Current Events > Is it safe to say the bitcoin bubble popped? It was at 18k last year now it 6k.

(+) Yeah! (+)

With no signs of ever growing thousands every other day like it did last year. Seems like all the people that pulled out and made millions are looking like geniuses.
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Buy buy buy

its in that phase just before the burst, lots of suckers buying thinking its gonna go back to 18k
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The real question is whether (if you're using it as an investment tool) it will grow faster than other investments in the near future. Diehard crypto-enthusiasts will basically say as long as it doesn't hit zero they aren't wrong, so it's no use trying to argue about whether their investment was bad or not.
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Yes. The crypto and bitcoin reddit subs regularly have suicide hotline number topics because they are afraid many would kill themselves over the drops. That porn guy is a millionaire. People were saying it was gonna hit $100,000 a coin he was like yea right and got out.

Also lol at this thread on r/bitcoin right now

https://www.reddit.com/r/Bitcoin/comments/8r0kzk/what_saddens_me_is_that_we_are_not_united_anymore/
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bump
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All I know is I screwed myself out of like 300 bucks by putting that into Bitcoin lol
Wish I had sold it when it got back to 10k which is what I bought at
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They told me to "HODL" so that's what I'm doing

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Friendly reminder that it was at 1k in early 2017
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i remember when buttcoins were 18 cents for a blockchains
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lol wtf is this

"ITS NOT JUMPING UP 10K EVERY HOUR ITS DEAD! ITS DEAD!!!!"
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GPU prices are going back down to normal so things are looking up. I guess not for the speculators though.
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I'm all for bitcoin dying a horrible drop back to cents
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Genocet_10-325 posted...

Friendly reminder that it was at 1k in early 2017

_BIueMonk posted...

lol wtf is this

"ITS NOT JUMPING UP 10K EVERY HOUR ITS DEAD! ITS DEAD!!!!"

Lol these type of believers.

If you didn't buy in when it was cents and dollars you aren't getting rich and it's a bad investment.
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Buy buy buy.
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Weren't there a bunch of CEmen who poured in thousands of dollars when it was in its prime? Ouch.

I threw in $100 to see how it would look. It's worth half that now lol.
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I think Ethereum is holding decently all things considered.
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Nevermind, it dropped about 100 in the past few days.
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or just its career
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Darmik posted...

Weren't there a bunch of CEmen who poured in thousands of dollars when it was in its prime? Ouch.

I threw in $100 to see how it would look. It's worth half that now lol.

I'm sure there were plenty who made out like bandits

I'm sure there were/are plenty who bought into the "HOLD" mentality
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Sexypwnstar posted...

Darmik posted...

Weren't there a bunch of CEmen who poured in thousands of dollars when it was in its prime? Ouch.

I threw in $100 to see how it would look. It's worth half that now lol.

I'm sure there were plenty who made out like bandits

I'm sure there were/are plenty who bought into the "HOLD" mentality

Yeah for sure.

I mean those people who got into it when it was making the news. There were so many topics about it here and people saying to buy into alt-coins like Ethereum.
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Darmik posted...

Sexypwnstar posted...

Darmik posted...

Weren't there a bunch of CEmen who poured in thousands of dollars when it was in its prime? Ouch.

I threw in $100 to see how it would look. It's worth half that now lol.

I'm sure there were plenty who made out like bandits

I'm sure there were/are plenty who bought into the "HOLD" mentality

Yeah for sure.

I mean those people who got into it when it was making the news. There were so many topics about it here and people saying to buy into alt-coins like Ethereum.

Ethereum is the #2 crypto in the world. Hardly an alt coin.
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As I said since the beginning, it's not a sustainable model. People will continue to say that ups and downs are normal, but dropping 150% in a year with little recovery is insane. It doesn't work as a currency, and as a resource, it is pretty stagnant.

Frankly, the only people who are still shilling it are the ones who bought in at the beginning and want to convince everyone to buy to push the price back up. All the other coins go through the same damn thing. The entire 'boom' is entirely rooted in big investors who advertised the coin and campaigned for it, not because the actual product was tangible.

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

Really, though, the whole key thing to take away is blockchain. That is a great technological advancement and will long outlast any sort of crypto.

There'll probably be another pump and dump before it's all said and done.
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LethalAffinity posted...

Darmik posted...

Sexypwnstar posted...

Darmik posted...

Weren't there a bunch of CEmen who poured in thousands of dollars when it was in its prime? Ouch.

I threw in $100 to see how it would look. It's worth half that now lol.

