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

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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Wed Dec 20, 2017

Steve Case was a loser of a CEO. You can give a better example than Steve Case.
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Wed Dec 20, 2017

Bucketeer wrote:Steve Case was a loser of a CEO. You can give a better example than Steve Case.



Warren Buffett called bitcoin 'a mirage' in 2014—here's where he says you should invest your money

While the famed investor hasn't said much about bitcoin recently, he called it "a mirage" a few years ago. "Stay away from it," Buffett said on CNBC in 2014, adding: "The idea that it [bitcoin] has some huge intrinsic value is just a joke in my view."


https://www.cnbc.com/2017/12/08/where-w ... money.html
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Wed Dec 20, 2017

Bucketeer wrote:Steve Case was a loser of a CEO. You can give a better example than Steve Case.


Bitcoin passes $11,000 but Jack Bogle still says avoid it 'like the plague'

But legendary investor and index fund revolutionary Jack Bogle isn't impressed. He weighed in on the subject at a Council on Foreign Relations event in New York on Tuesday, Bloomberg reports.

"Avoid bitcoin like the plague. Did I make myself clear?" said the Vanguard founder in response to an audience question.


https://www.cnbc.com/2017/11/29/bitcoin ... lague.html
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Wed Dec 20, 2017

Real ‘Wolf of Wall Street’ slams bitcoin again: It's a ‘huge danger’ and a 'bubble'

https://www.cnbc.com/2017/12/19/real-wo ... anger.html
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SilverDoge
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Re: Is Bitcoin in a bubble?

Postby SilverDoge » Wed Dec 20, 2017

tdtwedt wrote:Real ‘Wolf of Wall Street’ slams bitcoin again: It's a ‘huge danger’ and a 'bubble'

https://www.cnbc.com/2017/12/19/real-wo ... anger.html


Why would people listen to the real Wolf of Wall St? Him being against it is bullish!

:grinch:
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Wed Dec 20, 2017

SilverDoge wrote:
tdtwedt wrote:Real ‘Wolf of Wall Street’ slams bitcoin again: It's a ‘huge danger’ and a 'bubble'

https://www.cnbc.com/2017/12/19/real-wo ... anger.html


Why would people listen to the real Wolf of Wall St? Him being against it is bullish!

:grinch:



Scammers know a scam when they see it. :shifty:
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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Wed Dec 20, 2017

tdtwedt wrote:
Bucketeer wrote:Steve Case was a loser of a CEO. You can give a better example than Steve Case.


Bitcoin passes $11,000 but Jack Bogle still says avoid it 'like the plague'

But legendary investor and index fund revolutionary Jack Bogle isn't impressed. He weighed in on the subject at a Council on Foreign Relations event in New York on Tuesday, Bloomberg reports.

"Avoid bitcoin like the plague. Did I make myself clear?" said the Vanguard founder in response to an audience question.


https://www.cnbc.com/2017/11/29/bitcoin ... lague.html


Bogle is a well respected man. Thank you.
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oktyabyr
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Re: Is Bitcoin in a bubble?

Postby oktyabyr » Wed Dec 20, 2017

I tried to sell some the other day on Coinbase. It took me probably over 30 minutes. Meanwhile BTC lost over 3k. And fees are ridiculous. I was going to send someone $300 a week ago, but it was going to cost me another $300 to send it. It’s fine if you’re going to send $30k to someone. But what if I want to pay my grocery bill of $100, but it’s going to cost me $300 and I have to wait 12+ hours just to get my groceries. It has some serious flaws to address before it’ll be worthwhile. I sold all that I had.

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300Braveheart
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Re: Is Bitcoin in a bubble?

Postby 300Braveheart » Thu Dec 21, 2017

oktyabyr wrote:I tried to sell some the other day on Coinbase. It took me probably over 30 minutes. Meanwhile BTC lost over 3k. And fees are ridiculous. I was going to send someone $300 a week ago, but it was going to cost me another $300 to send it. It’s fine if you’re going to send $30k to someone. But what if I want to pay my grocery bill of $100, but it’s going to cost me $300 and I have to wait 12+ hours just to get my groceries. It has some serious flaws to address before it’ll be worthwhile. I sold all that I had.

What do you all think about Litecoin replacing Bitcoin as a short-term solution to these particular problems? I assume that would take effect as more merchants choose LTC over BTC. Or is BTC's unsustainability a curse for LTC as well?
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SilverDoge
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Re: Is Bitcoin in a bubble?

Postby SilverDoge » Thu Dec 21, 2017

300Braveheart wrote:
oktyabyr wrote:I tried to sell some the other day on Coinbase. It took me probably over 30 minutes. Meanwhile BTC lost over 3k. And fees are ridiculous. I was going to send someone $300 a week ago, but it was going to cost me another $300 to send it. It’s fine if you’re going to send $30k to someone. But what if I want to pay my grocery bill of $100, but it’s going to cost me $300 and I have to wait 12+ hours just to get my groceries. It has some serious flaws to address before it’ll be worthwhile. I sold all that I had.

What do you all think about Litecoin replacing Bitcoin as a short-term solution to these particular problems? I assume that would take effect as more merchants choose LTC over BTC. Or is BTC's unsustainability a curse for LTC as well?


I like LTC. The problem is that it is also a PoW coin. I just don't see that as the future of crypto long term for more than BTC, but it could still do well in the short to medium term. Have you seen Dash taking off? That is a hybrid model alternative. B-cash has more going for it as an alternative to bitcoin because it is systemically different, without SegWit and with bigger blocks. LTC will experience the same problems that BTC is experiencing if it becomes as popular as bitcoin - assuming that the lightning networks (LN) don't solve the scaling issues for both coins.

