Bitcoin Buzz: Get Rich Quick Without Working

[iamTom123]

Ray Dalio, one of the most successful hedge fund managers, said "I'm highly skeptical about cryptos. I'm not convinced that virtual currencies are worthwhile investments, although I think they are good ideas conceptually."

Daliosaid Bitcoin is in a bubble. My take is that cryptos are prone to over-speculation and not transparent enough yet to tell who's trading them and why. Who really knows how inflated crypto prices are? We don't have baselines like price/earnings or price/book ratios for them.

Nevertheless, the entire money management universe from big banks to lonely guys with laptops are gaga over cryptos. Nearly everyone wants a way to get rich quick without working. That's the Bitcoin buzz.

This is taken from Forbes.com here.

Bitcoin being on a bubble has been discussed on this forum maybe since from the very beginning that Bitcoin started to get traded on exchanges. Some are saying that we have to be careful as sooner than expected Bitcoin can crash just like a big balloon that popped to the dismay of its myriad of enthusiasts, holders and supporters. While on the other side of the fence, there are those who are just shrugging the warning and even positing the idea that critics of Bitcoin do not have any basic understanding of how this whole thing is operating and is basing on.

There is no question that the interest or buzz that Bitcoin generated for the many years has had been tremendous and maybe this can be the big reason why some people are issuing us the unneeded warnings and analysis being Bitcoin as the biggest bubble of the decade and even calling it as just another pyramid or ponzi fraud.

Now, having said those things, do you agree that we in the Bitcoin community are just a bunch of people all excited for Bitcoin that can be giving us the riches we don't actually deserve? That we are just actually toying with a get-rich-quick-scheme called as Bitcoin?

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[dothebeats]

Well I don't remember not working for the money that I use to buy bitcoins so I'm not sure where does that statement come from. The biggest misconception about bitcoin is it's a get-rich-quick thing and no extensive research is needed for you to gain anything, and that's how people lose their money. Also, the bubble talks have been around for years ever since bitcoin gained value, so somehow I'm getting used to seeing several prominen names in the finance industry to comment such about bitcoin.

[BitcoinHodler]

all i can say is that some people LOVE to call bitcoin a bubble. it really doesn't matter what the price is, why it is there, how low or high it is,... they just close their eyes and call bitcoin a "bubble".

i don't really remember this but i wouldn't be surprised to find out that some of the same people were saying bitcoin is a bubble back when price went down to $150 back in 2014!

the funny thing is that real economists say you can not call something a bubble until it bursts and price comes down.

Because it is often difficult to observe intrinsic values in real-life markets, bubbles are often conclusively identified only in retrospect, once a sudden drop in prices has occurred

[tweetbit]

Bitcoin is not a bubble. I work with it and not sitting just like a bunch of lazy scammed individuals. Let those who judge us stays what they up to and in the long run they will find themselves as a child who knows nothing but thinking negatively about cryptocurrency. And let just profit for what we believe in for now and what might future brings is for the future to decide.

[sindikat]

Bitcoin is not a bubble. I work with it and not sitting just like a bunch of lazy scammed individuals. Let those who judge us stays what they up to and in the long run they will find themselves as a child who knows nothing but thinking negatively about cryptocurrency. And let just profit for what we believe in for now and what might future brings is for the future to decide.

Why are you sure that bitcoin is not a bubble? All the signs of a bubble bitcoin does exist. You don't want to believe it because it brings you an income. But that is no reason to lose vigilance. When people think that they invest in bitcoin is wrong. They speculate on volatility. Bitcoin does not stimulate the production and it is alarming.

[okae]

all i can say is that some people LOVE to call bitcoin a bubble. it really doesn't matter what the price is, why it is there, how low or high it is,... they just close their eyes and call bitcoin a "bubble".

Agree, but maybe is because they are doing the opposite while they say it i mean, just look at latest news from all those big sharks of wall street... they was saying bad things about bitcoins while they buy more and more in the shadows...

Soon or later this "game" will end, and bitcoin could reach the amount that it deserve and i think that it will be higher than most of the people are thinking...

[cryptosaly]

Yes this is correct right now if any market leader say bad about bitcoin ,I observe the market and make a purchase on the dip.This is my plan.Cause as per i understand every market leader saying bad about bitcoin only because so that they them self can buy it at low price.
So my suggestion is to please listen to them and do exactly the opposite they are saying...

[talkbitcoin]

Some are saying that we have to be careful as sooner than expected Bitcoin can crash just like a big balloon that popped to the dismay of its myriad of enthusiasts, holders and supporters.

that is only if you assume everyone is going to completely leave bitcoin to rot. even with manipulation and dumps and panic sells and all the fear that all these cause, there will always be so many more who ignore all and buy bitcoin.

there is strong demand for bitcoin that is not going anywhere. yes there may be a big drop but it won't be a "crash just like a big balloon that popped". metaphors like these are only used to cause panic.

[Zalfa_mui]

Yes this is correct right now if any market leader say bad about bitcoin ,I observe the market and make a purchase on the dip.This is my plan.Cause as per i understand every market leader saying bad about bitcoin only because so that they them self can buy it at low price.
So my suggestion is to please listen to them and do exactly the opposite they are saying...

I agree with you, now in my country the government forbids the use of bitcoin, I can only listen to it. because they are just people who don't understand about bitcoin. hopefully bitcoin continues to grow and in the use of many people.

