Bitcoin Bubble Yes / No - page 2. | Bitcointalksearch.org

FrueGreads

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Quote from: bitgolden on November 01, 2017, 03:34:26 AM

Quote from: TrumpD on October 27, 2017, 11:32:20 PM

People often criticize what they do not understand. Is bitcoin a bubble? I would say no, because there is an actual product that is deemed valuable, albeit, by the minority. No amount of calling it names, regulation etc will stop the upward trend, at least for now.

This is one man that never believed in technology anyway and has always preferred the traditional way.
Personally, I would not even want any of these guys to join the train anytime soon, so we can end up giving it to them at a much higher value once they realized it is not a bubble after all. I am not surprised they will keep trying their best to attack it and call it names, but I guess we just leave time to tell the rest of the story.

I'm not even sure I would like these guys to enter bitcoin at all. Just as CME Group announces Futures Trading of bitcoin, it's price skyrockets and we just keep seeing new ATHs. It is official now, the Wall Strees guys will enter the market. This will be great to the increase of price of bitcoin, since more and more fiat will enter into the crypto market, but these guys are here to make money, and not to use bitcoin. For better or for worse this is happening, let's see how BTC handles this.

bitgolden

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Quote from: TrumpD on October 27, 2017, 11:32:20 PM

People often criticize what they do not understand. Is bitcoin a bubble? I would say no, because there is an actual product that is deemed valuable, albeit, by the minority. No amount of calling it names, regulation etc will stop the upward trend, at least for now.

This is one man that never believed in technology anyway and has always preferred the traditional way.
Personally, I would not even want any of these guys to join the train anytime soon, so we can end up giving it to them at a much higher value once they realized it is not a bubble after all. I am not surprised they will keep trying their best to attack it and call it names, but I guess we just leave time to tell the rest of the story.

tee-rex

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Quote from: FrueGreads on October 31, 2017, 07:30:41 AM

Those who say bitcoin is a bubble clearly don't understand it. If you just look at the price without understanding the true value of bitcoin, then of course you will think it's a bubble. If we look at it's price charts, they definitely look like charts from a bubble market. Recently just adding the name blockchain to it's company name, it's enough reason for that company's shares to rise, and that is bubble behavior as well, and it reassembles to the dotcom mania.

And what, to you, is the true value of bitcoin? People ride it to make more money off it. They don't particularly care if it gets used as a currency or not. Even though such use would surely add to its popularity and through this to its price. If you think that it is the currency aspect of it, you'd better look at other coins then which are a lot more advanced specifically as currencies. For example, many altcoins aim at providing instantly fast and cheap transactions, which is sort of must-have for a currency nowadays.

Bitcoin, on the other hand, is like a dinosaur if we compare it to these coins.

BitcoinCommodor

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Quote from: IamHigh on October 29, 2017, 06:45:15 PM

Quote from: BillCoin on October 29, 2017, 06:44:03 PM

Bitcoin is not a bubble because it's major adoption just gets bigger then time flies.

I think it's a misleading statement to say that Japan is now accepting bitcoin as a legal tender, they recognize it as a sort of payment or as a currency, but the difference from the current state to a legal tender is pretty much big.

Legal tender means that you can pay with the currency(bitcoin in this case) in every store in the country(it has to accept it by law enforcement), it also says that the government must accept the currency from you to pay for taxes and other bills.

I totally agree with you on this topic. I don't care what Waren Buffet says and I don't believe he was saying the truth. He's probably making FUD and buying more bitcoins at the moment with cheap prices. That's how they make money.

It is not right I don’t agree with this. Who said this foolish thing, because I think these people do not see the people who are investing in bitcoin in such a large capacity and the market cap of bitcoin is increasing day by day. Bitcoin is the future currency of the world how can it be vanished in the air? It is not possible for anybody in the world to erase bitcoin from the page of the future because it is not only the currency but also a business.

Glorious04

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I think all currencies are bubbles. It depends on how you defined bubbles. Everything in this life is bubble. Physical money is also bubble. You have it today in big amount and because of carelessness you can lost it tomorrow. Everything puffed off. Nothing is permanent but bitcoin though they call it bubble, it still continue to grow a big bubble and still not puffing off. Thanks to this bubble.

1Referee

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Quote from: Lancusters on October 31, 2017, 06:51:01 AM

The idea of bitcoin is very good, but the users themselves are to blame for that turns him in a bubble.

