Topic: [2017-12-24] {theguardian} Bitcoin is a bubble, but ... (Read 176 times)

Bitcoin is going to be used only for a cold storage, cause with such fees and transaction speed it just going to be the most unpopular coin, in the case of transactions. Yes, the price is going to be high, but people will move to fast and cheap fees alts for easy use.

Stock market traders always called bitcoin a bubble. I don't agree with it. The idea of bitcoin is good and it is not intended as a bubble. We know a few examples of how ruined the company? They, too, bubble? For such statements are nothing but attempts at information warfare against competitors. But I agree that right now bitcoin is far from ideal.

Inevitable development of the technology, including bitcoin in the monetary system.
Bitcoin gain value because people believe it's worth something, meant to be a currency but lately bitcoin has lost its utility appeal and most people just treat it as an investment object to generate profits. It has been proven as the price swings significantly within minutes, even rise and fall as much $1000 is a common thing these days.
Bitcoin isn't a bubble, but if this condition continues, bitcoin may not be used as means of payment due to scale problems still unresolved.

Regulators stopped the US stock market trading in the Crypto Company (a tiny penny stock whose main asset is its name) after its shares jumped 2,000%, so that it briefly, and stunningly, joined the Fortune 500 with a value of $12bn. As extraordinary, when the Long Island Iced Tea Corp – yet to make a profit – announced that it was changing its name to Long Blockchain Corp, its shares jumped 500%.

Stock market traders always called bitcoin a bubble. I don't agree with it. The idea of bitcoin is good and it is not intended as a bubble. We know a few examples of how ruined the company? They, too, bubble? For such statements are nothing but attempts at information warfare against competitors. But I agree that right now bitcoin is far from ideal.

Humanity’s earliest, truly transformative general purpose technologies were the ability to cross-fertilise plants and cross-breed animals. Suddenly, it made more sense to farm than to hunt and gather. The surge in agricultural output meant humans could do other things than worry about survival; they could live in cities. Human civilisation began.

The story of the subsequent millennia has been how some 30 general-purpose technologies of equal power, ranging from the printing press to the steam engine, have driven similar leaps in transforming our economy, our lives and our civilisation. Today, we are living through another.



Digitisation is, if anything, even more powerful: it is a meta general-purpose technology. No area of human activity will be left untouched by the translation of the physical into digital data. Already, it has created astonishing new capacities: the chances are that you are reading this on a smartphone or tablet. But the adventure is only just beginning. Everything – from banking to health – is about to experience similar transformations.

Last week, the growing impact of blockchain and the price of one of the crypto-currencies it underwrites – bitcoin – hit the front pages. Regulators stopped the US stock market trading in the Crypto Company (a tiny penny stock whose main asset is its name) after its shares jumped 2,000%, so that it briefly, and stunningly, joined the Fortune 500 with a value of $12bn. As extraordinary, when the Long Island Iced Tea Corp – yet to make a profit – announced that it was changing its name to Long Blockchain Corp, its shares jumped 500%. The price of bitcoin itself – $1,000 at the start of the year – briefly hit $19,000 per “coin” last week before falling to $11,000 and then recovering to $14,000 yesterday. A crazy wildness, emulating every financial bubble in history, has settled on US investors.