We're in a bubble

[spartak_t]

I think everyone with at least half a brain knows we are in a bubble. What's the reason of latest Bitcoin increase? 100s of thousands unconfirmed transactions? How about all these crowdsales and ICOs based on Ethereum? All these "exciting" projects? Why DGB is close to 900 satoshi? DOGE? My personal opinion is that the price of a coin (or whatever) should be justified with usage and I don't think that usage of digital currencies has increased THIS much. Don't get me wrong - I'm also excited with the latest BTC increase and everything, but I'm always thinking about the future and now I think it looks scary...

[virtualdn]

Of course we are in a bubble but some are making huge amounts of money on it - if they are in the right pump - I predict most altcoins prices will fall down pretty soon to correction price

[spartak_t]

Of course we are in a bubble but some are making huge amounts of money on it - if they are in the right pump - I predict most altcoins prices will fall down pretty soon to correction price

My point is that digital currencies should make the world a bit better, but currently we're witnessing the opposite. People became arrogant, because they "made a lot of money from a given coin" and they don't care what happens next. Personally I have a good job and I can spare enough money from 1 salary to have a 2 week vacation in some (say) exotic country. I will be happy if I earn enough money (for example) to repair my apartment in my home town. People should be humble and contribute to digital currencies, because they are a way to create some extra wealth and many will have the chance to do things that they never thought are possible. But what we're seeing is how people only think about boats and bitches...

Now I do not expect correction, I expect explosion...

[virtualdn]

Of course we are in a bubble but some are making huge amounts of money on it - if they are in the right pump - I predict most altcoins prices will fall down pretty soon to correction price

My point is that digital currencies should make the world a bit better, but currently we're witnessing the opposite. People became arrogant, because they "made a lot of money from a given coin" and they don't care what happens next. Personally I have a good job and I can spare enough money from 1 salary to have a 2 week vacation in some (say) exotic country. I will be happy if I earn enough money (for example) to repair my apartment in my home town. People should be humble and contribute to digital currencies, because they are a way to create some extra wealth and many will have the chance to do things that they never thought are possible. But what we're seeing is how people only think about boats and bitches...

Now I do not expect correction, I expect explosion...

It's called greed...

[spartak_t]

Greed that will fuck us all. The DAO failure, which shrank the market with some $4 Billion in a week will look like a joke.

[vlom]

but why is this bubble just getting bigger and bigger. when will it pop? i am waiting for this since several weeks. and nothing happens.
do you have an idea when it will happen?

[virtualdn]

but why is this bubble just getting bigger and bigger. when will it pop? i am waiting for this since several weeks. and nothing happens.
do you have an idea when it will happen?

When nobody expects

[PovertyByte]

The bubble cryers were mostly BTC maximalist when it was just ETH and Dash, but after a few coins that have some reason to grow had surges the market has now seen actual noobs just blindly entering coins tying to ride the next pump.

With the current model of using BTC to enter into altcoins, it is actually possible in theory for nobody to buy or sell BTC for fiat locking the BTC price up while everyone on the exchanges just raises the BTC demands for altcoins. The result is an inflated total cryptocurrency marketcap that will never actually see the equivalent in fiat. Technically with BTC as the entry to all alts it shouldn't be possible for the BTC market dominance to fall below 50% but this has wiggle room with some other coins being accessible by fiat now. This massive ICO explosion and random shitcoin pumping is creating a legitimate problem now. Everyone will watch all cryptocurrency take a hit and we will hopefully weed out the blind speculators buying into this without any care of effort into understanding what they bought

[spartak_t]

Technically with BTC as the entry to all alts it shouldn't be possible for the BTC market dominance to fall below 50%

This already happened. BTC dominance currently is at all time low - 47%. Both ETH and Dash sucks... BIG time...

[cryptohunter]

are we in a bubble though or at the start of mainstream waking up to crypto? hard to know.

[Tyrantt]

are we in a bubble though or at the start of mainstream waking up to crypto? hard to know.

I'm in a dilemma now since the if it's a bubble that would mean that the price is inflating over the bitcoins intrinsic value but as we know, in the past few weeks a lot has happened to bitcoin like Japan accepting bitcoin and Australia soon to do the same, huge exchange office in japan accepting bitcoin,etc... if the bubble doesn't burst in the next week or two, it might not at all at this quarter or the next.

[spartak_t]

are we in a bubble though or at the start of mainstream waking up to crypto? hard to know.

This was expected (at least I did expected it). Last Summer I made a prediction that Bitcoin is going to reach $2k by this Summer. It already did and it happened earlier. But I still think that everything is happening so fast. Bitcoin's like 0.1% of world's money in circulation, which is INSANE...

[Febo]

I think everyone with at least half a brain knows we are in a bubble. What's the reason of latest Bitcoin increase? 100s of thousands unconfirmed transactions? How about all these crowdsales and ICOs based on Ethereum? All these "exciting" projects? Why DGB is close to 900 satoshi? DOGE? My personal opinion is that the price of a coin (or whatever) should be justified with usage and I don't think that usage of digital currencies has increased THIS much. Don't get me wrong - I'm also excited with the latest BTC increase and everything, but I'm always thinking about the future and now I think it looks scary...

