Is Bitcoin the Biggest Bubble in Human History? - page 20.

partysaurus

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Quote from: pawanjain on March 11, 2018, 04:53:59 AM

If you think Bitcoin has no value , then gold, diamond and pearls should not have any value too. Its the humans who give a value to an asset. The only difference is that Bitcoin is virtual and the others are physical. Who knows, gold , diamond and pearls might be just stones in some parallel universe. So we can't say that Bitcoin or any cryptocurrency has no value at all. It took 9 years for BTC to reach at such price.

and dont forget about all forms of art

JL421

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Nope it isn't people said for gold also few years back when the price rose by 2 times only in a year , yes bitcoin growth is more than anyone expected but with all the support and worldwide recognition even if the bubble blasts it will easily fill up again , amd the facts 400 billion can't be removed in just a day that's a lot of money if you see

pushups44

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Quote from: mhsingh on March 11, 2018, 04:04:48 AM

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.

Here's a solution for you: short it. I dare you. Put your money where your mouth is. Perhaps you know deep down that bitcoin can go much higher for a much longer time than you would prefer. By the way, if the theory of subjective value is true, everything could be said to be ultimately worthless.

Roland Black

newbie

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Yeah, I see an article with a spelling error and it tends to lose all validity for me.

jhache

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No the dollar and the American debt is going to be the biggest bubble in human history. If you don't know how much debt the US has than just Google it. Bitcoin is something thats going through adoption and with adoption there is going to be an increase in price.

kpcian

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It's a natural process of block chain system. Since its a decentralised system so that there is no authority to regulate on the price not even no one can control over the market. this market is totally dependent on the share holder and they always manipulate the price of Bitcoin. That's why Bitcoin price always moving and become a vulnerable position. It's also may be consider that Bitcoin is the greatest bubble in the human History.

belyaevi

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Quote from: ivakar on March 12, 2018, 12:29:35 AM

Maybe so, and so what?
After all bubbles were expired, those tulips or dot.com industries or real estate or stocks market did not disappeared, right? Those industries are here and working after correction.
Yes, there is no huge profit as before, just healthy 10-15% per year, but they are still there..
so if the btc will explode, I hope that all crypto will remain, but corrected..

So what ? You cannot imagine the financial trouble people will face when it finally bursts. If it collapses and price goes to $500 or below a lot of people will become bankrupt. I think that a lot of companies will be affected as well especially those who have started to take payments in crypto.

In my opinion bitcoin is not a bubble but the current prices are heavily inflated. The main issue is that people are not using it for the purpose the developers started it. It was developed to be used as a payment medium but only few people are doing this. Everyone is interested in receiving payment in bitcoins and very few people want to spend their bitcoins.

Juggy777

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Quote from: mhsingh on March 11, 2018, 04:04:48 AM

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.

People value Bitcoins in demand and supply and it's intrinsic value derives from the way people value it, and all the positive news surrounding it. I do understand your reservations towards Bitcoins but that's been fed to you by the governments and white collar bankers who don't want you to know how great Bitcoins is. It is one of the greatest blessing that has ever happened to mankind. Ps you pay your taxes, record your forms and all and if you don't complain for that I don't think you should now.

not-a-bot

newbie

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This is a just new payment tool. And it's very convinient. Why don't you say Visa is a greatest bubble in a history? People are keeping several times more money in unsecure Visa and Mastercard than in Bitcoin

DooMAD

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Leave no FUD unchallenged

Quote from: mhsingh on March 12, 2018, 12:03:09 AM

Well I agree to some of the replies and some to not, I depends upon the Human thinking about the values of any object.

The OP's sudden and complete loss of English skills made me wonder if their initial post has been plagiarised. Turns out it was. If you're going to enter into a discussion about these things, either use your own thoughts and opinions, or credit the source, please. Some people, including the moderators, take a dim view on this kind of behaviour.

