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Author Topic: Will the bubble burst?  (Read 4675 times)
martinm
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April 12, 2013, 03:24:50 PM
 #101

All bubbles burst. Know the signs... I would say we're in the "Enthusiasm" or "Greed" stages.


Thanks for reviving this thread.
I was trying to find this pic.
CAPITULATION phase?

Going from only my recollection, BTC is following this path to a 'T' (if that is the proper term)


Interessting picture, but the mean is still difficult to define especially Bitcoins are something that newer existed before. Bitcoins are currently under evaluated, even it looks currently like the price was corrected by the market.
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mightyb
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April 12, 2013, 03:30:38 PM
 #102

It will settle soon. www bubble took much longer to develop and burst. Bitcoins is a sped up bubble.

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saigo
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April 12, 2013, 03:31:24 PM
 #103

All bubbles burst. Know the signs... I would say we're in the "Enthusiasm" or "Greed" stages.


Thanks for reviving this thread.
I was trying to find this pic.
CAPITULATION phase?

Going from only my recollection, BTC is following this path to a 'T' (if that is the proper term)


Interessting picture, but the mean is still difficult to define especially Bitcoins are something that newer existed before. Bitcoins are currently under evaluated, even it looks currently like the price was corrected by the market.

I'd say denial or bulltrap area now..

Saigō Takamori : ( 1828 – 1877) was one of the most influential samurai in Japanese history. He has been dubbed the last true samurai.
Larynth
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April 12, 2013, 03:38:21 PM
 #104

The cause of the meteoric rise may have been media publicity, but the only thing stopping this from being mainstream is a legitimate exchange on US soil. Say what you want but people just don't trust sending their money to the "36th bank and lack of trust of Slovenia". Enter stage right coinsetter.com and merchants will jump on board. Once the merchants know they have a reliable, instant method of converting bitcoins back to fiat they will line up to start taking them.
LacSplashdo
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April 12, 2013, 03:38:45 PM
 #105

Personally I think it will recover alot
brett1968
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April 12, 2013, 03:56:35 PM
 #106

I'm not so sure the term "bubble" is a good one.

Since Bitcoin is so many things - currency, commodity, payment system, protocol, internet money -  you can't make direct comparisons with say; the real estate market or the gold and silver markets.

IMO Bitcoin has several of the qualities of an Internet startup company with new/revolutionary technology. And some startups just keep gaining value until they are multi-billion dollar companies...

The fact that valuation is rising fast does not necessarily imply that there is a bubble.

  It seems the current problem with BTC and what's driving the price down is a loss of faith by the public in general in the currency which is due to the inability the brokerages have shown in being able to handle a huge amount of trade.
   They've discovered that it's not water tight and everyone but the hardened speculators want out before the thing goes back to 13.85 where it started this climb back in February.
   It's a pity that these 'one man band' operations have created a titanium needle for their bursting of the 'bubble' since it could have been strong enough to withstand the sudden global surge of investment capital that it was raising when it 'blasted off' in value two weeks ago,
   The major brokers were so swamped they couldn't handle people's requests for funds and this was perceived as as failure. probably true given the Ddos attacks on Mt.Gox and probably the same on nearly every other exchange worth mentioning, all of which showed themselves as just a bunch of amateurs.
   'Mt.Gox has utterly proven itself a mountain that doesn't really exist even in cyber space, they couldn't get the rocks piled up quick enough to stand above their circumstances. The first part of this statement is ironic, since the subconscious psychological image presented by the term 'Mt.Gox' implies that it has the nature of a summit, an impenetrable stronghold and some sort of fortress composed of a mountain (implied to be 'golden' from the first two letters of the word 'gold' and the letter 'x' added to denote an exchange. How very far from the truth this now looks.
   The future place that BTC will inevitably hold in the global economy can only be achieved when the so-called major players in BTC brokerage can prove they're technically up to speed and as safe as an actual physical oz of 99.999 gold when 10 billion dollars appears in their bank accounts from  buy order investors and in a day they can process 20,000 new account orders and still get a lunch break.
   Obviously, these days are not here yet and it leaves me to ponder this question, did the well conceived, concerted Ddos effort to quash the exchanges abilities to cater to the needs of new buyers occur in order to deliberately devalue the BTC and cause it to slide out of public favor and, was the source of these attacks not so much 'rogue' forces attempting to deliberately manipulate markets to make for themselves a shady profit, but some high level hacking by those administrations within the G8 who saw the potential for the BTC as a new alternate currency over which they had no real power?
   Perhaps inside the TOR network might be the safest place to put the next 'Mt.Gox'? That is, if the major banks of the world (in partnership with the G8 and under a contract with clauses where the ownership of BTC is regulated to include full and open disclosure to those governing bodies of the identities of those who are purchasing BTC and also with the inclusion of equally mandatory, conditional requirement to allow the tracking of the detailed market movements of every BTC)
   I wonder if they aren't already arming their IT departments amd the world's largest supercomputer to assist in vending the BTC as the future 'media ordained' 'safe' brokers and take full advantage for themselves of this inevitable slide away from the world's ever crumbling hard currencies?
chip1
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April 12, 2013, 03:59:16 PM
 #107