I'm sure there were plenty who made out like bandits

I'm sure there were/are plenty who bought into the "HOLD" mentality

Yeah for sure.

I mean those people who got into it when it was making the news. There were so many topics about it here and people saying to buy into alt-coins like Ethereum.

Ethereum is the #2 crypto in the world. Hardly an alt coin.

That was the one people said to buy a few months ago because it was apparently gonna be the next Bitcoin lol
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Dash_Harber posted...

As I said since the beginning, it's not a sustainable model. People will continue to say that ups and downs are normal, but dropping 150% in a year with little recovery is insane. It doesn't work as a currency, and as a resource, it is pretty stagnant.

Frankly, the only people who are still shilling it are the ones who bought in at the beginning and want to convince everyone to buy to push the price back up. All the other coins go through the same damn thing. The entire 'boom' is entirely rooted in big investors who advertised the coin and campaigned for it, not because the actual product was tangible.

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

Really, though, the whole key thing to take away is blockchain. That is a great technological advancement and will long outlast any sort of crypto.

Well said!
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Dash_Harber posted...

As I said since the beginning, it's not a sustainable model. People will continue to say that ups and downs are normal, but dropping 150% in a year with little recovery is insane. It doesn't work as a currency, and as a resource, it is pretty stagnant.

Frankly, the only people who are still shilling it are the ones who bought in at the beginning and want to convince everyone to buy to push the price back up. All the other coins go through the same damn thing. The entire 'boom' is entirely rooted in big investors who advertised the coin and campaigned for it, not because the actual product was tangible.

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

Really, though, the whole key thing to take away is blockchain. That is a great technological advancement and will long outlast any sort of crypto.

150% drop in a year with no recovery? What are your even talking about? It's only been 5 months since the highs. You realize BTC was $3k-$5k in November? And that things similarly went bad from Jan 2017 to July 2017 right?

I love how people in here even admit they don't really know what was going on and that they blindly invested or listened to people but now it's all "I told you so".

Nah, wait a full year at the very least before making final arguments.

Also regardless of anything, people in the crypto generals are still making money every day. Just off a $5k investment, I'm able to make about $1k a week. Not bad at all.

You make good points, but a lot of it has been said for years before and often disproven.
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Only ever used BTC way back in like 2012 13 14 when it was used for "those" types of purchases and was dirt cheap.

Dash_Harber posted...

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

It just seemed like Bitcoin's following was predominantly fueled by apathy towards modern economics. It's like digital gold-buying.
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bitcoins? more like buttcoins
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Scottydoesntno posted...

bitcoins? more like buttcoins

fucking got'em
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LockeMonster posted...

And that things similarly went bad from Jan 2017 to July 2017 right?

wat?

it went from 17.5k to 6.5k between Dec 2017 and now

between Dec 2016 and July 2017, it went from 850 to 2.5k

unless you';re talking about the overall crypto market and not just BTC specifically
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LockeMonster posted...

Dash_Harber posted...

As I said since the beginning, it's not a sustainable model. People will continue to say that ups and downs are normal, but dropping 150% in a year with little recovery is insane. It doesn't work as a currency, and as a resource, it is pretty stagnant.

Frankly, the only people who are still shilling it are the ones who bought in at the beginning and want to convince everyone to buy to push the price back up. All the other coins go through the same damn thing. The entire 'boom' is entirely rooted in big investors who advertised the coin and campaigned for it, not because the actual product was tangible.

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

Really, though, the whole key thing to take away is blockchain. That is a great technological advancement and will long outlast any sort of crypto.

150% drop in a year with no recovery? What are your even talking about? It's only been 5 months since the highs. You realize BTC was $3k-$5k in November? And that things similarly went bad from Jan 2017 to July 2017 right?

I love how people in here even admit they don't really know what was going on and that they blindly invested or listened to people but now it's all "I told you so".

Nah, wait a full year at the very least before making final arguments.

Also regardless of anything, people in the crypto generals are still making money every day. Just off a $5k investment, I'm able to make about $1k a week. Not bad at all.

You make good points, but a lot of it has been said for years before and often disproven.

Lol
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Just look at the crypto general. That topic used to go to 500 once a week. Now it is two months later and struggling to go to 500. The bubble popped the majority got out several months ago and cut their losses or got out with their profit. It isn't gonna hit 15,000 for a long time.
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Thats still a lot of money

JackSwanye2 posted...

