Topic: OK my apology Bitcoin is not a PONZI but I still call it a huge bubble (Read 684 times)

And ever since this topic was created we are still in a great rise, bitcoin rises, altcoins rises, hell even dogecoin broke over 67 cents, I don't get how that happened but it happened. Which is why I always say that do not listen to people who do not know what they are talking about, they are just contrarians who want to get attention they can't anywhere else and that’s it. Market doesn't agree with this notion, we all believe that bitcoin is still in bull run, it is evident from the purchasing and buying of coins right now where people are still buying a ton of them.

This is why I do not think that we should be worried about if it is a ponzi or a bubble, it was always obvious that it is not a ponzi, it was clear from the start, ponzi is something totally different, but it is also obvious that it is not a bubble neither because it actually is valuable to many.

It was called a bubble long before 2017.

Why are so many people fixated on 2017? It was just another in a long string of "bubbles".

since 2017 Bitcoin has been called a bubble by financial experts, and there was a bubble at the end of 2017 Bitcoin reached its highest price of more than $ 20k,
and broke in early 2018 to 2020, and now the Bitcoin price is also experiencing a bubble again until the bitcoin price is above $ 60k Either,
whether $ 60k is the peak of the bubble or it's still going up, hopefully it won't burst again.

I think he just shared his thought and also he don't have much idea behind that. However i have the great example who have just changed his life by investing on btc. If he has any idea about stock or forex market there are always an ups and downs roll on the market So can we tell it bubble??  no, so invest on crypto wisely you will get profited for sure.

This topic will never end to be honest and with bitcoin proving that it can do it's job, I think that they are fighting a battle of attrition that they aren't going to win. For people that don't have faith in bitcoin, I always tell them to lay off because what's the point of spreading FUD about something when you know that people aren't going to listen to you.

Bitcoin does not look like a ponzi, but rather a personal and standalone form of investment.
Bitcoin is already an investment in the digital world that is already on the top of the largest exchange.
If the value of bitcoin has reached $ 64,000 and looks very high, that is a very relative value because investing is already the largest business in the world.

again this type of subject, when the price was $10,000 I heard something similar, when the price was $3100 I also heard something similar, and I even heard that the price could not reach $30,000 and today the price is $54000 with great potential to reach more than $75,000 within this year, the demand that bitcoin is having and the fact that few people are selling makes this current price a justifiable price. market sentiment is very optimistic, this means that you should be prepared to see another big price increase

It does have some point though but i dont really believe that Bitcoin could really be the pin on bursting out the current financial sector.Im not saying that it doesnt have the potential
but it seems this thing wont really be happening no matter how bitcoin would really be progressing into the future.Its really hard to think off on the current financial sector
where we do rely since from the beginning of time.I cant really blame people to call bitcoin as a bubble since we do have our own views and jurisdictions when it comes
to certain things but somehow theyll realize that theyre wrong about this kind of perceptions and would say the opposite thing in the future.

Many times it can be very difficult to tell whether something is a bubble or not, in my opinion bitcoin should have had a value of one million dollars for each coin the moment satoshi created bitcoin, if we use that kind of logic then bitcoin has never been in a bubble and in fact it is still undervalued.

However if we use the classic definition of a bubble then I think that what we saw in 2017 fits the definition but at the end of the day that doesn't matter, what matters is that the technology behind bitcoin is rock solid and that if there was some way for governments to take over the network they would have done so already because each day that passes in which they do not do this bitcoin becomes better, stronger and more popular, and that is something that no government wants, as a currency that is completely independent from their own control is bad news for them.

There was a signature that I have read in this forum although I have forgotten who was the user that had that but in it it says that "Bitcoin is not a bubble, it is the pin." Which is pretty profound in my opinion but you get the gist of it, it is the one that will pop the biggest bubble which is the current financial sector.

https://www.youtube.com/watch?v=A7TuFy0fcuw

Tulips have a utility just the price was wrong is the counter to that argument.   Tulips still exist and they flower after every year once planted for many decades afterwards, thats a high yield item that does justify some kind of investment.   However the price got out of control and perhaps we need to learn better what triggered that inaccuracy at that time especially.
   Bitcoin right now does have a utility to it, every big voice criticizing it seems to forget their own self bias which is that they dont need Bitcoin but that doesn't invalidate it.  Invariably the guy on national news is someone rich enough to span multiple countries, have many companies, currencies much utility under their command and can choose to patronize whichever economy they like in the world so no wonder they say this isnt needed or gold does it better or whatever negative conclusion they draw.
   Im not going to argue especially just its quite obvious when people look at dollar & notice its failed in some way but then decide how best to avoid that failure, the market takes its own path like a winding river its not binded to any persons perspective or choices its a collective market and doesn't belong to anyone.     We forgot what a free market is I think, we live for many years now when all currency and trade is limited by red tape and constant debasement of money printing and all kinds of stimulus type measures.   I dont think we recognize capitalism anymore because its a stranger to us now.

