Bitcoin are we in the huge bubble?

[lovethetrade]

Shows you the perils of being too clever.

I didn't like the first big run to 800, and it collapsed.
Still don't like the price even as we speak, but reading the market was pretty easy, it's actually a lot less sophisticated then stocks.

You could smell this ramp coming a mile away. But how could I now speculate in something I have such a low opinion of (pricewise).

So if I could buy a boat of meth , cheap, and resell at a huge gain would I do it? No, I'm not a drug dealer.

1000 for a bitcoin is nuts. Couldn't do it. You?

You don't know it's intrinsic value so how can you have an opinion of it price-wise?

I don't trade bitcoin because I don't understand it, but bitcoin being worth more then gold just some sounds retarted to me.

Exactly, you don't know enough about it. It has all the benefits of gold (medium of exchange, store of value, non-inflationary) and without the limitations of gold (easily transferable, more accessible, faster, lower cost transactions, more secure etc) so there's no surprise it's worth more than gold. How do you quantify all of the advantages it has over gold? That's why it could reach a value you never thought possible.

 

[Robby Luca]

I have never heard of anyone ever use bitcoins and I'm pretty skeptical about it at the moment. Firstly, does the founder have unlimited bitcoins? It's like having unlimited money... Or is it more complicated to scam the system. If anything bad happens, you can lose all your "coins"/money. I would not gamble with that.

 

[gkishot]

You don't know it's intrinsic value so how can you have an opinion of it price-wise?



Exactly, you don't know enough about it. It has all the benefits of gold (medium of exchange, store of value, non-inflationary) and without the limitations of gold (easily transferable, more accessible, faster, lower cost, more secure etc) so there's no surprise it's worth more than gold. How do you quantify all of the advantages it has over gold? That's why it could reach a value you never thought possible.

What is the intrinsic value of litecoin?

 

[Sergio77]

What is the intrinsic value of litecoin?

0 since there can be infinite copies of it at little cost. Gold has real intrinsic value through real tangible scarcity and real high mining cost.

 

[gkishot]

0 since there can be infinite copies of it at little cost. Gold has real intrinsic value through real tangible scarcity and real high mining cost.

When you say 'infinite copies of it', do you mean infinite number of various cryptocurrencies?

 

[lovethetrade]

What is the intrinsic value of litecoin?

Like bitcoin, we don't know the intrinsic value of litecoin. At this point in time, bitcoin has a lot more attractiveness than litecoin even though litecoin may have some subtle technological advantages, therefore it would be difficult to quantify the difference.

 

[just21]

Like bitcoin, we don't know the intrinsic value of litecoin. At this point in time, bitcoin has a lot more attractiveness than litecoin even though litecoin may have some technological advantages, therefore it would be difficult to quantify the difference.

Bitcoin have just agreed to change the protocol, one of the reasons for the acceleration higher yesterday, incorporating something litecoin had previously implemented so I don't think litecoin has any advantage.

 

[SoesWasBetter]

How about the 700 other crypto's? Are they all posers. Is btc the only true god ?

I say btc becomes the Wordstar of crypto. A distant memory , usurped by better and faster.

 

[sle]

I don't trade bitcoin because I don't understand it, but bitcoin being worth more then gold just some sounds retarted to me.

Dude, stop smoking your socks! Total market cap of bitcoin (assuming full mining) at the current price is 50 billion. Total market cap of gold is about 7 trillion. To quote a female swaps trader I knew, "a big difference between a dick and a finger".

 

[sle]

Gold has real intrinsic value through real tangible scarcity and real high mining cost.

That's not intrinsic value. Aluminum, gallium etc have "intrinsic value", since there is a practical industry use (about 10% for industrial use). Gold is valued because of consensus, like many other things we consider valuable.