How to avoid BTC booming too fast? (like the housing bubble?)

[Interized]

Explain how people aren't transacting in it "yet".

I did above.

People do 1 transaction per second in bitcoin network, whereas people do thousands transactions per second in visa/mastercard networks.

Meaning that bitcoin is carrying out just a store of value money function right now, not an exchange or trade goods and service for it functions.

Same goes for Litecoin, it's a store of value as of this time.

So how is BTC different from LTC?

Refer to the chart and response I already had to this. You believing people aren't using BTC for transactions is just crazy wrong and it appears you have been away for a few years.

Plenty of charts online for you to look at besides the one I linked you to.

[laowai80]

Refer to the chart and response I already had to this.

There is nothing to refer to, your chart is irrelevant to my arguments.

You believing people aren't using BTC for transactions is just crazy wrong and it appears you have been away for a few years.

I am not believing anything, I see numbers and compare them.
Can you compare 1 with 1000s, which one is bigger?

[Interized]

Refer to the chart and response I already had to this.

There is nothing to refer to, your chart is irrelevant to my arguments.

What? They are direct responses to said arguments.

You for some reason believe people aren't transacting by Bitcoins.

[laowai80]

You for some reason believe people aren't transacting by Bitcoins.

Yes, they do, 0.00001% people of the world transact in bitcoins, that is so mainstream.
And even that 1 measly transaction per second for the entire planet is mostly for speculation, not for purchasing goods and services.

LTC is exactly the same, I don't see how it's different from Bitcoin and have yet to hear any arguments from you.

[Interized]

You for some reason believe people aren't transacting by Bitcoins.

Yes, they do, 0.00001% people of the world transact in bitcoins, that is so mainstream.
And even that 1 measly transaction per second for the entire planet is mostly for speculation, not for purchasing goods and services.

You entirely miss the point of me showing you that chart.

All those currency systems are linked with each other, giving them the appearance that they are so much more greater.

You greatly over value certain medians for exchange.

Just like people did in the housing bubble.

The global currency systems are about to all suffer very hard and a time will come for action.

People/countries invested heavy in traditional currency systems that were backed by government/banker/business control instead of something like gold.

Bitcoin has already created a system that self adopts to the peoples needs.

Everyone is dumping traditional currency into assets. In other words, people aren't trusting government (other people) but rather forces that aren't controlled by humans, such as gold or Bitcoin (governed by computing power etc).

We are entering dog-eat dog systems where only one will survive.

Why use Alt coins when Bitcoin is at the same time the first decentralized currency and a Alt coin (since it adapts to global community needs).

We don't need a "Alt" coin to Bitcoin it in itself is a Alt coin.

Litecoin is just like PayPal and Visa.

One is more powerful than the other, the first, original etc.

[laowai80]

Litecoin is just like PayPal and Visa.

One is more powerful than the other, the first, original etc.

So, by this statement you confirm my position that some alt-coins will survive and even prosper.
Visa and Paypal survive and prosper along side with other digital fiat systems, people use different systems, because some of them offer more convenience than others, different features, better customer support than others.

Why would it be different with cryptos?

Even when people move from fiat into cryptos, why would they move to Bitcoin only and ignore others? Others are technically the same or about the same with minor not relevant differences. And like I said before, infrastructure is a matter of time, and Bitcoin can't boast of a large infrastructure yet, very few merchants use it, very few customers buy with it. 1 transaction per second for the whole world in bitcoin network is proof of that.

[Interized]

Litecoin is just like PayPal and Visa.

One is more powerful than the other, the first, original etc.

So, by this statement you confirm my position that some alt-coins will survive and even prosper.
Visa and Paypal survive and prosper along side with other digital fiat systems, people use different systems, because some of them offer more convenience than others, different features, better customer support than others.

Why would it be different with cryptos?

Even when people move from fiat into cryptos, why would they move to Bitcoin only and ignore others? Others are technically the same or about the same with minor not relevant differences. And like I said before, infrastructure is a matter of time, and Bitcoin can't boast of a large infrastructure yet, very few merchants use it, very few customers buy with it. 1 transaction per second for the whole world in bitcoin network is proof of that.

