Quote from: chesthing on October 18, 2017, 02:44:37 AM

Quote from: The Pharmacist on October 18, 2017, 01:40:54 AM

Oh dear lord, this is the kind of crazy stuff that happens when you have a bubble.

In the 90s, there were stories of people quitting their day jobs to become online day traders. And it's a great plan as long as the market keeps going up. The bitcoin market right now is reminiscent of that, and it makes me extremely nervous. That's why I've been buying some gold & silver. Those things are most certainly not in a bubble.

The end stage, the pre-popping of a bubble looks exactly like this: Everyone starts piling in to buy whatever is inflating. People start getting manic, and the price just keeps going up and up--and then it pops. I do hope that's not the case with crypto right now. It's so hard to tell, but it just seems like a replay of crazy markets I've seen in the past.

This is the sort of stuff you see from dysfunctional people, this is not an indicator of whether this is a bubble. No responsible parent would do this to their kids no matter how confident they were in some market.
I'm calling bullshit on the story to begin with, everyone looks too happy and healthy to be in such a desperate situation.

I think it may be a combination of both factors, no one on his five senses would jeopardize the future of his family by investing everything in something they do not know if it is going to become successful or not, but at the same time the price of bitcoin has created such an enthusiasm that this is similar to all those people quiting their jobs and that began flipping houses for a living only to be destroyed when the economic crisis hit them.