Bitcoin Top?

SoesWasBetter said:
gee, that never stopped a stock from taking a steaming crap when the time was right

are these people of a different breed of human?
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There are reasonable ways to evaluate the value of company or commodity. There's really no way to evaluate the value of bitcoin. Some people (such as McAfee) really seem to think that it's going to $500k / coin. Bitcoin is pure speculation.
 
One of my friends asked the other day "Pete, should I put some money into Bitcoin" - he's a great guy but he's a welder and no knowledge at all about financial markets.

So I told him no and he asked why...

"Generally speaking, when people like you start asking about an investment, it's already over".

Not meaning to be impolite or anything - but when the general public all think somethings a great investment....
 
trademan1 said:
Unless I’m not thinking about this the right way, I see the biggest problem being how is there not a 100% chance that the US gov, any developed nations Gov., will step in to regulate this because of illegal activities like drug trafficking, money laundering, etc.?

Drug cartels have to be loving this. Terrorist groups as well. How would the US gov just not do anything?
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I'm in this scene for years, and your comment sound exactly like the ones in 2013.
Thereafter the FBI and US gov did indeed do their research and concluded it was best to regulate it like banks: what they actually did. Now all US Bitcoin-exchanges work according those rules! IRS works by those rules. SEC monitors abuses.
 
trademan1 said:
And those odds only increase as the price continues to climb. A friend told me he knows some guy who maxed out his credit cards buying bitcoin.
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As bitcoin is a criticism of debt based money this is brilliant. I took a margin loan which I paid off later.
 
I don't know whether this will be a top as stated , but I'd be surprised if it hit 500,000, and I don't think long term it will be a good investment , if it's not a top it will be soon for that reason , it could shoot on up , but only in the short term , a matter of weeks, just a guess. I suspect by 2020 people will be asking what all the fuss was about. At a very rough guess I think mkt capitilisation starts rivalling that of gold at around 200 000 a coin. Sticking my neck out I would suggest the chances of this being a top are approaching 50.50 . One serious worry is that I believe a slow decent will be hard to achieve , if it starts slowly going down I believe it would accelerate. At present it's value is not that it's usefull , it's that it's going up.
 
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