How will the Bitcoin Bubble Pop?

Well it's certainly not what it used to be.

Come to think of it, I wonder what minuscule percentage crypto mining hardware has bumped gold/copper/silver consumption.

It does because of the high volatility it has however the rate of volatility is truly unsustainable and also keep in mind it still is in a speculative bubble. The question is when the bubble will pop.

Yup- gold is also a bubble of sorts since people always seem to believe that it is a good store of value (It obviously is not).

Big money does realize this...but it already has a system tailored for it to do so- it will be quite a while until big money does in fact adopt crypto and it becomes mainstream.

I should elaborate. The next btc update makes the btc chain less beholden to miner power due to off chain transaction being possible. That's why they are saying lightning is centre's alive tyranny everywhere, because they prefer to be the centralized tyranny themselves. I hope both btc and bch dies. Staying safe in eth and tokens and lumens while this war plays out.

You might not be as safe as you think you are user... most people invest in alts with the notion that once the alt rises in price they will cash out in bitcoin and take the profits. The speculation isn't just alive in bitcoin but also the alts as well (we would be kidding ourselves if we didn't admit the same problem of a speculative bubble being alive in other currencies). As a result when the bitcoin bubble pops so will the crypto market as a whole. I don't know if this might causes eth and other alts to fail but it might serve as an opportunity to buy the dip- we have no idea.

When tethers crumble

Could you please elaborate user?

dot com bubble pooped at 4-5 trillion so maybe 10 times that

Fair point- but I don't recall the dot com bubble having as much volatility as bitcoin nowadays. Please correct me if I'm wrong on this.

>most people invest in alts with the notion that once the alt rises in price they will cash out in bitcoin and take the profits.

Sure thing, but a couple of months back it was common to cash out to eth too. It'd be difficult to dethrone btc as the go-to reserve currency but people wouldn't be as attached to it as you might think. If anything I'd say it's the opposite: btc whales have been crashing alts on purpose because they know it drives btc prices up.
>Own 100k btc
>buy 1000 btc of coin A
>instantly sell at a 20% loss
>repeat this a couple of times
>small fish empty their bags and return to btc in panic
>btc rises 1%
>break even

I don't agree, user. Bitcoin can crash and burn in a million forks, and it will hurt crypto in the short term, but not in the long term.

Smart contracts are out of the bag. They're not dependant on Bitcoin at all, and are going to be a huge part of automation. They will displace millions of jobs and cause massive increases in profits to big business.

If you're invested in smart contract platforms that are widely adopted, or tokens which, say, provide a decentralised solution to moving data on and off blockchains, you will do very well on the back of this.

Good point- I never considered this being too much of a possibility- what would this mean for the crypto market when the btc bubble pops?

the november hard fork will kill it or it will go to 30k by the end of year then correct back to 13k

Thanks for your view on the situation user- You have a pretty good point but there is so much speculation surrounding not only bitcoin but also so many alts on the market that I do think that if bitcoin crashes and burns the market we currently have will change quite a lot. I have no idea of the impact though and again you do have a pretty good point regarding smart contract platforms and similar tokens.

I have several thoughts on the topic, and what seems plausible.
First, is that crypto as a whole becomes very adopted in everyday business, and it gets to the point where it cant be ignored by anybody. Very real world use cases are made an utilised. And while BTC reamins king in terms of value, it will not be the most widely used.

Second option which I see plausible is a fatal flaw or exploit is found within BTC, espcially earlier during its crucial incubation stage of become a real world currency. Everyone loses their faith and a massive crash happens. This kills the crypto...all of it. One of the most worrying things to me is that BTCs encryption is not out of the realm of being cracked within 10 years or so depending on when quantum computing becomes a thing.

Third is and final thing i can see happening is that crypto and more so BTC continues to swell like a massive balooned ham planet, with caution throw to the wind by its investors. No real world adoption is made, and eventually a bigger correction causes lots and lots of people to pull out all noticing everyone is just blatantly invested to make crazy returns and nothing more, this correction snowballs and everything tanks to oblivion.

bump

The answer isn't a date, time, or price. It is dependent on capital inflows, adoption rate, availability and affordability of Bitcoin. You can measure these in a larger formula to guage while factoring in news or rumors in the pipeline.

What I don't see often enough in answers here is TINA. There is no alternative. Bitcoin and crypto have been fully exposed in 2017's bullrun with all eyes on it from the financial sector. Hedge funds closing down, real estate is sputtering, equities is over crowded and bonds are junk at this point. People are actively searching for investment opportunities.

If the dollar index (DXY) drops and Bitcoin rises to 50K USD in relation is it overpriced?
If hundreds of thousands of retirees buy cold storage devices with 0.1 BTC offline will the price go up?
How will the CME futures market effect the markets?
How many people will lose their BTC wallets, passwords or private keys?

