Will the bubble burst? - page 3. | Bitcointalksearch.org

saigo

full member

Activity: 126

Merit: 100

From what i'm reading here and there, the ASIC's coming along will make it harder to mine BTC, which will push folks into mining LTC.. if any substance to this at all, then I suspect that the next bubble might be in LTC ?

( now, thats 5 posts and more than 4 hours, let me out of newbie hell, please ? Roll Eyes

)

nioc

legendary

Activity: 1624

Merit: 1008

Where do you get your percentages from?

BTCLuke

hero member

Activity: 526

Merit: 508

My other Avatar is also Scrooge McDuck

+1 for _Not_a_Bubble_.

Bitcoin is too much to too many people. It is climbing now because it is getting picked up in the following allocations:

49% Speculators/Hoarders/Liberty Lovers (People buying to hold)
1% Arbitragers
20% Monetary refugees (Think Cyprus, but the whole Eurozone and argentina right now. These are long but not very long holding)
10% Users who just want to see Bitcoin flourish (so will buy and spend repeatedly)
20% System D... Which is the 2nd largest Economy on earth, next to the USA. (Of course they will have a slow adoption rate.)

So since 49% speculation isn't enough to crash the market, and especially since we do indeed have arbitragers helping keep the chart less volatile, I'm convinced that we are never going to see a full correction to the huge gains we've made in the last month or two.

Perhaps we could lose 25% or something though on some bad news... But no way, no how, are we going back to under $40 until the US Gov makes Bitcoin illegal.

botsofbitcoin

member

Activity: 62

Merit: 10

Quote from: Bennmann on March 22, 2013, 08:41:15 PM

The dollar bubble will really burst when bitcoin hits Apple parity ($424 bil market cap or about $20,000 per bitcoin).

Finland could help by officially adopting bitcoin...

Or Iceland. Cheap electricity there and they could do with a bit of a cash injection, I'm sure.

Bennmann

newbie

Activity: 23

Merit: 0

The dollar bubble will really burst when bitcoin hits Apple parity ($424 bil market cap or about $20,000 per bitcoin).

Finland could help by officially adopting bitcoin...

sx1234

member

Activity: 98

Merit: 10

Quote from: wingding on March 20, 2013, 12:50:00 PM

Quote from: MadAlpha on March 20, 2013, 12:34:16 PM

As for will the bubble burst, I would say almost certainly yes, as most speculative investment bubbles do. The problem is knowing when that correction will come, and how big will it be. For example it could come say at $200, and you'd still make a lot of money buying in now. That's the fun part of investing, or I should say speculation.

Good points! As a matter of fact, loosing investment opportunity due to slow wire transfers is itself a good illustration of the need for a currency like bitcoin. How is it possible for banks to use 3-4 days on a transfer. Do the travel personally bringing the money over to Japan?? (no, that would have been faster)

Funny you say that, when I sent the wire it was around 50, when I could trade it was 71.. stinks..

iorrus

newbie

Activity: 13

Merit: 0

Yes it is a bubble that will crash but it is difficult to predict the long term price, so in five years who knows?

gooryheta

member

Activity: 167

Merit: 10

Quote from: h4r13q1n on March 22, 2013, 05:14:04 AM

It seems that bitcoins are trusted in. they're here to stay and people understand that. so yeah, in the long term prices will go up.

So there is not reason to spend BTC by this logic, thats why I call it bubble. Many believe they will get rich this way, but in real world this happens very rarely.

There are at least two problems with Bitcoin:
- max 10 transaction / second = cannot compete with current payment methods
- easy to do laundering / support terrorist = probably will be banned in future by goverments

pennyfx

newbie

Activity: 8

Merit: 0

Yes it's a bubble the will keep growing. It's by design. I think that FRC has a more flexible algorithm that encourages spending versus hoarding. Also lost bitcoins can't ever be reclaimed. The coins outstanding are going to keep decreasing, thus causing more scarcity and a higher price.

deathcode

copper member

Activity: 1428

Merit: 253

Quote from: dendory on March 22, 2013, 02:37:58 PM

Just like Twitter took off when 'normal' people started using it and advertising their Twitter handles, Bitcoin will really take off when you can buy from 'normal' stores like Amazon, Target, Walmart, etc..

