Bitcoin at $10,000 is even more dangerous

[Dotachin]

Thats something entirely different. You cant compare a decentralised currency with a fixed total amount with tulips and stocks.

I am not comparing bitcoin with tulips. I am drawing parallels between the "rapid raise in the speculative value of both". The point of importance is not the object itself but its value, which was/is unsustainable and resulted in crash in case of tulips. Tulips existed then in the same form as they do now. And so will bitcoin. But the value will never remain same.

No its not, and banks are pulling the biggest ponzi scheme on us. Did you know that if everyone were to ask the bank for is money back, they wouldn't be able to give you your money back because they simply dont have it?
Remember what happened in Greece? People were only allowed to withdraw 60 euros a day.

http://www.news.com.au/finance/econ...s/news-story/90ccca6556da55ba773716eabc9bce40

You should read in detail of Greece crisis and how it started. Blaming the banks is just the scapegoating. Read how they cooked their books to get admission into EU and then went on taking huge level of borrowing (based on that false data) to fund unsustainable expenditures. When time came to pay the debts, the economy went belly up. It was the Greek politicians who were running ponzi scheme not the EU bank.

What you posted above is the direct result of when you take on debts more than you can pay. You end cutting your expenses to pay back what you owe. and thus the 60 euro a day limit cuz the Greek govt. had to pay back.

 

[HannibalBarca]

Its my own opinion. The article vindicated my opinion so I posted it here. But you have your reasoning to invest I have my reasoning on not to invest. Time will be the answer to it.

A seasoned investor(with millions in turnover) hates short term volatility of such levels, no matter how positive the results are in the end. Take a look around all economists or people in financial world are interested in bitcoin and the way it operates. But none are buying it (even if they do its just short term buy sell or very low fraction of investment just to test out the waters). Its the common people who is running to invest his life savings (which is what leading to this speculation) and its not a good sign. Its beginning to look like textbook case of speculative bubble. Bitcoin is a great concept, I only have problem with its immense volatile nature.

Jpmorgan made an anti-crypto statement...because of his traders ...trading on Bitcoins... after the statement, price fall off (-35%)... and then what happened? 2 weeks later... we enjoyed a book order from Jpmorgan during that dip of around 50-70M$... and that's only jp morgshit... Goldmansachs... opend a trading floor...on Bitcoins...
Traders (Scalpers)love Bitcion for his very high votality and exceptional dip and tops...

Just an idea... only scalping at around 5-6 orders per day... you get yourself...on a safe day... at around +25%...

And as for IRL utility...well Besos... "appreciate" the idea to buy with Bitcoins and Litecoins on Amazon...

Thing are changing...even last Chinese crackdown on Exchanges this summer...is over and they are back on track with Official Permit to work with... Alibaba is even testing Bitcoin transaction with few sellers...
Bitcoins is a commodity...few want to put it into securities...but heck it didn't work...
And last... Japan just make it legal to exchange in Bitcoin... in whatever "transaction" at the condition the buyer/seller accept it...

ps: Japan became the new capital of Bitcoin after Chinese crackdown... they took that opportunity of void..;and they did well...

 

[BHarwana]

told you it will dip 2000-USD and dipped 2000 USD