Is That The Thundering Herd I Seem to Hear?

Iranus

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Quote from: OROBTC on December 01, 2017, 03:33:39 PM

Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.

So there's a large number of people intending to buy BTC for investment purposes, and very little else. That's extremely speculative and it's pretty much exactly what happens in a bubble.

There is simply no capacity for mainstream adoption. There might be capacity for mainstream speculation about mainstream adoption, but nothing much further than that.

I actually hope that fewer people send BTC for buying and selling so I can actually use it for most purposes instead.

The Sceptical Chymist

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Quote from: OROBTC on December 01, 2017, 03:54:10 PM

Colloquial American English. Google's translation service still needs work...

It appears that Bitcoin is about to become VERY POPULAR. A friend asked me, unsolicited (that is, he asked me without me having to mention BTC to him), about Bitcoin.

I am curious to learn if others are hearing a "thundering herd" coming our way in the distance. It's a cowboy metaphor.

Yeah, and colloquial English will sail way over the heads of 90% of bitcointalk users. Nevertheless, I sort of agree with you--more people are jumping on the bandwagon and money is flowing in from a lot of different places. But isn't that exactly what happens in bubbles? People started buying silver back in 2011 when they became aware that it was headed toward $50/ounce, and look what happened to that market. Crashed. Same thing with comic books in the early 1990s with the whole Death of Superman debacle. People who had never before bought comic books started buying en masse and drove up prices to insane heights. Crashed. I'm afraid that this is what's going to happen with bitcoin. It'd be sooo nice if it didn't, but it scares me.

HeRetiK

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Quote from: AltcoinAuthority on December 01, 2017, 08:13:04 PM

Quote from: HeRetiK on December 01, 2017, 08:10:37 PM

Europe reporting in.

I've noticed the occasional talk about Bitcoin since the beginning of the current bullrun and also helped answering questions by people that never bothered with crypto before. Just a few weeks ago I even noticed random people talking about blockchain technology on the subway.

Especially the last few days seem to have turned a lot of heads, with people that were hesitant for the last few months starting to feel the itch as well. It looks like a lot of new people are jumping in on it, even those that otherwise barely follow current tech.

I've got mixed feelings about this to be honest. On one hand this means that Bitcoin is finally becoming mainstream. On the other hand I get reminded of this old quote that forebode the great depression:

Quote from: Joe Kennedy

You know it's time to sell when shoeshine boys give you stock tips.

Bitcoin isn't quite mainstream yet, it would require a whole bunch of people holding coins for the price to be in the mainstream level.

Hence becoming mainstream

The hard question is how our new friends will handle the up and downs of the market. People know that Bitcoin is highly volatile, but the downside of volatility is easily forgotten in a bull market. Do they trust Bitcoin's viability enough to hold through major corrections or will they jump ship at the slightest sign of trouble?

AltcoinAuthority

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Quote from: HeRetiK on December 01, 2017, 08:10:37 PM

Europe reporting in.

I've noticed the occasional talk about Bitcoin since the beginning of the current bullrun and also helped answering questions by people that never bothered with crypto before. Just a few weeks ago I even noticed random people talking about blockchain technology on the subway.

Especially the last few days seem to have turned a lot of heads, with people that were hesitant for the last few months starting to feel the itch as well. It looks like a lot of new people are jumping in on it, even those that otherwise barely follow current tech.

I've got mixed feelings about this to be honest. On one hand this means that Bitcoin is finally becoming mainstream. On the other hand I get reminded of this old quote that forebode the great depression:

Quote from: Joe Kennedy

You know it's time to sell when shoeshine boys give you stock tips.

Bitcoin isn't quite mainstream yet, it would require a whole bunch of people holding coins for the price to be in the mainstream level.

HeRetiK

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Europe reporting in.

I've noticed the occasional talk about Bitcoin since the beginning of the current bullrun and also helped answering questions by people that never bothered with crypto before. Just a few weeks ago I even noticed random people talking about blockchain technology on the subway.

Especially the last few days seem to have turned a lot of heads, with people that were hesitant for the last few months starting to feel the itch as well. It looks like a lot of new people are jumping in on it, even those that otherwise barely follow current tech.

I've got mixed feelings about this to be honest. On one hand this means that Bitcoin is finally becoming mainstream. On the other hand I get reminded of this old quote that forebode the great depression:

Quote from: Joe Kennedy

You know it's time to sell when shoeshine boys give you stock tips.

FlightyPouch

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Asia is the biggest continent in the world so I think you will be able to hear them because there will be a lot of them. Bitcoin seems to hit them with a lot of price pumps that is happening, some of the people know that it dumps but quickly pumps after some time. Now they are asking what it is and what is the good thing they can do about it.

