IT BEGINS !!

Discussion in 'Digital Currencies' started by SilverSale, Dec 22, 2019.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    ^ groan. Where's the Tulipmania reference?

    This is what BTC's price looks like in USD. How long does it have to keep rising and finding new highs before no-coiners stop with their bubble comments?

    Screen Shot 2021-01-27 at 7.39.48 am.png

    No-coiners waving goodbye to another opportunity:

    Screen Shot 2021-01-26 at 11.58.51 am.png
     
  2. heartastack

    heartastack Well-Known Member Silver Stacker

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    well if someone was putting their house up on those peaks and then needed liquidity then yeah I could consider that a psychological bubble even though fractal zoom would suggest otherwise
     
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I would suggest putting your house on anything would be just stupid. Unless it was my horse I guess. ;)

    What's "fractal zoom"?
     
  4. heartastack

    heartastack Well-Known Member Silver Stacker

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    people were acting ‘that’ stupid with leverage and general carelessness and at the same time claiming to be geniuses and bashing ‘no-coiners’. Fractal zoom is just a recurring pattern that looks the same zoomed in or out. Btc is not a technical fractal but it’s a close analogy
     
  5. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I only bash no-coiners when they start rambling about stuff they have no idea about, most of the time I try to educate them or maybe ignore them because they don't want to learn.
     
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  6. heartastack

    heartastack Well-Known Member Silver Stacker

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    I know, I was only addressing whether those peaks were bubbles. The answer being yes and no IMO
     
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  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Bull markets and bear markets.
     
  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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  9. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    There was noise of this a few years back. I believe on that occasion the bill never made it to parliament.

    Talk about wanting to have their cake & eat it too!



    I'm going to stick this one in the 'FUD' filing cabinet for the mo.
     
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  10. 66rounds

    66rounds Well-Known Member Silver Stacker

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    First they demonetised their larger fiat notes.
    Then they taxed the expected influx of deposits.
    They already tax metals. They only have cryptos left to target now
     
  11. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    Lucky I don't live in India.
     
  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    So much for a borderless decentralized global payment system. Sucks for the 1.2 billion potential users that will be left out
     
  13. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    If they're internet savvy, they'll work it out. Most of them, if already in crypto, will be more savvy than the government making new rules.
     
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  14. Number 47

    Number 47 Well-Known Member

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    I know I bloke who cashed out a few hundred bitcoin (all of his bitcoin) to buy a playstation.

    Strangely enough he's been feeling quite suicidal for the last couple of years :(
     
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  15. hawkeye1

    hawkeye1 Member

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    I have a similar story, sold nearly all after achieving 10X in one year, but after a couple of years of hating BTC and not wanting to hear about it and hoping it would crash and burn to validate my decision, I eventually got over it, got back in and am already sitting on nice profits. Not that I am intending to sell, I'm riding it to the end now.

    If this guy sold a few hundred BTC to buy a Playstation this must have been quite a few years ago. The dumbest thing wasn't to sell, (cause a lot of people didn't know what it was or what it's potential was back then). The dumbest thing was to not get back in.
     
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  16. hawkeye1

    hawkeye1 Member

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    They were bubbles. I've been through 2 now, 2013 and 2017. It's just the way it works. I think most normals just can't get the concept that just because something goes through a bubble phase doesn't mean it doesn't have value. It's not just BTC. And the reality is these bubbles are how BTC is drawing attention to itself and distributing itself gradually amongst more and more people.

    Also, I've talked to many people who don't understand that price is simply a function of supply and demand. It has nothing to do with whether it is a physical object or not. In fact no economics textbook says anything about physical-ness determining price. But again, average normal no comprehend basic economics.
     
  17. Goldmiester

    Goldmiester Active Member

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    Seems like BTC has woken up again.
     
  18. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    On the topic of economics textbooks aka theory, some hold that bubbles do not actually exist.

    I'm happy to label BTC's massive price rises and declines as bull and bear markets, it's just multiplied due to the volatile nature of the asset class. The long term price charts seem to support my position. From my point of view anyway. ;)
     
  19. hawkeye1

    hawkeye1 Member

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    Fair point. I label them as bubbles because they felt like bubbles when I went through them actually holding BTC both times. The steady then massive price increases followed by the blow-off top felt very much like a bubble to me. The curious thing is, is that they keep repeating in relatively short periods of time. And I put that down to the fact that BTC has different dynamics than any other known asset class.

    The big mistake that I see a lot of people make is trying to compare BTC to shares and thereby saying it is an obvious bubble and obviously no company behind them, and not producing any product and so therefore must be fundamentally worthless. Which is obviously a very flawed interpretation. But I think a lot of people just have mental blocks that they find difficult to get past.
     
  20. hawkeye1

    hawkeye1 Member

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    Let me know when it gets solidly past 40K.

    It's funny, I remember when I was on SS years ago and we were all getting excited because BTC had just recently gone past the silver price at the time.
     

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