First of all if anyone can see from my recent posts in legal and economy my view since the growth has been optimistic, and they still are. The only problem is the the average working joe doesn't have a clue about bitcoin, doesn't have a time with a wife and family to look into it not to mention the people (at least where i'm from, U.S south) with real equity simply dont' need the money.
I've been very passionate about this as of late and when thinking of graduate schools and how to further my education as well as the future I just too much risk involved in BTC as compared to real equity over time such as land, or more important more advanced degrees and titles which no one can strip from you. I've been talking to my dad about this, he is a neurosurgeon who got his M.D at 26 then surgical license at 29. He thinks this growth is bound to be a bubble as a very practical man because doesn't it seem like the old saying "if it's too good to be true it's most likely not"?
Also let's be just realistic for a moment and agree most people here are the overzealous portion of bitcoin users who WANT to see it grow. It is a bitcoin forum. I'm wondering what post-doc level economists are saying about bitcoin.
Plus there are disadvantages and may or may not be worked out such as legal protections (legitimate ones) against scammers and there are no reliable exchanges out there. I've had awful experience with coinbase and LBC.
I've been very passionate about this as of late and when thinking of graduate schools and how to further my education as well as the future I just too much risk involved in BTC as compared to real equity over time such as land, or more important more advanced degrees and titles which no one can strip from you. I've been talking to my dad about this, he is a neurosurgeon who got his M.D at 26 then surgical license at 29. He thinks this growth is bound to be a bubble as a very practical man because doesn't it seem like the old saying "if it's too good to be true it's most likely not"?
Also let's be just realistic for a moment and agree most people here are the overzealous portion of bitcoin users who WANT to see it grow. It is a bitcoin forum. I'm wondering what post-doc level economists are saying about bitcoin.
Plus there are disadvantages and may or may not be worked out such as legal protections (legitimate ones) against scammers and there are no reliable exchanges out there. I've had awful experience with coinbase and LBC.
1. Looking at the last few months bitcoin price, a 200% growth, practically or statasically it could be said that this growth is bound to be a bubble. Is speculation the sole reason for this or bitcoin is really getting adopted especially after Japan legalised bitcoin?
2. For a moment, let's consider that this tech/internet bubble would burst, but it would definitely rebound because of its working model, a decentralized currency. Bitcoin has done that in the past. Bubble burst or not there would not be a lack of users who prefer to use a decentralized currency.
3. Yeah, bitcoin lacks laws against scammers especially if it is a small scale operation. Lawsuits against Mt gox and cryptsy prove that laws can be enforced on big scams, but still this area needs a lot of improvement. This is one of the drawbacks of using a decentralized currency.
4. Coinbase is a centralized exchange. Since they do not have buy/sell option for my country, I have not used this feature and just few months ago they had blocked my three-year old account without any valid reason. They have weird rule and regulations, banning, blocking account with funds. I would not recommend it to anyone. Apart from LBC and Coinbase, there are many other exchanges.
Even if Bitcoin is a bubble I do not think it would be bursting anytime soon because more and more countries are planning to legalise it including India and Russia. As users increase bitcoin would get more stable and less volatile and people would stop getting too skeptical about it.
