Bitcoin ATM

[Even Steven]

It's a lottery really. You can lose all of your money tomorrow. Or you can triple your money in 4 months. Nobody knows what will happen, but there isn't much of a point of calculating how much money you'd make if you invested back in ...

All I know is that when people here start talking about how easy it is to make money by buying bitcoin/flipping properties/buying gold/trading silver... that's a sure sign that the market is in the bubble territory and you need to get out.

[Woodenhead]

It's a lottery really.

Definitely. Life is a lottery.

[Even Steven]

Definitely. Life is a lottery.

Hey, even street tacos are a lottery. You might have a tasty meal or you might have nuclear diarrhea.

[Woodenhead]

I had chipotle last night. Won the lottery this morning.

[zerograv]

It's a lottery really. You can lose all of your money tomorrow. Or you can triple your money in 4 months. Nobody knows what will happen, but there isn't much of a point of calculating how much money you'd make if you invested back in ...

All I know is that when people here start talking about how easy it is to make money by buying bitcoin/flipping properties/buying gold/trading silver... that's a sure sign that the market is in the bubble territory and you need to get out.

Crypto isn't the same as traditional fiat currencies. How can we use the same methods to determine a bubble?

[GoStumpy]

This whole thread is friggin hilarious :)

The uninformed always have the strongest opinions on things

[Woodenhead]

The uninformed always have the strongest opinions on things

That's a strong opinion!

[Even Steven]

Crypto isn't the same as traditional fiat currencies. How can we use the same methods to determine a bubble?

Well, all bubbles have the same characteristics, and just because they're in different asset classes doesn't mean you can't compare them. But when talking about bitcoin it's important to separate bitcoin as technology - brilliant, cutting-edge, very useful in other applications ... and actual bitcoins - they're basically limited supply didgeridoos. You can buy them, you can sell them, there's a market for both. It's a limited supply (or so we're told). When you buy bitcoin you don't buy a piece of technology which isn't patentable and can be easily reproduced judging by 1200 other cryptocurrencies on the market. Any govt in the world can come up with their own cryptocurrency tomorrow, they don't need bitcoin for that. You only buy a limited edition Barbie, not the company that makes Barbies.

And since there is no underlying value, the market is driven purely by speculations and emotions. But I'm not saying "you won't be able to make money with it" - after all, if there's emotions driving the market you can take advantage of it and make few shekels from fools who are jumping on the bandwagon. As long as you realize you can be one of them and this is a textbook definition of a bubble phenomena.

[forum]

A long time ago Gold was in a bubble. And then it was Gold.

[Gixxer]

Wow did it take a dive. I basically lost 10k. Oh well time to buy more when its cheap.

[Vacancyrate]

Who cashed out tonight?

I bought myself a steak dinner.

[Gixxer]

Still holding. Ill consider cashing out when it's over 100k or more.

[Vacancyrate]

Still holding. Ill consider cashing out when it's over 100k or more.

I only dumped a small bit.

I'm going long as well.

Keep printing central banks!

[Gixxer]

Did you sell it for cash?