Comment · Thu, November 21, 2013

CNBC graphic on Bitcoin Performance (11/20 Fast Money)

What they were answering

OutaPlace · -1 points

I really feel the same way. Unless you got on at the lowest point, its really expensive to get into. On top of that, I hear a lot of "get your friends into it" or "help spread the word"....really?! I need to help spread the word about money...? Hmmm..that sounds very much like a ponzi scheme.

On a side note, what happens when the value does go up (as its project by some to grow into 6 figure sums for 1 coin) and people cant afford to buy in. And the volatility is so odd and unstable. If someone sells a bunch thr value drops. This is more like a stock than a stable currency.

My little rant (partially contributed by the fact that I didnt get in a year ago lol)

u/MisterYouAreSoDumb

As the market expands, the same amount of bitcoin will be in the hands of many more people. If the market capitalization reaches high enough, most people will not be trading even close to a whole coin. Then volatility will go down, as it will take a larger number of people to move the same amount of volume in a given time period.

This is a really cool thing to study, if nothing other than to learn about how rapidly increasing demand can affect market trends. A ponzie scheme has an inevitable end. Bitcoin is all up to the free market. It could end in the same fashion, or it could grow and stabilize. One thing is for sure, the shift in mindset it has brought will last for a long time.

Related in the archive

Commentr/BitcoinNov 22, 2013r/Nootropics years

@SUBWAY just retweeted me to their 1.6 million followers mentioning /u/techguy90's Bitcoin purchase in one of their stores, linking to his article.

Replying to BenSBernanke · Assuming this was tonight, it would have amounted to 0.023 BTC... I'll speculate this $18 Subway meal will become **The Million Dollar Sub**. Much like the infamous Million Dollar …

That would be a market capitalization of $924 trillion once we reach 21 million bitcoins. The current total capitalization of the entire planet is only $71 trillion. Seems plausible.

Commentr/BitcoinNov 20, 2013r/Nootropics years

This is how everyone new to bitcoin feels right now.

Replying to qrios · You can also buy local from someone face to face in a public place.

For 20% or more over the highest market price. Volatility is making that option not very useful at this point in time. Eventually the market is going to need to decide if this is a currency or a commodity. It can't be bo

Commentr/BitcoinNov 20, 2013r/Nootropics years

What most investors don't get about Bitcoin as a currency

Replying to ferretinjapan · Bitcoin is not a company, it is infrastructure. It is the equivalent of the internet's ipv4.

No, it's ARPANET. There's going to be a lot of CSNETs and NSFNETs before we see the internet. Bitcoin is merely the first cryptographic currency to gain acceptance. We can use analogies all day long. My point is that th

Commentr/BitcoinNov 20, 2013r/Nootropics years

How To for crash selling

Replying to pyalot · Worked so far... of course eventually the 300 spartans all died, so maybe that's a bad analogy mkay?

I believe that is what he was insinuating. That Bitcoin is going to put up a good fight, but will eventually be overtaken. The, "hold no matter what" mindset is the same mindset the Spartans had when facing the Persians.

Commentr/BitcoinNov 20, 2013r/Nootropics years

If you've been waiting to buy at low prices and now decide that "meh, bitcoin's not that great" don't come back here in 6 months when we are over $1000 and lament over "how you nearly bought some in November"

Replying to [deleted] · More chances for us to buy some on the cheap. Trends show that Bitcoin always springs back up to new heights. I don't see why that would change now that China is in the game and th…

As the market expands, previous trends become less and less accurate. Be careful basing decisions off past tendencies, as the market demand and price drastically alter the way the market reacts to situations.