Just look at the crypto general. That topic used to go to 500 once a week. Now it is two months later and struggling to go to 500. The bubble popped the majority got out several months ago and cut their losses or got out with their profit. It isn't gonna hit 15,000 for a long time.

yeah the current one has a 20 "B" on it because the previous one PURG'D

that's how slow it is rn
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LockeMonster posted...

Dash_Harber posted...

As I said since the beginning, it's not a sustainable model. People will continue to say that ups and downs are normal, but dropping 150% in a year with little recovery is insane. It doesn't work as a currency, and as a resource, it is pretty stagnant.

Frankly, the only people who are still shilling it are the ones who bought in at the beginning and want to convince everyone to buy to push the price back up. All the other coins go through the same damn thing. The entire 'boom' is entirely rooted in big investors who advertised the coin and campaigned for it, not because the actual product was tangible.

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

Really, though, the whole key thing to take away is blockchain. That is a great technological advancement and will long outlast any sort of crypto.

150% drop in a year with no recovery? What are your even talking about? It's only been 5 months since the highs. You realize BTC was $3k-$5k in November? And that things similarly went bad from Jan 2017 to July 2017 right?

I love how people in here even admit they don't really know what was going on and that they blindly invested or listened to people but now it's all "I told you so".

Nah, wait a full year at the very least before making final arguments.

Also regardless of anything, people in the crypto generals are still making money every day. Just off a $5k investment, I'm able to make about $1k a week. Not bad at all.

You make good points, but a lot of it has been said for years before and often disproven.

Well for me the crypto timeline started in September/October of last year. It was when the media started regularly reporting on bitcoin highs. There was tens of topics everyday on CE about it. People were complaining the bitcoin is driving the prices of GPUs up.

Now along with the bubble popping it seems even GPU prices are dropping back to normal.
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Remember how crypto was touted to all the normies last year looking to make money? Then so many got in that it spiked that price, and plenty of early adopters partially cashed out for far more than they ever could have before. It doesn't even matter if crypto recovers because they didn't buy it for much money at all. They needed to convince others to drive the price up to give their digital coin pile any value. It worked. At the expenses of everyone buying in. All while convincing others to HODL

Classic pump and dump
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Balrog0 posted...

wat?

it went from 17.5k to 6.5k between Dec 2017 and now

between Dec 2016 and July 2017, it went from 850 to 2.5k

unless you';re talking about the overall crypto market and not just BTC specifically

I was talking about how a lot coins peaked around January 2017 and then didn't see any momentum again till the summer.

Also, BTC is still up almost 250% from this time last year. It's far from the doom people have been repeating since 2013.

Also the fact that things popped and still remain higher than last year shows that it has strength and is just in a bear market right now.

Am I saying it will go back to the highs any time soon? No. Is it dead though? Far from it. BTC alone has died several times already and returned higher every time.

And in the short term, there's so much money to be made. The only thing that's gone is putting in x amount and having it multiply overnight.
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FreezerDoor posted...

LockeMonster posted...

Dash_Harber posted...

As I said since the beginning, it's not a sustainable model. People will continue to say that ups and downs are normal, but dropping 150% in a year with little recovery is insane. It doesn't work as a currency, and as a resource, it is pretty stagnant.

Frankly, the only people who are still shilling it are the ones who bought in at the beginning and want to convince everyone to buy to push the price back up. All the other coins go through the same damn thing. The entire 'boom' is entirely rooted in big investors who advertised the coin and campaigned for it, not because the actual product was tangible.

The propaganda about how it will destroy banks and give the power back to the average joe was just that, propaganda. It was literally just taking away the power from banks and giving it to cabals of rich investors who could manipulate it in the exact same way banks did.

Really, though, the whole key thing to take away is blockchain. That is a great technological advancement and will long outlast any sort of crypto.

150% drop in a year with no recovery? What are your even talking about? It's only been 5 months since the highs. You realize BTC was $3k-$5k in November? And that things similarly went bad from Jan 2017 to July 2017 right?

I love how people in here even admit they don't really know what was going on and that they blindly invested or listened to people but now it's all "I told you so".

Nah, wait a full year at the very least before making final arguments.

Also regardless of anything, people in the crypto generals are still making money every day. Just off a $5k investment, I'm able to make about $1k a week. Not bad at all.

You make good points, but a lot of it has been said for years before and often disproven.

Well for me the crypto timeline started in September/October of last year. It was when the media started regularly reporting on bitcoin highs. There was tens of topics everyday on CE about it. People were complaining the bitcoin is driving the prices of GPUs up.

Now along with the bubble popping it seems even GPU prices are dropping back to normal.

