Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

I think Bitcoin is going to crash at some point and I am not a very good gambler, I don't have the balls to risk everything on trying to get rich so I'm just staying out of it. I should regret not buying back in early 2011 (when I first saw HN submissions about it) but I know if I had I would have sold as soon as it hit anything close to $20. At least that's what I'm telling myself to make it easier to swallow. Therefore I have bought 0, but I do have 0.05 that someone gifted to me on reddit, which is worth $10 I think.


As long as people think that bitcoin is going to crash, it will continue going up. In stock parlance, that's called "climbing the Wall of Worry".

It's only after the last cynics have been suckered in, most believe that "you just can't lose" is when it is going to crash.


What? That's absurd. A bubble crashes when people LOSE confidence, not when they gain it.


It's not just about confidence.

If the price is being driven by new speculative investment (ie, a bubble), the price should stagnate as fewer speculators join the pool. If the price stagnates, there will be little incentive for purely speculative investors to keep their money in BTC.

The last cynic buying in is just an indicator of late-adopters hitting the market, signaling little gains left to be had.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: