We're in a bubble

[spartak_t]

Doge last commit on github in 2015... Blackcoin same almost.

Your point is? BC is one of my favorites (and one of my huge "failures" (as I made like 4 BTC profit from it in 2 weeks, but it later reached such heights, that I've "lost" over $100k in potential profit)). Banks are sometime using a 50+ year old code.

[dissident]

***
We will all want things to grow a lot taller and deeper, don't you think?
***

but man look how capital/hard cash is burned on coins...
Doge last commit on github in 2015... Blackcoin same almost.
Other coins are being pumped without any good reason.

BTC as store of value and 1st deflationary money can be some exception and ETH as some kind platform.
But ETH is not working there is not POS/ there is no solution to blockchain bloat / ICOs are being made but they are not utilizing ETH environment . People need BTC to hedge against their governments in India/Japan printing press is making their jobs. Eth funds ICOs. But rest in real world what they are doing for their value ?

I like NEM but current 2 billion valuation is f. JOKE ....

It's better tech than Ethereum and competition for Ripple, and frankly would make a great BTC replacement.  If those whales are worth 13 billion+, NEM is worth 5 billion at least.  2 billion is really nothing from a global economic perspective, heck neither is the current market cap of 72 billion.  Active development. New things coming out all the time. Catapult on the way.

GDP of china.... 11 trillion... japan... 4.5 trillion... the US... 17.95 trillion.. and don't get me started on government debt, particularly unfunded liabilities...  get a few more good exchanges like coinbase/GDAX, Gemini, and itbit that handle conversion to fiat and vice vera and it will only increase adoption rates, not to mention a replacement for bitcoin that can handle a LOT of transactions quickly for low fees.

The top 1% has a ton of money with limited places to put it.  Google and Apple could buy up all the cryptos with their cash on hand and have plenty left over.   If they are a digital store of wealth, makes sense they would sport a market that at least rivals that of gold... all the world's gold is worth $7,568,746,077,329 (7.56 trillion, or around 100X all the cryptos combined)

Big relatively untapped market here that could be a great investment vehicle for the right investors. The big challenge is the exchanges being able to adapt to not only the server load, but the changing landscape of the cryptos.  The potential is there for NEM to be THE coin that replaces bitcoin, when more exchanges cover it. This could happen quicker than people think. Landscape is changing quickly. Bitcoin is a dinosaur by modern crypto standards, to be respected for what it is of course.

[Shiroslullaby]

Banks are sometime using a 50+ year old code.

The automotive industry is notorious for this. I've seen computers in factories that are twenty years old and cant be upgraded because of some weird dependency.
Manufacturers who paid big money for a custom software will run it until as long as possible.
If it ain't broke, don't fix it.

[spartak_t]

Banks are sometime using a 50+ year old code.

I've seen computers in factories that are twenty years old and cant be upgraded because of some weird dependency.

I've done this already. Was supporting a mining quarry and factory, which has machines for 100s of thousands and sometime millions. Some of them are, of course, attached to computers. This is one example (took this picture probably 2 years ago):



This one (and like 3 others) was attached to a PC with a 700 MHz Duron CPU... The only difference was a port, which is a Siemens patent and the motherboard was like $1500. Bought few second hand computers for like $20 each, then found PCI cards with this port for ~$70-$80 and all was working again.    
   

[angaper]

Bubble? I don't think so. The whole altcoin market is still very, very small and no one can question its great potential. I think we are just watching a natural consequence of the current distrust in the fiat economic model and an increasing interest in the alternate coins.

[limitless1]

This isnt a bubble, we are still the earliest of adopters. Golds market cap is over 110X larger than Crypto right now. Cryptocurrency is WAY more accessable than gold & has more potential than gold in general. Think about all the people living in 3rd world countries who currency can swing 20%+ in a day, Crypto is a much safer store of value for them... Cryptocurrency hasnt even been around since a US market crash, which will likely happen soon because they happen on average every 4-5 years and its been 8 straight years of growth. When the stock market crashes which is normal, Cryptocurrency is going to see 5Xs+ the growth we are seeing right now per day.

Also your average person doesnt even know what it is yet. When your average cab driver is talking about crypto then it maybe time to sell some coins off. Cryptocurrency is going to go to the trillions of dollars likely within the next 1-3 years. All the bubble people will be feeling like idiots in 1-2 years... Most investors & VCs are just beginning to look at this space, and their money hasnt even entered yet which it will...

Its not easy to move a lot of money into crypto fast, most exchanges dont accept USD. Coinbase has weekly limits which is holding lots of people I know back. So even the big dog investor could take a while to get all their money in.

Its obvious we are not in a bubble, we are simply the earliest of investors in a disruptive technology & new digital asset.

