Given these facts, you Bitcoin fans need to prove that the fundamental value is different from zero (or close to zero) - otherwise it is a by definition a bubble
No. Fundamental value of one bitcoin is equal to the cost of production of one BTC, approximately 800$ if i'm not saying bullshit.More precisely, price depends of kWh price, At $0.12 kWh a Bitcoin costs $1,567.88 to mine. At $0.04 kWh a Bitcoin costs $522.62 to mine. Cost is not the same as value. If it costs me 200$ to make a sandwich, nobody wants to pay 200$ for the sandwich |
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Ask at a job interview: "Have you invested in Bitcoin in the last 6 months, and do you hodl it?"
If the answer is yes, do not hire that person because he clearly have extremely poor judgement
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think about it this way: if you could own a share of the TCP/IP protocol would you do it ?? bitcoin and all other big blockchain technologies are just that; technologies you are buying the foundation and the land where MCdonalds or Apple will build a store on.
But with a Bitcoin you do not own a share at all. You own noting You own right to use the BTC network only when you have BTC, that allows you to transfer values across the internet and probably beyond that in future, those banks that have swift address code have right to use swift system and do transmit data on that network to transfer values (currency), we do not have swift code thus we cannot use the network and have to pay banks exorbitant amount of money to transmit our data across the swift network using their address What a load of bullshit. I hope for your sake that you do not actually believe what you just wrote? |
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Being on this forum is an interesting way to learn about the community involved in Bitcoin.
Several things are extremely clear from having been here for many months.
Of course there are some exception, but the vast majority of Bitcoin investors/fans in here are:
- Illogical
- Extremely poorly educated about finances
- No absolutely nothing about the business world
- Purely driven by emotions and a hope to get rich quick
Responses generated in here generally reflect the above elements as well.
The same pattern is emerging every time though - extreme anger is directed at any criticism towards Bitcoin.
In that sense, observations in here also clearly show that Bitcoin can much better be described as a cult. In irrational belief in something rational thinking beings know can not end well.
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think about it this way: if you could own a share of the TCP/IP protocol would you do it ?? bitcoin and all other big blockchain technologies are just that; technologies you are buying the foundation and the land where MCdonalds or Apple will build a store on.
But with a Bitcoin you do not own a share at all. You own noting |
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it is not a bubble only because the price is purely based on speculation and what other people are thinking about it.
That is precisely the definition of a bubble ! |
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Fiat currency that used to measure BTC values is in a bubble and already bursting and imploding as indicated by the parabolic rise of BTC values against it, 1 USD is actually worth only 4 cents and probably by now its already fall below 1 cent, still it is valued at $1 which is more than 100 times its fundamental values
That sentence literally makes no sense. And you have not answered the question - prove that Bitcoin has any value. You do what Bitcoins fans tend to do when asked a hard question - start talking about something else in vague terms. |
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You can't call it 'stealing'. It's not only about bitcoin, this is how market works. Every business is based on fact, that fools spend money and businessman makes money.
You clearly have absolutely no idea how a market works. I truly hope for you that you have not invested in anything |
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Bitcoin price is not a bubble as it justifies its value and ready to change revolution in world's market Platform.
Why does it justify its value ? - show me your calculation model where you calculate the value |
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Bitcoin fans keep saying "prove it is a bubble" because they do not believe it is - but this is a false question.
The real question all you bitcoin fans should be able to answer is: Prove that bitcoin is not a bubble.
A bubble is when the price of something is far higher than the fundamental value.
Bitcoin gives you ownership of nothing (a stock gives you ownership of tangible assets)
Bitcoin pays no dividend
Bitcoin gives you no right to future payments (bonds give you the right to payments)
Bitcoin gives you no patents or trademarks
Bitcoin gives you no legal rights
Given these facts, you Bitcoin fans need to prove that the fundamental value is different from zero (or close to zero) - otherwise it is a by definition a bubble
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I don't think is bitcoin is the same as stealing. Stealing is somewhat getting money without your consent.
If you see a small child who has 100$, you can go to that child and ask if it wants to give you the 100$ if you give the child a small piece of candy. You are saying it is ok to trick the child like this because there is consent. I would call this stealing. ....and yes, many so-called investors in Bitcoin seem to have the intelligence of a child when you read what is posted in here |
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Without the fool and greater fool there is no money in BTC.
