Your right the info I had may be outdated with how fast the MC grew, nevertheless there is still vast room for growth even at this point.

Bitcoin will never fail. Its a wild fire that will only spread. There will never be a "run on bitcoin" so the price will never fall to zero. As soon as prices drop and people sell, money comes right back in because its cheaper and the prices go back up. It cant be stopped. It will force the world to adapt to its presence. In <10 years we will see the day 1btc costs more than 1 Berkshire Hathaway share. It will have the highest market cap of any entity ever known to man. In 2017 paintings sell for 450 million dollars, a painting with no value. Btc is a product/service that will never be sub 4 figures again. Too many people believe in the product to let it fall that low. This is not a tulip, this is not a beanie baby, this is a store of value. More and more people will opt to do things in btc and avoid fiat and the taxes that come with them.

Racist!

Algeria is not that small of a country. Some of the best french football players are algerian by birth (Zidane). Wouldnt dismiss it like that like its a small jungle tribe and btc mist obviously be worth more...

Eventually it will be, but its still a long way. Always be prepared for a 2yr bear market in case 2nd layers take too long. When btc went to 1k, nobody expected it either.

Obv pls dont time the top. Even at 10k its cheap.

The current market is completely insane. I don't think anyone can really argue otherwise.

Bitcoin Diamond is being traded as the 4th biggest coin right now. It has no source code, no wallets, no community, nothing.

However, the market being insane doesn't necessarily mean that BTC or other legitimate projects are due for a correction.

Here's a cool site someone made to compare to current market cap vs the combined value of the currency of every nation:

http://lopp.net/m1/rank.html

Confirmed Algerian dinar is smaller than Bitcoin, Algeria at #41, Bitcoin at the time of this post at #26

I love the very casual “even though bitcoin has no actual utility right now, just wait until hypothetical event X Y Z happens... bitcoin moon”

You guys are in church lady true believer territory.

Bitter bitcoin posts are the best

I have been trying my hardest to wrap my mind around bitcoin euphoria and just can't. Over the weekend I watched a documentary on Netflix called Banking on Bitcoin and it did nothing to help me see why bitcoin is the future. Bitcoin is currently useless as a currency because it has zero stability.

Watching the news this morning I see it is up again big. This thing currently has every characteristic of a huge bubble. It seems we are in the euphoria stage. This stage can last a while. But bitcoin will be useless until it trades sideways for an extended period. But the whole concept seems suspect to me. Where will technology take us in the next decade that will make current bitcoin technology very suspect? I am not sure the elimination of a trusted 3rd party is a good thing. Call me old fashioned.

You understand from reading those two paragraphs the majority of us can tell you know nothing about the tech/future/industry? You're literally giving the exact same hot take of everyone that has seen a CNBC segment on it. Keep reading.

Bitcoin isn't useless as a currency. Bitcoin also isn't really a currency. This "thing" currently has very few characteristics of a huge bubble. You're asserting out of ignorance. Have fun learning.

Put some thoughts on flaws of bitcoin specifically and how a private blockchain would work:

Public and private blockchains

lol wtf, I mean, I know "fiat banksters" but still, is it not troubling to you that it seems like every central bank chief, banking CEOs, large corporation CEO, hedge fund managers, economic professors, authority on money thinks that while block-chain is interesting tech, that bitcoin is complete bull****?

Nothing will ever be priced in bitcoin.

Besides the fact that the price is skyrocketing due to new investors that are only interested in selling at a higher price at a later date... and the whole lack of intrinsic value... I mean, people in here are literally acknowledging that bitcoin is potentially the greatest investment ever... despite that nobody is ****ing using it as anything other than an investment.

^ Yep, those are some words you wrote there. Complete nonsense, but words nonetheless.

I like when people say bitcoin has little utility. Keeping you’re money safe from deflation and out of government reach seems like a pretty strong utility to me.

Ever had your entire industry shut down because lobbyists in Washington don’t approve? Bitcoin is the answer to this.

Ever had your bank account closed, seized, or frozen?

No, oddly enough.

is it ok to withdraw from a poker site straight to Mycelium?

I mean, c'mon. Bitcoin may well end up not being a bubble but you have to admit that the way people talk about it is exactly the way people talk about bubbles.

Nothing ever gets priced in gold or silver either.

Help me out here. Was this meant to be ironic?

Believing that bitcoin will keep the government out of your pocket has to be the most naive belief about bitcoin.

yes.

Can you explain how bitcoin achieves the bolded

Can someone explain why bitcoin is priced so high? Almost everyone I know is using it as a 'get rich' scheme (HODL) rather than using it as digital currency to buy what they want.

Regulated futures trading is coming soon, thus the assumption that big institutional money will pour in