
Bitcoin nears $8,000 as ‘FOMO’ traders pile in after crash - senthil_rajasek
https://www.marketwatch.com/story/bitcoin-nears-8000-as-fomo-traders-pile-in-after-crash-2017-11-17
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Klathmon
I know it's cool to hate cryptocurrencies, but the whole "FOMO" part of this
article is almost entirely made up.

Even if it's true, the author has no way to know that for sure, and
anecdotally I haven't seen it.

Most of the people that I know that are buying right now are doing so because
for the first time in a while (unfortunately) Bitcoin is in a fairly stable
state. There are no (serious) forks coming up, no massive scandals like a
major exchange going under, the mempool is back to a reasonable size, and
there are some really cool things on the horizon like lightning network, and
even further out possibly schnorr signatures.

Coming from the past months of forks, infighting, contentious upgrades, and
lots and lots of FUD, whenever I was asked about bitcoin I'd gladly talk their
ear off about it, but would end with a warning that it's a very iffy time to
be getting into things with how much was happening. Now it's starting to be in
a state where I would feel comfortable introducing people into the space.

~~~
sparkie
Bitcoin is not in a stable state. Price rises every time Tether decides to
fabricate 20-30 million dollars they don't have, which coincidentally happens
every time bitcoin starts to lose steam and the price drops a little.

> no major exchange going under

Not yet, but every exchange trading Tether will probably sink, along with the
price of bitcoin, when Tether (aka Bitfinix) can no longer keep up their
fraud.

~~~
charlesdm
Can $20m really push up the price that much, when talking about a $125bn
market cap? Seems like a pittance.

~~~
sparkie
It's 20m every couple of days now. over 200m printed in the past month.

~~~
charlesdm
Which exchanges does one use if you want to avoid Tether? Gemini? Gdax?

