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Author Topic: Think about this: Is crypto a bubble.... or is fiat a bubble ?  (Read 942 times)
wahb
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June 09, 2017, 08:23:29 PM
 #21

Maybe a repeated question ? Not sure...

Just simple economics, no need to get very deep into this question.

USD (as an example, could be other currency) has no limit, nothing scarce, it has value because people believe in it, it has history and is issued by an entity that is loosing the trust once had.

In the other hand, any crypto currency is limited, it's scarce, it's been almost 10 years since the creation and you can trust the technology.

Why is this still not worth trillions ?

Bubble means that something rapidly grows in price and than falls to a previous level or lower. This is not happening with fiat, as its value only constantly decreasing due to inflation.

Why crypto is not worth trillions? It's very slow and very expensive to move, it's in a gray are of the law. Most people feel satisfied with fiat, so why should they switch to crypto?
but i am sure that it is not going to happen with bitcoin also. although the price of bitcoin increased so rapidly but, the increase in not a fake increase or manipulation, but in fact after japan legalize bitcoin, bitcoin become more stronger and popular, the investors in bitcoin become more confident which cause the increase in the price of bitcoin. i am sure that bitcoin price will continue increase throughout the year and it will be a permanent increase and we are not expecting any decrease in the price of bitcoin.
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Yakamoto
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June 09, 2017, 09:07:20 PM
 #22

Maybe a repeated question ? Not sure...

Just simple economics, no need to get very deep into this question.

USD (as an example, could be other currency) has no limit, nothing scarce, it has value because people believe in it, it has history and is issued by an entity that is loosing the trust once had.

In the other hand, any crypto currency is limited, it's scarce, it's been almost 10 years since the creation and you can trust the technology.

Why is this still not worth trillions ?
It's not worth trillions because people don't care enough to invest trillions into it for fuck's sake. If there was a demand to justify it being in the trillions then it would be there by now, however it is not valued beyond $2,8XX as I type this right now, so there is only a demand for it which makes it worth $2,8XX. This is a simple lesson about economics and it should be blatantly obvious but apparently stuff like this is too complex now.
Quantumplation
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June 09, 2017, 09:27:51 PM
 #23

Maybe a repeated question ? Not sure...

Just simple economics, no need to get very deep into this question.

USD (as an example, could be other currency) has no limit, nothing scarce, it has value because people believe in it, it has history and is issued by an entity that is loosing the trust once had.

In the other hand, any crypto currency is limited, it's scarce, it's been almost 10 years since the creation and you can trust the technology.

Why is this still not worth trillions ?
There is not that many people in Bitcoin that most people think there is. If a tenth of the worlds population tried to use Bitcoin and were holding the coins then the price of Bitcoin would be very high. The same goes for other Cryptocurrencies that are out there since more people will put money into it.

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pixie85
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June 09, 2017, 09:39:13 PM
 #24

Fiat isn't in a bubble it's dying eaten by a cancer. That cancer is inflation.
Every year you hold your fiat there's less and less that you can buy with it. Bitcoin on the other hand... Just look at the charts Cool

Hydrogen
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June 09, 2017, 09:40:39 PM
 #25

The concept of fiat being a bubble is linked to the deficit and what happens historically when governments default on debt.

If the united states defaults, hyperinflation will occur and the value of the dollar will plummet through the floor.

In that happens, it may be fair to say: fiat is a bubble.

This could be reflected in japan, australia, russia, china & many other foreign countries abandoning the dollar as a reserve currency while embracing bitcoin & crypto instead.

Foreign powers embracing crypto while ridding themselves of dollars they were holding could be considered evidence: fiat is a bubble.

Like Leonardo Decaprio and Kate Winslet fleeing the titanic, everyone abandons the sinking fiat ship before it sinks.

MingLee
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June 09, 2017, 09:58:41 PM
 #26

Everything is a Bubble if you look at it from another currency perspective. I'm a firm believer that fiat is not money but rather something that the government uses to keep their grasp over the citizens as a form of invisible taxation.

And whilst I believe bitcoin will be bullish in the long run, as fiat collapses, I still do think that bitcoin right now in the short term has grown too much to be sustainer and not to be called a Bubble.
Fiat is just a means of control, it's good to see you know this. It's meaningless paper that is given to you in exchange for your work; it has no real value beyond what the government says. If the entire system collapsed tomorrow then there would be a grand total of zero ways to get your work value back.
"Industrial Society and its Future" is an interesting read. In a way I hope it all comes crashing down so we can get some meaning in our lives again instead of the drones the governments encourage us to be.
It might have all been a mistake.
freeyourmind
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June 09, 2017, 10:06:37 PM
 #27

There are forced transactions on fiat currencies (like the USD) which artificially increase demand substantially.
[snip]

Fiat reserve currencies are violently enforced throughout the world. The USD reserve currency is the enforcer for all central banking systems even in far-away remote countries...because the USD-fiat authorities set the rules for things like AML/KYC and even if a small tiny irrelevent bank in another country does not comply, they are cutoff from any inter-bank remittances (and or the SWIFT network for wires) and thus shut down over time.

Violently enforced through bombs, conflicts, economic sanctions (your people will starve), financing of wars, financing of international defense contractors or construction, freezing of assets, closure of financial institutions.

Coercion has kept the game going in the past, ...but will it work in the future?

Bitcoin has emerged as the proven store of value that is honest with an immutable ledger that cannot be corrupted.

Most other cryptocurrencies, >90%+ of them are scams or temporary pumps or combination of both that offers little novel value to the world.

Just give it 10 more years when the Fiat Fakers wake up and smell the coffie and put some of those corupt powers they bought against Bitcoin then lets see how it survives when they say you need a "aproved" laptop, aproved "internet". Trust me they can crush BTC right now they are not aware of the threat to their fake evil system when they become aware they fight dirty and will crush BTC i'm 99% sure!

Since the crypto market is a relatively free market, I feel that even if the fiat overlords attempt to take out a crypto by buying it out, there is nothing stopping another one being created again for the people.  Old banking vs. new tech.
btccashacc
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June 09, 2017, 10:40:38 PM
 #28

We all know that cryptocurrency is a bubble not the fiat since it backed by the government and they won't let their currency being volatile like crypto. One thing that make crypto in this case is bitcoin better than fiat is it's a deflationary currency well i think inflation is the major problem for the fiat, they the government are working so hard to controll their inflation as we can see there are many countries have been suffering from inflation for a long time.
Hydrogen
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June 09, 2017, 10:53:18 PM
 #29

Fiat is just a means of control, it's good to see you know this. It's meaningless paper that is given to you in exchange for your work; it has no real value beyond what the government says. If the entire system collapsed tomorrow then there would be a grand total of zero ways to get your work value back.
"Industrial Society and its Future" is an interesting read. In a way I hope it all comes crashing down so we can get some meaning in our lives again instead of the drones the governments encourage us to be.
It might have all been a mistake.

Correct.   Wink

We all know that cryptocurrency is a bubble not the fiat since it backed by the government and they won't let their currency being volatile like crypto.

If a government defaults on its debt, as has happened numerous times in history, it doesn't matter what the government does

They could not prevent fiat from crashing anymore than they were successful in preventing the economic collapse of 2008.

Governments are not immune to effects of basic market mechanics & economics as the fall of the USSR as a superpower proved.

Sir Legend
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June 10, 2017, 03:56:47 AM
 #30

Marketcap cryptocurrency currently more than 100 billion USD, and we've not been able to say this is a bubble, this is the real business and everyone will be serious with cryptocurreny.

thank you
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