Bitcoin till this day is still just a speculative investment option for a lot people here, and thus will its market mirror that, which basically means that some times the price is way overbought, and some times way oversold. People ride the volatility and adjust their mood based on that, and having the great potential of Bitcoin in mind, you can't exactly put the blame on people for that.

Quote from: Lancusters on October 31, 2017, 06:51:01 AM

As currency bitcoin is also not suitable because users are reluctant to part with their coins and try to protect them.

As I mentioned before, people see Bitcoin largely as a speculative investment option, and a damn pretty good one. People don't want to spend their $1000 Bitcoin to see that almost one year later, that Bitcoin has increased to a value of $6000. I can't blame them for that, because honestly speaking, that's not exactly giving me any incentive to spend again.

Quote from: Lancusters on October 31, 2017, 06:51:01 AM

The price is very high for small transactions also does not develop bitcoin as a currency.

I think that Lightning Network will offer people a far better form of usability when it comes to the currency aspect, but we will likely always have to deal with the volatility, which on its own, will always form an obstacle to use Bitcoin as solid currency.

sclmte

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I dont think bitcoin is a bubble. A Bubble dont just pop. Despite from the fact that it has its own volatility but it doesnt end there. Bitcoin will continue to grow and will be strong in the upcoming years. We just need to support and believe in bitcoin.

Theb

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What you have said about Bitcoin being a legal tender is not true it does not mean that Japan and the Philippines are accepting Bitcoin automatically counts as a legal tender, yes they are accepted but it cannot replace the position of the country's own respective fiat currencies in legal terms negotiable instruments should be paid in the country's recognized fiat currency. Bitcoin is a bubble and there is no doubt about it. One good reason why it is a bubble is that Bitcoin does not have any fair market value we don't even know if Bitcoin is fairly price or not.

terrenceschroeder

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I am a fan of Deeponion

No i don't think Bitcoin is bubble , cause when the supplies are limited and the needs is increasing day by day. So following to the logics. The Price of Bitcoin will raise .

saymynem

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Like any asset that holds value, bitcoin can, has, and will be involved in bubbles, because it's value today is derived from the expected value of value in the future, which is uncertain and therefore responds to changes in beliefs. Sometimes those changes can be very large and happen very quickly.

So CAN bitcoin be a bubble? Of course. IS bitcoin a bubble? Of course not. It was always have some value going forward. Is it a bubble RIGHT NOW? I don't know, but I don't think so. It's volatility doesn't shock me. I expect that in the near future, bitcoin could very well be worth less than it is now and in the longer term future, I expect bitcoin to be worth more than it is now.

batang_bitcoin

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Bitcoin is not a bubble, before when I'm not oriented about the bitcoin ecosystem and economy of a country I really don't know what bitcoin is. But after studying some sort of time and figuring out what bitcoin is. We all can say that it is just the product of the law of supply and demand. Bitcoin has been on the trend for this year and that's why it's demand is getting higher so the price is.

Zadicar

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Quote from: BillCoin on October 29, 2017, 06:44:03 PM

Bitcoin is not a bubble because it's major adoption just gets bigger then time flies.

I think it's a misleading statement to say that Japan is now accepting bitcoin as a legal tender, they recognize it as a sort of payment or as a currency, but the difference from the current state to a legal tender is pretty much big.

Legal tender means that you can pay with the currency(bitcoin in this case) in every store in the country(it has to accept it by law enforcement), it also says that the government must accept the currency from you to pay for taxes and other bills.

Legal tender shouldnt really be used on this one because if we do talk legal tender then it is somehow already replacing its own fiat currency which isnt really happening on the current situation of Japan.They did only accept and adopt bitcoin as an alternative new way payment system but not totally replacing their own fiat. Bitcoin isnt a bubble it might crash but not today for sure. Cool

ArtPt

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Bitcoin is not bubble, if you expect it will be the most powerful real word payment system. There are only 21M bitcoins in total, so the total capitalisation is depending only on cost of token. And ahe current cap of $100B is still relatively small in % to fiat currencies.

FrueGreads

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Those who say bitcoin is a bubble clearly don't understand it. If you just look at the price without understanding the true value of bitcoin, then of course you will think it's a bubble. If we look at it's price charts, they definitely look like charts from a bubble market. Recently just adding the name blockchain to it's company name, it's enough reason for that company's shares to rise, and that is bubble behavior as well, and it reassembles to the dotcom mania.

