Investing in Bitcoin now is the same as stealing

[pedrog]

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.

The eternal bubble.  

https://www.vanityfair.com/news/politics/2013/04/logic-problems-bitcoin-bubble

[FRJ]

  seems you had decided to make your words win.Good.Keep it up.But I think you have misunderstood something. Investing bitcoin cannot be same as stealing.We work with bitcoin only to earn money.Earning bitcoin how can be stealing bro?

[pawanjain]

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.

I don't agree with you mate, as everyone knows that some people obey and follow the bitcoin as investing product and some follow it as a bubble. Well,  i have no issues with buying the bitcoin on dips because I know the reason behind the buying and I plan the trades and buy according to my trade plan. Yes, there is some level of speculation going on here but doesn't mean it is really foolish to buy or it's a kind of foolish play. Then every trading market like Stock market, forex market and commodity markets are also fools play and people are stealing over there. Remember onething that if you are buying without knowledge or reason then everything you do prove's that you are a fool.

[EllaPonchik]

Why the thief? Investors do not steal money, but try to earn money. If you do not succeed, you're a fool? I think there are not many attempts, and before you go into this, you need to study everything carefully.

[Caesar-Giulius]

From your explanation, anything can be related to the theory. Most of the assets, rare gems and etc are priced this way. Willing buyer and willing seller set the price.

[eckmar]

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.

That is situation from the last 30-40 days, what about last 8 years ?

It looks to me like you are probably pissed at yourself because you bought at 19k and sold at 13k or something like that and now you are ranting all over the place hoping that you are not the only newb here

[nikjain422]

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?

This kind of allegation has been put up by many people with there imaginary story but don't you think your allegation is for whole crypto world or whole trading world because this happens in all sort trading price dips and rises and that's the whole usp of trading.No one is fool here buddy,the investor in your story doesn't think that he also wants profit.If he does what he is doing don't you think that weakens once portfolio and nobody would invest in future.Real Investors not buy when the prices are rising but they also do trading in dips and we are earning good.Trading is bluff and everybody plays them in their own way.

[dbutp]

I do not think so . Investing in bitcoin is the right choice. We invest in it to get back the profits, not the scams to make a profit. It is completely legal and no aunt called illegal here

[Giamme]

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?

Bitcoin been a bubble is an opinion not a fact.
And I think that the greater fool theory dosen't apply if both parts(seller-buyer) doesn't think this is a bubble, if the buyer thinks it's a bubble, if both thinks it's a bubble. It does apply only if the seller thinks it's a bubble and knows that the buyer doesn't think this is a bubble.

[AVAMONEY]

We do not need to make exaggerated assumptions. At first people have not many who believe in Bitcoin or invest. Similar to investment in stock, not everyone thinks that stock will be profitable, except those with far-sighted thinking.
Trading futures are done by wall street with collective actors from many countries, they have received bitcoin as an asset for trading not because of its rich quickness, but because Bitcoin has grown and spread to the whole world and will become the official currency if regulations have been put into effect all.

[n0ne]

If that's the true understanding then you're a fool and upon your view each and every people involved in some sort of money making business is a fool. Growth happens with each and every form of investment as well hyip's, it's up to us how we pick the right or the best out of the entire list.

[Crypington]

People should never feel bad about making money.  When I started buying in, it was at $2000 and I knew it could crash to $200 the next day, but I also saw the upside.

It is not foolish to take a calculated risk into a high volitility market place.  It is only foolish if you are risking more than you can afford to lose.

[teejaymuna]

I don't think investing in Bitcoin is now stealing. No one is stealing from the other it's just business and a buyer of Bitcoin will still make some profit somewhere down the line. It's just a system and that's the way it is. How about putting money in the bank for some profit?

[buwaytress]

Right. Haven't looked at these kinds of posts in a week, thought they'd have died out by now. Same person and all his alts behind them possibly? What's your game, mate? Stealing means taking something that is not yours. It doesn't get any simpler than that. Even if Apple charges a million dollars for a super brand new iPhone, and someone was willing to pay for that, that's all fair and correct. No matter what price Bitcoin is at, when someone buys is, they pay what they're willing, and that's it. People put different price tags on it, we all have our price. There's no thief, there's nothing to steal. What does this make you, anyway, for you surely own or owned Bitcoin.

[SHAWN-MIDWAYS]

The essence of using bitcoin is financial freedom and its partial anonymity, it has nothing to do with stealing...

Before it gets labelled with all sorts of names lets understand why the digital currency was first developed

[1bitcoinsnet]

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?

With the market cap of all crypto coins getting near 1 TRILLION

The fools are those who refuse to admit a seismic shift to crypto is occuring

Crypto is now bigger than every major US company

So as it roars past 1 trillion then 2 trillion do you grasp how much some coins will be worth

If you don't have some crypto at this point you are the fool

BTC is the favorite amongst investors

But you have many other major cap coins
Eth
Xrp
Bch
LTC

Then many lesser nice coins

Will all the coins increase of course not but soon many will be at levels where the winners that look expensive today are considered dirt cheap in the future

Not buying into crypto only steals from your future wealth

Crypto is here to stay like the net

You get with it or you have stolen from your own wealth knowing how big it is now and what happens as it grows

[masterchief001]

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

I think his assessment is completely wrong, bitcoin is really a product of technology, and it deserves the attention of everyone. Its value is increasing.