Did the Bitcoin Bubble Burst?

Discussion in 'General Advice' started by payment proof, Apr 14, 2013.


Do you have any Bitcoin?

  1. Yes

    1 vote(s)
  2. No

    2 vote(s)
  1. payment proof

    payment proof Well-Known Member


    YAGOOFT Active Member

    Good question, but in my opinion, no, it is like any other financial commodity, corrections happen on a regular basis, just as we saw yesterday with collapse of gold and stock market, markets get overheated, and that is exactly what we saw with bitcoin. I am still way up over what I paid, and I look long term, so I picked up more while the price is low. Buy low, sell high, same advice in all investments.

    Good luck to all,
  3. payment proof

    payment proof Well-Known Member

    But is bitcoin really a true financial commodity? Does it have any tangible value like gold or like the value/capital of the company backing a stock?
    MarieA73 likes this.

    YAGOOFT Active Member

    Supply and demand rule, so although not a commodity in the same sense as gold or silver, as example, it still falls into the same category as I see it, but not being backed by anything other than faith is a bit more risky. We saw the wild swings, but we also saw gold and silver get hammered over last few months, and stock market is about to take another hit as I see it, so investors are looking for other investments like Bitcoin, so time will tell.

    The real reason Bitcoin even exists is because more people are learning that the almighty dollars strength is doomed due to huge deficits which will never be eliminated, so the dollar is doomed in many peoples eyes, as are the Euros which drive smart investors out of currency markets.

    Good luck to all,
    MarieA73 likes this.
  5. MarieA73

    MarieA73 Member

    Bitcoin is simply another, albeit privately operated, fiat currency. It has no intrinsic value at all so it is subject to wild swings as it becomes universally loved or universally hated.
  6. MarieA73

    MarieA73 Member

    I just looked and the 30 day range of trading goes from $50 to $260....craziness. Lots of people losing their shirts or pocketing big bucks.
  7. reymarkperry

    reymarkperry New Member

    One of the reasons why some people don’t believe in bitcoin is that they think it’s a risky currency. It may come with risks, but has proven itself that it can be alternative money in the future. After all, it is more than just money.
    payment proof likes this.
  8. Adrian

    Adrian Member

    Bitcoin is still in it's early stages.We will really need to keep an eye on this one.

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