Is Bitcoin in a bubble?

Please put all polls here.

Is Bitcoin in a bubble?

Poll ended at Tue Dec 12, 2017

Hell Yes!
25
46%
Yes.
7
13%
Maybe.
5
9%
No.
9
17%
Hell No!
2
4%
Don't care/ Don't Know
6
11%
 
Total votes: 54

XFactor
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Is Bitcoin in a bubble?

Postby XFactor » Thu Dec 07, 2017

Do you guys think Bitcoin is in a bubble?

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Silversaving
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Re: Is Bitcoin in a bubble?

Postby Silversaving » Thu Dec 07, 2017

Stocks are in a bubble. Housing is in a bubble.

Bitcoin isn't even close to bubble territory yet. when it has a valuation in the trillions we can talk again.
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Jono
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Re: Is Bitcoin in a bubble?

Postby Jono » Thu Dec 07, 2017

Lol I'm the only one that said yes...... maybe I should reevaluate my position
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silverhead
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Re: Is Bitcoin in a bubble?

Postby silverhead » Thu Dec 07, 2017

In a bubble and a Ponzi type scheme
But I am jealous that I don't have any :lol:
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Tractor Man
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Re: Is Bitcoin in a bubble?

Postby Tractor Man » Fri Dec 08, 2017

I bought a little the other day, 0.01 to be precise.

I think I'll buy myself 10 gold eagles when bitcoin hits a million next year. ;)
The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence. Charles Bukowski
Doubt is not a pleasant condition, but certainty is absurd. Voltaire

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SilverDoge
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Re: Is Bitcoin in a bubble?

Postby SilverDoge » Fri Dec 08, 2017

Bitcoin beginner's thread: http://www.bullionstacker.com/viewtopic.php?f=108&t=28780#p549810

I'm too late to enter, bitcoin is a bubble. [22 SEP 2017]

In a bubble compared to what? Bitcoin is an alternative currency. Only 21 million will ever exist, and several million of those are probably already forever lost. It is not a mandated currency, it is a voluntary one. When I watch the price of bitcoin (in USD fiat terms) increase, what I'm really seeing is the fall of the other competing fiat currencies like the USD, euro, yen, etc. These fiat currencies are falling hard compared to the better alternative - bitcoin.

Previous bubbles in the stock markets or real estate have obvious benchmarks to compare against both historically, year over year, and against other markets. Stocks have Price/Earnings ratios, dividends, and other metrics where prices are based on future earnings. Real estate has both rent value equivalents, replacement value level (construction), and Price/Annual Income. If you are paying 15 times your annual salary for a house, it is historically WAY overpriced. These metrics tell us if/when a bubble is forming.

Money & currency are different. They are arguably always in a bubble, because their usage is based on confidence in the underlying system and network. There is no price/earnings because there are no earnings. Now some cryptos will have earnings (DBET), but currencies like bitcoin will not. Bitcoin's value is simply derived from the amount which other people are willing to trade other currencies for it. So if there is a party willing to give $3k or $15k for a single bitcoin, then that will establish a market price. One could argue it is irrational to pay "x" price for 1 bitcoin, but that is a theoretical and subjective opinion. If bitcoin is a superior currency in theory and reality (and it is), why not acquire it with depreciating fiat that can be printed to infinity? The smart play is to acquire as much of the best currency as possible as cheaply as possible.


In July of 2018, as bitcoin crests $68,000 (random guess) per bitcoin someone is going to claim that it absolutely now HAS to be in a bubble because of its USD price, completely disregarding the fact that our government can print (or digitally create) as many USD as they want. Bitcoin is the ONLY currency (not counting other currency type cryptos) with a predictive, known, and non-inflationary emission rate. It should be a surprise to us if it weren't rising against these other worse fiat alternatives.

The question isn't is bitcoin in a bubble. The question is can I get some cheaper tomorrow with my depreciating fiat that I can get today. If you believe it will be cheaper tomorrow, then wait and exchange with your fiat tomorrow.
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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Fri Dec 08, 2017

silverhead wrote:In a bubble and a Ponzi type scheme
But I am jealous that I don't have any :lol:


Here's the situation. You would sell out at these prices.

Bulls stay long, which is why Bitcoin is going to Mars.

WARNING: If a Bear goes long, take a look. Bears are skeptics.
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SilverDoge
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Re: Is Bitcoin in a bubble?

Postby SilverDoge » Fri Dec 08, 2017

Tractor Man wrote:I bought a little the other day, 0.01 to be precise.

