How to prepare for the bitcoin crash

Sherbert Hoover said:

Tulip bulb argument isn't worth a shit either. That was 400+ years ago, there are so many other factors at play.

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Wasn't saying saying that the pattern the tulip market had hundreds of years ago would be the same with bitcoin, just saying that this came to mind. Tbh I have no clue/predictions on how this market will sway with crypto, all I know is that it's quite vulnerable rn.

Right, I chimed into a thread earlier on in the week... I will chime in this one...

In all ending bubbles there is a period where PR manipulate the information too pump the the bubble when it's deflating.

Can anyone remember when the price dropped about 7 weeks ago ? Well, it was going down the price wasn't it!

Then all of a sudden there was a burst of PR about price going down, then all of a sudden it started going up again...

Now the media really is all over this at the moment, as it's a hot topic of discussion.

The price has grown over 6000 euros...

Now I say to myself logically... in another 7 weeks time, will it grow another 6,000 euro ? I just think we are heading towards a train wreck for a lot of people.

I also want to touch upon somebody who stated about John Mcaffee... like he is a credible source ? I'm sorry but the guy is fucking idiot.. do you really believe his comments he will eat his dick on national TV, if bitcoin will be worth 1 million by 2020.. haha you really are a fool.

I mean seriously!!! comeon man, wake up and smell the coffee... it's already getting old people keep bringing the same subject over and over again, it's getting boring.

People don't know what will happen in 5 mins from now with bitcoin, let alone 2020.

We are most certainly entering a bubble been fuelled by people even believing john mcaffee for fuck sake... his speciality isn't investing or crypto.. his comments have no validation what so ever than the average joe in the bar who shoots his mouth off after a couple of shandies.

People, I tell you.. invest your money, please don't listen to these bubble threads... you know better with your limited knowledge!

Where are you basing your knowledge from.....ohhhh that's where THE MEDIA!!!!!

Please people be a dumb ass and invest $11, 000 in a coin that wont even be worth half that in a year from now...

The hype and the bubble will slow and then pop.. then booomm!! let me clear up on your loss.

Even threads like this are pumping up the hype..

I feel the price will be pumped, pumped and pumped!!!

There is gonna be a lot of dumb ass people believing the media, investing in cryptocurrency.. then whats gonna happen ? eventually that price is gonna crash, giving people a shot of reality.

Hell.. now I want people to keep investing money in bitcoin. Because when it crashes, I'm gonna be there to clean up

I do feel when the pop happens.. it wont go to nothing, it will still have some value but it will bring the price right down.. lot of people will be offloading then

When the price comes down, people will be SUPER, SUPER cautios about bitcoin..

Once bitten, twice shy!

Once you get bitten hard, you will then finally understand... until then, enjoy the bubble.. nothing lasts forever.

PUMP, PUMP,PUMP AND THEN THE GOLD OLD DUMP

I do both long and short in BTC and many other Crypto because i believe there's money to be made there. But BTC is clearly a bubble, early adopter need new blood to buy-in so they can cash-out, its just a matter of when will it burst.

Still, i believe that Cryptocurrency is the future. Something solid like XRP, and ETH. BTC itself is actually technologically obsolete, and slow.

zagard said:

But BTC is clearly a bubble, early adopter need new blood to buy-in so they can cash-out, its just a matter of when will it burst..

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Very true... what is fuelling this bubble is the media and the people thinking everything the media is true... bahahaha!! I mean seriously, we are on a bloody marketing forum, where we all know PR can be manipulated.. There's even authors on Forbes, Huff Po, etc, who will write an article on anything you want, as long as you got the money.

There has been a surge with bitcoin and it's really getting annoying.. because people are acting like it's something new for fuck sake... I have been getting bitcoin for quite a few years now.. This aint new too me...

Only last month Coinbase had over 100, 000 people sign up in ONE DAY... YES, YOU HEARD CORRECTLY.. 100,000 people signed up in 1 day to coinbase.. why did they do that for... because the more mainstream it's becoming, the more people thinking it's new and they need to jump on this before they loose out..

