A little call for reason

[Vandroiy]

I'd like all of you to know one little thought of mine.

People should seriously calm down and let this unfold naturally. It's not sensible to split people into the extremes; one part throwing in more money than they should (Kelly criterion!) and the other screaming -- mostly nonsensical -- opinions why everything must fail with absolute certainty. Both sides are overdoing it. We shout tread with caution and let it unfold in a calm, stable way. If the price jumps to 100 USD in a few weeks, all we will get is more chaos and instability, and the few who benefit might pay out their profits outside of Bitcoin, because the market is just not ready for people to spend or hold 6- or 7-figure USD equivalents within it. Many small speculators who slipped into this might bleed in such cases, and that will not help sustain a good image of Bitcoin.

We need variety, so Bitcoin is good. We don't need more bubbles, so the price hype is bad. It's really that simple! Neither panic and naysayers nor people screaming for exponential growth doubling in less than a month are helping. We're in a state of a half-caught crash, barely avoided further chaos -- don't push it now. Take a step back and remember what is reasonable and what is not.

That's all I wanted to say. Thanks for reading.

[DamienBlack]

Welcome to the internet. Most people are treating bitcoin normally watching it unfold naturally, but forums like this attract the polar extremes. I wouldn't look at the forums or blogoshpere as any type of indication as to how bitcoins are fairing, or ever what people really think about them.

[Timo Y]

The last three months have seen a strong correlation between BTC price and user numbers (growth in user numbers can be estimated from alexa.com, google trends, and forum membership)

That seems perfectly sustainable to me.  

Now that bitcoin has been in the mainstream media and most people have heard about it, price is levelling off.  I don't see a bubble anywhere.

[FreeMoney]

A little balance is good, just don't go overboard with it.

[Timo Y]

A little balance is good, just don't go overboard with it.

Do everything in moderation, including moderation.

[DamienBlack]

The last three months have seen a strong correlation between BTC price and user numbers (growth in user numbers can be estimated from alexa.com, google trends, and forum membership)

That seems perfectly sustainable to me.  

Now that bitcoin has been in the mainstream media and most people have heard about it, price is levelling off.  I don't see a bubble anywhere.

I think you greatly overestimate that "most people have heard about it". Give it another year.

[rebuilder]

Welcome to the internet. Most people are treating bitcoin normally watching it unfold naturally, but forums like this attract the polar extremes. I wouldn't look at the forums or blogoshpere as any type of indication as to how bitcoins are fairing, or ever what people really think about them.

This. Ever heard of a vocal moderate?

[bitplane]

I agree, and there ought to be a vocal moderate / voice of reason in here to combat the over-optimistic, the naysayers and the crackpots.

[Frozenlock]

The last three months have seen a strong correlation between BTC price and user numbers (growth in user numbers can be estimated from alexa.com, google trends, and forum membership)

That seems perfectly sustainable to me.  

Now that bitcoin has been in the mainstream media and most people have heard about it, price is levelling off.  I don't see a bubble anywhere.

I think you greatly overestimate that "most people have heard about it". Give it another year.

As long as I look like a nutjob for bringing Bitcoin as a topic of conversation, I will not consider that "most people have heard about it".