Topic: Is the bubble exploding right in front of us?! - page 2. (Read 5418 times)

Quote from: besco on June 11, 2011, 04:56:33 PM

I really believed in the bitcoins concept, but now it looks like a sad bubble that is about to explode in any moment. I almost put money when it was 30, but luckily I couldn't manage going to the back to do the wire. Sometimes when you feel unlucky you find out later that you were lucky.

At present, Bitcoin is useful as a transactional currency, but it is too volatile to be used as a long term store of wealth or as an investment.

So one should not "put money into Bitcoin," unless it is for fun, and it is speculative capital you don't mind losing.

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

What is gold backed by?

Thousands of Years of Human History for $500, Alex.

"This precious metal has been used as a store of value for thousands of years of human history."

What is gold?

...

soades

newbie

Activity: 57

Merit: 0

looks like more of a correction

finnthecelt

full member

Activity: 140

Merit: 101

I personally hope it. Bitcoins should be used for commerce and not for speculation.

That's just plain silly. Any medium of exchange will be speculated upon. Simple economics. Otherwise it wouldn't be a medium of exchange!!!

btcLeger

member

Activity: 98

Merit: 10

come on, we had a massiv exaggeration the last days, look at the charts. If the price comes back down to 5$ its not the end of Bitcoin, its a step into more stability. Hopefully.

imperi

full member

Activity: 196

Merit: 101

Quote from: confused on June 11, 2011, 05:07:41 PM

Quote from: imperi on June 11, 2011, 05:06:26 PM

Quote from: imperi on June 11, 2011, 05:06:26 PM

I really believed in the bitcoins concept, but now it looks like a sad bubble that is about to explode in any moment. I almost put money when it was 30, but luckily I couldn't manage going to the back to do the wire. Sometimes when you feel unlucky you find out later that you were lucky.

At present, Bitcoin is useful as a transactional currency, but it is too volatile to be used as a long term store of wealth or as an investment.

So one should not "put money into Bitcoin," unless it is for fun, and it is speculative capital you don't mind losing.

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

What is gold backed by?

By itself. Gold is a commodity that has demand regardless of any currency.

LOL. ok, you win the debate, I will go back to watching Camelot.

confused

newbie

Activity: 9

Merit: 0

Quote from: flug on June 11, 2011, 05:06:51 PM

I really believed in the bitcoins concept, but now it looks like a sad bubble that is about to explode in any moment. I almost put money when it was 30, but luckily I couldn't manage going to the back to do the wire. Sometimes when you feel unlucky you find out later that you were lucky.

At present, Bitcoin is useful as a transactional currency, but it is too volatile to be used as a long term store of wealth or as an investment.

So one should not "put money into Bitcoin," unless it is for fun, and it is speculative capital you don't mind losing.

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

What is gold backed by?

By itself. Gold is a commodity that has demand regardless of any currency.

imperi

full member

Activity: 196

Merit: 101

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

So when gold collapses, what does it fall back to? Its commodity value?

I think his implication is that gold is backed by other currencies, which happen to be backed by gold.

flug

sr. member

Activity: 280

Merit: 250

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

So when gold collapses, what does it fall back to? Its commodity value?

imperi

full member

Activity: 196

Merit: 101

I really believed in the bitcoins concept, but now it looks like a sad bubble that is about to explode in any moment. I almost put money when it was 30, but luckily I couldn't manage going to the back to do the wire. Sometimes when you feel unlucky you find out later that you were lucky.

At present, Bitcoin is useful as a transactional currency, but it is too volatile to be used as a long term store of wealth or as an investment.

So one should not "put money into Bitcoin," unless it is for fun, and it is speculative capital you don't mind losing.

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

What is gold backed by?

confused

newbie

Activity: 9

Merit: 0

Quote from: tonto on June 11, 2011, 05:00:53 PM

I really believed in the bitcoins concept, but now it looks like a sad bubble that is about to explode in any moment. I almost put money when it was 30, but luckily I couldn't manage going to the back to do the wire. Sometimes when you feel unlucky you find out later that you were lucky.

At present, Bitcoin is useful as a transactional currency, but it is too volatile to be used as a long term store of wealth or as an investment.

So one should not "put money into Bitcoin," unless it is for fun, and it is speculative capital you don't mind losing.

Bitcoin is not backed up by anything, so when one card falls all the building collapses.

Oldminer

legendary

Activity: 1022

Merit: 1001

No the bubble already exploded...what your seeing now is collateral damage..

imperi

full member

Activity: 196

Merit: 101

Quote from: imperi on June 11, 2011, 04:52:16 PM

It's going back all the way down to 0. Everyone will stop trading, turn off the thousands of graphics cards, uninstall the client, etc. Exactly the same thing happened with egold.

Good, then I can mine bunch all by myself

You and me both. We can have a 2 person economy. Grin

tonto

hero member

Activity: 609

Merit: 500

Quote from: imperi on June 11, 2011, 04:52:16 PM

It's going back all the way down to 0. Everyone will stop trading, turn off the thousands of graphics cards, uninstall the client, etc. Exactly the same thing happened with egold.

Good, then I can mine bunch all by myself

Enochian

full member

Activity: 327

Merit: 124