I regret not buying them when they we're like 100$ a pop. :v:
But I probably would've sold them all around the 1000$ mark.
BUY AND HODL
Why does it keep skyrocketing like this?
[QUOTE=Bertie;52926559]Why does it keep skyrocketing like this?[/QUOTE]
"Bitcoin value has increased from 600€ to 700€!"
People buy bitcoin.
"Bitcoin value has increased from 700€ to 800€!"
More people buy bitcoin.
"Bitcoin value has increased from 800€ to 900€!"
Even more people buy bitcoin.
"Bitcoin value has increased from 900€ to 1000€!"
Yet even [I]more[/I] people buy bitcoin.
Keep repeating above steps.
The news keep saying how much the value increases, so people wanna get in on it. That, of course, increases the value more, so more people wanna get in on it and/or existing bitcoin owners buy more coins.
[QUOTE=Bordellimies;52926565]"Bitcoin value has increased from 600€ to 700€!"
People buy bitcoin.
"Bitcoin value has increased from 700€ to 800€!"
More people buy bitcoin.
"Bitcoin value has increased from 800€ to 900€!"
Even more people buy bitcoin.
"Bitcoin value has increased from 900€ to 1000€!"
Yet even [I]more[/I] people buy bitcoin.
Keep repeating above steps.
The news keep saying how much the value increases, so people wanna get in on it. That, of course, increases the value more, so more people wanna get in on it and/or existing bitcoin owners buy more coins.[/QUOTE]
Hoping it's not a bubble. I'd like to think it's not going to crash unless a sell off happens considering it's rarity can only increase.
It doesn't really matter how expensive bitcoin gets... very few outstanding bitcoins are used in exchange for goods and services. It is nearly entirely purchased on a buy/hold speculative basis or as a money laundering vehicle for crime.
Bitcoin remains an extremely volatile gamble on something with no real use aside from buying into it in attempt to leverage the upside and then cash out. Because of the overall low capital velocity of "transactions" in bitcoin relative to any other financial holding one large group of sellers would be all it takes to completely tank the market if they decided to convert to USD or such within a short time.
[QUOTE=Adelle Zhu;52926723]Hoping it's not a bubble. I'd like to think it's not going to crash unless a sell off happens considering it's rarity can only increase.[/QUOTE]
So many people who don't understand bitcoin are buying into this and raising the price. I expect it is a bubble.
[QUOTE=nintenman1;52927777]It doesn't really matter how expensive bitcoin gets... very few outstanding bitcoins are used in exchange for goods and services. It is nearly entirely purchased on a buy/hold speculative basis or as a money laundering vehicle for crime.
Bitcoin remains an extremely volatile gamble on something with no real use aside from buying into it in attempt to leverage the upside and then cash out. Because of the overall low capital velocity of "transactions" in bitcoin relative to any other financial holding one large group of sellers would be all it takes to completely tank the market if they decided to convert to USD or such within a short time.[/QUOTE]
Lots of places are starting to accept bitcoin.
[QUOTE=Ricenchicken;52927789]So many people who don't understand bitcoin are buying into this and raising the price. I expect it is a bubble.[/QUOTE]
That's exactly it; it's the most well known cryptocurrency by far, but IMO the technology doesn't match (ASIC-dominant mining leads to centralization, long transaction confirmation times, etc). It's also the primary point of entry for a lot of people in terms of converting fiat currency to cryptocurrency, so I feel like by nature it will have the largest market cap.
Once we see more widespread adoption of cryptocurrencies (i.e. they are finally more than a glorified volatile security market), I think Bitcoin will be dethroned as people realize that they don't exactly want to wait anywhere between an hour to a day to have their transaction confirmed.
[QUOTE=nintenman1;52927777]It doesn't really matter how expensive bitcoin gets... very few outstanding bitcoins are used in exchange for goods and services. It is nearly entirely purchased on a buy/hold speculative basis or as a money laundering vehicle for crime.
Bitcoin remains an extremely volatile gamble on something with no real use aside from buying into it in attempt to leverage the upside and then cash out. Because of the overall low capital velocity of "transactions" in bitcoin relative to any other financial holding one large group of sellers would be all it takes to completely tank the market if they decided to convert to USD or such within a short time.[/QUOTE]
you just want all the coins for yoURSELF HUH ?
i just want to use it to exchange for goods and services. it keeps going up and it makes me nervous buying any because i'm afraid the bubble will pop
[editline]27th November 2017[/editline]
stability is what is important in a currency, not massive increases in value
Well I've made 159% on my investment in four months so I'm waiting for it finally burst then.
[QUOTE=Ricenchicken;52927789]Lots of places are starting to accept bitcoin.[/QUOTE]
That's not the point though. Many businesses accept bitcoin (although far from the majority of businesses accept it) but the point is that people aren't actually making a lot of purchases with it. Its merchant adoption is far outpacing the rate that people actually spend bitcoin - everyone's buying, but as an investment, not a currency.
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