There is No Bubble | Bitcointalksearch.org

relative

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Quote from: hugolp on June 26, 2011, 01:10:32 AM

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

There is no difference at all betwen an speculator and a user. Its just that some people like to judge the motivations of other people in the market. What they deem its good are labeled as users and what they deem is bad are labeled as speculators. And because everybody judges in a different way, you have all type of cracy clasifications. Its a useless distinction. Everybody is a user, just with different motivations.

so I'm one of these evil people who label the motivatio of others, because all bitcoin usage that I know of I label speculation.

Electrongolf

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What's Your Gig?

Quote from: hugolp on June 26, 2011, 01:10:32 AM

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

There is no difference at all betwen an speculator and a user. Its just that some people like to judge the motivations of other people in the market. What they deem its good are labeled as users and what they deem is bad are labeled as speculators. And because everybody judges in a different way, you have all type of cracy clasifications. Its a useless distinction. Everybody is a user, just with different motivations.

All BTC investment for short term gain is "speculation" at this point. I don't look at this as a bad thing. It is what it is.

Digital currencies have always been used to support an ecosystem. Without this ecosystem the value is zero. The BTC ecosystem (game) right now is an online "Stock Market Game".

Until someone creates another use for BTC outside of the "Stock Market", it will be relegated to gambling chip.

hugolp

legendary

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Radix-The Decentralized Finance Protocol

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

There is no difference at all betwen an speculator and a user. Its just that some people like to judge the motivations of other people in the market. What they deem its good are labeled as users and what they deem is bad are labeled as speculators. And because everybody judges in a different way, you have all type of cracy clasifications. Its a useless distinction. Everybody is a user, just with different motivations.

qualia8

full member

Activity: 237

Merit: 100

Quote from: HappyFunnyFoo on June 25, 2011, 07:41:53 PM

Quote from: FooDSt4mP on June 25, 2011, 07:15:55 PM

Quote from: ?? on ??

I think the bitcoin community, on average, is crazier and more speculative, and generally more economically irrational, than the Ron Paul BuyGoldEvenAtStupidHighPricesof$1500 community

If that's true, you should be able to do pretty well trading against such people.

Buying a mutual fund and going to sleep for 10 years will beat even the best btc trader

that maybe be false. for the decade leading to the most recent crash, mutual funds lost money, on average.

peach

newbie

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Not much can be predicted solely based on technical aspects of graphs, so I wasn't clear.
And there hasn't been worry among any circles about a bubble among BRK.A shares.

peach

newbie

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Not quite sure what you're getting at, Chod.

Implying that A-shares of BRK experienced a bubble?

Crystal Excursion

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I'm Crazy about Bitcoin, trading Quartz for BTC

Quote from: FooDSt4mP on June 25, 2011, 06:37:00 PM

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

I'm only relatively new (February, 2011), but I use bitcoins to buy things. That's kinda what they were made for. I have some savings, but I spend quite a few. When I do, I buy new ones with the fiat I would have spent.

To me this is the Core of the adoption process. People Buy some BTC,, save some, spend some, and Buy some more... I think You're Doing It Right !
+1

May the Bitcoins Flow4U !

FooDSt4mP

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Activity: 182

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Quote from: peach on June 25, 2011, 07:50:02 PM

Quote from: HappyFunnyFoo on June 25, 2011, 07:41:53 PM

Quote from: FooDSt4mP on June 25, 2011, 07:15:55 PM

Quote from: ?? on ??

I think the bitcoin community, on average, is crazier and more speculative, and generally more economically irrational, than the Ron Paul BuyGoldEvenAtStupidHighPricesof$1500 community

If that's true, you should be able to do pretty well trading against such people.

Buying a mutual fund and going to sleep for 10 years will beat even the best btc trader

Not at all.

An optimistic outlook for a mutual fund is 7-9% gain annually. That's practically nothing compared to the returns people have made on BTC.

We won't have any idea who is right until bitcoin has existed for 10 years. Or if your mutual fund will even beat inflation.

relative

newbie

Activity: 56

Merit: 0

Quote from: killer2021 on June 25, 2011, 08:02:00 PM

yea everyone sell your bitcoins so I can buy cheap Wink

well, I doubt you guys are gonna sell it off to about 0,20$ or more anytime soon, so naaa. I'm not buying.

killer2021

member

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yea everyone sell your bitcoins so I can buy cheap Wink

relative

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http://static.images.memegenerator.net/Instances400/8/8233/8431507.jpg

http://static.images.memegenerator.net/Instances400/8/8234/8431730.jpg

peach

newbie

Activity: 56

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Quote from: HappyFunnyFoo on June 25, 2011, 07:41:53 PM

Quote from: FooDSt4mP on June 25, 2011, 07:15:55 PM

Quote from: ?? on ??

