Bitcoins - about to hit $5,000 per coin today!

[Mr Anabolic]

How many Bitcoin brand names are there going to be? A dilution of the brand not good considering there are 100 other cryptos.

BTC is limited to 21 million coins....okay great that is a deflationary value and one of the hallmarks of the platform...but now we have Bitcoin Cash, Bitcoin Gold, etc ... see the problem here? Dilution of brand. There are not going to be hundreds of alt coins taken everywhere and many will end up ripoffs. This is where the govt/bank issued coin will swoop in. One coin for all, and the people will love it.

Bits are called coins and are the color of gold... gee I wonder why? 

The only real "coin" you'll ever need...

[Griffith]

How many Bitcoin brand names are there going to be? A dilution of the brand not good considering there are 100 other cryptos.

BTC is limited to 21 million coins....okay great that is a deflationary value and one of the hallmarks of the platform...but now we have Bitcoin Cash, Bitcoin Gold, etc ... see the problem here? Dilution of brand. There are not going to be hundreds of alt coins taken everywhere and many will end up ripoffs. This is where the govt/bank issued coin will swoop in. One coin for all, and the people will love it.

I was thinking this too, Bitcoin amounts may be limited but how many 'forks' and different types and alternatives are we going to see?

[Griffith]

So what is the expert opinion here...?

[polychronopolous]

https://www.cryptocoinsnews.com/a-real-bubble-warren-buffett-not-impressed-by-bitcoin-price-surge-or-icos/

A ‘Real Bubble’: Warren Buffett Not Impressed by Bitcoin Price Surge




As reported in MarketWatch, the Berkshire Hathaway CEO — known as the “Oracle of Omaha” — made these comments earlier this month during an “Ask Me Anything”-style question-and-answer session with business students. At least one student asked Buffett about cryptocurrency, and — unsurprisingly — he replied that he is not enthused about bitcoin or other digital currencies.

“You can’t value bitcoin because it’s not a value-producing asset,” he warned, casting shade on strategists and hedge fund managers who believe Metcalfe’s law — a principle that states the value of a network is proportional to the square of the number of its user base — provides an effective metric for deciphering bitcoin’s value.

There’s a “real bubble in that sort of thing,” he added, echoing comments made by UBS earlier this month.

[Notomorrow]

Warren Buffets strategy for wealth is to live to 100 years old with moderate, stable investments that grow over 50-60 fucking years so when you're rich you're too old to fuck the young bitches you got rich for.

[gib]

Its true Buffet only invests in investments he understands and can value. And indeed this is why he did not invest in either google nor Facebook nor Amazon. He himself admits and states that all he need to do is invest in what is does understand. But this does not mean that anything he does not invest in is inherently a bad investment.

Oh and for the record bit coin hit another record high today now 6400 USD! Still super cheap. Could one day go above 100k once hedge funds and banks buy in.

[IRON CROSS]

Imaginary money ...........

Lets create Marsian currency too............

[gib]

Imaginary money ...........

Lets create Marsian currency too............

You do realise that USD is infinitely more "imaginary" right? As infinite amounts of notes can be printed to dilute value and effectively steal from you right? As opposed to bitcoins which are decentralised and finite with mathematical certainty?

[SOMEPARTS]

Only on Getbig can some crypto nuts make fun of one of the richest guys in the world - famous for his methods. He became that way by investing in real things BTW. He's not my favorite either but you guys are blinded by gains plain and simple.

[gib]

Only on Getbig can some crypto nuts make fun of one of the richest guys in the world - famous for his methods. He became that way by investing in real things BTW. He's not my favorite either but you guys are blinded by gains plain and simple.

Its true Buffet only invests in investments he understands and can value. And indeed this is why he did not invest in either google nor Facebook nor Amazon. He himself admits and states that all he need to do is invest in what is does understand. But this does not mean that anything he does not invest in is inherently a bad investment.

Oh and for the record bit coin hit another record high today now 6500 USD! Still super cheap. Will go above 100k once hedge funds and banks buy in.

[gib]

Ps those getbiggers not yet ready to buy Bitcoins with the big boys, there's always Bitcoin Cash - currrently trading at around USD 500 per coin.

[Mr Anabolic]

Only on Getbig can some crypto nuts make fun of one of the richest guys in the world - famous for his methods. He became that way by investing in real things BTW. He's not my favorite either but you guys are blinded by gains plain and simple.

Absolutely.  Also, the nonstop bragging about how it will keep going up unabated is totally ignorant and arrogant.  Lets see what happens when some whale decides to unload a bunch.  A huge stock market downturn will be a real test.

Banks and hedgies are already buying it, this is why it's going parabolic, not because of mom and pop buyers.  Jamie Dimon (of JP Morgan) publicly dissed bitcoin so it would go down... which it did... then his European branch of JPM bought it.  This is a fact.

[gib]

Absolutely.  Also, the nonstop bragging about how it will keep going up unabated is totally ignorant and arrogant.  Lets see what happens when some whale decides to unload a bunch.  A huge stock market downturn will be a real test.

Banks and hedgies are already buying it, this is why it's going parabolic, not because of mom and pop buyers.  Jamie Dimon (of JP Morgan) publicly dissed bitcoin so it would go down... which it did... then his European branch of JPM bought it.  This is a fact.

Hmm. Those who are buying are blinded by gains? Or those who are too scared to buy in are the ones who are blinded by the gains?

We are far far far from any mainstream money yet coming in other than in nominal and negligible amounts. When the banks realise how much huge money there is to be made, then we could eventually see prices ramp up to the 100k mark, and then it will be the mainstream public who start to buy in more. 

[gib]

This may help...

[gib]

Getbig is documenting history in the making.

How many will look back at this thread in 3-5 years and wonder "if only...".

