Chindie Posted August 10, 2017 VT Supporter Share Posted August 10, 2017 Price correction is part of a bubble. They occur when speculation etc push prices above their 'real' value. A market going up and down isn't a bubble but would be an outcome (albeit drastic up and down) followed by correction. A stock market crash might be part of a bubble equally, but rarely to be the whole of the story. It tends to focus on particular things - internet business, property etc. Crypto's growth is driven, as far as I can tell, almost solely by speculation, and is increasingly getting hyped with new people wanting in at a growing rate. That's telltale of a bubble starting. Especially as crypto has little real world use still. On the plus side if there is a spectacular burst the stuff that survives should be the cream of the crop... Bitcoin burst before in a smaller way and survived, for instance. But now it's getting bigger and traders from other backgrounds are jumping in. Link to comment Share on other sites More sharing options...
PieFacE Posted August 10, 2017 VT Supporter Share Posted August 10, 2017 (edited) Not sure I agree that crypto has no real world use still. I think in Japan and Korea you can use Bitcoin pretty much everywhere now? Pretty sure I read that somewhere. It's been Asia's investment into it which has driven up the price so much the past few months. Russia is now getting a massive hard on for crypto. I think there have been reasons why Bitcoin's "bubble" has burst though. For example, at the time the main use case for Bitcoin was dark markets, when Silk Road got shut down the price of Bitcoin dropped hugely. Or when the MTGox exchange got hacked and thousands of bitcoin were stolen, people lost faith in Bitcoin (even though it wasn't bitcoin's fault at all) and then the price plummets. Now that bitcoin is becoming an accepted standard of currency around the world slowly but surely, I just don't see it crashing as it has before. There will be a dip in November as there's going to be uncertainty of another hard fork of bitcoin because of the segwitx2 activation. People on the outside may look at the inevitable price drop and think the bubble is bursting, but there's always a reason for the market to move in the way it does. The same as any other market. Edited August 10, 2017 by PieFacE Link to comment Share on other sites More sharing options...
Chindie Posted August 10, 2017 VT Supporter Share Posted August 10, 2017 Ok. I don't agree with a bit of that but would only be repeating myself. Good luck. 1 Link to comment Share on other sites More sharing options...
PieFacE Posted August 11, 2017 VT Supporter Share Posted August 11, 2017 15 hours ago, Chindie said: Ok. I don't agree with a bit of that but would only be repeating myself. Good luck. Fair enough mate. True answer is who knows what's going to happen. Could all go completely pear shaped. Interesting article; https://bitcoinwarrior.net/2017/08/bitcoin-could-be-australias-new-national-currency/ Quote Imagine a sunny beach full of fintech entrepreneurs and bitcoin enthusiasts. Visiting colleagues from Singapore, India and China sit sprawled across the soft sand, commenting on how this coastal city became one of the world’s leading startup hubs. No, this scene isn’t happening in California. It’s actually Sydney, Australia. According to the KPMG report Scaling the Fintech Opportunity: For Sydney and Australia, there are now at least 579 fintech companies based in Australia. Most are in Sydney, where financial services pull in a larger percentage of the country’s GDP than finance in Hong Kong or Singapore. Investors poured $675 million into Australian fintech in 2016, even though global fintech investment was down. Read: Peek Inside The Fintech Arms Race Between Banks And Startups So far, it looks like 2017 will be an equally prosperous year. Sydney-based fintech startups like ZipMoney, which recently raised $40 million, are attracting investment from established power players in New York and London. Could Australia’s coastal capital become a global fintech epicenter? FinTech Australia's founding team: Alex Scandurra (CEO of Stone & Chalk FinTech Hub); Stuart Stoyan (CEO of Moneyplace); Jack Quigley (Co-Founder of CrowdfundUP); Danielle Szetho (CEO of FinTech Australia); Simon Cant (MD at Reinventure Fund); David Ball (Co-Founder of HyperBank); Charlotte Petris (Co-Founder of Timelio) and Nick Motteram (MD of OnMarket Book Builds). Photo: Andreas Weiss “We see blockchain and cryptography as an area of tremendous opportunity in Australia,” FinTech Australia CEO Danielle Szetho told International Business Times. “In the next couple of months we should see a lot of industry announcements... related to regulation and ICOs.” FinTech Australia is a professional network with more than 130 unique startups. Cryptocurrency is so popular in Australia there’s even a children’s book explaining blockchain technology through simple poetry making the rounds in Sydney’s tech industry circles. One major difference that sets Australia apart from the United States is more cohesive legislative approach at the federal level, compared to the American emphasis on states’ rights. “The regulatory framework is quite unified,” Szetho said. The Reserve Bank of Australia already has an internal group devoted to researching blockchain technologies and other disruptive possibilities. According the Sydney Morning Herald, lawmakers from opposing parties are pulling together to propose Australia recognize bitcoin as a national currency. Link to comment Share on other sites More sharing options...
