Topic: Will Bitcoin be the biggest bubble economy in history? - page 3. (Read 614 times)

Unless it really happens then that's when we can really call it the biggest bubble but the problem is that I think it should've popped a long time ago because a bubble can't really sustain millions of demand and the current prices but bitcoin seems to be able to do it  without a problem.

Those are actually excellent use cases for Bitcoin, and may it never be stopped from being used for moving value across countries illegaly, and for buying drugs from the dark markets. The moment the authorities can stop Bitcoin from being used for illegal activities, is the moment Bitcoin has lost its main value proposition.

Your charts are incredibly misleading. The vertical ranges of the charts are very different:

GOOGL: 75
AMZN: 6000
FB: 20
XBT: 10,000,000

Nicely put. With lots of governments involved there is little chance for this to be a bubble where investors, both large and small poured billions into. The phenomenon of abubble does not lat for long, while crypto has been around for nearly a decade, enough time for the bubble to burst but instead the space is getting more and more attention... that to me does not sound like an overall bubble that will pop any minute now.

If bitcoin is a bubble, then satoshi is an ambitious anarchist because countries have been considering making it a legal tender and I think that bubbles don't last for decades in any recorded history.

You live in a more progressive society than me. I literally this year alone was almost in a conversation where people were in agreement that Bitcoin was only used by money launderers and cocaine drug lords. They were not being funny, either. They were top-of-the-line highly-qualified finance people with decades of collective experience and education. I just shrugged and said "you're right".

Different technologies arise at different point of time in the history as like the Computers, dotcom boom, Cloud computing and AI improvements (after the internet became mainstream) etc etc. All had their run over the course of the time and when they reached the area where further major improvements is not possible, new entrepreneurs moved to the next major technology. Consider an example over here in this instance : In the mid 1950s to 1990s almost everyone were working on making the Operating Systems as user-friendly as possible. Once these were achieved by Apple and Microsoft, we moved on-to building our businesses on the Internet (or so called Interconnected networks) and hence emerged the dotcom bubbles where larger companies like Google were in the midst of survival.

Once the consumer base attained the enlightenment or what I would call as the phase where consumer understood what was happening under the hood, the companies started building cloud servers and migrated slowly to AI. This is where cloud computing and artificial intelligence came into existence. Along with this, blockchain came into existence with the introduction of Bitcoin by Satoshi in 2009.

Since the blockchain environment is driven by open-source movement, almost 80% of the so called blockchain technology companies copied the source code of Bitcoin and started building their own shitcoin and this indeed fueled the start of bubble mania. Eventually when the consumer base attain the enlightenment as like in the case of dotcoms and aren't driven by greed, we will view the collapse of 75% of the blockchain companies and only the strongest with the better technology survive. This will most likely happen in 10 years at the maximum and we would be experiencing newbie investors losing all their hard earned money through the collapse (this has already happened in 2018 crash) but the upcoming bear market will be more worse since Defi and unnecessary staking activities has paved way to enormous amount of scams.

Coming up to the point, I believe we are in the middle of bubble and the 75% of the companies which didn't build the company on their own but rather copied the source code of Bitcoin and did minor improvements would fail miserably.

Bitcoin is like the Internet but Blockchain Companies dependent on Bitcoin are like the Dotcom Companies.

Will Internet fail? No, not at all. Will the company build on top of Internet fail? Most likely and that is dependent on how bad the company is. I would never say Apple or Google or Microsoft will fail but many companies who weren't as superior as these Top 5 might fail.

If they say it's a bubble then it's a bubble. But I think Bitcoin's bubble is justified because it has a very limited supply and can't be siezed by force compare to whichever had bubbled before. If anyone loses their private key then that BTC is lost forever, the lesser BTC available in the circulation. It's a bubble as it may seem but the market will still keep going whatever they will say. The price will pop and a few years later again, it will once again bubble.

Bitcoin cannot compete with the US stock market or the Chinese real estate sector.
Do you really believe that the Bitcoin market cap will ever going to beat the US stock market cap?
This is ridiculous.Bitcoin is capable of forming price bubbles,but we shouldn't put the blame on BTC entirely.
The "bubble economy" was created by the central bankers and their money printing machines.
The price bubbles of the modern economy would be way smaller,if there wasn't massive fiat money printing and increase of debt.

