What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

?

What is the fate of Bitcoin?

  1. Currency of the future

    32.8%
  2. Passing Fad

    67.2%
  1. The Real Shady

    The Real Shady Contributing Member

    Joined:
    Jun 8, 2000
    Messages:
    15,379
    Likes Received:
    873
    Coinbase is down.
     
  2. Ottomaton

    Ottomaton Contributing Member

    Joined:
    Feb 14, 2000
    Messages:
    12,219
    Likes Received:
    945
    The old rule is when your mailman and your plumber are talking about how great an asset is, that is when the bubble is about to crash because there's nobody to pump new money in.

    Anything that everybody thinks is amazing is very frightening to me. The only thing that overrides greed is fear, and I don't think right now it would take much to start fear propagating.

    However, I read the bitcoin Reddit all the time, and those are some hardcore true believers. I don't think much of anything could make those guys panic. But given how much general media attention Bitcoin is getting, I'm not sure they are driving the price, so much as new investors.

    But when it bumped from $10 to $100, I was sure it was going to collapse back most of the way, so what do I know?

    If it drops back to like, $7k or $10k and levels out, is that going to freak people out?
     
    ghettocheeze and Hakeemtheking like this.
  3. astros123

    astros123 Member

    Joined:
    Mar 28, 2013
    Messages:
    1,531
    Likes Received:
    107
    I hope it crashes down to 10k so I can buy in more lol
     
    Fantasma Negro likes this.
  4. tallanvor

    tallanvor Contributing Member

    Joined:
    Oct 9, 2007
    Messages:
    11,717
    Likes Received:
    1,364
    you are doing it wrong. buy now. you are making the same mistake everyone makes.
     
  5. Fantasma Negro

    Joined:
    Jun 23, 2011
    Messages:
    5,466
    Likes Received:
    2,213
    I've been saying that for two days lol
     
  6. The Real Shady

    The Real Shady Contributing Member

    Joined:
    Jun 8, 2000
    Messages:
    15,379
    Likes Received:
    873
    Everything is down. Can't buy. lol
     
  7. rezdawg

    rezdawg Contributing Member

    Joined:
    Feb 15, 2000
    Messages:
    18,318
    Likes Received:
    1,062
    This is going to crash hard, we'll be sub 10k by next week. Hopefully not lower than 8k.

    Someone tell me I'm wrong please.
     
  8. kevC

    kevC Contributing Member

    Joined:
    Jul 19, 2007
    Messages:
    6,819
    Likes Received:
    3,808
    You might be wrong. Might not be. Who knows.
     
  9. oelman44

    oelman44 Member

    Joined:
    Mar 24, 2012
    Messages:
    4,491
    Likes Received:
    594
    It got up to 19k??? WTF is going on?
     
  10. ipaman

    ipaman Contributing Member

    Joined:
    Nov 23, 2002
    Messages:
    8,350
    Likes Received:
    1,632
    What vendor in their right mind would accept this as payment? That in itself means your "currency" has no value.

    That said, I predict there will be a fiat capable blockchain digital currency that will go mainstream in the future but it will be created, released, managed by the central banks, federal reserve, etc...
     
  11. tallanvor

    tallanvor Contributing Member

    Joined:
    Oct 9, 2007
    Messages:
    11,717
    Likes Received:
    1,364
    you are watching with some major lag guy. prepare to suffer.

    what vendor would accept a currency that's gone up 1000% in a year? me.
     
  12. oelman44

    oelman44 Member

    Joined:
    Mar 24, 2012
    Messages:
    4,491
    Likes Received:
    594
    Regretting selling anything when it reached 14k... do yall think the current price (16.3k) is a good price to buy back at, or will it keep falling?
     
  13. Ottomaton

    Ottomaton Contributing Member

    Joined:
    Feb 14, 2000
    Messages:
    12,219
    Likes Received:
    945
    As I said, every time it makes these crazy jumps where it increases 2x to 10x in value, I keep waiting for it to crash...

    It hasn't happened yet. Obviously that has to change eventually, but I wouldn't bet my life on a crash happening. $1 to $10 seemed insane. $10 to $100 seemed insane. $100 to $600 seemed insane. Betting on it crashing has been a sucker's bet for years.
     
  14. oelman44

    oelman44 Member

    Joined:
    Mar 24, 2012
    Messages:
    4,491
    Likes Received:
    594
    I know, just looking at today's history. I spit out my coffee when I saw the price was 16.3k, so you can imagine my surprise when I saw it actually hit 19. What could possibly be triggering this massive growth?
     
    Ottomaton likes this.
  15. rezdawg

    rezdawg Contributing Member

    Joined:
    Feb 15, 2000
    Messages:
    18,318
    Likes Received:
    1,062
    But in this case, with futures trading on the horizon, it could very well be that the recent run over the last month has been investors and hedge funds pumping money in to inflate the price, only to short it on the back end for huge profits. Obviously speculation, but it can most definitely be the case.
     
    Ottomaton likes this.
  16. ipaman

    ipaman Contributing Member

    Joined:
    Nov 23, 2002
    Messages:
    8,350
    Likes Received:
    1,632
    Greed + Corruption = Opportunity ?
     
  17. oelman44

    oelman44 Member

    Joined:
    Mar 24, 2012
    Messages:
    4,491
    Likes Received:
    594
    Anyone sell anything when it hit 19k?
     
  18. oelman44

    oelman44 Member

    Joined:
    Mar 24, 2012
    Messages:
    4,491
    Likes Received:
    594
    What day does the futures market for bitcoin open?
     
  19. astros123

    astros123 Member

    Joined:
    Mar 28, 2013
    Messages:
    1,531
    Likes Received:
    107
    Institutions pumping money in and making it look like a smart buy for the average Joe then to short it next week.
     
  20. astros123

    astros123 Member

    Joined:
    Mar 28, 2013
    Messages:
    1,531
    Likes Received:
    107
    Sunday afternoon
     
Loading...

Share This Page