Bitcoin

[Hobosapien]

Anyone getting onto the bitcoin train now will be lucky to find the tunnel isn't just painted onto a rock face Looney Tunes style.

Though all those still holding the coins (or even buying back in ) need new entrants to buy them at the 'new paradigm' price so they aren't the one left holding the fools gold. Roll up, roll up, greater fools required.

Of course I may just be too cautious and bitcoins will be worth a million apiece soon.

Bitcoins were designed for just the situation we're seeing. Invent a new 'currency' that is limited in number by design so the value rises by way of supply and demand, allowing those in on the ground floor to make a killing of those entering later. Sounds familiar. The real money has already been taken off the table and the greater fools have yet to realise they have been fleeced.

[BR14]

Anyone getting onto the bitcoin train now will be lucky to find the tunnel isn't just painted onto a rock face Looney Tunes style.

Though all those still holding the coins (or even buying back in ) need new entrants to buy them at the 'new paradigm' price so they aren't the one left holding the fools gold. Roll up, roll up, greater fools required.

Of course I may just be too cautious and bitcoins will be worth a million apiece soon.

Bitcoins were designed for just the situation we're seeing. Invent a new 'currency' that is limited in number by design so the value rises by way of supply and demand, allowing those in on the ground floor to make a killing of those entering later. Sounds familiar. The real money has already been taken off the table and the greater fools have yet to realise they have been fleeced.

I still do a CUK discount on magic beans! - PM me <or send a cheque>

[northernladyuk]

I still do a CUK discount on magic beans! - PM me <or send a cheque>

Do you accept tulips?

[BR14]

Do you accept tulips?

What? - you've still got some??

[DimPrawn]

How is having 48 bitcoins a worse position?

No many people have 48 bitcoins. If you have 48 bitcoins now, you are either going to end up laughing, or crying, depending on whether you bought them for $16 each or $16,000 each.

I've seen predictions saying they will top $1m each easily.

Fill yer boots and don't sell a single one until you are a billionaire!

[DimPrawn]

Anyone getting onto the bitcoin train now will be lucky to find the tunnel isn't just painted onto a rock face Looney Tunes style.

Though all those still holding the coins (or even buying back in ) need new entrants to buy them at the 'new paradigm' price so they aren't the one left holding the fools gold. Roll up, roll up, greater fools required.

Of course I may just be too cautious and bitcoins will be worth a million apiece soon.

Bitcoins were designed for just the situation we're seeing. Invent a new 'currency' that is limited in number by design so the value rises by way of supply and demand, allowing those in on the ground floor to make a killing of those entering later. Sounds familiar. The real money has already been taken off the table and the greater fools have yet to realise they have been fleeced.

Blockchain is a ground breaking concept. Just like the Internet. Granted.

But BitCoin and any other crypto coin is just an implementation. It can be replaced, forked or dropped, nothing earth shattering would happen (apart for a lot of virtual wealth would vanish).

If BitCoin were the only coin possible and the only implementation of a blockchain crypto currency, I would get the hype.

It will read like this in a few years time.

WHERE ARE The Kings Of The '90s Dot Com Bubble? - Business Insider

[Hobosapien]

All the media coverage is about bitcoin, not any of the alternatives. Only reason it has risen in price so dramatically in recent days as normal people want some easy money and fear missing out.

All the alt coins are doing well as secondary investments by the gamblers moving between coins when they adjust in price to suit their required price movement to make a profit.

None of what we're seeing now is due to the long term advantages of the underlying tech and is even damaging the long term uptake as it's highlighting the problems the tech needs to solve before it can really be a working global solution.

Would be a 'shame' if the uptake of bitcoins on the futures market causes the price to stagnate. Some see it as a way of reducing the volatility, but then those left holding the coins who only recently bought them aren't going to make a killing if the price doesn't go up much more. Eventually they'll panic sell when something comes along to show there's no future at the current valuation.

Interesting to see it all play out. For sure some will make a lot of money out of all those that lose theirs. Not a very ethical way of gambling.

[Jog On]

All the media coverage is about bitcoin, not any of the alternatives. Only reason it has risen in price so dramatically in recent days as normal people want some easy money and fear missing out.

All the alt coins are doing well as secondary investments by the gamblers moving between coins when they adjust in price to suit their required price movement to make a profit.

None of what we're seeing now is due to the long term advantages of the underlying tech and is even damaging the long term uptake as it's highlighting the problems the tech needs to solve before it can really be a working global solution.

Would be a 'shame' if the uptake of bitcoins on the futures market causes the price to stagnate. Some see it as a way of reducing the volatility, but then those left holding the coins who only recently bought them aren't going to make a killing if the price doesn't go up much more. Eventually they'll panic sell when something comes along to show there's no future at the current valuation.

Interesting to see it all play out. For sure some will make a lot of money out of all those that lose theirs. Not a very ethical way of gambling.

What's a more ethical way of gambling then?

[Jog On]

is this you?

[FrontEnder]

Isn't that exactly what gambling is? Making money at the expense of others?