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Bitcoin

it's hit $14,000 now.... can it hit $20,000? i think if it hits $20,000 without a hitch then we will be looking at possibly $50,000 by the end of next year.
 
I was only kidding; I've seen a lot of bubbles. But is 'it different this time'?
I don't know. This is at a global level. As long as the demand is higher than the supply the price is going to go up and it seems it's going at a breakneck pace.
 
It will easily top $100K....perhaps there will be series of crashes before we get there. 2 trillion fiat currencies are floating around and bitcoin is just 300b so enough room for expansion.

Fiat currencies are the biggest ponzi scheme going around...Negative interest rates, chronic printing, market manipulation to maintain asset inflation...unless you are a savvy investor holding fiat currency is a dead end...you are just priced out of everything.

If a useless metal like gold can be a store of value. Bitcoin is 10x better since it has the utility of wealth transfer much faster than gold.

Satoshi wrote the code but Bernanke deserves the prize for large scale adoption..

I don't know. This is at a global level. As long as the demand is higher than the supply the price is going to go up and it seems it's going at a breakneck pace.
 
The most sensible argument about bitcoin I have read about is that governments are not going to allow their grip on money to be taken away from them that easily. Bitcoin will go up some more until everybody and their cousins are long, then the government will step in and ..
 
Jim Kunstler's take on bitcoin:

Enter the joker in the deck: Bitcoin. Though it pulled back a couple of thou overnight, this strange investment vehicle blasted through $18,000-per-Bitcoin in the past 24 hours, roughly tripling from $6000 in one month. It even endured the hacking of one of its exchanges, NiceHash, where $70 million was looted without so much as a stutter in the upward thrust of the chart. Whatever else Bitcoin is — and I would suggest a “Ponzie,” a “mania,” a “con” — this thing is a message. The message is that financial circulatory system of the global economy is in some kind of distress. Another take-away is that the rush into Bitcoin represents a loss of faith in matrix of rackets that world banking has become, and a flight to perceived safety in a putative financial instrument beyond the clutches and the lying propaganda of nervous, self-interested governments.

For the moment, Bitcoin is doing the job that gold used to do: indexing the loss of value in paper currencies and the things that affect to represent them. Except that Bitcoin has no material reality. It is a figment of mathematics. The vaunted blockchain “technology” is just a formula for packaging information and assigning it to live in various places. It appears to have some worth as a ledger system, for keeping track of accumulated value in an allegedly transparent and honest mode. But the thing it is toting up and sending chits around the world for — Bitcoin — has no value in and of itself.
 

diegosanaz

BU MSMF
Cryptos have added value. Etherum as a crypto has more value that Bitcoin since you can do more with the code (automatically excecuted contracts). Though cryptos have a feel of a social network, the more people that are using it the more value it has.

I have been riding the bubble for a while for Bitcoin and Etherum. Even though it does have store value, it still HAS to crash soon. Most people buying Bitcoins are not buying it to use them, they are buying it because they hope to sell it at twice the price in a few months.

Most buyers are retail investors that wouldn't even know how to spend the bitcoin instead of selling it. Once euphoria is over, expect a 50%+ drawdown.

I still believe though that in 10 years a crypto will worth a lot. Here is the question, is Bitcoin "Facebook" or "MySpace"?
 
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