Bitcoin Bubble Makes Dot-Com Look Rational

Holding them doesn't mean you get the transaction fees, and increasing transaction fees would lower the 'P/E' but make bitcoins obviously worse to have or use.

Re: Bitcoin Bubble Makes Dot-Com Look Rational

#6

Post by tobyhinloopen » Tue, Nov 28, 2017, 11:33 AM UTC

The idea is great, but in reality these stupid crypto coins are practically useless and wasting HUGE amounts of resources.

Bitcoin is said to be consuming as much power a some countries, and still rising fast, while the amount of transactions is comically low compared to the power consumption.

Bitcoin in its current state can never be a thing to actually buy something with. I don't see any other long-term use for bitcoin than just making a couple of bucks before it eventually crashes down like the Hindenburg.

I'm not saying that all cryptocoins will suffer that fate, but I truly believe bitcoin specifically will.

Re: Bitcoin Bubble Makes Dot-Com Look Rational

#7

Post by linards » Tue, Nov 28, 2017, 11:33 AM UTC

its going to crash big time, opportunity to buy more

Re: Bitcoin Bubble Makes Dot-Com Look Rational

#8

Post by linards » Tue, Nov 28, 2017, 11:34 AM UTC

tobyhinloopen wrote: post #6

The idea is great, but in reality these stupid crypto coins are practically useless and wasting HUGE amounts of resources. Bitcoin is said to be consuming as much power a some countries, and still rising fast, while the amount of transactions is comically low compared to the power consumption. Bitcoin in its current state can never be a thing to actually buy something with. I don't see any other long-term use for bit…

how do you know?

Re: Bitcoin Bubble Makes Dot-Com Look Rational

#9

Post by f_allwein » Tue, Nov 28, 2017, 11:35 AM UTC

Old saying: "What's common in every bubble is the belief that this time, it will be different." -> if you invest in cryptocurrencies, make sure not to invest more than you can comfortably lose (probably a few percent of your overall funds).

Re: Bitcoin Bubble Makes Dot-Com Look Rational

#10

Post by jmkni » Tue, Nov 28, 2017, 11:35 AM UTC

rejschaap wrote: post #3

Bitcoin could hit $10.000 any moment now. Who is buying and why?

Personally I wonder if the rise in Bitcoin could be linked to Russian sanctions like the Magninsky act?

Could now blacklisted Oligarchs who were previously using western financial institutions to launder their money now be using Bitcoin instead?