lejend wrote:So because not 100% of the population can gain from a caertain opportunity, nobody should? What kind of logic is that? Just give 20% of the profits to a church or something.
yeah... that's not what I said. Read again. If you can read... I guess not, because real comprehensive reading is something you learn at university.
That guy is precisely whom I aspire to be like. Give 'em gold diggers false hope and have a great laugh, jerking off to my crypto-wallet balance later the same night.
Yeah, it's the only thing that exists on the Swedish stock market regarding Bitcoin right now. I didn't think anyone would interpret it as XBT being the only security.
Are you long on this @Gendarme? If not I'd be looking to sell if I were you. Not that I've done a lot of research, but it feels like a bubble.
Due to mainstream media coverage it might surge even next week, but after that intuitively I'd say there will be a big sell off. Ideally maybe you'd wait for the surge early next week, sell around $12k, wait for the drop to like $8k then buy again.
But I'm just guessing. It could also just keep surging for no reason whatsoever. The BTC market makes no sense.
@Goodspeed Yeah, but I am not in deep (bought for slightly less than $1,000 and now it's worth slightly more than $1,000). I'm not much of a speculation-trader. I'm using it as a parking spot for my money because I think the probability of going up is larger than 50% in the long term (i.e. ignoring weekly fluctuations). Although the price may be inflated right now, I think the long-term health of Bitcoin is great because there's no real competition at the moment (the Bitcoin brand is very strong), and I think the crypto-currency market is going to grow for now unless faced with government resistance.
What you're saying makes sense, of course, but I'm not actively following the Bitcoin discussion—perhaps I should. I'd say it's surging more due to the new futures contracts on the Chicago exchanges rather than media coverage. I don't think the average person who gets his financial news from the media is ever going anywhere near Bitcoins, and probably not even the stock market. I'm not sure about a sell-off happening soon, and I wouldn't know how to identify it at the correct time anyway. TL;DR: I don't think it's a bubble. If there's a sell-off I think it will climb up again relatively quickly similar to what happened during this 48-hour time span:
Goodspeed wrote:Are you long on this @Gendarme? If not I'd be looking to sell if I were you. Not that I've done a lot of research, but it feels like a bubble.
Due to mainstream media coverage it might surge even next week, but after that intuitively I'd say there will be a big sell off. Ideally maybe you'd wait for the surge early next week, sell around $12k, wait for the drop to like $8k then buy again.
But I'm just guessing. It could also just keep surging for no reason whatsoever. The BTC market makes no sense.
Its probably somewhat of a bubble, but not totally. There are things gonna come out of this that will be here to stay. But yeah overal there is a lot of money circulating, driving up the prices and if that stops, there are going to be people left hanging with a useless commodity, but prices will continue to rise for atleast a year probably
I mean short term it feels like a bubble. People who got in right before this big surge and aren't long are likely going to look to sell pretty soon. Long term it seems likely that it will continue to rise, assuming nothing unexpected happens.
Goodspeed wrote:I mean short term it feels like a bubble. People who got in right before this big surge and aren't long are likely going to look to sell pretty soon. Long term it seems likely that it will continue to rise, assuming nothing unexpected happens.
hmm, then i don't know what you mean by bubble. just that the price will drop some because people who bought at 5k will look to sell at 10-15? maybe, but that's not a real bubble then i guess.
By that I mean the price is higher than it's "supposed to be" rn. The price will correct itself although it's near impossible to predict when. 12k-15k is my best guess.
I do think there's a real bubble here, too @deleted_user, but that's because I don't believe in crypto currency. I base that on what I've read about it which isn't much, tbh, so I may be completely off with this, but I don't think it will be allowed to become a mainstream currency even if the market moves that way because it's too hard to control. For fear of large scale tax evasion and other types of fraud, I think governments will end up regulating it in some way and that's when the price will take a nosedive as people realize BTC won't become what the price suggests it will become. And as far as crypto currencies go, is BTC the one that will last? I don't know, it has some tech issues. And typically being the first to do something rarely means you're the best. Long term, I'd say it's likely one of its rivals wins out.
So I highly doubt it's worth as much as this. The price will continue to increase for now though, that seems likely either way.
It would be somewhat ironical if Bitcoin crashed purely due to government regulation as its main purpose is to offer freedom from governments. If regulation is implemented, it is a clear confirmation that Bitcoin is in fact of importance. Even if owning Bitcoins becomes right out illegal, I don't see it crashing for just that reason. As long as the government doesn't have control over the internet it is not enforcable, and if they do manage to get control over the internet we have much greater things to worry about than the value of Bitcoin.
as its main purpose is to offer freedom from governments.
Right and as such I don't think it will be allowed to become a mainstream currency. If it does despite governments' best efforts, then we're in trouble also because we'd be dealing with an unregulated free market (ie we're all fucked) and a powerless government when it comes to economics. I don't think they'll let that happen. Taxes being no longer enforcable doesn't sound like an issue to you?
Even if owning Bitcoins becomes right out illegal, I don't see it crashing for just that reason.
I don't think that'll happen but if it did, then yeah it would crash for sure.
Bitcoin payments don't facilitate tax evasion any more than cash payments do; businesses are required to produce receipts regardless of the method of payment. Bitcoin does facilitate illegal activity including tax evasion, sure, but this is not necessarily a problem when the law is corrupt and taxation is usury. Having a society with no taxation is not ideal to my knowledge, but it is far better than what we have now. A powerless malicious government is preferable to a powerful one.
Depends on your strategy IMO. I bought a coin 4-5 weeks ago, as of this moment I have 12x my money on that particular coin. Last month I did a 67x on another coin.
The surge in Bitcoin’s value is arguably unprecedented. In the 12 months to November 30, the bitcoin price rose 1,773 per cent, bringing its value to nearly $170bn, around the market capitalisation of General Electric. By comparison, the Nasdaq Composite barely doubled during the final year of the dotcom boom. Other stock market bubbles, such as in the US in 1929, Japan in 1989 or China in 2007, were of much the same magnitude as the tech sector’s.
If you spend money on this don't expect to get any of it back.
The surge in Bitcoin’s value is arguably unprecedented. In the 12 months to November 30, the bitcoin price rose 1,773 per cent, bringing its value to nearly $170bn, around the market capitalisation of General Electric. By comparison, the Nasdaq Composite barely doubled during the final year of the dotcom boom. Other stock market bubbles, such as in the US in 1929, Japan in 1989 or China in 2007, were of much the same magnitude as the tech sector’s.
If you spend money on this don't expect to get any of it back.
"Don't expect to get any of it back" Errr.... That's a surprisingly ignorant comment, even by ESOC standards.
deleted_user0 
Laurence Drake 
That's a surprisingly ignorant comment, even by ESOC standards.
