The Bitcoin bubble? (29 Nov, 2017)

Have your say on today's Aardvark Daily column

The Bitcoin bubble? (29 Nov, 2017)

Postby aardvark_admin » Wed Nov 29, 2017 7:35 am

This column is archived at: http://aardvark.co.nz/daily/2017/1129.shtml

Is Bitcoin about to burst or, as some informed commentators suggest, will it go on to even greater heights.

If you buy a lotto ticket every week, perhaps you'd be better off investing in Bitcoin and hoping you choose exactly the right time to cash-out, the returns could be enormous -- especially considering the four orders of magnitude gain that the currency has seen in just eight short years.
aardvark_admin
Site Admin
 
Posts: 2727
Joined: Wed May 07, 2014 2:10 pm

Re: The Bitcoin bubble? (29 Nov, 2017)

Postby Weasel » Wed Nov 29, 2017 8:11 am

I got some fractions of BTC a few months ago when it was around $2000, along with Litecoin and Ethereum when I had a few bucks spare. As with anything that's a risk for a gain, you'd be nuts to bet the house on it, or borrow money in the hope its going to keep jumping up.

One thing I've noticed is the people screaming bubble are the same people that screamed bubble when it hit $2000, the same people that likely are sour because they didn't buy any, at $2000, or $200, or $20, or $2...
Weasel
 
Posts: 188
Joined: Wed Jul 08, 2015 10:44 am

Re: The Bitcoin bubble? (29 Nov, 2017)

Postby hagfish » Wed Nov 29, 2017 8:54 am

The difference between tulips and bitcoins is that the increase of bitcoins in circulation is predictable, and slow. Eventually, each bitcoin could be worth around US$25m, if/when all 21 million are mined, and they completely replace the world's money supply (not including derivatives). Get em now, while they're cheap!
hagfish
 
Posts: 569
Joined: Thu May 08, 2014 10:28 am

Re: The Bitcoin bubble? (29 Nov, 2017)

Postby Malcolm » Wed Nov 29, 2017 10:36 am

Weasel wrote:I got some fractions of BTC a few months ago when it was around $2000, along with Litecoin and Ethereum when I had a few bucks spare. As with anything that's a risk for a gain, you'd be nuts to bet the house on it, or borrow money in the hope its going to keep jumping up.

One thing I've noticed is the people screaming bubble are the same people that screamed bubble when it hit $2000, the same people that likely are sour because they didn't buy any, at $2000, or $200, or $20, or $2...

I have .11 or so from back when they were being given away. I should probably try to find some sucker to buy it.
Also Bitcoin will not replace money, too many systemic limitations. It is at best a proof of concept which sadly got taken up by speculators and driven far beyond where it should have gone.
Malcolm
 
Posts: 217
Joined: Thu May 08, 2014 9:43 am

Re: The Bitcoin bubble? (29 Nov, 2017)

Postby mad » Wed Nov 29, 2017 1:46 pm

If the value of bitcoin continues to go through the roof it will be the end of Bitcoin as a usable currency, ( it may survive longer as a speculative commodity AKA tulips etc)

posit this,

Currencies are supposed to be stable stores of wealth- not a "B@lls to the wall, wild west IPO" ride.....

Why would you use BTC to buy something if you believed they are going to we worth x% more tomorrow, there is no incentive to buy anything with BTC when you are making a killing by just sitting on them...- the only people buying a selling them are speculators,-
mad
 
Posts: 81
Joined: Thu May 08, 2014 9:43 am

Re: The Bitcoin bubble? (29 Nov, 2017)

Postby phill » Wed Nov 29, 2017 2:05 pm

plenty of 10th story windows for speculators
( ,,,,,,,, ....... A E I O U use em sparingly theres probably not enough )
User avatar
phill
 
Posts: 1278
Joined: Tue Nov 25, 2014 8:31 pm


Return to Today's column

Who is online

Users browsing this forum: No registered users and 3 guests