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I've been following the Bitcoin crypto currency for a while now and am wondering if the bubble has burst. Yesterday it had a high of nearly $11000 US, when I first checked this morning it was down about 4% and has continued to decline, last check it was around $9200 US.  
Now for the interesting question. If you own Bitcoin what do you do with it? It appears to be priced against the US dollar, which many consider a fiat currency, so do you exchange it for a fiat currency, or watch the bubble burst.

I as well have been following the cryptocurrency market along side the standard stock markets. I wouldn't say the bubble has burst as per say but its more of a situation where the stock has hit its version of resistance and is coming down a bit to its support and should probably begin to bounce back a bit. The problem is analysts are trying to treat this one like trading FOREX, which you really cant do with this type market trading. Bitcoin and its derivatives are traded a bit differently.  
 
As for your second part, the whole point of bitcoin is to essentially be run an managed outside of a governments hands to prevent the issues today we have with currency that is created by the government. For me i think i would keep my bitcoins in the wallet until im pretty satisfied then cash out to a standard flat currency.  
 
What would you do?

When I look at the appreciation of the Bitcoin since the middle of July, when it briefly dropped below $2000, and just a few days ago approached the $11000 level I would likely bail, although that's just me. I never bought into the Bitcoin idea because of a there was a finite number that could exist, and there was a formula about the creation of new Bitcoin, this led me to believe that it could be manipulated.  
Many people hate fiat currencies, but because we live in a debt society, as well as an inflationary society, the supply of money does have to be regulated. Leaving the gold standard was necessary to grow the world economy in the early 70's, and there was a bit of a learning curve that happened in the years that followed, money supply grew and we had a good bout of inflation, this led to a tight monetary policy.

I was always skeptical of it. I still am. It is backed by nothing. It is a classic bubble, but predicting the top of a bubble is very hard, as is knowing where it might settle down to.  
Some people point to it as being the way of the future, but could you imagine working with a currency that fluctuates so wildly? Agreeing to sell my pickup for one bitcoin yesterday and getting payment today would be rough. Just imagine the person who promised the neighbourhood kids a bitcoin to shovel their walk each time a few years ago when it was worth a buck. They'd be lined up waiting fr the first snowflake!

so how does this bit coin actually do you buy so many bit coins with credit card or paypal which comes out your account. then you use the bought bit coins to purchase items online. if that's the idea then why not just purchase merchandise with your credit card or paypal like we do now  
 
Edited by Brian, 2017-11-30 23:20:25

Here is a link that describes the purpose and creation of bitcoin. In general its created no differently than actual money where only a certain amount is created a day and fluctuates just like money or the USD to CAD  
 
https://www.bitcoin.com/guides/bitcoin-white-paper-beginner-guide

Anyone who may have bought in and made money likely did so for a larf when it was cheap.  
 
By the time something becomes a bandwagon, it's way too late.

it is never to late. More and more new projects on the blockchain are being released and making tons of money on them. And people thought it was to late when bitcoin hit $2000 now it''s 11000 USD and projected to hit up to 100 000 in a couple years. Bitcoin isn''t the only crypyocurrancy out there. I've made thousands on crypyocurrancy already and making more everyday from it.  
 
If anyone has any questions or wants to know how to get started send me a pm  
 
Edited by Goatmanatv, 2017-12-04 07:50:05

watching it drop from 25k cad to 16k cad in a day made me a little nervous, but seeing the growth from 10k at the end of nov to todays value we are still quite ahead. Now that its gaining so much popularity I can only see it rising. Problem in canada is the lack of competition from exchanges, There needs to be more then QCX to withdraw FIAT.

Like all pyramid schemes this will eventually collapse and those that can't cash out fast will be fleeced.

Thoughts on Bitcoin now after the recent drop (currently sitting at less than half of its peak in December)? Sweating yet Jayron?

Crypto(unregulated)currencies lost $115 Billion US on Friday.

When something seems to good to be true it usually is. Before the break it did send signals, on of them being it's worth x dollars today but that's just the start of it, also when something hits Main Street news it's better to shy away.

Actually even the stocks markets haven't been doing that great since mid Jan.

https://en.m.wikipedia.org/wiki/Mt._Gox  
 
Bitcoin is only as good as the exchange you use, bankruptcy and stolen or missing coin are often the norm.  
 
At the time, 70 percent of bitcoin transactions went through this one place and the link above is the biggest theft of coins I know of.  
 
Do your own search, Bitcoin exchanges are unregulated and regularly go bankrupt, are hacked, or just steal your coin.

When these fake currencies were escalating: "Government should stay out of it".  
 
Now that so many have lost billions: "The government should do something".

Bitcoin: an investment mania for the fake news era.

One thing I was surprised at was how the currency traders, or exchanges got a product on the market so others could also make money by trading the Bitcoin,