☃☃☃ The Bitcoin Dream ☃☃☃

[ShortCoins]

Everyone is hoping that bitcoin will continue to rise in price indefinitely.

They look at the growth from $0.003 to $18000 and think that bitcoin is unstoppable


Is everyone buying into a dream that is too good to be true? How can bitcoin go up over 6 million times its original value without approaching a bubble? A $100 investment in 2010 would be worth $600,000 dollars! Where the heck does that "value" even come from. Bitcoin produces no revenues and provides no tangible assets. How can a $100 investment be worth $600,000 after 7 years? You can't just make $600k from scratch without there being losers involved. So who are the losers going to be when this wild ride is all done?

I think once the bubble bursts, people will get stuck with their worthless digital currency and the dream will finally come to an end.


People are investing with their heart, not their brains.


This feels exactly like the dot-com bubble. Yes crypto and specifically the block chain are incredible innovations, and that is what is fueling such massive excitement. When the smoke clears, reality is going to smack a lot of people in the face. Investors need to start thinking about exit strategies. A ton of money is going to be made on crypto - IN BOTH DIRECTIONS. Go ahead and keep riding the wave up, but start getting prepared to also ride the wave down. Billions will be made in 2018 or later off of SHORTING crypto. The current prices, especially bitcoin and the major alts, are just unrealistic.

#CryptoCrash2018

[John Langut]

Bitcoin investors are betting on the possibility of Bitcoin replace fiat as the primary currency. Imagine being among the first people to discover gold and owning the world's most valuable asset.

[harrypotter1229]

I have to say bitcoin is foam, but bitcoin is not a bubble. I think there will be many applications combined with bitcoin in the near future. It has an intrinsic value.

[ShortCoins]

Or will the robots equally to scream?
Bitcoin is good!!!!!!!! Everyone will have money and get rich !!!!!!!

It does feel like people are delusional when it comes to this. Rich is a relative term. You can't be rich without someone being poor.

That same concept applies to bitcoin profits. Everyone can't make 1000x their money or more. There has to be losers. There's going to be a giant wakeup call whenever Bitcoin starts to trend down. I think the drop will be even faster than the rise was.

[carrash912]

Bitcoin's boom in the market, explained by CNN's financial advisor, may be due to three reasons: First, the buying from Chinese investors is so great; Second, the belief that this currency will grow, pushing up the value of the currency; Third, buyers may be eagerly awaiting Goldman Sachs to buy and sell this currency

[OrcaTech]

Exactly! When I argue with people whether bitcoin is bubble or not, I always mention dot-com bubble in late 90s. They are way to similar. I think that if the BTC price won't stop growing so fast the bubble will blow eventually.

[ShortCoins]

"But when you take a hard look at the last few years, it’s hard to deny that the run-up is starting to look shaky. And compared with past events, the rise of cryptocurrencies has all the hallmarks of a disaster waiting to happen."

"Unsurprisingly, this one-dimensional view encourages a herd mentality. While early adopters tend to have at least peripheral knowledge of the investment in question, eventually those without any understanding of finance or investing are sucked in simply by the promise of returns. Case in point: Nearly 1 in 3 millennials would rather own bitcoin than stocks, according to a November report"

"If you’ve made a ton of money in bitcoin then good for you. But new money needs to know the state of play and heed these warning signs before simply jumping in. Because at best it’s a mature rally that has already achieved much of its gains, and at worst it’s a recipe for disaster as you buy at or near the top."

https://www.marketwatch.com/story/yes-the-rise-of-bitcoin-has-all-the-hallmarks-of-a-disaster-waiting-to-happen-2017-12-12

[fanbeila]

Its true that bitcoin is not backed by any assets.The main reason people like to invest in bitcoins is it has various positive factors.First it is free from the hands of government.So people find it to be a safe haven.Secondly,it could not be hacked when kept safely in a wallet.Thirdly it has a limited supply of only 21 million dollars unlike USD and gold which are found to be infinite.So its free from inflation.More over,increasing demand has made its price to skyrocket.All these factors have paved the way for bitcoin to reach such a high price in very small duration of time.

[CoinOnTheBeach]

bitcoin does not have to be backed by any assets.
it is at the moment regulated by the rules of demand and supply.
the more people put their trust in it (bu acquiring it) the more its value will raise.

[ShortCoins]

bitcoin does not have to be backed by any assets.

Yeah. Its not like fiat is backed by assets. That's not what this thread is really about though

How can a market cap increase 6 million times without any significant advancements in technology etc. Without anything tangible being created and without any real value added. It doesn't make sense. I don't think bitcoin can retain a price point that is 6 million times higher than it was 7 years ago. People are going to start cashing in eventually, and the price is going to plummet

[shezu007]

bitcoin does not have to be backed by any assets.

Yeah. Its not like fiat is backed by assets. That's not what this thread is really about though

How can a market cap increase 6 million times without any significant advancements in technology etc. Without anything tangible being created and without any real value added. It doesn't make sense. I don't think bitcoin can retain a price point that is 6 million times higher than it was 7 years ago. People are going to start cashing in eventually, and the price is going to plummet

There are two type of dream, 1 dreams of the day time, which can only be seen and never become into beings. It is totally the thinking. 2. The dream of midnight which has more chance to came into beings. The Bitcoin dream is better than those two because it is more possible with bitcoin that your dream become into beings if you work hard with bitcoin.So the dream of bitcoin is real but it need a hard work or invest in bitcoin.

