Bitcoin Forum

Bitcoin is now in bubble phase..reminding everyone of the Tulips ponzi scheme bubble of the 90's
Use the site to send symbolic message !(when the bitcoin  bubble pops)


https://sendcryptopeopletulips.com


(the smug feeling you'll get is priceless    ;D ;D ;D ;D )

lmao, did you create this website?
Chuck appreciates fun in this period of craziness

Agree we are in a bubble or some sort but nobody knows how big of a bubble or how long this bubble will last. It could last a few more days, months, or even take us well into next year. That is what nobody knows and for me that is what makes this ride all the more fun. I am fully prepared for a big bubble burst btw and certainly haven't thought what I have is mine until I cash out.

What will cause bubble to burst? Demand seems to be increasing but there must be a limit on price at some point?

I agree,in good old days the bitcoin had a limited community who were fully passionate about it and trading was among them..now it is quite different..big bulls have entered into the market..they are heavily manipulating the price and building hype that it will go to a million dollars...(just like pumping the penny stocks)

Now hardly anyone is using for transactions..the txn fee is tooo high and confirmation is taking ages..
The bubble should burst..sooner or later..

Bitcoin never equals to Tulip Mania. Every one considered Google play store apps to Tulip now what happened every one depended on apps likewise Bitcoin and technology behind is worth trillions of dollars

Tulip is a ponzi scheme like you said it yourself. is bitcoin a ponzi or digital currency? that is the question you should ask yourself.

In a ponzi scheme early adopters are paid from the money put in by latecomers so it doesn't apply. A bubble, though? Maybe. But I believe in it, so if the price goes down I'm going to buy.

It is not a bubble, it is disruptive technology, that takes the power from centralized banks that are printing fiat money. Bitcoin instead empowers people. Bitcoin is new class of investment asset and decentralized currency. Based on your assumption, we can tell about gold it is a bubble as well - as only small portion has real use and you can try to purchase something with physical gold or take it with you around the world - in most cases you get into troubles. You can move easilly with Bitcoin anywhere you want, you can buy almost anything with it directly - yes, the fees can be sometimes high during the busy times but the lighting network is in the works and it would return Bitcoin soon to micro transactions again.

Is it your website? It's a funny idea but i don't think people will need your tulips because the bubble seems to be resistant.

It can explode at any time, but trend-followers are those who risk and accept loss. I think bitcoin is hard to get back to $ 15,000 at least this year.

lol that's 90's and today is a different story.. bitcoin is not a bubble. people wants blockchain that's why the impact of bitcoin keeps increasing. that's why we should research well about blockchain..

Indeed ... anyone can easily plant and grow tulips ... go ahead try to mine some bitcoin  ;D

Affected smugness is a poor cover for the envy of “sour grapes”.  Of course, all the people who didn’t buy Bitcoin for $1000 or less now are eager to lecture others about tulips—as if that were some obscure bit of history.  (My, you look so smart….)

Damn straight:  This is the 90s in Bitcoin, and more broadly, in so-called “cryptocurrency”.  There will be a big shakeout.  Most altcoins and all ICOs will die deservedly painful deaths, by analogy to your stock in pets.com and omigoshimadeawebsite.com.  But you know, that “Web” thing didn’t exactly go away.

People who compare Bitcoin to the 90s Web are paying Bitcoin a high compliment.  Of course, I fully agree with that assessment.  I oft compare the 2013 Winklevoss investment in Bitcoin to buying Amazon.com stock in 1995.  I think buying Bitcoin at $18–20k now is roughly tantamount to investing in Amazon in 1999.  If 2017 is 1999 for Bitcoin, imagine what Bitcoin will look like 18 years hence!

Oh, yes, enjoy your smugness.  These grapes are mighty sour.  You don’t want them.  Be glad you missed out.  If you’re even old enough to remember that time, you are probably also glad you were smart enough to sneer about tulip bulbs at all the people buying Amazon.com stock in 1999.  That’s totally worthless now, you know.

Exactly.Tulips had no other use than a decoration.But bitcoin is backed by its loyal community,traders.It is still used a s a payment but in small numbers.Very soon,this number would increase when big companies like amazon start accepting bitcoin as payment.Also,we should not forget japan contributing by accepting bitcoin as payment all over the country.So,disappointing the bubble expectors,bitcoin would not burst since its not at all a bubble.

Have you tried to $10 btc from you wallet ,lately
Check the txn fee....come back and post here

[BTW I am early adapter of bitcoins..I can show my desktop core wallet with transactions as early as 2011 .BTW..I hold lots of bitcoins.My thre is only those speculators who are jumping in for big moolah..they don't care if it is bitcoin or gold or tulips..]

