Topic: [2018-01-23] Bitcoin Price Bubble Could Last 100 Years, Says Yale Economist (Read 111 times)
January 24, 2018, 07:24:33 AM
I highly doubt it will still remain to be a bubble given the fact that he is surmising it can last for the next 100 years. I mean, the fact that it can last more than the average lifetime of mankind is already an achievement itself, much more to reach beyond it. Based in his line of argument, then I can say I would still invest in Bitcoin because it is projected to maintain and even surpass the value that it has today. I cannot say if he is trying to be instrumental about this global concern but I think he is placed in an extreme uncertainty thus his statements that are neither pro nor anti.
January 24, 2018, 07:14:25 AM
I don't really understand what he is trying to say. How could a bubble last 100 years. If something lasts for that long, how can it be a bubble? On worse case scenario it would be something that was working well and eventually failed. Some companies don't last that long, so is he saying that almost all investments and companies could be considered bubbles? If so, our entire economy is a bubble, and that's probably what he is saying. Either he is saying this or not, he is actually validating bitcoin, in my opinion. We can't really be sure about anything, and from that point of view, anything could be a bubble, but it's still worth the investment.
January 23, 2018, 11:00:06 PM
This professor of economics said that he does not know what to do with bitcoin: he can collapse soon and be forgotten, or can still exist in a hundred years. On this question about the fate of bitcoin, no one really can give an exact answer. Simply crypto currency - this phenomenon in our lives is new and in the practice of mankind has not yet been. In addition, no one really knows the nature of the crypto currency and can not say: the manifestation of a financial bubble is inherent in the crypto currency, in which it will still work for a long time or not? However, it seems that the general laws of the economy should apply to the crypto currency. The crypto currency has many more secrets and mysteries.
January 23, 2018, 07:59:16 PM
How would it be a bubble if it lasts 100 years? A bubble means buying a security because of speculation that value of the security will increase in future, without any intrinsic value. But what is of more importance is subjective value, that is how much worth we attach to it. TBH gold has no real uses either but it's scarce and valuable. If BTC is around for a 100 years it will be too. Because older the currency, trusted it becomes less chances of bubble 'bursting'.
Also, if the bubble can last 100 years, would that mean the people will have more confidence in bitcoin making the bubble last 500 years more?
Serious question. Anything can happen, I reckon.
January 23, 2018, 04:41:11 PM
How would it be a bubble if it lasts 100 years? A bubble means buying a security because of speculation that value of the security will increase in future, without any intrinsic value. But what is of more importance is subjective value, that is how much worth we attach to it. TBH gold has no real uses either but it's scarce and valuable. If BTC is around for a 100 years it will be too. Because older the currency, trusted it becomes less chances of bubble 'bursting'.
Well, I also do not understand how the bubble can last 100 years. This case is going to be the first in the history even if it really happen! 10 years had passed already so 90 years more, my life is secured
January 23, 2018, 04:23:55 PM
These should smart people should stop talking about bitcoin.
I suppose though if they are asked questions about bitcoin
it's difficult to say 'honestly I don't have any idea about the
future of bitcoin'
No one can say, it's all about adoption and about more people
getting into crypto and using it.
I really hope it lasts 100 years.
I suppose though if they are asked questions about bitcoin
it's difficult to say 'honestly I don't have any idea about the
future of bitcoin'
No one can say, it's all about adoption and about more people
getting into crypto and using it.
I really hope it lasts 100 years.
January 23, 2018, 04:17:06 PM
Bitcoin bubble could last 100 years? That would be an epic achievement. All non crypto ballers were of believe that Bitcoin was a bubble even at sub $1000 levels, so it theoretically makes sense.
Regardless of how much progress we book with Bitcoin, there will always be people talking about Bitcoin being a massive bubble and whatnot, and that will stretch out till we reach $100,000 and far beyond.
