Topic: Bitcoin is not a bubble - page 3. (Read 2853 times)

Well they called it a bubble when it went up to 3k$ and above but it has never stopped or burst yet and you guys just keeping calling it a bubble, i hope you will not be left of out of the global bitcoin cake due to your skepticism as bitcoin surges on forward.

Well I do think bitcoin is the kind of bubble where you cannot fully make it vanish..it will self..inflate and after a while it will be bigger and stronger...
Bubble just describes the enormous high and downs that we see. .. and I do think that... It is right in calling bitcoins a bubble...
Suddenly the price drops down... In thousands of dollars... And genuinely it is enough to be considered as a bubble is what I feel.

Seems that it is a long process. If it will happen, transection, buying selling and marketing will also be very easy. But in this case, government is not much interested to make Bitcoin as a legal currency. If government announce it as legal crypto, our dreams will get successful very early.

bitcoin isnt a bubble, but some people are stating its acting more looking like a subprime bubble.

Nope. the ATH of 1000 was a temporal bubble (in 10 years we'll be past 10K).

When something is revolutionary people need a big time to properly value it, so the price is crazy. Look at how the all time high used to look like:



In a couple of years the 1K peak will look like a small bump on the all time graphic.

Yes it has already burst but still the price is still stable for now and bitcoin may have a chance to be rise again but this time hopefully it will fly high to the sky and hope it wont burst again   

This is tough to agree with considering what's happened to the price of Bitcoin over the past 15 or 16 months. It may have been a bubble then, but that bubble burst already. It definately can't be called a bubble now.

Its absolutely not usefull to use bitcoin for most people and shops.
I posted elsewhere a complete list why.

Everyone i know and their friends and family see bitcoin/crypto as a criminal tool and stay far away from it.
There is so much crap and scamming going on in the crypto world that you can not even find positive news if you wanted it.
Believe me i lost a lot of friends because i am in involved with the crypto industry to make a small profit.

And i disagree fully on the old argument that more is payed in dollars crime related ( because you have no clue how much is used ) , lets make one thing clear bitcoin became also a succes because of the silkroad and other drug related tradings which was being done together with mtgox.
I already have dropped a trader who claimed he sold drugs with bitcoins, this person used tormail and other tor related stuff to hide his identity.
Even the accounts he used from a bank turned out to be from a person who died many years ago (identity theft)
This kinda criminals are very hard to get for law enforcement, because they do use puppets who act in their behalve.
Most of them drug addicts who get a score from the guy who hired them, ofcourse not the real criminal who never shows his face.

Second alot of media already stated that the coins are being used by IS like organisations so i think there must be some incidents where proof has been produced.

So how can you convince people its not as tainted.
Another reason is its too slow if i use my bankcard i can pay here and now instant less than a second at most 25 seconds. Everywhere and anywhere.
How you wanna do that with bitcoin ?!?? and i do not even start about to get the bitcoin in the first place.
 

Why do you think governments should provide any special legal backing to bitcoin, and what do you actually mean by this? The best thing for bitcoin that governments could ultimately do is to make it into a legal tender, but I don't think it will happen any time soon, if ever...

The difference between Bitcoin and Facebook is that anyone knows who the owner of Facebook is, but no one knows who started the Bitcoin revolution.

Last time I checked, websites like e-gold.com and LibertyReserve.com had anonymous owners behind them and they failed.

The price of Bitcoin has dropped massively whilst the USD has strengthen itself against the Euro and worldwide as well.
Yes, people prefer security.

Does it mean Facebook would have a more robust future ahead whilst Bitcoin would constantly become failure? No one knows.
But my personal guess is that the sooner the Fed will raise rates the worse the value of the Bitcoin is going to be because people would prefer solid money with interest rates on top as a bonus.

Author of that article is just ultra pessimistic about Bitcoin. He said that bitcoin is only viewed positively by 'bitcoin community. And the believe that bitcoin technology is disruptive. "The Bitcoin community has remained faithful that this 'disruptive technology' will someday achieve mass adoption."  He wrote that: "Bitcoin seems to have a knack for surviving bad news. It's been associated with criminals." And Fiats are not associates with criminals? Abandon all hope! Bitcoin is lost, for this guy there was no bitcoin incentives he could follow.

actually they should buy it because the price is low, there is no other best moment to buy, the problem is that is still too high for them, they are probably waiting for sub 100

There are plenty of people who start with buying once they see the price is getting up, but the risk there is that you buy in at the wrong moment. (too high)

Which means that there is always risk, buying Bitcoin at the moment of panic is the best option if you want to make good profit.

Another reason why people aren't buying coins right now is because of its low price. Let's admit it, not every person in this world is willing to take the risk on buying an asset that has a low assurance of making them money. Not all of the people are risk-takers; most of the people tend to follow a path led by successful figures. Remember what happened during Nov. 2013 ATH? The upward price surge isn't only caused by the bots and China, it is also caused by the hype of making some money in bitcoins.

Yes, a growing number of people use Bitcoin as an alternative to shady fiat paper. Over time, the user-base will keep growing since people will see value in Bitcoin's huge advantages. For me (and a % of others), having the freedom to use an alternative is important.

I know at least one guy that dont agree with you: https://www.youtube.com/watch?v=A7TuFy0fcuw

You can tell that they want to regulate Bitcoin, some countries are seeing who can get much money without impediments they have with traditional money. I think it's a matter of time before a government is the first to do something.

As long as the Bitcoin market price remains at a constant level, it will make a positive impression on the investors mind. So I think bitcoin needs to hold a steady price and it will gain more crowd eventually.

Maybe it already burst last year. 
It will take a long time before we see $1000+ bitcoin prices again.

I think one thing that's going to have to change is the vaunted anonymity associated with a Bitcoin wallet address. As it stands today, it's like having a massive number of Post Office boxes, with no names attached. The only information associated with a transaction is the source and destination wallet address. It would be like me putting a $50 bill into an envelope, with only my PO Box as the return address, and sending it to another PO Box. It's got all the benefit of cash in that regard. That's exactly why hardly anybody uses cash except for things they walk away with in person. And they want a receipt to deonstrate they paid, in case they want to return it. I am not aware of any significant side transactions that happen with cash, it's all something else, usually with lots of identity info attached.

While there is huge amounts of work to prevent "counterfeiting", and overspending, there's still a lot of trust required to do anything with Bitcoin. Just look at the use of Escrow, and "trust ratings".