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Bitcoin blow as fund drops U.S. exchange application

reuters.com

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Re: Bitcoin blow as fund drops U.S. exchange application

#21

Post by lloyd-christmas »

readhn wrote: post #15
chrisco255 wrote: post #7

Earlier quoted context omitted.

Yeah...$20 million market cap seems reasonable... smh...

There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.

> There is nothing new under the sun. Go back to the tulips and many booms and busts after.

Predicting bubbles is nothing new under the sun. I remember 10 years ago when craft beer was a bubble. I also remember 5 years ago when a buddy of mine in finance told me "tech is a bubble because there are too many languages". Everyone is an expert, and everyone can say "tulip" as if it's meaningful.

Re: Bitcoin blow as fund drops U.S. exchange application

#22

Post by gst »

drcode wrote: post #14
readhn wrote: post #6

RIP bitcoin. Current valuation is $4142.99 higher than it should be.. Im thinking we will get there within a couple of years. $1-2 seems about right per 1 BTC.

As someone involved in this stuff since 2011, the constant "death of Bitcoin" predictions are sooooo tedious.

Bitcoin only died 171 times so far: https://99bitcoins.com/obituary-stats/. The first time was in December 2010 when it was priced at $0.23.

Re: Bitcoin blow as fund drops U.S. exchange application

#23

Post by shlant »

readhn wrote: post #18
drcode wrote: post #14

Earlier quoted context omitted.

As someone involved in this stuff since 2011, the constant "death of Bitcoin" predictions are sooooo tedious.

getting the timing right is pretty much next to impossible. this does not change the fact that it will ultimately end that way.

> getting the timing right is pretty much next to impossible. this does not change the fact that it will ultimately end that way

The argument that anything ends at some point is fruitless. Not sure how you are separating BTC out from anything else here

Re: Bitcoin blow as fund drops U.S. exchange application

#24

Post by la_oveja »

readhn wrote: post #18
drcode wrote: post #14

Earlier quoted context omitted.

As someone involved in this stuff since 2011, the constant "death of Bitcoin" predictions are sooooo tedious.

getting the timing right is pretty much next to impossible. this does not change the fact that it will ultimately end that way.

Please, can you guess me the numbers of the EuroMillions lotto?

Re: Bitcoin blow as fund drops U.S. exchange application

#25

Post by Chriky »

ringaroundthetx wrote: post #8
xbzbanna wrote: post #4

Earlier quoted context omitted.

It would generally be appropriate to say things like "was the best return" or "has been the best return" when describing past price appreciation. "Is the best return" could be reserved for something like a stable source of income.

Many people earn income in bitcoin or cryptocurrency and would consider the US dollar the poor investment or purchase. It is all a matter of perspective which simple wasn't apparent because there weren't options a decade ago.

...for some definitions of "many"

Re: Bitcoin blow as fund drops U.S. exchange application

#26

Post by dragandj »

lloyd-christmas wrote: post #21
readhn wrote: post #15

Earlier quoted context omitted.

There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.

> There is nothing new under the sun. Go back to the tulips and many booms and busts after. Predicting bubbles is nothing new under the sun. I remember 10 years ago when craft beer was a bubble. I also remember 5 years ago when a buddy of mine in finance told me "tech is a bubble because there are too many languages". Everyone is an expert, and everyone can say "tulip" as if it's meaningful.

Craft beer is tasty, many people love it and regularly buy it to consume it; not to store it in the cellar with the hope that one bottle will cost $50000 in 3 years. That's real business that has real profits.

Re: Bitcoin blow as fund drops U.S. exchange application

#27

Post by h2so4 »

gst wrote: post #22
drcode wrote: post #14

Earlier quoted context omitted.

As someone involved in this stuff since 2011, the constant "death of Bitcoin" predictions are sooooo tedious.

Bitcoin only died 171 times so far: https://99bitcoins.com/obituary-stats/ . The first time was in December 2010 when it was priced at $0.23.

In theory, the governments may try to kill it once it reaches too far (to the point of being considered fiat money). However, the said government will also invite lots of backlash from the people and technically, no single government can stop the blockchain network completely.

Re: Bitcoin blow as fund drops U.S. exchange application

#28

Post by danielahn »

shlant wrote: post #20
readhn wrote: post #15

Earlier quoted context omitted.

There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.

the fact that you tout the "tulip mania" example shows that Bitcoin and markets are not the only things you know little about: http://www.smithsonianmag.com/history/there-never-was-real-t... > BTC is pure insanity that will soon end badly for most "speculators" > Its happening with BTC now Join the long line of people that have been saying this for almost 5 years and have been so soooooooooo wrong

Did you read the article you posted? Actual tulip mania, as described in the article, is much more similar to what is happening in bitcoin than the mythologized tulip mania.

Frantic speculation in a narrow space with the market eventually crashing when speculative buyers are no longer willing to bid up?

Re: Bitcoin blow as fund drops U.S. exchange application

#29

Post by richmarr »

shlant wrote: post #20
readhn wrote: post #15

Earlier quoted context omitted.

There is utility in BTC thats why im putting 1-2$ value on it. 4000$ + per one BTC is pure insanity that will soon end badly for most "speculators". There is nothing new under the sun. Go back to the tulips and many booms and busts after. Its happening with BTC now. And just like all the others it will end the same.

the fact that you tout the "tulip mania" example shows that Bitcoin and markets are not the only things you know little about: http://www.smithsonianmag.com/history/there-never-was-real-t... > BTC is pure insanity that will soon end badly for most "speculators" > Its happening with BTC now Join the long line of people that have been saying this for almost 5 years and have been so soooooooooo wrong

> Join the long line of people that have been saying this for almost 5 years and have been so soooooooooo wrong

You're overstating your case. They just haven't been proven right.

In such a young, poorly understood, and speculative, environment it seems reasonable to suspect a bubble. 5 years doesn't prove or disprove anything.

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