$900 Bitcoin

[dj_patm]

Meh.

If you only put a little in it's Low Risk, High Reward.

Risk % wise, yeah it's huge.

[nzwasp]

I thought that they might of been talking about IOTA actually. It went up 500% in under a week.

[suntan]

Goddamnit I was looking at IOTA and then this happens. Fuck me in the face.

[CompletelyNumb]

This quote is hidden because you are ignoring this member. Show Quote

Goddamnit I was looking at IOTA and then this happens. Fuck me in the face.

This basically sums up my entire experience with crypto.

[revelations]

This is not the same as 2013 spec bubble. That was a result of Mt GOX and Karpeles' algorithms.

We will have pullbacks as per the chart but this is organic, global growth. Not artificial like the manipulated money markets and FIAT currency.
Whats scary is that BTC has the potential to go vertical in the next 6-12 months.

However, long term - BTC is not sustainable as its a poor method of transaction. Its completely over saturated and transactions can take days now. Other coins will eventually supplant and take over.

Also, long term - with cryptocurrencies being entirely dependant on the security of their systems, quantum computers will eventually come online and be able to break the code (and create their own, duplicate coins).
That would be the end of BTC as we know it - but there are several coins out there which are being developed as quantum-resistant. These are the ones you should be placing some money in for a long term solution.

[suntan]

It allows financial transactions in places with broken financial systems. So basically all of Earth except for North America, some parts of Europe and Korea/Japan.

[pheoxs]

This quote is hidden because you are ignoring this member. Show Quote

It allows financial transactions in places with broken financial systems. So basically all of Earth except for North America, some parts of Europe and Korea/Japan.

Its not even good for that anymore. The fees have spiked so high its basically just another Western Union

[dj_patm]

That's where IOTA comes into play. No Fees.

Apparently. Still haven't found an exchange where that is true though.

[tonytiger55]

This quote is hidden because you are ignoring this member. Show Quote

Goddamnit I was looking at IOTA and then this happens. Fuck me in the face.

I got a chatting with a client one time at the teller and he said buy bitcoin. It was $20.
I was going to dump in $2k. But I was so broke I needed that cash for my downpayment. Thats all I had. A family member owed me cash but would not give it.. I was dead on buying but I just fucking could not as I was broke, i was so fucking frustrated at the time.... story of my life.
So I look at the currency now and yeaaaaaah... I feel like throwing up.

[ickyflex]

I'm interested to see how this plays out once it hits all the major exchanges in the coming month!

[nzwasp]

with binance the fee is 33c USD which is pretty low - I cant imagine exchanges are going to provide trading for free (for IOTA)

[pheoxs]

This quote is hidden because you are ignoring this member. Show Quote

I got a chatting with a client one time at the teller and he said buy bitcoin. It was $20.
I was going to dump in $2k. But I was so broke I needed that cash for my downpayment. Thats all I had. A family member owed me cash but would not give it.. I was dead on buying but I just fucking could not as I was broke, i was so fucking frustrated at the time.... story of my life.
So I look at the currency now and yeaaaaaah... I feel like throwing up.

Even if you’d bought it you probably would’ve sold at 100, or 300, or 1000 or at some other spike.

[Buster]

This quote is hidden because you are ignoring this member. Show Quote

Meh.

If you only put a little in it's Low Risk, High Reward.

Risk % wise, yeah it's huge.

I'm not saying you can't make money in a spec bubble. You most certainly can. That doesn't make it not a spec bubble.

[Buster]

This quote is hidden because you are ignoring this member. Show Quote

Are you referring to Bitcoin or cryptocurrencies? Or do you believe the concept of cryptos and blockchain is all worthless?

At the moment I think all cryptos are serious bubbles. No, I don't think blockchain technology is worthless. The technology has utility, although let's not confuse utility with inherent value. Saying that blockchain technology has utility is somewhat unrelated to saying it is a good store of value as an asset class.

In fact, if you were to construct an entity that was specifically designed to generate a spec bubble, it might look exactly like BTC. It has the patina of value by dint of utility, it is inherently supply limited, it has no inherent value, it is somewhat liquid, but not overly liquid, it's sexy, it has the aura of being "new and different this time."

I have no idea what kind of run it could go on, that's much harder to predict.

Also the benefits of BTC in terms of anonymity has not been stress tested really, and its utility as a currency replacement at the moment is really questionable.

But more obviously the way people are talking about it, and the way it has captured the public attention is pretty classic bubble.

Tulip bulbs.

[pheoxs]

Btc difficulty readjusted higher and lots of mining power shifted to bch. The mem pool (and fees) are climbing fast. 125k unconfirmed transactions at this point

[RedDawn]

Steam dropped BitCoin support.

https://www.pcgamesn.com/steam/steam-bitcoin-purchases

Wish this massive waste of electricity would just hurry up and die. Technologically, BitCoin in 2017 is worse than BitCoin in 2016. The only thing thats improved is the price but its functionality as a currency is shittier than ever. The SegWit update predictably failed and Bitcoin continues to average 3-4 transactions per second. During Christmas time in 2011 (the last publicly available data point) Visa hit 11,000 transactions per second.

Lol at the people getting roped into IOTA. There's a whole conglomeration of people who develop and market the next big shit-coin trend to gullible fools and they're the same ones behind IOTA. Cryptos are the perfect scam for people who are either too stupid to understand the tech limitations behind it or willingly ignore the tech limitations because they're blinded by their ability to get rich.

[Kobe]

BTC @ 20k CAD

With that said, Dean Nolan - (founder or http://betking.io ) is donating 1 BTC a day to charity for 25 days.. Always been a super nice guy - Really nice of someone to give back to charities..

https://www.reddit.com/r/Bitcoin/com...d_causes_this/

[dj_patm]

This quote is hidden because you are ignoring this member. Show Quote

Steam dropped BitCoin support.

https://www.pcgamesn.com/steam/steam-bitcoin-purchases

Wish this massive waste of electricity would just hurry up and die. Technologically, BitCoin in 2017 is worse than BitCoin in 2016. The only thing thats improved is the price but its functionality as a currency is shittier than ever. The SegWit update predictably failed and Bitcoin continues to average 3-4 transactions per second. During Christmas time in 2011 (the last publicly available data point) Visa hit 11,000 transactions per second.

Lol at the people getting roped into IOTA. There's a whole conglomeration of people who develop and market the next big shit-coin trend to gullible fools and they're the same ones behind IOTA. Cryptos are the perfect scam for people who are either too stupid to understand the tech limitations behind it or willingly ignore the tech limitations because they're blinded by their ability to get rich.

That's a lot of shit talking when people are making 1000% profit.

Jeeze what gullible fools

[HiTempguy1]

This quote is hidden because you are ignoring this member. Show Quote

That's a lot of shit talking when people are making 1000% profit.

Jeeze what gullible fools

Nobody makes a 1000% profit in a vacuum. There are plenty of people who have lost their shirts, or will lose their shirts on cryptocurrency. No different than the stock market.

[dj_patm]

This quote is hidden because you are ignoring this member. Show Quote

Nobody makes a 1000% profit in a vacuum. There are plenty of people who have lost their shirts, or will lose their shirts on cryptocurrency. No different than the stock market.

I know and I also think it's a terrible long term investment, but calling people gullible fools for speculating on a bubble that is exploding? Seems unwarranted.