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Author Topic: Why economists say Bitcoin a bubble  (Read 3577 times)
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October 22, 2017, 03:37:20 PM
 #1

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

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October 22, 2017, 04:02:10 PM
 #2

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

A bubble is a bubble when something is overbought, it is that simple. Is bitcoin overbought right now?
With a supply of 21 million (not considering lost BTCs), with all the brightest minds working on it, with the strongest network, and with a marketcap that is still very small compared to what a global 24/7 market like bitcoin is could deliver.... then no, I don't think we are anywhere near a bubble. Corrections will come and go, that doesn't mean we were in a bubble.
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October 22, 2017, 04:14:55 PM
 #3

Big economists from the popular magazines? I don't think that is correct to listen to them. They have to say you what they should. The market of the cryptoeconomics is really small right now. There are much more hype about bitcoin for sure right now than in 2015-2016 but it doesn't mean that bitcoin in bubble. It indicates more interest around but he can growth much bigger. Enough space for that in the markets. I will start think about bubble when the market become more that 2-3 thrillion.

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October 22, 2017, 04:27:26 PM
 #4

You talked to big economists? Sure. Well anyway, these economists run their businesses on fiat currencies and banks. It would very much make sense if they keep saying that bitcoin is a bubble. Just don't worry and don't listen to articles from mainstream media and magazines. We are nowhere near a bubble.
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October 22, 2017, 04:29:09 PM
 #5

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?
Then they are people for whom value is determined only through a material look at the world, because the bitcoin and its value as well as itself are only in our mind and the numbers on the Internet, from that you can easily understand the doubt of many people.


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October 22, 2017, 04:33:50 PM
 #6

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

In future fiats will be consider as bulge puss in the body. Bitcoin is the next generation currency which is gonna be use in the time we use the robots in everywhere in the office and residential place.
Gold is been used from the long long ago but bitcoin is just 8 years in the market and value, demand and supply out the world. In 100 years bitcoin will rule all the aspects of financial circle.

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October 22, 2017, 04:37:28 PM
 #7

They say it because it is so.
Bitcoin is empty and the bigger it become,the more it is hollow.
The more it is like a bubble.
And you know what a bubble generally does?

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October 22, 2017, 04:48:11 PM
 #8

Economist's thought are based on fiat instead bitcoin is different things and it's not from their world. But of course they can share their opinion about bitcoin technically.
For what I can say that bitcoin is unique and it will keep amaze people from time to time !

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October 22, 2017, 04:51:05 PM
 #9

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?

I think they were right, bitcoin can be a bubble, and we all are in that bubble. They have the basis to prove it. However, it is important, how this bubble works, if it can grow properly, it will never break.

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October 22, 2017, 05:08:05 PM
 #10

I talk to big economists they say Is only a Bubble my thought Is no bitcoin Is revolution of economy even doesnt have a background like gold the value Is power of the people what do you think?
I agree with their saying that bitcoin is a bubble but what about fiat? I think its a bigger bubble than fiat. Bitcoin is backed by a block. Each block which cannot be destroyed. But fiat? What is it backed with? Just a promise by a central bank? It is much larger and softer bubble which is going to burst soon.

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October 22, 2017, 05:45:50 PM
 #11

Economists say Bitcoin is a bubble, because it is. Have you checked the price chat recently? Bitcoin is going through the roof and is bound to crash at any time. I give it a month at most.



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October 22, 2017, 06:00:35 PM
 #12

From what I have learn with my economics class a bubble or an asset bubble is an overpriced asset in which it is priced more than what it is really worth. Right now Bitcoin's price is based on nothing else but the consumer's demand compared to other assets where you can analyze other financial factors to base your buying and selling decisions. Bitcoin's price is really high to be called a currency right now as it exceeds every Fiat currency out there.

