Topic: BTC is like a subprime bubble - page 2. (Read 1832 times)

APPLES = ORANGES

AIRPLANES = FUDGE BARS


I still can't understand why, despite there being 10000000 legitimate, logical, coherent reasons and arguments why bitcoin might fail, these guys choose to make ridiculously flawed comparisons, without any logic whatsoever. It's as if they want to tell the world "I'm an idiot".

USD = PRIME

BTC = SUBPRIME

so far, bitcoin is useless for me, but I think it eventually would be useful

You may be right, but it surely wasn't subprime

Bitcoin is not like the subprime bubble. It is more akin to a third world currency that has high volatility.

The problem with the subprime mortgage crisis is that the structure of repackaging large lots of mortgages into complex derivatives had little underlying value because the increase in issuing risky mortgages inherently meant they had less value than suggested. Simple math would have shown that many of the loans would be defaulted on, and the value would evaporate. It was a disaster all the way up.

Bitcoin however, derives value directly from the market being backed by a monetary value, and supply and demand. Yes we have seen steady decline from our $1200 peak, but the type of implosion of subprime was in a matter of weeks or months and completely destroyed companies as the value evaporated.

The question is not whether Bitcoin is a bubble or not, it is how do we derive Bitcoin's value and is that justifiable. Currently it is more a speculative insturment like small currencies, or commodities, so it's completely in the hands of traders. In order for Bitcoin to avoid volatility it will need to increase market cap so that 1 million dollar orders can't dump the market. Until then it's easily manipulated.

However, look at the Euro it's seem a major decrease in value because of QE and it's a major world currency, does this mean the Euro is a bubble or the inflationary economic models of existing systems are riddled with problems. The one thing Bitcoin does have as an advantage over other currencies, is it's like gold it can only be found so fast, and there is only so much of it.

I agree "The bubble will burst sooner or later"

but doubt whether is bitcoin bubble?

Jesus christ. Yeah let's ignore everything that makes Bitcoin unprecedented and let's compare it to some shitty financial product.
You guys need to get better with your shit tier FUD.

oh yeah USA government pumped money to save those companies.
BTC? who is going to save us? Satoshi?  probably not lol

Last I checked, there are no bogus credit ratings or loss-socializing regulations that hide Bitcoin's risk. It floats freely on the market.

Someone's bitter about buying high.

People can't even tell the truth to warn newbies DO NOT BUY BTC now? only perma-bull please begging buy my ponzi moon bags shits talk allowed?

Bitcoin is sinking down to $0, stay away from it or get financial ruin! if you have to invest then invest something else.

Any one suggest you to buy now is selling ponzi to you.

You won't want any btc then.

Which begs the question, 'why are you posting on a bitcoin enthusiast forum?'

The bubble will burst sooner or later, at some point nobody will want BTC.

subprime mortgage loans seemed to be safe at that time,
if they can't pay back, banks will just sell their home
that's why banks gave loans to virtually everyone. But you know what happened in 2008.

BTC is backed by very weak concept mining,
mining itself isn't strong enough to justify current BTC price.
 

BTC, only early adoptors were rewarded, and they are the ones creating bubbles,
they don't care what happens to you, they already cashed enough money,
so what they can do is sustain their position by creating bigger bubble.