Stop Calling It A Bubble.

[franky1]

to the OP

bitcoin infrastructure:  meaning merchant adoption, business growth, user adoption is not a bubble

but if your only talking about the "market cap", then that is a bubble
the market cap is a empty wall with no substance holding it up.
there are not billions of dollar just sat in bank accounts to ensure the market cap value holds.

its like housing. even though the average house might value at say $280,000*.. this does not mean that a housing market of 16mill houses is worth
$4,48trill*.

the $4.48trill* market cap of housing is a housing bubble. because if everyone tried to sell their house for an average of $280,000* there is no real $$ to cover every purchase. if everyone tried to, the bubble would burst!!

so stop talking about 'market caps' as that's a meaningless bubble number.

if you care about real value. look for metrics like:
merchant adoption
user adoption
business utility
basically the real strengths of an economy, which all currently point to having bitcoin at the top and having good value and longevity.

again if talking about value do not mention 'market cap'

*number picked for demo purpose only, dont be anal and knit pick its inaccuracy

[sasaku bitbit]

To me, the ascending price is just an upwards correction, aka the price catching up to what the value of bitcoin would be had there not been any negative events/news/roadblocks. More and more people (general public, businesses, inestors, speculators, institutions, developers, entrepeneurs, etc) are recognizing Bitcoin's many potentials as well as it's resiliency and have decided to jump on the train.

So yeah, until there is an actual "POP" i.e. the price crashes spectacularly to at least the low hundreds or lower and fails to recover, not a "bubble."

That's a twisted viewpoint--never heard of an upward correction, and I'm not sure that's legit.  Nevertheless,  it's hard to say with btc.  Sometimes you can only identify a bubble after it's popped and splattered debris everywhere.   I do think we're rising pretty damn fast.  We'll see in maybe 2 years.

Sometimes we can only identify the bubble after appearing and the rubble is sprinkled everywhere. I think we were up pretty fast. We will see in probably two years. Indeed this awaited Ascension bitcoin for all users

[Bit_Happy]

True. I recently found a blog of when bitcoin was at 100$,I think  it will go to10k and 100k soon , definitely not a bubble.
Megaupload2.0 and Bitcache's  launch will be this august, price  will increase exponentially and bitcoin will consolidate as the best currency.

With $9 to $29 fees for a single transaction?
WTF! Delusion in the face of a messed up reality is one very clear sign of a late stage bubble.

Cheers to all of the free minded people who used to LOVE Bitcoin:

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

Minecache, Your post does contain some real wisdom, IMO, but BTC has thousands of merchants who suddenly cannot accept it (due to huge fees), so let's talk about reality please?

[Sadlife]

It's not a bubble especially if some institutional investors decided to join the party, people think the rapid expansion of bitcoin and it's price value soaring up like a bull is a buble cause all of these years they've experienced the price of bitcoin soaring then all of a sudden went down can't really blame them if they think it that way but bitcoin has been innovating, expanding and gaining may supports we've just couldn't see it because we've been busy with the bitcoin scaling debate that we haven't realized that bitcoin has already matured from volatility. I guess the one's spreading the news that it's going to be a bubble is altcoin or gold investors.

[crashoveride54902]

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

It's a bubble :p  same as 1200 bubbly...except this time it won't drop to 200 after it pops, happy?

[thecodebear]

A bubble implies a lasting and devastating crash is imminent. I don't think that is remotely in the realm of possibility so I would say no we are not in a bubble.

Of course every time there is a correction you'll see lots of people shouting crash, as they when it dropped for what, like one or two days, when it went from $2800 to <$2000 and then stabilized at $2200-2300 for a few days and then started moving up again and in less than two weeks as of today we were back hitting new all time highs. Ha, so much for that bubble pop!

We are seeing the start of the exponential expansion of bitcoin/cryptos towards mass market. We are nowhere near mass market, which is why calling it a bubble is laughable. Next year people are gonna be dying wishing they had bought bitcoin in now, and the same the following year, and so on. We are at the very start of that exponential growth. Yes there will be corrections along the way, short term corrections measured in hours, days, or weeks. A bubble pop suggests that it would at the very least take many months to build back up. We might hit another bubble, for example if bitcoin jumped up to $10k this year I would say that would likely be a bubble and I would expect a pop and a slow buildup back to the top to take a good part of a year. But simply doubling or tripling in value is not a bubble at this point, it is just bitcoin taking the first small steps into mass market adoption.

