Vlog: 144: Will we enter the 5 digits Bitcoin era?
Will we enter the 5 digits Bitcoin era is on everyone's mind I guess?
It's hot news even on the most famous Dutch news site NOS.nl
Of course in the very first paragraph of the article, it's stated that Central banks say it's a bubble. (they later changed banks to word 'experts', I have screenshots, it made me giggle.).
I always wonder: if they are so good at detecting bubbles, why didn't they see the housing bubble?
But that's just me.
I think we could be heading for a correction at some point. But a correction and a bubble are not the same things.
Taking some profits on the way up is therefor never a bad thing.
New Dtube 0.5
It's officially released. here
Website: d.tube
The new uploader is great, give it a go. It's fast and it looks fantastic:
▶️ DTube
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You just hit the nail on the head. They could not detect the housing bubble on time, and now they have turned to bubble detectors just Because bitcoin is hitting them below the belt. One of the reasons why I feel bitcoin is not a bubble, is because of its growing acceptance as legal tender.
Previously, Bitcoin’s biggest challenges had been acceptance by lawmakers and financial regulators due to its decentralized nature and its unfortunate association with criminal activities carried out on the dark web. However, Bitcoin’s “official” acceptance is on the rise.
For instance In the Philippines, citizens have been increasingly using Bitcoin to send and receive low-cost remittances.Countries such as Australia and Russia have recently made similar statements that could lead to Bitcoin becoming a fully accepted medium of exchange in their respective countries. This is a trend that is likely to continue, given the growing demand for Bitcoin as an investment as well as an online payment system.
Yes, like every fast growing stock, there might be a correction, but I don't see a bubble in view. Nice one.
Certainly interesting points. If Bitcoin really is in a bubble, it's a very strange kind of bubble, and one that recovers from bursting almost instantly.
I think the biggest issue that people run into is that, while there are some principles of economics which apply to new kinds of currency (and hence Bitcoin), Bitcoin is such a different beast compared to other kinds of currency and property. How do you make accurate predictions about something so unique? The answer is that, generally, you don't. Everything is a semi-educated guess.
More to the point of this post, yes, I see a 5-digit Bitcoin as a very real possibility, and it may be only the beginning of exponential growth. You might say I've bet money on it. ;)
A strange bubble indeed. Especially when people tell me that it popped. I wonder where they get their news.
Yeah the real "bubble" is the US petro dollar and the slow world shift to the new silk road which no one seems to talk about. Though I think Bitcoin is not without its problems. Its certainly not the best coin for transactions its slow, and the difficulty is so bad that if there is a serious dip in price miners switch to BCH for their profitability. Though with 10K BTC I guess they wont switch anytime soon. I also think BTC is kind of the xgeneration/millennial gen gold. Since the metals market is so manipulated many are hoarding cryptos instead of gold or silver. I think maybe BTC will be around as a large store of wealth like gold, but we need silver or ethereum or litecoin for transactions. Cool posts guys for sure we are moving into this change with our eyes open..
'if they are really good at detecting bubbles why did they not see the housing bubble'
This really made me laugh. So on point @exyle.The moment its an issue of bitcoin, these bankers have suddenly become bubble detectors, they probably deserve a Nobel price.
You know I've been thinking about this topic for some time now. The principle behind bitcoins rise follows basic economics taught in high school. The supply is limited to 21 million units and this necessarily makes bitcoin a scarce asset. When things are scarce and people want those things, their value will ultimately rise. Supply and demand at work.
Thus, when economics and the network effect intermingle, you have a recipe for explosive growth within an asset. Bitcoin is not some new version of the 17th century tulip bulb. It is a groundbreaking advancement in accounting and money.
If bankers choose to ignore this, then thus makes me smell something fishy.
Awesome post @exyle, I really love your posts.
I woke up this morning around 4:00am, then I saw bitcoin is now $9500, I was really surprise.
I was just thinking how high it will hit the sky before of on 1st of 2018.
The way bitcoin is moving, it seems that it will hit 5 digital before next weekend
I remember I tried Dtube when it first released, it seemed so slow that I didn't bother. But hey, I will give it a new try!
It has improved so much. Give it a try!
It is definitely too hyped right now, even people who are most unlikely to learn about tech are actually looking to put their money into BTC; I think this is a sure sign of a overheated market.
[email protected] lot of people have compared bitcoin to past bubbles, calling it a hype, and they are not wrong to do so. Any normal reasonable person that earns his money from hard work will like to be sure before he invests his or her money.Yes I personally think what people call hype in the case of bitcoin is actually people talking of the potentials bitcoin truly possesses.Bitcoin is serving the purpose for which its being talked about so well. Ive been able to transfer money easily between countries because of bitcoin, and that's just one of its benefits. If you check through history, you'll find out that the bubbles of past years were because the products were just hyped..They did not deliver what they promised. Just recently, bitcoin saved people's money in Zimbabwe when there was a political crises.These are the feats that make bitcoin valuable and thick,and not just random hype.
Wow. what people see as a bitcoin "bubble," from the perspective of the new paradigm, is merely the predictable and systematic devaluation of fiat currencies that will continue, with obvious ups and downs, until all fiat currencies reach the zero point. As the relative value of bitcoin temporarily drops, they will point to this as proof if their understanding. It won't matter. The reality if this new world is what it is. Those who understand will be the leaders of this new world
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Exciting times!... but I guess it has been for all of 2017 so far. Dtube is a bit weird for me and doesn't work very well, for example your video was zoomed in on the top left corner and a large chunk of the frame was cut off
I'm having a hard time with this whole thing as well, correction or bubble? That is the question.
Am sure that we will enter the 5 digit bitcoin era might be sooner than later however expect our dear steemit to shine from next year, am quite optimistic..
Upped, always. My gift for you, feel free to see my latest post on bitcoin and a new project and apply for free coins / airdrop....success
sure has been a surprising ride this year
Yes we will see Bitcoin 5 digits soon. @exyle Just buy what you like on pullbacks in price. I am going to check out the Dtube video right now.
will we ?
https://steemit.com/bitcoin/@kickassfacts/bitcoins-facts-infographic
2weeks. A tipp-look at the marketcap daily this tells you a lot. It's goimg uo steady so BTC could be 10000 in days. HISTORY PEOPLE. After that the big investors will all want in.