Every person who has the means should buy just one coin of even just as a hedge to what may happen in the future ...

[Mr Anabolic]

Hmm. Those who are buying are blinded by gains? Or those who are too scared to buy in are the ones who are blinded by the gains?

We are far far far from any mainstream money yet coming in other than in nominal and negligible amounts. When the banks realise how much huge money there is to be made, then we will see prices ramp up to the 100k mark, and then it will be the mainstream public who start to buy in. 

I enjoy intelligent conversations and debating with you, but you are getting a bit ridiculous with comments like these. 

Regardless of the what the government espouses, the economy and unemployment in the US and most other countries is horrible.  Mom & Pop (i.e. Main St) barely have enough money to pay their bills, let alone buy 1/10 of a bitcoin.  The majority have less than $400 in the bank for emergencies and most are living paycheck to paycheck.

You need to come down off your bitcoin cloud and get in touch with reality.   

[Mr Anabolic]

Getbig is documenting history in the making.

How many will look back at this thread in 3 years and wonder "if only...".

Every person who has the means should buy just one coin of even just as a hedge to what may happen in the future ...

But most don't have the means.  If they go to 100K as you think, one coin is not going to help much.  You'll need to change your bitcoins for dollars at some point... what will a dollar be worth in 3 years?... in 10 years?

Bitcoin is a gigantic bubble.  At some point it will pop.  When it pops it'll create lots of pain for everyone who is buying at current levels.     

[gib]

But most don't have the means.  If they go to 100K as you think, one coin is not going to help much.  You'll need to change your bitcoins for dollars at some point... what will a dollar be worth in 3 years?... in 10 years?

Bitcoin is a gigantic bubble.  At some point it will pop.  When it pops it'll create lots of pain for everyone who is buying at current levels.     

Only 21 million coins will ever be mined. The world has millions of millionaires already, most who have zero Bitcoin in their portfolio. No matter how much money is printed, the total number of bit coins is fixed. And longer term bitcoins won't necessarily be "exchanged for cash". Rather they will be exchanged for goods and services, instantly at the click of a phone, and with zero ability to trace or tax.

I can't wait to revisit this thread in the future...

 

[SOMEPARTS]

Only 21 million coins will ever be mined. until the majority holders or a hack or a govt decide to change that

The world has millions of millionaires already, most who have zero Bitcoin in their portfolio for a reason. No matter how much money is printed, the total number of bit coins is fixed. see above

And longer term bitcoins won't necessarily be "exchanged for cash". Rather they will be exchanged for goods and services if the market accepts it and if banks govts allow it, instantly at the click of a phone, and with zero ability to trace or tax. how? blockchain ledger is transparently trackable by all correct, a strength correct?



 

[SOMEPARTS]

Getbig is documenting history in the making.

How many will look back at this thread in 3 years and wonder "if only...".

Every person who has the means should buy just one coin of even just as a hedge to what may happen in the future ...

Go to Coinbase and try and buy a coin right now. They require just as much info as a bank to open an account and more. So much for anonymous, untraceable, etc.

Buddy of mine had about 10 coins last year but they limited his ability to buy them and it scared him off because he saw it as a fatal flaw at the time. Why would they do that?

[SOMEPARTS]

We are far far far from any mainstream money yet coming in other than in nominal and negligible amounts. When the banks realise how much huge money there is to be made, then we will see prices ramp up to the 100k mark, and then it will be the mainstream public who start to buy in. 

Every ponzi requires new money to keep flowing in to work. What you would call excitement I would call irrational exuberance and that is what makes me nervous. Only if there is a benefit to the banks would they displace the current dollar system for crypto. If that means they have a jubilee and wash away dollar debt that would be one scenario. But as for blockchain saving the world and being the people's money....ask yourself when have the people won over the banks ever....ever....ever?

[Mr Anabolic]

Only 21 million coins will ever be mined. The world has millions of millionaires already, most who have zero Bitcoin in their portfolio. No matter how much money is printed, the total number of bit coins is fixed. And longer term bitcoins won't necessarily be "exchanged for cash". Rather they will be exchanged for goods and services, instantly at the click of a phone, and with zero ability to trace or tax.

I can't wait to revisit this thread in the future...

Yeah, gotta keep the Ponzi scheme rolling.   

Like I've mentioned before, bitcoin could be a beta test for an all digital currency.  Not one government hasn't banned it, when they could very easily do.  But I as guess as long as you are making money, it's all good right        

[HTexan]

Yeah, gotta keep the Ponzi scheme rolling.   

Like I've mentioned before, bitcoin could be a beta test for an all digital currency.  Not one government hasn't banned it, when they could very easily do.  But I as guess as long as you are making money, it's all good right        

If bitcoin succeeds, ether will replace it

[gib]

Go to Coinbase and try and buy a coin right now. They require just as much info as a bank to open an account and more. So much for anonymous, untraceable, etc.

Buddy of mine had about 10 coins last year but they limited his ability to buy them and it scared him off because he saw it as a fatal flaw at the time. Why would they do that?

I think you are confusing concepts. Coinbase is an exchange. And yes in some countries exchanges are regulated. But individuals can transfer funds directly annonousmly. No one needs to know, either about the transfer, nor how much you hold.

Banks also have "fatal" flaws in that they are also required to obtain customer info. Again the whole point of Bitcoin is that it is truely scarce and truely decentralised.

[gib]

If bitcoin succeeds, ether will replace it

Well if that happened then it wouldn't be correct to say that Bitcoin has succeeded would it?

Its possible both or numerous crypto could "succeed". And who knows if that will be Bitcoin or not. My view is we will see many many crypto emerge and a few will "succeed big time" as established currencies. And the big daddy of them all is and will be Bitcoin. Time will tell!