[Alphagog]

Ray Dalio, one of the most successful hedge fund managers, said "I'm highly skeptical about cryptos. I'm not convinced that virtual currencies are worthwhile investments, although I think they are good ideas conceptually."

Daliosaid Bitcoin is in a bubble. My take is that cryptos are prone to over-speculation and not transparent enough yet to tell who's trading them and why. Who really knows how inflated crypto prices are? We don't have baselines like price/earnings or price/book ratios for them.

Nevertheless, the entire money management universe from big banks to lonely guys with laptops are gaga over cryptos. Nearly everyone wants a way to get rich quick without working. That's the Bitcoin buzz.

This is taken from Forbes.com here.

Bitcoin being on a bubble has been discussed on this forum maybe since from the very beginning that Bitcoin started to get traded on exchanges. Some are saying that we have to be careful as sooner than expected Bitcoin can crash just like a big balloon that popped to the dismay of its myriad of enthusiasts, holders and supporters. While on the other side of the fence, there are those who are just shrugging the warning and even positing the idea that critics of Bitcoin do not have any basic understanding of how this whole thing is operating and is basing on.

There is no question that the interest or buzz that Bitcoin generated for the many years has had been tremendous and maybe this can be the big reason why some people are issuing us the unneeded warnings and analysis being Bitcoin as the biggest bubble of the decade and even calling it as just another pyramid or ponzi fraud.

Now, having said those things, do you agree that we in the Bitcoin community are just a bunch of people all excited for Bitcoin that can be giving us the riches we don't actually deserve? That we are just actually toying with a get-rich-quick-scheme called as Bitcoin?

https://specials-images.forbesimg.com/imageserve/38256820/960x0.jpg?fit=scale

Well in my opinion it’s not true and even its not possible that without work you can be a rich you need to work hard in any field even if it is a gambling because this a rules to be a rich and specially in bitcoin because from bitcoin you can earn by daily trade or from investment and both of them need hard work if you will work you can get reward otherwise there is no chance.

[tweetbit]

Bitcoin is not a bubble. I work with it and not sitting just like a bunch of lazy scammed individuals. Let those who judge us stays what they up to and in the long run they will find themselves as a child who knows nothing but thinking negatively about cryptocurrency. And let just profit for what we believe in for now and what might future brings is for the future to decide.

Why are you sure that bitcoin is not a bubble? All the signs of a bubble bitcoin does exist. You don't want to believe it because it brings you an income. But that is no reason to lose vigilance. When people think that they invest in bitcoin is wrong. They speculate on volatility. Bitcoin does not stimulate the production and it is alarming.

Then are you sure it is a bubble? (vice versa). Then in first place if you don’t believe about bitcoin and not trusting it, why are you here? Is this hypocritical at its best. Learn to understand, that is my opinion and before you quote my post you need to prove yourself worth on demanding an explanation. Then if your alarm how bitcoin works is it time for you to back up your things and work on the real world instead of earning on Signature Campaign.

[orarider]

Maybe we are in a big bubble, however, with bitcoin, this is a living bubble, it really grows up and grows, it's not like the form of rogue, it's like a money really bad. And using it as a way to get rich is what we should do.

[endlasuresh]

All i can say is that some people LOVE to call bitcoin as a  bubble. it really doesn't matter what they call, but may be these guys are looking to invest into Bitcoin by hiding their faces. Bitcoin is not a bubble as it stayed for years so it won't burst, but prices may be dropped, however the price will be high in next year too.

A lot of people had moved to Bitcoin and started to invest their time and money for bright future. These people may had some opposite business, that's why they are calling Bubble. A bubble means when it becomes bigger will get burst, but Bitcoin is not bursted from years.

[paradise123]

Bitcoin is a bubble or not, no one really knows for sure but everyone has his own opinion about it. But it the moment Bitcoin is a rising star of digital world. And getting quickly wealthy through Bitcoins is not a bad idea but who ever says it have never try to earn Bitcoins. Earning Bitcoins mostly required patience and time, and as they says, " time is money". So giving your most time to earn Bitcoins is investments.

[Jaya912]

I dont believe if people can be rich without working in bitcoin. They not just sitting like joining scam ponzi company. They were thinking a lot and analyze in bitcoin. They work so hard too becore getting any profit. Work not always offline.

[jamescloudynieze]

nooo , it is not a bubble,I work with it and not sitting just like a bunch of lazy scammed individuals.

[Nawaytes]

I disagree with the person who says that bitcoin is just a ponzi scheme, we got money without work? no dude, trading is a job, bitcoin/crypto mining is a job and there is money to be spent for that. Why bitcoin that has a sophisticated network be regarded as a ponzi scheme? I can't believe it. That person it's just an old man who doesn't want a technological upgrade, or maybe he is a bank owner.
Simple logic: If bitcoin is a money game, then miners should not get anything from their mining tools.

[Crypto_trader87]

I dont believe if people can be rich without working in bitcoin. They not just sitting like joining scam ponzi company. They were thinking a lot and analyze in bitcoin. They work so hard too becore getting any profit. Work not always offline.

U agree with you if you invest realy in bitcoin obcourse you have to work for it study hard analize the price everyday watch some videos to learn something about bitcoin in that case you still working for it

[karmic_konquest]

I'm skeptical about bitcoin being a bubble, so I've split my money between bitcoin and ethereum for now. A lot of people and indicators say a crash is incoming. Maybe it'll be a harsh consolidation of prices at best. Only time can tell.