1.7 Trillion USD - and a question for bitcoin investors

[HabBear]

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.

No, that means the entire cryptocurrency market could lose 90% of its valuation.

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.

According to CoinMarketCap there are over 1250 crypto currencies. If 90% of these were to lose all their value our crypto currency world would be better for it!

Bitcoin and the 9 or so other crypto currencies that mean something may lose some value but they aren't going anywhere.

Google was around in the 1990s, did it get destroyed by the internet bubble bursting in 2000?

Amazon was around in the 1990s, did it get destroyed by the internet bubble bursting in 2000?

Bitcoin is Google, Ethereum is Amazon.

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[darkangel11]

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?

It's a rhetorical question, right? Do you know anyone who would be happy to lose on an investment? I don't.
It lost 90% in a couple months, so it didn't happen overnight. There would be plenty of time to cash out. Also, an investment is as strong as the will of the community and Bitcoin's community has proven to be strong and dedicated. We had so many crashes and they always ended high, above the point from where the pumps had begun.
If the technology is working and you see no reason to get out, why would others do? Ask yourself this if you're scared of it falling.

[johstacy]

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?

It's a rhetorical question, right? Do you know anyone who would be happy to lose on an investment? I don't.
It lost 90% in a couple months, so it didn't happen overnight. There would be plenty of time to cash out. Also, an investment is as strong as the will of the community and Bitcoin's community has proven to be strong and dedicated. We had so many crashes and they always ended high, above the point from where the pumps had begun.
If the technology is working and you see no reason to get out, why would others do? Ask yourself this if you're scared of it falling.

When I lost my job and most of the investment was due to the fall of the exchange. I was in despair. However, I got the knowledge.
Bitcoin has no signs of a bubble. No one can destroy it and run away with the investors' money. Here are quite different tools and principles.

[1NV3ST0NM3]

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..

I dont think the bitcoin is secure in terms of market volatility we have seen usual market crashes each day with falls of more than 30% not ordinarily seen in the stock market. If stock market can face such a fate bitcoins are no exception.

[heureca]

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/

Of course we can compare any cases with current situation at criprocurrency market. However, it seems to me that BTC cap will be increased in several times at least and considering mining costs for 1 BTC (more than 1k $) the BTC price can not be less than 1-1.5 k $

[Faroxx]

It seems to me that this will not happen. At least not now. Now the situation is different in the market, and it seems to me that if the bitcoin bubble will burst, the price will not fall below 3000$

[hatshepsut93]

There may be some similarities, but there are also many differences between dotcom bubble and cryptocurrency growing.

Stocks of dotcom companies were traded institutionally while cryptocurrencies are traded on their own specialized exchanges, meaning that it's less likely that unknowledgeable  people are investing in cryptocurrencies. They have not yet gone fully mainstream, so it's different from the dotcom bubble.

Also, cryptocurrencies had their starting value at near zero prices, so it's less extreme to see them growing dozens and thousands of times than seeing the same with companies that are supposed to have their stocks reflect the profitability of the company.

And lets not forget that some companies have survived the bubble and now prosper, so even if many altcoins will die, like many experts are expecting, Bitcoin will survive and keep growing in the long run.

[Hydrogen]

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.

The dot com bubble burst due to growth in that sector not keeping pace with the monetary investment being poured into it.

AFAIK bitcoin is growing at a steady pace with its user base doubling every 12 months. Some of the price growth could be attributed to bitcoin being undervalued over 1-2 years before the last 16 months. Investment being poured into bitcoin is different from the dot com bubble in key ways. First investments in bitcoin are more level headed. There aren't a ton of people throwing their money at bitcoin, expecting everything to turn into gold like there was with dot com. Unlike the dot com bubble there aren't a lot of start ups involved with blockchain. Many blockchain projects are run by established institutions like microsoft, walmart, maersk. There won't be a huge number of failing business ventures involving bitcoin to drag the price down like there was with dot com.

Comparing dot com to bitcoin is a bad comparison. There are few if any parallels between the two. None of which are relevent.

[Hallmader]

How do you look at the current scenario? Does it look like the Bitcoin Saga is about to fall? Well, it might be the situation from your vantage point. But as for me, and perhaps to the big community of Bitcoin supporters, it is not yet going to happen. There might come a time when what you are saying is going to happen. But not too soon. Actually, Bitcoin has gone through it and right now it is still very healthy from an investor's point of view.