Original source for anyone who missed it: http://uk.pcmag.com/opinion/93234/is-bitcoin-the-biggest-bubble-in-human-history

trickyriky

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Quote from: Pursuer on March 12, 2018, 01:35:43 AM

"bitcoin is a bubble" is the new motto that idiots are using instead of the old see through one "bitcoin is dead". and this is also starting to become see through. the effects of it is no more than the old one since people are now familiar with how the FUDsters minds work!

I think it is time that we also start a new list like the obituaries list which now includes all the bullshitters who are calling bitcoin a bubble for the historic fun of it.

LOL. Those ones, who are speaking about Bitcoin as the biggest bubble that ever existed, but BTC coins themselves. They do it to let Bitcoin price falling and wait for the moment to buy crypto for less.

Lupulei

newbie

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Bitcoin is not the biggest bubble in human history. The American dollar is. The last time it was backed up with gold is back in 1971. Now if they need it they just print it.
I and all people that buy Bitcoin give him the value. And this is how it should be and not some fake value like we have with paper money. Some people are whining about high volatility, well we can dump Bitcoin tomorrow and that would be the reality because we said so and not some government people.

usechain

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In fact, you don’t need to worry about any issues. Bitcoin is not a bubble. For example, currency such as banknotes, gold, and silver are valued by people. Bitcoin is the same. Bitcoin is a bubble. I only think that you are the economy. The scholar gave flicker.

jamesashmore1964

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The problem with Bitcoin and the alts are that they are not user friendly.
In addition there are horror stories of coins stolen etc from wallets.
www.bitcoinfuji.com is a coin that is attempting to make this industry more user friendly.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Quote from: hase0278 on March 11, 2018, 04:30:06 AM

Quote from: Kakmakr on March 11, 2018, 04:16:47 AM

Why are you still hanging around on a forum, dedicated to Bitcoin, if you do not believe in the technology?

His reason for hanging around on a forum dedicated to bitcoin is obvious. He want's to share his opinion of bitcoin and wants to start a discussion with it. That's the common reason someone who does not believe in bitcoin lurks here for.

Quote from: mhsingh on March 11, 2018, 04:04:48 AM

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.

Then what do you think is the reason why fiat currencies have value despite it being just a paper? Because it is backed by government? Fiat currencies have value because most people sees it as the most convenient currency to use to transact daily(supply and demand). It is the same in bitcoin's case but instead it is being used to transact online.

The "false scarcity" ticked me off. Bitcoin does not have false scarcity, because the whole point of the protocol is to simulate the characteristics of precious metals like Gold. The 21 000 000 coin cap is not "false" and the chances that this will change is almost 0%.

All the talk about Bitcoin not having intrinsic value and false scarcity is starting to push my buttons, because most of these people do not understand the technology the way we do. ^hmmmmm^

Pursuer

legendary

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Where is my ring of blades...

"bitcoin is a bubble" is the new motto that idiots are using instead of the old see through one "bitcoin is dead". and this is also starting to become see through. the effects of it is no more than the old one since people are now familiar with how the FUDsters minds work!

I think it is time that we also start a new list like the obituaries list which now includes all the bullshitters who are calling bitcoin a bubble for the historic fun of it.

Shreek

full member

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IDENA.IO - Proof-Of-Person Blockchain

I think the value of bitcoin below $ 400 in the past three years is a great value, but although some people consider it small, bitcoin still has longer experience than other altcoin, bitcoin is senior and older, making the spreading and volume of bitcoin high.

some people say that bitcoin is bubble because it has no underlying assets, but can not be prohibited. payment system with blockchain progresses faster. even use lighting network to speed up transactions.

ivakar

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Maybe so, and so what?
After all bubbles were expired, those tulips or dot.com industries or real estate or stocks market did not disappeared, right? Those industries are here and working after correction.
Yes, there is no huge profit as before, just healthy 10-15% per year, but they are still there..
so if the btc will explode, I hope that all crypto will remain, but corrected..

pat231

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I don't really think so as Bitcoin has given many of us opportunity to earn a good income apart from our work so it is not bubble but its a biggest earning opportunity in Human History

BTC

mhsingh

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Well I agree to some of the replies and some to not, I depends upon the Human thinking about the values of any object.

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