bitcoin is problably going to pop after Christmas methinks
12-10-2017, 08:52 AM,
Post: #1
bitcoin is problably going to pop after Christmas methinks
just a thought; if at least a decent number of collectors are normal people who got in early or something, what's going to happen come January where statistically most people are recovering from overspending during Christmas?
12-10-2017, 09:30 AM,
Post: #2
RE: bitcoin is problably going to pop after Christmas methinks
BUY BUY BUY!
bedstuy Wrote:mocking a pair of $500 jeans is a form of class warfare... why do you hate my social status?
12-11-2017, 08:07 PM,
Post: #3
RE: bitcoin is problably going to pop after Christmas methinks
https://twitter.com/carljackmiller/statu...2226312192
The chaos army seems suspiciously well organized.
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12-12-2017, 01:21 AM,
Post: #4
RE: bitcoin is problably going to pop after Christmas methinks
(12-11-2017, 08:07 PM)Gippy Wrote: https://twitter.com/carljackmiller/statu...2226312192

I'm sure resedit has a long and convoluted list of reasons why that's all malarkey.
12-12-2017, 01:39 AM,
Post: #5
RE: bitcoin is problably going to pop after Christmas methinks
(12-12-2017, 01:21 AM)Jehannum Wrote:
(12-11-2017, 08:07 PM)Gippy Wrote: https://twitter.com/carljackmiller/statu...2226312192

I'm sure resedit has a long and convoluted list of reasons why that's all malarkey.

I thought about posting that this morning but got distracted by a squirrel and forgot.
12-12-2017, 02:16 AM, (This post was last modified: 12-12-2017, 02:18 AM by Gippy.)
Post: #6
RE: bitcoin is problably going to pop after Christmas methinks
This will end with “Bitcoin Millionaires” that did relatively nothing for their money and a bunch of late investors that get hosed when it crashes. (Alternate scenario is that trading stalls when nobody wants to pay the inflated price any more and we instead get Thousandaires after the price normalizes.)

I have no idea how the introduction of speculation is going to effect the market.

I don’t know anything that anyone else knows, I probably know less, but I’ve aleays been Leary of Bitcoin. A currency backed by nothing doesn’t make sense to me.
The chaos army seems suspiciously well organized.
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12-12-2017, 02:52 AM,
Post: #7
RE: bitcoin is problably going to pop after Christmas methinks
The price of transactions is jumping up. Apparently you now had to pay $20 for a reasonable processing time. That's a factor I hadn't considered; if transactions take forever to process then that would have to have an effect of some sort too. And already about 90% of all Bitcons that will ever exsist have already been mined, with mining speed dropping almost logramithically. What happens when Bitcoins either become fullyt moined or mining because unfeasible?

Thinking about it makes my head hurt. Bitcoin is really weird and I'm beginning to suspect that cryptocurrencies are going to take several years to sort out if not decades.
My logic is infallible. Resistance is futile.
12-12-2017, 03:44 AM,
Post: #8
RE: bitcoin is problably going to pop after Christmas methinks
https://twitter.com/matt_levine/status/9...7868416000
The chaos army seems suspiciously well organized.
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12-12-2017, 08:51 AM,
Post: #9
RE: bitcoin is problably going to pop after Christmas methinks
(12-12-2017, 02:16 AM)Gippy Wrote: This will end with “Bitcoin Millionaires” that did relatively nothing for their money and a bunch of late investors that get hosed when it crashes. (Alternate scenario is that trading stalls when nobody wants to pay the inflated price any more and we instead get Thousandaires after the price normalizes.)

I have no idea how the introduction of speculation is going to effect the market.

I don’t know anything that anyone else knows, I probably know less, but I’ve aleays been Leary of Bitcoin. A currency backed by nothing doesn’t make sense to me.

It's not so much the "backed by nothing" as it is the "can't buy anything with it" that keeps me at bay.  If I had known that it would do this, then obviously, I would have bought it a long time ago and sold it at precisely the right time.

But just like last year and last week, I don't see vanity crypto as anything remotely interesting or sustainable.
12-12-2017, 08:56 AM,
Post: #10
RE: bitcoin is problably going to pop after Christmas methinks
https://www.cnbc.com/2017/12/11/people-a...ter%7Cmain
Quote:Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday.

"We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.

"This is not something a guy who's making $100,000 a year, who's got a mortgage and two kids in college ought to be invested in."
The chaos army seems suspiciously well organized.
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12-12-2017, 08:58 AM,
Post: #11
RE: bitcoin is problably going to pop after Christmas methinks
I recall when mining first started. I considered setting up an old computer and taking a shot. I might have garnered 2 or 3 or so coins at the time before I got tired of waiting for anything worth while to happen. I didn't "get it" then, it just seemed like something to get while it could be got. But I still don't "get it" now.

Blockchain will be around for a while. It has merit. But cryptocurrency... I... pft.
The chaos army seems suspiciously well organized.
flickr | Stupid Blog | Twitter
12-12-2017, 09:49 AM,
Post: #12
RE: bitcoin is problably going to pop after Christmas methinks
I don't even know what a pop would even look like. If people make a run for their money there's nothing stopping the exchanges from halting services, and the whole blockchain would come to a screeching halt with transactions going to the highest bidder (quite possibly there will be a bid for a transaction incurring thousands of dollars in fees).
My logic is infallible. Resistance is futile.


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