A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever

[MWalk]

https://www.bloomberg.com/news/articles/2017-09-26/mike-novogratz-is-set-for-comeback-with-crytocurrency-hedge-fund?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

Thoughts??

[MissionPhailed]

Wow, that bloke totally hit bulls-eye with Ethereum!
He could be right as Bitcoin might be in some sort of bubble-phase right now. The cryptomarket is extremely volatile and people like Novogratz are actually the driving force behind it. However, if he means that Bitcoin is one big bubble and will more or less vanish in the long term, I think (hope?) he is wrong.

[HashFace]

Sounds like hyperbole.  Even if bitcoin is a bubble, I don't see how it could be the "biggest bubble ever".  The housing bubble damn near took out the entire US economy and banking system.  The Dot-Com bubble sent the US into a 3 year recession.  For as much as I love bitcoin, it's $65 billion market cap and low saturation rate into the population would not even register on the scale if it all blew up tomorrow. 

Plus ... history has shown that collapses happen, and often just turn out to be good times to buy. I bitcoin collapse likely will happen as some point, but I don't think it will be end of bitcoin or other blockchain assets.

[stompix]

I love how he says he has done terrific trades and hit always the highest value when selling and bought at the bottom.
But he did burn 250 or so millions in his latest investment and now his main focus is raising money.

Yeah, good luck with that.There will undoubtedly be morons who will trust this guy but once I hear somebody claiming for years that everything is ok and next morning to go bankruptcy I wouldn't put a cent in his "fund".

He got lucky once, for that the moron will pay twice.
And more than a moron, this guy is dangerous. He plans a pump and dump scheme.

[ManavKalyan]

https://www.bloomberg.com/news/articles/2017-09-26/mike-novogratz-is-set-for-comeback-with-crytocurrency-hedge-fund?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

Thoughts??

Some ppl just are too quick to take it out of context.. He talks sense... If you never sell how do you cash out??
Its a bubble then yes, but its a good bubble that will bring a fundamental change in how we do business, raise capital and build decentralized systems ...

[audaciousbeing]

https://www.bloomberg.com/news/articles/2017-09-26/mike-novogratz-is-set-for-comeback-with-crytocurrency-hedge-fund?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

Thoughts??

Having read the article I see it as a mere talk and not an interview per se because it was merely an expression in which the editor try to capitalise on the few words he said in trying to create a further panic and thereafter linked the news of JP Morgan CEO speech to a completely different scenario altogether.

Even if he said it with all conviction, he is entitled to his opinion and behaves like an average bitcoiner on the forum whose advise or intention everyday is to buy low the sell high. So, what is saying is actually nothing new rather, its a confirmation of what we already know but the difference is why some people will act on it, others will complain.

[jorneyflair]

https://www.bloomberg.com/news/articles/2017-09-26/mike-novogratz-is-set-for-comeback-with-crytocurrency-hedge-fund?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social

Thoughts??

He could be right.

However, i feel like that bitcoin, even if it is in a bubble, after the bubble pops it'll still thrive as normal. The bitcoin network has no dependence over the price at which it is traded at, and that is the beauty of cryptocurrencies.

Now i think that price is still going to go up before any sort of crash happens, but when it does, it's just normal market activity. Every single pump will be followed by a dump.

[FJNuñez]

Whatever Crypto Fund King you are listening to doesn't know what they're talking about. Bitcoin is the farthest thing from a bubble because of it's immutable ledger and scarce amount of coins.