I'm sure you've seen this.

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RadAudit
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Joined: Mon May 26, 2008 10:20 am
Location: Second star on the right and straight on 'til morning

I'm sure you've seen this.

Post by RadAudit »

Looks as if we're in uncharted waters with Bitcoin. This guy says it is the biggest bubble ever.

http://www.zerohedge.com/news/2017-12-1 ... ld-history

So it might be interesting to watch to see what, when and if something happens from here.
FI is the best revenge. LBYM. Invest the rest. Stay the course. Die anyway. - PS: The cavalry isn't coming, kids. You are on your own.
Grt2bOutdoors
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Location: New York

Re: I'm sure you've seen this.

Post by Grt2bOutdoors »

They are calling it a bubble, yet, the Japanese I hear have accepted it as a means of payment.
The SEC regulated exchanges, Chicago Board of Exchange is offering or wants to offer a means of trading futures or "bets" on the direction of something with zero intrinsic value. And the meanwhile, the regulators idly stand by and watch this game of musical chairs continue. When the music stops, alot of folks are going to be hurt because a mania that should have never been allowed in the first instance continues "unchecked". Society albeit a small subsection of it has run amuck.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Broken Man 1999
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Re: I'm sure you've seen this.

Post by Broken Man 1999 »

Just read the linked article in Bloomberg Businessweek about the "whales" who have tremendous $$$$ in the various cyber coins.

With ease they can move the market in large trades.

https://www.bloomberg.com/news/articles ... the-market

When so few can move the market so much, someone is going to be looking in vain for their chair when the music stops. I predict the minnows of the world will not fare well in this investment.

What concerns me is if inroads are made concerning acceptance, how long until the taxpayers face another bailout for holders who get burned, including banks?

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go." - Mark Twain
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midareff
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Joined: Mon Nov 29, 2010 9:43 am
Location: Biscayne Bay, South Florida

Re: I'm sure you've seen this.

Post by midareff »

...... is this a big enough bubble to initiate a full scale stock market reversion to the mean when the bubble does what all bubbles do? ... with all the associated waves washing over the housing and jobs markets like they did in the last two (1999-2000 and 2007-2008) ? Even if you are OK and well protected it still feels horrible grinding down, down and further down.
renue74
Posts: 1893
Joined: Tue Apr 07, 2015 7:24 pm

Re: I'm sure you've seen this.

Post by renue74 »

I've dabbled for over a year...with only a few hundred dollars invested. Made 3x or 4x more than initial investment.

I really never paid it any attention other than buying bitcoin in my coinbase account and was actually going to use it for amazon purchases, but forgot about it.

My kids have asked about it and now my employees are investing in it...I just found out this week.

I starting paying more attention this past weekend. The numbers traded from the low $15K per bitcoin to $17,500. The swings are major.

I know how I could actually spend my bitcoin. Through purse.io or other online services I can buy amazon items.

But the funny thing is that I asked one of my employees yesterday...."how do you use bitcoin to buy something?" The answer..."I don't know." We're a web design firm. We're on the internet 95% of our time and should know this.

That's a red flag for me.
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