People like simple systems when it comes to dealing with technology.

The masses will never adopt away from a currency that is already adaptable within one system. They want the best and involving as little people/time as possible.

In other words, yes computers are taking your jobs.

Any other Alt coin besides Bitcoin is just echoing and playing catch up that is doomed to crash once and for all.

Litecoin will never serve a good purpose and can only collapse within itself along with the Alt coins after that.

People do enjoy Ponzi schemes though, and the Ponzi market is being taken over by "Alt coins".


 

[laowai80]

Any other Alt coin besides Bitcoin is just echoing and playing catch up that is doomed to crash once and for all.

Litecoin will never serve a good purpose and can only collapse within itself along with the Alt coins after that.

People do enjoy Ponzi schemes though, and the Ponzi market is being taken over by "Alt coins".

The more I read these ungrounded statements the more I'm convinced it's just remorse on your part for selling LTC too soon.

[Interized]

Any other Alt coin besides Bitcoin is just echoing and playing catch up that is doomed to crash once and for all.

Litecoin will never serve a good purpose and can only collapse within itself along with the Alt coins after that.

People do enjoy Ponzi schemes though, and the Ponzi market is being taken over by "Alt coins".

The more I read these ungrounded statements the more I'm convinced it's just remorse on your part for selling LTC too soon.

I sold LTC that I mined for nothing when it first came out, this has nothing to do with my feelings.

[laowai80]

I sold LTC that I mined for nothing when it first came out, this has nothing to do with my feelings.

Then what exactly did you mean when you said 'I had 3000 LTC, believe me'? What am I supposed to believe? You're a miner, maybe a good one, I don't know. But miners are usually not good at trading or foreseeing future economic and currency trends, otherwise they'd be better off trading, coz it's more profitable, compared to mining operations where profits are marginal.

[empoweoqwj]

Boobs are good. It's the crashes that follow that are bad. Or not depending on how you take advantage of the situations.

FTFY.

LMAO. But what's a "boob crash"?

[CompNsci]

The housing bubble and subsequent crash was caused by government interference in the economy (Freddie Mac, Fannie Mae). It's not clear that the speed of the rise was the primary cause of the problem.

[theecoinomist]

at this point i would rather it boom really fast rather than steady, not just for the sake of $ gains.. but once it gets so big, it gets more difficult for government to regulate and stop.

indeed, bitcoins market cap is only 40% of Inktomi's during the .com-bubble, it will sure be interesting to see once/if it's market cap will be equal to that of Apple/Exxon/Berkshire

[skivrmt]

at this point i would rather it boom really fast rather than steady, not just for the sake of $ gains.. but once it gets so big, it gets more difficult for government to regulate and stop.

indeed, bitcoins market cap is only 40% of Inktomi's during the .com-bubble, it will sure be interesting to see once/if it's market cap will be equal to that of Apple/Exxon/Berkshire

Bitcoin at 10k would be ~120B market cap if my high school math still works, it may not.   Not many companies, stocks, etc, have a market cap that large.  Not if its a currency...that's a whole different story on currency market cap...

[empoweoqwj]

at this point i would rather it boom really fast rather than steady, not just for the sake of $ gains.. but once it gets so big, it gets more difficult for government to regulate and stop.

indeed, bitcoins market cap is only 40% of Inktomi's during the .com-bubble, it will sure be interesting to see once/if it's market cap will be equal to that of Apple/Exxon/Berkshire

Once it gets very big, it forces governments to regulate, rather than "gets more difficult" IMHO

[skivrmt]

at this point i would rather it boom really fast rather than steady, not just for the sake of $ gains.. but once it gets so big, it gets more difficult for government to regulate and stop.

indeed, bitcoins market cap is only 40% of Inktomi's during the .com-bubble, it will sure be interesting to see once/if it's market cap will be equal to that of Apple/Exxon/Berkshire

Once it gets very big, it forces governments to regulate, rather than "gets more difficult" IMHO

That's an interesting statement because it's basically what happened.  No government, basically anywhere in the world, took notice of Bitcoin until it's value increased greatly in price.  Now that is has a market cap of ~$10B, governments care because of what it is and what it may become.  It will threaten some of them and they have taken notice.  As it becomes more mainstream, and increases in value, you'll see more governments taking action, some positive, some negative.

