IT BEGINS !!

mmm....shiney! said:
^ 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?

View attachment 50386

No-coiners waving goodbye to another opportunity:

View attachment 50387
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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
 
mmm....shiney! said:
I would suggest putting your house on anything would be just stupid. Unless it was my horse I guess. ;)



What's "fractal zoom"?
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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
 
heartastack said:
people were acting ‘that’ stupid with leverage and general carelessness and at the same time claiming to be geniuses and bashing ‘no-coiners’.
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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.
 
66rounds said:
https://www.cnbc.com/2021/01/30/the-indian-government-may-ban-cryptocurrencies-like-bitcoin.html
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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.

“the bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”
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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.
 
LiverBird said:
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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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
 
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 :(
 
Number 47 said:
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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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.
 
mmm....shiney! said:
^ 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?
Click to expand...

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.
 
hawkeye1 said:
They were bubbles. I've been through 2 now, 2013 and 2017. It's just the way it works.
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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. ;)
 
mmm....shiney! said:
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. ;)
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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.
 
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