How much of a bubble is this? - page 3.

adamstgBit

legendary

Activity: 1904

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Trusted Bitcoiner

Quote from: MaxBTC1 on November 17, 2013, 03:53:07 PM

This is a bubble, and if you think otherwise you are an idiot to be frank. This is no 'organic growth'. Bitcoins rise is fuelled by media driven newbie buying who think they can get rich. The crash will come.

no this is the market pricing in the future. its not a bubble, its a dream.

MaxBTC1

newbie

Activity: 56

Merit: 0

This is a bubble, and if you think otherwise you are an idiot to be frank. This is no 'organic growth'. Bitcoins rise is fuelled by media driven newbie buying who think they can get rich. The crash will come.

r00tbg

newbie

Activity: 56

Merit: 0

Each instrument has so on "psychological resistance". In Bitcoin, it was $ 100, then $ 200, then $ 500, ... now is $ 1,000. I guess will break it soon and then will follow a more serious correction (at least 30% correction). Up to $ 1,000 but do not expect correction greater than 10%.
This is just my opinion and should not be taken into account regarding the buying or selling of *coins.

Jrock

sr. member

Activity: 363

Merit: 250

Quote from: ex-trader on November 17, 2013, 03:46:14 PM

Quote from: revans on November 17, 2013, 02:19:22 PM

Quote from: smoothie on November 17, 2013, 01:56:28 PM

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

And that makes sense because?

Chinese adopt it but there is no adoption...lol Cheesy

At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.

At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.

I totally agree with this. I buy Bitcoins because I think they'll go up not because they're any use to me. I totally believe that 99% of the bitcoin buyers are like this, does anyone really believe that all the people buying BTC through exchanges and forcing the price up are doing so because they want to spend it - really, how, where.

The real truth that no-one wants to acknowledge is that the actual Bitcoin economy i.e. not gambling, mining or speculation is still virtually non-existent. If it were growing someone would be shouting about it, yet all I hear is silence....

+1 There's some true believers out there. Most are just in it for the profit though.

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: revans on November 17, 2013, 02:19:22 PM

Quote from: smoothie on November 17, 2013, 01:56:28 PM

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

And that makes sense because?

Chinese adopt it but there is no adoption...lol Cheesy

At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.

At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.

I totally agree with this. I buy Bitcoins because I think they'll go up not because they're any use to me. I totally believe that 99% of the bitcoin buyers are like this, does anyone really believe that all the people buying BTC through exchanges and forcing the price up are doing so because they want to spend it - really, how, where.

The real truth that no-one wants to acknowledge is that the actual Bitcoin economy i.e. not gambling, mining or speculation is still virtually non-existent. If it were growing someone would be shouting about it, yet all I hear is silence....

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: smoothie on November 17, 2013, 01:56:28 PM

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

And that makes sense because?

Chinese adopt it but there is no adoption...lol Cheesy

Its because the Chinese don't count, obviously.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: revans on November 17, 2013, 02:19:22 PM

Quote from: smoothie on November 17, 2013, 01:56:28 PM

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

And that makes sense because?

Chinese adopt it but there is no adoption...lol Cheesy

At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.

At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.

evidence please

revans

sr. member

Activity: 336

Merit: 250

Quote from: smoothie on November 17, 2013, 01:56:28 PM

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

And that makes sense because?

Chinese adopt it but there is no adoption...lol Cheesy

At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.

At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.

revans

sr. member

Activity: 336

Merit: 250

Quote from: bitcon on November 17, 2013, 01:05:59 PM

Quote from: Crazy on November 17, 2013, 12:39:30 PM

Quote from: BittBurger on November 17, 2013, 12:30:33 PM

Bitcoins "inherent value" is its usefulness around the world.

Usefulness to... invest and make quick money? Cheesy

School me on what else people are buying for atm...

future buying power as a tool against moneary inflation

Which only works if you can

a) get more retailers to accept Bitcoin

b) Find a greater fool so you can cashout into state fiat.

Not much meaningful progress on point a) despite a lot of hyperbole, and b) is only going to get harder as regulators start to turn the screw

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

Quote from: BittBurger on November 17, 2013, 12:30:33 PM

Its not a bubble.

I repeat.

Its not a bubble.

Bitcoin is NOT A STOCK.

People need to stop comparing it to stock behavior.

Bitcoin is increasing in value as its adoption around the world increases.

