Why economists say Bitcoin a bubble

[matuson]

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?

Its not new anymore in my ears on where those economist would always target bitcoin and saying up things like this that it is a bubble.Most of them would really say such thing because bitcoin doesnt rely on something and its not being backed by something which when they saw up the price do rise up a lot they do already consider it as a bubble without even thinking that such price increase isnt being built by hype but just a pure support of the community.

As the price can climb up yourself? Needed for this reason. Support of the bitcoin community is the word. If we imagine that bitcoin is a joint stock company that his life depends on the owners of the principal amount of coins or shares. It's like someone more comfortable. It seems to me that 90% of the coins from whales. It all depends on their actions. They control the market and successfully manipulates him. If bitcoin is not a bubble then what is he?

[anhhung409]

It can explode at any time like a bubble, and it's almost impossible to predict so always be careful in investing.

[bncbnc]

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?

Its not new anymore in my ears on where those economist would always target bitcoin and saying up things like this that it is a bubble.Most of them would really say such thing because bitcoin doesnt rely on something and its not being backed by something which when they saw up the price do rise up a lot they do already consider it as a bubble without even thinking that such price increase isnt being built by hype but just a pure support of the community.

As the price can climb up yourself? Needed for this reason. Support of the bitcoin community is the word. If we imagine that bitcoin is a joint stock company that his life depends on the owners of the principal amount of coins or shares. It's like someone more comfortable. It seems to me that 90% of the coins from whales. It all depends on their actions. They control the market and successfully manipulates him. If bitcoin is not a bubble then what is he?

Yes bitcoin need a big support from its users. Bitcoin is depending on the interest of the people. if people will remain as interested in bitcoin. then no doubt that bitcoin will continue to become more and more popular and its future will be as much more secure. In present time i think there i no doubt that bitcoin has a big support form its investors side, because even after hardfork they are not letting the price fo bitcoin down in any condition.

[hurain]

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?

Its not new anymore in my ears on where those economist would always target bitcoin and saying up things like this that it is a bubble.Most of them would really say such thing because bitcoin doesnt rely on something and its not being backed by something which when they saw up the price do rise up a lot they do already consider it as a bubble without even thinking that such price increase isnt being built by hype but just a pure support of the community.

As the price can climb up yourself? Needed for this reason. Support of the bitcoin community is the word. If we imagine that bitcoin is a joint stock company that his life depends on the owners of the principal amount of coins or shares. It's like someone more comfortable. It seems to me that 90% of the coins from whales. It all depends on their actions. They control the market and successfully manipulates him. If bitcoin is not a bubble then what is he?

Yes bitcoin need a big support from its users. Bitcoin is depending on the interest of the people. if people will remain as interested in bitcoin. then no doubt that bitcoin will continue to become more and more popular and its future will be as much more secure. In present time i think there i no doubt that bitcoin has a big support form its investors side, because even after hardfork they are not letting the price fo bitcoin down in any condition.

I think that the interest of the people in bitcoin is already increasing. In my area in very beginning the bitcoin users were not so much  but now with the passage of time their number is increasing. and hope that very  soon all the people of the world will be using bitcoin, because bitcoin is the need of the day and will be using as fiat currency for everything, for which we are using fiat currency.

[Bitcoinjheta]

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?

Its not new anymore in my ears on where those economist would always target bitcoin and saying up things like this that it is a bubble.Most of them would really say such thing because bitcoin doesnt rely on something and its not being backed by something which when they saw up the price do rise up a lot they do already consider it as a bubble without even thinking that such price increase isnt being built by hype but just a pure support of the community.

As the price can climb up yourself? Needed for this reason. Support of the bitcoin community is the word. If we imagine that bitcoin is a joint stock company that his life depends on the owners of the principal amount of coins or shares. It's like someone more comfortable. It seems to me that 90% of the coins from whales. It all depends on their actions. They control the market and successfully manipulates him. If bitcoin is not a bubble then what is he?

Yes bitcoin need a big support from its users. Bitcoin is depending on the interest of the people. if people will remain as interested in bitcoin. then no doubt that bitcoin will continue to become more and more popular and its future will be as much more secure. In present time i think there i no doubt that bitcoin has a big support form its investors side, because even after hardfork they are not letting the price fo bitcoin down in any condition.

I think that the interest of the people in bitcoin is already increasing. In my area in very beginning the bitcoin users were not so much  but now with the passage of time their number is increasing. and hope that very  soon all the people of the world will be using bitcoin, because bitcoin is the need of the day and will be using as fiat currency for everything, for which we are using fiat currency.