Making out some comparison in talks of price increase then we can't really compare between stocks and crypto because the price volatility is already a big difference even though stocks had some nice increase but its incomparable with Bitcoin.

There are people who do have their own view on bitcoin if he sees that it is a bubble then let him be because he's the only one would miss out oppportunity if the market do rises up even more.

He can call bubble all he want but this bubble would really exist in future years to come unlike with other bubbles thay do only last for months

Yeah, bitcoin must be an all-new system which hasn't been experienced by human never before hence its growth as well at never seen pace and level. People who understand these never call bitcoin's value appreciations as bubble. But for the people who just see bitcoin like another stock or asset might lead to assume like it is growing for no reason and may get burst at any time; but when they start learning about bitcoins then they will definitely change their view.

I read somewhere that 2017's rise was up to the level of bubble like the actual growth for bitcoin in 2017 should be like up to 10k and anything beyond that in 2017 was bubble. Still, I am not ready to accept that because, in some calculation grows 100x from previous cycle's low and that way 19k in 2017 was not a bubble and still deserved growth by 2nd halving.

Bitcoin has been compared many times to the Tulip mania and this is a comparison that opponents of bitcoin like to make and yet they do not realize the differences between the two and that this demonstrates that bitcoin is not a bubble, Tulips had no utility which meant that all the price increase that we saw was fueled by speculation and the hope that someone else will pay more for their tulip bulbs.

Bitcoin is a technology that offers something that did not existed before and offers freedom in a world where that freedom is under threat every single day and as such bitcoin is a valuable asset, can bitcoin develop bubbles? Yes, is bitcoin a bubble? No, because unlike tulips bitcoin is useful and its value derives from that usefulness and the more people adopt it the more useful it becomes increasing its value accordingly.

We do have different impressions towards bitcoin and i cant blame out some people who do have negative views towards it but sooner or later they would really realize
on what are the things that they can discover once they had decided to study even more about bitcoin and later they would change their views and might even
support way more unlike before.These words are typically into those people who havent made out some research yet and make out conclusions without
even trying to look on whats the actual thing is happening.

Yeah, anyone who thinks bitcoin is a ponzi or a bubble would be kidding themselves. I mean think about it there is really nothing that would be even remotely close to that, these things do not just go up, bitcoin goes down a lot as well, it is finances. If you think something that constantly goes up is a bubble, what are we going to say about stock market? Have you seen how much it increased in the last 10 years? Even in the pandemic period?

There are so many stocks that went 2x even more during pandemic, look at amazon and tesla, they are ballooned up. Are they bubbles as well? If the whole stock market is a bubble that has been going on for over 100 years, then I think it is going to be fine for me that bitcoin is a bubble like that, because that bubble has been going on for over century so let bitcoin be over a century year old and I will be dead anyway.

Yes, people need to be positive and must try to sync along with the current trend of bitcoin markets. You may have doubts about other cryptocurrencies but there will be no point if you still keep doubting about the future of bitcoins. We must make use of all possible dips to buy more and I guess from here onward we may rarely get chances for grabbing lower prices.

As per OP, bitcoin may be a bubble but for the people who believe into the all potential of bitcoins, bitcoin's so far growth is real growth in ratio with bitcoin's power and potential. So, we may continue investing with bitcoin without hesitations.

If you don't have money to buy at that level, then don't stop people from buying, don't question people if they want to buy, they believe in this technology and they have the means, in the past, some newbies and unbelievers are questioning if people can and willing to buy Bitcoin at $20k or $25k, but look at what happened in the market, they bought they made a profit and continue buying.

It is true that people who have no knowledge and experience will not understand Bitcoin, whereas if we really understand Bitcoin and have
experience investing in Bitcoin, we will not say Bitcoin bubble. This is the importance of learning first before deciding to invest in Bitcoin,
so really understand what we are buying. Most people buy Bitcoin because of the hype, even though Bitcoin is an asset with a bright future.
It would be impossible if the Bitcoin bubble had many institutions buy Bitcoin in very large quantities.