Good luck to you, but I don't believe that. Get out now at $16K.
Charles Ponzi. Dutch tulip bulbs.
Mark this post. Check back in March.
Rub my nose in it if I am wrong.
Bitcoin $781.41
- Thread starter MadJack
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Good luck to you, but I don't believe that. Get out now at $16K.
Charles Ponzi. Dutch tulip bulbs.
Mark this post. Check back in March.
Rub my nose in it if I am wrong.
If youre a long term hold at 250, why sell? BTC will make 6 trillion market cap because it global.
Naval Ravikant
?Tulips are not durable, not scarce, not programmable, not fungible, not verifiable, not divisible, and hard to transfer. But tell me more about your analogy...?
:lol:
?Tulips are not durable, not scarce, not programmable, not fungible, not verifiable, not divisible, and hard to transfer. But tell me more about your analogy...?
:lol:
Tulips die. That was a very short term fad that no longer fits tokenization.
Okay. Back in the day top quality tulip bulbs were perhaps ten cents each, the cost of producing the best quality ones. So the intrinsic value was ten cents.
There then ensued a buying panic as one buyer after another saw rapidly increasing prices, and wanted to get in in order to ride the price panic up. The price eventually went to several thousand dollars each. Obviously some folks made a profit by buying at, say $2 and selling at $20 and others in at $50 and out at $500. Demand outran supply and the price rose, until, eventually there were more sellers than buyers and the price collapsed back to ten cents. Some made profits and some got badly burned.
What's the intrinsic value of Bitcoin? They originally sold for $1. Buyers have pushed the price to astronomic levels, but one day sellers will outnumber buyers, because there will not be enough money available to buy all that are on offer. The downsell panic will be even faster than the upsell panic. You may not be able to get out because the sell orders will overwhelm the buy orders.
It's not like crude oil which has marginal cost of production of perhaps $40/bbl. Crude prices sometimes panic up to, say $100, but always fall back to intrinsic value. So speculation on oil is dangerous, but not at anything like the danger in Bitcoin. If you buy crude at $100, you might lose half. If you have $15K in bitcoin now, that could become a few dollars in one massive panic selloff. There is no intrinsic value to stop the crash.
You might also look at the silver frenzy of 1980. The intrinsic value ie the cost of production was around $3
Okay. Back in the day top quality tulip bulbs were perhaps ten cents each, the cost of producing the best quality ones. So the intrinsic value was ten cents.
There then ensued a buying panic as one buyer after another saw rapidly increasing prices, and wanted to get in in order to ride the price panic up. The price eventually went to several thousand dollars each. Obviously some folks made a profit by buying at, say $2 and selling at $20 and others in at $50 and out at $500. Demand outran supply and the price rose, until, eventually there were more sellers than buyers and the price collapsed back to ten cents. Some made profits and some got badly burned.
What's the intrinsic value of Bitcoin? They originally sold for $1. Buyers have pushed the price to astronomic levels, but one day sellers will outnumber buyers, because there will not be enough money available to buy all that are on offer. The downsell panic will be even faster than the upsell panic. You may not be able to get out because the sell orders will overwhelm the buy orders.
It's not like crude oil which has marginal cost of production of perhaps $40/bbl. Crude prices sometimes panic up to, say $100, but always fall back to intrinsic value. So speculation on oil is dangerous, but not at anything like the danger in Bitcoin. If you buy crude at $100, you might lose half. If you have $15K in bitcoin now, that could become a few dollars in one massive panic selloff. There is no intrinsic value to stop the crash.
You might also look at the silver frenzy of 1980. The intrinsic value ie the cost of production was around $3
Thanks - the point was that tulips are not durable, not scarce, not programmable, not fungible, not verifiable, not divisible, and hard to transfer. Silver isn?t programmable, divisible and hard to transfer. There?s a big wall of money looking to buy with a small amount of hodlers willing to sell.
Come back in three months like you said , but try and inform yourself before then. It?ll make it more interesting.
Oh - and starting tomorrow you can start shorting if you want to monetize your beliefs.
Wrong, BBC.
Silver is divisible. You can buy it and take possesion in any quantity from 1/10 oz to troy tons. $10 worth, $10,000,000 worth - just a mouse click.
And it's instantly bought and sold, both for immediate delivery and in the futures market on the mercantile exchanges. You can buy and hold for one second or for ten years, and sell instantly anytime you like. You don't have to ever take actual possession. Just like gold, oil, platinum and corn futures. You can even buy on margin, which you cannot do with Bitcoin.
And you can use any of hundreds of trading programs.
And silver always has a base price below which it will never fall - the cost of production.
Wrong duff. Then you have a iou for silver, corn or oil. A piece of paper maybe. A promise. And values go below cost of production all the time. And it will for both gold and silver in the coming years.
These conversations seem very 2014ish. You have to try and stay current.
Not so much lately. Recycling and urban mining are taking place of traditional mining.
1 ton of computer/cell phone waste has around 250g of gold and 10 x of silver. And many other precious metals that are hard to find and mine. When techniques of recycling/separating metals improve those metals start losing their value (cost of production falls). And when you have all this metals available price of one certain metal doesn't matter (for seller) as long as you can sell all metals you recycle = whole production is for sale for highest bidder. Metals are not like oil that you keep in tankers outside US and wait oil price to go up.
http://www.bbc.com/future/story/20161017-your-old-phone-is-full-of-precious-metals
that article is about phones only, but you get the idea :0008
Okay. Back in the day top quality tulip bulbs were perhaps ten cents each, the cost of producing the best quality ones. So the intrinsic value was ten cents.
There then ensued a buying panic as one buyer after another saw rapidly increasing prices, and wanted to get in in order to ride the price panic up. The price eventually went to several thousand dollars each. Obviously some folks made a profit by buying at, say $2 and selling at $20 and others in at $50 and out at $500. Demand outran supply and the price rose, until, eventually there were more sellers than buyers and the price collapsed back to ten cents. Some made profits and some got badly burned.
What's the intrinsic value of Bitcoin? They originally sold for $1. Buyers have pushed the price to astronomic levels, but one day sellers will outnumber buyers, because there will not be enough money available to buy all that are on offer. The downsell panic will be even faster than the upsell panic. You may not be able to get out because the sell orders will overwhelm the buy orders.
It's not like crude oil which has marginal cost of production of perhaps $40/bbl. Crude prices sometimes panic up to, say $100, but always fall back to intrinsic value. So speculation on oil is dangerous, but not at anything like the danger in Bitcoin. If you buy crude at $100, you might lose half. If you have $15K in bitcoin now, that could become a few dollars in one massive panic selloff. There is no intrinsic value to stop the crash.
You might also look at the silver frenzy of 1980. The intrinsic value ie the cost of production was around $3
Whether bitcoin goes up or down has nothing to do with tulips which is a fake and incredibly lazy argument - and it was all Bullshit-
Read below:
http://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/
How speculation works -
Those who cannot learn from history are doomed to repeat it. - George Santayana.
Those who cannot learn from history are doomed to repeat it. - George Santayana.
How speculation works -
Those who cannot learn from history are doomed to repeat it. - George Santayana.
For conventional assets yes. We?re in new territory here. You can act all condescending and hard ass as much as you want. The reality is the hating has gone on for years. No one is saying any of this is without risk but if it fails it won?t fail for any of the reasons you are describing.
If you actually take a look to the history you could understand that this is learning from the history.
Right here front of your eyes.
:0008
