There are many times when the statement that bubbles exist in bitcoin is exaggerated by the media. People always think that bitcoin has many shortcomings and often ignores the advantages of bitcoin.
Topic: Is Bitcoin the Biggest Bubble in Human History? - page 15. (Read 4065 times)
The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
I do not agree with your point. The price of bitcoin increase is due to market demand. It is currently the common cryptocurrency of the whole world. Surely bitcoin is not a bubble
At least for now, I don't think bitcoin has too big a bubble. It is reasonable that 7K is cheaper than that of many miners.
I think Fiat is the biggest bubble in human history. What I know is that cash is inflation every year, and it keeps plundering people's wealth. And bitcoin didn't do that.
I don't think so but many people say it bubble,i think it is for me a great opportunity to earn money,that's all.
I agree with you, for my opinion people are saying that because they don't use it and try to use it. There are still many people that get good opportunity from using Bitcoin.
no, bitcoin is not a bubble. The bubble should burst, and bitcoin is not going to do this and be blown to zero. he has 2 big problems: he is extremely volatile and because of his technological problems he is not perceived as a means of payment. Bitcoin is now a reliable investment tool and speculative, aimed at personal enrichment.
if you think bitcoin is a bubble then you are in for the biggest surprise of your entire life when it continues rising and reaches $1 million in a couple of years. what would you call it then? you need to come up with a new word in English language instead of "bubble" to describe it then 
The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
We can't say that bitcoin is the biggest bubble in the history of humanity until we get to know the tulip mania that happened a long time ago in Dutch colonies. That is a prime example of a bubble. Another bubble that happened in the history of humanity that I deem greater than the bitcoin bubble is the Japan Economic Miracle. Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
Who knows whether Bitcoin is a bubble. Only time will show. However, in their time everyone said that credit cards are also a bubble, but after many years people continue to use them. So I'm inclined to believe that bitcoin is not a bubble ... at least I really want to believe in it.
No, it is not at bubble. I like it as a payment medium because of a number of reasons. It is a boon for sellers as there are no charge backs.
This contention about bitcoin being an air pocket has run forward and back with frail (and now and again with solid) points of view. We are yet to see its finish. However, I realize that what gives a thing its inherent esteem is request and this is the thing that bitcoin has possessed the capacity to accomplish. We may think its cost is far too high yet sit tight for it as the fame around it keeps on spreading with its restricted supply.
It's not a bubble, as it has been employed by various companies and many countries and companies are opening their doors to it. The uncertainties around it is because people do not yet have an adequate understanding of what bitcoin really is.
Most derivatives have huge bubbles, which do not depend on how big the commodity is, and I think it can't be considered the biggest bubble in history as long as it is adopted on a large scale.
I've red an article and it says that the biggest bubble in human history is what they called the Tulip which makes people like crazy selling their properties and giving up all the things they had in order to get that but bitcoin is not like that because bitcoin has a purpose in this world and that is to help people to invest their money and give them a chance to make a bigger profit than the traditional investments.
Many people keep saying this bitcoin bubble story for a long time. but bitcoin has proved that it's use is the best for people to avoid taxes and high fees. so i think bubble is not going to happen.
I think bitcoin is not a bubble as you think because if bitcoin is a bubble, of course its existence has disappeared long ago as well as in the bubble penomena in other forms. but in fact until now bitcoin still has a fairly strong existence. this certainly shows that there are still many people who believe in the greatness of bitcoin.
This is what most of the people say about bitcoin, they always say that bitcoin is a bubble and it should not be treated as a legit investment because it is a bubble and more likely a scam for an investment and the people should go to stock market, bonds and other type of so called safe investment because they are regulated but they are just close minded people because they don't know what they are talking about.
Derivatives are empirically the biggest bubble in human history.
"an arrangement or product (such as a future, option, or warrant)
whose value derives from and is dependent on the value of an
underlying asset, such as a commodity, currency, or security."
They have no intrinsic value and are purely speculative. There is no other function or purpose. Yet banks, hedge funds and retail investors can all make bets on assets they don't even own in an attempt to turn a profit. Pure, unbridled gambling. As a bonus, it has a strong tendency to sway the prices of many of the underlying goods people actually need to buy, which ends up costing you, the consumer, money. And best of all, it continues to spiral into a debt that can never be paid off, since the "market value" (although it has no actual value) of this magical casino is now in excess of all the "money" (which isn't exactly real either) on the face of the planet and continues to grow larger by the second. In the time it has taken me to write this post, it's fair to assume another few million dollars worth of completely non-existent "arrangements" have been created out of thin air.