+1

dendory

newbie

Activity: 14

Merit: 0

Just like Twitter took off when 'normal' people started using it and advertising their Twitter handles, Bitcoin will really take off when you can buy from 'normal' stores like Amazon, Target, Walmart, etc..

prespendwindfall

newbie

Activity: 24

Merit: 0

The price has just been increasing the last few weeks. Wish I had joined earlier. The more people who flock to bitcoin and use it consistently will only make it that much more solid. Sure it might be a bubble, get hacked terribly or have something else monkey wrench it. But for me I decided I just wanted to be a part of this cool development. I will have the street credit to be able to say I was an early adopter. If this thing really really succeeds, then the fact I saw it, got involved, will be worth far more to me than any of the miniscule money I can invest right now. What I do invest will be for the long haul. This really sounds like it could become the next big thing. Too bad I am 2 years or so late.

oah

newbie

Activity: 5

Merit: 0

The other day I read an article that compared bitcoin with gold. I think it will take a while for the price of bitcoin to get stable, and I guess it will be a bumpy ride. But i don't think the bubble will burst completely.

Whik

newbie

Activity: 13

Merit: 0

My opinion; once BTC plateaus for more than a week or so it will end up dropping when investors think the value has stalled and they will get anxious to cash in before the drop happens.

sclek

newbie

Activity: 5

Merit: 0

I have a feeling that if it does burst it will not drop below $20... If it does burst you will see me buying coins like crazy!

pangu

hero member

Activity: 2912

Merit: 604

CoinMetro

Quote from: h4r13q1n on March 22, 2013, 05:14:04 AM

Still, I actually don't see how the price could drop back to a new rock bottom. as soon as it'd be down to $30-$40 we all would buy like crazy, right?

interesting point!

h4r13q1n

newbie

Activity: 55

Merit: 0

Well, basically we hope for it to be a bubble, right? because buying BTC at $70 feels so wrong.
Friends of mine joked about another earthquake in japan might have an influence on the price because mt.gox is located there. That is an interesting question, I think.
Still, I actually don't see how the price could drop back to a new rock bottom. as soon as it'd be down to $30-$40 we all would buy like crazy, right?
tbh I was astonished to see what little effect the recent chainfork - the worst case scenario of bitcoin - had on the price.
It seems that bitcoins are trusted in. they're here to stay and people understand that. so yeah, in the long term prices will go up. But I hope for a price drop without people in good old japan being harmed Wink

tl;dr: we hope its a bubble, but its probably not.

nubaincidem

newbie

Activity: 6

Merit: 0

Regardless of a possible burst bubble (which I highly doubt!), I've made quite a bit of money in the run-up. What is very possible though, is a is what we see often in bull markets, and that would be a correction. Market corrections can be between 5-20%. What I'm seeing too, is the USD strengthening against major currencies because of the steam the economy is picking up. This can negatively impact BTC-USD trading. But like I said, at the moment I'd value the BTC at >$60USD at the very least. Interest in the market is picking up, block rewards are 25btc instead of 50, and economic conditions are favorable for investment -- increasing demand! I've got $80 limit sells, and $57.50 stop loss. i invested originally at $14.00-14.50. I'm good. ahha

rm187

member

Activity: 65

Merit: 10

Quote from: jordan.dev on March 21, 2013, 01:04:01 AM

At this point it just seems like panic buying

Some of it is. You cought me!

I'v been following bitcoin for years. Not like I have the past few months. But Is something I always checked up on. There are many ppl like me who seen the recent changed and realize even if this is a bubble, long term its going up.

If you compere the network hashrate and the BTC/USD, the charts are relatively the same.

Long as people don't abandon bitcoin for trade, we are looking at a new era of monetary systems. Much how the internet changed technology. or fighter jets revolutionized air-warfare.

For 21-28yr olds with 12+ hours a day on a computer, if you arnt getting what u can into bitcoins. I don't know wtf is wrong with your logic. We are due for a correction, Avalon has created a bubble but I think its not going to be noticed or fall d/t the world financial stage and other factors.

DarkRayn3

newbie

Activity: 16

Merit: 0

I guess it will keep fluctuating until it is a widely accepted currency, hopefully it wont take too many more years to be accepted but who knows. I would like a bitcoin bank card to be able to withdraw cash instantly, anyone know if this is being developed? Cheers.

Topic: Will the bubble burst? - page 3. (Read 4925 times)