Bitcoin Forum

saw this and tried hard to not laugh.
http://finance.yahoo.com/video/snapchat-worth-3-6b-twitter-194015881.html

how on earth do people consider bitcoins priced too high now when companies that make no money or lose money are priced how they are.
i don't understand humanity or dinosaur investors.

Well, it's a similar mechanism.

I think "too high" to old users refers to the spike in price and not some arbitrary limit. To new users, from what I've gathered, the relatively high price of a single Bitcoin and confusion over their divisibility seems to scare people away.

I have a much harder time believing that any of those companies are actually worth that amount of money. It looks to me like they're vastly overvalued.

3.6 billion dollars for a chatbox? And they call this innovation. Come on.

Guessing you've never used Snapchat... it's a pretty amazingly designed application IMO and is an early frontrunner in lifelogging.

I'm there with you. What bitcoin offers and has the potential to do is unarguably worth at least Twitter.  Now, some may say that Twitter/Instagram/StupidApp isn't worth much in the first place but the all powerful market has decided that they are worth obscene billions of dollars so that line of argument is moot. 

I agree, it's pretty revolutionary despite how simple the idea is. Complexity does not equal value.

With all these flavour of the week apps...as soon as the tweens that use this shit move on to the next new thing they are forgotten and have zero value.
So, why give such a high valuation to something that isn't making money, and has no longevity beyond their user base's brief attention span?

It is stupifying to me that a company like google is buying a $100m company a week at the slightest possibility of new technical innovation and yet is resistant to the game changing idea idea of bitcoin. They could build a big position in bitcoin and open a world scale exchange in a week or two.
Is it because they think they are too late to the party? Or because it isn't innovative enough? or that they can't fully control it end to end?

I just don't understand it either.


 
 

those guys are 4 x the bitcoin market cap.

http://www.rovio.com

we are at the beginning of the "e" in early adoption

very good points. not sure about Google's lack of involvement but at least some of it's engineers are contributing on the side.

just for shits and giggles:

King, the maker of Candy Crush believes that they are worth about 4 billion.
(unlike the first two companies though they are actually making about a million a day, though vastly overpriced)

lol @ twtter ipo what a joke the stock market is

Pretty much every IPO nowadays is a pump-n-dump in disguise.

$3.6 BILLION valuation, and no plan on how to actually make money yet.   ::)

The "app" bubble.

lmao, remind anyone of the dot come bubble?

That said, shut up and take my money.


EDIT: How in God's name could snapchat (Was it snapchat?) be worth anywhere near that? The only way I can see them ever making money is by advertising on phones, and while teens are snapchatting fap pictures back and forth, I don't think they'll be focusing on the ads being displayed. When there is a pic of your cheerleader classmate banging herself silly and you only have 10 seconds to memorize that image or find a way to take a screenshot without them knowing - IS ANYONE GOING TO LOOK AT THE DAMN AD BAR? NO!!!! I'd doubt if the entire network over years would net 3.6 billion to the advertisers. Sure it's a popular app with a lot of downloads, but it'd take quite some time to show a legit valuation of any number of billions, and this type of stuff is as fad-ish as it comes. It'll be dead in 2 years, replaced by some other "cool" app.

Their best chance of earning that type of money would be to put a wallet stealer in the app... wait... said too much already. Don't want to give them any ideas.

Worse still, how on earth I am going to believe it's "burn after reading" after seeing an ad that's specifically targeted at me based on what  I am receiving daily?

HA! Yes. "Enjoying Snapshot? Want to see more photos of Tiffany naked? Only $9.95 Click here!"

EDIT: I guess some ads might be effective. Above... as well as "Want to save snapshot photos without sending notifications? Click here!"

At the end of the day people like buying into hype and popular things.  Unfortunately, bitcoin isn't quite there on the popularity index but has been hyped by the press.  It's only a matter of time until the market capitalization of bitcoin surpasses both because of its uniqueness and far greater uses.

fb offered 3 billion for snapchat
http://www.usatoday.com/story/tech/2013/11/13/report-facebook-offered-snapchat-3-billion/3517929/

wtf is wrong with people. if snapchat is worth anywhere close to 3 billion, and twitter is worth 20 billion (supposedly) than bitcoins are worth 10 trillion at least, even today!!!!!

i also predict that 2014 will be the year of social media implosion where stock market especially social media ones will go to shit.
fb at 50 billion, twitter at 3 billion, snapchat at 100 million. fucking joke this is, i swear. i wake up sometimes and think that someone is playing a joke on the world.

people never learn: bebo, myspace, groupon, livingsocial, renren, friendster

rest in peace crazy valuations.

Maybe on the Snapchat message boards they're all wondering, "WTF is this bitcoin bullshit? How can that have a market cap of $4 billion? The only thing anyone uses it for is to tip reddit users and buy subway sandwiches!" Just because you all fail to recognize the utility of it, doesn't mean it's worthless. We may be on the forefront of the digital currency boom, but the fact is that Snapchat likely has larger user base than bitcoin. lol. I'm not knocking bitcoin, I love it, but there's a lot of doubt still as to whether people -- on a wide scale -- will be willing to use bitcoin and make it a success.

We're the new wealthy elites. In 5 years everyone on this board will have a fleet of yachts!

I think Twitter's valuation will be proven, eventually. Twitter is a great (ie, useful) platform that likely has staying power. Much more proven than SnapChat, and targeting a stickier userbase too (ie, twitter is professionally useful and has a wide demographic). Because it doesn't make money now is not all that relevant. They'll figure out how to monetize it. People were lambasting Facebook's $10B private-market valuation pre-IPO, when they had almost no revenue, and now those prices would be a fantastic deal.