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teddybear

Bitcoin bubble just busted

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Anyone buying a bitcoin at 16k (or multiples of), either has stupid money to throw away, or is stupid and is throwing money away.

Or btc will keeping going to 100k and he makes a ton of money, meh, who knows

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1 hour ago, teddybear said:

Wanna know how I know?

Took a flight on Saturday. Went to the airport by taxi.

The taxi driver asked me about Bitcoin and if he should buy more. He bought them at $16k.

That's it. If the taxi drivers know about it...

Has been that way for few months. Crypto has gone fully mainstream now. It is, under normal circumstances, a huge red flag. But everyone is also calling it a bubble, which ironically also signals that we're not there yet. 

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1 minute ago, JA8 said:

Has been that way for few months. Crypto has gone fully mainstream now. It is, under normal circumstances, a huge red flag. But everyone is also calling it a bubble, which ironically also signals that we're not there yet. 

I don't think it has gone mainstream yet. 

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2 hours ago, InstantCoffee said:

I don't think it has gone mainstream yet. 

Agree. Talking about it is just phase 1. Now put your money where your mouth is, is phase 2.

I think that will start/ happen in 2018. The real bubble is yet to come. We’re in early so we can have a good ride. Timing the inevitable correction will be crucial. 

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Guest

2018, 2019, 2020.

The time of integration.

The end consumer will not understand block chain.

They won't care what coin they use.

 

They want fast, cheap, and easy.

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3 minutes ago, DjemDiamond said:

2018, 2019, 2020.

The time of integration.

The end consumer will not understand block chain.

They won't care what coin they use.

 

They want fast, cheap, and easy.

Agree. If they want fast, cheap, easy – it's XRP integrations. Been writing a project for merchant system – now dam sure. 

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18 minutes ago, Tinyaccount said:

Unless you are simply Hodling....    in which case the correction is a temporary mild disappointment. :).  Followed by the sunshine of the inevitable eventual rise. :) 

Yes agree, assuming its a correction and not a crash . It took Apple and Amazon several years after the crash to recover and make substantial rises again. And assuming that XRP is like Apple and survives. So my strategy will be to gradually sell XRP in the rise to, let’s say, $ 100 and not hold 100% for 5 years to come. 

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I still think that comparing to a dot com bubble, crypto bubble is going to be way bigger before it bursts. It's because it's way easier to buy crypto today then it was to buy stocks in 2000s and informations are traveling faster nowadays, so more people will enter. Correct me if I'm wrong. ;)

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18 minutes ago, IceCube said:

I still think that comparing to a dot com bubble, crypto bubble is going to be way bigger before it bursts. It's because it's way easier to buy crypto today then it was to buy stocks in 2000s and informations are traveling faster nowadays, so more people will enter. Correct me if I'm wrong. ;)

Naw... sounds about right.

Let's ride it

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Did the taxi driver receive the news that Bitcoin is now unusable by design? That the bitcoin he bought is the wrong one, that will collapse, and he should hurry to swap it for the real one that is functioning as originally designed? Or better yet: buy XRP?

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10 hours ago, teddybear said:

Wanna know how I know?

Took a flight on Saturday. Went to the airport by taxi.

The taxi driver asked me about Bitcoin and if he should buy more. He bought them at $16k.

That's it. If the taxi drivers know about it...

I have so many experiences like this. I went for drinks with a friend the other day and was very surprised when he brought up Bitcoin: "have you heard of this Bitcoin thing, how do I get into it?" Bear in mind this was a 26 year old who spends all their time clubbing, working in retail and who has limited computer literacy and no strong interest in technology beyond buying the latest iPhone each year. News coverage really does get around! 

I think so many newcomers will eventually get burned by jumping into Bitcoin just as current investors begin switching to coins with a proven use case, like XRP. 

Edited by Lungs

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18 minutes ago, Lungs said:

I have so many experiences like this. I went for a drinks with a friend the other day and was very surprised when he brought up Bitcoin: "have you heard of this Bitcoin thing, how do I get into it?" Bear in mind this was a 26 year old who spends all their time clubbing, working in retail and who has limited computer literacy and no strong interest in technology beyond buying the latest iPhone each year. News coverage really does get around! 

I think so many newcomers will eventually get burned by jumping into Bitcoin just as current investors begin switching to coins with a proven use case, like XRP. 

Couldn't agree more! 

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