Topic: Stop Calling It A Bubble. - page 2. (Read 3573 times)

I don't think that it is really hard to do

It may be hard to estimate or assess, but this is a different task, anyway. Bitcoin intrinsic value comes from its transactional utility, i.e. its value as a currency and payment system, and this value Bitcoin would have if we removed it from speculation entirely. How much Bitcoin would cost in that case is unknown, but I don't think very much. Just in case, the value that Bitcoin has for being used a speculative vehicle is certainly not its intrinsic value. In this way, it could be safely claimed that Bitcoin is highly bubbled nowadays

how can you know that we are not in a bubble now, how can someone draw the line between an unjustified belief and a legit price increae? it's very hard to know if we are going to crash or set a new bottom higher than current value, for me only a crash of 100% or more is a bubble, small crash are not a bubble imho

That's not really true...a bubble refers to the artificial inflation of the price of something because of some unjustified belief that it is more valuable than it really is. TBH I'm not sure if BTC is in a bubble state right now, but the argument can be made that the recent jumps in price don't reflect the actual value of the currency, and are therefore bound to drop

Hi Bitholder,
My bad I wanted to tell that it should drop about 1000$, not at 1000$, so between 1500/2000$ and I agree with you for the rest.
As I said it's a bubble in the history of BTC, not that BTC is a bubble, so it is clear that the price should go up after the correction

Like it or not the price rise is not a bubble. i like to deal with numbers. Check the starts.
1.) number of transactions has increased ( i mean real transactions like buying of goods and services and not buying to stuck and sell  for profit letter. these are mini transactions which mean the local man himself is in the game not only the gurus)
2.) market cap has increased break new all time high
4.) More and more people are trusting the technology and day passes
3.) The awareness is growing more and more people are knowing about bitcoin and crypto technology. Am from Africa and when i tell you more people are becoming aware i mean it. all people around me are wanting to know about this new tech and they are learning and getting in to it..
4.) More are more industries and technologies want to incorporate block chain technology in their business for all the crypto advantages. i mean banks are now incorporating block chain technologies in their transactions and other companies too are doing same in their own departments for different reasons that suits their interest
5.)every body here and there is accepting bitcoins.
6.)The rise of alt coins. the number of alt coins are growing exponentially meaning more and more people are begging to realize that every thing needs to go crypto. and believe me every idea you can think of now there is team trying to turn it in to crypto..

 my take ;;
  People are have begin to seeing the real value of bitcoin. for me the the price is just catching up with itz value and this is just the start.....
 the world is sick. people need something to trust (not some body because till date all those we have trusted has disappointed us in one way or the other) , people need transparency and above all people need freedom.
 testing period for crypto is over and people are now convinced...
 Yes it will always get some corrections here and there it may even go down to 1500 but certainly it will go up and within 10years to come a single satoshi will have a dollar price
 the rise in price is not a burble ,,

I also do not call it as a bubble because I know it is a real increase in the price of bitcoin because of the increase of the real users of bitcoin and a bubble occur when there is a news of price increase to a specific value and people are waiting for that price and everyone sell panic at that stage and the price drop down again. But this time it is not the situation of bubble but people like and are adopting bitcoin for their living.

The famous Bitcoin Pizza which pegged the price of 10,000 BTC to ~$20 or $25 USD recently would have been worth about $28,000,000.


~$23 USD >> $28,000,000 is not "the very start of exponential growth"*, sorry.
*Edit: Price growth no longer a baby, "exponential growth" in usage is still possible, but....

Fees are high and merchants can't give refunds, so "exponential growth" in usage is NOT still possible, so...
Sadly, this long-term Bull is concerned we are promoting a Tulip Bubble Ponzi Mania, & I wish it was not so obvious.
 

Eron ~ you can't compare current situation with how things were back in 2013. If you look completely unbiased, then without a doubt the peak back then was a 100% bubble.

Currently, the demand has been coming from all over the world, and can be seen as a legitimate form of growth. Is the price overbought? Maybe, but we'll see what happens.

I don't see anything bad in a correction of 10-20% in the coming weeks, and that's all normal in a speculative market, but there is no way I can see the price fall back all the way to the $1000 mark.

