BITCOIN GETTING MURDERED Tonight

It's interesting because you can overlay the charts from Bitcoin, Ethereum and LiteCoin and they are similar in many regards over certain periods of time.

Other instances LiteCoin (the least used of the 3) gets hit, then Ether gets hit .. then Bitcoin .. like Dominos.

 

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Oh my lord guys, bitcoin is getting murdered again...we are all the way down to 1 bitcoin = 8,024 USD....

 

Lower highs after a dip. Not good.

 

Depends where you define you highs and lows....

 

https://imgur.com/Tisy6e5

 

The graph is still the classic “bubble”.

 

Hi V. Kurt Bellosaur, what you are looking at on that chart are 4 distinct "bubbles".

The first goes from 2 USD to 32 USD in 2012 and subsequent crash to 5 usd. The second "Bubble" took bitcoin to 252 in Spring of 2013 followed by a crash to the 50's. "Bubble" #3 occurred in the Fall of 2013 taking bitcoin to a high of over 1000 usd each and the bear market which followed went down to 200 USD.

We just had "Bubble" #4 which got us as high as 19,000 USD.

These are not bubbles, in my opinion, but waves of new adoption. Very similar pattern to how many new technologies have been adopted by the main stream public. It has been an incredibly fun and profitable ride, have you enjoyed jeering from the sideline?

 

Well then you're wrong. Simply "Google" "anatomy of an asset bubble"; read, and learn. You sound like someone who got in too late and now is consumed with how to "pump and dump" their Bitcoin, just like all the silver promoters on this site.

 

Yeah, Kurt, I got in too late.

https://imgur.com/3wClO9b

Are all these bubbles, Kurt, or adoption curves? https://imgur.com/WOoDSwe

 

Nice profit, I forwarded a copy to the IRS to save you time on your return

 

That is my return, obviously. I just got done, fun check to write actually.

I have always been happy to pay taxes, I just wish the funds were used a bit differently.

To keep it coin and silver related, here is a Casascius Silver 1 BTC. There is a private key for 1 BTC under the hologram. https://imgur.com/RAA3Xp3

 

Hope you don't mind, I pulled a copy of that adoption-curve image to post directly.


This is an interesting chart. But you know what I'd really like to see on it?

CB radios.

VCRs.

Betamax VCRs.

Fax machines.

Film cameras.

My point: some technologies display bumps on their way to "full" adoption -- but some never get fully adopted, or get fully adopted, then abandoned. The only way to tell the difference between a "dip" and a terminal decline is in hindsight.

I'm glad I didn't buy Bitcoin at $15K, but I still have very low confidence that it will go to zero (or sub-$1000). In fact, I have very low confidence that it won't surge into six figures.

But I guess it's part of my nature to have low confidence in things, and to avoid speculating heavily in things I'm not confident about. That means I'm unlikely to Get Rich Quick, and maybe unlikely to get rich at all.

Oh, and congratulations on your windfall. You should put some of it into a nice coin or two, and post them here!

 

Hi jeffB,

I agree with all you said above 100%. Bitcoin could be myspace or betamax - but also consider that from myspace and betamax came facebook and all the digital media we have now. Bitcoin may ultimately not be the successful crypto, but I think it has shown crypto currency has a real life use case.

Back in 2013 I was considering buying a fancy range rover for a car...instead I bought a VW and invested the difference in bitcoin as it was an amount I could afford to lose/waste on a fancy car. So far, so good....

I have bought some nice coins with some of the proceeds, as well as property and bullion.

 

Nice!

 

I bought 0.0007 BTC and I’ve already made $1.00!