IDK about your area but I've seen a flood of mining rigs for sale as well as used cards that were obviously used as miners. The money is just not there any more with the current hardware for the average end user
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I still have my ETH I bought last year. Still up a couple of thousand dollars. Of course I "lost" a gain of $10,000 so that kinda sucks, but whatever.

I'm fine just seeing where it goes at this point. Probably jump out if it ever gets back to where it was in Jan.
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Yeah, itll be a long while before it goes back up. What hit hard was banks refusing to allow CC purchase of BTC. Ever since then the prices have plummeted.

Ive seen this (drop and conversation) before so Im not worried about it. The great thing is there is a bunch of altcoins that will eventually stick that are so cheap right now that are going to blow up, so you can get your chance at money too.
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Doctor Foxx posted...

Remember how crypto was touted to all the normies last year looking to make money? Then so many got in that it spiked that price, and plenty of early adopters partially cashed out for far more than they ever could have before. It doesn't even matter if crypto recovers because they didn't buy it for much money at all. They needed to convince others to drive the price up to give their digital coin pile any value. It worked. At the expenses of everyone buying in. All while convincing others to HODL

Classic pump and dump

Yeah. You can see the spike from it in this graph from coinmarket cap.



I don't think it will ever go that high again since the trend/meme died.
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Doctor Foxx posted...

Well for me the crypto timeline started in September/October of last year. It was when the media started regularly reporting on bitcoin highs. There was tens of topics everyday on CE about it. People were complaining the bitcoin is driving the prices of GPUs up.

Now along with the bubble popping it seems even GPU prices are dropping back to normal.

some of us here have been in the game since 2013 and earlier
this is nothing
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FreezerDoor posted...

Doctor Foxx posted...

Remember how crypto was touted to all the normies last year looking to make money? Then so many got in that it spiked that price, and plenty of early adopters partially cashed out for far more than they ever could have before. It doesn't even matter if crypto recovers because they didn't buy it for much money at all. They needed to convince others to drive the price up to give their digital coin pile any value. It worked. At the expenses of everyone buying in. All while convincing others to HODL

Classic pump and dump

Yeah. You can see the spike from it in this graph from coinmarket cap.



I don't think it will ever go that high again since the trend/meme died.

If you're in Edmonton you can also check Kijiji and see all the mining hardware that gets put out to pasture

And if you're not I do agree with your signature in as much as Edmonton can't draft shit
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Doctor Foxx posted...

FreezerDoor posted...

Doctor Foxx posted...

Remember how crypto was touted to all the normies last year looking to make money? Then so many got in that it spiked that price, and plenty of early adopters partially cashed out for far more than they ever could have before. It doesn't even matter if crypto recovers because they didn't buy it for much money at all. They needed to convince others to drive the price up to give their digital coin pile any value. It worked. At the expenses of everyone buying in. All while convincing others to HODL

Classic pump and dump

Yeah. You can see the spike from it in this graph from coinmarket cap.



I don't think it will ever go that high again since the trend/meme died.

If you're in Edmonton you can also check Kijiji and see all the mining hardware that gets put out to pasture

And if you're not I do agree with your signature in as much as Edmonton can't draft shit

My signature is 2-3+ years old just haven't changed it since I rarely go to the my account settings on this site.
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Turtlebread posted...

Doctor Foxx posted...

Well for me the crypto timeline started in September/October of last year. It was when the media started regularly reporting on bitcoin highs. There was tens of topics everyday on CE about it. People were complaining the bitcoin is driving the prices of GPUs up.

Now along with the bubble popping it seems even GPU prices are dropping back to normal.

some of us here have been in the game since 2013 and earlier
this is nothing

Yes for anyone that is in it long term is still a huge spike

But that's at the expense of everyone that had to buy into these coins to boost that price. There are so many new people that purchased crypto from terrible mainstream suggestions that got stuck holding the bag. It's going to make future crypto investing from the general public more difficult, and you're unlikely to see any kind of valuation spikes without that outside interest and money.
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Turtlebread posted...

Doctor Foxx posted...

Well for me the crypto timeline started in September/October of last year. It was when the media started regularly reporting on bitcoin highs. There was tens of topics everyday on CE about it. People were complaining the bitcoin is driving the prices of GPUs up.

Now along with the bubble popping it seems even GPU prices are dropping back to normal.

some of us here have been in the game since 2013 and earlier
this is nothing

Yes while that is true the people like myself who started looking into crypto around that time is what caused that spike. If there isn't a new group to get into it. It isn't likely there will ever be another spike in profits that happened during that time last year.
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