Very well put. Kind of hard to argue against it. One person recently asked when Bitcoin would return back to "normal", sent them a link to an all-time price chart and asked which side of the spike was "normal"? Lol. Bitcoin is cool, and useful in some applications such as, maybe, international transactions, but probably best not to treat it as a store of value, unless you have a small amount for speculation... and speculation doesn't look too hopeful for BTC right now.
Have a good day,
The Cyberius team
Topic: BITCOIN: This Bubble is Different - page 2. (Read 703 times)
The dot-com bubble was a historic economic bubble and period of excessive speculation mainly in the United States that occurred roughly from 1995 to 2000. Most large IT companies took massive hits during this period, but they managed to bounce back in less than 5 to 7 years and they are giants now.
Bitcoin is the largest Crypto currency out there and it can be compared to the large IT companies back then. Bitcoin will bounce back again and when it does, it will be larger than these IT companies combined.
Bitcoin is the largest Crypto currency out there and it can be compared to the large IT companies back then. Bitcoin will bounce back again and when it does, it will be larger than these IT companies combined.
Buying high and selling low is your choice to make and no one will get arrested for that ,this bubble is indeed different I bet before we see another bullrun will take years and many who think they are strong now will eventually give up ,this will be the longest bearish market in history of bitcoin
Today BITCOIN has collapsed down 90% year-2-date, and still dropping like a rock from a hot-air balloon.
You never measure loss over a period of 1 year because it's meaningless. It can be more than 100% yearly loss and many stocks have experienced it! A cycle in traditional markets usually takes much longer than 1 year. Sometimes more than 10 years. Are you trying to intentionally make it look worse than it is? some people can't see the trends on time, they are always late and switch directions way too late. in case of OP he is obviously just realized that he has lost money because he bought in to the "actual" bubble and never changed his direction with the market an now that we are already 85% below the ATH he has realized there was a bubble and now started to change his direction missing the fact that he is once again too late since the downtrend is almost done!
I've seen this rise and fall so many times now, the long term holders and investors in the REAL economy of crypto will succeed. Cryptos are here to stay. They are the evolution of money.
The money is never lost! It only goes from one asset to the other. It changes form but it isn't lost. If somebody bought Bitcoin high and sold low his money did not disappear. It changed its form from digital decentralized money into fiat money. You can't sue anybody for being an idiot who buys high and sells low.
Sounds simple right? Yet i'm surprised about how hard it is to understand for some minds though. I believe however that people will start to notice something about it in the future and slowly but surely get more traction while we go towards mass adoption of the currency itself.
The best part of it is that whether people look for profits or help improve the world a bit, everybody will win.
Today BITCOIN has collapsed down 90% year-2-date, and still dropping like a rock from a hot-air balloon.
You never measure loss over a period of 1 year because it's meaningless. It can be more than 100% yearly loss and many stocks have experienced it! A cycle in traditional markets usually takes much longer than 1 year. Sometimes more than 10 years. Are you trying to intentionally make it look worse than it is? The problem now is there are 1,000's of lawsuits pending all over the world, because some +$500 BILLION was lost, some speculate over $800 Billion. Gone evaporated, which means millions of people lost their lost savings, they are angry, they are mad, and they will seek restitution.
The money is never lost! It only goes from one asset to the other. It changes form but it isn't lost. If somebody bought Bitcoin high and sold low his money did not disappear. It changed its form from digital decentralized money into fiat money. You can't sue anybody for being an idiot who buys high and sells low.
Me thinks these miners will end up in some place maybe venezuela, where people can steal electricity.
It's going to be quite difficult to get mining hardware into Venezuela, as the Venezuelan government has banned the imports of cryptocurrency mining equipment[1][2]. Probably the only way for Venezuelan to mine is to use their personal hardware(which is definitely not profitable when talking about mining BTC). Venezuelans are going to be farming RuneScape gold for a while.
[1] https://www.ccn.com/venezuela-bans-imports-of-cryptocurrency-mining-equipment-report/
[2] https://blockexplorer.com/news/venezuela-bans-crypto-mining-rigs-from-entering-the-country/
And yet lots of asic miners made it, apparently even Pangolin has successfully sent them via DHL. Its actually not banned, but you are supposed to get a "mining/import permit". There is also people smuggling them, at least last year when things were bad with customs.
A $150 S9 in Venezuela ends being sold in the local market for about $500. Quite the irony...
If you steal electricity for mining, you will probably go to prison and all your equipment seized. Electricity here is cheap enough so there is no need to do that, and its very stupid to do it... Just rent an industrial type warehouse and use the capacity installed. There are LOTS of empty warehouses due to the broken economy...
There are people farming Runescape and other games, others doing various internet jobs, of course. Anything paid in foreign/crypto currency, can bring food to your table.
