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Author Topic: is bitcoin overhyped  (Read 556 times)
Youghoor
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December 03, 2017, 05:10:53 PM
 #21

And this is another guy just asking the same question that has been answered and replied thousands and thousands of times already.

It is overhyped, but what is the problem with that? The price is increasing = your balance is increasing too = our balance is going up = we are making a huge amount of money from that.

So i dont see anything wrong with that, we just need to know when to leave the market and that is it.

Or you are going to keep holding ur bitcoins while the price starts to crash?

The real question in here is, when it will crash? Because no one can answer it.


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December 03, 2017, 05:36:32 PM
 #22

I don't think bitcoins are over hyped, they have seen a great deal of increase in its value, because they have become an asset over time, every month you hear news of its value going higher, this is because bitcoins provide a highly secure way of payment and also gives a better privacy to the user and due to these reasons people have turned their attention towards bitcoin, and mind you not everybody can afford to have bitcoins, so calling bitcoins as over hyped is an overstatement

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December 03, 2017, 05:56:54 PM
 #23

I also think that Bitcoin is kind of overhyped at the moment. The rapid increase of price is not healthy. This can hurt plenty of small investors that buy in now, as soon as some big fish will start to cash out. Never run behind hype, just let it pass and wait for the next one and be prepared this time. I think it would have been much better if Bitcoin has had an organic growth throughout 2018 to the price it is traded now, but you cannot talk reasonable to the market!

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December 03, 2017, 06:12:54 PM
 #24

yeah, just like that but i dont think this bitcoin is a bubble and im sure not going to pop too. i mean every day new people come to cryptocurrency world and start learning about it so new comer new investor and the bitcoin price keep on growing
Yes, when the community will be more larger, automatically bitcoin price will increase to high due to the increase of people which they use bitcoin. Personally, I think that bitcoin will achieve the 40k$ in the next year.

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December 03, 2017, 06:20:37 PM
 #25

You have asked many questions, i will try to answer each of them.
will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?
Not really, no one throw his/her money in a pool just by seeing others doing the same, everyone who is in this business is well aware of cryptos and they know about it's worth and use.
will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?
Transaction cost have reduced a lot as compared to past and it will going to improve more with Segwit and with the next big thing which is Lightning network, cure to all these problems. No usability are you sure? Many stores and restaurants are already accepting bitcoin as payment method specially some online shops.

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?
No doubt altcoins are somehow dependent on bitcoins and have to face some serious dumps in both rapid growth and fall of bitcoin but don't worry they will also shine if the bitcoin fly high.



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December 03, 2017, 06:45:44 PM
 #26

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.


but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?
Well most of the experts around the world claim with 100% surity that bitcoin is a bubble and then comes this community we have here which says that you are not able to see the future potential in this currency. But yes its true that some people are investing in cryptos quite foolishly. personally I think bitcoin will increase in its value and it will become good as investment but don't rely much on it as a currency.

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December 04, 2017, 04:17:36 AM
 #27

No. This is merely the beginning. 2017 is a good year for bitcoin, the year most number people took notice. Traditional Media outlets flashing BREAKING NEWS on its record surge. Cryptocurrency is the thing of the future.

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December 04, 2017, 04:22:57 AM
 #28

Yes, it is. But it's good for us, so let's hype it too Smiley

Agree. I think Bitcoin has all the rights to be overhyped  Grin Its been here for years now and it already has a name trusted by a lot of people worldwide. It probably just lately that it became more popular and its been all over the news so I guess let's just enjoy what it brings to us investors for now  Wink

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December 04, 2017, 04:29:12 AM
 #29

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.


but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?
Well most of the experts around the world claim with 100% surity that bitcoin is a bubble and then comes this community we have here which says that you are not able to see the future potential in this currency. But yes its true that some people are investing in cryptos quite foolishly. personally I think bitcoin will increase in its value and it will become good as investment but don't rely much on it as a currency.

You all line up to spew so much stupid bullshit it's not even funny.. it's downright scary !

One guy says yeah it's Overhyped but that is not a bad thing.
Really ? Gimme a break  Roll Eyes

The guy I quoted here above said "..become good as investment but don't rely much on it as a currency"
Uhhmm what ? ahhahahahhahahah  Cheesy
Then WHY the fuck are you investing in it then ?
Because the price is going up ?
HOLY FUCK YOU PEOPLE ARE STUPID !

You all think you're such experts ?
Google search PYRAMID SCHEME investards  Roll Eyes

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December 04, 2017, 04:45:45 AM
 #30

 Replying to the bubble dilemma- whether speculative or not, I personally don't see bitcoin crashing down to zero unless the market is gulped up by CME, NASDAQ, etc... They'll determine the price points in that case so that they'll be inline with their futures contracts. "It takes money to make money" is the phrase most of the bitcoin community seems to be ignoring.

 With that being said, if all of the HODLr's stuck together and sold in the million dollar range, I believe the price would continue to climb in that scenario. The chance of them wanting to sell is slim to none, even if it could prevent them from losing their investment and furthering the longevity of cryptocurrencies.
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December 04, 2017, 05:15:07 AM
 #31

This is about hypebeast, Bitcoin has been popular in this world because of news and people who tell their story with bitcoin. You know most of people have interests with bitcoin because their friends tell them about bitcoin price, talking about how to be a billionaire in one day only, so people spend their money and start buying. Because those hypebeast wanna be a billionaire!
But it's a good thing, more people buy is more demand, so we can pray to see 1 bitcoin = $1million. Bubble? I don't think so.