This is a tough call overall and there are reasons on either side of the spectrum to like it or not. The founder, Charlie Lee, just sold his entire LTC position. From an old school investing perspective that would scare me... does he have no faith? But in the new crypto world, one could argue he is philosophically doing the right thing - now the community isn't at risk of a large, unknown, and untimely dump by a founder - which is an exact problem with projects like Ripple. Old school investors would see this and mock him, but true cypherpunks get what he is trying to do. There is still fear that Satohsi could "dump" his million bitcoins and throw a curve ball at the market. I see this as low risk, but the possibility does exist.
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Thu Dec 21, 2017

Long Island Iced Tea Soars 500% After Changing Its Name To Long Blockchain

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http://www.zerohedge.com/news/2017-12-2 ... blockchain
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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Thu Dec 21, 2017

WTF......that's hilarious.
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tdtwedt
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Re: Is Bitcoin in a bubble?

Postby tdtwedt » Thu Dec 28, 2017

Bitcoin 'doesn't pass the smell test,' says Massachusetts securities regulator

Secretary of the Commonwealth of Massachusetts William Galvin says bitcoin "doesn't pass the smell test."

"There is no product here. This is entirely speculation. That's already been proven by the high gyrations of the value. It's also subject to manipulation, because no one can explain it no one can control it," Galvin says on CNBC's "Fast Money."

On Dec. 13, Galvin issued what is likely the first investor advisory on bitcoin from a state.


https://www.cnbc.com/2017/12/27/bitcoin ... lator.html
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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Thu Dec 28, 2017

Massachusetts is one of the highest taxes state in the US, and the roads around Boston suck.
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Silver Addict
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Re: Is Bitcoin in a bubble?

Postby Silver Addict » Thu Dec 28, 2017

tdtwedt wrote:Bitcoin 'doesn't pass the smell test,' says Massachusetts securities regulator

Secretary of the Commonwealth of Massachusetts William Galvin says bitcoin "doesn't pass the smell test."

"There is no product here. This is entirely speculation. That's already been proven by the high gyrations of the value. It's also subject to manipulation, because no one can explain it no one can control it," Galvin says on CNBC's "Fast Money."

On Dec. 13, Galvin issued what is likely the first investor advisory on bitcoin from a state.


https://www.cnbc.com/2017/12/27/bitcoin ... lator.html


Isn't this the idea behind it?

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satosan
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Re: Is Bitcoin in a bubble?

Postby satosan » Thu Dec 28, 2017

The value in any of these coins is based on the market cap/circulating supply of the coin. Seems the bubble can only burst (stop growing) when every single $ is taken up by BTC and Altcoins. With the issue of fees involves around BTC the small investor/user is getting squeezed out of this market in some respects. Seems to me that would bode well for some of the alternatives.
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BotanicusRex
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Re: Is Bitcoin in a bubble?

Postby BotanicusRex » Thu Dec 28, 2017

No intrinsic value + 1200 competitors (and counting) + FOMO weak hands (Fear Of Missing Out) + negative legislation (S.Korea,China,?) + 'investment' need for constant flow of new money (Ponzi-like) + a founder seeing the 'lite' and bailing with a mega fortune + generally bad press + corruption risk (where there's a will there's a way) = Bubblelicious
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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Thu Dec 28, 2017

BotanicusRex wrote:No intrinsic value + 1200 competitors (and counting) + FOMO weak hands (Fear Of Missing Out) + negative legislation (S.Korea,China,?) + 'investment' need for constant flow of new money (Ponzi-like) + a founder seeing the 'lite' and bailing with a mega fortune + generally bad press + corruption risk (where there's a will there's a way) = Bubblelicious


You might be right. :thumbup:
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SilverDoge
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Re: Is Bitcoin in a bubble?

Postby SilverDoge » Thu Dec 28, 2017

BotanicusRex wrote:No intrinsic value + 1200 competitors (and counting) + FOMO weak hands (Fear Of Missing Out) + negative legislation (S.Korea,China,?) + 'investment' need for constant flow of new money (Ponzi-like) + a founder seeing the 'lite' and bailing with a mega fortune + generally bad press + corruption risk (where there's a will there's a way) = Bubblelicious


Interesting. Here is how I read your paragraph.... while the elites, Wall St crowd, and media establishment pushed the real estate bubble and dot com bubble to ridiculous highs (as they all profited), now that those same people are left out in the cold on crypto, and the common man is able to profit without them, they bad-mouth it at every possible chance in order to convince the masses that it is a bubble and it is in your best interest to stay as far away as possible. And even with governments trying to outlaw or regulate it, media personalities warning you to stay away, elite banksters calling it a fraud - they still can't stop it, and it continues to gain adoption.

PM stackers on the same side as the elites, banksters, MSM, and the authors of debt based fiat really has to make you wonder. Crypto is the easiest way to get a person to begin questioning "what is money?" and as soon as they ask that question the rabbit hold goes deep. This is exactly what the status quo doesn't want - a mass awakening. But PM stackers want to pretend that crypto is an enemy, and in doing so unceremoniously take the side of elite banksters. If only they could see that we fight the same evil, and we are two sides of the same coin against the corrupt elites.
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Bucketeer
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Re: Is Bitcoin in a bubble?

Postby Bucketeer » Thu Dec 28, 2017

SilverDoge wrote:
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.


Bars, I completly agree with Doge, but I joined up 4 years ago. I had a problem with a sale a long time ago, and they fixed it. They have to be careful with credit cards because of charge-backs. Coinbase is OK, and they are coping with a huge number of new applicants that require AML & KYM vetting. Last month on 1 day they received over 100,000 applications. Wait it out and jump thru the hoops.

No problem with large withdraws either. It takes 3 business days to transfer. They are not an ATM.
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