BTC ATH right now. over $8000/btc!

[johnarb]

Nothing makes BTC worth that much, except the madness of the masses. The network effect can be overcome in no time. Guess what was Bitcoin Cash' user base after the fork? Right away it had the same number than BTC users! It didn't take 10 years, it took 1 fork.

But even if I pick Litecoin, it spread something like 4 years faster than BTC. I could look up ETH, I bet its spreading time is 10 times BTC's. Simply put: The network effect is over rated. The only reason people use I mean hold BTC more is because its price. For a short time this was reversed and BCH value was going up while BTC was dropping, Had that trend stayed, in no time the usability and userbase of BCH would have overtaken BTC's.

Your arguments are valid and what you describe can happen but at this current point in time, the fact is that the market only accepts bitcoin for universal acceptance as payment and store of value (yes, others also hold their value, but the most trusted one is btc even if it's a subjective statement). We live in interesting times and I think traders/speculators can benefit in this market while mitigating the (perceived) risks.

 

[Surprise]

Nothing makes BTC worth that much, except the madness of the masses. The network effect can be overcome in no time. Guess what was Bitcoin Cash' user base after the fork? Right away it had the same number than BTC users! It didn't take 10 years, it took 1 fork.

But even if I pick Litecoin, it spread something like 4 years faster than BTC. I could look up ETH, I bet its spreading time is 10 times BTC's. Simply put: The network effect is over rated. The only reason people use I mean hold BTC more is because its price. For a short time this was reversed and BCH value was going up while BTC was dropping, Had that trend stayed, in no time the usability and userbase of BCH would have overtaken BTC's.

Good post , agree , its the madness of the masses as usual , and the price , they keep checking the price , they didnt buy it at 10 cents they want to buy it at $8000 , thats : retarded + bubble = A joke to tell for generations .

 

[Hoi]

Good post , agree , its the madness of the masses as usual , and the price , they keep checking the price , they didnt buy it at 10 cents they want to buy it at $8000 , thats : retarded + bubble = A joke to tell for generations .

You realize that those "they" you are referring to, are intelligent, high educated, wealthy fund-managers? No masses yet (that stage will take some years from now, still).

 

[schweiz]

You realize that those "they" you are referring to, are intelligent, high educated, wealthy fund-managers? No masses yet (that stage will take some years from now, still).

If that would be true the volume would go massively up. Why is volume then going down?
How do you know that intelligent, high educated, wealthy fund-managers are buying? Do you know them or do they tell you what they do?

 

[Surprise]

If that would be true the volume would go massively up. Why is volume then going down?
How do you know that intelligent, high educated, wealthy fund-managers are buying? Do you know them or do they tell you what they do?

View attachment 179687

Its called delusion phase in a bubble cycle , the guys he is speaking of bought btc long time ago "smart money" .

 

[Hoi]

If that would be true the volume would go massively up. Why is volume then going down?
How do you know that intelligent, high educated, wealthy fund-managers are buying? Do you know them or do they tell you what they do?

View attachment 179687

Michael Novogratz is one. And MAN group is front running the CME futures release.

 

[Hoi]

Its called delusion phase in a bubble cycle , the guys he is speaking of bought btc long time ago "smart money" .

View attachment 179688

We are still in the awareness phase. And with a disruptive technology you don't have Bell-curves but S-curves.

 

[schweiz]

So bitcoin transactions are not anonymous? That's just the opposite of what all believers say.
If not you cannot know who bought or sold.

On the "smartmoney" I agree that was a good moment to buy.

Most people I know who buy bitcoins just buy for a small amount as they don't want to risk a lot of money. The higher the bitcoin goes the smaller the impact of these buyers (which were in past the main buyers). At the actual prices it is not a bargain and doubling from $100 is far more easy then double from $8,000.
You should put the bitcojn charts on a logarithimc scale and watch the chart again.

 

[Surprise]

We are still in the awareness phase. And with a disruptive technology you don't have Bell-curves but S-curves.

View attachment 179690

haha yes institutional investors at elitetrader and etoro and facebook selling their belongings to buy BTC at ATH !

 

[Hoi]

So bitcoin transactions are not anonymous? That's just the opposite of what all believers say.
.

That's BS. People like me never said it was anonymous. We talked about "pseudo anonymous", and that's the way Bitcoin was in the past 9 years. But it will change soon, as it is programmable money and this feature is high on the agenda of Developers.