[jekjekman]

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/

You have a point there though but for me it is only just a comparison to what happen to other thing way back in 2000 and it is pure speculation that it may happen to Bitcoin even it is a whole different kind of thing, Bitcoin is a digital currency while Internet is not but maybe it may happen and maybe not.

One aspect that I believe with Bitcoin is it got a limited supply of coins compare to that Internet bubble that everyone can duplicate someone else's website and ideas for their advertisement that resulted to a massive usage and adaptation that later collapsed and with that it is most likely happening to Bitcoin right now because of the Hard Fork that produces Fork coins but the good thing is it has a value that people can see which is the true and false choice.

[freightjoe]

Of course we can compare any cases with current situation at criprocurrency market. However, it seems to me that BTC cap will be increased in several times at least and considering mining costs for 1 BTC (more than 1k $) the BTC price can not be less than 1-1.5 k $

This is precisely where you are wrong. When the price of BTC falls below the cost to mine, miners will simply stop their operations. This means that anyone having Bitcoin will not be able to sell them or do anything with them. This in reality will mean their value becomes zero when you are not able to sell or buy at all.

[Juggy777]

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/

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

[freightjoe]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

[scottykarate]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

So, what is the point of this thread/your agenda?

[freightjoe]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

So, what is the point of this thread/your agenda?

Very simple - if you truly value your hard-earned money (and hence savings) get the hell out while you still can. The only thing driving the price is this religious frenzy that Bitcoin can only go up, and that party will eventually come to an end

[scottykarate]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

So, what is the point of this thread/your agenda?

Very simple - if you truly value your hard-earned money (and hence savings) get the hell out while you still can. The only thing driving the price is this religious frenzy that Bitcoin can only go up, and that party will eventually come to an end

Annnnd, in what would you suggest people invest?

[freightjoe]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

So, what is the point of this thread/your agenda?

Very simple - if you truly value your hard-earned money (and hence savings) get the hell out while you still can. The only thing driving the price is this religious frenzy that Bitcoin can only go up, and that party will eventually come to an end

Annnnd, in what would you suggest people invest?

You should not invest in anything in the world of crypto currencies or ICOs.

[jseverson]

I don't think complete parallels should be drawn between the dot com bubble with the rise of Bitcoin. They do have their similarities, but are not completely the same. Far too much money was put into dot-com companies within a really short period. For comparison using your figures, 13x the amount of money was invested in just half the entire period Bitcoin has existed, and that is without adjusting for inflation. As meteoric Bitcoin's rise had been so far, I find the two barely comparable.

In the end, it really just boils down to belief. I don't believe Bitcoin to be a bubble, but I still acknowledge that there is a risk. I believe in the technology and in the vision, and I want to see where it goes.

[scottykarate]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

So, what is the point of this thread/your agenda?

Very simple - if you truly value your hard-earned money (and hence savings) get the hell out while you still can. The only thing driving the price is this religious frenzy that Bitcoin can only go up, and that party will eventually come to an end

Annnnd, in what would you suggest people invest?

You should not invest in anything in the world of crypto currencies or ICOs.

Like Bitcoin Ruthenium?

[freightjoe]

Bitcoin is not a bubble, those centralized banker's have been saying this to avoid people to put their money in Bitcoins, if you're not aware it's crossed the value gold, Nike, it's searched more than how to buy gold. If you're already not in, you should get in now and make sure you benefit before the rally starts again, don't believe for other's see for yourself, get in now.

Wow - you are literally showing exactly why it is a bubble being fueled by extremely naive people

So, what is the point of this thread/your agenda?

Very simple - if you truly value your hard-earned money (and hence savings) get the hell out while you still can. The only thing driving the price is this religious frenzy that Bitcoin can only go up, and that party will eventually come to an end

Annnnd, in what would you suggest people invest?

You should not invest in anything in the world of crypto currencies or ICOs.

Like Bitcoin Ruthenium?

Certainly not that one - and neither any other one. That is another indication that many so-called investors on this forum are desperate ignorants. Many are simply incapable of seeing even obvious spoofs such as Ruthenium and are for sure being ripped off by criminals out there. Most people in this forum would do themselves a great favor by getting out before they lose their shirts.