Topic: Are we in a Bitcoin Bubble (Read 500 times)

Do you have proof of that? It's quite the contrary, last year you could pay in 3 of the top 500 ecommerce stores, this year it went down to just 1. No retailer likes this kind of volatility, the costs and the slowness. And how do you even accept a payment in a physical store if you have to wait hours to see if it even really went through ? Do you prohibit your client to walk out the stores for 5 hours ? LOL

Also experiments like the one in Arnhem, The Netherlands, where 110 retailers accepted bitcoin payments have failed because of slowness and extreme costs and the stores are now not accepting bitcoin anymore. None of them.

Bitcoin in its current state is a joke, not suitable for payment at all. And lightning network is even a bigger joke, the guy who invented that must have been really high on some good marihuana.

That's right. Today the society is spread on two part, one believe in bitcoin and have all their proves that bitcoin is not the bubble, but there are those who are sure in the future exploding of bitcoin and all crypto market. I am in the first group. Bitcoin is coming in to our life, more and more places accept bitcoin and other crypto. Today there are more than 11000 spots over the world which accept it. There are firms which pay salaries or part of it in crypto currencies. With such facts bitcoin just can't be a bubble, but yes, I am agree with those who say that it is speculative instrument.

Why call it a bubble? The price is determined by market, supply and demand, and the value is as high as users are willing to pay for it at that moment.
Despite all conspiracy theories I would say that bitcoin price is still rather independent and doesn't have some intentional influence by some interest groups. Let's hope for even higher price, that will us all do a good thing.

The demand for bitcoin keep increasing day in day out and it has been a universal laws that whatever go up must come down and that is the laws of gravity! The current corrections is a sign that bitcoin is obeying universal laws and I keep on tell people to stop calling bitcoin a bubble and focus on the realities.

Bitcoin are not like the other thinking, it was growth in their own ways. It was fall down their price but it doesn't mean that bitcoin are going into deep for long time.

Maybe sometimes they were experience some scenario's but they can't stop making a lot of solution. Other than that they make a lot of improvement this 2018 so I guess more capitalist are attracted to fund bitcoin in the future.

We are in an altcoin bubble right now. Not that I think altcoins will crash, but Bitcoin's % of the market should rise back up into the 40s. Wouldn't be surprised to see the whole crypto market at like $1.2 trillion in March with Bitcoin at over $500 billion.

we obviously cant go up forever the top was 20k now a bumpy road and a slow drop

People always thinking that bitcoin will not go for long nor it will it makes us profitable at the start. But bitcoin still on the road of making people to trust and believe. As bitcoin continue it's journey, the more it become popular and more people getting involve in here. And now, it consider as one of the biggest investment were it changes a lot of individuals in terms of financials.

People fail to understand that. They don't have the ability to think beyond their own limited logic, so Bitcoin at any price is a bubble by default. In easy terms, Bitcoin has no value, and will never have value, so even at $100 it's a bubble that will soon burst. That pretty much explains why the mainstream media has been talking about a bubble pretty consistently throughout the years. If they ever get to a point where they actually start to understand Bitcoin, we're already at +$100k levels catching up on gold pretty quickly. At that point they will blame themselves for having underestimated Bitcoin all the years....

I think we are in a State of bubble bitcoin because bitcoin indirectly can suddenly by itself is experiencing very high growth then no wonder kjika bitcoin has air bubbles which also arrives and I notice that bitcoin is also the highest investment of all other investment until it can make them make changes in participates worldwide

I don't believe bitcoin is a bubble because people has been calling bitcoin a bubble for far too long since 2013. If bitcoin is a bubble so when is the bubble burst? Oh, come on, what do you expect people would be giving bitcoin so many different names to discourage people; such as ponzi, scam, pyramid, gambling and so on.

This doesn't mean to be a bubble, because with bitcoin price grows unexpectedly. This quite often gets termed to be a bubble by the users who doesn't have a bigger and better knowledge about bitcoin as well other digital currencies. In my view bitcoin is a growing asset which is to make a change in the world.

