http://gonzalolira.blogspot.com.au/2013/11/bitcoins-get-out-while-gettings-good.html "If you don't have any bitcoins, don't get any. It's going to crashthe "when" of course being impossible to predict, but as inevitable as the collapse of any speculative bubble. If you currently have bitcoins, then follow Joseph P. Kennedy's very wise advice: "Only a fool holds out for top dollars." If you've made some money on the run-up in Bitcoins, take the profits and count yourself lucky. If the bubble continues to rise, so what, you made your money. Better to sell too early than too late."
So the advice here is to get out of Bitcoin. Any rise.means get out I take it. Considering the main context of this forum: How does this logic apply to silver?
It's funny you keep hauling out that chart. Compare it to the current Bitcoin chart and how can you not see we are probably in the "bull trap" phase? There are a lot of people here that would have loved to have sold their silver when it was over $40 and ounce. Better to get out now and come back in later, if you think there is a future for crypto-currencies. Hold BTC now at your own risk. Personally, I'm sitting this out until we know for sure how the trend is going to go, but the way it's currently looking... Here: This was compiled by some silver nutcase, but the content is OK and it has British men in wigs (which is always fun): [youtube]http://www.youtube.com/watch?v=SlJ6oh50hiI[/youtube]
Silver is physical. It is not paper, it is not digital. You will always have your silver. What it's worth? That's a question you can ask, long after paper and digital have reverted to zero.
when do we get tired of the "i missed out so you all better sell, tulips are the same as bitcoin" posts? **yawn**
maybe we can now drag out graphs of how shovel sellers made the money in the gold rush over actual miners? tulips can now be sent over the internet as a form of currency
I was shown that exact same comparison months ago when BTC first jumped up to $250 and looked like an exponential hockey stick, and now that $250 high looks like a tiny bump and the comparison is being made again I think the comparison will ring true once the $1300 high looks like a bump and we are at $10,000+ BTC, remember an exponential chart always looks hockey stick on the way up, it's the scale that keeps changing Yes Bitcoin is a bubble and it is in a bubble but we are probably only transitioning from the Awareness Phase to the Mania Phase now, so cash out if you want but you will probably be buying back in higher The general public and the media are not into Bitcoin yet, the software applications are not out yet, there is no line up at banks to cash out and into Bitcoin yet, there is no race to get out of bank accounts prior to a wealth confiscation, there is no huge demand to get your fiat out of the system, there is no Bitcoin on Wallstreet yet, there is no simple wallet for the average person yet, there is no regulated exchanges yet, there is no race for businesses to get on board....... we just ain't at the top yet, we will get there and it will pop, just not yet
who cares about currency... I'd rather have money! or at least an asset (BTC is not an asset, just a figment of your imagination, or on your hard drive, which have become interchangeable). why do you think they call it a VIRTUAL currency? Extraordinary Popular Delusions and the Madness of Bitcoin http://www.econlib.org/library/Mackay/macEx2.html#Ch.2, The South-Sea Bubble
Interesting answers guys - I think ZH is implying also today that the BIS 'anti-dump' flying squad have now become involved and are rigging the BTC market, to their advantage of course, and probably in an effort to appease China to protect the massive army of small BTC 'investors'? http://www.zerohedge.com/print/482066?utm_source=twitterfeed&utm_medium=twitter That aside, without going back to bubble-talk, I would say that buying APPL in 1995-6 would've been pretty smart on a medium-term investment view, regardless of gyrations inbetween then and now - and of course in similar context the following 2 graphs say it all perhaps - at least for me - silver up 270%+ over 10 years, 330%+ over 20 years:
I believe it is best measured by how many people on the street know about it. Plenty of time to go I think.
I'll get out of ltc at 75, buy back at 40 and then be all out when it hit $150. Bitcoin has a long way to go before it pops. Most people I talk to dont even know of it's existence. If cryptocurrencies have any future. Bitcoin will lead the way. At least until governments bring out their own centralized version and ban the rest.
If you want to be an investor, It starts by knowing the nature and the intrisic value of the asset (zero in bitcoin's case). If you want to be a currency speculator, good luck to you!
Not necessarily, we were saying the same about gold and silver a couple of years ago. The classic bubble graph that load of bullion keeps posting may not ring true anymore because it refers to mainstream investments ie RE and shares. At no point did the "general" public enter the gold market to push it above its 1900 high, yet it could be argued the bubble did burst. Gold/silver got media attention, gold/silver investors got enthusiasm, they probably got greed, certainly most of us are in denial (but maybe we're right), fear and some I note some are in despair. So that suggests that: a. the general public do not need to be involved probably because the general public doesn't have as much money as fringe investors and we think we're "Nuts!" investors but in reality we may be the "Public". or b. the gold/silver bubble has not burst, which suggests the general public are yet to climb on board PM's, if that is the case then cryptos are a light year away from bursting. What's with the auto-correct of "Savvy?" Pellie?? :lol:
Interesting you should say that shiney... www.silverdoctors.com/is-tulipcoin-a-precursor-to-the-coming-mania-in-precious-metals/
