Bitcoin Forum

is this the start of a new bitcoin bubble? I hope so.

Possibly a contributing factor to the growth of bitcoin as potential investors put some appreciable expenditure into diversifying their well managed portfolio.  This latest scare for Greeks would surely make them consider all alternative monetary tools for future incidents.

This why the bitcoin community is falling behind. Something new has started and all you guys can think about is that the price is going to be up? This is the sort of thinking that keeps our community still in the "FRUSTRATED" circle.

This is right and pretty sad. Quick profits seems to be the most important to a lot of guys here.

So exactly what would be the benefit of this so called bubble? I do not want to go through the same events that unfolded once the last one popped.
A lot of people are going to be hurt and will start complaining. Everything will stagnate again. A bubble isn't the right way forward.

Honestly it looks like Greeks have not had so much effect on Bitcoin yet (I'm talking about citizens buying). Although the situation could be beneficial once more and more people start realizing that Bitcoin could be their new safe heaven.

Exactly. Most are fueled by greed.

1. Bitcoin needs steady growth, not another bubble.
2. Greece as a country has no benefit in Bitcoin, they need either a loan, either a coin they can make inflation on. Some of the Greeks though, may find Bitcoin as a safe investment of their money and a way to export the money while the "capital control". However, I don't see a big scale for this movement because the capital control may be lifted until the end of the week and most people are still stuck to 50? Euro/day.

i can understand if their greed is toward the point to have more bitcoin to use them in the future when there will be fully adoption or whatever, but their primarely purpose is to dump for fiat, which make this whole thing even more sad

And that's exactly why its so hard to buy into a "rally". Almost all the time its no more than a pump, and within days the dump occurs within a few hours. It makes it hard to take it seriously when most people involved with btc want to only do that and make a quick Buck

Nah the Greek people will not be buying bitcoins as they are still under eurozone.
So basically the whales took advantage of the news about the Greece coming out of eurozone and pumped the prices of Bitcoin.

Why the hell do you wish for a bubble? Don't you rather want bitcoin to be substainable and slow and stady rise in price. Bubbles bring nothing good. Yeah, sure, you can earn some quick dollars, buy selling your bitcoins. But this is exactly one of the big problems with bitcoin. Many people like you (no offence) are just here to make a quick dollar and fail to see the greater perspective.

Not for a long time. The Greeks already learned the lesson, and they know in the not so far future, the same fate will be meet: choosing between insane austerity and trying luck outside the eurozone.

Hence furthering some of the conceptions that most people have of btc:
a) its a ponzi scheme
b) its only used for illegal activity online
c) the price is manipulated to create bubbles

It will always be thus until it reaches relative saturation. That's just how human nature works. It ain't changing any time soon.

I'm not really want a bubble price, just make a coins stable is enough i think, although i know the stability is have different level than fiat.
But if demand is more than supply exactly the price will rise, especially if big country adopt it.

Forget about Greece: https://dizzynomics.wordpress.com/2015/07/12/what-do-you-call-a-freely-floated-rmb/

No, the Greeks don't even know what Bitcoin is. Can't see it causing a bubble unless it causes the collapse of the Euro Zone

i think the hype around bitcoin will make traders buy. and that will make the price go up significantly, it will be due traders around the world, and not the greece people.

Ok i am going to reply. I have bought during previous bubble when btc was about 850. Now I am in big loss. My principle was never to sell at inferior price but wait. And I did. I need another bubble to cut the loss and sell back. Go back in pair with my savings. I have invested a lot if my life savings (I could afford to lose it, I mean I do not use them to live, but I would rather have them back).
This is why I really need a big price rise/bubble/whatever. I simply want my money back.

You've waited this long, why wait to just break even? If we are going to $850, $1000+ shouldn't be far off. I'd stick it out and wait. Who knows, with all these bull predictions going on we may hit way over your break even point.

when we will going to 850-1000++ now price like don't move in 6 month only in range 200-310. i dont again what will happen with bitcoin if this situation still continue

Bubble's make BTC look bad.

it scares people away, who wants to invest time/money in something that will collapse massively at a certain point.

Steady growth is best, even if it takes ages.

It looks like the vote in the Greek parliament has passed and they are going to proceed. It looks like the group that was behind this is going to get what they've wanted.
Greece is most likely going to sell a part of itself.
I'm not sure if this will have a effect on Bitcoin though. The price could rise, but only a bit.

I agree.  I have theorized that the WORST thing that could happen to btc is another bubble.  Look how many people lost a lot of money during the 2013 run up and subsequent crash.  Do you think they are waiting to get their hands back on some more btc?  Probably not!  It leaves a bad taste in peoples mouth and makes them much less likely to consider buying/holding/using btc again.

I lost some money during the crash, but luckily got out before the price went down too far.  I've been watching very closely since then, and waiting for the real bottom to hit.  I'm still thinking going back to $200 or so is possible when the greek/chinese frenzy dies down.

I'm sorry but this is a bit of nonsense. Bubbles are one of the main driving force behind Bitcoin adoption.

No I think bubbles would be the absolute worst thing for adoption.  I mean yes it gets btc a lot of press and attention, but you really think big time merchants want anything to do with a "currency" that goes thru multiple "bubbles" each year?  No that will make it harder and harder for btc to look legitimate, and I've read the CEO of overstock say its a hassle for returns.  They could just say we accept btc but returns only in fiat and make it easier than refunding in btc, but I think the volatility is a much bigger issue for adoption.

BTC is irrelevant as it currently stands when speaking of retail/commercial usage. Merchants willing to accept it will adapt whichever way they believe is best for them to conduct business. Meanwhile, in the real world, Bitcoin is a commodity and is getting traded as such. It doesn't matter what you think, history has shown that bubbles drive adoption like nothing else. Bust and boom cycles are Bitcoin's killer app. Greed is Bitcoin killer app.

Any smart person will tell you volatility is actually important for Bitcoin adoption. It attracts traders, it attract investors and we are in a phase where this is all we should care about : attracting more liquidity into the ecosystem. Again, it may hinder retail adoption but this is not important because until we increase Bitcoin's market cap at least 10-100x retail use will remain marginal.

Bitcoin first needs to establish itself as a high beta store of value and safe haven before we can actually begin to consider it as the commercial currency of the internet. Anything else is putting the cart before the horse.

This guy gets it.

Without bubbles, BTC would sit at its original price $ 0.05  :D

Bubbles help raise awareness of BTC and eases its adoption.

I don't agree that it scares people. At this moment, bitcoin is used by most people only for speculation purpose, and what will attract new investors, is another bubble. Now they're looking on a price chart and see "whoooa, if i'd buy it x years ago, i'd be rich. I cannot miss next bubble" ;) I think if price would still keep steady growing, many investors who now just looking from time-to-time on btc price, will buy it, believing that it's preparation for another bubble. And that's how another bubble will start.