to suggest bitcoin is a common stage of a bubble...
Bitcoin has been through many bubbles. Did you not see the "Mean" in this graph? It fits Bitcoin very well!
I will side with LoyceV with this one, as there has been many scenarios of bitcoin being a bubble, and what's happening right now doesn't remove that fact. And yes, the graph fits perfectly, but I thing something might change if and only if people are prepared for unexpected scenarios in BTC so that they won't get spooked or feared by the sudden change in prices.
hundreds of years ago the tulip bubble was because tulips were priced at several hundred times higher than other regions valued it.
yep traders from other regions came in .. got handed a tulip and thought it was valueless because in their home area even poor people were growing them for pennies. and the tulip mania regions bubble burst
so lets just make one more point about 'price bubble' which you are concentrating on
bitcoin is international. its not at different prices in different regions.. so isnt like a price bubble of tulip mania...
yes there are known underlying values of bitcoin (eg: mining) and yes speculative price is about 2.5x higher. and so inflated. .. but thats not to say bitcoin as a whole concept is a bubble. its saying the price when over inflated is a bubble.
as for this topics 'concept/phases/stages' of bitcoin. (fundementals not price)
loyceV is trying to show a concept of the entire bitcoin network/protocol is just inflated vapourware. meaning bitcoin will fail as a project..
there are many charts depicting different events. but Loyce chose this particular one that depicts a 700% bubble followed by a crash far below the early adopter stage.
very revealing why out of all economic models that exist he chose that specific one
he is not a person that is a fan of bitcoin(he might have been years ago). he has made many attempts recently in many topics to make people not want to use bitcoin and instead move to another network.
the phases of bitcoin is about the concept/protocol. not the price.
so yea loyceV can play his agenda games to diss/insult and say bitcoin is not a good payment system. loyce can try promote LN all he likes..
but ill jsut stay along the 'mean' line and hope once loyceV's influencers go full altnet and leave bitcoin. it can then let bitcoin grow progressively while they play on their alts(sooner the better)