Bitcoin Bubble


#443

I don’t really need anything to 5x in particular. Doubling is fine with me. I’m not greedy… :laughing:


#444

Um… paper money? I don’t even use that at Vegas anymore. Please don’t give bitcoin more credit than it deserves; that’s how bubbles are formed.


#445

True. Option value. Playing for the long tail.

My case against it is psychological. Like there is no one who just dabbles in heroine without becoming an addict, that “3-5%” could balloon into 30 to 50% if the going gets too good. I understand what you are saying on a cold, rational level. But I am a flawed human. I don’t want to create a honey trap for myself.


#446

Not yet, it will go to $40k, a scary correction and then all the way to $1M. Those who bought bitcoin would ridicule you so hard that you would sell all assets you’ve and buy buy buy bitcoin at $900k… and happy that you gain 10% in just 1 hour. Can bear to continue the story.


#447

The guys who advocated bitcoin are the Siamese twins who lost to Zuckerburg in the Facebook battle, and Mr. Mcaffee who enjoys eating his own dick. I don’t think these guys “have it”… :rofl:


#448

You need to be educated on use cases of crypto. can you program money now, to automatically tip 20% when ever you pay.

I am not disagreeing with bubble valuation, I dont understand the instrinsic value of this thing. Use cases are plenty.


#449

I don’t need to be educated on anything. I know a bubble when I see one.


#450

Totally @wuqijun I thought was the biggest bull in the forum, he is ignoring the biggest bull market out there. Whats the missing link?


#451

There’s no missing link with me. The missing link is with you guys. I’m bullish on assets that have an intrinsic value. That means stocks and real estate. Bitcoin is somewhere between a currency and a commodity. I was never bullish on currency or commodity investments.


#452

This is first world currency that’s easily transferable. Gold is hard to keep, devide, measure and transfer

For example, liberals want a border less world. Bitcoin will make it closer to reality. Undocumented workers can send bitcoins to their family and make western union out of business.

This will cause a revolution to financial industry and government monopoly on monetary policy. Expect a lot of political prosecution against Bitcoin


#453

Say what you can to lift this sucker up to stratosphere. It can probably make people immortal too… wouldn’t that be grand! But at the end of the day it’s just a method of transferring wealth from one party to another. It creates no wealth nor value on its own.


#454

Um… so did you secretly sell all your AAPL shares and purchased bitcoin? If not, then don’t mislead people by pretending to be a bitcoin bull… :wink:


#455

$3T market cap in 5 years? All other companies are goners? Acquired by AMZN?

Thought you’re married :thinking:


#456

My wife told me to throw $1000 at bitcoin to hedge the possibility of it going to $1M. $1k to $100k :grin:


#457

$1k??? Um… ok… :rofl::rofl::rofl:


#458

If everyone throws in a thousand that alone will inflate this turkey into oblivion …


#459

AMZN going to 3T is another chamath classic. To be fair I don’t recall him giving a timeline. Maybe another chamath disciple @RealEstatebull can chime in.


#460

Governments are joining


#461

Wall Street earns a ship load of money by moving money around. You’re like Warren Buffett a few years ago: too hung up on the models you’re comfortable with and too skeptical on the new ones. @hanera gave Buffett a good lesson on AAPL and Berkshires’ AAPL holding now almost doubled. :rofl:


#462

I am out of bitcoin (GBTC) when you explained the BitCoin-Tulip model. Until then, I had $25000 in GBTC and came out nicely with $4000 profit. Thereafter no regret even though GBTC doubled from my original price.

Now, I realized it is a fire and people playing with it. When everyone is pulled by greed, the real effect of fire we will see!

Even though people stay away from bitcoin, domino effect on stock market will continue to hit everyone. My only concern is how to escape from the correction coming when Bitcoin POPs and when.

You made at least one person out of Bitcoin ! Kudos to you !!