[GreenBits]

It's not a bubble especially if some institutional investors decided to join the party, people think the rapid expansion of bitcoin and it's price value soaring up like a bull is a buble cause all of these years they've experienced the price of bitcoin soaring then all of a sudden went down can't really blame them if they think it that way but bitcoin has been innovating, expanding and gaining may supports we've just couldn't see it because we've been busy with the bitcoin scaling debate that we haven't realized that bitcoin has already matured from volatility. I guess the one's spreading the news that it's going to be a bubble is altcoin or gold investors.

It will be a bubble ESPECIALLY if institutional investors join the party. The growth of late has been simply unsustainable. If we got interest from an additional source beyond Japan and the subsequent FOMO buyers and newbies, we would go to 3500, then 1700. And Forbes would talk smack about bitcoin for at least 8 months.

[stomachgrowls]

Nah, we can still say its a bubble because prices do really dip on a certain particular time which we can really say that we are still on a bubble but seeing on the news on whats ahead about adoption and acceptance of particular country or service.We would really love to see bitcoins price to go up without looking back on its previous prices but this thing is impossible.

[RoommateAgreement]

i strongly disagree. what you are saying is only true about bitcoin not all the cryptocurrencies.
outside of here, if you ever get out in the real world, you can clearly see that a very limited number of people have ever heard about bitcoin and when it comes to altcoins nobody has ever heard about them! which menas the altcoins are the usual pump and dump. nothing new.

[Argon2]

It's not a bubble but the signs are all there for a correction soon. Maybe back down to 2300 range with long term trends upward.

Not with the hashrate increasing 13% every 2 weeks; it will continue to 5,000 USD by Jan 1 2018. August 1 starts bull run part 2...

[Wind_FURY]

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

That is what I am afraid of. The expansion is abnormally fast and there is too much people going in and buy because they are scared that they might miss the ride "to the moon". It is the typical behavior in the formation of bubbles in the market. I am not saying I do not like it. I do, I am making money same as everyone. But we should not get out of control.

to the OP

bitcoin infrastructure:  meaning merchant adoption, business growth, user adoption is not a bubble

but if your only talking about the "market cap", then that is a bubble
the market cap is a empty wall with no substance holding it up.

For once I agree with you 100%. I said the same thing in another thread and I got negative feedback.

[krishnapramod]

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

Dr. Robert Shiller's checklist on how to predict if something is a bubble or not.

The solution: a checklist like psychologists use to determine if someone is suffering from, say, depression. So here is Mr. Shiller’s checklist.
* Sharp increases in the price of an asset like real estate or dot-com shares
* Great public excitement about said increases
* An accompanying media frenzy
* Stories of people earning a lot of money, causing envy among people who aren’t
* Growing interest in the asset class among the general public
* “New era” theories to justify unprecedented price increases
* A decline in lending standards

Now most of these points can be applied to bitcoins, almost 200% growth in the last few months. Dot-com was a bubble and it popped, and bitcoins are similar to it in terms of technological advancement, almost all technological breakthroughs in the past have caused a substantial impact on the market, no matter how small it was, but the whole concept of bitcoin is different. So is it a bubble? Yes and no. Obviously anyone would get a bit skeptical when a currency has such a tremendous growth in a very short period of time. But mass adoption can be logically applied as a reason behind it.

Being a currency, as far as the user base increases + the areas where bitcoins can be applied increases, it would be in demand, and would not just go out with a burst.

[MingLee]

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.

[687_2]

Minecache, Your post does contain some real wisdom, IMO, but BTC has thousands of merchants who suddenly cannot accept it (due to huge fees), so let's talk about reality please?

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.

[tittensor]

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

[Kizaki]

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

[Harlot]

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.

[xIIImaL]

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

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.

[Herbert2020]

A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

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.

[ekoice]

Stop calling the recent expansion of the cryptosphere a bubble. We are not in a bubble. We are simply experiencing the rapid expansion of a nascent technology with new entrants and their fiat entering the market. A bubble is when everyone is talking about cryptos, e.g. your taxi driver, the bellboy, etc. Outside of my close circle of tech colleagues zero people are talking about Bitcoin.

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.