Bubble Trouble, or is it?

[Operatr]

In all likelihood a speculator driven bubble, yes this is a massive bubble that will probably crash soon enough...my bet would be on that scenario like it is for many others if Bitcoins past is any indication.

But, what if it isn't a bubble? The only way I can see it is if this is only the beginning sign of the world waking up to Bitcoin and it's potential. In a world where your bank can simply seize your money if they want or simply fail and take your savings with it, and a pending total failure of the world's economy, people want out desperately. Name me one currency or asset other than Bitcoin they can go to that is appreciating and not riddled with policy failure and imminent full-tilt collapse.

 BTC may be inflating because Regular Joe no longer trusts his bank and is moving what he has left into Bitcoin as the only legitimately growing, debt free, hard backed economy that no one entity has control over. That is comforting to me after getting bank-raped in the past. Those poor souls in Cyprus know it. I know it too which is why I am indeed hedging my bet for Bitcoin being the future of the world as the past one finally breaks down for good. More and more people are turning to Bitcoin and feeling the same sense of financial liberation we do, and it feels good. This is only a bubble if everyone pulls out. But it begs the question, pull out to what? The Failing Dollar, Failing Euro, Failing Yuan, depreciating Gold? Stock Markets that may not exist in a year? Industries that may all be underwater soon? There certainly are just speculators trying to make a quick buck before it all goes down in flames, but I think most see Bitcoin as much more than that. It is a new ideal, a new movement, a protest against government greed and corruption, a middle finger to the banks, real crypto-anarchy in its finest form. Everyone who puts 1 red cent into Bitcoin is telling the old system "go f*ck yourself we'll make our own, thanks for nothing!". Bitcoin enables us to reclaim our wealth by pulling the rug out from under a failed world standard and reformat it systematically back a backed, debtless, fair market economy that no government can manipulate to their will and crooked agendas.

It gives us all an option we never had before and I think people are starting to see it despite the hype and hinder with the new wave of media reporting in relation to Cyrus. We can simply go around the governments and banks with Bitcoin and leave them in the dust to wallow in their worthless home currency now. At no point in history could Americans just go around the FED like this by establishing our own currency standard. The People's Money. Take control of money back by forcefully divorcing it from the Government and other central control.

Of course the real thing is much more complicated than that and will absolutely run into opposition eventually. The FED doesn't like anyone eating its sack lunch...

Bitcoin has the power to change our world, and I feel it just may be instrumental in our salvation after the looming Financapocalypse.

Bubble or the beginning of a massive currency shift from scared (and they should be) citizens...we shall see

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[conspirosphere.tk]

But, what if it isn't a bubble?

Indeed: it's bubble babble.

[Stunna]

I honestly think bitcoin is worth the price but what concerns me is the extremely quick growth in price, if this isn't a bubble I don't know what is.

[glendall]

I hope bitcoin doesn't continue it's meteoric rise.  I hope it stabilizes a bit while the infrastructure and support for the currency grows. .. And then slowly raises for a long time

Sky-rockets lead to crash landings a lot of the time.  But it is true that Bitcoin is a different breed of beast altogether, making predictions even more hard than it is for the usual kind of stocks and goods that can be bought.  Bitcoin is an entirely new kind of resource that still has to grow stronger roots in our bloated world corpse of an economic cluster**** before it will be able to weather all the storms coming.

[Eluc]

It's over... price is going down faster than transaction confirmations.

[Chucksta]

Ah balls, and there was me just about to sell a few to pay for my Isle of Man TT trip... dammit, don't they realise I have lots and lots of beer to buy!

[Operatr]

Yesterday, when I woke up, I had visions of being rich enough to tell everyone around me my secret nicknames for them.  Today, I'm glad that I didn't.

On the other hand, if one goes back to a few months ago, before the madness began, and charts a LINEAR extrapolation of the Bitcoin price, it looks like it's still one of the best assets available to play with.

One COULD obsess about the price going from USD 260 to USD 120, or one could remember that it has gone from USD 20 to USD 120 in a relatively short time.

...and I will keep clicking my heels three times and repeating this mantra until that bitter taste in the back of my throat goes away.

Wait until the next push brings it to $1000. Think long term with Bitcoin, the market is young and fluctuating due to real world events, and things that are just unforeseen at this point. This is a never before tried system, there are bound to be some hiccups.

[myrkul]

Yesterday, when I woke up, I had visions of being rich enough to tell everyone around me my secret nicknames for them.  Today, I'm glad that I didn't.

On the other hand, if one goes back to a few months ago, before the madness began, and charts a LINEAR extrapolation of the Bitcoin price, it looks like it's still one of the best assets available to play with.

One COULD obsess about the price going from USD 260 to USD 120, or one could remember that it has gone from USD 20 to USD 120 in a relatively short time.

...and I will keep clicking my heels three times and repeating this mantra until that bitter taste in the back of my throat goes away.

Wait until the next push brings it to $1000. Think long term with Bitcoin, the market is young and fluctuating due to real world events, and things that are just unforeseen at this point. This is a never before tried system, there are bound to be some hiccups.

Go way back, and look at each big news hit.

It jumps up a huge amount, plummets to about half the max price, and then stabilizes at a point somewhere in the middle and begins a slow rise again. We've been hit hard lately, is all.

Expect a new stable price around $150-$175, breaking 200 again in a few weeks, after the fervor dies down a little.

[Come-from-Beyond]

But, what if it isn't a bubble?

As we all already decided - it's a snowball. We have just forgotten about the spring...

[firefop]

I honestly think bitcoin is worth the price but what concerns me is the extremely quick growth in price, if this isn't a bubble I don't know what is.

The mistake people make is they assume that 'the dreaded bubble' happens independent from market growth. In the case of bitcoin (don't ask me about other markets) it doesn't. According to my calculations real support is between 120 and 150. So my perspective on if it's even a bubble... some portion of it is, and since the exchanges are still small markets (not many users) it's very easy for one or the other of them to have panic selloffs or buyups that spike prices. Thus the perception of where the bubble started is often skewed drastically on the low side.

I seriously doubt that we'll ever see prices under 60 again. And really if you take a long enough view it doesn't matter the general trend over years will always be up as long we can keep bitcoin alive until it hits 21m coins.

As for me I got out at 220 and now am buying all the way down.