We are in a bubble, but question is where. Are we at top? Or are we at start?   I think we are not at top. All crypto marketcap only doubled in last month. in November 2103 it went up x5 in one month.  So this is a big question. How long till bubble will burst.  If it will take months then we are still to see huge price grows.


But one thing is sure. 2019 will be 2014 again. Depressing year when price of all cryto will decrease and everyone will cry crypto scammed them.

[Minecache]

I think everyone with at least half a brain knows we are in a bubble. What's the reason of latest Bitcoin increase? 100s of thousands unconfirmed transactions? How about all these crowdsales and ICOs based on Ethereum? All these "exciting" projects? Why DGB is close to 900 satoshi? DOGE? My personal opinion is that the price of a coin (or whatever) should be justified with usage and I don't think that usage of digital currencies has increased THIS much. Don't get me wrong - I'm also excited with the latest BTC increase and everything, but I'm always thinking about the future and now I think it looks scary...

Wondered when you'd crawl out the woodwork. You should be thoroughly ashamed of yourself for advising posters not to get into ETH when it was $7. They are now having to use their life savings to buy into the market at $150/ETH. I hope this is a clear warning to others not to listen to any of your advices now or in the future.

[Red-Apple]

but why is this bubble just getting bigger and bigger. when will it pop? i am waiting for this since several weeks. and nothing happens.
do you have an idea when it will happen?

not now, because right now people are still investing in altcoins, but this will end. when things slow down and the rockets run out of fuel meaning when people didn't have enough money to pour in, the bubbles start popping and the problem is that when they do things become scary because we all have experienced what panic sells can do to any market.

[spartak_t]

I think everyone with at least half a brain knows we are in a bubble. What's the reason of latest Bitcoin increase? 100s of thousands unconfirmed transactions? How about all these crowdsales and ICOs based on Ethereum? All these "exciting" projects? Why DGB is close to 900 satoshi? DOGE? My personal opinion is that the price of a coin (or whatever) should be justified with usage and I don't think that usage of digital currencies has increased THIS much. Don't get me wrong - I'm also excited with the latest BTC increase and everything, but I'm always thinking about the future and now I think it looks scary...

Wondered when you'd crawl out the woodwork. You should be thoroughly ashamed of yourself for advising posters not to get into ETH when it was $7. They are now having to use their life savings to buy into the market at $150/ETH. I hope this is a clear warning to others not to listen to any of your advices now or in the future.

Go ahead and ask Vitalik how much he "lost" by selling 25% of his ETH, Mindlesscache:



You are the one who always amazes me with his stupidity: https://bitcointalk.org/index.php?topic=1925921.0

[mining1]

Dollface is right. This is a bubble. But it's not necessarely the bad kind of bubble that 100% implodes. Fresh money getting poured into cryptocurrencies.

I think everyone agrees that ethereum since the end of february had alot of action and dragged alot of attention to itself and cryptos in general. Because if you wanna make a random joe understand what ethereum is, to make it easier you explain first something simple, like bitcoin. Therefore both bitcoin and ethereum benefited from that attention, and bitcoiners had more money to diversify into altcoins. Plus, other altcoins are growing because they are mostly ( 99% ) traded into btc, and since btc is growing, they are growing.

Also, since last year, but especially since 2017, bitcoin and ethereum have big investors from outside the cryptocurrency scene aswell.

Edit: LOl. A honest answer. Whatever X thing is worth today, tomorrow will worth more or less. Do you have regrets for that ? If so, you're an idiot.

[lurker10]

Some cryptos may be in a bubble.

Others - not even close.

Compare something like Nxt (and its accelerating brother Ardor) to Litecoin. The former has 10 times more functions than LTC. Which one is more likely in a bubble? It's a no brainer.

[aoluain]

Dollface is right. This is a bubble. But it's not necessarely the bad kind of bubble that 100% implodes. Fresh money getting poured into cryptocurrencies.

I agree, the bubble might pop or it might morph into a smaller bubble!

Its hard to figure what is driving the rises but in my opinion there are justified
and unjustified rises. Unjustified like Dogecoin and Ripple, Justified like possibly
Litecoin, Bitcoin, Belacoin, Siacoin, Ethereum and Dash. These are just the ones that
I know of that actually offer something and that people will or are actually going to
use rather than just trading only.

[mining1]

You haven't read what i wrote ? I said that almost all altcoins are ~90% traded in btc only, so that's why every other altcoin gained alot in the past 3 months. I think only ethereum is traded "only" 50% in btc, every other coin is traded anywhere between 85-99% bitcoin.

One of the reason XRP gained is because of the FOMO and the fact that people actually believe XRP success is linked to ripple's success as a platform, which is false ( since ripple can work just as well without XRP ). Sad thing is, it's even written on ripple's site. And it's also written that they can freeze assets, they chose validators ( if they have to do that means the project is flawed, wouldn't work with public validators ). Proof of freeze http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

Edit: @minecache was always right about ethereum. Even with the dao, the 60% lose in value after dao incident, he never changed his mind. And people like Dollface were screaming scam and what not. Dollface, you should apologise.