If a lot of people stick their interest in these digital currencies, another price pump is expected.

eaLiTy

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The recent surge in price will attract many users and especially when the price crossed ten thousand dollars which was a dream total a few months back and a valuation which i thought would take five years to achieve,people are starting to get interested and most likely the rally we had will boost the next rally Grin

,with the futures market coming in bitcoin expect more people coming into bitcoin and the price will rise once again from these valuations.

kueyen

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Quote from: OROBTC on December 01, 2017, 03:33:39 PM

...

Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.

A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).

Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.

Opinions solicited from you all....

Just had a similar experience the day the price went above $11K. A bunch of guys at work (relatively old guys, at that) were talking about "this bitcoin thing" and how they could buy one. Although when the price dropped the talking stopped, I think they returned to regarding it as a scam or a way of gambling for now. But they got wind of it, and that's what counts. When the price bounces back (which it actually already has done, more or less), they will be back as well.

aso118

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Quote from: OROBTC on December 01, 2017, 03:33:39 PM

...

Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.

A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).

Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.

Opinions solicited from you all....

It is a herd, but the herd of retail investors can push up the price only so much. What I am more interested in is when the institutional money starts flowing in. If a hedge fund or a sovereign fund decides to put a little money into Bitcoin, the price can really shoot up. That will start the virtuous cycle of attracting more investors.

WinTokens

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Yes, now you have all your aunts and uncles asking what "this bitcoin" thing is all about. It's like being the only person in the family who can fix PC's. Very painful. Grin

Definitely a sign the herd is coming though.

squatz1

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I mean like, my first question here is going to be where in Asia this is going to be -- as well all know certain countries are more and less friendly when it comes to Bitcoin, China being an example when it comes to being against Bitcoin and for more Bitcoin regulation.

Bitcoin isn't the thundering herd though, if you are to look at Bitcoin it's not the fact that Bitcoin has more people, businesses, organizations, or USERS its the fact that Bitcoin has become more of a traded coin rather then a currency in itself.

squatter

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Quote from: OROBTC on December 01, 2017, 03:33:39 PM

Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.

A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).

Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.

Opinions solicited from you all....

I'd say it really is different this time. Bitcoin is going mainstream. It's almost scary how Reuters and CNBC are putting out positive pieces on Bitcoin almost everyday. Forbes today: Want To Own Bitcoin? Here's How To Buy, Invest In And Store It. Unreal!

It's funny -- I had friends ask me about it in late 2013, near the top. I'm glad I told them to wait, and later told them it was time to start buying in 2015. Phew! I haven't had anyone IRL ask me about Bitcoin recently. That said, my crypto Twitter account is getting loads of new followers, Coinbase seems to be endlessly adding new customers, CME futures just got approved, and the mainstream attention just won't quit. I'm guessing this rally still has some legs left on it.

OROBTC

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Quote from: uszaty43 on December 01, 2017, 03:46:12 PM

I am sorry, but can you post this on english instead of that weirdy language? I dont even know what are you trying to type since it is unreadable.

Quote from: OROBTC on December 01, 2017, 03:33:39 PM

A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).
Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.
Opinions solicited from you all....

What did your friend asked to you? I dont get it, did he ask you about "what bitcoin is" or "bitcoin is a bubble?" I dont understand since your whole thread is making my eyes bleed a lot.

Quote from: OROBTC on December 01, 2017, 03:33:39 PM

Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.

Colloquial American English. Google's translation service still needs work...

It appears that Bitcoin is about to become VERY POPULAR. A friend asked me, unsolicited (that is, he asked me without me having to mention BTC to him), about Bitcoin.

I am curious to learn if others are hearing a "thundering herd" coming our way in the distance. It's a cowboy metaphor.

uszaty43

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I am sorry, but can you post this on english instead of that weirdy language? I dont even know what are you trying to type since it is unreadable.

Quote from: OROBTC on December 01, 2017, 03:33:39 PM

A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).
Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.
Opinions solicited from you all....

What did your friend asked to you? I dont get it, did he ask you about "what bitcoin is" or "bitcoin is a bubble?" I dont understand since your whole thread is making my eyes bleed a lot.

Quote from: OROBTC on December 01, 2017, 03:33:39 PM

Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.

swogerino

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Asia is a really big continent since it includes China which is the country with one of the highest population if not the highest, only India coming close to them. That is good for bitcoin and in the long run we are all hearing distant thunders which we all will like when they come near us as it will burn us with some really good amount of money at that moment.

OROBTC

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...

Bitcoin at $10,000 seems to have gotten some attention. Especially in Asia.

A friend just asked me about it today (the first unsolicited inquiry I have ever gotten re BTC).

Rather than a Bubble, I think I hear -- softly, softly -- a thundering herd coming in the distance.

Opinions solicited from you all....

Topic: Is That The Thundering Herd I Seem to Hear? (Read 404 times)