The dotcom bubble was at $6.7 billion at its height, crypto bubble was at $2.4 billion, Bitcoin alone was at $1.18 billion. Bitcoin had multiple bubbles in the past and people thought that it's dead when the price crashed by 80%, and yet here we are, trading at above the last ATH. You can only say that Bitcoin as a whole was a bubble if it crashes back to the lows that weren't seen for many years.

You are wrong on everything except those Tulips. Zoom out to the maximum the U.S. Stock Market price indices, and Chinese real estate. Their trajectory is always up, only the Tulip market died in your example. Like Gold, real estate and the stock market, Bitcoin has also achieved a status that’s coming on its own.

The bigger bubble will appear when the first big nation accept Bitcoin. The growth of adoption has been on a good track (see the screenshot) and it fits with the yearly lowest price of Bitcoin.

Look at it in macro view. You will see better adoption and higher highs for yearly lowest price.

All of them, US stock market, Chinese real estate, tulip mania are hyper inflated. Bitcoin is not hyper inflated.  

Please tell me, after you spend a few seconds to look at those charts.

Would you call Amazon, Google, Facebook stocks have biggest bubble in history, at specific time of their serious macro corrections? Are their corrections better or worst than Bitcoin corrections?
Source this tweet

Have you ever read that article (in May 2021)? Bitcoin is tumbling at the end of its worst month in nearly 10 years. If you have knowledge and understand how Bitcoin has moved so far in its history, you will laugh when you glance at the article title.

Bubble economy, speculation and greed all in the same  sentence, this is now sounding like a recipe for disaster.

But as far as I know, bitcoin has not reached its full potential yet, it's still growing and based on the laws of supply and demand, we have the supply side of things sorted...it's limited ,which leaves on demand to do its thing and it's value will go up then can we come back and weigh in whether btc is a bubble economy or not,for now its still young.

I think this kind of thing will stay here for awhile or maybe forever since FUD spreaders aren't going anywhere anytime soon. Also, if bitcoin is a bubble, bitcoin should've popped already in 2020 since most bubbles don't last that long and also a lot of people have made money in bitcoin so being a bubble is out of the equation already.

Bitcoin rise is made of smaller and bigger bubbles. Some are indeed B I G. Still... I'd say that most probably it won't "become the biggest bubble economy in history" because:

1. Bitcoin is not a bubble per se, it should "settle" sooner or later to much smaller price fluctuations, hence also smaller growth.

2. In human history things tend to "evolve", whether they're good or bad. So I expect that sometime in the future something even bigger will come to reality.

OP, zoom out and look where the trajectory of Bitcoin is since 2011. The question should be, “Did Satoshi Nakamoto invent the first ever forever-rising digital asset history”? It can’t be a bubble until it loses all value and goes back to ZERO. Is Gold a bubble?

No.

How about the arts? don't you forget that even a painting that doesn't have in it can cost thousands to hundreds of thousands into million and millions.

Even if the painting isn't from a very known artist. As long as the auctioneer will give a good description about it and have it on a grand auction.

Moreover, bitcoin simply has not achieved it's true value yet. So many corrections are already happening which means bitcoin is still in search of it's own valuation. Let me guess, this is never happening? The four yearly bitcoin halving, miners rewards updating each time, global acceptance in the future, bitcoin listings on the share market, so many factors are there which defines what will happen with the bitcoin.

I don't think bubble economy applies to the Bitcoin asset. It's volatile, uncontrolled, the money keeps coming inward and outward all the time. There is no fix asset valuation in this case, so may be bubble economy won't even apply to it.

You can call it a bubble per definition. But you have to understand that bubbles have been in existence for centuries. And the thing with previous bubbles, is that they we are not able to recover after it crash, while bitcoin will go on a bearish trend and then bounce back because have something that those historical bubbles don't have, "halving".

So after the bubble has been burst in 2018,, we went on a bearish cycle. People calling bitcoin is going to die, and yet we bounce back and did reach a new all time high of $64k. We can reach a certain bubble point and then have a reset, cycle repeats.