When anything grows 10000x times over fortnight,it is not called growth..It must be a disease or bubble !

Isn't it a bad image for people to link Bitcoin or any other cryptocurrency with the Tulip scenario?

Either I’ve been under a rock, or you’re incompetent at maths.  When did Bitcoin have growth of “10000x times over fortnight”?  Seriously:  Growth of ten thousandfold in two weeks?

(I see you conveniently ignored what I said about Amazon and the Web in 1999.)


Um, yes.  Congratulations, you understood the original poster’s point.  For reasons unknown, BlackRock is trying to make a bad image for Bitcoin.

10000x or some X times is to make my point of abnormal growth ..with some exaggeration
I am not against bitcoin,but the rogue manipulators/traders who will do more harm to bitcoins, than good

You can not compare amazon to bitcoin..
Amazon is regulated and do not pose any threat to Govt..where crypto currencies are opposite
(I am not against bitcoins or blockchain or the technology ..bit against speculative trading)

somehow ( I am think as scientist ) all that debate about growth reminds me 'machine learning' and the famous "Iris flower data set" ...


ps-> nullius how did you get a PGP Ed25519: 0xC .... ?

Fair enough.  In principle, I am also against speculative trading; though I certainly do not complain about appreciation of my bitcoins’ value!  I am in Bitcoin primarily for reasons of ideology.  I know full well that not every person in the entire world can get rich by applying some magic formula, ICO scammers’ advertisements to the contrary notwithstanding.

But 10x–20x growth in the course of a year is not ipso facto indicative of a bubble.  It’s unusual, to be sure.  Still, in growth per time, that’s five orders of magnitude different from 10000x in a fortnight.  Again, the comparison to Amazon applies:  The major web companies, the ones which survived the 2000 shake-out, have had points where they experienced >10x actual growth in a year.  Had Amazon “grown” 10000x in two weeks—well, there would no longer be any such company.

I do share your concern about certain apparent political collision courses, perhaps inevitable.  That’s why I try to inform people about the historical incidence when gold was banned for four decades in the U.S. (https://bitcointalk.org/index.php?topic=2552381.msg26015394#msg26015394)  But rapid growth of the Bitcoin market enhances its robustness against such potential attacks; whereas comparisons to tulips seem only to befit calls for instant regulation, to “protect people from themselves”.

I also don’t think that regulatory concerns negate the comparison to Amazon.  Amazon also faced regulatory concerns, such as the enmity of states which were losing sales tax.  On this, they eventually joined the enemy, so to speak.  I hope the analogy is not too perfect here.

If you have a large holding from 2011, then just enjoy it and support Bitcoin’s further development and social acceptance.  This last is important, because Bitcoin is more than a technology:  Bitcoin and its value are a sociological phenomenon.  As the latter, Bitcoin does have an excellent prospect for surmounting all obstacles and becoming ubiquitous.  If that happens, then in ten years, $20k/BTC will look like your 2011 exchange rates.  Calling for smugness about tulip bulbs cuts in the opposite direction; it hampers social acceptance.  It’s just cheap FUD.  If you’re such a long-time Bitcoiner, I think you can do better than that!

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Interesting thought.  I will need to chew on that one for awhile.  Thanks.


GnuPG supports ECC since version 2.1 (https://www.gnupg.org/faq/whats-new-in-2.1.html#ecc).  Requires options `--full-gen-key --expert` (or noninteractive key generation as I used).  NIST and Brainpool curves are supported; but also:  “For many people the NIST and also the Brainpool curves have an doubtful origin and thus the plan for GnuPG is to use Bernstein’s Curve 25519 as default.  GnuPG 2.1.0 already comes with support for signing keys using the Ed25519 variant of this curve.  This has not yet been standardized by the IETF (i.e. there is no RFC) but we won’t wait any longer....”

Much PGP software does not yet support my Curve25519 keys.  My .sig reminds me of the 90s, when people had both PGP2/PGP5 keys.  In the mass market, interestingly, Keybase can use my ECC keys just fine.  I’m not sure if that’s a good thing.

(Apologies for the offtopic discussion.  It’s an important issue, especially when asked by a GnuPG supporter!)

If you truly believe in cryptocurrencies you must be a genius. You will get paid for those tulips and they will be never shipped. My respect.

yep, I follow a bit the cypherpunk list on Curve255 ... when I asked was because I was kind more interested on the hardware that generate that curve  ( I also do Apologies for the 'offtopic' ( of course related to bitcoin it is not 'off topic' at all ) 

The were on question on why distrust RSA....

btw nice to review Ron Rivest, co-inventor of RSA
"RSA-129" posed a challenge experts said would take 40 quadrillion years to solve - but took 17....

https://www.youtube.com/watch?v=YQw124CtvO0

 ;)
Featuring Ron Rivest, co-inventor of RSA

I don’t believe in “cryptocurrencies”.  I believe in Bitcoin.

