Bitcoin (BTC) is up by +22% in a single day, valued at over $14,600

Post by AjithAntony » Thu, Dec 07, 2017, 7:32 AM UTC

colordrops wrote: post #68

bllguo wrote: post #15

This is a farce. There's only been negative news today and yet prices jump higher than ever. There's no conceivable way this doesn't end badly. I guess people are gambling on being lucky enough to exit before then. Edit: removed unnecessary hostility. If you have money to spare on a high risk gamble like this then by all means. But in general there's just no way everyone jumping in is fully aware of the risks.

It's the first in a new asset class that provides things that never existed before, mainly being the ability to quickly transact value over great geographic distances and national borders with zero interference from third parties. The value of that is extremely underestimated by most people, and shouldn't be so hard to grasp. Analogous examples are the Internet and Google, which provided very straightforward and simp…

Post by koonsolo » Thu, Dec 07, 2017, 9:29 AM UTC

thisisit wrote: post #36

panarky wrote: post #27

It's obvious to nearly everyone that this is the world's biggest pump-and-dump scam. Sentiment on HN, Twitter and the financial press is nearly unanimously negative. Co-workers and family members are convinced this will end in tears for the foolish speculators. But one thing bugs me about all this. Historically, bubbles burst after long-time critics finally capitulate. Pyramids and Ponzis collapse when most people ha…

People are also seeing their co-workers and families asking about how to "invest" in Bitcoins. So the old story about Joe Kennedy and the shoe shine boy applies too? The saying " You know it's time to sell when shoeshine boys give you stock tips. This bull market is over."

Post by IshKebab » Thu, Dec 07, 2017, 9:58 AM UTC

koonsolo wrote: post #82

AjithAntony wrote: post #81

Earlier quoted context omitted.

> quickly transact value Well now it takes hundreds of minutes, in which time the value of your bitcoin has changed, given its current volatility.

I remember a time when my modem had to dial up to internet, and everything was slow. And I remember that whatever you searched on google, there was at least 1 porn result in the top 10. I also remember when electric cars were not nearly as good as gasoline cars. Technology advances. If you're stuck looking at what is inferior now, you will not see what is possible in the next few years. You are talking about a techni…

Post by scotty79 » Thu, Dec 07, 2017, 3:44 PM UTC

malloryerik wrote: post #60

jurajmasar wrote: post #4

Seems like a significant portion of the capital is coming from Asia, mainly South Korea, with just Bithumb BTC/KRW trades making almost 11% of today's volume. https://coinmarketcap.com/currencies/bitcoin/#markets

I'm in Seoul as we speak, and it's an insane mania here. It has absolutely nothing to do with North Korea. If Koreans want to keep money safe, they can, for example, buy US stocks and bonds. They can buy US Treasuries. Bitcoin they buy out of greed and fear of missing out. Korea is the land of the trend, of bangdwagonning. I feel bad for all of the people who are going to be burned. I saw an ad on YouTube, in Korean:…

Post by colordrops » Thu, Dec 07, 2017, 6:52 PM UTC

IshKebab wrote: post #85

koonsolo wrote: post #82

Earlier quoted context omitted.

I remember a time when my modem had to dial up to internet, and everything was slow. And I remember that whatever you searched on google, there was at least 1 porn result in the top 10. I also remember when electric cars were not nearly as good as gasoline cars. Technology advances. If you're stuck looking at what is inferior now, you will not see what is possible in the next few years. You are talking about a techni…

Not all technical problems can be fixed.