These kind of people are needed for business so that money will circulate.
Well said |
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Don't be stupid. There is always now and then a post like this and always someone explains why Bitcoin cannot be a bubble or anything like that. Price is not increasing because of Speculation but because of number of people that are using it and there is limited number of Bitcoins to ever be produced which increases value dramatically.
Seems you are the fool here. Almost no-one is using it for payments - the extremely high fees makes Bitcoin completely useless for practical payments. The vast majority of people buying Bitcoin now is doing it because they expect it to increase in value. That is speculation. Just look at everyone in this forum - it is all about how much money you can make buying Bitcoin. |
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To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.
But investors can still make money.
The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).
This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.
But, as anyone with half a brain knows, as this is purely a bubble it also means something else.
It means that any investor that buys now can only be one of two types of people:
- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.
Therefore, if you have been buying Bitcoin in the past months, ask yourself:
Are you a thief or are you a greater fool?
How do you know "Bitcoin is deep into a bubble"? Do you have any concrete data to backup such statement or is just your opinion? Anyone disputing that Bitcoin is now clearly in a bubble is quite simply either blind or deeply unintelligent |
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My question is... how big a fool is the chap that thought about buying a few bitcoin in 2011 and chose not to?
He was indeed clever - I am talking about the obvious bubble that has been blown up over the past 12 months. |
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Well if you consider that as stealing.
Then stock exchange trading is also stealing.
And then its also stealing to put money in the bank and collect interests...
You clearly have no idea at all about the difference between stocks and Bitcoin. Seems you are most certainly in the greater fool category. Good luck with that. |
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To any neutral rational observer with just a minimal understanding of economics, it is clear that Bitcoin is deep into a bubble.
But investors can still make money.
The price can still continue to go up for a while. This is what economists call the "Greater Fool theory". In this, an investor buys an asset (for example Bitcoin) purely on the speculation that the price will go up because someone else is willing to buy at a higher price (the new buyer is the greater fool).
This strategy can of course be profitable for an investor who buys for example at a dip and sells on the way up.
But, as anyone with half a brain knows, as this is purely a bubble it also means something else.
It means that any investor that buys now can only be one of two types of people:
- You can be the greater fool. Ask yourself if that is you?
- Or you can be the one buying with a plan to sell to the greater fool. But that also means you plan as an investor is to cheat he greater fool - which in effect is stealing from somebody dumber than you.
Therefore, if you have been buying Bitcoin in the past months, ask yourself:
Are you a thief or are you a greater fool?
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Bitcoin network takes a lot of electric power, but these numbers are 20 times less than the whole banking system consumes.
Look at the data. A bitcoin transaction takes 20000 times more electricity than a transaction with a visa card. What do you think will happen if all transactions switch to Bitcoin? That is simply not physically possible - and that is one of the reasons why Bitcoin for sure will fail spectacularly. The only reason price now is high is because of the "greater fool theory". There are still many people out there who are dumb enough to believe price will go up for ever ("to the moon"). Once reality kicks in - and it always does eventually - there is nothing left. GTHO |
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....just another reason why the Bitcoin bubble will ultimately fail. Of course this will not change the minds of the Bitcoin fans who are entirely delusional and will dismiss any rational arguments against their Bitcoin-religion with the words "FUD" or "You don't understand" or "This is different" or any variation thereof. It is already a certainty that these people will lose their imagined "profits". For those who are not hardcore Bitcoin religious believers, this is the last chance to GTHO (Get The Hell Out).  |
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that is the story of years and years of bitcoin price. it always rises in the end. the funny thing is, in the past 3 years the patterns that bitcoin follows are EXACTLY the same! - price rises big time - then a correction starts, it is a simple 10% drop - then the FUD starts and the weak hands panic. during this time some idiot like freightjoe posts that picture he posted above and say we are on top of that chart and it will go down to $X where x is mostly 80-90% drop  - then the biggest dip most of the times is 30% and rarely it goes as big as 40% - after the dip is over and whales and the rest of the experienced traders were satisfied with the result, the price starts rising. - FUDsters go into their winter sleep and throwaways stop being created until the rally ends with a big time rise - repeat of the process again. This is same story over and over again - and exactly what the graph is showing. Towards the end of the bubble, the fans are becoming entirely irrational - anyone who genuinely believes that the upcycle continues for ever is either delusional or unintelligent - or both..... |
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