1.7 Trillion USD - and a question for bitcoin investors

[freightjoe]

In the span of just a few months in 2000 the internet bubble burst and 280 companies lost 1.7 trillion USD in value. That is 13 times more than the entire market cap of Bitcoin (!). 13 times all of bitcoin in the world lost for comparison.

Almost a third of them lost more than 90% of their valuation. That means Bitcoin can easily go from 7700 USD now to 770 USD very quickly.

It is only now in 2017 - 17 years later - that the NASDAQ has regained what was lost in year 2000.

For all you bitcoin investors - would you be happy with seeing 90% of your value lost now, and then have to wait 17 years just to get back to where you are now?

Or is it time to cash in before it is too late?

http://money.cnn.com/2000/11/09/technology/overview/

[akash15785]

In the span of just a few months in 2000 the internet bubble burst and 280 companies lost 1.7 trillion USD in value. That is 13 times more than the entire market cap of Bitcoin (!). 13 times all of bitcoin in the world lost for comparison.

Almost a third of them lost more than 90% of their valuation. That means Bitcoin can easily go from 7700 USD now to 770 USD very quickly.

It is only now in 2017 - 17 years later - that the NASDAQ has regained what was lost in year 2000.

For all you bitcoin investors - would you be happy with seeing 90% of your value lost now, and then have to wait 17 years just to get back to where you are now?

Or is it time to cash in before it is too late?

http://money.cnn.com/2000/11/09/technology/overview/

Well, that was 2000, now it's 2017. Bitcoin technology is much secure and advanced than ever. Also, another plus point is, around 1/5th of peoples around globes(I guess), knows what is bitcoin and what's its future. Every day, thousands of new peoples joining bitcoin community. What do you think, why they're joining. Because many experienced economists already predicted that there will be 5-10X rise in value after 2018. So, no, I don't want to withdraw my bitcoin yet. Let wealth grow day by day..

Cheers for some bright future my friend..

[freightjoe]

Well, that was 2000, now it's 2017.

Wow. The old "This time it's different" argument. Another one in the list of market warning signs.....

[ANENOOB]

Well, that was 2000, now it's 2017.

Wow. The old "This time it's different" argument. Another one in the list of market warning signs.....

actualy i though bitcoin cant just pop like a bubble burst, you know why ? the price droping cant be that quick i mean with all this bitcoin user in the world if the price of bitcoin drop some of them just buy it and the price will raise again,have different story "if" there vulnerable at blockchain tech and make bitcoin less valuable ppl will leave it.
this is my opinion

[freightjoe]

actualy i though bitcoin cant just pop like a bubble burst, you know why ? the price droping cant be that quick i mean with all this bitcoin user in the world if the price of bitcoin drop some of them just buy it and the price will raise again,have different story "if" there vulnerable at blockchain tech and make bitcoin less valuable ppl will leave it.
this is my opinion

Once Bitcoin starts to go down, the your strategy of hold and wait will no longer work. Many people who are now invested in Bitcoin are not rich people. When bitcoin is slowly going down then at some point they have to sell in order to pay the rent for their housing, or food or clothing or tuition. That forces some of the small investors to sell, lowering the price more - and on and on it goes.

[Don Pedro Dinero]

In the span of just a few months in 2000 the internet bubble burst and 280 companies lost 1.7 trillion USD in value. That is 13 times more than the entire market cap of Bitcoin (!). 13 times all of bitcoin in the world lost for comparison.

Almost a third of them lost more than 90% of their valuation. That means Bitcoin can easily go from 7700 USD now to 770 USD very quickly.

It is only now in 2017 - 17 years later - that the NASDAQ has regained what was lost in year 2000.

For all you bitcoin investors - would you be happy with seeing 90% of your value lost now, and then have to wait 17 years just to get back to where you are now?

Or is it time to cash in before it is too late?

http://money.cnn.com/2000/11/09/technology/overview/

Well, as I explained in another post: https://bitcointalk.org/index.php?topic=285639.msg24717584#msg24717584

It is better to tell the whole story:



Nasdaq bubble popped because people were investing a too much too early, they were anticipating future returns but nowadays Nasdaq has surpassed by far the ath when the bubble popped. It took 15 years to get to the same level, not 17. In 17 it has gone up significantly higher.

