Why this is not a bubble | Bitcointalksearch.org

Seth Otterstad

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Quote from: notme on February 10, 2013, 01:47:50 PM

Quote from: Scott J on February 10, 2013, 01:38:15 PM

Quote from: paulie_w on February 10, 2013, 01:37:26 PM

Quote from: Seth Otterstad on February 10, 2013, 01:06:45 PM

The protocol will be upgraded this year to support usernames/email instead of 31 random characters.

huh?

I would like a source/more information on this please

He's referring the the payment protoco[1]l Gavin is working on. It's not going to change bitcoin, just add some convenience on top.

1. https://gist.github.com/gavinandresen/2217885

"The new payment protocol adds a human-readable, cryptographically-verified identity (so you are asked to approve an 11 BTC payment to “bitcoinfoundation.org” instead of “1BTCorgHwCg6u2YSAWKgS17qUad6kHmtQW“). It also optionally lets the recipient give the sender a message confirming that their payment was received."

https://bitcoinfoundation.org/blog/?p=85

LanYu

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This is why we aren't in a bubble:
http://blockchain.info/charts/miners-revenue?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

This is also why the price won't even peek over 27.

johnyj

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Beyond Imagination

There is an old wisdom saying that when you hear every body on the street like cook in restaurant or cleaning lady are talking about how much BTC she has purchased, then this is the end of the bubble, obviously we are far from it

And I even doubt if this wisdom works with BTC, since the fundamental of limited supply will never change regardless of how many people have knowledge about it

mrvision

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Quote from: knight22 on February 10, 2013, 05:40:03 PM

Interesting curves... but I dont think the bust will be that big. I would guess more something around 25 and 35$

Well that's another theory i have, in that case i bet for a triangle
http://www.investopedia.com/university/charts/charts5.asp#axzz2KXZFotAz

knight22

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--------------->¿?

Quote from: mrvision on February 10, 2013, 03:29:00 PM

THIS IS MY BET Cheesy

Interesting curves... but I dont think the bust will be that big. I would guess more something around 25 and 35$

Spaceman_Spiff

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Quote from: XxionxX on February 10, 2013, 05:24:11 PM

My only reservation would be if the usd really does collapse, then all bets are off and I have no f'n idea what will happen.

I don't believe that will happen soon.

XxionxX

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Digital money you say?

Quote from: Spaceman_Spiff on February 10, 2013, 03:33:44 PM

Quote from: mrvision on February 10, 2013, 03:29:00 PM

THIS IS MY BET Cheesy

This is almost identical to what I have in mind.

I also feel that this may be an accurate depiction of the future. So when do we call 'bottom' and buy some cheap coin? Grin

My only reservation would be if the usd really does collapse, then all bets are off and I have no f'n idea what will happen.

CurbsideProphet

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Quote from: yochdog on February 10, 2013, 02:21:16 PM

Oh, not at all! I would be very pleased. But my skepticism is not driven by my selfish desires. I just see some classic herd mentality going on.

There's certainly some herd mentality on Bitcointalk, however, that may be a micro-analysis. For the vast majority of the "herd" (ie. majority of the world population) Bitcoin is either unknown, a fraud/ponzi, nerd currency, etc.

From a macro perspective, you could easily argue that those who are long Bitcoin are actually the contrarians.

Herodes

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Quote from: yochdog on February 10, 2013, 01:59:58 PM

I simply observe this type of behavior all the time due to my day job in the financial markets. (IE, APPLE at $700 that could do no wrong and could never go down and could only go to $1,000 or higher. Oops)

Isn't that why going against the herd, or outside the box is what brings profit ? Doing the same as everyone else is barely going to make you rich.

meowmeowbrowncow

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Quote from: yochdog on February 10, 2013, 02:21:16 PM

Oh, not at all! I would be very pleased. But my skepticism is not driven by my selfish desires. I just see some classic herd mentality going on.

Mooooooo.

Agreed.

Spaceman_Spiff

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Quote from: mrvision on February 10, 2013, 03:29:00 PM

THIS IS MY BET Cheesy

This is almost identical to what I have in mind.

mrvision

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THIS IS MY BET Cheesy

evoorhees

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Democracy is the original 51% attack

I think one thing is apparent - if it IS a bubble, then it is less bubbly than the ~$30 bubble in 2011. The economy is far more advanced now.

I think the proper price of Bitcoin right now, all things considered, is $10-$50 per.

Kettenmonster

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bool eval(bool b){return b ? b==true : b==false;}

Yes, it is a bubble! So make sure it's not you to loose all the value when it's going down again!
Send your coins to: 1CsLD4Do1o1fdUdGwWxrxgp73G6UfwGruB
I will altruistically take all the loss on my account. Grin

Bit_Happy

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A Great Time to Start Something!

The market will go UP and also down.

Vandroiy

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There's absolutely no denying the herd mentality. Whether now or later, at high price or low, Bitcoin markets are heavily asking for a bust. People buy because it "is rising" and use qualitative analysis where quantitative analysis belongs.

Don't know whether I should call myself bearish quite yet, but this time danger level is not as low as it was on the 5-to-10 rise.

In 2011 the hype of everybody starting new businesses was there as well. In the end, the ones that survived and mattered were hardly the ones named back in the day. I agree there's potential in gambling, yet it's hard to tell when and how it might play out, and how much of the stored value turns out in BTC and thus affecting exchange value.

Points like "Explosion in p2p exchanges for cash or bank transfers on sites like localbitcoins" are bubble indicators. Likewise, as yochdog hinted, the title of this thread is a bubble indicator. Tread carefully.

yochdog

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Oh, not at all! I would be very pleased. But my skepticism is not driven by my selfish desires. I just see some classic herd mentality going on.

yochdog

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I earn well in excess of the payment....
Plus I have a price collar. Not really short in the traditional sense. My only losses are opportunity cost.

yochdog

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Quote from: ?? on ??

Quote from: yochdog on February 10, 2013, 01:59:58 PM

Quote from: ?? on ??

Quote from: yochdog on February 10, 2013, 01:54:46 PM

The fact that everyone is post-rationalizing "why it's not a bubble" is precisely why it is indeed, a bubble.

Not saying it cannot continue, but too many peeps are all in on this one.

I know that if anyone on these forums desperately wants it to to be a bubble, it's you!

Nah, I am kind of agnostic really. I earn enough from the crazy speculation that I am content.

I simply observe this type of behavior all the time due to my day job in the financial markets.

I recall you using the term "BRUTAL" a few short months ago, when the exchange rate was much lower.

Opportunity cost is a bitch, but netting several thousand a month does not suck either.

...but hey, by all means buy as much as you can here......nothing can go wrong!

yochdog

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Quote from: ?? on ??

Quote from: yochdog on February 10, 2013, 01:54:46 PM

The fact that everyone is post-rationalizing "why it's not a bubble" is precisely why it is indeed, a bubble.

Not saying it cannot continue, but too many peeps are all in on this one.

I know that if anyone on these forums desperately wants it to to be a bubble, it's you!

Nah, I am kind of agnostic really. I earn enough from the crazy speculation that I am content.

I simply observe this type of behavior all the time due to my day job in the financial markets. (IE, APPLE at $700 that could do no wrong and could never go down and could only go to $1,000 or higher. Oops)

Topic: Why this is not a bubble (Read 2123 times)