Topic: "Bubbles" Made Bitcoin Stronger - page 3. (Read 734 times)
What really is a humorous picture of those shit talkers. I never thought bitcoin was a bubble and all traders think so.
Bitcoin proves itself that it will never become a bubbles as what it shows today. Even before, many are saying that it will never survive, but why is it that more rich people today because of bitcoin? and that is the proof of its reliable existence in the cryptocurrency world that it will never vanish like a bubbles.
I don't totally agree that bitcoin is bubble, But I believe its more of a "commodity currency", the demand is so high because people love to use it, fast and efficient. Bitcoin cost thousands of dollars to mine, thats why its not a pyramid scam or so. It is community driven that's why the price is soo volatile that make it unstoppable, because whether we like it or not its the future of payments.
What OP is referring to here is not pertaining to bitcoin as a whole, but bitcoin's price when it was still manipulated by Chinese before 2016 pump and the crashes that have happened at that time, and the most famous one is mt.Gox crash. It in fact made bitcoin stronger and more resilient, I think without those bitcoin wont be what it is today. The only questions is that if those days are over or not? I believe that price of btc itself now can possibly be a bubble, price is high for now I think.I don't think that the price manipulations of bitcoin will be over, but it less likely today because there's a lot of entities now as compare before were the Chinese can easily fake the volumes of trading resulting to bitcoin overvalued. But for each every bubble that has been burst, bitcoin rebounded and even makes it stronger as the OP has stated. If the price of bitcoin now is a bubble then it could possible burst, but I don't think it will crash that hard again unless someone really try to manipulate it by spreading FUD. But then again, bitcoin resiliency will bail him out again just in time for another bubble to form. IMHO.
I don't totally agree that bitcoin is bubble, But I believe its more of a "commodity currency", the demand is so high because people love to use it, fast and efficient. Bitcoin cost thousands of dollars to mine, thats why its not a pyramid scam or so. It is community driven that's why the price is soo volatile that make it unstoppable, because whether we like it or not its the future of payments.
What OP is referring to here is not pertaining to bitcoin as a whole, but bitcoin's price when it was still manipulated by Chinese before 2016 pump and the crashes that have happened at that time, and the most famous one is mt.Gox crash. It in fact made bitcoin stronger and more resilient, I think without those bitcoin wont be what it is today. The only questions is that if those days are over or not? I believe that price of btc itself now can possibly be a bubble, price is high for now I think. 
I don't totally agree that bitcoin is bubble, But I believe its more of a "commodity currency", the demand is so high because people love to use it, fast and efficient. Bitcoin cost thousands of dollars to mine, thats why its not a pyramid scam or so. It is community driven that's why the price is soo volatile that make it unstoppable, because whether we like it or not its the future of payments.
That's an interesting perspective, OP.
I wish it were possible to know what bitcoin's price would be if no one had ever called it a bubble. Versus what it is, today.
Perhaps people have lost faith in financial and economic systems to a point where they no longer take it seriously when media spokespersons say things. There's a possibility predictions about bitcoin being a bubble only show systemic corruption and bias against independent movements against bitcoin, which may be transparent enough to drive its price higher as you say.
I wish it were possible to know what bitcoin's price would be if no one had ever called it a bubble. Versus what it is, today.
Perhaps people have lost faith in financial and economic systems to a point where they no longer take it seriously when media spokespersons say things. There's a possibility predictions about bitcoin being a bubble only show systemic corruption and bias against independent movements against bitcoin, which may be transparent enough to drive its price higher as you say.
Its true that bubbles have made bitcoin stronger as every time immediately after the crash,bitcoin has raised up to new heights and its price getting settled in a price more than its previous price.
For example during every hard forks,bitcoin price has fallen down much especially during BU creation and immediately,its price recovered.
Now people have gained much trust over bitcoin as every time after crashes,it has recovered reaching big heights.
For example during every hard forks,bitcoin price has fallen down much especially during BU creation and immediately,its price recovered.
Now people have gained much trust over bitcoin as every time after crashes,it has recovered reaching big heights.
Bubbles made bitcoin stronger,because they made all the bitcoin users and holders to believe that bitcoin will recover after every price crash.2 years ago,i didn`t have that trust in bitcoin and i was afraid of holding btc for a long term.Now,after all the price crashes and recovering,i want to hold all my btc as long as possible.
More HODLers means more stability for the btc price against panic selling.
More HODLers means more stability for the btc price against panic selling.
Well, all these past bubbles have done is prove to people that even after a crash, Bitcoin still has the backing and trust to move back upwards.
The most important bubble was the one after Mt. Gox went down, Bitcoin's value completely crashed and it stayed that way for a couple of months, even more than a year, if I remember correctly.
Prices were constantly hovering around 300 dollars, the huge volatility was also pretty much non-existent for a while.
People who saw that and the subsequent price increase after that must have gained a substantial amount of trust for Bitcoin after that ordeal.
The crashes we've seen this year are peanuts, they barely last a couple of days and are followed by new ATH's.
The most important bubble was the one after Mt. Gox went down, Bitcoin's value completely crashed and it stayed that way for a couple of months, even more than a year, if I remember correctly.
Prices were constantly hovering around 300 dollars, the huge volatility was also pretty much non-existent for a while.
People who saw that and the subsequent price increase after that must have gained a substantial amount of trust for Bitcoin after that ordeal.
The crashes we've seen this year are peanuts, they barely last a couple of days and are followed by new ATH's.
This is in the light of its high volatility, instability and quick money making. The bubble in bitcoin gives it its hype and this is why people tend to invest on it and hold because they are almost certain it will increase in value with time in the future.
I have been to Bitcoin for the past two years already and though I only have little amount of it which I saved in an online wallet service provider, I can say that I learned a lot of its ins and outs. While some experts were then claiming that Bitcoin will eventually pop as it can never sustained continuous growth, Bitcoin still defying all odds and is charting right now for more upward movement.
Bitcoin has proven to be a big moneymaker for people who invested their money at the right time or those times that Bitcoin experienced some 'crashes' or dips. And this is the big difference between Bitcoin and other investment vehicle as a 'crash' in Bitcoin can also mean a big opportunity to buy more at a cheaper rate. I would venture to say that Bitcoin have been to many bubbles already but instead of it getting killed it those crashed served as an opportunity to rise up again and again just like the legendary Phoenix.
As the saying goes: What does not kill you can make you stronger and wiser! The same thing can be said on Bitcoin. However, let's give those people who still insist that Bitcoin will soon die a painful and excruciating death the benefits of the doubt they always want. We are still in democracy, aren't we?
Jump to: