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Bitcoins...the new Tulipmania?

Bitcoins...the new Tulipmania?

  • Yes, this bubble is bound to burst

    Votes: 11 84.6%

  • No, Bitcoins will thrive!

    Votes: 0 0.0%

  • IDK

    Votes: 0 0.0%

  • Other

    Votes: 2 15.4%
  • Total voters
    13
aberrant85

aberrant85

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Bitcoin’s value tops $1,000 for first time.

Bitcoins are a form of digital currency backed by nothing but the erratic faith its holders have in it. Now I read that they are currently worth more than $1,000 each. However, they could easily be worthless tomorrow if there is a collapse of confidence in their worth. This reminds me of the anecdote of the 17th century Dutch speculative bubble that was investing in exotic tulip bulbs. Will bitcoins survive as a thriving currency, or will people wake up and realize they are buying ones and zeros?
 
They make as much sense as QuiBids or DealDash bid points. Anyone that buys bid pennies for $.50 each deserves what they get for them. A fool and his money are soon parted. ;)
 
Usually the people who think bitcoin is legit are the ones who think the Mad Max trilogy is less of a movie and more of a prophecy.
 
aberrant85 said:
Bitcoin’s value tops $1,000 for first time.

Bitcoins are a form of digital currency backed by nothing but the erratic faith its holders have in it. Now I read that they are currently worth more than $1,000 each. However, they could easily be worthless tomorrow if there is a collapse of confidence in their worth. This reminds me of the anecdote of the 17th century Dutch speculative bubble that was investing in exotic tulip bulbs. Will bitcoins survive as a thriving currency, or will people wake up and realize they are buying ones and zeros?
Click to expand...

How can anything go wrong with that?
 
All I know about bitcoin is that its main selling feature is it's untraceable by authorities. Hence it's used on the "dark web," or onion sites, where things like child porn, videos of people being killed, illegal drugs are bought an sold, one can hire a profession hitman to kill his wife, underground terrorist groups meet and plot..... you know, that kind of wholesome all-american action.

So that being the case, and stop me if I have the wrong idea here, I think it's only a matter of time until bitcoin is stomped out. So that's how I voted. Good day.
 
I used to do bitcoin mining a couple years ago when you could still get a few on a home PC. I think I had like 5 of them at one point and sold them when they were at like $30 apiece. Kind of wish I had kept them now.
 
Well since Silk Road is back they will probably thrive for quite awhile.
 
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