[hilariousandco]

at this point i would rather it boom really fast rather than steady, not just for the sake of $ gains.. but once it gets so big, it gets more difficult for government to regulate and stop.

indeed, bitcoins market cap is only 40% of Inktomi's during the .com-bubble, it will sure be interesting to see once/if it's market cap will be equal to that of Apple/Exxon/Berkshire

Once it gets very big, it forces governments to regulate, rather than "gets more difficult" IMHO

That's an interesting statement because it's basically what happened.  No government, basically anywhere in the world, took notice of Bitcoin until it's value increased greatly in price.  Now that is has a market cap of ~$10B, governments care because of what it is and what it may become.  It will threaten some of them and they have taken notice.  As it becomes more mainstream, and increases in value, you'll see more governments taking action, some positive, some negative.

Why would governments take notice until something becomes valuable to them. It's natural that regulation will come.

[empoweoqwj]

at this point i would rather it boom really fast rather than steady, not just for the sake of $ gains.. but once it gets so big, it gets more difficult for government to regulate and stop.

indeed, bitcoins market cap is only 40% of Inktomi's during the .com-bubble, it will sure be interesting to see once/if it's market cap will be equal to that of Apple/Exxon/Berkshire

Once it gets very big, it forces governments to regulate, rather than "gets more difficult" IMHO

That's an interesting statement because it's basically what happened.  No government, basically anywhere in the world, took notice of Bitcoin until it's value increased greatly in price.  Now that is has a market cap of ~$10B, governments care because of what it is and what it may become.  It will threaten some of them and they have taken notice.  As it becomes more mainstream, and increases in value, you'll see more governments taking action, some positive, some negative.

Why would governments take notice until something becomes valuable to them. It's natural that regulation will come.

Because governments have limited time to enact regulation. They weren't interested in bitcoin 2 years ago because bitcoin was irrelevant in terms of revenue. Its no coincidence government regulation started happening in 2013 when the price skyrocketed

[jr3951]

At one point I had over 3000 LTC when it wasn't worth anything, believe me, I know.

Alt systems are just acting as a ponzi, all dumb money.

If anything forks will be created within Bitcoin itself to solve an issue people aren't sure of.

So you say you had 3000 LTC, meaning you made a mistake selling them before they appreciated. Why would anyone believe you then and what exactly do you know since you didn't know to keep your LTCs and sold too early? LTC seems to be doing fine, is it because you sold too early and now biting your elbows for that you wish death for alt-coins? They wouldn't care about that, they'll keep surviving and diluting bitcoin value. Because technically they are equal to bitcoin, they only lack in infrastructure, but that's just a matter of time. Not all alt-coins will survive, only those that have serious devs and community behind them, but for sure bitcoin won't be the only game in town.

Bitcoin wont be the only game in town, but its still the best game, when someone (Zynga, Overstock) wants to begin accepting a digital currency, they dont use dogecoin, they will start with BTC, LTC probably transacts a tiny fraction of what bitcoin does, the media knows BTC, it has a brand value now

Will LTC survive the long run, even flourish? yes, and maybe a 3rd coin, like peercoin, but is it different enough to overtake bitcoin, I'd say no, eventually it will fall by the wayside, because even more than BTC, LTC is currently only a store of value, a hedge with much less base support, propped up more by the success of its competitor than its own use, which is not to say BTC cant be toppled, there just isnt a scheme with clear enough advantages over BTC to take from its momentum

And just because humans have had differing currencies so far doesnt mean things dont change, people didnt have near universal access to free knowledge 100 years ago (internet), we have only just gone to space and got down being able to be anywhere on earth within a day, change is the only constant, fiscal revolution has happened many times before and it will happen more after digital currencies have their reign, being able to use the same money at a starbucks in california and a starbucks in shanghai is a logical progression of advancement

[beetcoin]

the housing bubble was pure speculation and the increase of demand was artificial.. that's why it fizzled out, not because it boomed so fast.