Drawing a comparison to ask whether you should be willing to wait 17 years (actually 15) or if you should cash out is drawing a bad comparison in my opinion: Nasdaq is not similar to bitcoin, it is more similar to the whole crypto coin market, if you want to establish the comparison.

Many companies formed Nasdaq, some disappeared, and some new ones appeared after. I think something similar may happen with the crypto world, most of alts we see nowadays will disappear and some new ones may appear.

The problem is we don’t know when. Just because that happened with Nasdaq, doesn’t, at all, mean that it is going to happen with the crypto world soon.

Have you seen World’s stock market cap? It looks much more clearly like a bubble than the bitcoin one.

So, it is good to be aware that we can have downtrends in the market and bear market for years, but not based on comparisons like that one.

[freightjoe]

Nasdaq bubble popped because people were investing a too much too early, they were anticipating future returns but nowadays Nasdaq has surpassed by far the ath when the bubble popped. It took 15 years to get to the same level, not 17. In 17 it has gone up significantly higher.

Drawing a comparison to ask whether you should be willing to wait 17 years (actually 15) or if you should cash out is drawing a bad comparison in my opinion: Nasdaq is not similar to bitcoin, it is more similar to the whole crypto coin market, if you want to establish the comparison.

Many companies formed Nasdaq, some disappeared, and some new ones appeared after. I think something similar may happen with the crypto world, most of alts we see nowadays will disappear and some new ones may appear.

The problem is we don’t know when. Just because that happened with Nasdaq, doesn’t, at all, mean that it is going to happen with the crypto world soon.

Have you seen World’s stock market cap? It looks much more clearly like a bubble than the bitcoin one.

So, it is good to be aware that we can have downtrends in the market and bear market for years, but not based on comparisons like that one.

What a load of bull....

[Rajatruck]

Well, that was 2000, now it's 2017.

Wow. The old "This time it's different" argument. Another one in the list of market warning signs.....

it's always different

[KuromaYoichi]

Of course i won't be happy seeing my investment lost 90% of it's value, no sane person will be happy with that situation, but bitcoin is not a bubble, it's not 2013 and the situation is different now. How many times people said bitcoin is a bubble before? seems like everytime we got a new ath people start saying it's a bubble.

[mobnepal]

Internet bubble and current crypto craze is completely different thing, bitcoin price is not determined by big banks and government are not holding large chunk of bitcoin right now so the only dump we can get on market is from some big holders. Most of the big holders are also big supporters of bitcoin so it is quite unlikely that they will just sell off all their holding at once.

[freightjoe]

bitcoin price is not determined by big banks and government are not holding large chunk of bitcoin right now so the only dump we can get on market is from some big holders. 

exactly, so when bitcoin crashes there will be no one out there to stop the drop and help the people who cannot afford to lose everything

[fiulpro]

The value goes down when people like you panic.
They sell bitcoins when the price is exceptionally very high and then due..to.. Dumping a lots of bitcoins the value of bitcoins goes down..and yes if people follow your senario then its at that time that it can loose its value from 7700 to 770 and the way to confront it is to.. keep holding bitcoins and believe in them.. Don't cash out when you panic..do when you are actually in the need to..

[stompix]

Well, that was 2000, now it's 2017. Bitcoin technology is much secure and advanced than ever. Also, another plus point is, around 1/5th of peoples around globes(I guess), knows what is bitcoin and what's its future. Every day, thousands of new peoples joining bitcoin community. What do you think, why they're joining. Because many experienced economists already predicted that there will be 5-10X rise in value after 2018. So, no, I don't want to withdraw my bitcoin yet. Let wealth grow day by day..

Cheers for some bright future my friend..

Technology has nothing to do with it. Nor does "security"
Probably you haven't bothered to read the whole paragraph or you have no clue what the dot bubble was.
And your phrasing makes BTC indeed sound like a bubble more than defending it:

Let wealth grow day by day.

This can't go on forever.

Once Bitcoin starts to go down, the your strategy of hold and wait will no longer work. Many people who are now invested in Bitcoin are not rich people. When bitcoin is slowly going down then at some point they have to sell in order to pay the rent for their housing, or food or clothing or tuition. That forces some of the small investors to sell, lowering the price more - and on and on it goes.