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October 22, 2017, 09:11:51 PM
 #13

From what I have learn with my economics class a bubble or an asset bubble is an overpriced asset in which it is priced more than what it is really worth. Right now Bitcoin's price is based on nothing else but the consumer's demand compared to other assets where you can analyze other financial factors to base your buying and selling decisions. Bitcoin's price is really high to be called a currency right now as it exceeds every Fiat currency out there.
But i think it is not what we can say about bitcoin. In fact bitcoin has more potential than the price in which it is trading. i think that in future we can expect that bitcoin price will increase more and more, therefore i do not think bitcoin is a bubble. Bitcoin is in fact trading in its original price and hope that in future bitcoin price will increase more because people are still investing money in bitcoin, and this trend will even continue for a long long time.
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October 22, 2017, 09:46:17 PM
 #14

Economist simply says Bitcoin as a bubble because of its highly volatile factor, which clearly shows that price can skyrocket in a very short time and may fall even more less time, creating a crash in the market. Due to such instability factors Economist compare it with Bubble, but that was the factor in fiat currency. In Bitcoin price is dependent upon demand and supply factors, there might be quick ups and downs but it always stable itself and surpasses every situation.

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October 22, 2017, 09:50:47 PM
 #15

A bubble is when an asset is tremendously overvalued in relation to its fundamental metrics under circumstances where a sharp and imminent decline in value is expected as a natural correction based on market mechanics.

The reason the bubble argument may not be a good criticism of bitcoin involves bitcoin's growth. Its userbase doubles every 12 months. There is a sharp increase in the volume of transactions which could also be indicative of high growth.

For an analogy, imagine if microsoft's userbase doubled every 12 months. That could mean twice as many copies of microsoft windows would be sold every 12 months which would likely be accompanied by a massive percentage gain in their stock price. Bitcoin's growth potential for the future is extremely high. Growth projections factor heavily into the discussion of whether crypto is a bubble and as of yet there isn't anyone who is addressing this.

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October 22, 2017, 09:54:04 PM
 #16

because those financial gurus thinks that they always have the reason of everything that involves money, but probably they are right in saying that bitcoin is a bubble, because it is, and we can not deny it.
But if this is a bubble, then we will never know when it is going to explode, because we can still make money from and it and we know that this is profitable for the majority of us.
So why would we stop earning through it? I wont pay attention to them until i see that the price is exploding, otherwise, i will still use bitcoins.


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October 22, 2017, 10:49:34 PM
 #17

They might be economists, but not everything they know about fiat currency doesn't actually applies in cryptocurrency, especially bitcoin. Don't take their word for granted.
Having said that, they say it is a bubble because of the fluctuation of bitcoin and how volatile it can be.
But to be honest, seeing this type of statements from economists, CEOs, and banks, makes me think that they know the threat bitcoin can become in the future, a threat to their shady "business" that they do behind the scenes, and that's what scares them. My advice: don't pay attention to these people.

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October 22, 2017, 10:55:51 PM
 #18

I dont think they understand bitcoin and what it truly is. If they did they may not say it is in a bubble. But because people see a massive surge up and no massive surge down they assume it is in a bubble. Bitcoin will be in a

"bubble" for the next 5-10 years you watch. I wonder when it will pop Roll Eyes

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October 22, 2017, 11:30:46 PM
 #19

Economists say that Bitcoin is bubble because we don't know exacly how much Bitcoin is worth. Currently we can't use Bitcoin in common shop, only in internet but also in not much shops. So the pirce 6000$ for current day is in their pinion way too much and it is understandable. People strongly believe in world change that crypto will be the main medium of exchange. And in such case the price 6000$ per 1BTC would be a pretty good looking occasion but as i say it depends of your perceive.
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October 22, 2017, 11:32:36 PM
 #20

They say that it is a bubble because of the volatility of the price and the massive price increase. Whenever there is a massive surge of price increase or price drop, someone out there says that bitcoin is a bubble. People have been saying that it is for years already yet bitcoin remains to be strong and has gone through a lot such as hard forks and FUDs.

It is true that the popularity of bitcoin has increased for this year as compred to the past year but it does not mean that it is a bubble. Some indicators may make bitcoin seem to be like a bubble, but that does not justify it. Bitcoin still has plenty of potential to grow.
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