Buy bitcoin cash.

+1

Was going to take the thread seriously until OP said he thinks all cryptos will fail.

RIP BTC
https://99bitcoins.com/bitcoinobituaries/

It won't die, it is just overvalued.

By what measure?

short it on bitmex like a boss

anybody here using cryptos to buy a signicant portion of their daily goods and services? or know anybody?
it's hard to estimate that number, so does anybody have any good articles about companies who offer crypto-payment? what % of their customers use it?
how big is the illegal trade (drugs, gambling) for cryptos?
if anybody has reliable information on those topics please share.

Stop listong price in USD? We'll gonna have a world war 3 faster than we thought

If the trade in crypto continues , just read what happened to gold dinar , go figure

The only way it isn't overvalued is if it will replace fiat currency, or if people will indefinitely hoard it. Not exactly great odds you get there at current price. People are barely using it for legitimate purposes after 8 years of existence (just ask some businesses who accept it). So then the hope is that speculators decide to hoard it and not sell it. Basically making it a ponzi.

And if the value comes from hoarding it, then bitcoin doesn't have much of a competitive advantage.

And looking at gold, if that wasn't used for jewelry and electronics, and central banks decided they no longer wanted to hold it for currency manipulation purposes, it's value would plunge. Since that is like 95% of it's use.

I mean sure it might go to $10k when another batch of $15 billion in dumb money decides they want to buy it in very short notice at any price as an alternative investment, and you can rub it in my face, but long term I don't really like the odds.

It's still only ~1% of the market cap of gold. And ~2% of the value of M1 USD. The expectation of it replacing either is certainly not already baked into the price.

8 years is NOTHING. How many people were using credit cards in the 60s? How many people were using the internet in 1991?

Give it time. Blockchain technology is a major breakthrough that will change the world. But it doesn't happen overnight.

This attitude is exactly why I would love to buy long term puts on bitcoin. It might take a few years before this bubble bursts though.

your credit card and internet comparison doesn't really fly btw. Credit card adoption was hurt by non acceptance in a lot of places. Bitcoin is accepted almost everywhere. And the moment credit cards became widely accepted by a lot of vendors, adoption started rapidly growing.

According to this source, after about a decade, acceptance was already almost 20%, and that was before the internet!

And your internet example, the internet became a thing in the early 90's, and here is what adoption looked like:


Within like 7-8 years there was already a 30% adoption rate. With very little content. Adoption rate for bitcoin is probably <1% currently.

And as far as gold, cryptocurrencies aren't unique. Why would people specifically haord bitcoin, and not any of the other infinite number of crypto's?

The internet was invented way before 1990.

You cant compare an apple to an orange, internet is everyday use but bitcoints?

This thread just reeks of salt from someone who missed the boat and is upset about his measly returns in traditional markets.

401k plans are now offering bitcoin, Litecoin, ethereum as part of the investment option available. Car manufacturers take bitcoin. Ukraine will start accepting bitcoin for home purchases soon. It's being adopted and will continue to be.

LOL

Well you'll be able to take puts out in a couple to a few months. And what you need to realize, is this isn't a ****ing crypto bubble, it's the fiat bubble starting to burst. Fiat can be counterfeited and printed at will. Not cryptos. Get that through your head and then short like a boss. A broke boss.

It seems to be either a giant liquidity trap, or gaining ground on world-wide currencies (or a mixture of the two). So, I'd try to price it by looking at the currency market, and put a percentage on what portions digital currencies will have against FOREX in the future. It's certainly worth something in Venezuela, for example.

whether intentional or not, investing against bitcoin outside of bitcoin only further strengthened my personal views about how ****ing ******ed that is. in the public sector, the things you'd have to invest in (government bonds, finance) have to be what i think to be some of the worst choices in existence in that space.

Pokerstars,888poker,ft party will start accepting bitcoin not to mention wsop, etp

Tell me where I'm wrong? You're salty AF it's pretty pathetic

+1

Even optically negative news isn't making a big difference in trading price at this point. BTC rebounded pretty well on what would normally be considered not great news overall coming out of the China banning ICOs yesterday. Other than the selloff caused by Mt Gox style news, it's proven to be pretty buoyant.

This post is playing face up that you are a young guy that hasn't seen **** in financial markets and all puffed up that you randomly picked a 10 bagger.

This thread is bad because you can't just short a bubble because you think prices are high.
That is the oldest mistake in the book.

Wrong (not young in this sites demographic, wrong (not worth my time), oh look wrong again. Good try tho. Better luck next time

yes but available to public, like bitcoin is accepted in most places since 2013.