Bitcoin Forum

We are a part of the Crypto bubble the internet bubble 2.0

Crypto is following the same trajectory of the internet. The internet was created and then a couple years later start ups started to pop up.

Bitcoin was created then a couple years later start ups are starting to pop up.

How big do you think this bubble will get?

Only time will tell I guess but Bitcoin has a big expectation by a lot of people and I'm not quite sure that it will live up to those expectations. but like I said only time will tell.

Only here does it seem like that.. Most people think BTC is a made up valueless peice of something they don't understand that hackers will "print" billions into existance of.

I think 1 mBTC will be worth 1 million during the peak of the bubble... Things will be bad.

in time bubbles will be denominated in BTC

so think big, really big

8)

You know, I remember when Bitcoin first broke $100 each, and most folks thought it had peaked. Many early investors were gleefully selling thinking they had finally hit the jackpot. That's the smaller red box on the left, now...

Big. I expect this pattern will repeat itself many times over the course of the next two to three decades. It will continue to do so until fiat money is little more than distant memory - a bad joke.

https://i.imgur.com/FnJShDU.png

Once humanity is looking at money through the lens of an true, honest-to-goodness consensus-based decentralized currency, we will look back in wonder how anyone tolerated the scam that is nation-state fiat scrip (https://www.youtube.com/watch?v=iFDe5kUUyT0).

Give this a watch (https://www.youtube.com/watch?v=Bhe61JaNFLU) if you want to learn more. And this - Bitcoin the organism (https://www.youtube.com/watch?v=vaPgfErzeu0).

I'm assuming you are speaking in terms of BTC/USD. If so, then $1B per BTC would be pretty damn crazy.

I mean, this implies that the overall market cap would be $21 quadrillion. Not even the entire world's M3 supply comes remotely close to just $1 quadrillion. So, we'd be in insane hysteria land at that point. Not sure if that's a good thing, but at this point in time, it doesn't.

what if bitcoin stays the same price but investment bubble happens only to bitcoin related companies?

just kidding

$25k to $50k per coin is as far as I allow my imagination to take me
I agree that some of the more optimistic scenarios are a real stretch of one's imagination

I still can't imagine it going that high. I think I could accept it going to $5k-10 but don't think it could go any higher than that.

Oh! HSoM! Good to know I'm not the only one watching that!

I fully agree with you, though, in the future, when we may very well finally be free from central banks (And most banks overall) we'll look back and ask; "We lived with WHAT?"

At least we'll have good stories to tell about how we were the earliest people to push for decentralization...

The Eternal Inflation Theory suggests that our Universe is just a bubble in a whole froth of Universes. The real question is whether Bitcoin resides within or outside this bubble.

https://stripe.com/blog/bitcoin-the-stripe-perspective

Important article that provides some perspective on this

it's quite ridiculous to insinuate that 1 bitcoin will go for $1 billion dollars. seriously, all paper currency would have to no longer exist for that to even be a remote possibility, and then some more. that's probably more than the the whole assets of the U.S.

if there are 12 million bitcoins now, then that's 1 billion x 12 million. this is bias bitcoin evangelism here.

I think we are in the early adaptors phase. I mean, still today, many people have no clue about wallets, bitcoin transactions etc..
New technology is generally adapted slowly.. it took a while until there were lightbulbs in every house hold, it took a while until there was a train network in the US, I think the same applies to cryptocurrency. Such things never happen in an eye blink, in a few years I think bitcoin market will be 4 to 10 times the current size.

we are moving towards singularity though. how long did it take for the internet to become ubiquitous? what about facebook? i know bitcoin is not the same thing as facebook or the internet, but we're talking about mass adoption here. i don't think bitcoin can grow as fast as facebook or the internet, but it can still grow faster than we expect.

Get out while you can.

Depends how many transactions daily Bitcoin can include, the interesting thing is we are still far from 1MB/block limit, so Bitcoin is hardly stress tested to get idea if it can be scaled to worldwide use like credit cards

In my head I have a not very scientific model that only takes into account one thing, savings.

In that unscientific model I imagine what would it be like if we had 21 million people (of the 4+ billion there are in the world) that want to have 1 BTC in their savings portfolio.

I then apply supply and demand to my unscientific model and blow my mind :P .

Neil

Man, the way you say that implies that you believe Bitcoin will face a similar fate like the Internet bubble! It may be devastating! On the plus side: We're investing in a technology here not in a single company that may or may not actually live up to their promise. Just don't get distracted by all these altcoins!

