Quote from: thecodebear on December 09, 2018, 05:31:20 PM

Quote from: jadenunderhill on December 08, 2018, 07:08:48 AM

Quote from: thecodebear on December 07, 2018, 10:58:28 PM

Quote from: jadenunderhill on December 07, 2018, 10:05:25 PM

Quote from: thecodebear on December 07, 2018, 09:06:30 PM

Quote from: jadenunderhill on December 07, 2018, 05:50:48 PM

Quote from: Oceat on December 06, 2018, 10:04:56 PM

Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.

Doesnt't care, yeah. We are at 3 200 and going down fast. And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..

And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.

When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.

Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
Im surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.

The golden rule of investing (well one of them): no, this time isn't different.

People thought the same way you are when Bitcoin was $200 in 2015 (I was one of them).
And Wall St has barely entered the market. So not sure why you are saying that somehow that makes this crash different.

Generally the worst thing you can do is assume that this time is different. The last boom wasn't different than any other boom, and people who thought the price would just keep going up and never crash were wrong cuz they decided "this time is different", and you are doing the same thing now.

But hey, all it means is that you're gonna miss getting in at the bottom of this cycle. Doesn't bother those of us who are loading up accumulating cheap Bitcoin now.

The time will show. But 17 years ago when DotComs crashed, many people had said the same, no, this time isn't different. And lost everything.

Only the people who invested in shit companies, the corollary today would be investing in shit altcoins and shit ICOs. Bitcoin is the Amazon of the crypto market. Pretty sure nobody who held Amazon stock through the dotcom crash into today is complaining about making a crazy amount of money.

"No this time isn't different" is a general rule of investing, it has nothing to do with trying to say oh this one thing one time happened so that means this time is gonna be like that one time in an entirely different market and so the rule doesn't apply. Your logic and argument is extremely weak.

I'm not sure that Bitcoin is Amazon. Bitcoin is slow, it consumes a huge amount of electricity, and it is almost immposible to make any useful changes because miner groups or big exchanges will block any decision. Its only advantage that it was first and that is why it is more popular. This could change.