ArticMine
Legendary
Offline
Activity: 2282
Merit: 1050
Monero Core Team
|
|
June 18, 2014, 11:25:38 PM |
|
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger. Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange. is this your thought process or did you have something else in mind? The auction will generate a fair amount of publicity and then there is the perception of tacit approval of Bitcoin by the US government. This can have a significant influence of deep pocketed investors sitting on the sidelines. In a rising market the trigger is what the losing not the winning bidders decide to do. This auction can easily produce a series of disappointed deep pocketed players who did not get their BTC. The question then becomes what will they do?
|
|
|
|
bitcoinsrus
|
|
June 18, 2014, 11:32:29 PM Last edit: June 18, 2014, 11:45:20 PM by bitcoinsrus |
|
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger. Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange. is this your thought process or did you have something else in mind? The auction will generate a fair amount of publicity and then there is the perception of tacit approval of Bitcoin by the US government. This can have a significant influence of deep pocketed investors sitting on the sidelines. In a rising market the trigger is what the losing not the winning bidders decide to do. This auction can easily produce a series of disappointed deep pocketed players who did not get their BTC. The question then becomes what will they do? Oh, alright. Thanks for your response. Hopefully the media coverage is in a positive light. More people should get involved because of it. Yea hopefully the losers do not feel like they missed out (enough not to get involved or something. It makes more sense now (and same for alley above, I was considering that above as well) ------------------------------------------------------------------------------ edit: also adam (below this comment), I never thought of it like that. Lets see what happens .
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
June 18, 2014, 11:35:35 PM Last edit: June 18, 2014, 11:51:29 PM by adamstgBit |
|
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger. Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange. is this your thought process or did you have something else in mind? everyone sold coins or wired money to exchanges expecting the price to drop price is : 605 we get close to the day of, lots of press, good press! poeple wire more monies... price is : 705 the coins are sold and surprize surprize the price doesn't drop! price is : 805 3 days later we are in full on bubble mode and there's 10million on the side lines wondering why theres no cheap coins to be had price is : 1600 next week, looks like will Argentina will default on their debts! Paso's flood the BTC market, its unbelievable how many Pesos there are and no one wants them! price is : 3200 the cheap coins lovers realize what's happening and panic buy. price is : 5200 Obama says "bitcoin will save business more money and create new jobs" the WORLD PANIC BUYS ALL THE BITCOINS!!!!!!!!!!! price is : 52,000$ Millions of people are seriously pissed off at wall street for acting so slowly the people want there bitcoins! NOW! wall street acts swiftly to respond to the overwhelming demand its not enough! its not enough! its not enough! the poeple demand MORE MORE MORE! Price is now : 520,000$
|
|
|
|
Tzupy
Legendary
Offline
Activity: 2170
Merit: 1094
|
|
June 18, 2014, 11:37:36 PM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.
I usually agree with TERA's posts, but not with this one. IMO a bubble is normal and very common, the mania phase of the bubble is somewhat unnatural, unjustified and rare. Silver in 2010 - 2011 had a mania phase, of course not as manic as bitcoin. Had a wave A in 2011 - 2012, wave B in 2012, and now seems to be still in wave C (back to pre-bubble price).
|
|
|
|
JorgeStolfi
|
|
June 18, 2014, 11:42:03 PM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly.
My understanding is that the "bubble" metaphor refers to the price "inflating" by an extraordinary amount, pushed by nothing but air, and then suddenly collapsing. I've always seen it used (outside the trading community) in pejorative sense, and never noticed any implication about the price after the bubble being higher or lower than before.
|
|
|
|
aminorex
Legendary
Offline
Activity: 1596
Merit: 1030
Sine secretum non libertas
|
|
June 18, 2014, 11:45:12 PM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.