Yes, currently there is huge hype around it but it aint gonna last forever.

Here is what BILLIONAIRE Carl Icahn said

If you read history books about all these bubbles, like in Mississippi — where John Law went around selling all this land in Mississippi that was sort of worthless and the French were going crazy giving him all this money. And then one night it all blew up … to me, this is what this is

CEO of Bank Of America

CEO of JP Morgan has said it's a bubble

CEO Of Goldman Sachs has also bashed bitcoin

Even the Nobel Prize-winning economist Joseph Stiglitz


These people are super intelligent.. they are not to be under estimated..

Just like in the marketing field, you have personalities, same in the finance industry...

If they are telling u it's a bubble, you should listen.. these guys are not stupid..



Now on the other hand, when someone on this very thread quoted John Mcaffee, like he was a credible source... pffft what a fucking joke! seriously!

So john mcaffee said before it will be worth $500,000.... now he's getting a little bit caught up in the bubble and hype and saying it's going to be worth $1 MILLION... If it's not he will eat his dick on national TV..

I mean seriously guys, fucking think logically here.. don't listen to this fucking idiot!

There is a lot of people who have joined the Bubble Brigade and I for one know it's going to pop..

It's not going to pop and be worth nothing.. It's still going to be worth something.. but just not as much as it is now.. The only reason it has value at this current time and constantly growing is because of the amount of people jumpin onboard.. The supply and demand .. simple economics.

What your also getting is a lot of people jumping on board to mine BITCOIN as well.. which will introduce more currency.. which will drive prices down further... These are the glory days for BITCOIN, this bubble wont go on forever...

I even read some stupid dumb ass saying that he believes it will be a million based on the current growth rate... I mean bro, are you really a fucking dumb ass.... the whole reason we have this growth is from it going more mainstream in the media.. Do you really think it's going to grow over another $990,000 ? pfftt... please get a fucking grip and remember to start taking your meds again.

What is discussed LOTS is the amount of people purchasing BITCOIN. So like I stated previously in my last post, 100,000 users signed up in 1 day last month at coinbase.. why was that ? media hype! That's why!

What is not discussed so much is mining! The amount of people mining this now is also getting NUTS!

More and more people everyday are looking to mine bitcoin because of this hype..

Whats going to happen when people mine, is it will introduce more bitcoin currency into circulation.. again if you know economics, you will understand that this will drive the price down.

Key factors to bitcoin value right now is as follows;

- Mainstream media

- Hype

- 16 million bitcoins in the world are currently been circulated. The rest is apparently "lost"


Now on a global scale, bitcoin is struggling to supply the demand. However, just as many people purchasing bitcoin as an investment, you have the flip side of the coin, where people are also investing into mining bitcoin. By 2020, we will have a ton off miners and prices will be low.. so john mcaffee, you can eat my dick on national TV. The dude seriously is a fucking freak.

Easy solution to the crash: Sell low and buy high

shagoholic said:

What is discussed LOTS is the amount of people purchasing BITCOIN. So like I stated previously in my last post, 100,000 users signed up in 1 day last month at coinbase.. why was that ? media hype! That's why!

What is not discussed so much is mining! The amount of people mining this now is also getting NUTS!

More and more people everyday are looking to mine bitcoin because of this hype..

Whats going to happen when people mine, is it will introduce more bitcoin currency into circulation.. again if you know economics, you will understand that this will drive the price down.

Key factors to bitcoin value right now is as follows;

- Mainstream media

- Hype

- 16 million bitcoins in the world are currently been circulated. The rest is apparently "lost"


Now on a global scale, bitcoin is struggling to supply the demand. However, just as many people purchasing bitcoin as an investment, you have the flip side of the coin, where people are also investing into mining bitcoin. By 2020, we will have a ton off miners and prices will be low.. so john mcaffee, you can eat my dick on national TV. The dude seriously is a fucking freak.

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More people mining bitcoin will not increase the supply of bitcoins. It will just increase the competition to win the bitcoin via mining. The bitcoin money supply is not a function of the amount of miners.