Actually it is you who is making the wrong assumption here.
If they did buy bitcoin and are ready to wait 1-2 maybe 4 years that doesn't make them unable to pay their rent next month as either way they would still have their money "captive" in their investment.
Small investors here usually have juts enough they afford to lose, the number of those that have taken mortgages to buy coins can be counted by an average monkey

seems like everytime we got a new ath people start saying it's a bubble.

Well, when did the other bubbles pop? Not just after an ath?
That is a definition of a bubble, a bubble won't go bust after an all time low.
So if you want to make a prediction and have people cheer you as an "expert'" this one is a safe bet.

[freightjoe]

The value goes down when people like you panic.
They sell bitcoins when the price is exceptionally very high and then due..to.. Dumping a lots of bitcoins the value of bitcoins goes down..and yes if people follow your senario then its at that time that it can loose its value from 7700 to 770 and the way to confront it is to.. keep holding bitcoins and believe in them.. Don't cash out when you panic..do when you are actually in the need to..

.... and many of the bitcoin owners will need to sell when they have to pay the rent for their housing, food, school tuition and so on, and that will cause the crash to continue and make itself decline even faster

[scottykarate]

Well, this is a FUD post if I ever saw one! This isn't a bunch of small companies going belly up. The strong ones with something established seem to have survived. This is not a market. The altcoins that fail will have people more their money into more solid alts or Bitcoin.

[freightjoe]

Well, this is a FUD post if I ever saw one! This isn't a bunch of small companies going belly up. The strong ones with something established seem to have survived. This is not a market. The altcoins that fail will have people more their money into more solid alts or Bitcoin.

The word "Solid" clearly does not work in the same sentence as "alts" and "Bitcoin"

[scottykarate]

The value goes down when people like you panic.
They sell bitcoins when the price is exceptionally very high and then due..to.. Dumping a lots of bitcoins the value of bitcoins goes down..and yes if people follow your senario then its at that time that it can loose its value from 7700 to 770 and the way to confront it is to.. keep holding bitcoins and believe in them.. Don't cash out when you panic..do when you are actually in the need to..

.... and many of the bitcoin owners will need to sell when they have to pay the rent for their housing, food, school tuition and so on, and that will cause the crash to continue and make itself decline even faster

Not many have quit their careers due to Bitcoin. If so, shame on them.

[scottykarate]

Well, this is a FUD post if I ever saw one! This isn't a bunch of small companies going belly up. The strong ones with something established seem to have survived. This is not a market. The altcoins that fail will have people more their money into more solid alts or Bitcoin.

The word "Solid" clearly does not work in the same sentence as "alts" and "Bitcoin"

Sure it does in the context of your reference to businesses that went belly up in 2008. I was there. Were you?

Would you prefer more-established?

[scottykarate]

Your post-listing shows what I'd consider FUD posts and then shilling another alt, if I'm reading correctly. I've worked all night, so I may be misinterpreting.

[soham]

In the span of just a few months in 2000 the internet bubble burst and 280 companies lost 1.7 trillion USD in value. That is 13 times more than the entire market cap of Bitcoin (!). 13 times all of bitcoin in the world lost for comparison.

Almost a third of them lost more than 90% of their valuation. That means Bitcoin can easily go from 7700 USD now to 770 USD very quickly.

It is only now in 2017 - 17 years later - that the NASDAQ has regained what was lost in year 2000.

For all you bitcoin investors - would you be happy with seeing 90% of your value lost now, and then have to wait 17 years just to get back to where you are now?

Or is it time to cash in before it is too late?

http://money.cnn.com/2000/11/09/technology/overview/

I won't really mix up bitcoin with the dotcom bubble that happened in 2000. That time, a majority of the investor didn't know what internet is and what can be done using it. I remember, that I didn't have a computer at my house that time and I got my first computer in 2004. I remember spending 15 minutes to download a 3 mb sized song. The situation has changed a lot in 2017. Today, people are much more informed and resilient to changes. A lot of innovation in technology and financial field has progressed the mankind so we can quickly take out decisions with the help of statistics.

So I recommend you to please keep your discouraging words under your pant. Today people know what they are doing and they also know how to fight back with the help of data analysis and information. Dotcom bubble will not repeat in crypto world especially when we are standing in an era of advanced technologies.