
Ask HN: Buy Bitcoin right now – y/n? - chrisallick
simple as that. curious what the hive mind thinks.
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qubex
Bitcoin valuation is pure speculation with no underlying value to revert to
(that's the optimistic scenario, at least — the pessimistic scenario is that
the underlying value it could/should revert to is basically zero).

As all financial products it has the bizarre property that they have opposite
elasticity compared to ordinary goods & services: while for most stuff,
quantity demanded rises as price drops, for financial assets the demand rises
as the price rises (and demand will drop when price drops).

It's pointless to ask whether $4000 is ”a lot” for a bitcoin or not, it's
basically impossible to estimate whether in the near or medium future the
price will be higher or lower... ask yourself instead how many people you
think will be willing to give you more than $4000 for your bitcoin in the near
future. Why would they want to? If you think there are, go for it.

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santoshalper
Who knows? There is no logic behind btc valuation other than speculation. It
is essentially a gamble.

I sure as hell wouldn't buy and hold though - as soon as major western nation
decides to ban or regulate it, the price is going to plummet.

This is just tulips all over again.

~~~
ptenk
People have been calling Bitcoin tulips since 2011. It's still funny now as it
was then too.

~~~
lun4r
Wait for it ... :)

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AureliusMA
Buy low, sell high

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ptenk
I'd wait for the dip below $4,000, but in terms of TA (Elliot Waves) as well
as Fib levels, we are most likely headed towards $5,000.

