Topic: Now that BITCOIN hits the 18K$ USD LEVEL.... When will this GIANT BUBBLE burst? (Read 619 times)

demand make any brust [price back to 5000 ]like dream.

bitcoin now over 16,000$ and will break 20,000$ easy.

NO BUBBLE rising

Bitcoin is where Speculation meets Casino ....  

It will bursts at $1 per satoshi

The investors is the one manipulating the price bro. As the investors cash in or buy some coins the bitcoins price moves.

Wow came on, just another thread talking about the same? why all you are expecting to read real replies about it? Bitcoin is not a bubble, the only thing that makes it looks like one is the incredible manipulation that it has, nothing more. if bitcoin wouldn't be so manipulable, maybe it would be more stable.

I think bitcoin must improve its own technology many people thinks that it is now just a bubble because of the high transaction fees and long transaction process.

Fees are more than relevant, they are a clear indicator of Bitcoin technical limitation, as you said blocks are full, cost to mine a block is too high, Bitcoin is unable to scale, I don't see LN as a solution. Fees are showing that BTC has become more expensive than other payment methods. If you want a mass adoption of BTC and you want BTC to become more valuable, you must be aware that masses receive they salary in national currency, unfortunately this won't change in the near future. Plus, masses want to transfer money as cheap as possible. Person A is interested to transfer money to transfer B in the fastest and cheapest way possible. How would you convince them to use BTC for this purpose? Would you send $50 through BTC network or you would use a bank transfer or other conventional payment system?

Just imagine person A receives salary in USD and he wants to send $50 to his friend person B. In order to use Bitcoin network, he needs to buy bitcoin, should he make a deposit to Bitfinex and pay min $20? No. Maybe use Localbitcoins and pay premium 7% + plus underlying payment system fees? No. Maybe, he should just use ATM and pay 6% fees? This sounds like a cheapest and most elegant way so far. He could maybe try to meet someone in person, but I don't think that average user has that much time or wants to risk being robbed my some guy.

OK, so far so good, only 6%, next step send BTC to person B, wallet shows that he must pay 16,89$ worth of BTC for this transaction. OK, this should not be this fast, let's try with the lowest possible priority which will confirm and not get stuck for the infinitive time, this is approx... 106 sat/byte approx $4.46.

Next step, person B needs to sell BTC in order to use this value in his national currency, because we still don't use BTC to pay in stores around us, let's use ATM again, another 6%, plus probably 16,89$, if you want to receive money while you are still around ATM.

Conclusion, if person A wants to send $50 to person B through BTC network, it would cost him $83.84 in total and $33.84 for fees (approx. 40%) or let's rephrase if you want to send $50 you must pay $33.84 which means 68% fees. Slow and expensive. I think that they would rather use cheaper conventional method.

For me, it's all about usability, mass adoption and scaling, if it's not usable, you will have less users, if you can't scale, you will have even less users, less users, lower fees, less users lower BTC price, current 379sat/byte "normal" miners fee would me much cheaper probably $3 and more competitive to other payment methods. If you compare $3 with current $15.79 for the 379sat/byte, expect BTC to crash 5x of it's current value, probably BTC price would stabilize at $4000...

How are fees relevant to the question of whether or not Bitcoin’s valuation is in a bubble?  Do you know how Bitcoin works?  Also, Bitcoin fees are not denominated in USD/byte.

Leaving aside spam attacks for the moment, fees are a proxy for network demand—in turn, a reasonable proxy for estimating demand for Bitcoin.  Transactions used to be free or cheap, because Bitcoin itself was widely considered to be a worthless toy.  This meant that blocks were almost empty.  What you are really complaining about is that Bitcoin is now valuable—not some supposition that it be falsely valued.  Blocks being full and fees being bid up are data points indicating the opposite of a bubble.

Also, what is the relevance of fees from other services (ATMs, LBC, bank fees (!))?  How can you blame Bitcoin for your bank’s wire transfer fees?

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If I had a satoshi for every time I’ve heard it said that Bitcoin is in a bubble, then in the future, I would be richer than you with your dollars.  Zing.

If I get a dollar for every person that will say bitcoin is a bubble then I'll be a millionaire by now. Bitcoin is not a bubble and I believe that its price now is cheaper compared on what it will be in the future.

