Topic: is it a bubble? - page 8. (Read 954 times)
So yes it is a bubble but it will be quite some time before it will burst...
Nobel laureate Robert Shiller is fairly confident bitcoin will collapse, but he’s not quite sure when that collapse will occur.
Shiller, a Yale University professor who won the Nobel Prize for Economics in 2013, told CNBC that bitcoin will likely “totally collapse and be forgotten,” although it could linger for as long as 100 years.
“It reminds me of the Tulip mania in Holland in the 1640s, and so the question is did that collapse? We still pay for tulips even now and sometimes they get expensive. (Bitcoin) might totally collapse and be forgotten and I think that’s a good likely outcome but it could linger on for a good long time, it could be here in 100 years,” Shiller said.
Citing a well-worn comparison to the so-called “tulip bubble,” Shiller said that bitcoin has no value outside of the “common consensus that it has value,” which makes it different from gold and other commodities.
“It has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn’t see it as an investment,” he said, adding that he “doesn’t know what to make of bitcoin ultimately.”
This is not the first time that Shiller has given bitcoin a bearish forecast. In 2014, he called bitcoin an “amazing example of a bubble,” adding that currency-wise it is a return “to the dark ages.” Last month, he opined that bitcoin’s mythology would be a “wonderful story — if only it were true” and predicted that although it may not immediately crash to zero, it will definitely “come down” considerably.
Nor is Shiller the first Nobel winner to throw cold water on the lunar aspirations of bitcoin investors. Joseph Stiglitz, who won the award in 2001, has argued that cryptocurrency “ought to be outlawed” because — in his view — it “doesn’t serve any socially useful function.”
https://www.ccn.com/bitcoin-will-totally-collapse-even-takes-100-years-nobel-prize-winner/
Shiller, a Yale University professor who won the Nobel Prize for Economics in 2013, told CNBC that bitcoin will likely “totally collapse and be forgotten,” although it could linger for as long as 100 years.
“It reminds me of the Tulip mania in Holland in the 1640s, and so the question is did that collapse? We still pay for tulips even now and sometimes they get expensive. (Bitcoin) might totally collapse and be forgotten and I think that’s a good likely outcome but it could linger on for a good long time, it could be here in 100 years,” Shiller said.
Citing a well-worn comparison to the so-called “tulip bubble,” Shiller said that bitcoin has no value outside of the “common consensus that it has value,” which makes it different from gold and other commodities.
“It has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn’t see it as an investment,” he said, adding that he “doesn’t know what to make of bitcoin ultimately.”
This is not the first time that Shiller has given bitcoin a bearish forecast. In 2014, he called bitcoin an “amazing example of a bubble,” adding that currency-wise it is a return “to the dark ages.” Last month, he opined that bitcoin’s mythology would be a “wonderful story — if only it were true” and predicted that although it may not immediately crash to zero, it will definitely “come down” considerably.
Nor is Shiller the first Nobel winner to throw cold water on the lunar aspirations of bitcoin investors. Joseph Stiglitz, who won the award in 2001, has argued that cryptocurrency “ought to be outlawed” because — in his view — it “doesn’t serve any socially useful function.”
https://www.ccn.com/bitcoin-will-totally-collapse-even-takes-100-years-nobel-prize-winner/
No, why are you still asking this? It has already been replied 10's of times in here.
Just stop spreading that shit, it is not a bubble, and it will never be, and with "bubble" they mean that the price is only going up without any reason and that it will go down harder soon.
Just stop spreading that shit, it is not a bubble, and it will never be, and with "bubble" they mean that the price is only going up without any reason and that it will go down harder soon.
many people say that bitcoin bubble, honestly I still do not understand what is meant by the term bubble earlier?
until now I am still curious
until now I am still curious
A bubble is when the price of a commodity, stock, etc., skyrockets due to speculation. Bubble is usually used when the said item is believed to have been overvalued. Many point out to the Tulipomania when talking about bitcoins because of the price increase though after further reading you'll find it wasn't that bad. https://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/
A more recent example would be the Dotcom Craze, where investors would put money into any company with a ".com" to it. Everyone tried to get into the internet with companies putting out their sites and web-based services and people staking out domain names in hopes of selling them later.
A more recent example would be the Dotcom Craze, where investors would put money into any company with a ".com" to it. Everyone tried to get into the internet with companies putting out their sites and web-based services and people staking out domain names in hopes of selling them later.
Crazy Bubble nor Bubble is a market phenomenon, when the price has fluctuated wildly toward an abnormal rise, and resulting in some speculation or assumption among market analysts by calling it Crazy Bubble or Bubble and some even call it "Christmas Tree" LOL.
Bubble is the rapid increase and dicrease of bitcoin price, bubble is normally a specified action used on bitcoin business, it is only used by the bitcoin authorities for the balancing system of different transactions on bitcoin. So, as a bitcoiner, we must learn the normal movement of bitcoin price to avoid losses of our capital being invested, we must look forward on what price of bitcoin running up and down to avoid losses of our capital invested.
There's growth, there's new technology and there's some animal spirits.
Bubble is an incident where the price or value of an investment becomes unnaturally high, and bubble is far more often spoken about by analysts, when they are monitoring the movement of prices in the stock market nor crypto market.
it's the way people speculate that make it like a bubble, otherwise cryptocurrency in itself is not a ponzi they have real utilities for some
many people say that bitcoin bubble, honestly I still do not understand what is meant by the term bubble earlier?
until now I am still curious
until now I am still curious
Jump to: