600watt, you've just created a future classic citation!
edit: what i meant is that there isn´t enough paper money "backing" the money in account.
Topic: Hardly any 'bubble' talk this time - page 2. (Read 4999 times)
edit: what i meant is that there isn´t enough paper money "backing" the money in account.
Ok, you asked for it!
600watt, you've just created a future classic citation!
Good formulation indeed, I'll remember it. LOL
in past centuries, when banknotes were invented, people were always wondering if that paper was backed by enough gold. we don´t have this problem currently. our problem is that there isn't even enough paper to print all the money in account. 
That's a nice formulation, I'll try to remember it for discussions.
we are in the midst of the mother of all bubbles:
the almighty fiat bubble.
in past centuries, when banknotes were invented, people were always wondering if that paper was backed by enough gold. we don´t have this problem currently. our problem is that there isn't even enough paper to print all the money in account.
the almighty fiat bubble.
in past centuries, when banknotes were invented, people were always wondering if that paper was backed by enough gold. we don´t have this problem currently. our problem is that there isn't even enough paper to print all the money in account.
word
we are in the midst of the mother of all bubbles:
the almighty fiat bubble.
in past centuries, when banknotes were invented, people were always wondering if that paper was backed by enough gold. we don´t have this problem currently. our problem is that there isn't even enough paper to print all the money in account.
edit: italics
the almighty fiat bubble.
in past centuries, when banknotes were invented, people were always wondering if that paper was backed by enough gold. we don´t have this problem currently. our problem is that there isn't even enough paper to print all the money in account.
edit: italics
I do say we're in bubble. But nobody seems to listen or care. Too much frenzy here.
Yes, we might go up to 300 but only to pop much lower.
Yes, we might go up to 300 but only to pop much lower.
I believe most here realize it is bubble. All you need is look how fast the price is rising last days, you dont need to know anything else.
The problem is that there are no good short-selling options with Bitcoin...
I do say we're in bubble. But nobody seems to listen or care. Too much frenzy here.
Yes, we might go up to 300 but only to pop much lower.
Yes, we might go up to 300 but only to pop much lower.
I believe most here realize it is bubble. All you need is look how fast the price is rising last days, you dont need to know anything else.
i used to be bubble babbler in the last bubble, i've learnt my lesson
what lesson?
Their is no bubble
what lesson?
Their is no bubble
The bubble is just beginning.
I do say we're in bubble. But nobody seems to listen or care. Too much frenzy here.
Yes, we might go up to 300 but only to pop much lower.
Yes, we might go up to 300 but only to pop much lower.
That's because there is hardly any bubble this time. Last time it $10 to $260 in relatively short time period. Price should be at least at $500 before we can even began to talk about bubble.
I think this is not true...
We had a jump $140 to $200 in about 24 hours, and then another jump again $200 to $260 (and back to $60) in another 24 hours. It was definitely much slower in the weeks and months before that. Now we moved $155 to $195 in about 24 hours, that is definitely not normal growth. The only moments bitcoin had this growth EVER was during the bubbles. (excluding dead cat bounce after a massive crash)
If you compare side by side the April bubble with the current one, you can clearly see where we are. This speed of growth $140 to $200 is pretty much the same as the part of the previous bubble from $60 to $120. What happened next was a mad jump doubling again $120 to $240 in . If this is any similar we can see price skyrocket to over $300 or $350 in the next couple days, then badly crash, probably to $100 or so.
I suppose, if price is rising $200 to $250 in more than a week or so, then we are almost safe, and the bubble may touch $500 as you say, but that is when it burst, not when we "begin to talk about bubble", as we are just in the middle of one.
+1
It is a bubble but its being led by the chinese and its only just beginning.
I'd like to think so. I'm still all in. But what makes you say "it's only just beginning"? Chinese market is much harder to read.Well, it would be odd if this bubble was smaller than the last seeing as there are far more people involved in bitcoin this time and its closer to 'going mainstream' than before, it just seems obvious that the next bubble, if thats what this is, will be much bigger than the last, and seeing as we are still $60 or so below the last ATH I'd say its just beginning. And I'd say its a bubble because of the parabolic rise, and due to the rise being triggered by news (small Baidu division) that will barely effect the 'underlying bitcoin economy' at all. Also now that gox has been upgraded and shouldn't crash and we have a stronger set of btc/fiat exchanges, and good news on the way such as buttercoin, I'd say we are just getting started. Expecting $300 by the end of next week, after that, who knows, but I'm watching BTCchina. I expect they will take us up to 2000cny which is $320, that could be top or maybe they'll take it way higher? Who knows.