I don't think bitcoin is a bubble as economist say, although respect its a one way criticism by them. Why because most of the economist there money are run through fiat. They defend what ever happened just to make sure all the people will no longer trust to the digital currency or cryptocurrency.

[nethan1btc]

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?

Its not new anymore in my ears on where those economist would always target bitcoin and saying up things like this that it is a bubble.Most of them would really say such thing because bitcoin doesnt rely on something and its not being backed by something which when they saw up the price do rise up a lot they do already consider it as a bubble without even thinking that such price increase isnt being built by hype but just a pure support of the community.

As the price can climb up yourself? Needed for this reason. Support of the bitcoin community is the word. If we imagine that bitcoin is a joint stock company that his life depends on the owners of the principal amount of coins or shares. It's like someone more comfortable. It seems to me that 90% of the coins from whales. It all depends on their actions. They control the market and successfully manipulates him. If bitcoin is not a bubble then what is he?

Yes bitcoin need a big support from its users. Bitcoin is depending on the interest of the people. if people will remain as interested in bitcoin. then no doubt that bitcoin will continue to become more and more popular and its future will be as much more secure. In present time i think there i no doubt that bitcoin has a big support form its investors side, because even after hardfork they are not letting the price fo bitcoin down in any condition.

I think that the interest of the people in bitcoin is already increasing. In my area in very beginning the bitcoin users were not so much  but now with the passage of time their number is increasing. and hope that very  soon all the people of the world will be using bitcoin, because bitcoin is the need of the day and will be using as fiat currency for everything, for which we are using fiat currency.

Bitcoin is profitable so far, that's why many people slowly get interested and involved of it, it is not used in the real economy as a means of payment because it is decentralized as we know.. Even when it looks like it is, it is only imaginary because all bitcoins you pay for goods or services get instantly converted to fiat by payment processors.

[zhelis74]

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?

Its not new anymore in my ears on where those economist would always target bitcoin and saying up things like this that it is a bubble.Most of them would really say such thing because bitcoin doesnt rely on something and its not being backed by something which when they saw up the price do rise up a lot they do already consider it as a bubble without even thinking that such price increase isnt being built by hype but just a pure support of the community.

Economist say that bitcoin is a bubble since it is a decentralized system and even though how high is the value that bitcoin reach then it is still a bubble for them because it is not being back up by any authority of the government.

[Sadlife]

The thing is about this economist's are they dont know what and how bitcoin truly is or truly works they see it as an asset for investment but it can also performed well in sending and receiving transactions. Bitcoin already graduated from bubble and volatility the price in not just a hype but stable as it is invested by institutional investors, countries adapted it, good developers with millions of support with its open soure platform and merchants using it as payments for online or offline payments.

[BunnyShibe]

Free market economists don't have any issue with Bitcoin, buy yeah some other economists are sceptical about Bitcoin and you really can't blame them. We haven't seen something like Bitcoin before, but taking its exponential growth into consideration and applying well-established empirical and theoretical studies, some economists conclude that Bitcoin is a bubble. At the same time some of them don't ignore the possibility that large-scale Bitcoin adoption would weaken the centralized financial system.

Nobel Prize winning economist Milton Friedman who extolled the virtues of a free market economic system and believed in complete economic freedom predicted something exactly similar to Bitcoin about 18 years ago.

I think that the internet is going to be one of the major forces for reducing the role of government.

The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the internet you can transfer funds from A to B, without A knowing B or B knowing A.

When Bitcoin is finally here, some economists do really have a hard time grasping it.

https://www.coindesk.com/economist-milton-friedman-predicted-bitcoin/

The economist call the bit coin as bubble because they don’t believe in bit coin prices as the very fast speed of fluctuation of prices but they cannot ignore the fact that the fast growing bit coin rates will definitely affect the centralized economy of the country.

[Superzpay]

They must have their own reasons to think or say like that about Bitcoin. Their business is not based on Bitcoin, nor they have any investments in Bitcoin, so they get nothing nor they lost anything by saying something good or bad about Bitcoin to anyone, so the better is not to listen what they say. But to be honest, maybe what they say is not totally senseless, since Bitcoin is just a digital currency, though it has been around for a lot of time now and it has gained a very large number of users by now, and price it has is also to be mentioned, but beyond all that, we should always keep in mind that Bitcoin is not really backed by anything or anyone. If, lets assume, Bitcoin drops its value like hell and become worthless in a year or so, i know it doesn't sound realistic but if it can grow so rapidly it can drop like that as well, so if something like that happens, who will the people blame? Where will they go? What will they do? Since it all revolves around internet without any person or authority associated with it, we can only sit and cry over our losses if something like that happens.

