Investing in Bitcoin now is the same as stealing

[freightjoe]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

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[emuLOAD]

My question is... how big a fool is the chap that thought about buying a few bitcoin in 2011 and chose not to?

[vestenvinden]

Well if you consider that as stealing.

Then stock exchange trading is also stealing.

And then its also stealing to put money in the bank and collect interests...

[pedrog]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

How do you know "Bitcoin is deep into a bubble"?

Do you have any concrete data to backup such statement or is just your opinion?

[freightjoe]

Well if you consider that as stealing.

Then stock exchange trading is also stealing.

And then its also stealing to put money in the bank and collect interests...

You clearly have no idea at all about the difference between stocks and Bitcoin. Seems you are most certainly in the greater fool category. Good luck with that.

[freightjoe]

My question is... how big a fool is the chap that thought about buying a few bitcoin in 2011 and chose not to?

He was indeed clever - I am talking about the obvious bubble that has been blown up over the past 12 months.

[freightjoe]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

How do you know "Bitcoin is deep into a bubble"?

Do you have any concrete data to backup such statement or is just your opinion?

Anyone disputing that Bitcoin is now clearly in a bubble is quite simply either blind or deeply unintelligent

[eckmar]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

Don't be stupid. There is always now and then a post like this and always someone explains why Bitcoin cannot be a bubble or anything like that. Price is not increasing because of Speculation but because of number of people that are using it and there is limited number of Bitcoins to ever be produced which increases value dramatically.

[freightjoe]

Don't be stupid. There is always now and then a post like this and always someone explains why Bitcoin cannot be a bubble or anything like that. Price is not increasing because of Speculation but because of number of people that are using it and there is limited number of Bitcoins to ever be produced which increases value dramatically.

Seems you are the fool here.

Almost no-one is using it for payments - the extremely high fees makes Bitcoin completely useless for practical payments. 

The vast majority of people buying Bitcoin now is doing it because they expect it to increase in value. That is speculation. Just look at everyone in this forum - it is all about how much money you can make buying Bitcoin.

[shacc]

you still want to say that bitcoin is a bubble, and now stealing from others,
be sure that no one was forced under army to buy bitcoin or to deal with it

[pedrog]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

How do you know "Bitcoin is deep into a bubble"?

Do you have any concrete data to backup such statement or is just your opinion?

Anyone disputing that Bitcoin is now clearly in a bubble is quite simply either blind or deeply unintelligent

I'm not disputing anything because there's nothing to dispute, I'm waiting for you to present your arguments and only then they can be disputed.

[Puroc]

It's a no... My friend..
Stop making wrong assumptions on bitcoins....
lols....

[freightjoe]

Without the fool and greater fool there is no money in BTC.
These kind of people are needed for business so that money will circulate.

Well said

[coinSpecter32]

I don't think is bitcoin is the same as stealing. Stealing is somewhat getting money without your consent. Bitcoin is the other way around, we had been into bitcoin because we want to earn. We are not forced to do it. Is it a pyramiding scheme?, I don't also think so.

[freightjoe]

I don't think is bitcoin is the same as stealing. Stealing is somewhat getting money without your consent.

If you see a small child who has 100$, you can go to that child and ask if it wants to give you the 100$ if you give the child a small piece of candy.

You are saying it is ok to trick the child like this because there is consent. I would call this stealing.

....and yes, many so-called investors in Bitcoin seem to have the intelligence of a child when you read what is posted in here

[Travel Token]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

You can't call it 'stealing'. It's not only about bitcoin, this is how market works. Every business is based on fact, that fools spend money and businessman makes money.

[freightjoe]

You can't call it 'stealing'. It's not only about bitcoin, this is how market works. Every business is based on fact, that fools spend money and businessman makes money.

You clearly have absolutely no idea how a market works. I truly hope for you that you have not invested in anything

[Thanasis]

To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.

But investors can still make money.

The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).

This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.

But, as anyone with half a brain knows, as this is purely a bubble it also means something else.

It means that any investor that buys now can only be one of two types of people:

- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.

Therefore, if you have been buying Bitcoin in the past months, ask yourself:

Are you a thief or are you a greater fool?

There is no explanation for that bitcoin will be a bubble,so if you think bitcoin will bubble someday then you better sell all of your bitcoins now or else you will be great fool.

But I never think bitcoin was a bubble I hope it is the future currency of the world,many people understand this and they want to buy the bitcoins as soon as possible because the price keeps increasing everyday.If you think bitcoin was just an asset then you are wrong bitcoin was found to be used as a currency without any third party,but people are smart and they can earn money with the price volatility.

[weekofcrypto]

How many different prices point has Bitcoin been in a bubble?

At $800....bubble
At $1800....bubble
At $2500....bubble
$5,000? Bubble.
$10,000? Has to be a bubble!

At any of these prices there were people saying the fad was going to be over. However, it seems that anyone that bought at those prices probably made a lot of money.

I'm not saying we're not in a bubble. I'm not saying its a good time to buy. I'm just so sick of the definitive sides that people want to take.

I personally and a BIG believer in cryptocurrency as a whole. I'm not completely sold on Bitcoin due to transaction times and fees, but I strongly believe that a lot of cryptos will become big over the years. In the meantime we can only speculate and see.

[kangbasir]

I think everybody has a different way of thinking there are mengkap investing bitcoin as well as stealing, in my opinion is not.