If the 75$/bitcoin price was a bubble

hope4me

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Quote from: Peter R on January 05, 2014, 12:35:15 AM

Quote from: bassclef on January 04, 2014, 11:32:33 PM

$75 Bitcoins. Seems like it was only yesterday.

And the price seemed expensive because only two months before (in January) it was under $15.00. This was right around the time that I learned about bitcoin. I was disappointed because I felt I had missed the opportunity to participate in what I thought was a completely mind-blowing technology that I was sure would change the world. I can see now that I was in fact an early adopter, and I also believe that people learning about bitcoin today will feel this way in a year or two as well.

Your right, I was in similar situation. I believe it is reason why it takes few months for many before they buy first Bitcoins

addictivegaming

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Quote from: Peter R on January 05, 2014, 12:35:15 AM

Quote from: bassclef on January 04, 2014, 11:32:33 PM

$75 Bitcoins. Seems like it was only yesterday.

And the price seemed expensive because only two months before (in January) it was under $15.00. This was right around the time that I learned about bitcoin. I was disappointed because I felt I had missed the opportunity to participate in what I thought was a completely mind-blowing technology that I was sure would change the world. I can see now that I was in fact an early adopter, and I also believe that people learning about bitcoin today will feel this way in a year or two as well.

Yep, and I thought it was too expensive at $15, because only a little while earlier it was $8.

Nowadays, $850 doesn't feel all that expensive because of the tremendous upward potential.

pjviitas

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Quote from: Canaanite on March 24, 2013, 07:06:23 AM

It would explode yesterday (23/03/2013)
Losing 30% of its value in few hours and than recover means the value is valid, don't you guys think so?

Although people tend forget that 30% decrease out of 75 is 52.5 while 30% decrease out of 20 is 14 the latter doesn't looks that scary as the first one Wink

What you are talking about is totally subjective.

Personally I don't even give a second thought to spending anything less than a $50 bill...for some its a $5 bill and to others its a $10,000 bill (if they made such a denomination)

My point is that everyone has a comfort level in a market depending on their position in that market.

solex

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100 satoshis -> ISO code

Quote from: smoothie on January 04, 2014, 11:32:43 PM

Quote from: sir faps on January 04, 2014, 11:22:42 PM

If you had bought on the day this topic was created, and held, you'd be sitting on 1000% profit!

If

IF

The biggest word in the English language. Especially when used in relation to matters of Bitcoin.

Peter R

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Quote from: bassclef on January 04, 2014, 11:32:33 PM

$75 Bitcoins. Seems like it was only yesterday.

And the price seemed expensive because only two months before (in January) it was under $15.00. This was right around the time that I learned about bitcoin. I was disappointed because I felt I had missed the opportunity to participate in what I thought was a completely mind-blowing technology that I was sure would change the world. I can see now that I was in fact an early adopter, and I also believe that people learning about bitcoin today will feel this way in a year or two as well.

undeadbitcoiner

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Undeadbitcoiner Will not DIE until 1BTC=50K

Quote from: bassclef on January 04, 2014, 11:32:33 PM

$75 Bitcoins. Seems like it was only yesterday.

Todays $900 also if you will be late then again think was yesterday but will regret in that days price around 10K

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: sir faps on January 04, 2014, 11:22:42 PM

If you had bought on the day this topic was created, and held, you'd be sitting on 1000% profit!

If

bassclef

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$75 Bitcoins. Seems like it was only yesterday.

sir faps

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If you had bought on the day this topic was created, and held, you'd be sitting on 1000% profit!

klee

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Quote from: Elwar on March 25, 2013, 04:53:21 PM

Quote from: klee on March 24, 2013, 03:28:31 PM

1 Buy
2 Hold
3 GOTO1

4

5 Profit!

Error 4: unreachable statement

LOL either there is a bug here in my code or indeed there is no profit in Bitcoin!!

Elwar

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Viva Ut Vivas

Quote from: klee on March 24, 2013, 03:28:31 PM

1 Buy
2 Hold
3 GOTO1

4

5 Profit!

Error 4: unreachable statement

Vladimir

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-

It is just market fucking with payment processor of Avalon that is trying to dump BTC.

evolve

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daytrader/superhero

Quote from: Canaanite on March 24, 2013, 07:06:23 AM

Losing 30% of its value in few hours and than recover means the value is valid, don't you guys think so?

Nope. Huge swings in price that increase as the price gets higher doesn't validate the price, if anything it points to this being a bubble driven by speculation.