I say this, having lost a substantial amount on a decent altcoin.  It was not a scammy one, I did not purchased it for speculation; I liked its technological innovation.  What I received was a very expensive lesson about Bitcoin:  Bitcoin is not only a technology; it’s a sociological phenomenon.


“By the power of your private keys, you will hold your coins until you die; and though dust you may become, numbers are forever.”

Yes, call me a believer in Bitcoin, a preacher of Bitcoin, a Segwit witness for Bitcoin!

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Thanks for the link.  I’ll need to watch that later.

Assumptions about the difficulty of factoring large integers always made me nervous.  I don’t mean rationally nervous:  More a gut-hunch, spine-tingling kind of reaction.  The significant factoring advances by mathematicians over the years and decades speak more to my brain, as does the persistent overestimation by RSA advocates of RSA’s strength at particular key sizes.

I don’t know of any special-purpose hardware to generate Curve25519 PGP keys.

Won't the CME investments make it stronger?

I am really not sure if its gonna brust this soon...

*CME is bringing investors

*We have a lot of hard forks this month

I think this is for  sure that the bubble is going to stay in place till the next year or maybe more than that

Why do you speak of the hardforks as if beneficial to Bitcoin?  The hardforks are attempts to attack Bitcoin (https://medium.com/@lukeparker/the-trust-attack-a6241a08a9cd), a negative.  Of course, when Bitcoin crushes these scam forks, it will show itself to be stronger than the attackers.  In the long term, that’s a positive.  It’s also (sort of) a positive that well-funded attackers are willing to spend money trying to trash the Bitcoin name and market.  At least, this demonstrates that Bitcoin is important.

Mostly, I see CME as a sign of broader social acceptance, and the beginnings of mainstream financial acceptance.  Those are altogether a double-edged sword.  But on the whole, I think events are moving in a good direction for Bitcoin.

I don’t see any bubble at all.  Someday, everybody will want some Bitcoin.  The supply is definitionally limited:  If there ever could be more than 21 million currency units, then it’s not Bitcoin.  Current demand is still orders of magnitude under possible demand.  Where do you see a bubble in this?

I don’t know of any special-purpose hardware to generate Curve25519 PGP keys.
[/quote]

me too ... 

only general-purpose hardware such as ARM[1] stm32f103

Arm Holdings (Arm) is a British multinational semiconductor and software design company, owned by SoftBank Group (https://en.wikipedia.org/wiki/SoftBank_Group)

you people keep calling bitcoin a bubble for years. even when price was so much lower than this which makes me laugh to think about it! and i bet half of those who call bitcoin a bubble and compare it with Tulips don't even know what they are comparing bitcoin to!
and you know what, even a broken clock is going to tell the time correctly twice a day, so i am sure we are in for a lot of "i told you so" in the near future when eventually a bubble happens and then bursts!

The tulip mania that resulted into that famous historic bubble did not happened in the 90s but in the 1600s. The debate whether Bitcoin is now in a bubble and whether that bubble is about to burst soon will never be settled unless what predicted will occur. So all we have to do is wait and for us Bitcoin loyalists we are hoping that Bitcoin can be different and this time the market will behave differently. One thing for sure is that we have to be prepared and those newbies in the trade should educate themselves so they will not be shocked come what may. There will always be risks associate with anything we go into and Bitcoin is never an exemption to that rule. Those people who took the risks will reap the immense benefits if the gamble will paid off. Good luck to all of us.

Well, I would think that any general-purpose hardware can do Curve25519, or any other computable algorithm.  But thanks for the tip.

With the questions you’re asking, I wonder if you looked at my keys and noticed my C is separate from S, E, and A.


Oh, no.  Softbank (https://en.wikipedia.org/w/index.php?title=SoftBank_Group&oldid=814890678) must be a bubble!

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Bitcoin is a bubble at $1200/BTC.  You were a fool if you bought some imaginary Internet money at such a high price.  A fool!  Don’t buy at $300/BTC.  It is only a speculative game, no better than casino gambling; you will lose all your money.  Seriously, if you think “Bit Coin” is worth $100/BTC, just wait for the bubble to pop and you will see how stupid you are.  Didn’t you ever hear of tulip bulbs?




Hmmm...


Dear reader:  Do you wish that weren’t a matter of hindsight for you?

