Quote from: Kemarit on November 23, 2017, 09:18:41 PM

Quote from: jaysabi on November 23, 2017, 06:22:46 PM

Quote from: jak3 on November 03, 2017, 06:54:56 PM

I don't know what to say on this effect but it's like and the price is going up the peoples are getting more interested in Bitcoin. Even from my locality many people have requested they want to know about Bitcoin, so I think Bitcoin is being adopted more frequently in all over the world and with this page I think we can cross $10,000 in around 2 years.

Without the massive price appreciation, most people would not be interested. The people buying bitcoin aren't buying because they think it's a system that is better than fiat or the USD, but because they view it as a system for acquiring more fiat in a fast and risk-free manner. The price appreciation has made people irrational. So you're right, the price going up is getting more and more people interested, and it's the wrong type of people because of the reason they're getting interested.

In addition, those kind of people who are in it for a fast and risk-free manner and also the same people who are going to immediately sell bitcoin in case their is a price dip. The mindset that bitcoin is a quick rich scheme is very wrong from the beginning. And as far as a market crash, its certain to happen, but no one knows when. Still the price today is above $8100 which is very strong still. And we are holding it and the crash to $7500 has never occurred. The only thing that will make bitcoin and any market to really crash is that a negative news or an attack to the bitcoin ecosystem. But as always, sometimes we really need some market correction to go to the next level.

Agreed, but there's no question now that the major parts of this market hold this mentality. Utility of bitcoin, adoption, or the technology of the blockchain don't mean anything to people who are just speculating on the asset price and helping to drive the wild price swings. It's even bleeding out into the traditional market where companies are changing their names to include the word "blockchain" and seeing their stock price double in a week (like Riot Blockchain, which is a garbage company that was a failed biotech and now has doubled this week alone because they changed their name to Riot Blockchain). Blockchain is the new dot com. We are definitely in a bubble, and it's not confined only to the Bitcoin price itself.