I am perfectly fine with that as long as Bitcoin keeps marching forward. The higher the price rockets up, the larger this bubble will grow, and the more bitter these no-coiners will become. I can't wait for that to happen.
Regardless of how much progress we book with Bitcoin, there will always be people talking about Bitcoin being a massive bubble and whatnot, and that will stretch out till we reach $100,000 and far beyond.
I am perfectly fine with that as long as Bitcoin keeps marching forward. The higher the price rockets up, the larger this bubble will grow, and the more bitter these no-coiners will become. I can't wait for that to happen.
January 23, 2018, 04:15:52 PM
What a bubble. If it's going to take 100 years to pop, then yea I agree Bitcoin and the technology behind it will be mainstream here shortly.
January 23, 2018, 03:50:34 PM
How would it be a bubble if it lasts 100 years? A bubble means buying a security because of speculation that value of the security will increase in future, without any intrinsic value. But what is of more importance is subjective value, that is how much worth we attach to it. TBH gold has no real uses either but it's scarce and valuable. If BTC is around for a 100 years it will be too. Because older the currency, trusted it becomes less chances of bubble 'bursting'.
Exactly! A bubble that lasts 100 years is not a bubble! We could as well say that the whole world economy is a bubble because it's growing and it may take another 100 years before it faces a global crisis.
I agree that BTC has gone through bubble stages before of which the most well known was that of December 2013, but it's constant growth over the years is completely normal. If an asset gains 700% in a month, we can expect a bubble, but cryptocurrencies are growing by 200-300% and that's a fact. They will continue to do so until we at least have 5% of the global financial market. It's really not much to ask from something as revolutionary as independent, decentralized, electronic currencies.
January 23, 2018, 02:00:47 PM
How would it be a bubble if it lasts 100 years? A bubble means buying a security because of speculation that value of the security will increase in future, without any intrinsic value. But what is of more importance is subjective value, that is how much worth we attach to it. TBH gold has no real uses either but it's scarce and valuable. If BTC is around for a 100 years it will be too. Because older the currency, trusted it becomes less chances of bubble 'bursting'.
January 22, 2018, 09:15:32 PM
This is the best example of smart people dumbfounded by a new kind of technology, and it takes them intellectually out of their comfort zone.
Reading his quoted statements, I have the impression that he does not want to look stupid and he also wants to look smart at the same time. His safest answer? It is a 100 year bubble hehehehe.
When it comes to the future of cryptocurrencies, even Nobel Laureate, Ivy League professors aren't quite sure what to say.
According to a report by Coin Telegraph, Yale University economics professor and Nobel Prize recipient Robert Shiller admitted that he "doesn't know what to make of bitcoin, ultimately." Previously, Shiller had pointed to the top digital currency by market capitalization as "the best example of a bubble."
Shiller spoke about his uncertainty in a recent interview, suggesting that "[bitcoin] might totally collapse and be forgotten, and I think that's a good likely outcome, but it could linger on for a good long time, it could be here in 100 years."[/i]
Read the article in full https://www.investopedia.com/news/yale-economist-believes-bitcoin-bubble-could-last-100-years/
Reading his quoted statements, I have the impression that he does not want to look stupid and he also wants to look smart at the same time. His safest answer? It is a 100 year bubble hehehehe.
When it comes to the future of cryptocurrencies, even Nobel Laureate, Ivy League professors aren't quite sure what to say.
According to a report by Coin Telegraph, Yale University economics professor and Nobel Prize recipient Robert Shiller admitted that he "doesn't know what to make of bitcoin, ultimately." Previously, Shiller had pointed to the top digital currency by market capitalization as "the best example of a bubble."
Shiller spoke about his uncertainty in a recent interview, suggesting that "[bitcoin] might totally collapse and be forgotten, and I think that's a good likely outcome, but it could linger on for a good long time, it could be here in 100 years."[/i]
Read the article in full https://www.investopedia.com/news/yale-economist-believes-bitcoin-bubble-could-last-100-years/
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