BTC to USD nearly 17k

[Neptune]

So when is this bitcoin bubble gonna pop?

[All Ts]

To be honest? When mining is dead, hype dies and a better cryptocurrency takes popularity by being more versatile. This is already all happening as I type this, but I'd say that the "bubble" (don't even know if you can say BTC has a bubble) will pop sometime in roughly 2 years. Some very smart people claim BTC will increase to insane numbers, but honestly it makes it look like they're saying crazy shit like that in their own self interest.

 

 

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[roux]

Right now it's not even to be treated as a currency. It's a stock and the bubble will pop when either mining dies, or ecological reforms regarding its energy use are made. Like All Ts, I think it'll pop in months, years even. It'll take time. I think the growth is going to stabilize and that $1k per day is over though.

[FLuiD]

ez selling house to buy at 17k a pop selling at 100k per btc it's full proof

[Karma]

As someone who's has bought bitcoin I can say that it is a risk. As the price keeps going up more and more people are joining in. Which is a great thing, but I feel as if it is a bad thing in itself. As more people invest it will keep getting more "unstable" if you will and as @All T's said mining is dead. One thing I do think will happen is it does the same thing as some companies on the stock market did in the 70's which is drop in price and then shoot back up. Anyways, I don't think it has that much longer of a life. If anything a few years or so...

[SilentGuns]

tfw entered LTC at 80

 

 

 

A reminder for anyone considering investing in cryptocurrency: Do not invest more than you are willing to lose.

[Vy]

It'll go up and up and up until the hype about it goes down.

 

Then a bunch of people will see the slowdown and will try to cash in, crashing the entire thing to the ground.

 

Or some idiotic news about China closing all exchanges or whatnot and the value will half.

 

The way people see it 1 BTC = 17k $ is pretty wrong too. You don't actually have a 17k USD. What you have is a Bitcoin. Can you get someone to pay for it at 17 k USD? Good for you. If not, well, all you have is a Bitcoin. Can you buy something with it? No? Well bad for you

[SilentGuns]

The way people see it 1 BTC = 17k $ is pretty wrong too. You don't actually have a 17k USD. What you have is a Bitcoin. Can you get someone to pay for it at 17 k USD? Good for you. If not, well, all you have is a Bitcoin. Can you buy something with it? No? Well bad for you

 

This is true, bitcoin itself has become impractical for everyday commerce (just look at the fees and transaction times) or as any sort of "currency of the future". At this point 99% of people see it as a get-rich-quick scheme that is fueled by speculation and group mentality. Most people are in it to cash back out into fiat currency when the value of the coin increases.

 

 

Just have to make sure you sell 2 days too early, rather than 1 minute too late.

[Vy]

This is true, bitcoin itself has become impractical for everyday commerce or as any sort of "currency of the future". At this point 99% of people see it as a get-rich-quick scheme that is fueled by speculation and group mentality. Most people are in it to cash back out into fiat currency when value of the coin increases.

Can't sell the thing if there's no buyers. Why'd someone buy a BTC at such high value is really beyond me and when it falls, not a lot of people are going to buy it at the high values at that time (especially if the trend if 80 degree down line)

[SilentGuns]

Can't sell the thing if there's no buyers. Why'd someone buy a BTC at such high value is really beyond me and when it falls, not a lot of people are going to buy it at the high values at that time (especially if the trend if 80 degree down line)

 

Thats why you want to sell too early (when there is still some hype), rather than sell when nobody wants to buy and the price is in a tailspin. I have personally sold all of mine and invested the gains in altcoins and cashed out the initial investment.