To be honest this worries me a bit. I don't think bitcoin is a bubble, but I'm worried because I'm sure that there are a lot of investors entering the market because they see bitcoin as a bubble and as a way to make money. If they don't believe in BTC true value and use, then they will eventually cash out for profit and that could hurt BTC.

Willitivity

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Currently, Bitcoin is receiving so much attention than what it used to be in the past few years.
So many people are now turning to Bitcoin.
So, it's not a bubble.

Lancusters

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Quote from: talkbitcoin on October 31, 2017, 06:23:02 AM

bitcoin is not a bubble.

but it has a lot of bubbles that burst and correct in time. the thing is, we should look at bubbles in bitcoin in a different way. they are not always a huge thing that needs to burst and drop to an extremely low price. a bubble can be small too and the correction of it also will be small.

people who talk about bitcoin bubbles, always forget the big drops that bitcoin had so far. they are right there on the charts! each big dip which looks like a valley.

You are too optimistic. If you use the logic that bitcoin is very similar to bubble. The idea of bitcoin is very good, but the users themselves are to blame for that turns him in a bubble. As an investment bitcoin is not intended now. he is growing too fast in price. Business needs cheap and long money. As currency bitcoin is also not suitable because users are reluctant to part with their coins and try to protect them. The price is very high for small transactions also does not develop bitcoin as a currency.

talkbitcoin

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All I know is that I know nothing.

bitcoin is not a bubble.

but it has a lot of bubbles that burst and correct in time. the thing is, we should look at bubbles in bitcoin in a different way. they are not always a huge thing that needs to burst and drop to an extremely low price. a bubble can be small too and the correction of it also will be small.

people who talk about bitcoin bubbles, always forget the big drops that bitcoin had so far. they are right there on the charts! each big dip which looks like a valley.

Aamir1

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Whether it is a bubble or not, but people use it and they love it. It brings happiness to people in the form of profits over the time, and that is what matters for everyone including me. I don't know if Bitcoin will always stay or not, but i know that as long as it is there, i won't stop using it because it's giving me a reason to be happy in my life. I have never earned any money in my life before Bitcoin, and today, i have money, much money, that i never dreamed of having at this age, and i'm thankful to Bitcoin for that. I don't care for what people say, i just care for what i feel and what i believe, and i don't believe it is a Bubble.

tee-rex

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Quote from: tobs on October 31, 2017, 02:52:30 AM

The question is rather simple. Do people use bitcoin that frequently and in that many places that it should be worth almost $6000 per coin? I mean, I don't see many shops, restaurants or general services and places accepting bitcoin widely. I don't even see many people buying things with bitcoin. The demand is high not because everyone wants to use it and needs it in their everyday lives. The demand is high, because everyone expects the price to grow. And why would the price grow if bitcoin is not being used? Everyone just buys more and more and stores it in their wallet. It supposed to be a currency, something usable in our everyday lives. Bitcoin is worth these $6000 not because it's so great and used by everyone, but only because people believe it will give them profits. It's pure speculation, no actual usage.

You seem to have put everything right, and I have to mostly agree with you. Nevertheless, there are still a few other points which are worth raising. For example, it could be said that bitcoin is still an early bird, and its current speculative growth is something which is sort of unavoidable. Maybe, it will correct heavily due to speculation going down one day, but it is still a pretty decent payment system, and when bitcoin gets despeculated at the end of the day with its price stabilizing, it may take up as a genuine currency finally.

Besides, for most people there are no other options currently available where they could invest their hard earned money in. Bank deposit rates are ridiculous while fiat currencies are depreciating constantly. And bitcoin may come in quite handy as a sort of safe haven to these people.

tobs

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The question is rather simple. Do people use bitcoin that frequently and in that many places that it should be worth almost $6000 per coin? I mean, I don't see many shops, restaurants or general services and places accepting bitcoin widely. I don't even see many people buying things with bitcoin. The demand is high not because everyone wants to use it and needs it in their everyday lives. The demand is high, because everyone expects the price to grow. And why would the price grow if bitcoin is not being used? Everyone just buys more and more and stores it in their wallet. It supposed to be a currency, something usable in our everyday lives. Bitcoin is worth these $6000 not because it's so great and used by everyone, but only because people believe it will give them profits. It's pure speculation, no actual usage.

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