Cam Newton said:

More people mining bitcoin will not increase the supply of bitcoins. It will just increase the competition to win the bitcoin via mining. The bitcoin money supply is not a function of the amount of miners.

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More people mining more bitcoin WILL increase the amount of bitcoin in circulation.

More bitcoin is circulation. Means prices go down. The only reason prices are high is global demand for bitcoin, which is been fuelled by the media hype.

Simple economics!

Just to clarify, you also don't "win bitcoin" ... Here is a quote from investopedia.

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. ... The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.

I was talking with someone today about this exact thing, what he was telling me : "no way, my estimation is that bitcoin will reach 100k-150k $ in 2 years go figure..

shagoholic said:

More people mining more bitcoin WILL increase the amount of bitcoin in circulation.

More bitcoin is circulation. Means prices go down. The only reason prices are high is global demand for bitcoin, which is been fuelled by the media hype.

Simple economics!

Just to clarify, you also don't "win bitcoin" ... Here is a quote from investopedia.

Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. ... The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.

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You are wrong. I suggest you do more research before you have such a strong opinion.

This will happen regardless of the amount of miners;
https://bitcoinproject.files.wordpress.com/2011/06/total_bitcoins_over_time1.png

Stiletto said:

I was talking with someone today about this exact thing, what he was telling me : "no way, my estimation is that bitcoin will reach 100k-150k $ in 2 years go figure..

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That's all it is bro.. talk.. that's it..

Here is what BILLIONAIRE Carl Icahn said

If you read history books about all these bubbles, like in Mississippi — where John Law went around selling all this land in Mississippi that was sort of worthless and the French were going crazy giving him all this money. And then one night it all blew up … to me, this is what this is

CEO of Bank Of America

CEO of JP Morgan has said it's a bubble

CEO Of Goldman Sachs has also bashed bitcoin

Even the Nobel Prize-winning economist Joseph Stiglitz


It's all talk with a lot of people.. They are not backing up what they said with data.. just what they think they know, based on there judgement from what the mainstream media is pumping to us through TV, Newspapers and blogs.

However, everyone is entitled to there opinion.. However, I for one am part of the "Bubble Brigade"

You guys are asking the wrong question ( i did that too).
The wrong question is : " is bitcoin a bubble, a hype, or not ? "

The right question is : " whatever the fuck bitcoin is, how can we make money out of it"

The point is I stopped worrying about wether bitocoin is a bubble or not, im going to make money trading crypto (very carefuly) and I think the best way to make money is actually day trading because this crap really can crash one day but if you're in and out of trades and are trading with your finger on the pulse, its almost free money. I'm in

Cam Newton said:

You are wrong. I suggest you do more research before you have such a strong opinion.

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I am not wrong! Mining bitcoin isn't a game of bingo!!

The way mining works is adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

So you don't really "Win" bitcoin, you are awarded...hence the bigger miners keep getting bigger and the smaller miners are pushed out of the market.

Instead of just saying your "wrong" in a reply, why don't you add some real substance to the reply. As it just feels your trolling more than anything.

shagoholic said:

I am not wrong! Mining bitcoin isn't a game of bingo!!

The way mining works is adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

So you don't really "Win" bitcoin, you are awarded...hence the bigger miners keep getting bigger and the smaller miners are pushed out of the market.

Instead of just saying your "wrong" in a reply, why don't you add some real substance to the reply. As it just feels your trolling more than anything.

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I edited my post to show the future supply of bitcoins, regardless of the amount of miners.

More reading

https://99bitcoins.com/obituary-stats/

In my thought there is 2 side of people and they are both not subjetical to bitcoins.

1) People who have bitcoins or both when they who's on cheap price. That people never gonna say anything wrong, because they won and they will always wait for bubble whit sayings "bitcoin will rise to 50-100k".

2) People who didn't had money, or did not invested in them, they are now just angry about this buble, they will always wait for that bubble blast and when that will happen they will will be happy on other people loses.