[ShortCoins]

There are two type of dream, 1 dreams of the day time, which can only be seen and never become into beings. It is totally the thinking. 2. The dream of midnight which has more chance to came into beings. The Bitcoin dream is better than those two because it is more possible with bitcoin that your dream become into beings if you work hard with bitcoin.So the dream of bitcoin is real but it need a hard work or invest in bitcoin.

WTF did I just try to read? Are you dreaming right now...

[likeBTC]

everybody is looking to get rich by just using bitcoin, and there is nothing new with this, you need to be ready to see thousands of replies in here about saying that bitcoin is the same thing, because they will always say the same.

Bitcoin has been changing a lot since it has been developed for the first time, it was going to be a new way to revolutionate money, but now it is a fast rich scheme for a lot of people.

[ShortCoins]

 Real money is being cashed out to pay for mining expansion which will cause real environmental issues if this keeps up. I wonder what Bitcoin's contribution to global warming is, and how many people will ultimately lose their lives or homes as a result in the long run just from the idiotic waste of energy

The cryptocurrency has wowed markets this year with breakneck gains as investors flocked to an asset that exists only in cyberspace. But the laborious creation of each digital bitcoin by private computer networks has real-world consequences in the form of massive energy use -- including from fuels that cause the most pollution.

Eight 100-meter-long metal warehouses in northern China are a case in point. Bitmain Technologies Ltd. runs a server farm in Erdors, Inner Mongolia, with about 25,000 computers dedicated to solving the encrypted calculations that generate each bitcoin. The entire operation runs on electricity produced with coal, as do a growing number of cryptocurrency “mines” popping up in China.

(Source: Bloomberg)

[joinfree]

I AM GLAD THAT YOU WILL BE BANNED SOON FROM HERE.

 
#CryptoCrash2018

You are a piece of shit, you are not even entitled to have an account in here because we all know that you are a troll, IT IS DESPERATING TO SEE THAT THERE IS STILL PEOPLE REPLYING TO YOU.

They are only doing it in order to increase their activity, but they do not realize that you are just a fucking troll.

[MJunioR]

This dream can be really coming real in the following months. I never expected to see BTC this big in a short period growth.

[Snaic]

Bitcoin investors are betting on the possibility of Bitcoin replace fiat as the primary currency. Imagine being among the first people to discover gold and owning the world's most valuable asset.

What is valuable gold? The fact that it is metal, which in its natural form is found in nature and its very little on earth. It's just that people agreed that gold would be a measure of value. If now there were discovered large deposits of gold somewhere, it would have immediately depreciated, since it has no great internal value. Bitcoin is also similar in this respect to gold. It is limited to 21 million and the demand for it serves as a contract of people on the quantitative side of its measure of value. Bitcoin, on the one hand, can be called a financial bubble, and on the other - it grows according to the laws of the market.

[screwUdriver]

This dream can be really coming real in the following months. I never expected to see BTC this big in a short period growth.

There is all the prerequisites over the next fifteen years, over 50% of the world's population to use a bitcoin or other similar digital currency on a daily basis. Like Internet development, this technology is slow and difficult,but with time it becomes a desirable dream

[gantez]

Its true that bitcoin is not backed by any assets.The main reason people like to invest in bitcoins is it has various positive factors.First it is free from the hands of government.So people find it to be a safe haven.Secondly,it could not be hacked when kept safely in a wallet.Thirdly it has a limited supply of only 21 million dollars unlike USD and gold which are found to be infinite.So its free from inflation.More over,increasing demand has made its price to skyrocket.All these factors have paved the way for bitcoin to reach such a high price in very small duration of time.

You are quite right as to why people like to invest in bitcoin but the major reason for the patronage is because of its limited supply which $21 million. So, investors are mindful of that so that anytime it gets beyond that, it obviously means something has gone wrong.

In other words, Bitcoin limited supply also serve as a check to it

[vv181]

bitcoin does not have to be backed by any assets.

Yeah. Its not like fiat is backed by assets. That's not what this thread is really about though

How can a market cap increase 6 million times without any significant advancements in technology etc. Without anything tangible being created and without any real value added. It doesn't make sense. I don't think bitcoin can retain a price point that is 6 million times higher than it was 7 years ago. People are going to start cashing in eventually, and the price is going to plummet

Well, yes the real value of Bitcoin is still a mystery, but the Bitcoin architectures have been trusted and known by the mainstream, so that's the answers why bitcoin is on hype right now. We all can agree on everything that goes up so fast, will go down in the same way. and I believe the panic seller will also help the correction is nastier.

There are two type of dream, 1 dreams of the day time, which can only be seen and never become into beings. It is totally the thinking. 2. The dream of midnight which has more chance to came into beings. The Bitcoin dream is better than those two because it is more possible with bitcoin that your dream become into beings if you work hard with bitcoin.So the dream of bitcoin is real but it need a hard work or invest in bitcoin.

WTF did I just try to read? Are you dreaming right now...

Epic!