I think that Bitcoin can not be overestimated for a crypto currency user, But in fact, its price is really sky-high. The fact is that any project that has its own coin, fixes for it or a product or service, but at the same time Bitcoin has nothing at all. Even the etherium has its value more than Bitcoin. But it's really quite different.

Most of the bitcoin criticizers have continued saying that bitcoin is a bubble and it would burst.But its not a bubble.A bubble is a stock or an asset which has been overvalued much that what value it actually has.But bitcoin is not overvalued.Also,it is not just a piece of investment.It is mainly backed by the demand which it has since it is mostly used for trading purposes and also after lightning network gets activated,it would also be used more as a currency.We could now see bitcoin price once again rising.

First off, the twitter link does not work. However, you should really think about this yourself.

Yes, bitcoin may be in a bubble. Who knows? However, if you have a look at the idea behind bitcoin and its core values, it will seem obvious that even if it does crash, its not going to be the end of bitcoin forever. It will take time and a lot of effort to destroy bitcoin.

However, the lightning network needs to be implemented asap because what is happening right now is horrendous.

Ask yourself: how many bitcoin payments are being done daily ? Where can I pay with bitcoin ? Just today in my country (netherlands) a big bitcoin test has been stopped. In the city of Arnhem more than 100 shops had joined to accept bitcoin payments  but only a few thousand EUR in BTC *per month* was paid by clients (nobody uses it). Besides that the transaction costs had become so extremely steep that they had to stop the test and the shops are now no longer offering BTC payments: https://nos.nl/artikel/2210648-arnhem-even-geen-bitcoinstad-meer-transacties-zijn-te-duur.html That's how well BTC works.

"But but Lightning network will save us", yeah right a system that only processes a route when users are online, where maximum payment in a route is determined by the smallest account in the route, where you still need to pay very high fees to open/close a payment channel and when you want to re-wire BTC into the channel, where fraud among 2 users in the same channel is possible and which will take 12-18 months anyway to complete, yeah that sounds like a great system, LOL.

And I'm not even talking about the insane amount of energy that's needed to keep the network up and that more and more countries are now actively fighting and banishing BTC.

So of course this is a $294 billion bubble which is going to pop. The million dollar question is not IF, but WHEN. For all I know it's going to hit $50.000 first or even more. But if you can't even see that this IS a bubble, I'd advise you to do something else with your money, because you'll lose it all one day.

LOL this is just crazy. If you have USD you're pretty sure you can buy an apple for roughly the same amount of USD next year as this year. You also know you can pay for that apple at any grocery (even international with your chip card). With BTC you just don't know, could be you could buy 1 apple, maybe 10 or maybe no apple at all and 99.9% of the grocery stores won't even accept BTC payment anyway.

They are repeating it after some of those old farts from Wall Street who made some decent deals before the first white paper was published.


Exactly. Some people seem to think they will buy cryptos, wait for profit, exit to fiat and it will all be fine at that point. No, it won't. You are exchanging independent, but scarcely accepted currency for another one that is still vulnerable, centralized, but widely accepted. You're exchanging one token into another, fiat is by no means better or safer. The main difference is that with crypto you are on your own. Nobody is making promises to you or holding your hand, giving you a false sense of security.

Cryptocurrency in general is a fairly new concept, I dont think this is a bubble.... I think this is just the beginning of crypto. I think that BTC and all other good coins will probably increase in value. The mass adoption have only just begun. So I have a hard time believing this is just a bubble. However I'm far from an expert so I really have no clue. But if I am right this is just the beginning of something huge, decentralized currency's that truly belong to those who own them.    

It is not a bubble and whole experts will see it in coming years when bitcoin will grow and still offer the same things like now and even more.

I hope it's not a bubble. The people who say it's bubble are wrong but that people who says it's a future are wrong too. It's a beginning of something new but that never would become an everyday thing.