Bitcoin CRASH imminent? Investor warns bitcoin bubble is ‘bloodiest DANGER of the century’
The larger danger to the Bitcoin bubble is this:
Posted on 12/16/2017 7:11:23 PM PST by Enlightened1
Bitcoin broke 19,000k today for the first time. In the last week alone it's up just shy of $5,000.
Even though the price was impressive what got my attention was that fact that investment banks Goldman Sachs, JP Morgan and even the Bank of America are now getting in crypto currency.
Today I see more and more companies accepting bitcoins than even a year ago. So I through I would throw some money that will not hurt me to lose to see what happens.
For the record, had I invested 2K last January 2017 when bitcoin was $1k I would have had 38K today (this includes my original investment). I almost did but held off. I realized I made the same mistake I did in 2011 when it was $2.97 a coin. I remember when it was breaking 2k a few months ago, then 3k, then 4k, etc... All the naysayers were saying it's done and it will crash. Sort of reminds me of the media with President Trump. Anyway, I just watched it go up and up.
Ethereum (the A.I. that supports Bitcoin) is up $258 in the last week and Litecoin (allows for the fast transactions of bitcoins) is up $180 this past week. At this time I view the 3 as the gold, silver and bronze of crypto/blockchain currency and that may change? There still relatively cheap at this time.
Nevertheless, it's complete insanity at these rates, and I don't see any slow down in the near future. Meaning the next 7 to 11 years if I had to put a estimate to it? Yes it will crash. When I really do not know? In any event, insanity sold.
Remember when Napster began to transform the music industry in the late 1990s? We all watched
(Excerpt) Read more at coindesk.com ...
Even though the price was impressive what got my attention was that fact that investment banks Goldman Sachs, JP Morgan and even the Bank of America are now getting in crypto currency.
Today I see more and more companies accepting bitcoins than even a year ago. So I through I would throw some money that will not hurt me to lose to see what happens.
For the record, had I invested 2K last January 2017 when bitcoin was $1k I would have had 38K today (this includes my original investment). I almost did but held off. I realized I made the same mistake I did in 2011 when it was $2.97 a coin. I remember when it was breaking 2k a few months ago, then 3k, then 4k, etc... All the naysayers were saying it's done and it will crash. Sort of reminds me of the media with President Trump. Anyway, I just watched it go up and up.
Ethereum (the A.I. that supports Bitcoin) is up $258 in the last week and Litecoin (allows for the fast transactions of bitcoins) is up $180 this past week. At this time I view the 3 as the gold, silver and bronze of crypto/blockchain currency and that may change? There still relatively cheap at this time.
Nevertheless, it's complete insanity at these rates, and I don't see any slow down in the near future. Meaning the next 7 to 11 years if I had to put a estimate to it? Yes it will crash. When I really do not know? In any event, insanity sold.
Remember when Napster began to transform the music industry in the late 1990s? We all watched it transform in slow motion (meaning daily). Today though, twenty years later, the music industry has been forever changed today. Now at the most you pay for a song is $1 more or less or you can go to subscription base and have access to all the songs you want. Anyhow, IMO what we are witnessing in slow motion is the world's financial markets transforming.
The world is moving from a controlled closed source, petro dollar centralized bank system to a open source decentralization system controlled by the people and true free markets.
The crypto currency will transcend the dollar if trends continue. I don't see how they will not?
Here is a good link on where to get it and understand how it works.
https://www.bestbitcoinexchange.io/
I smell a rat
Not a single dime.
Bought some at 6000.
I’m a happy puppy.
My son bought in a long time ago and he has seen a 1,100 percent increase in his investment. He just sold it all, though.
Bitcoin CRASH imminent? Investor warns bitcoin bubble is ‘bloodiest DANGER of the century’
The larger danger to the Bitcoin bubble is this:
Bitcoin is fundamentally flawed in its mission to be a usable currency, both because of its underlying structural limits and weaknesses, but also because the primary purpose of any currency is to be a stable medium of exchange. Bitcoin is anything but stable, which makes it useless for anything other than speculation.
I had 8k in 40 bitcoins in 2014. STUPIDLY I sold it.
To the average American, it's meaningless. They can't buy groceries or pay the electric bill with it.
Very nice!
Got in at $6,000. Congratulations. You are more brave than I. If having lost $20k in the dot.com bust; some free advice. You have more than doubled your money on something that has zero physical value. It’s just some bits on a hard drive, like Buy.com.
Today you have more than tripled your investment. No shame on taking the profit and running. Greedy folk, like me, get stuck with zero. Best to take the profit and brag the rest of your life, than lament the new(er) car you lost.
Yeah they have been saying that since 1K.
Every time Bitcoin hits a new high we hear that.
Oh yeah I believe it will crash, but not for a while.
Anyway, that’s why I threw only money I don’t mind losing at it.
Let’s see what happens.
Would any employer want to pay with bit coin?
Would any employee agree to a contract in bit payment?
Too volatile?
So much for it being “currency”...,
This shit is fools gold.
That’s fine and do what’s you think is best.
I’m willing to throw a little to see what happens.
The guy who cleans my furnace here in Maine said friends of his who worked in New York’s financial district told him to but Bitcoin when it was selling for only five dollars. He didn’t take their advice.
However, he did buy Bitcoin when it was $100.
In October, when he cleaned the furnace, he mentioned that Bitcoin was at $6,000. It’s more than tripled since then.
Napster was eventually sacrificed by lawsuits, but it changed the music industry.
I’m not sure what happen to Netscape, but it was the first browser to again change the world as we know it.
The bitcoin market of where you can purchase products is expanding. The dollar is not tied into gold and the banks just print money out of thin air. It’s based on market forces just like bitcoin
Sigh. First line should read, “...told him to BUY Bitcoin...”
I bet it will get to that one day.
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