We call it a bubble because it lacks bones, internal structure, to support the surface structure (the observed price). If liquidity disappears when volatility arises, that is incremental evidence of a bubble, "frothiness". To some degree the notion of a bubble is inapplicable to pair trades, such as BTCUSD, in contrast to the way that it applies to a yielding security, since there is no question of future income streams being generated, or of the value mechanism lacking the internal structure to generate an income stream implied by market valuation. But it is fair to also characterize a bubble extensionally, as being demonstrated in historical retrospect by a trading price series having certain well-known characteristics. The characteristics of a bubble or mania in equities or fixed-income products may be taken as paradigmatic of a larger bubble phenomenon, which is identified by pattern matching a time-series. In the case of economic fundamentals, we can describe historical misallocations as bubbles similarly. In my view, the exponential baseline of BTCUSD is a fundamentally derived signal, while the intermittent spikes and crashes are a superimposed sequence of manias and depressions. The latter can be fairly described as bubbles, both because of their pattern, and because the prices represent an excess, a mania, which exceeds the fundamental factors which precipitate it, both to the upside, and to the downside.
|
|
|
|
JayJuanGee
Legendary
Online
Activity: 3878
Merit: 11065
Self-Custody is a right. Say no to"Non-custodial"
|
|
June 18, 2014, 11:48:30 PM |
|
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
|
|
June 18, 2014, 11:51:03 PM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.
I coined "growth spurt" quite a while ago. I appreciate it if people start using that.
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
June 18, 2014, 11:53:36 PM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.
I coined "growth spurt" quite a while ago. I appreciate it if people start using that. Bubble just sounds cooler.
|
|
|
|
JayJuanGee
Legendary
Online
Activity: 3878
Merit: 11065
Self-Custody is a right. Say no to"Non-custodial"
|
|
June 18, 2014, 11:56:20 PM |
|
I feel like Cartman in that episode where he freezes himself in order to not have to wait for a new games console to come out.
Freeze me! And thaw me when we're at 2k+! Watching this farting about at 600 is boooooooring.
I'd rather go back 4-5 years in time... Although some cryo wouldn't be bad either Both ideas are MAJOR fantasies. Let's SNAP OUT OF IT!!!!!!!!!
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 19, 2014, 12:00:55 AM |
|
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
|
|
June 19, 2014, 12:01:32 AM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.
I coined "growth spurt" quite a while ago. I appreciate it if people start using that. Bubble just sounds cooler. Bubble sounds like it is a scam. When people that actually like Bitcoin use a term which indicated a ponzi scheme can you blame people for not understanding?
|
|
|
|
nrd525
Legendary
Offline
Activity: 1868
Merit: 1023
|
|
June 19, 2014, 12:04:07 AM |
|
Got my Coinbase coins. Arbitraging Bitfinex for $20/BTC worked. Funny how that BFX premium (over Bitstamp) didn't last long. It's pretty much at zero now.
|
|
|
|
ThomasCrowne
Full Member
Offline
Activity: 210
Merit: 100
★☆★ 777Coin - The Exciting Bitco
|
|
June 19, 2014, 12:30:36 AM |
|
The SR coins will sell above market causing all sellers to raise there asks. Prices will climb fast. Just my theory anyway.
i disagree with this. i suspect coins will be sold either at or slightly below current market price (whatever that is at the time)
|
|
|
|
Nightowlace
|
|
June 19, 2014, 12:38:44 AM |
|
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger. Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange. is this your thought process or did you have something else in mind? everyone sold coins or wired money to exchanges expecting the price to drop price is : 605 we get close to the day of, lots of press, good press! poeple wire more monies... price is : 705 the coins are sold and surprize surprize the price doesn't drop! price is : 805 3 days later we are in full on bubble mode and there's 10million on the side lines wondering why theres no cheap coins to be had price is : 1600 next week, looks like will Argentina will default on their debts! Paso's flood the BTC market, its unbelievable how many Pesos there are and no one wants them! price is : 3200 the cheap coins lovers realize what's happening and panic buy. price is : 5200 Obama says "bitcoin will save business more money and create new jobs" the WORLD PANIC BUYS ALL THE BITCOINS!!!!!!!!!!! price is : 52,000$ Millions of people are seriously pissed off at wall street for acting so slowly the people want there bitcoins! NOW! wall street acts swiftly to respond to the overwhelming demand its not enough! its not enough! its not enough! the poeple demand MORE MORE MORE! Price is now : 520,000$ Multi Billionaire who's only son died from Silk Road overdose buy all the bitcoins and dumps them all on the exchange in an effort to destroy bitcoin once and for all Bitcoin price is $2.49 and massive suicides take place globally. PS I'm kidding.
