Bitcoin Forum

"She's going down by the head cap'n". Check this out comparing btc to the South Sea bubble. South Sea stock had a meteoric rise like btc and promptly fell 90%.

http://www.mebanefaber.com/2013/11/26/bitcoin-vs-south-seas-stock/

Waiting for $100 to buy some btc yip yip

You mean that you can find things that failed their adoption curve?  No way...

yeah funny that the author put two graphs that don't look similar at all, besides that both are of growth, and concludes things from that :)

take any exponential graph now, for example - number of people on earth - it would be even more similar!

but nobody is running around crying "humanity is doomed". well, some crazies are, but the general consensus is it will last a while, given food production advancements...

Actually, he liked that the "price" was the same.  Especially that it crashed right after $1000.

You know, I'm gonna say that if 50 countries went bankrupt simultaneously that bitcoin might not fare so well either.  That's kind of the way it works with things that aren't a necessity in hard times.

wha happened to the crash. which sons of biscuits is buying? caveat emptoris! who is buying now is going to lose big.

Bitcoin is definitely a stock so this is an apt comparison! Good job OP you are a bona fide genius!

Good god that's the dumbest graph overlay I've ever seen.

I thank ye, though you mistaken bud, btc not a stock but its a bubble all the same. this gig is like side of a snow mountain, somebody yodel loud enough and avalanche!!

OP is so smart he doesn't provide proof or any argument whatsoever. All hail OP!

Tulip bulbs, Ponzi, bubble, bubble, bubble.  LOL

So what low price did you sucker yourself into selling at? Under $1000?

I sold out at average $150 I think. that's why i need 100 again to buy back in  :P

OMG Why didn't you realize the folly of that and buy back in at a small loss, say around $200, when it was becoming clear that the train was leaving the station?

$100 is just a pipe dream now. Even if it goes parabolic to the point of a June 2011 or April 2013 crash, don't expect the price to fall much below $500 even in total capitulation.

Today might have been your last chance under $1000 for a while.

dude, when I sold I thought it would never go back above 250 again for a very long time, maybe a couple of years so I took my eyes off ball. when i heard it was over 500 i started getting back again but it too late by then   ???

i can't bring myself to buy at 1000, put yourself in my shoes bud. so i need one motherfudger of a crash to happen. I will be ready with my cash. after that its to da moon for all I care :P

All is not necessarily lost.  One can buy in now since the price will increase.  Just dust yourself off, pick yourself up, and get on this train before you're left behind it as well. :)
 
I sold early (to trade/buy crap) back in the $5 days, and even the $50 and $100 days.   But I'm buying back at current values because we'll see values above $10k some day.  Don't lose your cool now, get back on board! :)

Yeah? I'll be buying them back at the same price, you son of a baker  ;D

And that's this thread in a nutshell!

Thanks, OP. Interesting read. I agree with the sentiment that it's not particularly fair to overlay the two graphs (but not because one is a stock and the other a store of value) but the author acknowledges as much. It is a clear reminder however that speculative mania can lead to strong crashes, which I think everyone on this subforum needs a reminder of now and then.

I almost mapped Bitcoin to the South Sea graph myself - just for fun, but this lady beat me to it. Its just a conjunction of an arbitrary number in mismatched currencies, no more.

It is worth noting though that the South Sea bubble numbers are British Pound Sterling.  In today's money South Sea stock was trading at about £70,000 (over $100,000) when it crashed by about 90%.  Also worth noting is that the event that precipitated the crash was the discovery that the owners had lost all faith in the venture and dumped their stock, not some news that the South Sea company was badly managed and prone to cock ups which it was.

And so you decided to start this thread and thought people will now start panic sell after reading it and you can buy @100$?

https://bitcointalk.org/index.php?topic=355406.0

If people panic that's your own busness. I call it as i see it, after every bubble there is fear. don't forget everybody at the end of the day is looking at their stash not in terms of btc but in terms of the hard readdies. no need to give me i'm holier than you because you are an idealist, you innit for the cash as well as the rest of us mate :P

It's never too late to buy and hoard. Sure, it would have been nice to get coins for pennies or a few dollars each but those days are gone.

When coins are worth over $10k or over $100k each, quibbling over having paid $100 or $1000 will seem as foolish as worrying today about having spent $.01 or $1 a few years ago.

One of the best quotations I've gleaned from this forum is, "The best time to plant a tree is 20 years ago, the second best time is today".

If ever...
How should it work without enormous amounts of fiat money?
Only way is to tell all, that they should never sell -> just like a card house... if you pick the wrong card -> CRASH!

I'll post here to tell you in 2-5 years, when bitcoin is history and lots of lifes are destroyed due to poor decisions (bitcoin loans, ...). History repeats itself. Funny to watch. Greed has taken over.

The enormous amounts of fiat money would be from institutional investors and major players. Right now the entirety of Bitcoin is less than chump change to any of them.

Making the transition from a market cap that entices enthusiast investors to professionals is where things might falter.

If it can't make that leap then it most definitely still has a future, perhaps a 'purer' one, but it won't reach the serious figures being thrown around.

@gentleman, we are long way from insitituional investing. believe me brah, it took like 20 years before institutions started believing hedgies were safe enough to put pension money in. btc, with all the government smakcdown? not any time soon mate. the trustees don't want to risk gaol time.

i got btccharts up on a screen, this is exciting I wish i had some popcorn. i still belive we are on a -90% correction. i can feel it in me joints. get out ye bulls before the market hands yer arse on a plate to ye.

look at the chart, its fudging epic indications of meltdown

on the sad side, i think this bubble has a chance to destroy bitcoin :(

I can see you don't want Bitcoin to succeed.  :'(

you know nothing about me mate, i just want to buy back in at 100, i told you that before remember?

Like the last one, and the one before that?  I suppose it does have a chance to do that, sort of like I have a chance to guess at random a brainwallet passphrase that gets me all of DPR's buried loot.