Quote from: randythered on December 16, 2018, 02:09:10 PM

Firstly is it really necessary to use derogatory language and demean countless people in the process?

There's very little censorship of language on this forum, and calling an enormous group of people retarded is not the worst insult I've ever heard. Not even in the top 1000.

OP, markets can get very irrational and what I think a lot of these bulls are hoping for is another stretch of severe irrationality, i.e., bitcoin going to $100k or more. I mean hell, bitcoin already reached $20k at its peak, so it's not outside the realm of possibility that it could hit $100k one day. If your definition of retarded is being so hopeful that bitcoin is going to make you 100x your original investment that you can't realistically see all the barriers and problems and you invest more money than you can afford to lose, then I'd agree with that definition.

People like Peter Schiff drive me nuts and also would fall into the category of being retarded, even though he's extremely successful. The problem with him and others like him is that they're constantly telling people to buy! buy! buy!, whether it's gold or bitcoin. And when any market has just been through an extreme bull run, like gold in 2011 or bitcoin in 2017, there are going to be people losing their heads worrying that they might be losing out on an opportunity that just...maybe...the market is only cooling down a bit.

What happens is that they end up with the result of every bubble (pop!), and they buy in right when the price is falling (or is staying flat). I probably wouldn't insult them with epithets, but they're definitely greedy and blinded by the fear of missing out. Nice provocative thread you got going here, OP.

Quote from: exstasie on December 16, 2018, 10:08:21 PM

Transaction batching and Segwit adoption have definitely improved things since then and Lightning transactions are extremely cheap and fast.

I used to think that bitcoin could never get to $1 million because of fees, but then I started understanding things like you mentioned, plus the possibility of doing OTC transactions as well.