My thoughts is 50/50, I`m in middle. You can make money, but hoping that it will gonna rise to 50, or 100+k, I don't believe, how something not real can be that much of worth? Yes it have potential, people will use and maybe this is future currency, but remember that banks have all power and banks don`t like bitcoins, it just gonna kill banks, at another end any logical thinking person can understand that this bubble you can make if you have loads of money. You can invest lot of money in this, you can hire press and other media when bubble goes super high, you can sell them, the price will go down. Because I believe that price is really connected to how much people have them and how much people are selling them.

So people be real, you can invest in gold, diamonds, old paintings, land. This stuff never gonna go down. If you want real business make website, or apps, I can bet that this will make you even more money then holding to bitcoin bubble.

I have friend, he is like mentor to my, he whose member in here lot of years back. He made website that makes more than 50k euros in month, last year his company earnings whose 780k euros in all year. All number are real and posted in government companys website. He made everything in 3 years, with super good seo and super strong backlinks. Sorry, but this is art of making money, not crypto trading and believe me everybody can do this, crypto is just easiest path

And don't forget litecoin same buble coming, I mined it 5 years back It whose 12 dollars. Check out now https://www.coingecko.com/en/price_charts/litecoin/usd

I mined in this pool WeMineLTC now read this https://www.coindesk.com/litecoin-mining-pool-disappears-fraud/ it whose super big litecoin mining pool, so I can bet that 90% of people holding bitcoins in that virtual online accounts, are you never thinking that how much money they can steal? I can bet that any owner of big exchange site thinking that they can steal all money any time if they will get in trouble.

Bluearrow said:

Yeah people waiting for a BitCoin Crash for ages now. Everytime it goes down a bit price goes up 2-3 times. Plus lots people waiting for next crash so they could buy coins for cheaper. So I don't know if a big time crash ever gonna happen.

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i agree. if a big crash happens it wont be anytime soon

zionbar said:

You guys are asking the wrong question ( i did that too).
The wrong question is : " is bitcoin a bubble, a hype, or not ? "

The right question is : " whatever the fuck bitcoin is, how can we make money out of it"

The point is I stopped worrying about wether bitocoin is a bubble or not, im going to make money trading crypto (very carefuly) and I think the best way to make money is actually day trading because this crap really can crash one day but if you're in and out of trades and are trading with your finger on the pulse, its almost free money. I'm in

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^ This is totally on point my man.

I've been thinking the same, how can I make money right now whilst it's hot.

I've been buying alt coins and hodl, however i think a better approach and more sensible would be to day trade whilst we know the present time is certain and the future simply is mystery.

r3L4x said:

In my thought there is 2 side of people and they are both not subjetical to bitcoins.

1) People who have bitcoins or both when they who's on cheap price. That people never gonna say anything wrong, because they won and they will always wait for bubble whit sayings "bitcoin will rise to 50-100k".

2) People who didn't had money, or did not invested in them, they are now just angry about this buble, they will always wait for that bubble blast and when that will happen they will will be happy on other people loses.

My thoughts is 50/50, I`m in middle. You can make money, but hoping that it will gonna rise to 50, or 100+k, I don't believe, how something not real can be that much of worth? Yes it have potential, people will use and maybe this is future currency, but remember that banks have all power and banks don`t like bitcoins, it just gonna kill banks, at another end any logical thinking person can understand that this bubble you can make if you have loads of money. You can invest lot of money in this, you can hire press and other media when bubble goes super high, you can sell them, the price will go down. Because I believe that price is really connected to how much people have them and how much people are selling them.

So people be real, you can invest in gold, diamonds, old paintings, land. This stuff never gonna go down. If you want real business make website, or apps, I can bet that this will make you even more money then holding to bitcoin bubble.

I have friend, he is like mentor to my, he whose member in here lot of years back. He made website that makes more than 50k euros in month, last year his company earnings whose 780k euros in all year. All number are real and posted in government companys website. He made everything in 3 years, with super good seo and super strong backlinks. Sorry, but this is art of making money, not crypto trading and believe me everybody can do this, crypto is just easiest path

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oooooooooooohhh if i could award this post 100 likes i would. the best post on this thread imo. You are my kinda guy. I esp. love the last paragraph. Long term white hat projects are the best.