TLDR; No one knows. Central banks could force a sell off tomorrow. Western markets are fucked so take profits and diversify.

Anyone

Option one combined with option three on a crypto level time scale. BTC will remain king through the fiat market corrections/collapse, will be used as a store of value, and not spent often. Over time value as a currency will be over speculated in markets causing it to bloat, tip over and in the crash would be replaced. By this point there would be many viable and trustworthy options.

Option two on vulnerabilities would be less likely than younger cryptos and private source projects. That being said someone could have overlooked a major design flaw that is not brought to light until much later. With regard to quantum computing as the technology further emerges coins could be forked and encrypted using quantum computers or resistent algorithms.

You do know that stock market actually is closing into a bubble?
Crypto is not.
>"Tulip mania!! I read that from the intet nets!! :o"
Bitcoin is not all based on hype. Limited supply and when it is used as a currency like the dollar, it will be millions

a scam perpetrated by Prince al waleed of Saudi Arabia caused BCH to go 2X. Now the Prince has been arrested, and the bagholders who got dumped on are shiiling BCH to dump their bags on someone else, and so on, just like Link. inb4 "muh open letter". Open Letter was fake and what the scam was built on. they even rented 10,000 servers from Amazon to pose as "Miners" to make the scam look legit.

Hear it all day long from the pensioners over at ZH. They are frothing at the mouth screaming tulips as silver futures keep getting dumped endlessly by the Deutsche Bank. If they wanted to argue BTC will be the next South Sea Trading company if Bitfinex is collaborating with Tether printing coins that are not backed by USD well.... at least it would be closer. With the tether audit release the FUD has died down.

My only question is what millions will buy us even a few years out compared to today. The RE prices here have fucked me so hard I want them all to burn.

People will start to realize that the coins are useless and that the only part of crypto that matters is the technology so the entire market will crash except for about 1 or 2 coins

>gold isnt a store of value
famous last words

CME not getting regulatory approval will pop the bubble. CME getting regulatory approval will cause it to moon.

Honestly what can you do with bitcoins? I've asked so many times about cashing out and no one seems to want to tell me how to do it.

You need to research this until you run out of questions. There is too much information to convey in what seems like a simple question.

Anyone can cash out through an exchange that services your fiat pairing or through services such as localbitcoins. Few do because of what Bitcoin is and with the current state of markets.

Coinbase will allow you to do BTC to USD and withdraw. Some retailers accept as payment. Ask yourself what inherent value fiat currency has?

Source on prince's BCH invesment ?

pastebin.com/ZUxTmR99
3. CURRENT CAPITALIZATION OF THE BITCOIN 35,788,210,511 USD
FOR EXAMPLE RUSSIAN BILLIONER ALISHER UZMANOV MAY BUY THE HALF OF ALL BITCOINS
USA MILITARY BUDGET - 611,000,000,000 USD
USA DEBT - 18,984,100,000,000 USD
GOLD IN THE WORLD 31553,2 TONS = 1,278,960,782,690 USD
BITCOIN SIMILAR TO GOLD FOR ACCUMULATION AND SIMILAR TO DOLLAR FOR MONEY TRANSFER
THE ONLY THING THAT PREVENTS THE BITCOIN FROM BECOMING A WORLD CURRENCY IS ITS LOW COST
AT THE PRICE OF 10,000,000 USD FOR 1 BITCOIN IT ALREADY CAN REPLACE DOLLARS

it is the Egyptian pyramid

> Alisher Uzmanov accidently drops his trezor in the indoor swimming pool roller coaster. Shit.

Yeah, however, the return is generated by people buying the coins...which is..sort of Ponzi desu

Value is assigned through group concensus in the same manner truth is deciphered. Bitcoin is exposing the inflation, corruption and manipulation growing from the Western central banks. They thought if the FED, BoJ and CBE increased the monetary supply at the same time no one would notice. Economic history is very powerful.

Ponzi scheme? No, that is Bitconnect. Bubble? This is just the beginning. We will get there one day and the correction won't be fun but not for awhile. If you can't be certain on your position cut out profits as it breaks new ATHs until you have your initial back.

Why do people compare BTC to a Ponzi scheme? Bitcoin doesn't yield you interest and it's not promised to always increase in price. Also, you can't generate Bitcoin out of thin air. If one wallet is lost (owner dies ir something), the price will increase.
The only thing I'm concerned with is that prices are always tied to USD. Even drug dealers and killers adjust their prices to what their services cost in dollars in their area. When BTC will be free of dollar, the prices should be more fixed, so the value of BTC should not go up anymore. But that's my opinion that may be wrong.

It will moon ... not die... this is here to stay.....not to go away .....

