Watching what is happening in #Bitcoin is actually terrifying right now.

It is the groups of people that are creating groups to get other people to buy into it, with no concept of how bubbles work, how dangerous leaving money on unregulated exchanges is, or how trading fever carries the newbie away with plans to buy houses and yachts, all while waiting to catch the price top and yet owning nothing but dreams in the meantime.

Bitcoin is worth nothing, until you sell it.

You cant ever catch the top of a currency, and the moment it tops, no one is going to get their money back after that, when it plummets.

Just totally insane some of the webinars I have been seeing with people getting into credit cards en masse, together to buy Bitcoin and thinking they are achieving something great, trusting like suckers, while making out they are somehow clever for doing... nothing. Its the high you get from seeing the rise upwards. This is a bubble, absolutely.

Many people with no concept of what will happen when the price turns around. When it does, there will be no way to sell it because the exits will be flooded and the exchanges will crash. Unregulated exchanges, that wont really owe anyone much since it is all...

UNREGULATED! Anyone here even heard of Mt Gox?

The irony is, if you say any of this to anyone, they tell you not to be negative.

No sh*t !

I truly believe when this bubble pops, which it will, then it will start the biggest financial crisis in the world seen to date, because of the freedom anyone has to put everything into Bitcoin right now. A kid can do it without their parents even knowing.

The money borrowed on credit, and being put into Bitcoin currently moving up at around 4 Billion Dollars every 24 hours on Coinmarketcap and growing exponentially, insanely right now, is all going to disappear in the moment it all turns around. Then the Bitcoin price will be gone, but the debts will remain.

It is going to be a Bloodbath.

Could be tomorrow, or worse, could be a year from now when everyone is so soporific to the price rising ever upwards, that they have no idea it will stop at some point.

My advice now is get out of Bitcoin now before it pops. Stop waiting for the top. Ask a trader for advice they might help you avoid the rookie mistakes such as mentioned here.

A hell of a lot of people are going to be totally ruined by Bitcoin when it crashes. And the banks will probably encourage this debt making, since they of course will then win again, when it does.