Bitcoin. Hendale will this bubble burst

[WTFH]

<moved to general > bitcoins are not business contracts.

[BrilloPad]

Bitcoin is the bubble (tulips anyone)

Schemes that offer investments in Bitcoin and "guarantee a 1% per day return" are the ponzi schemes

Pooper guarantees a lot more than 1%.....

[fullyautomatix]

We have had bubbles before but at least the bubble was in a commodity that had intrinsic value or material use. Here we have bitcoin which supposedly is a commodity but has no material use and is confused between currency and commodity.

There was a time when it went up to 25$ and we called it a bubble. Everyone was scared to touch it at that time. Now it has reached 6K and the only people buying it are the money launderers and the chinese. How else can you explain its bizarre movement in price. Even shares in APPL havent gone up like this.

[BrilloPad]

We have had bubbles before but at least the bubble was in a commodity that had intrinsic value or material use. Here we have bitcoin which supposedly is a commodity but has no material use and is confused between currency and commodity.

There was a time when it went up to 25$ and we called it a bubble. Everyone was scared to touch it at that time. Now it has reached 6K and the only people buying it are the money launderers and the chinese. How else can you explain its bizarre movement in price. Even shares in APPL havent gone up like this.

It is useful to the underworld. Once the establishment shuts it down there will be bytes all over the place.

[Hobosapien]

...
There was a time when it went up to 25$ and we called it a bubble. Everyone was scared to touch it at that time. Now it has reached 6K and the only people buying it are the money launderers and the chinese. How else can you explain its bizarre movement in price. Even shares in APPL havent gone up like this.

So it's likely to be made illegal in the UK (if they decide to crackdown on non-London property forms of money laundering or foreign money inshoring ) to hold shares in the tech or bitcoins themselves, like they did with gold when they want to control the money.

Just got to get out before that happens, if you can find an exit.

[northernladyuk]

<moved to general > bitcoins are not business contracts.

Just wait until Brexit.

[scooterscot]

We have had bubbles before but at least the bubble was in a commodity that had intrinsic value or material use.

Dies ist eine groß failure in deinem verstanden..

It does have value. And January coming it is about to have a whole lot more value. You'll all be spitting teeth mark my words.

[SimonMac]

Whether its a bubble or a Ponzi scheme the biggest issue is that a market can stay irrational longer than you have money.

As with many things its not worth the risk...

The risk's around Bitcoin (and other cryptos) are based on your approach, if it's an investment it's too high a risk, if it's a gamble you are after it's worth a punt but you should only ever gamble what you can afford to lose.