Old fud still in the media pipe from the laugh at us stage in adoption. They call it digital tulips and a ponzi scheme all the time. It has been known the financial sector adopts technology very quickly. They are arrogant in understanding the security, scope and reliability of these decentralized networks. Plus the media shills for the largest bag holders of USD on the planet.

There will likely always be fiat pairings unless hyperinflation took hold and exchanges stopped servicing one or multiple currencies. This is realistic as many global exchanges have cut off USD deposits due to regulation.

1. The market for BTC must grow until the price is relatively stable. High volatility is no good in a currency.
2. Exchanges (centralized or decentralized) to offer commodity pairings against Bitcoin so the market could establish fair value. (e.g. oil, wheat, gold, etc.) This would also help people develop relational value of BTC to common goods. The other idea would be commodity backed cryptos that trade keeping it separated.

Anyways a few ideas to play with. I wouldn't want to use BTC as a common everyday currency but as a store of value.

>Tulip mania!! I read that from the intet nets!! :o"
???? can we have the evidence to this?

#rubbish their use has already started .... this is a growing trend it is the future...
cash will disappear and mobile devices will actively act as your digi-cash dispenser / digital petty cash ? as they are faster and more efficient....
Take Sweden all transactions carried out through Credit/debitcards.... this will eventual evolve into cards disappearing ! wait and see.....

Even better wait till the Chinese relax the rules and make a come back!!!

Don't tease. 2018 is going to be a wild ride.

He keep it in safe

u gonna get rekt kid
people around here have scripts to smash out the **q** remainder of your private key

21 tril

Gold is undervalued, silver even more.
In the 1980's gold/silver was overvalued and you could buy a median house for 250 ounce of silver. Today I can buy a median house for 11000 ounce of silver.
>It is worth asking whether the price of silver stacks up as fair. For more than 2,000 years, somewhere between 1/10th and 1/15th of an ounce of silver bought a day’s labor; in today’s terms, that would suggest that silver should trade for $264, if U.S. wages are the global standard. By way of comparison, minimum wages in China’s Guangdong province (an area with extensive manufacturing activity) would work out to $6/day on average, or about 5.6 g of silver – about half the wages in 4th century Greece. It really is a case of what is considered to be the representative global wage [see also Doomsday Special: 7 Hard Assets You Can Hold In Your Hand].
(c) commodityhq.com/education/a-brief-2000-year-history-of-silver-prices/

Nicely put, bro. Agree with all of it. I said it resembles the scheme. We can argue that neither gold or art or classic cars do generate profit.
I went in late and I am about +25% of initial investment. I will hodl for the fork, but expect either FUD or Wall St correction after.

what private key starts with S?

>Ask yourself what inherent value fiat currency has?
There's metal in the coins, while bitcoin is truly imaginary. Bitcoin is more akin to a video game, might as well buy wow gold.

Also legal tender laws. All debts can be settled through the local currency. I do not have to accept your shitcoins.

Yeah at 1 trillion it will pop and go back to $600-700bln and then it will pop again around 10trillion and drop to 6-7trillion.

Gold can at least be used to make jewelry and electronics. It also can sit idle without corroding unlike bitcoin that needs cheap Chinese electricity (subsidized by communist government) to even keep existing.
Bitcoin will pop as soon as the recent waves of normie investors start selling to make some cash. The value will start sinking, selling will get even worse, and the slow shitty infrastructure will make everyone panic. The only thing that can save it is actual use of the god damn coin for actual buying of goods. Right now it is used only for speculation and buying drugs.

Thinking it won't go down atleast 30% is deluded. But when that is happening is the big question. If it happens at 12k, now is still a good time to buy.

Why wouldn't we have a bear market for Bitcoin after the fork?

I just hope my alts pump

Everyone here keeps talking about being late to the game.. maybe for those x1000 moon mission/hot ICOs we used to have. Only see the initial framework being laid out. Coinbase is fully normie friendly and the hardware wallets are easy to use. It is difficult to have a wide audience participate in crypto with the current wallet address system commonly used. I have been buying/operating nodes to provide network infrastructure long term. The future is bright, this is still early but the early stage is ending.

Why wouldn't it go sideways or up? Question is the speed at it does so.

The last few days we saw some early exists before the fork and other jumping temporarily on the dip to buy up the low alt positions. They look clear for takeoff my friend.

tether

2000 years ago 20oz of gold would buy you a really nice horse. Today, 20oz of gold will buy you a BMW. Really made me think.

Gonna live in that BMW, no problem.

You don't live in a car, silly.

yeah this "crypto bubble" nay sayers are like those old folks from early XX century saying that this automobile fashion will end soon because automobiles are unrealiable not like good old fashioned horses and trains.

gold obviously has been a good store of value for thousands of years

I think that was a joke.

>1 trillion market cap
That will only justify its existence
The block size will have to increase by then though