If you bought a product in January using Bitcoin...

Macca1 said:
It might very well be 1999, but we were buying in the early 90s.

Exactly, no one cares about earnings and profits anymore. Value investing is dead.
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Temporarily. You know, Warren Buffet missed out on the 90s tech craze, because it didn't make sense to him. He doesn't seem to be hurt by missing out. Eventually he was proved to be right, that is not to say a few people got really rich by timing the craze. But MOST people lost money eventually and that is going to happen to the crypto madness.

Also lots of people who were paper millionaires eventually gave back their gains, because they kept buying the dips. Don't be like them. Enjoy the run, just know that the music has to stop sooner or later.

And no, in the 90s analogy the early 90s part was when bitcoin was in the low 3 digits. Or better yet when it was under 30 bucks. Right now we are closer to 1999.

Party on!
 
Pekelo said:
Temporarily. You know, Warren Buffet missed out on the 90s tech craze, because it didn't make sense to him. He doesn't seem to be hurt by missing out. Eventually he was proved to be right, that is not to say a few people got really rich by timing the craze. But MOST people lost money eventually and that is going to happen to the crypto madness.

Also lots of people who were paper millionaires eventually gave back their gains, because they kept buying the dips. Don't be like them. Enjoy the run, just know that the music has to stop sooner or later.

And no, in the 90s analogy the early 90s part was when bitcoin was in the low 3 digits. Or better yet when it was under 30 bucks. Right now we are closer to 1999.

Party on!
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BTC trumps teh tech bubble. It's unprecedented. It's also combined with a real asset bubble(stock market/ property).

In my 90's analogy i'm referring to buying BTC/USD in the low 3 digits. That's about how long you've have been preaching the bubble for isn't it? Sure you could be right eventually, but how long is a piece of string? You'll turn into the "Boy who cried wolf".

IMO The CME launch could be when the party starts....
 
Overnight said:
I agree. There will be some wild action when (and if) the thing is approved.
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I really hope it doesn't. Will it remain fungible? Predictions? Part of me thinks the bears will be in full force to bring it back to reasonable levels, but the power of the average Joe dollar can't be underestimated. Hell, it may just end up trading like an index (price wise).
 
Here4money said:
I really hope it doesn't. Will it remain fungible? Predictions? Part of me thinks the bears will be in full force to bring it back to reasonable levels, but the power of the average Joe dollar can't be underestimated. Hell, it may just end up trading like an index (price wise).
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IMO Circuit breakers will get tested pretty fast . I expect a few Limit down days. If it all works out then eventually the futures contract will end controlling the exchange prices- HFT will run the book & reduce overall volatility.

I don't understand all the nuances enough, however, it seems like a risky proposition for CME / any clearing firm .
 
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