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HoloDust on 13 August 2017
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Slownenberg said:
HoloDust said:

There is a reason why "greater fool theory" is called that way.

Bitcoin is currently in its Mania phase on diagram, that's the reason why it's gaining so much "value". But, it's just another bubble.

Now, as somone who profited in life from some bubbles, I'm really entertained by people saying that something will just keep rising, especially when certain something shows all the signs of bubble.

But as I said, some people will get very rich (many already have), and many, many others will loose a lot of money.

There is future in blockchain, it's just not Bitcoin and all other private unregulated currencies (not that any of them are currency to begin with).

Something like FedCoin/BitDollar will come and then that will actually be money.

Like I said, I feel awful for the person giving the bad advice (you, here) and the people who will listen to it.

Bitcoin is not in its mania phase haha, far faaaaaar from it. It is still in its smart money phase (i.e. most people haven't even heard of it yet, let alone have any money in it, and most people who have heard of it only hear about it when its making news for going up so much and so everytime those people hear about it they claim its in a bubble, no matter how many times it goes up, the "bubble" pops temporarily, and then it keeps heading higher. Institutional investors haven't even started getting into it yet, let alone the public heavily adopting it. It is still incredible niche, hardly anyone has bitcoin yet on the global scale. Its going up so quickly because it is at the very bottom of the exponential curve.

Wait a couple years, until any investment firm worth anything allows people to buy bitcoin through them and people start to view having bitcoin as a normal part of their investment portfolio. Price will be at the very least several tens of thousands if not over a hundred thousand dollars a coin by then, and still heading skyward.

Yeah, just like i said, I'm indefinitely entertained by the likes of you.