discuss The Bitcoin Bubble...

[DanBingham]

It's safe to say that the value of Bitcoin soared during 2017, with many joining the bitcoin herd.

On Friday this week bitcoin trading was partially suspended as the value of cryptocurrency plummented. So much so that prices dropped by 44% from last week's record highs.

So what does this mean for bitcoin in 2018? Is the bubble about to burst?
What are your predictions?

 

[ramkumaritrvs]

I do expect the North Korean war this 2018. No doubt, its not you, its not me, it could be anyone that triggers it. Be ready, take money out, and go back to domain names . I am not rooting for anyone, but I do predict that.

Bitcoin is not behind or backed by any country.

China banned bitcoin trading and market is still up 800%.

I believe that bitcoin is game changer because of it's features like decentralized, no govt rule, hassle free banking etc.,.

I do accept that bitcoin have some issues like increasing fee, more transaction time and few tech related issues but dev's will fix all these issues and make bitcoin more stronger in coming days.

Even if bitcoin failed, crypto currency is the FUTURE.

JMO.

 

[Kuffy]

You need USD to buy domains, most sales are in USD. I get very suspicious if someone asks for bitcoin, if I'm going to release a domain name to someone I want there to be a traceable record of some kind.

Most domain name sales seem to be quoted in US Dollars, and that makes comparisons simple. It doen't mean that the sale has to be conducted in Dollars though, In fact US Dollars are one of the most difficult currencies fornon-US residents. The US banking system has refused to drag itself into the 21st century. My dollar account was with Citi, and it was with Citi in London, but funds were cleared through the New York branch. They charged me £5 to deposit a dollar cheque into a dollar account, and some transfers had to be converted into Sterling for a transfer, and then converted back into dollars to be credited to my account. This is because the US has hung onto the ACH clearing system, and this is not an international standard.

I accept your comment, and unfortunately it is an opinion shared by the majority of domain name buyers. For this reason I encourage my buyers to use a Name Silo push to acquire my names. This gives them a wide range of payment options ( including PayPal which I hate ), and I can draw out my sales revenue in Bitcoin regardless of the buyers method of Payment. I'm happy to pay the small percentage they ask for this service. It is a small price to pay for the convenience, and the removal of the need for escrow.

For direct sales, I can only offer Bitcoin, Payoneer, and Sterling bank transfers ( or cash ). Anything else is subject to negotiation.

 

[NameOmnia]

Blockchain is a game changer.
Cryptocurrencies are a game chager.
Bitcoin is not; it is the past already and soon it will go back to what it was supposed to be; a currency not a highly speculative investment which btw is worth zero if not backed by those fiat currencies it was created as an alternative to.
That goes to explain how fake all this btc value is.

 

[stewmath]

I own bitcoin but im holiding onto it for the long hail. I originally only invested like $50 worth a few years back and its now worth close to $2k. We have to make alot of bitcoin payouts on a regular basis with being the owners of bitcoinreward and the transaction fees are rediculous

 

[Kuffy]

Blockchain is a game changer.
Cryptocurrencies are a game chager.
Bitcoin is not; it is the past already and soon it will go back to what it was supposed to be; a currency not a highly speculative investment which btw is worth zero if not backed by those fiat currencies it was created as an alternative to.
That goes to explain how fake all this btc value is.

I don't agree. Bitcoin is still unique for a variety of reasons, and it will never be a volume trading currency. This is especially true now that the banks are quietly taking Bitcoin out of the market. I think it has become digital gold, and will be used as PoS for alternative currencies as they evolve. Fiat currencies are virtual currencies with massive debt burdens dragging them down. The last thing we want is an association with any of the valueless fiat currencies.

 

[NameOmnia]

I don't agree. Bitcoin is still unique for a variety of reasons, and it will never be a volume trading currency. This is especially true now that the banks are quietly taking Bitcoin out of the market. I think it has become digital gold, and will be used as PoS for alternative currencies as they evolve. Fiat currencies are virtual currencies with massive debt burdens dragging them down. The last thing we want is an association with any of the valueless fiat currencies.

I respect your opinion but I disagree; btc is worth nothing without fiat currencies... 1 btc would just be worthy 1 btc if you could not convert it into one of the currencies you hate so much.

The whole purpose of btc as a decentralized alternative to fiat currencies has been defeated the very moment people used it as a way to make a lot of money ( fiat money ) through it.
BTW those who have made million are the early adopters, those who ALWAYS make money in a bell curve...the others, the later adopters, are going to pay the price for being bandwagoners.

 

[Jasonn]

If only it would, that would give me a lot more coins for my names.

There is no way that it will stay down, The bankers are too worried about it. That's why they created the fake futures market, and why they are buying coins to remove them from the market. The greater the scarcity, the higher the price. The rapid climb pulled a load of rabbits into the market, and they borrowed money to buy Bitcoin. Now they are saddled with more debt. Globalists like debt, because debt is slavery.

Nothing has made bitcoin any more valuable now than when it was 250 or 2 dollars. Just more people buying it driving up the price.

Also, remember every time you get paid by someone it in bitcoin it could of been stolen. There are tens of millions of dollars in stolen bitcoin out there. A lot of thieves making it big after stealing bitcoin when it wasn't worth near as much.

 

[Kuffy]

Nothing has made bitcoin any more valuable now than when it was 250 or 2 dollars. Just more people buying it driving up the price.

Isn't that what makes any commodity more valuable. I don't believe that it is "people" that are the major influence. I believe that it is financial organisations that are collecting Bitcoin privately, whilst the attempt to trash it publicly. It's an interesting speculation, and not for widows and orphans. As I stated in another post - If you have £1,000 that you are prepared to put on the nose of a horse in the Grand National, then you would be better to use it to buy Bitcoin, but don't bet the mortgage money on Bitcoin.

 

[dragtastic]

There is no bubble. BTC is here to stay.

 

[Premiums]

bitcoin is real

 

[wwwweb]

I own bitcoin but im holiding onto it for the long hail. I originally only invested like $50 worth a few years back and its now worth close to $2k. We have to make alot of bitcoin payouts on a regular basis with being the owners of bitcoinreward and the transaction fees are rediculous

Yes, fees, and speed are slow due to heavy useable. I don’t believe anyone knew it would get to where it would, be used as much as it has been this quickly.

Agreed we are constantly charged exchange fees, clearing fees, currency fees for what reason, simple commands can carry out simple concepts.

When I pay a bill, it takes 2 days to clear, why? Because these institutions want basically a tax off every traabction we do, and technology has outpaced them now, and let’s see what happens.

 

[alcy]

mmmm. why are people who say btc is btter than paper money and how it'll replace paper money.. are all cashing their bitcoins for dollars?