villakram Posted August 12, 2017 Share Posted August 12, 2017 On Bloomberg this am, the Bitcoin price was listed on the commodities, bonds, currencies etc., splash pages they show! First time I've seen that. 1 Link to comment Share on other sites More sharing options...
PieFacE Posted August 13, 2017 VT Supporter Share Posted August 13, 2017 Yup and broke the $4000 barrier. Link to comment Share on other sites More sharing options...
Daweii Posted August 14, 2017 Share Posted August 14, 2017 Bitcoin depresses me. I was tempted by Bitcoin back when $5 could buy you enough to make a man a multi-millionaire today, but Bitcoin was worthless back then and it was more likely to be $10 lost than $5 million gained so I like many didn't buy in. Now of course hindsight being 20/20 it's clear this worthless coin is now worth some serious money. Depressing.. May do some research into some of the other coins while they are currently as good as worthless and hope for the best. Link to comment Share on other sites More sharing options...
PieFacE Posted August 14, 2017 VT Supporter Share Posted August 14, 2017 1 hour ago, Daweii said: Bitcoin depresses me. I was tempted by Bitcoin back when $5 could buy you enough to make a man a multi-millionaire today, but Bitcoin was worthless back then and it was more likely to be $10 lost than $5 million gained so I like many didn't buy in. Now of course hindsight being 20/20 it's clear this worthless coin is now worth some serious money. Depressing.. May do some research into some of the other coins while they are currently as good as worthless and hope for the best. Well NEO was $2 3 months ago, it's now $50+. There's plenty of opportunity. I got in ARK at $0.20, it's now $1.10. And it's just the beginning for ARK, could easily be a $50-100 coin in 1-3 years. There's loads of other coins which are doing really unique things. Would't worry about not buying in Bitcoin before, had you bought in for $5, you probably would have sold at $50. Think everyone did. 1 Link to comment Share on other sites More sharing options...
Tegis Posted October 12, 2017 VT Supporter Share Posted October 12, 2017 On 7/19/2017 at 10:32, PieFacE said: Buy all the bitcoin. $5000 by October is my guess. Hopefully dragging up ARK and Waves with it. Ding ding!! Link to comment Share on other sites More sharing options...
PieFacE Posted October 12, 2017 VT Supporter Share Posted October 12, 2017 10 minutes ago, Tegis said: Ding ding!! Ha Link to comment Share on other sites More sharing options...
Xela Posted November 28, 2017 Share Posted November 28, 2017 Insane looking at the early posts in this topic 1 Link to comment Share on other sites More sharing options...
PieFacE Posted November 28, 2017 VT Supporter Share Posted November 28, 2017 On 05/09/2013 at 19:35, PieFacE said: I once bought a bitcoin for about £10 I think. Just been on to get a couple more and they're £90 each!!!! Holy shit, wish I had of bought loads back then (doesn't everyone!) What an idiot! Could have got them at £90 1 Link to comment Share on other sites More sharing options...
Recommended Posts