I am beginning to lose heart.  My friend said it is a bubble.  Because people put money in and the bubble grows.  Somebody else takes that money and makes a profit.  So the bubble shrinks.  And the first person loses out. 

A friend of mine said it is a Ponzi scheme.   I am beginning to think so too with all this talk that people must put lots of money in and never take there money out even when the price goes down.  So what happens to that money.  Somebody else will take it out. 

People who bought at a very high price have lost there money.  That is a shame.  Who has all this money.  I think they should pay it back.  But they won't. 

But what will happen if everybody wants there money back.  Will there be enough money to pay them all back even if the price goes down. 

What is happening next.  It is just too risky for most people at the moment.  It's all very well to say don't panic.  If you are about to lose your house or life savings of course you will be in a panic. 

If Bitcoin is going to be limited always to 21m coins that will be nowhere near enough to go round to everyone in the world.  Which would mean there will be a few faceless whales at the top controlling everything.  Even worse than the banking system now.  And everything a big secret.  It's all gone wrong somewhere and I've lost my faith in Bitcoin.

It seems like money from thin air.  That people can buy so cheap as a few pence and then years later they can sell for even 20k.  That is quite a miracle where all that money has come from. 

If you want to invest then invest now.  Don't wait till the price shoots up and then think oh I better invest.  It will then be too late.  If the price is under 10.5k then it is OK to invest.  But not when the price goes to 20k and then buy and lose money.  I thought the price would go down more but I was wrong.  but it's only guessing.

It would be a very bad idea for people in those countries to get involved in Bitcoin.  They have only a very little money as it is and they should not lose the little money they have.  It would be really irresponsible to promote Bitcoin in those countries as some kind of get rich scheme.  Because a few people might get rich but others will lose all their money. 

There is no point in holding Bitcoin for a long time. Because all you do is to let others make a profit from your money.  I think to buy when price is low and sell when price is high.   And then do this again next time.  If you don't then it will be other people getting rich from your money. 

The whole thing is a complete mystery to me.  I think I am giving up on Bitcoin.  It's too confusing.  And when I read topics like this it really does my brain.  That is why people are losing trust in Bitcoin.  Two many secretive things.

It has gone up again so that will be a relief for many people.  But I was wondering what would happen if everybody wanted to sell and the exchanges for Bitcoin ran out of the money to pay them.  Or could that just not happen?

I am not too worried because I only have a very little Bitcoin.  But I am worried about people who are losing a lot of money.  It is very frightening when people are talking about selling their house to buy Bitcoin.  I truly hope nobody will do that even if the price goes down a lot.  I will buy some if it does.

I think those rich whales should set up a fund and give to those poor people who have lost a lot of money.  Why don't they do this.   

I notice quite a big drop in the last few hours.  Is this just a short term thing for a few hours and it will pick up again back to normal.  Or will it go much further down into a big crash.   

People want Bitcoin because they see some have made lots of money from it and they think they will do the same. 

I think I would buy some gold and some Bitcoin.  Gold is nice to have and to look at.  And it will never lose it's value completely. 

I think if I had to guess that a big crash is coming soon.  Rather than a big leap upwards.  And in a way that will give people a chance to get cheaper coins who missed out before.  If there is a crash it will come when folk least expect it so some that are in the know can get out quick.  Which is not me. 

It went too high too quickly.  I am waiting for a big drop so I can buy and make some profit.  And then a lot of people can buy and have a chance of a profit.  Not just whales. 

I feel very sad that people have lost a lot of money in this last Bitcoin rise.  Who has that money I wonder.   People who sold out smart and told others to hold as the price would go to 100k.  Well it didn't.  I will only buy Bitcoin now if the price crashes again.  So at least it might go up and not just be steady for months.  Some other people should get a chance to make a good profit.