Replies to post #130030 on DD Support Board and Research Team

[Monksdream]

It sounds like justifying an investment.

Exactly.

About a dozen pink sheet issues with a blockchain/bitcoin have gone parabolic in the past couple weeks. Some have already declined more than 50 percent from the recent peak. In the days ahead the pink sheet traders will discover more issues and trade them higher for a few days. They will sell and then attempt to discover more tickers to trade.

And so it goes.

But your assessment -- you really did some incredible homework -- which reveals the inherent flaws in this imaginary currency connected to a form of computing technology won't convince everyone. There will always be a subset of true believers who will simply refuse to see the forest for the trees.

[YesWeCannabis]

Valid points. You missed the post a few before this one where I said it was about the Blockchain and less of Bitcoin. Trying to separate the two will be damn near impossible. Something must be the underlying value and Bitcoin is already there.

Nevertheless, well said. I thought I was attaching to a different question or statement, not sure how it ended up on this thread.

[samsamsamiam]

Well done!
If this was a stock specific board I would be saying STICKY THIS!
Looking forward to more analysis like this as the storyline unfolds.

Thanks!

[DragonBear]

It sounds like justifying an investment.

One article said it best:

As we’ve discussed, there is no way to value bitcoin. There is no intrinsic value. To this point, it has been bought by people purely on the expectation that someone will pay them more for it, at some point. So it's speculation on human psychology.

To that extent it sounds very close to the Microcrap stock trading game: A group of pumpers on IHUB buy a Microcrap stock with no intrinsic value. Then convince someone else to buy it for more from them. With the pump posts about the stock providing the human psychology for speculating about the stock value.

The speculative valuation of Bitcoin has been compared to the tulip mania bubble. The difference is the tulip mania bubble never had the virtual background of today's electronic trading. Just read some anal-yst predicting Bitcoin to $50K by EOY 2018, and $400K-500K by EOY 2023. Naturally the author admits to being Long in COIN.

So it appears the manic speculation has an orchestra of pump theme music. What deflates the Bitcoin bubble? The recent news it will be traded on an exchange that will allow Shorting via options is a huge step. Some Hedgies will purchase Puts, and then crank up the negative news. China forbidding commodity trades involving Bitcoin is another wall against the speculation. Where China increasingly controls how the world of commodity buying-selling is controlled. The bubble will pop. Like all bubbles the popping will be unpleasant for those who bought at the top. I wonder what all the traditional gold bugs think about this virtual rival to their beloved gold holdings?

[Wildbilly]

Good post Kitt.