Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
mmitech
on 26/01/2015, 16:49:42 UTC
Quote from: dreamspark on January 26, 2015, 04:40:10 PM
Quote from: mmitech on January 26, 2015, 04:36:31 PM
Quote from: dreamspark on January 26, 2015, 04:29:36 PM
Quote from: mmitech on January 26, 2015, 04:26:08 PM


When the bubble burst...when all the get quick rich kids abandon the ship and fall in despair... so many people said that Bitcoin will die if we revisit double digits and I contradict this...

Thats so vague, 1200 - 160 doesn't count as a bubble burst? The get rich quick people will always be here. Not saying I wouldnt mind a chance to buy in double digits  Grin

nope, it started from lower double digits, so nope the bubble didn't burst.

Thats crazy though, we're two years down the line in terms of new users, media attention, big investors and infrastructure. If thats the line your going with then surely we should be back to 0 as thats where it started.

The meaning of a bubble is that bitcoin was way overpriced compared to its real value and the infrastructure and ecosystem is just catching up, although the value of Bitcoin is way better than it was 2 years ago, I think the price still doesn't reflect that value, in other words I think it is waaaaaaaaay over price against its value, lets not forget that Bitcoin is still Beta.

Bitcoin was driven by speculators and it was pumped so hard by Gox which was easy because the lack of regulation was the heaven for manipulators....if this will turn to be a reversal, I wouldn't buy Bitcoin nor use it, because it would be a clear ponzi, pump and dump scheme.