Pop!
Larynth
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April 12, 2013, 03:59:31 PM
 #108

Read the news man coinsetter.com The legit exchange is on it's way will be here in no time.
erschiessen
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April 12, 2013, 04:04:08 PM
 #109

I'd say denial or bulltrap area now..
At what value would you place the mean?

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NillZok
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April 12, 2013, 04:08:23 PM
 #110

Seeing ppl at work stopping to actually work and speaking only about bitcoin...... i just hope the market will stabilize soon Smiley productivity will rais and will be able to use bitcoin again in more calm way Smiley
markymark
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April 12, 2013, 04:16:18 PM
 #111

I'm sure this has been said before, but the amazing thing here is that we are still in the infancy of cybercurrencies and as bitcoin gets harder to mine, and more attention stokes demand, the price will ultimately go up. yes, there's a lot of volatility now, but that's just because the market is still in it's infancy.

Hang onto your BTC for 5+ years and you'll make a killing. My opinion.

ripple
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April 12, 2013, 04:42:03 PM
 #112

I must thank the bank for their crappy service saving me from the the bear slide!

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jquinn
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April 12, 2013, 05:09:43 PM
 #113

I expect there to be ups and downs until the currency gains broader acceptance amongst merchants. It will take a few years to develop, but I say hold on to those BTCs and accumulate as many as you can! I wouldn't be surprised to see BTCs hit 1k or even 10k at some point in the future.

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BarryB
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April 12, 2013, 05:14:26 PM
 #114

The bubble will burst. Not because this isn't a feasible idea, but because greed based on speculation alone will keep the trust level at a very low level.
gibtrader
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April 12, 2013, 05:14:43 PM
 #115

I bought 2000BTC back in May 2012, part sold all the way up to $200, where I sold the remainder. Netted me a decent return hehe.

just joined to say that - im off now to house-hunt (seriously!)

oh, and to get the notaried/apostilled docs off to mt gox so they can give me my fcking money!!!


bye all.
Torrerre
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April 12, 2013, 05:20:56 PM
 #116

Just wait until Spain and Italy go the way of Cyprus, there will continue to be more bubbles and bursts.  There are people who will actually need to send their money out of their country without their government knowing it.
saigo
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April 13, 2013, 12:38:50 AM
 #117

I think the next bubble might be in XRP ( ripples ), they seem to have doubled in price in the last few weeks

Saigō Takamori : ( 1828 – 1877) was one of the most influential samurai in Japanese history. He has been dubbed the last true samurai.
Compeek
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April 13, 2013, 01:00:54 AM
 #118

I think there is still enough enthusiasm and support for Bitcoin that it will continue to do well for quite a while yet. The price is back up to where it was a few weeks ago and seems to be holding steady, so I think the worst is over for now. Whether Bitcoin will last longterm is of course unknown to anybody, but I see no reason it won't keep chugging along in the short-term.
WSwatch
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April 13, 2013, 01:48:29 AM
 #119

The price drop over the last couple of days was nothing compared to what happened earlier in bitcoin's history when it went from 30-ish to around 2. If bitcoin can survive a 93.33% price drop, it can survive going from 260 to 55...
WSwatch
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April 13, 2013, 01:53:29 AM
 #120

The price rise of Ripple relative to bitcoin may have been caused by recent news that they closed the round of angel VC. It hasn't really gone up much (yet) versus USD. What are the prospects of Ripple going forward? That's the $64 million question.
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