Is it ok to celebrate at $250?  Hell Yeah! Looking forward to $1000 $1000 will not happen. EA's will start dumping and cause a hug panic and correction well before. I think it's probably starting around now. Willing to put money on that?  No |
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If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....
That would be the end of bitcoin. |
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Is it ok to celebrate at $250? Hell Yeah! Looking forward to $1000 $1000 will not happen. EA's will start dumping and cause a hug panic and correction well before. I think it's probably starting around now. |
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Why are there so few millionaires investing in Bitcoin? Millionaires are rich because of their smart investments. If Bitcoin were such a great investment, we would expect more rich people to be attracted, right?
Bingo. Bitcoin is too risky for serious money right now. |
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 I think the bubble is popping right now, or on the verge of popping. Lots of money leaving the system. The "bubble" bubble will continue on for a while after the bubble, however. |
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I always suspected Max Keiser to be a bitcoin pumper. Now I'm sure of it.
This |
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 Today in bitcoin: $3 million appeared on the order book, and then $3 million went away. Seems like lots of people are cashing out. It's only a matter of time before USDs on MtGox are overwhelmed. |
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I think we'll see the result of what you've described we'll before $1000, and it will end up being the biggest catastrophe in bitcoindom to date.
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Great first show!! Two suggestions:
1. Make it weekly instead of daily.
2. Please add it to Stitcher Radio: that's the app we use to listen to all our podcasts.
Thanks, and keep up the great work!
I'm curious to why you'd want weekly instead of daily? We're planning on having a weekly show also, but the focus will be more on new users and introducing new ideas into the bitcoin ecosystem. I will add it to sticher radio, I have an unreal backlog of things to do - The editing schedule for these early daily shows is absolutely brutal. If I was paying myself, we'd be broke. Two reasons to make it weekly: 1. For you. So you don't burn out by having to produce a daily show with new content every single day. Your editing schedule is already brutal. Doing a podcast is such a huge task to conquer every single day. Plus, you can build up a much greater variety of topics by waiting to collect a week's worth of the most important & most exciting news about Bitcoin. 2. For us. A weekly show is more special & more newsworthy than a daily show. If it's a daily show, by necessity, we'll only be able to catch "some" of the episodes, because we just don't have enough time in the day to squeeze in an extra 30-45 minutes every single day. If it's a weekly show, it becomes a real event that we can schedule around and look forward to. Just my two cents! Either way, great job with the first episode!  +1 |
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Here, let's try this: I just made 21 quadrillion of each of these: proudhon coins, ferklecoins, flapjackcoins, guitarcoins, carcoins, coincoins, moneycoins, and bitbitcoins. Therefore...[fill in the blank]. |
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"While gold is designed so that it cannot be hyperinflated in name, it certainly can be hyperinflated in substance. Already, there are numerous knockoffs such as platinum, silver, and copper in place."
Gold is being durable, amalgamable, malleable, divisible, homogeneous, rare, easily recognizable... Bitcoin and other cryptocurrencies are more or less clones. Different metals are not. Different metals have different properties. Different cryptocurrencies have different properties. Bitcoin has the property of having been the first. That's apparently a big property for this sort of thing. In any event, you and I both know bitcoin is in a massive bubble that will eventually pop and bring the price back down to the single digits or lower. When that happens, my offer still stands, I'll give you 10 billion Proudhon coins for 10 bitcoins. |
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USD is backed by debt and force. Otherwise I would agree - paper notes qua paper notes have no objective value as money.
I didn't make any claims about what it's backed by. I doubt the man on the street has in his mind things like violent government force and debt backing when he buys USD. Rather, I think most people do what they do with money, USD in this case, because other people do it. |
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Moreover, gold has a lot of advantages in comparison with other metals, while the bitcoin seems to be more or less similar to any other cryptocurrency.
Good point. I'll give you 10 billion proudhoncoins for 10 bitcoins. Just for fun. Yes? No. Since there is a bitcoin bubble now, driven by a lot of stupid people hoping to get rich, I'd rather have the bitcoins People buy bitcoins because others buy bitcoins - not because they are inherently better than other cryptocurrencies or because they have any objective value as money. That's my view. And people buy USD (with their labor and goods) because others buy USD - not because they are inherently better than other pieces of paper with printings on them or because they have any objective value as money. No? |
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Moreover, gold has a lot of advantages in comparison with other metals, while the bitcoin seems to be more or less similar to any other cryptocurrency.
Good point. I'll give you 10 billion proudhoncoins for 10 bitcoins. Just for fun. Yes? |
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There can be as many things of the type "cryptocurrency" as can be imagined, but there cannot be more than the specified number of tokens of any sub-type of cryptocurrency. In any event, there's no reason this criticism wouldn't militate against ordinary fiat, or gold, for that matter. Since the type of thing ordinary fiat is is paper notes, and anyone can create any number of paper notes; but it's very difficult to print token notes qualitatively identical to, say, modern US dollars. And gold is a type of metal, but it shouldn't be worrying to the value of gold that there are other things of that type -- metals -- that are more abundant than gold. It just happens that history has given bitcoins a certain perceived value and it isn't possible to pass another cryptocurrency (a litecoin, say) off as a bitcoin. |
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I expect a pretty devastating crash to materialize ahead of this. Then, once a robust and trustable shorting market is up and running, the price will continue even lower. Eventually the price "stabilize", though much, much lower than it is now, and upward and downward movements will be smaller as a result of margin trading. |
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Much agreed! Only 13,000 BTC to $300! We could hit it today!
13,000 to $300 is not the same as $13000 to $200, or $100, or $50, etc... |
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Posted about why this is an increasingly disturbing situation that will probably be disastrous for bitcoin.
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This is nothing to be excited about if you're interested in the long term success of bitcoin. This just means that the coming collapse will be even more catastrophic. The higher the price goes, the less likely this project will survive the collapse.
If it's a 90% drop like the last bubble we'll still be at $20. All good. All good for you, but a catastrophic loss for most everyone else, and it will turn potentially millions of people off this idea. |
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