hairdresser starts talking about the market, it is time to get out of the market". Now
by SeanDav 14y ago
There is an interesting quote that goes something like this:
"when your hairdresser starts talking about the market, it is time to get out of the market".
Now I doubt your hairdress will be talking about bitcoins any time soon, they are too technical for the average non-tech person (but if he does, sell out and run for the hills, stat), but the lesson is, once a market becomes common knowledge, it is time to get out of that market.
Unless you can think of strong, fundamental reasons why bitcoins should be at the levels they are (and no, the bigger fool theory is not a strong, fundamental reason), then I would consider getting out at these levels.
- oleganza 14y agoIt may be true for any speculation-only asset like AAPL shares or some Ponzi thing, but in case of Bitcoin, it's a good thing when hairdressers know about it. Because the whole point is to accept them as a payment and pay your bills. It's true, the price is rising now, so people are mostly holding and not paying, but when the demand will be close to saturation, price will grow much slower and people will use BTC to pay for anything, not only USD. That's the crucial difference with the stock market. This will give Bitcoin value outside of speculation on USD price. AAPL is not really valuable if it does not grow (and dividends are almost zero), but non-growing BTC is super-useful to pay anyone around the world with no questions asked.
- deleted 14y ago[deleted]