Bitcoin Cannot Be A Bubble!

[iamTom123]

The internet is replete with people referring to bitcoin as a “bubble.” They are spreading fear, uncertainty, and doubt galore. They believe bitcoin’s high price spells impending doom, but their criticisms move beyond mere skepticism. It seems like they just hate cryptocurrency. Yet many of these pundits do not fully grasp bitcoin…or even economics.

Commentators like Peter Schiff and others have routinely said bitcoin is a “bubble,” and that it will collapse any moment. They make these claims, but do not seem to understand how bitcoin works. Everyone sees headlines like this all over the internet: “Bitcoin is a false truth, warns analyst,” and this CNBC article, “Bitcoin’s nearly five-fold climb in 2017 looks very similar to tech bubble surge.” There is even a site dedicated to collecting these FUD and clickbait claims the mainstream media repeats.

Bitcoin is special. It is not a company that could lose profitability and fail. It is certainly not a speculative real estate scam that could crumble as a result of government and bank-induced chicanery. Bitcoin is another animal.

Bitcoin is Not a Bubble. Its value is not increasing because of marketplace lies. It is increasing because it is a life-changing financial invention. It is increasing because more people are adopting it. The “network effect” is in full swing.

You can read more about this here.

There are many arguments agreeing and disagreeing with the idea that Bitcoin can soon join the long list of many bubbles in the history of mankind. I am sure we are now familiar with the tulip bulb mania centuries ago and the dotcom bubble years ago. Some people fear that soon Bitcoin can be following the same path.

While it is also good to read and hear the arguments of the bubble side, reading something that says otherwise can be refreshing. And while we have to be careful with how we invest our money, just leaning more to FUD will not amount to anything.

Will there be a big pop or will there be a big celebration?

[neurotypical]

The internet is replete with people referring to bitcoin as a “bubble.” They are spreading fear, uncertainty, and doubt galore. They believe bitcoin’s high price spells impending doom, but their criticisms move beyond mere skepticism. It seems like they just hate cryptocurrency. Yet many of these pundits do not fully grasp bitcoin…or even economics.

Commentators like Peter Schiff and others have routinely said bitcoin is a “bubble,” and that it will collapse any moment. They make these claims, but do not seem to understand how bitcoin works. Everyone sees headlines like this all over the internet: “Bitcoin is a false truth, warns analyst,” and this CNBC article, “Bitcoin’s nearly five-fold climb in 2017 looks very similar to tech bubble surge.” There is even a site dedicated to collecting these FUD and clickbait claims the mainstream media repeats.

Bitcoin is special. It is not a company that could lose profitability and fail. It is certainly not a speculative real estate scam that could crumble as a result of government and bank-induced chicanery. Bitcoin is another animal.

Bitcoin is Not a Bubble. Its value is not increasing because of marketplace lies. It is increasing because it is a life-changing financial invention. It is increasing because more people are adopting it. The “network effect” is in full swing.

You can read more about this here.

There are many arguments agreeing and disagreeing with the idea that Bitcoin can soon join the long list of many bubbles in the history of mankind. I am sure we are now familiar with the tulip bulb mania centuries ago and the dotcom bubble years ago. Some people fear that soon Bitcoin can be following the same path.

While it is also good to read and hear the arguments of the bubble side, reading something that says otherwise can be refreshing. And while we have to be careful with how we invest our money, just leaning more to FUD will not amount to anything.

Will there be a big pop or will there be a big celebration?

The people that keep comparing Bitcoin to the Tulip mania bubble are usually old people or generally technologically incompetent people that just can't grasp the fact that something digital can be scarce, and something digital can be kept getting improved overtime.

Tulips or beannie babbies are just useless stuff with no continuity. Bitcoin is an open source effort that will always have brain power improving it and therefore making it more valuable, coupled with the fact that it's limited in quantity, it's obvious that the price will keep going up, that's no bubble.

Let them bark while we accumulate more cheap BTC. They all will die and BTC will outlive-them with an ever-increasing price.

[BrewMaster]

There are many arguments agreeing and disagreeing with the idea that Bitcoin can soon join the long list of many bubbles in the history of mankind. I am sure we are now familiar with the tulip bulb mania centuries ago and the dotcom bubble years ago. Some people fear that soon Bitcoin can be following the same path.

that is the issue i have with these arguments!
a bubble doesn't have to be huge,
it doesn't have to be devastating,
it doesn't have to take long to burst,
it doesn't have to be tulip,... bubbles,
,...
a bubble can be a small one too. a bubble that bursts just as fast and corrects itself during a short lived bear market for example. it really doesn't have to be the asset losing more that half its value or going to zero just to call it bubble.

and another thing that is mostly the bitcoin FUD than any logical argument is saying just because rise was bigger than expectation of few then it must be a bubble!!!

[HeRetiK]

I don't think we're in a bubble... yet. It may turn into one, but while from the outside it may look like Bitcoin is a bubble, those who are familiar with crypto know that for Bitcoin it is just business as usual.

I think we can start talking about Bitcoin being in a bubble if for some reason it manages to grow to USD 20k,- by the end of the year. Than I too will be onboard with the bubble pundits. But until then I see it as an upward correction of an asset that has been largely ignored and undervalued the last few years.

Note that I'm not saying that the bull market will continue indefinitely. The market will turn, probably sooner than later. But with current valuations it likely won't be as spectacular and dramatic a correction as the bubble pops of early Bitcoin.

that is the issue i have with these arguments!
a bubble doesn't have to be huge,
it doesn't have to be devastating,
it doesn't have to take long to burst,
it doesn't have to be tulip,... bubbles,
,...
a bubble can be a small one too. a bubble that bursts just as fast and corrects itself during a short lived bear market for example. it really doesn't have to be the asset losing more that half its value or going to zero just to call it bubble.

[...]

I agree with your sentiment, but I'd say that's simply how a bubble is defined -- huge and devastating with a build-up that lasts longer than is healthy.

[mobnepal]

Debt of America have grown to over $20 trillion recently and we are calling bitcoin as another bubble?  
America's ecosystem is bubble and that can soon hit whole world because most of the USD they print out doesn't have any thing backing it. Why USA government can print money like this, Because they are politically powerful?