Yes, I know of the market turmoil later that year.  But in retrospect, the only lesson to be thus had is this:  People who panic-sold when the Mt. Gox failure crashed a (small, immature) market, are now crying; and those who “hodled (https://bitcointalk.org/index.php?topic=375643.msg4022997#msg4022997)” are now laughing.  As with any other sound investment, those who calmly hold for the long term will perform better than those who get burnt trying to make a get-rich-quick speculative daytrade.  That’s not a revelation.

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You needn’t lecture on history.  Those who remember the 90s, also remember how some people explicitly compared the Web to Dutch tulip mania.  Amazon.com was a “bubble” because a “web site” is not a real thing (just as Bitcoin isn’t “real”).  Nobody will shop at a “website”.  People want to go to the store, and pick things up in their hands.  It’s a fad, driven only by hype and market speculation.  It will fail.  You’re investing in tulip bulbs.

By the end of the 90s, right before the shakeout which mass-exterminated the dot-com equivalent of ICOs, some financial advice columns were filled with mini-lectures about “tulip bulbs”.

I myself pick on Amazon now, because I remember specifically how some self-styled contrarians were obsessed with smug sneers at Amazon.  Two decades later, I suppose the same people are now smug about sending tulip bulbs to Bitcoiners.  Well, they need to make themselves feel better somehow.


I generally agree with what you say there.  But do you truly believe that the types who buy in excitement and sell in panic could be in any way educable?  I suspect that’s what you mean by “newbies”—the ones who can be shocked.  For Bitcoin newbies who have a bit more savvy, I’d prefer to educate them on how Bitcoin provides freedom, and why bitcoins are a fortune they should wish to leave to their great-grandchildren.

If you really think that we are in a giant bubble just like you are saying, why are you on a signature campaign? it makes no sense.

if you do not like cryptos, then what the fuck are you posting in there to get paid? You are just a scumbag.

you are an idiot if you think bitcoin is not in a bubble but you are an even bigger idiot if you believe what FUDsters are saying when they are talking about a bubble.

it is not even half as bad as they are showing it to be! they are ignoring all the adoption of past year and all the new people and all the money that has been coming in and close their eyes and repeat certain keywords such as bubble and Tulips...

What is this ' Tulips ponzi scheme bubble of the 90's',that you are talking about?

Hah!  Methinks the byword is, “Do as I say, not as I am paid to say in my signature.”

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I’ll take you up on that:  Please show me where I’m an idiot.  I think Bitcoin is not in a bubble.

This is not to say that the exchange rate couldn’t crash.  A large country could ban Bitcoin.  There are organized, powerful cliques continuing to attempt to wreck Bitcoin through a profusion of scam forks.  The mass media contain elements strongly opposed to Bitcoin; they’d love to find, twist, or fabricate some headline story which would scare the public away.  As all things of this Earth, Bitcoin has risks.

But there is currently no bubble.  A bubble occurs when false, flimsy demand is created by speculators, far in excess of real demand.  Whereas current demand is strong, even excluding the admittedly rampant cheap speculation; and most importantly, it is reasonable to expect future demand will exceed current demand by several orders of magnitude.

So—where am I an idiot?

(Here quoting the rest for context, so as to not misrepresent you.)

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I think he means Amazon.com.  Everybody knows that stupid “web site” will never turn a profit.  That whole “web” thing was a fad.

I mean it's not like I have anything close to a serious stake in Bitcoin but what if they just pulled their money, walked away, AND they're getting free tulips on top of it? I would be pretty happy with myself at that point if someone sent me free flowers on top of getting some easy money. The key is to not be greedy.
Can you sign me up for some? I'd love to get a basket (or something along those lines) of tulips one day. As a surprise, you know.
Also when was this '90s tulip ponzi scheme? You're off by a few centuries friend.

Sigh.  I explained this upthread:  OP is advising you that Amazon.com stock is Dutch Tulip Mania, by analogy.  If you bought Amazon.com stock in the 90s, then you are a fool and probably bankrupt.  That whole “web” thing is just a fad.  See how sound OP’s investment advice is?


Actually, this is a good idea:  We should all sign ourselves up to receive tulips.  With a bit of luck, this will cause a shortage of tulip bulbs.  Then, speculators will see the rising prices of tulip bulbs at market—oh joy, this promises to be fun!

..and the bubble is bursting and some people are still in denial mode (including me,may be !)
Let's sell our home,wife and kids ..do bottom fishing and buy lots of bitcoin...
cos bitcoin will reach $1 million by 2020 !

It is the wonderful time of the year-

Let it go ..let it go .. https://sendcryptopeopletulips.com