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December 04, 2017, 05:19:02 AM
 #32

You could say Bitcoin is hyped, in order to increase the price. But this huge price rise is not only because it was hyped. Bitcoin has an enormous potential and the fact that it's a decentralized currency, which made it so popular, have made this high price possible. Also because the financial institutes saw a new product to make big profits with.

The hype over bitcoin has definitely contributed to the increase of price but I believe that bitcoin is not overpriced. It has sparked the interest of many and made a lot curious about it however it’s still very much in the dark. Some investors experience FOMO upon hearing it and are eager to invest on it immediately. It’s becoming more and more popular because of this.
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December 04, 2017, 05:21:25 AM
 #33

In my opinion, bitkoyn is indeed overvalued in price and has in this connection some properties of the bubble. So, the majority of people who invest in it do not do it for the sake of some internal value of bitcoins, others have some useful qualities, but for the sake of getting a big profit, proceeding from the fact that for a long time it continues to grow in value. Such a sharp demand for bitkoyn leads again to an increase in its rate, which leads to new investments in it. Thus, everything goes in a circle and in the end we have a regular financial bubble that can sometime burst.

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December 05, 2017, 08:32:12 PM
 #34

I am loving the creative spelling of the word "Bitcoin" from pajeet noobs.  hahahahha
"bitkoyn" ?  Cheesy

People it's pretty simple.
Did Bitcoin rise up in value from a grand to 10 grand because of it being used as intended (as a currency) ?
No ?
Then why ? The answer is staring you in the face.. or in the Altcoin section.
Where every noob chump loser keeps posting "What coin should i buy to make me rich ?" over & over.

What *IS* and the moronic rabble that gets posted here all the time are two different things.

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December 05, 2017, 08:40:49 PM
 #35

Your opinion about this? www.bloomberg.com/amp/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange
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December 05, 2017, 08:59:14 PM
 #36

Watch what Da Hongfei, CEO of NEO, says about BTC bubble. Yes, even if it s a bubble, so what. All great tech which used to disrupt the previous systems were bubbles. Card, internet, etc. The most important thing is that even if there would be a small price retreated, they would always come back to even higher levels.

So stop thinking about what price will be tomorrow. Think about the price in 5 years!
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December 05, 2017, 09:08:03 PM
 #37

It is the normal rise, No hypes, let me give a sample...
If you own a product that does not  get consumers  attentions at the beginning of your distribution, what would happen with your price?
Won't you sell cheap to attract customers, even if it would be there first time, and after then, and it has been tested to be awesome they will all be seeking to get your product, just for any cost, why? Because it is fantastic...

Then you began to have shortage in supply unlike when you started,  what then would be the next option?
The Next thing a good business men would do is, to inflates the price of there product, to get the serious, desperate buyers out of the whole seeking to buy. This has been the logic in market...

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December 05, 2017, 09:12:46 PM
 #38

I think we aren't going for a bubble. Bitcoin has high chance to replace the current financial system if we continue to upgrade it (by making transaction even faster and cheaper). SegWit1x has already solved that problem but less than 15% of transactions are made with SegWit addresses. In my opinion, it is caused by popular exchanges and web wallets which haven't added support for it yet. We are still far from seeing full capabilities of Bitcoin. $11k dollars is still way too cheap if you take into account that there are only 21 million bitcoins.
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December 06, 2017, 05:50:54 AM
 #39


Look at those resume's then look at how non transparent it all is.
What do you think ?

The enemy which BTC was designed to circumvent showed up here and took all your money people.
What is the point in putting out a currency that works with Bitcoin ?
Why not just make Bitcoin work as intended ? (as a currency)
Tether stinks and i sure as hell would have nothing to do with it ever.

On Topic though..
  Wink

You are scammy noobs posting retarded gibberish.

https://en.wikipedia.org/wiki/Stock_market_bubble
https://en.wikipedia.org/wiki/Stock_market_crash
https://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds

Quote
A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles.

Stock market crashes are social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions:[1] a prolonged period of rising stock prices and excessive economic optimism, a market where P/E ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants. Other aspects such as wars, large-corporation hacks, changes in federal laws and regulations, and natural disasters of highly economically productive areas may also influence a significant decline in the NYSE value of a wide range of stocks. All such stock drops may result in the rise of stock prices for corporations competing against the affected corporations.

There is no numerically specific definition of a stock market crash but the term commonly applies to steep double-digit percentage losses in a stock market index over a period of several days. Crashes are often distinguished from bear markets by panic selling and abrupt, dramatic price declines. Bear markets are periods of declining stock market prices that are measured in months or years. Crashes are often associated with bear markets, however, they do not necessarily go hand in hand. The crash of 1987, for example, did not lead to a bear market. Likewise, the Japanese bear market of the 1990s occurred over several years without any notable crashes.


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December 06, 2017, 06:36:54 AM
 #40

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

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