Cryptocurrency/Altcoin

[d0t0g0d]

Stop trying to predict where BTC will be years from now...and instead align yourself with the action that is happening RIGHT NOW.

[d0t0g0d]

? what

Did I say something complicated?

[Disciple]

bubbles dont burst in a month's time

[yns]

Bubbles burst near instantly. There's a bank rush. And when this one bursts, it's going to be even more catastrophic. Transactions aren't confirmed immediately, there's like 230k unconfirmed transactions at this moment. In the event of a bank rush, miners will jack up transaction fees to exorbitant levels. That, plus the fact that you can only trade your bitcoins when someone's willing to buy them, means that the glut of people who got in late and are trying to sell won't have enough buyers to sell to and will lose even more money on insane transaction fees. This event is inevitable

[d0t0g0d]

How can people just assume they are smarter than the rest of the world?

[d0t0g0d]

Bubbles burst near instantly. There's a bank rush. And when this one bursts, it's going to be even more catastrophic. Transactions aren't confirmed immediately, there's like 230k unconfirmed transactions at this moment. In the event of a bank rush, miners will jack up transaction fees to exorbitant levels. That, plus the fact that you can only trade your bitcoins when someone's willing to buy them, means that the glut of people who got in late and are trying to sell won't have enough buyers to sell to and will lose even more money on insane transaction fees. This event is inevitable

So you shorting BTC futures Sunday night? When will you cut your loss if it keeps rising?

[yns]

How can people just assume they are smarter than the rest of the world?

It's not that we're smarter than the rest of the world. A lot of the world realizes this. The majority, I'd say. However, many have still been duped by blind optimism and a fear of missing out on getting rich. BTC has all the hallmarks of a bubble, and additional problems that will make the burst event even more devastating. You just have to look at it objectively to see that. 1700% growth in one year for no fucking reason other than other people buying in is definitely evidence of a bubble.

[yns]

So you shorting BTC futures Sunday night? When will you cut your loss if it keeps rising?

No, I'm waiting until the NASDAQ futures open. I think the futures market has to be decently well established before the bullish nature can be reigned in. Then it'll all fall apart

[matty]

i hope your right yns i want those assholes to pay, getting all rich and happy from there bit money

[yns]

i hope your right yns i want those assholes to pay, getting all rich and happy from there bit money

All theoretical wealth. They're so greedy that most of them are gonna keep riding it and will lose it all in the impending crash.

[midman01]

>when your beanie babies have just enough college algebra and computer science 101 fundamentals to become digital gold

[d0t0g0d]

It's not that we're smarter than the rest of the world. A lot of the world realizes this. The majority, I'd say. However, many have still been duped by blind optimism and a fear of missing out on getting rich. BTC has all the hallmarks of a bubble, and additional problems that will make the burst event even more devastating. You just have to look at it objectively to see that. 1700% growth in one year for no fucking reason other than other people buying in is definitely evidence of a bubble.

http://www.azquotes.com/picture-quot...n-29-86-10.jpg

I really don't have a problem with anyone saying Bitcoin is in a bubble, but when it comes from the mouth of some Stanford clown who missed the BTC boat, lost money on the .com crash, and is just blabbering on the hot topic of the week because he wants to get his click count up, AND doesn't give any actionable advice...I just have to say something.

[divine]

d0t0g0d posts xD

[yns]

http://www.azquotes.com/picture-quot...n-29-86-10.jpg
.

[yns]

http://www.azquotes.com/picture-quot...n-29-86-10.jpg

I really don't have a problem with anyone saying Bitcoin is in a bubble, but when it comes from the mouth of some Stanford clown who missed the BTC boat, lost money on the .com crash, and is just blabbering on the hot topic of the week because he wants to get his click count up, AND doesn't give any actionable advice...I just have to say something.

You're an idiot. His actionable advice is get out now.

[d0t0g0d]

Cryptocurrencies is the future, get out now!

[yns]

They may be the future, but that's years off and Bitcoin is certainly not the crypto of the future. It was just the first to gain popularity. Cryptocurrencies that have a price pegged to something like the CPI have a future as digital currencies. Nothing like Bitcoin will be viable as a currency due to volatility.

He's saying to get out of Bitcoin now before the bubble bursts. No one can predict exactly when a bubble will burst. There's telltale signs of a bubble existing, meaning that the collapse is inevitable, but the collapse comes all at once with no forewarning

[matty]

my visa card honestly works pretty good still, like i can order shit off amazon and it's on my doorstep in 2 days

[matty]

like how does this meme money improve that

[yns]

like how does this meme money improve that

It's not for a country like the US. A cryptocurrencies tied to the CPI is aimed at a country with an unstable currency like Venezuela or developing nation's in general