You seem to be very focussed on this 'bubble' thing.

Do you realize how HUGE the internet has actually become? Like, an essential part of our every day life that our society and economy can't do without anymore? I wouldn't call that a bubble.

Yes, there have been some bubble movements in the early days of internet, and similarly now in the early days of Bitcoin. No big deal. Sure there will be a few bumps further down the road, but the road is going in the right direction* nonetheless.

_{(*to the moon)}

The internet bubble caused temporary economic devastation however it did allow a lot of infrastructure to be build so that a lot of technology could be developed 

Based on what?   Your imagination?  Or actual price modelling and economic data?

You'd be surprised how many people know about about but just don't care.

I think the people interested in bitcoin heard that someone made a ton of money.  Its similar to 2000's tech bubble.  Only a few companies of that era kept going til today.  Most of them went bust

It is literally a shot in the dark to try and predict anything at this point. If the dollar collapses as some predict bit coin could explode over night. Draconian laws or regulations could slow growth to a crawl. We could get months of good news and the price could refuse to budge for some reason.  :-[

I love these types of threads. It seems to me that the masses have yet to truly catch on, but for a lot of people the incentives to do so just aren't there yet.

The bubble can't deflate significantly until it has its own "51% attack" (more than 51% of the investor scene realizes they are in a bubble).

Chart reading is definitely an art... My suspicion is that QE threw TA out the window, as far as relying on classic investor psychology to predict price movement of stocks and bonds is concerned.

But when it comes to bitcoin, thats a whole nother story. And it looks to me like we are consolidating for a new leg up in the next month or so.

Just my guess.

From the recent price movement the price of BTC is reasonal, and not depart much from its intrinsic value. In 2013,　the price reached to $1000. The speculation in China is crazy. The government wouldn't just sit around, they oppressed the speculation.

What bubble is the OP talking about? The value of bitcoin is minuscule compare to even a potential 1% of world currency usage? With big companies like DELL starting to recognise Bitcoin I wouldnt be surprised if Bitcoin wasn't at the very least 10% of global commerce in say 5-10 years. Throw a currency collapse into the mix and you got One a bitcoin valued at $50,000 without any sweat.

Of course a bitcoin might not go mainstream but many signs are starting to look like it is.

Hello newbie here :)
I have just bought my first bitcoin from bitstamp.
Should I keep half as bitcoin and split half across altcoins?
Which altcoins should I buy and where?
Thanks for help in advance :)

i guess first to da Moon and then to daaaa Mars  :P


@BitcoinSquid


dont buy any altcoin yet. just learn about bitcoin first.

i would suggest 70:30

i.e bitcoin 70 and altcoin 30

as big as the money bubble.. ?

All I know iss this. I am putting every last penny of fiat I have into bitcoin rather than saving for a much bigger house we need for my kids :)
Nxt coin are going well at the moment and pushing it like m,ad. There is no stopping them.

It's merely a technology, that's the thing that makes me optimistic in this case. The Internet bubble also saw a lot of companies that actually made it! As long as you invested in the Internet itself, you won. With bitcoin this is even easier!

We already have had a month of good news recently and it has been the same. I know it and I can fell it that a boom is coming soon. I emptied myy banks to my over draft limits and bought bitcoin as I know something is coming soon.

Obviously I have a very good job and can afford to empty my bank account for this. I would not recommend getting into debt you cant pay back.

So did you actually go into the red numbers for this? I mean going all BTC is very risky, but if you have a well paying job and can afford a loss of principal, you may just give it a shot. As for the dollar being destroyed by Bitcoin... I highly doubt that! Also I don't know if an apocalyptic wasteland will resort to Bitcoin as their currency...

This month on the red yeah I bought 10. I can pay it back next month though and go back to buying my 1 pew week :)

Alright, just make sure to not borrow money from people. Keep in mind that this experiment can still go very wrong!!! Failure is always an option! Be careful and secure your Bitcoins!

I too am all in on Bitcoin (as well as my overdraft).  I started my business while I was in debt, and have no intentions of paying it off until the next bubble.  If Bitcoin fails, all I have lost is time and opportunity cost

100K easy

1M each is not out of the question.

I mean the worlds largest company is 10T and it only pulls oil out of the ground

BTC is the whole damn money side of things so 2.1~21T sure ok.

the stronger BTC gets the more chance to do this as more value money on the table to do things with.