Bitcoin is remarkably sane and rational by comparison. But the media will never tell you that.
"an arrangement or product (such as a future, option, or warrant)
whose value derives from and is dependent on the value of an
underlying asset, such as a commodity, currency, or security."
They have no intrinsic value and are purely speculative. There is no other function or purpose. Yet banks, hedge funds and retail investors can all make bets on assets they don't even own in an attempt to turn a profit. Pure, unbridled gambling. As a bonus, it has a strong tendency to sway the prices of many of the underlying goods people actually need to buy, which ends up costing you, the consumer, money. And best of all, it continues to spiral into a debt that can never be paid off, since the "market value" (although it has no actual value) of this magical casino is now in excess of all the "money" (which isn't exactly real either) on the face of the planet and continues to grow larger by the second. In the time it has taken me to write this post, it's fair to assume another few million dollars worth of completely non-existent "arrangements" have been created out of thin air.
Bitcoin is remarkably sane and rational by comparison. But the media will never tell you that.
Fantastic Comment.
That is exactly it, the media will never admit it, since the one who commands the game is exactly who pays the advertisements.
Join the derivatives market, fractional reserves and public debt and the image the apocalyptic bubble will appear.
It`s fantastic because it`s true! The debt based economy, it`s sounds bad as it is. And selling of loans by banks is another practice that feeds this huge illusion of economy we have. Debt is forced to grow in this economic model, debts and selling those debts, normal person would ask where are we going? Manufacturing must increase, sales must increase, and consumption must increase. Businesses have to expand to stay afloat, and who cares about people, animals, planet where all of us live? But media will never tell you that, people needs to find the truth alone, like we did.
No, it is not. The dot com bubble was at 28k bn dollars at its peak compared to 280 bn dollar crypto right now.
those people who say that bitcoin is a bubble! then these people do not understand what a crypto market is, these people are the majority of people who get information from the TV! I'm sure that the crypto market has already changed the world economy and will change it even more! bitcoin and the whole system of the crypto market has outstripped traditional types of investment! the cost of bitcoin reached 20,000, and this price grew only in 8 years! The system of the crypto market has allowed the emergence of new companies! bitcoin has become a very strong competitor in the payment system! and more and more people are opening their doors to bitcoin!
Derivatives are empirically the biggest bubble in human history.
"an arrangement or product (such as a future, option, or warrant)
whose value derives from and is dependent on the value of an
underlying asset, such as a commodity, currency, or security."
They have no intrinsic value and are purely speculative. There is no other function or purpose. Yet banks, hedge funds and retail investors can all make bets on assets they don't even own in an attempt to turn a profit. Pure, unbridled gambling. As a bonus, it has a strong tendency to sway the prices of many of the underlying goods people actually need to buy, which ends up costing you, the consumer, money. And best of all, it continues to spiral into a debt that can never be paid off, since the "market value" (although it has no actual value) of this magical casino is now in excess of all the "money" (which isn't exactly real either) on the face of the planet and continues to grow larger by the second. In the time it has taken me to write this post, it's fair to assume another few million dollars worth of completely non-existent "arrangements" have been created out of thin air.
Bitcoin is remarkably sane and rational by comparison. But the media will never tell you that.
"an arrangement or product (such as a future, option, or warrant)
whose value derives from and is dependent on the value of an
underlying asset, such as a commodity, currency, or security."
They have no intrinsic value and are purely speculative. There is no other function or purpose. Yet banks, hedge funds and retail investors can all make bets on assets they don't even own in an attempt to turn a profit. Pure, unbridled gambling. As a bonus, it has a strong tendency to sway the prices of many of the underlying goods people actually need to buy, which ends up costing you, the consumer, money. And best of all, it continues to spiral into a debt that can never be paid off, since the "market value" (although it has no actual value) of this magical casino is now in excess of all the "money" (which isn't exactly real either) on the face of the planet and continues to grow larger by the second. In the time it has taken me to write this post, it's fair to assume another few million dollars worth of completely non-existent "arrangements" have been created out of thin air.
Bitcoin is remarkably sane and rational by comparison. But the media will never tell you that.
Fantastic Comment.
That is exactly it, the media will never admit it, since the one who commands the game is exactly who pays the advertisements.
Join the derivatives market, fractional reserves and public debt and the image the apocalyptic bubble will appear.
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