Topic: Bitcoin - Mass Hysteria Vector (Read 848 times)
I've always predicted that bitcoin will grow through a series of bubbles. It's almost impossible for a technology like this to grow smoothly; it's too easy to trade, to fast to create bubbles and people never learn. As long as each bubble ends up considerably higher than it started though, I'm OK with that.
I recently saw people comparing Bitcoin with stocks and I think it's a huge mistake, bitcoin is money actually and right now in a massive speculative bubble. Also, we tend to forget bitcoin is exclusively created in the era of the internet, exclusively for internet and that means only one thing: SPEED. Speed in adoption, Sped in growth and Sped in crashing.
Now, what about the mass hysteria? Bitcoin it's innovation, it's genius, it's freedom. There will be a moment in the next few years when everybody will hear about it and want it, at least 0.001, regardless the price. I sincerely think that in a medium term future we will witness mass hysteria in 2 waves: 1st will buy the average traders/investors (I think right now most of them are the top ones, with some experience and money to spare) and 2nd, most powerful, when average peasant will buy.
That will be a hella of a ride. It will be almost the same as average people own gold today. Not as 99.99 1-oz bullion, but as necklaces and jewelries of 5-gram. I expect these people won't afford to spend more than $200-1000, so lots of digits after the decimal in their wallet.
0.005 or something
Now, what about the mass hysteria? Bitcoin it's innovation, it's genius, it's freedom. There will be a moment in the next few years when everybody will hear about it and want it, at least 0.001, regardless the price. I sincerely think that in a medium term future we will witness mass hysteria in 2 waves: 1st will buy the average traders/investors (I think right now most of them are the top ones, with some experience and money to spare) and 2nd, most powerful, when average peasant will buy.
That will be a hella of a ride. It will be almost the same as average people own gold today. Not as 99.99 1-oz bullion, but as necklaces and jewelries of 5-gram. I expect these people won't afford to spend more than $200-1000, so lots of digits after the decimal in their wallet.
0.005 or something
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