I've been warning you guys to be careful since the high 20's...yet I still see people leveraging debt to jump into the market. Yes there is still a lot of potential upside (hell, I still have a few bucks in the game), but most of you are going to get burned because you are too scared to take profits and are buying into the "new paradigm" hype (ie: 1 BTC will be worth millions of dollars, traditional investment wisdom doesn't apply, etc).

Wekkel

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yes

I am not that enthusiastic Cool

It's the technology that interests me.

Matthew N. Wright

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Quote from: Wekkel on March 24, 2013, 04:03:37 PM

Would you rather hold fiat in a PIGGS bank?

Bernanke prints 4 BTC markets a day. It's buy and hold for me. And of course I use BTC when convenient.

Money isn't emotional. Once a bitcoiner starts reacting emotionally and convulsing in anger and neckbeard rage, it throws up red flags as to their true intentions. Stop being emotional about money. It's purely a question of logic-- which will fall easier and quicker, the broken USD market that is backed and believed in by most everyone in the world and the US military, or a private beta project backed by speculators looking to get rich quick?

Hold BTC, hold USD. When you emotionally object to holding other currencies than bitcoin, people expect the next words from you to be about reptilian overlords.

Wekkel

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yes

Would you rather hold fiat in a PIGGS bank?

Bernanke prints 4 BTC markets a day. It's buy and hold for me. And of course I use BTC when convenient.

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: Matthew N. Wright on March 24, 2013, 03:34:48 PM

Reading this gave me a sick feeling in my stomach. Do you honestly think that in order to believe in bitcoin (which we'll consider for the time being as being a public company stock, because that's exactly what it is) you have to *buy* it even when you don't need any bitcoins? Buy bitcoins when you need them, sell them when you don't. That's what a *currency* is for. Do you buy Canadian currency regularly while living in America? Do you buy Korean Won while living in Africa? Do you put money into your paypal account when you have no intention of paying for anything with Paypal this month? Why would anyone who believes in Bitcoin as a currency act in this way?

Okay, so you're not believing in it as a currency (good, because it's not one), but as a stock of a public company, whose owners are *everyone* who uses it and the stock splits every block. Fine. Then you're involved in bitcoin as an investment scheme.

To summarize:

If you believe in bitcoin, use it.
If you want to play the lottery and get rich quick, take the risk of buying some and holding them.

Just like you keep some $ in your wallet, you probably want to hold some BTC even if you just want to use it as a currency right now. I spent a few of mine last week and by the time I replenished them, the price was up over $5.

Matthew N. Wright

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Quote from: gollum on March 24, 2013, 09:35:27 AM

If you believe in bitcoin you should invest in bitcoin with at least 10% of your salary each month plus make a big onetime buy on a dip.

Reading this gave me a sick feeling in my stomach. Do you honestly think that in order to believe in bitcoin (which we'll consider for the time being as being a public company stock, because that's exactly what it is) you have to *buy* it even when you don't need any bitcoins? Buy bitcoins when you need them, sell them when you don't. That's what a *currency* is for. Do you buy Canadian currency regularly while living in America? Do you buy Korean Won while living in Africa? Do you put money into your paypal account when you have no intention of paying for anything with Paypal this month? Why would anyone who believes in Bitcoin as a currency act in this way?

Okay, so you're not believing in it as a currency (good, because it's not one), but as a stock of a public company, whose owners are *everyone* who uses it and the stock splits every block. Fine. Then you're involved in bitcoin as an investment scheme.

To summarize:

If you believe in bitcoin, use it.
If you want to play the lottery and get rich quick, take the risk of buying some and holding them.

klee

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This chart is useful to see the bubbles AND the exponential growth in action:

http://visualeconsite.s3.amazonaws.com/wp-content/uploads/2010/10/Real-Long_term-US-Stock-Growth.png

1 Buy
2 Hold
3 GOTO1

Picklee

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Quote from: Bitcoin BEAR on March 24, 2013, 12:44:04 PM

it's physical so you can't delete it,

MYTH #1: bitcoins can't be deleted either.

Quote from: Bitcoin BEAR on March 24, 2013, 12:44:04 PM

and it still works without internet.

MYTH #2: the bitcoin network doesn't need the internet to continue functioning.

Quote from: Bitcoin BEAR on March 24, 2013, 12:44:04 PM

Bitcoin is not ready to go mainstream. If you push it too fast, before it can handle the volume, the general public will dismiss it faster than they adopt it...The End!

I agree, demand for BTC is high and people who have been mining for the past year have hefty hoards of BTC waiting for the market or the "right price". Although I don't think the public will "dismiss" BTC outright, I do think that the public will be resistant to adoption if the supply of BTC is held up by a handful of big hoarders waiting for the $1,000 mark.

Topic: If the 75$/bitcoin price was a bubble (Read 4202 times)