When will Bitcoin implode

BananaRepublic

I know what you're thinking. There aren't enough Bitcoin threads on this forum. Well never fear ...

How long do you think Bitcoin will continue to grow before the crash? A crash is inevitable, it's just a question of when.

I am convinced it won't last another year. My guess is that it'll crash within a month. The vast majority of owners are investors, very few use it as a means to purchase a good.

How long do you give it?

Aegis

BananaRepublic wrote: »

I know what you're thinking. There aren't enough Bitcoin threads on this forum. Well never fear ...

How long do you think Bitcoin will continue to grow before the crash? A crash is inevitable, it's just a question of when.

I am convinced it won't last another year. My guess is that it'll crash within a month. The vast majority of owners are investors, very few use it as a means to purchase a good.

How long do you give it?

March 2018. No particular reason for that date though.

hildosaver

BananaRepublic wrote: »

I know what you're thinking. There aren't enough Bitcoin threads on this forum. Well never fear ...

How long do you think Bitcoin will continue to grow before the crash? A crash is inevitable, it's just a question of when.

I am convinced it won't last another year. My guess is that it'll crash within a month. The vast majority of owners are investors, very few use it as a means to purchase a good.

How long do you give it?

Depends what you mean by crash. If you mean a drop of maybe 40/50% then that could happen and probably will happen in the next year or two. If you mean a crash that destroys Bitcoin well I can't see that happening. It has 'died' hundreds of times before and has always come back stronger. The long term trend though is upwards, crashes will occur on the way up.

BananaRepublic

I mean a full blown crash. It may survive just as dot com companies did, but with massively reduced value.

The more I read about Bitcoin the more worried I become. It was created after the last crash which occurred because huge amounts of worthless assets were woven into the financial system. No one knew who would go bust so confidence was lost and banks did go bust. What we see now with the creation of Bitcoin derivatives in the form of futures is the potential for exactly the same kind of crash. And we don’t even know who created it or why.

Bonnie151

I am hoping to cash in some of my holding over March/April (assuming it reaches my first target) so I am hoping the next massive crash doesn’t happen before then. It can do what it likes afterwards.

I think those of us who lived through Mt Gox are possibly a bit more laid back about catastrophic crashes than those who haven’t.

BLB53

Twenty past three next Tuesday is my best guess!

JohnRo

The more I read about Bitcoin

The GFC was caused by incentivised criminal behaviour, since the people responsible worked for banking organisations deemed too big to fail, of which most are even bigger now, it must not be called that though.

The assets were not worthless, the problem was the junk debt attached to them was being sold as something else altogether more shiny by the vampire squid, then others realising what they were up to and trying to get rid of their parcelled and polished turds by doing the same to others.

I doubt you've read anything about bitcoin protocol much less understood it. Tabloid drivel is just that.

Anyone and everyone who wants to know what BTC is can easily obtain that information with minimal effort, understanding it may well take longer and the much greater complexity is in the finer detail of digital crytography itself. Everything is in the public domain at all times.

https://www.bitcoin.com/guides/bitcoin-white-paper-beginner-guide

BananaRepublic

JohnRo: That was very patronising. Did you actually read my post?

JohnRo

OK I apologise, I read your post.

I'm just trying to counter balance some of the irrationality and gleeful ignorance about bitcoin, I wish it was 'worth' £100, it's getting way ahead of itself in terms of value and there's no way it's ready for the sort of mass adoption the price seems to be suggesting.

It's a conundrum that I support the concept totally but the enthusiasm being generated around the current price is coming from folks who seem to have no idea what it is, it's making me align with the sceptics.

There are major development and implementation hurdles to overcome, many of which will cause conflict, before it's anything like ready for mainstream adoption.

Then again perhaps the elevated value will accelerate and help to resolve that process. One thing for certain though a lot of people new to it are at serious risk of being badly burned if they think it's money in the bank.

pearl123

On April 1st.

HappyHarry

BananaRepublic wrote: »

I know what you're thinking. There aren't enough Bitcoin threads on this forum. Well never fear ...

How long do you think Bitcoin will continue to grow before the crash? A crash is inevitable, it's just a question of when.

I am convinced it won't last another year. My guess is that it'll crash within a month. The vast majority of owners are investors, very few use it as a means to purchase a good.

How long do you give it?

Until the industrial warehouses mining bitcoin have mined enough and no longer need to ramp the price.

A few months ago, it was uneconomical to mine bitcoin due to electricity costs exceeding the value of the bitcoins mined. Now the value of the bitcoins is higher, it is a profitable business once more.

Would it not be reasonable to assume that some of the larger miners may have spent some time and money in ramping the price via any means possible, such as social media?