[European Central Bank]

Bubble? I don't think so. The whole altcoin market is still very, very small and no one can question its great potential. I think we are just watching a natural consequence of the current distrust in the fiat economic model and an increasing interest in the alternate coins.

that attitude is gonna bite alot of people on the ass eventually. all reason has been lost when doge can go up 50% in a day. sometime reason will come back. question is whether that's soon or in a few months. if it's a few months then there's gonna be some very, very rich people.

[reRaise]

Some shitcoins like dogecoins or dgb are in a bubble yeah, the real promising ones are not. At some point btc will go freaking up oke, doesnt mean its immidiatly a bubble and how about the dollar value going down ever thought of that.

[spartak_t]

This isnt a bubble, we are still the earliest of adopters. Golds market cap is over 110X larger than Crypto right now.

I think it's over 1%, but that's not important. You think that something valued at ~1% of the gold in existence in ~8 years is tiny...?

[limitless1]

I understand gold has been around forever, but Cryptocurrency is 100X more accessible than gold & there are so many factors which will continue to push this global market higher. Ive listed my reasons, to me its obvious this is the beginning. Time will tell who is right.

[spartak_t]

I'm not wrong and I'm not arguing, since last year I predicted BTC will reach $2k by this Summer, but I was also expecting some actions by core developers (and "hard fork supporters") to be made. But it looks like hard fork is probably inevitable and this can result in some huge financial losses.

[Ayers]

I'm not wrong and I'm not arguing, since last year I predicted BTC will reach $2k by this Summer, but I was also expecting some actions by core developers (and "hard fork supporters") to be made. But it looks like hard fork is probably inevitable and this can result in some huge financial losses.

not sure if it's inevitable, UASF is forcing miner to go with segwit, there are still hope to have segwit activated before the hard fork happen, if that will be true the value will increase even more than what we have now, and i don't understand why 1% of gold market should be considered a huge goal, crypto should be on par with gold if everything go well with bitcoin imho

[chutchmcgillicutty]

definitely in a bubble, just not sure how big it gets and how far coins come down. ETH could pop right now and crash back to <90 or could go up to 500+ and crash down to 250. Long term its gonna go back up. I'm getting less and less comfortable throwing any more money in to stuff right now, might just save and wait for the pop and then double down

[MacT]

 The bubble crypto is in..is also the same bubble stocks are in. The fake one holding the entirely world economy together. Nothing has changed from 2008 so we are well doomed when/if it goes as the new burst will be a gigantic depression. non tangible things like alt coins dont do well during depressions.

[EarlyBirdSpecial]

If you're worried about the crash, hold in fiat and then buy everything you can when the crash happens but only purchase the coins that have strong dev team, strong road maps and real world applications.  It'll be a great buying opportunity when/if it happens.  The markets are cyclical and it will rise once again and you shall be richer for doing so.

[mattkindy]

The real question isn't about whether we're in a bubble, but rather, when and how much the bubble will pop. This year? 2019? Deflation or explosion?

The fact that there are significant happenings can partially justify Ethereum growth, but the sheer amount of speculation on almost everything else leads me to believe that this one will drop significantly, and quickly, especially with the number of "investors" entirely new to the space jumping in because they see bitcoin or whatever up 3x in a month.

[spartak_t]

Personally I don't care if Bitcoin is $1k or $10k as long as everything goes smoothly. Last year I already tried to predict it will reach $2000 by this Summer and it did. And I also think it will be in the $5 - $10k range by 2019, but it's just scary as we have major problems and such growth is not justified... But that's just my opinion...

[kryptqnick]

Bubble? I don't think so. The whole altcoin market is still very, very small and no one can question its great potential. I think we are just watching a natural consequence of the current distrust in the fiat economic model and an increasing interest in the alternate coins.

What do you mean by a small coin market? There are 3 currencies with a so called 'large cap' in altcoin world. Bitcoin is 37, ethereum is 17 and ripple is 12 billion dollars. Together it makes 66 billion of marketcap I think if we add other coins here, we'll have around 70+ billion. I think this is a very big market indeed.
As for increase being natural, I would rather agree with the OP that it is quite sheaky and dangereous right now. There are big problems with bitcoin and other coins are now even really used. I hope people will start using coins (and there will appear more opportunities to do that) and we'll be saved. As for now, we are in a very big potential trouble. Coins are not designed to be stored in wallets. They ought to be functioning.

[forthewin]

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...

I think it's a bubble too. The price for everything has just gone up like crazy for a few months now. We're due for a drop.

[European Central Bank]

What do you mean by a small coin market? There are 3 currencies with a so called 'large cap' in altcoin world. Bitcoin is 37, ethereum is 17 and ripple is 12 billion dollars. Together it makes 66 billion of marketcap I think if we add other coins here, we'll have around 70+ billion. I think this is a very big market indeed.

you're thinking market caps. screw them. they're worthless. look at volumes instead. even then they're mainly just contained within poloniex and friends with no intention of ever leaving it. the whole thing is tiny if you compared it to real markets, just less tiny than before.