Topic: Bitcoin the Bubblecoin - page 3. (Read 5378 times)
I understand and it’s a good idea but not at this stage in the game. Bitcoin cannot be or act like a currency yet.
Bitcoin is not a currency it’s a steak. My corner grocer had T-bones on sale last week for $5.99 a pound, this week they’re $10.99 and next week they might be $6.99. You are never going to know the exact price of btc or steak until you check the price today. Welcome to the world of commodity trading; glad you could join us.
I guess that's why we don't barter much anymore. Bitcoin would be more useful as a currency than a commodity. I'm just trying to offer a way to make it so. 
u say bubble i say easy money
Bitcoin is not a currency it’s a steak. My corner grocer had T-bones on sale last week for $5.99 a pound, this week they’re $10.99 and next week they might be $6.99. You are never going to know the exact price of btc or steak until you check the price today. Welcome to the world of commodity trading; glad you could join us.
I've been talking with a friend of mine for over two years about investing in Bitcoin. He is not at all interested. He calls it bubblecoin and has a point. Bitcoin will always trade at plus or minus 50% or more and will never stabilize. There is no plan to create any stabilizing factor. Simply expanding the user base will not stop people from pumping and dumping and causing panics. If this were true, then small countries would generally have unstable currencies and large countries would have stable currencies.
Price is psychological and there are no psychological tools to create faith in the price stability, nor is there even any discussion about it. Psychology, sociology, and economics uses statistics to create useful tools. Bitcoin uses "invisible hands" of the free market. Analysts use statistics to look at the market, but their results are not peer reviewed, nor even publicly available. Market analysts are the soothsayers of economics. We need a useful predictive tool for Bitcoin price that is useful for business.
Price is psychological and there are no psychological tools to create faith in the price stability, nor is there even any discussion about it. Psychology, sociology, and economics uses statistics to create useful tools. Bitcoin uses "invisible hands" of the free market. Analysts use statistics to look at the market, but their results are not peer reviewed, nor even publicly available. Market analysts are the soothsayers of economics. We need a useful predictive tool for Bitcoin price that is useful for business.
Don't take bitcoin as an investing tool, which is too dangerous to even think of.
Regard bitcoin as a revolution of society and investigation of an idea, which is much better to be more serious.
Bitcoin will always trade at plus or minus 50% or more and will never stabilize.
Relative to what? Who says bitcoin must forever be priced in USD?
Bitcoin will always trade at plus or minus 50% or more and will never stabilize.
Relative to what? Who says bitcoin must forever be priced in USD?
I do not think it is wise to invest USD into BTC to make more USD. I think that people need to get into btc and use it as money. As time goes on and the user base grows I think it should be easier to be immersed in the economy. It will not stop the price from fluctuating, it will just make it less noticeable. You will still be able to tell if the price goes up and down over the years, but over the days it will probably not be noticed. The price of USD in terms of other currency constantly fluctuates, but it is not a concern for most people.
So, I don't think it needs to stabilize. We just need to be able to buy what we want with the btc we earn.
So, I don't think it needs to stabilize. We just need to be able to buy what we want with the btc we earn.
It's interesting to see it turn into a kind of commodity/currency hybrid... but I wonder what the long term effects on the price will be (like decades from now)
1.) We know that over time the rate at which coins are created will taper off, making btc even more scarce
2.) We also know that over time btc will reach pretty much every available market it can reach, saturating the number of people available and willing to adopt the tech.
In the far future I wouldn't be surprised to see some kind of price stability, albeit very high. Somewhat similar to the Berkshire Hathaway stock price, the shares never split.
Another thing to consider is that as the price gets higher and higher, the market becomes harder to manipulate. A thousand dollars could have bought you more than a thousand BTC in the early days (a significant percentage of the total market) but these days a thousand dollars can only buy you a few bitcoins (a much smaller share of the market)
As the price goes higher, I think some of the larger holders will be tempted to dilute their holdings and sell off some as well. Either that or some kind of mechanism encourages the centralization of most bitcoin holdings, in which case we're pretty much screwed by a small number of major market players...
1.) We know that over time the rate at which coins are created will taper off, making btc even more scarce
2.) We also know that over time btc will reach pretty much every available market it can reach, saturating the number of people available and willing to adopt the tech.
In the far future I wouldn't be surprised to see some kind of price stability, albeit very high. Somewhat similar to the Berkshire Hathaway stock price, the shares never split.
Another thing to consider is that as the price gets higher and higher, the market becomes harder to manipulate. A thousand dollars could have bought you more than a thousand BTC in the early days (a significant percentage of the total market) but these days a thousand dollars can only buy you a few bitcoins (a much smaller share of the market)
As the price goes higher, I think some of the larger holders will be tempted to dilute their holdings and sell off some as well. Either that or some kind of mechanism encourages the centralization of most bitcoin holdings, in which case we're pretty much screwed by a small number of major market players...
I've been talking with a friend of mine for over two years about investing in Bitcoin. He is not at all interested. He calls it bubblecoin and has a point. Bitcoin will always trade at plus or minus 50% or more and will never stabilize. There is no plan to create any stabilizing factor. Simply expanding the user base will not stop people from pumping and dumping and causing panics. If this were true, then small countries would generally have unstable currencies and large countries would have stable currencies.
Price is psychological and there are no psychological tools to create faith in the price stability, nor is there even any discussion about it. Psychology, sociology, and economics uses statistics to create useful tools. Bitcoin uses "invisible hands" of the free market. Analysts use statistics to look at the market, but their results are not peer reviewed, nor even publicly available. Market analysts are the soothsayers of economics. We need a useful predictive tool for Bitcoin price that is useful for business.
Price is psychological and there are no psychological tools to create faith in the price stability, nor is there even any discussion about it. Psychology, sociology, and economics uses statistics to create useful tools. Bitcoin uses "invisible hands" of the free market. Analysts use statistics to look at the market, but their results are not peer reviewed, nor even publicly available. Market analysts are the soothsayers of economics. We need a useful predictive tool for Bitcoin price that is useful for business.
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