The adoption by China caused a $200 jump.

As other large groups adopt, the value will increase.

Bitcoins "inherent value" is its usefulness around the world.

The more people who use it, the higher the value goes.

This is not a "pretend" stock exhange with "monopoly money" like the financial guys keep babbling about (tulips, beanie babies, etc).

This is a new technology that is about 2% of the way towards worldwide adoption, and its already valued at $500.

Do the math.

This times 100.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

And that makes sense because?

Chinese adopt it but there is no adoption...lol Cheesy

bitcon

legendary

Activity: 2212

Merit: 1008

Quote from: Crazy on November 17, 2013, 12:39:30 PM

Quote from: BittBurger on November 17, 2013, 12:30:33 PM

Bitcoins "inherent value" is its usefulness around the world.

Usefulness to... invest and make quick money? Cheesy

School me on what else people are buying for atm...

future buying power as a tool against moneary inflation

Crazy

full member

Activity: 182

Merit: 106

Quote from: BittBurger on November 17, 2013, 12:30:33 PM

Bitcoins "inherent value" is its usefulness around the world.

Usefulness to... invest and make quick money? Cheesy

School me on what else people are buying for atm...

BittBurger

hero member

Activity: 924

Merit: 1001

Its not a bubble.

I repeat.

Its not a bubble.

Bitcoin is NOT A STOCK.

People need to stop comparing it to stock behavior.

Bitcoin is increasing in value as its adoption around the world increases.

The adoption by China caused a $200 jump.

As other large groups adopt, the value will increase.

Bitcoins "inherent value" is its usefulness around the world.

The more people who use it, the higher the value goes.

This is not a "pretend" stock exhange with "monopoly money" like the financial guys keep babbling about (tulips, beanie babies, etc).

This is a new technology that is about 2% of the way towards worldwide adoption, and its already valued at $500.

Do the math.

mvidetto

sr. member

Activity: 462

Merit: 250

Once exchanges start going up $100+ a day, then we are is serious bubble mode. If it gets to that point I would seriously consider selling. But, then again I'm just trading on EMA's so it doesn't really matter either way.

zeroday

donator

Activity: 784

Merit: 1000

Who cares if anyway you have your btc value at least doubled in a year, even if you buy at the very peak of the "bubble".

Nobody really knows where is the top and where is the bottom.

It means that 80% of people who sells btc during rally will regret it in the next 12 months. Of course, the lucky 20% of sellers will re-buy cheap and gain more btc.

In Las Vegas you have more chances to win just betting on red or black than while speculating bitcoin.

Still want to gamble?

P.S. I'm talking about assets denominated in bitcoin. If you looks for gaining USD/EUR, just sell now and buy your extra big mac as a prize.

Zarathustra

legendary

Activity: 1162

Merit: 1004

October 10 to June 11 we saw a 500-fold price increase. The actual bubble is still very small in relation to that one.

EvilPanda

hero member

Activity: 658

Merit: 500

Small Red and Bad

Quote from: mvidetto on November 17, 2013, 10:44:05 AM

Quote from: EvilPanda on November 17, 2013, 07:33:21 AM

I opt for a crash. Price is purely dictated by chinese market. There was no adoption, no major company support and still the price trippled in just a month. China goes up and sudenly all other markets follow without thought. If they decide to sell, for whatever reason, whole world will sell in panic.

Coinbase and mtgox are both above btcchina, I'm not sure how they're following china. If anything currently china is following the usd/btc.

Watch the timeline. Today chinese started buying and immediately all other exchanges went up. I was watching the charts today and a minute after a chinese rise there was immediate rush of other exchanges.

billym2k

full member

Activity: 126

Merit: 100

Yeah, though I dunno what else there is to say to be honest.

Yes, all indications show we are in a bubble. Nobody knows when it will pop.
Yes, there will be corrections upcoming, possibly steep ones. No one knows when or how steep.
Historically, bubbles have lasted longer than this one before popping. No one knows if that will be the case for this one.

ardana123

hero member

Activity: 504

Merit: 500

Quote from: billym2k on November 17, 2013, 10:55:36 AM

This might help give an idea: http://lpplmarketwatch.blogspot.de/2013/11/the-bubble-index-bitcoin-november-16.html

What are they saying exactly in that article, besides "there's a bubble and investors should be cautious."?

Topic: How much of a bubble is this? - page 3. (Read 5564 times)