RE: Why I'm Negative on Bitcoin by mattniblock

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bitcoin · @mattniblock · Dec 19 '17

Great stuff as usual. I agree that it's refreshing and important to get an alternative view on Bitcoin in a world where everyone seems to be evangelising. 

However, I do also realise that you also have an appreciation that Bitcoin will probably still go up at least in the short term (I don't want to put words in your mouth but hope you know what I mean).

My question is, with the current low transaction numbers and high fees associated with BTC, do you have any other particular indicators in mind that would make you move your position substantially out of Bitcoin altogether and make you think, this is done?

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@cryptovestor · Dec 19 '17

No - if I did, life would be much easier. That's why I continue to monitor sentiment through news, online, and anecdotally in my own life. We're already starting to see a shift as more people view Bitcoin as a bubble which is concerning. I've made enough at this point that I will come out of this with a substantial profit regardless, so will continue to take risks as those risks continue to pay off. There are some potential metrics to watch (Market Cap / Transaction Volume ratio for example) that you can use for ideas of when to sell, but I have a feeling this particular bubble will defy all logic as it continues to rise from 'investors' chasing performance.

👍 alpss

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@mattniblock · Dec 19 '17

Thanks a lot.  As someone new to the space I'm really excited about the potential positive effects blockchain technology could have in ways we haven't even conceived of yet. However, I do worry that the way we're going, if (or when) this bubble bursts it could be hugely damaging for future adoption across the board and could really slow progress. I guess we just have to hang tight and try hard not get badly burned along the way.

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