Bitcoin Bubble


#1

OK, we finally have another bubble: bitcoins.

http://www.cnbc.com/2017/05/24/bitcoin-surges-to-record-above-2400.html

The only use case of bitcoin is money laundering. But just that alone won’t get you a hockey stick curve. This is the 2017 versions of the tulip craze. If history is any guide, bitcoin price will continue to rise. Maybe a small set back or two just so people can point to them and say “see? it’s not a straight line up” and go back to party as usual. Price will go up to a level that even sane people like us will bang our heads on table and itching to go in.

Can we resist the temptation to buy in at $3,000? How about $4,000? What if it goes all the way up to $10,000? And every pundit will come out and say it’s a new economy blah blah blah. You say it’s a bubble because you don’t get it.

Watch out folks!


#2

Already one sane guy here went in. Wait for Isaac Newton! He went in early, made a small profit, and then went all-in near the peak.


#3

Meanwhile Toyota is exploring the use of distributed ledger with MIT:


#4

Blockchain is the tech behind bitcoin, not bitcoin itself.


#5

Thanks for educating me - I did not know. Learn something new every day. Now feel like I was talking completely out of turn.
https://www.quora.com/What-is-the-difference-between-bitcoin-and-blockchain


#6

I will not buy bitcoin at any price. Not even at $0.01. Yes, I don’t think it’s worth even one penny.


#7

Gold? A greenback?


#8

No, and no.

Only two things worth investing for me: stocks and real estate.


#9

Bitcoin just breached $4,000 tonight!

Now that it’s over 4k, anyone buying??


#10

What is the use for bitcoin anyways??? You can use money to buy anything. What can you buy with bitcoin? Reminds me of the tulip mania. Buy at your own risk…


#11

Gold is the last thing I would buy. But if I had to choose between gold and bitcoin, I would choose gold.


#12

Drug, and women.

The woman — whose identity is being protected by the Italian authorities — was grabbed by two men and jabbed in the arm with a syringe.

She fell unconscious, and was stripped, stuffed into a suitcase and thrown into the trunk of a car and driven across northern Italy to a farmhouse.

There, she was held as a handcuffed prisoner while her captors listed her for sale on the so-called dark web — available to the highest bidder.

The ad set the opening bid at $353,000 in bitcoin.


#13

:rofl: Bunch of morons…


#14

#15

#16

Beginning of the end… :rofl:

Again, why re-invent the wheel??? Who needs cryptocurrency when there are the good old dollar and gold…


#17

China government is a real government. F these fraudcoins


#18

Still, her timing may be, to riff off her old catchphrase, not that hot. Hours after tweeting her involvement in LydianCoin, China declared ICOs illegal. Meanwhile, U.S. regulators have said they have jurisdiction over ICOs, and companies that raise money through the sale of digital assets will have to adhere to federal securities laws.

However, Hilton is far from the first celebrity to hype ICOs. Boxing star Floyd Mayweather and American rapper The Game have touted the diverse digital token sales over the past month alone.


#19

Bitcoin price almost reached $5,000 two days ago…

But since then it has crashed 12% in two days.

12 month chart. Price was $606 last year. 7X in one year. People looking for 10x investment were not looking hard enough… :scream: :scream: :scream:


#20

This is tulips all over again. It will be an epic crash at some point.