Ok, a few reasons, China wasn't a big player in the previous bubble, but now its booming:
Btcchina is not the only exchange in china (from reddit http://www.reddit.com/r/Bitcoin/comments/1ozilp/two_things_you_should_know_about_the_volume_of/
)
"in fact here are some examples for today:
*btcchina 56,272.00 *huobi 12,916 *btctrade 11,852.32 *okcoin 11,367.01 *btc100 5,929.73 *fxbtc 2,642.48
Some of the sites may be manipulating numbers, but they are roughly OK.
However, they are all doing free trading right now, because of the fierce competition. That should be part of the reason why the volume is so high."
Other massive bullish news:
Bitcoin meets Google Glass with in-store payment app GlassPay
http://www.coindesk.com/bitcoin-meets-google-glass-store-payment-app-glasspay/
Also bitcoin has gained a lot of legitimacy since the last bubble, and silk road going down may allow previously unsure investors to invest: http://www.newstatesman.com/business/2013/10/bitcoin-may-be-let-loose-now-silk-road-has-been-shut-down
This and with buttercoin on the way, and loads of positive news streaming in such as Bitcoin being added to the Dutch dictionary, give the whole thing much more power to go up in price!
It is a bubble but its being led by the chinese and its only just beginning.
I'd like to think so. I'm still all in. But what makes you say "it's only just beginning"? Chinese market is much harder to read.Well, it would be odd if this bubble was smaller than the last seeing as there are far more people involved in bitcoin this time and its closer to 'going mainstream' than before, it just seems obvious that the next bubble, if thats what this is, will be much bigger than the last, and seeing as we are still $60 or so below the last ATH I'd say its just beginning. And I'd say its a bubble because of the parabolic rise, and due to the rise being triggered by news (small Baidu division) that will barely effect the 'underlying bitcoin economy' at all. Also now that gox has been upgraded and shouldn't crash and we have a stronger set of btc/fiat exchanges, and good news on the way such as buttercoin, I'd say we are just getting started. Expecting $300 by the end of next week, after that, who knows, but I'm watching BTCchina. I expect they will take us up to 2000cny which is $320, that could be top or maybe they'll take it way higher? Who knows.
It is a bubble but its being led by the chinese and its only just beginning.
I'd like to think so. I'm still all in. But what makes you say "it's only just beginning"? Chinese market is much harder to read.Well, it would be odd if this bubble was smaller than the last seeing as there are far more people involved in bitcoin this time and its closer to 'going mainstream' than before, it just seems obvious that the next bubble, if thats what this is, will be much bigger than the last, and seeing as we are still $60 or so below the last ATH I'd say its just beginning. And I'd say its a bubble because of the parabolic rise, and due to the rise being triggered by news (small Baidu division) that will barely effect the 'underlying bitcoin economy' at all. Also now that gox has been upgraded and shouldn't crash and we have a stronger set of btc/fiat exchanges, and good news on the way such as buttercoin, I'd say we are just getting started. Expecting $300 by the end of next week, after that, who knows, but I'm watching BTCchina. I expect they will take us up to 2000cny which is $320, that could be top or maybe they'll take it way higher? Who knows.
It is a bubble but its being led by the chinese and its only just beginning.
I'd like to think so. I'm still all in. But what makes you say "it's only just beginning"? Chinese market is much harder to read.
It is a bubble but its being led by the chinese and its only just beginning.
That's because there is hardly any bubble this time. Last time it $10 to $260 in relatively short time period. Price should be at least at $500 before we can even began to talk about bubble.
I think this is not true...
We had a jump $140 to $200 in about 24 hours, and then another jump again $200 to $260 (and back to $60) in another 24 hours. It was definitely much slower in the weeks and months before that. Now we moved $155 to $195 in about 24 hours, that is definitely not normal growth. The only moments bitcoin had this growth EVER was during the bubbles. (excluding dead cat bounce after a massive crash)
If you compare side by side the April bubble with the current one, you can clearly see where we are. This speed of growth $140 to $200 is pretty much the same as the part of the previous bubble from $60 to $120. What happened next was a mad jump doubling again $120 to $240 in . If this is any similar we can see price skyrocket to over $300 or $350 in the next couple days, then badly crash, probably to $100 or so.
I suppose, if price is rising $200 to $250 in more than a week or so, then we are almost safe, and the bubble may touch $500 as you say, but that is when it burst, not when we "begin to talk about bubble", as we are just in the middle of one.
The only problem with this theory is that it is shared by many. And when a recent bubble is so clear in the investor and trader communities psyche, I wouldn't assume patterns will develop in such a predictable manner.
I suspect when the smoke clears this rally will not be compared to April 2013, at least in a way that is meaningful.
Buying back in now is a pretty risky/stupid move.
agreed. still upside risk to be sure, but if you waited until now...... i wouldn't. Jump to: