Topic: Be careful. (Newbies and others ...) - page 3. (Read 3054 times)

If the price drops to as low as your saying, would you be picking up as much cheap af bitcoin that you can in the hopes that it’ll go back up!

We are definitely in a bubble and there is no doubt about it.

However i don't think that we are at the top yet, especially if the China news that everyone has been talking about turns out to be false. If it was confirmed to be fake news by the Chinese press then it is extremely likely we will see price go back to close to $5000 or even beyond that.

But great warning, people are acting really irrationally recently. The bubble will eventually pop and we could see $2000-3000 levels again, but i'm just not sure if it's going to be this year or the next.

Just wait until a good sell signal on the 2h or 4h and short the crap out of this thing, thank me later. Will probably be around 4450-4550.

No, it is unreasonable to say that bitcoin will go down to $ 3k, bitcoin is a popular currency, with market demand, it will not go down too much, it may even go up soon.

I disagree with your view of $4950 likely be the end of a bubble. In My view bitcoin is not yet even in the  bubble as we are still at the infancy stage of bitcoin and blockchain technology development. I do expect bitcoin to remain above $4000 for the remaining part of this year and I don't think we have any significant reason why bitcoin should go bearish except the games of media we are seeing playing from China to outrightly control bitcoin prices.

I think if Bitcoin can keep its bullish trend in long term like 5-10 years or like Gold from 2010 till today, it still good. You and me also know an asset grow fast always have risk breakdown anytime and we will lose our money if it becomes the truth.

Anything can happen in this market,you cannot say for certain that the price wont go back to $3000,there is a point OP made,yes we made a huge jump in price in the past few months and the rally was amazing and the flip side is that the market could go down as fast too,so be careful with your investment and in the long run it is true that the price of bitcoin will skyrocket but not at a faster pace.

I think this conditions are now different, the current user is increasing and not dominated by some people or groups. bitcoin will continue to skyrocket though sometimes down and I'm sure the price will not happen $ 3000.

I really don't know what to say but I am not against to what you have said and pointing out as it has a logical way of thinking and explanations but Bitcoin is different to any kind of Fiat currency especially the market of it as it is traded worldwide and many people really believe in it.

I don't see the day that Bitcoin will go back to $1,000 price because it literally symbolizes a bubble even though it is not. Everything can happen though but no one can really tell what will.

d5000
I do not know if this is a dip or not
But you just saved me loads of money.

XD

Yup! I think about doing the same thing if this coming Hard Fork will be inevitable and if bitcoin would surely split again it could be terrible indeed, risky in terms the impending Fork can be worst, but I think I will keep my half of my coins to bitcoin and left it stay in a safe cold storage, but right now a speculation can still stay as an speculation and we can really never know what can happen in November.

My understanding is that you can spend your bitcoin without thinking about taxation on your side up to 600$ per transaction.
Here is an article of our beloved fortune http://fortune.com/2017/09/07/cryptocurrency-bitcoin-tax

In any case, you made me worried now and I set up a stop loss bot. Let's hope I won't have to use it
I still think that regardless of adoption, bc can be an alternative for gold. Certainly nobody would want to spend any bitcoin around as long as they raise at a rate of 2000% yearly!

Bitcoin value doubled twice this year a long. Now that everybody put the money in bitcoin soon they'll be dumping their coins profits I think.

We may we'll be in a bubble, the bubble may well pop and the price fall to the last bubble top $1100 ish. But then there will be another bubble with a 20-30x rise from 1100 base to 20-30K and you will still quadruple your money from now in the next 4-5yrs. HODL what you have, don't get left out if the bubble doesn't pop and the price keeps rising.

I myself hate to admit it, but bitcoin being in a bubble could still be a fact after all these months. Just like what you mentioned, there are still few merchants that thoroughly accepts bitcoin as a payment method even though the price surged drastically. It's a scary assumptions, but things around bitcoin (economy, merchants, nodes etc.) suggest that this certain price range wouldn't hold and it's caused by artificial price manipulations--just like 2013.

In my opinion, it is an indicator. It is not the one and only indicator. For a better picture of Japanese reality one would have to perform an investigation on Bitcoin acceptance by shops. For me, the language barrier unfortunately is too high to do that.

The countries I best know regarding adoption are Germany and Argentina. In Germany (#2 on the node ranking) there is a small adoption, also by some online services like Lieferando, but that has practically not changed much since 2013/14. In Argentina there was a little boom in 2013/14, mostly due to Bitcoin being then a relatively easy and cheap way to access foreign currency (from 2012 to 2014 foreign currency buys were extremely restricted, and until late 2015 there remained weaker restrictions). There continue to be services but very probably not more than in 2014.

There were other countries with more growth, but on a low level, and it's not justifying a 30x increase in price.


That has low incidence on that stat, I think.


You should only accept payments of low importance with a SPV wallet. Only a full node gives you the opportunity to not being scammed. Most small businesses, in fact, are using Electrum or even centralized providers. So a small number of full nodes should be an indication that there are only small businesses using Bitcoin, or that they are using services like BitPay.


I have also not called "bitcoin" "a bubble", but many assets sometimes overheat, and I think with Bitcoin it's the case now, as it was 2011 and 2013.

My goal with this thread is also not to spread negativity. But there are many newbies that are thinking that they still can be rich with Bitcoin if they invest their savings. I think that's not the case and so I issued this "warning", to avoid to many people being burnt. Maybe I'm wrong and we go straight up to $50.000 but I think it's very unlikely.

number of full nodes, specially a number that particular site shows is not at all an indication of adoption, or number of businesses.
because first of all that number is reachable nodes whereas a lot more nodes exist but they don't accept incoming connections and sites like above will never list them.
secondly is that businesses don't have to run a full node to accept bitcoin! it can be various ways, even a daemon using Electrum (an SPV wallet) can be used to receive payments.


p.s. i will never call bitcoin a bubble, near bubble top,... i would be disappointed if i do.

Bitcoins aren't a hyped up stock. They aren't just people trying to profit. If you actually believe in the technology you'll never sell and only keep buying. It's worth so much more than $5000 each and if you don't understand why then you don't understand how your local money supply works.

Well said, but i'm not sure about all 100% that you wrote. I mean, yes bitcoin might be near the top of a bubble but do you see 3 days ago when the price fall because of the news from china ? It was dropped but the price coming back to $4,500+. I don't know when the bubble will popped, but just be ready for it.