Bitcoin is already too expensive and definitely a giant bubble, not question about that. I'm looking at Mycelium wallet and just can't believe that "normal" transaction fee is 16.89 USD/byte?! Add in/out fees (for example ATM fees 6%+, LocalBitcoin premium approx. 7%, bank wire at exchanges approx. min $20) When I started using BTC it was free to send them, after that it was symbolic, now... it's not even competitive to classic payment systems.

In my opinion, minimum it is going to go up to is $27-28k. That is if it doesnot break the $30k level which i think it will. So the bubble could really well stretch out to something like $33-35k before crashing in my opinion.

Right now, it's purely speculation and i doubt that there is that many rational actors left in the markets anymore. Everyone's in there for a gamble. And even though right now bitcoin's still bullish, it's hard to see this sustain for years to come.

We can't 20x BTC's price every single year, that's for sure. So either this ends with a crash or growth stops and even goes to reverse slowly.

I am surprised that nobody else picked up on this.  OP’s question-begging was exceptionally blatant.  Crude.  Artless.  Real-life examples from professional politicians and marketers are usually much subtler, and delivered with finesse.

For those in this thread who need an explanation:  “Begging the question” is a commonplace rhetorical sleight of hand and informal fallacy, used to force acceptance of unexamined assumptions.  A popular textbook example is, “Have you stopped beating your wife?”  Either a “yes” or a “no” constitutes an admission of wife-beating.  The unstated question being begged is, “Have you ever beaten your wife?”, with an assumed answer of yes.

The only appropriate response is to reject the question entirely, and demand examination of its assumptions.

N.b. that the term “begging the question” is oft misapplied, especially in Internet discussions.  Here, I have applied it properly.

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As I was just saying on another thread:

The real question is: when will people start to realize that this is not a bubble?

Calling Bitcoin a bubble is like calling the internet or smartphones a fad.

bitcoin will hit more and more records because in the past bitcoin were not that much famous and we want to use this for many transactions. bitcoin is good to buy and hold this money for future bitcoin is very important for me because i can avail the online services. like i have purchase the online server for my website in the payment system of this bitcoin.

Ok then I just need to sell some.. Then I’m the weakest hands of all,, so everyone will laughing because you mistakenly believe them,, because in reality they’re intention is just buying on dip.. Been hearing this bubble since 5000$ to 10000$ and up to 15000$ then 19000$ then again.. This issue is not use now to warn everyone but because of self interest and that is sad..

I don't know that it will. There's been 12 corrections this year, following 12 significant new high price levels set. These corrections relieve the pressure and tension in the market. I think the growth will just slow and the price will stabilize until there is another significant demand generating activity that arises in the marketplace. It could be related to some new development or in response to a geopolitical issue.

IF there is a bubble that pops, it'll depress the price of bitcoin some and get rid of the rubbish ICOs that are just noise in this marketplace.

$18k will be the new bench mark of bitcoin price there will be no bursting that is going to happen, everytime bitcoin reach its all time high people say its a bubble waiting to be burst but bitcoin is still going strong, bursting the bitcoin bubble wont be an easy thing to do.

Sounds that talk about bitcoin is bubble down all think bitcoin is investment way and one of the fastest way to be rich.
Most people who think that the dollar is a bubble is the reason that economic models indicate that the price is rising at limits that no one can predict and thus they say it is a bubble.
up rising from 1000 to 20000 in a year will drive them crazy, so don't think about them.
Invest in the future and forget the past.
it’s future bank and not bubble

Giant bubble? Where do you get this idea, that BTC is in a bubble already right now? Honestly speaking, you should stop reading articles and watching videos that spread false information like that. BTC is not in a bubble now and the price for it hasn't increase enough for us to call it a bubble. What you are seeing right now is the actual effect of people buying this coin around the globe. Many people are FOMOing hard every day just to get a piece/fraction of BTC in any price they can get it. Expect more price increase to come in the future. 

That's true. The question had the presumption that bitcoin really is a bubble.

Most of the bitcoin hodlers and users don't believe that. Obviously, bitcoin has a lot more potential to grow in the future and therefore wouldn't 'pop' very soon. With that being said, it won't burst anytime soon. The price will just continue to go up and grow even more. OP didn't even cite any reasons why it's a bubble and why it would burst - you simply assumed that it will.

i read your post, i believe most of you are stupid and miseducated, given that idea bitcoin is NOT a bubble.

Give yourself some education, it will blow your mind.