Now you have to understand the authorities are corrupt, if you "look" rich, they will want to extort money from you, regardless. But if you have acquaintances in the right positions, things can magically enter. Sometimes its simply luck, either good or bad.
To install a big farm you'll probably want to obtain a permit and meet with the gov officials first, just to reduce the chance of wrong doings from the authorities. There is an institution that "regulates" crypto activities, but of course this is a Maduro government institution, things might change completely if Maduro falls, as he might due to the recent development...
Anything that has a price and opportunity for speculation can be a bubble. It is very difficult to determine the value of something. Especially when it is traded in several markets around the world.
If you believe the price will stabilize at 1400USD, you do not believe it's a bubble. You're just betting on a devaluation.
If you believe the price will stabilize at 1400USD, you do not believe it's a bubble. You're just betting on a devaluation.
sorry sweetheart you are way too late to the party. the "bubble" has been over for over a year now and it was not different from any other bubbles that we had seen before it and the market is not that different either. the only thing you might find different is the duration of the different stages that the market HAS TO take but that is not enough to make it "different".
the rest of the things you are putting in this wall of text is just you trying to fill in some space pretending you are reasoning....
the rest of the things you are putting in this wall of text is just you trying to fill in some space pretending you are reasoning....
upvote
It's not the bubble. Seems like some people heard the word bubble and now use it everywhere. Understand me please, only in the situation when bitcoin will touch 0 it may be called as bubble. Right now it's a simple temporary drop.
Bitcoin's bubble has come and gone and we all witness it. The time for its coming back is what we are expecting within the first quarter of the year 2019, then bitcoin will have a breather rally for all to see.
in fact, the condition of bitcoin is currently going up and down and this happens not only this year, but the previous year has also happened. so I think the bitcoin up and down is certainly reasonable.
It is in the trend and is considered normal as far as every pro out there is concerned. My friend's advice? Don't falter, we haven't seen the bottom yet. Once we have seen it, it will go back up again.
It really is. We just have to wait.
wait till "your" death.....
Bitcoin's bubble has come and gone and we all witness it. The time for its coming back is what we are expecting within the first quarter of the year 2019, then bitcoin will have a breather rally for all to see.
in fact, the condition of bitcoin is currently going up and down and this happens not only this year, but the previous year has also happened. so I think the bitcoin up and down is certainly reasonable.
It is in the trend and is considered normal as far as every pro out there is concerned. My friend's advice? Don't falter, we haven't seen the bottom yet. Once we have seen it, it will go back up again.
It really is. We just have to wait.
Bitcoin's bubble has come and gone and we all witness it. The time for its coming back is what we are expecting within the first quarter of the year 2019, then bitcoin will have a breather rally for all to see.
in fact, the condition of bitcoin is currently going up and down and this happens not only this year, but the previous year has also happened. so I think the bitcoin up and down is certainly reasonable.
Bitcoin itself is not a bubble, but rich people began to pump up bitcoin and it was blown away. This is a normal phenomenon and now many people have learned about Bitcoin and they are willing to invest if the market turns around.
Bitcoin's bubble has come and gone and we all witness it. The time for its coming back is what we are expecting within the first quarter of the year 2019, then bitcoin will have a breather rally for all to see.
sorry sweetheart you are way too late to the party. the "bubble" has been over for over a year now and it was not different from any other bubbles that we had seen before it and the market is not that different either. the only thing you might find different is the duration of the different stages that the market HAS TO take but that is not enough to make it "different".
the rest of the things you are putting in this wall of text is just you trying to fill in some space pretending you are reasoning....
the rest of the things you are putting in this wall of text is just you trying to fill in some space pretending you are reasoning....
Like always this price drop which seems like a burst of a bubble will led to a high price increase because even Bitcoin price dropped it will recover perfectly so definitely it will reach to it's correct price in the future but it might take a while to happen that and the only thing it needs is more time and with this kind of price there will be a certain level of demand increase because many new traders will attracted due to the lower price and it can also help to increase the value and recover quickly
There's no international bubble?Are you kidding me?
Every big multinational corporation is an international bubble.Amazon,Apple,Facebook,the list oges on and on...
Their stocks are pumped and overpriced,due to the fiat money printing machine.They are far worse bubbles than bitcoin.
Every big multinational corporation is an international bubble.Amazon,Apple,Facebook,the list oges on and on...
Their stocks are pumped and overpriced,due to the fiat money printing machine.They are far worse bubbles than bitcoin.
what a long load of crap about bitcoin. i sometimes wonder how old are those who come up with these stuff! because someone with basic understanding of economics and value of things wouldn't even say 80% of the nonsense that OP posted here.
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