I think I'll buy myself 10 gold eagles when bitcoin hits a million next year. ;)


John McAfee thinks you'll have to wait until the end of 2020. The question is can you hold that long while the price rises without selling out back to fiat? Oddly that seems to be the most difficult problem in the bitcoin space. Talk about a good problem to have though.
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Fri Dec 08, 2017

silverhead wrote:In a bubble and a Ponzi type scheme



:pop:
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Brick's
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Re: Is Bitcoin in a bubble?

Postby Brick's » Fri Dec 08, 2017

Bubble? Maybe, but absolutely nobody I have asked in my day-to-day activities even knows what they are. My financial advisor has heard of them but is less aware than he is regarding PMs as insurance. Yet to have my barber or cabby offer tips so I think it could easily have a ways to go even if it is parabolic on the charts.
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Turtle
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Re: Is Bitcoin in a bubble?

Postby Turtle » Sat Dec 09, 2017

If you think its a bubble, you dont understand it. Its probably undervalued if anything. Its goal is to become a universal currency. Its still only at a minority saturation. To reach majority and supermajority, it would probably need to hit a million.
:turtle:

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Turtle
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Re: Is Bitcoin in a bubble?

Postby Turtle » Sat Dec 09, 2017

silverhead wrote:In a bubble and a Ponzi type scheme

You cant spend ponzi scheme shares at the local pub.

But I am jealous that I don't have any :lol:

I think thats what it is. Salty people who didnt get in. Be like me. I laughed at a rudimentary ATM selling for $20 a pop. I accept it, as much as I wished I popped a Jackson in there. Im more mad I didnt invest at 250 when I had a good opportunity. But I had just moved to NH and didnt want to blow money.
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Tue Dec 19, 2017

:pop:
There are more ways than one to skin a cat.

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iron-pyrite
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Re: Is Bitcoin in a bubble?

Postby iron-pyrite » Tue Dec 19, 2017

I keep buying and selling at 8-10% profit, if I could have just held on it would have been 1000%+++ but if 1 million is the magic number.... I don't know if I can sit on my hands
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BarsandStars
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Re: Is Bitcoin in a bubble?

Postby BarsandStars » Tue Dec 19, 2017

Has anyone successfully withdrawn any sizable amount of money from Coinbase/Bittrex, etc without issue? $10k+ $50k?

I tried for a week just to verify my ID on coinbase and it still won't work. Does not give me any confidence that I'd actually be able to withdraw when needed so I'm just giving up. Maybe this thing goes to the moon and you all get rich. Remember us little guys if you get your money out.
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SilverDoge
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Re: Is Bitcoin in a bubble?

Postby SilverDoge » Tue Dec 19, 2017

BarsandStars wrote:Has anyone successfully withdrawn any sizable amount of money from Coinbase/Bittrex, etc without issue? $10k+ $50k?

I tried for a week just to verify my ID on coinbase and it still won't work. Does not give me any confidence that I'd actually be able to withdraw when needed so I'm just giving up. Maybe this thing goes to the moon and you all get rich. Remember us little guys if you get your money out.


I have a $10,000 daily withdraw limit, which I could increase if desired. I am a long term customer and verified and vetted.

It isn't about "getting your money out" when you believe in crypto though. It is about spending crypto for real goods and services in the future economy which I plan to do. My 2 sats.
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cmiller17363
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Re: Is Bitcoin in a bubble?

Postby cmiller17363 » Tue Dec 19, 2017

SilverDoge wrote: My 2 sats.

I see what you did there! :lol: :duck:
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blackrabbit
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Re: Is Bitcoin in a bubble?

Postby blackrabbit » Tue Dec 19, 2017

BarsandStars wrote:Has anyone successfully withdrawn any sizable amount of money from Coinbase/Bittrex, etc without issue? $10k+ $50k?

I tried for a week just to verify my ID on coinbase and it still won't work. Does not give me any confidence that I'd actually be able to withdraw when needed so I'm just giving up. Maybe this thing goes to the moon and you all get rich. Remember us little guys if you get your money out.


It won't verify me either.
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It is much easier to fool a man than to convince him that he has been fooled.

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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Wed Dec 20, 2017

Bitcoin is biggest bubble of them all, and it’s the Fed’s fault, says Ron Paul

https://www.cnbc.com/2017/12/20/bitcoin ... -paul.html
There are more ways than one to skin a cat.

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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Wed Dec 20, 2017

Billionaire AOL co-founder Steve Case: Bitcoin mania reminds me of the dot-com frenzy 20 years ago

https://www.cnbc.com/2017/12/20/aol-co- ... ubble.html
There are more ways than one to skin a cat.


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