Yes it's a bubble in the history of BTC, IMO.
It seems like late 2013, and if you just look at the graph I've made, the price is just folowing the red average line, so it should drop near 1500$ and stabilizing after that, why?
Because everybody who hold BTC wants benefits, because everybody need money even if they believe in crypto, and I do so, so selling now, taking benefits, then buying later when it is lower.... history is cyclic.
Now take a look at the asks/demands and you'll see that the demand is minor, so the price of BTC should drop.
Maybe I'm wrong, but I don't hold.

I think you re right, despite the remarked rising of its price, Bitcoin still not yet known by everyone worldwide and it not yet the subject of the talkings of people. But it is also obvious that the increasing of price spread the word about Bitcoin lastly

That is strange, because everybody who I see in real life is talking about bitcoin. CNBC posts like 5 articles per day about bitcoin. Awareness of bitcoin has never been anywhere remotely close to as high as it is today.

Furthermore, bitcoin's price has increased by nearly 300% in the last 3 months, but its adoption and intrinsic value has not increased by even close to that amount, meaning there is a growing disparity between value and price caused by the over-buying frenzy we are seeing today.

Lastly, bitcoin has formed bubbles over and over again consistently for as long as it has existed. Why is it that you think it is different this time? There were about a thousand posts on this forum in 2013 about how it is not a bubble.

lol 100k now it's impossible but 10k is doable, but it won't be stable, it willr eturn to 3k or 5k

Bitcoin has already experienced bubbles.But this time,its not a bubble.People all over the world have realized the true potential of bitcoin.Bitcoin price is yet to rise more.

that is a wrong definition of a bubble. it has nothing to do with who and how many are talking about it.
the correct definition is this:
"A bubble is an economic cycle characterized by rapid escalation of asset prices followed by a contraction. It is created by a surge in asset prices unwarranted by the fundamentals of the asset and driven by exuberant market behavior."

there is no easy way to say what price is the intrinsic values are so it is hard to say for sure that if it is a bubble or not.

is bitcoin in a bubble? maybe, but if it is, that bubble is not that big because we have already seen a lot of price drops (correction, contraction, crash, dump or whatever you want to call it) some of which have been big and they corrected the price and after that price is still rising.

are altcoins in a bubble? i say yes. there is no reason for most of them to rise and it is purely "exuberant market behavior" leading to a fake price.

Price is volatile in bitcoin, its very known to the all the people in the forum but recent price bumps are moving up due to high rate of adoption from the business whales, many companies trying out to implement the bitcoin as a legal money and Financial sectors trying to implement their own altcoin with the blockchain technology.

It is a rapid expansion indeed but you know what is wrong about rapid growth? It always make the shake so much harder for the investors/holders of a asset. A rapid growth often tends to give fear on investors in which they are afraid that it won't last making them sell their shares even the big players sell there position when they see things are moving fast in which they take advantage of and create a panic selling. This cycle repeats because they will always buy again at a lower price and sell it again when a new high is breached.

All people have the rights on what they will call on this current volatility in price of bitcoins.We can all this as a bubble because after the adoption of bitcoins in huge countries bitcoins rapidly increase and popularity increased too and many new users come to buy bitcoins

I do not agree your think, we are in a big bubble of crypto market, not only Bitcoin. You can see the value growth of Cryptocurrencies, very more value up to 100-5000% than 3 months ago. Any market or valuable assets normal can't do that, I think we will get a big breakdown value of Crypto Market

The reality is that the real value of XBT is becoming clear: XBT is not a great currency, but rather an excellent store of value.

Merchants will base their savings in XBT for its stability and predictability, and start using technology with more "cash like" features to complete business transactions, such as XMR.

Well, as much as I would want to say that it isn't a bubble, it definitely shows a lot of characteristics of being a bubble. There may be some changes in the future that take us away from looking a lot like a bubble, but for right now, as detailed in a post or a few above mine, there are a fair amount of reasons to call it a bubble.
The blockchain also has to be fixed so that transaction fees don't skyrocket. If we start paying amounts more than that of the fiat counterpart, there will be no more value for Bitcoin as a cheaper means of moving money, something people who want to call Bitcoin a currency couldn't stand to have happen.