Your arguments are valid and what you describe can happen but at this current point in time, the fact is that the market only accepts bitcoin for universal acceptance as payment and store of value (yes, others also hold their value, but the most trusted one is btc even if it's a subjective statement). We live in interesting times and I think traders/speculators can benefit in this market while mitigating the (perceived) risks.
Good post , agree , its the madness of the masses as usual , and the price , they keep checking the price , they didnt buy it at 10 cents they want to buy it at $8000 , thats : retarded + bubble = A joke to tell for generations .
You realize that those "they" you are referring to, are intelligent, high educated, wealthy fund-managers? No masses yet (that stage will take some years from now, still).
If that would be true the volume would go massively up. Why is volume then going down? How do you know that intelligent, high educated, wealthy fund-managers are buying? Do you know them or do they tell you what they do?
Its called delusion phase in a bubble cycle , the guys he is speaking of bought btc long time ago "smart money" .
We are still in the awareness phase. And with a disruptive technology you don't have Bell-curves but S-curves.
So bitcoin transactions are not anonymous? That's just the opposite of what all believers say. If not you cannot know who bought or sold. On the "smartmoney" I agree that was a good moment to buy. Most people I know who buy bitcoins just buy for a small amount as they don't want to risk a lot of money. The higher the bitcoin goes the smaller the impact of these buyers (which were in past the main buyers). At the actual prices it is not a bargain and doubling from $100 is far more easy then double from $8,000. You should put the bitcojn charts on a logarithimc scale and watch the chart again.
haha yes institutional investors at elitetrader and etoro and facebook selling their belongings to buy BTC at ATH !
That's BS. People like me never said it was anonymous. We talked about "pseudo anonymous", and that's the way Bitcoin was in the past 9 years. But it will change soon, as it is programmable money and this feature is high on the agenda of Developers.