|
|
|
|
tarmi
Legendary
Offline
Activity: 1232
Merit: 1011
|
|
June 19, 2014, 12:53:06 AM |
|
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger. Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange. is this your thought process or did you have something else in mind? everyone sold coins or wired money to exchanges expecting the price to drop price is : 605 we get close to the day of, lots of press, good press! poeple wire more monies... price is : 705 the coins are sold and surprize surprize the price doesn't drop! price is : 805 3 days later we are in full on bubble mode and there's 10million on the side lines wondering why theres no cheap coins to be had price is : 1600 next week, looks like will Argentina will default on their debts! Paso's flood the BTC market, its unbelievable how many Pesos there are and no one wants them! price is : 3200 the cheap coins lovers realize what's happening and panic buy. price is : 5200 Obama says "bitcoin will save business more money and create new jobs" the WORLD PANIC BUYS ALL THE BITCOINS!!!!!!!!!!! price is : 52,000$ Millions of people are seriously pissed off at wall street for acting so slowly the people want there bitcoins! NOW! wall street acts swiftly to respond to the overwhelming demand its not enough! its not enough! its not enough! the poeple demand MORE MORE MORE! Price is now : 520,000$ Multi Billionaire who's only son died from Silk Road overdose buy all the bitcoins and dumps them all on the exchange in an effort to destroy bitcoin once and for all Bitcoin price is $2.49 and massive suicides take place globally. PS I'm kidding. I would like to watch that in a theater. "Silk road merchant"
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
June 19, 2014, 12:54:26 AM |
|
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger. Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange. is this your thought process or did you have something else in mind? everyone sold coins or wired money to exchanges expecting the price to drop price is : 605 we get close to the day of, lots of press, good press! poeple wire more monies... price is : 705 the coins are sold and surprize surprize the price doesn't drop! price is : 805 3 days later we are in full on bubble mode and there's 10million on the side lines wondering why theres no cheap coins to be had price is : 1600 next week, looks like will Argentina will default on their debts! Paso's flood the BTC market, its unbelievable how many Pesos there are and no one wants them! price is : 3200 the cheap coins lovers realize what's happening and panic buy. price is : 5200 Obama says "bitcoin will save business more money and create new jobs" the WORLD PANIC BUYS ALL THE BITCOINS!!!!!!!!!!! price is : 52,000$ Millions of people are seriously pissed off at wall street for acting so slowly the people want there bitcoins! NOW! wall street acts swiftly to respond to the overwhelming demand its not enough! its not enough! its not enough! the poeple demand MORE MORE MORE! Price is now : 520,000$ Multi Billionaire who's only son died from Silk Road overdose buy all the bitcoins and dumps them all on the exchange in an effort to destroy bitcoin once and for all Bitcoin price is $2.49 and massive suicides take place globally. PS I'm kidding. I would like to watch that in a theater. the worlds a stage. you're living it!
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 19, 2014, 01:00:54 AM |
|
|
|
|
|
empowering
Legendary
Offline
Activity: 1078
Merit: 1441
|
|
June 19, 2014, 01:18:30 AM |
|
How soon until $640 I wonder? maybe not very long.
|
|
|
|
thezerg
Legendary
Offline
Activity: 1246
Merit: 1010
|
|
June 19, 2014, 01:18:59 AM |
|
Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.
I agree its hard to call something a bubble that settles 5 to 10 times higher than it started making it the years best investment. So I spent the first year saying "bubble" in quotes or using terms like run-up but now I've just given up. We are redefining the term bubble I guess. Its a new phenomenon -- social networks have allows financial communication within large sub-cultures to happen faster then an exponential adoption curve, yielding super-exponential "bubbles" on top of a baseline exponential. Someday some loser will write a book about it and get the Nobel prize in Economics...before Satoshi .
|
|
|
|
|