I think the bitcoin community, on average, is crazier and more speculative, and generally more economically irrational, than the Ron Paul BuyGoldEvenAtStupidHighPricesof$1500 community

If that's true, you should be able to do pretty well trading against such people.

Buying a mutual fund and going to sleep for 10 years will beat even the best btc trader

Not at all.

An optimistic outlook for a mutual fund is 7-9% gain annually. That's practically nothing compared to the returns people have made on BTC.

HappyFunnyFoo

full member

Activity: 125

Merit: 100

Quote from: FooDSt4mP on June 25, 2011, 07:15:55 PM

Quote from: ?? on ??

I think the bitcoin community, on average, is crazier and more speculative, and generally more economically irrational, than the Ron Paul BuyGoldEvenAtStupidHighPricesof$1500 community

If that's true, you should be able to do pretty well trading against such people.

Buying a mutual fund and going to sleep for 10 years will beat even the best btc trader

peach

newbie

Activity: 56

Merit: 0

Quote from: relative on June 25, 2011, 07:33:08 PM

Quote from: peach on June 25, 2011, 06:35:55 PM

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

As we know, BTCs value isn't judged by its usefulness and application but by attention and revolutionary nature. The more people are interested in it, the higher the price, the more it will be used/spent. Period.

unfortunately, your "Period" prevents me from adding how stupid this argument is.
reminds me of the time when business were judged by their number of page impressions instead of a business plan or revenue.

So I take it you would find any gold-owners stupid if gold wasn't used in jewelry/decorative purposes?

relative

newbie

Activity: 56

Merit: 0

Quote from: peach on June 25, 2011, 06:35:55 PM

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

As we know, BTCs value isn't judged by its usefulness and application but by attention and revolutionary nature. The more people are interested in it, the higher the price, the more it will be used/spent. Period.

unfortunately, your "Period" prevents me from adding how stupid this argument is.
reminds me of the time when business were judged by their number of page impressions instead of a business plan or revenue.

FooDSt4mP

full member

Activity: 182

Merit: 100

Quote from: anybodyelseNOW on June 25, 2011, 07:25:54 PM

if bitcoins were stabilized the black market could use it. But right now is just the internet version on monopoly.

If the black market used it, it would stabilize. Welcome to the chicken and the egg. However, if I ran a cartel I would pick up a few thousand and then push it really hard. The crooks who can grok it will make out handsomely if they can explain it to their buddies.

anybodyelseNOW

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if bitcoins were stabilized the black market could use it. But right now is just the internet version on monopoly.

FooDSt4mP

full member

Activity: 182

Merit: 100

Quote from: ?? on ??

I think the bitcoin community, on average, is crazier and more speculative, and generally more economically irrational, than the Ron Paul BuyGoldEvenAtStupidHighPricesof$1500 community

If that's true, you should be able to do pretty well trading against such people.

wareen

legendary

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Revolutionizing Brokerage of Personal Data

Quote from: peach on June 25, 2011, 06:41:00 PM

And to steal a quote from Bittalk.tv, who referenced The Pirate Bay's founder saying: "If 10% of the black market was dealt with using BTC, their value would increase by a factor of 600."

If you're referring to this, then it's not the founder of The Pirate Bay but the founder of the Swedish Pirate Party: Rickard Falkvinge.

peach

newbie

Activity: 56

Merit: 0

Quote from: FooDSt4mP on June 25, 2011, 06:37:00 PM

Quote from: relative on June 25, 2011, 06:31:01 PM

Quote

that the recent jump in price is not due (primarily) to an increase in hoarding, speculation, or hype, but rather to a simple jump in users.

I fail to see the difference between a bitcoin user and a bitcoin speculator.
what are all these new users using bitcoin for?

I'm only relatively new (February, 2011), but I use bitcoins to buy things. That's kinda what they were made for. I have some savings, but I spend quite a few. When I do, I buy new ones with the fiat I would have spent.

Exactly. And to steal a quote from Bittalk.tv, who referenced The Pirate Bay's founder saying: "If 10% of the black market was dealt with using BTC, their value would increase by a factor of 600."

This is not to say the black market will be the largest medium wherein BTC are spent. It is simply an example to put things into context.

Topic: There is No Bubble (Read 2908 times)