Many people have been saying nonsense about bitcoin. I don’t know why they specifically target bitcoin, why not any altcoins? Those can also be thought of as a bubble. Not all the economists think it is a bubble but those who have passed such statements are either unable to understand the new technology or are puppets of government. Whatsoever the reason is, bitcoin is not a bubble and it is the future of our money.

[Shishir99]

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 economists can not explain bitcoin or it's growth by a typical economical theory.
Bitcoin is creating a new era of economy.
It is changing the economics and monetary policy.
It's value is not decreasing because people have high demand and it has very little limited supply compared to fiat.

[Nameless27]

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?

Economic experts mostly have biases. They have the tendency to lean to the one supposed who have the ability and resources to pay for they’re service. Bitcoin will never give money and support to them because there is no one to represent it, not like our banking/financial institutions who is organized and have a team dealing and paying experts to they’re advantages.

[Sled]

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?

Economic experts mostly have biases. They have the tendency to lean to the one supposed who have the ability and resources to pay for they’re service. Bitcoin will never give money and support to them because there is no one to represent it, not like our banking/financial institutions who is organized and have a team dealing and paying experts to they’re advantages.

Most of the economic experts are like that. They are just getting paid to tell their biased opinions or predictions about a certain thing like in bitcoin that most of the economic experts and some of the people that has a big name tend to say negative things about bitcoin and that is why the price of bitcoins changes but it doesn't mean that because of the volatility, the bitcoin is already a bubble because being volatile is just common in bitcoin.

[nexus2k14]

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?

Anything that rise in price dramatically can be called a bubble. Property market, stock share and now Bitcoin. Economist may say that, but I am not 100% sure if they really understand enough about cryptocurrency. Bitcoin may not be backed by gold, but compared to dollar there is big difference - mine 1 BTC cost 1000$ according to John McAfee, and print 1000$ cost how much? Ink + paper in short.
Bitcoin is not backed by gold, but have limited supply, cost money to mine, and for sure will hold and increase in value.

Governments dislike Bitcoin because is not controlled by them. Banks hate because is competition. Economist try to evaluate but there is nothing like this to compare and maybe that why is for them hard to say anything good so they follow books rules and call it a bubble.

[jekjekman]

Economists say what they think that is right and they see Bitcoin as a bubble because it grows so rapidly in just 12 months, when you invested a $100 of your money exactly 1 year from now you will get times 10 of it so you will be getting a $90 profit and there is no such legitimate things can do that nowadays except cryptocurrencies and for me that is the main reason economists said that.

Imagine you invested in year 2010 with Bitcoin and you will be so shock with the massive growth of your money with this year Bitcoin's price, this is a revolutionary digital currency that is making history and people who are telling positive and negative things about it is just normal as there is no thing that is perfect.

[fiulpro]

I don't think they call it a bubble because of massive price surge as everyone said, what I feel is that like how fragile the bubble is...how easily it inflates and suddenly brusts is what they are saying about, meaning bitcoins attains high price suddenly and suddenly their price decreases a big deal. This sudden fall and rise is what makes them compare the bitcoins to bubble

Anyways don't think about the economists what they say , what they write they promote their companies , MNC's ,banks and all they won't give you an honest opinion ever except for one or two out there.

[fasdorcas]

if that was the opinion of the economists, then i think he is wrong. I don't believe bitcoin is like a bubble, because if so, why do rich people keep investing in btc? and why lot of people become rich because of btc?

Same here I am not having the thinking about the bitcoin like this because the bitcoin is the simple and the value will give us the high facility indeed. The bitcoin is increasing in the power and the people who are saying the bitcoin is the bubble and the bitcoin will disappear in the future but the according to me the bitcoin is the best source of the income and it will be more famous in the future.

[pearlmen]

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?

If you actually speak to big economists they should have given you the reason why they are concluding that bitcoin is a bubble because from the way I see it, it seems you are wanting us to give a reason for their own conclusion which does not work that way. The argument they put forward with reasons is what we can either agree with our disagree with our own fact as well. Either way, whatever their reasons are, I am sure its not informed.

[ajmapalo22]

This crypto currency is really making a news today because of sudden pump I understand why economist thinks that bitcoin is a bubble imagine from $2700 in few months it reaches to $6200 this thing no other kind of investment can offer the same. Economist believe that the higher the return is to have a higher risk of failure. Maybe in few years after bitcoin became stable economist will soon believe in bitcoin an its capacity to appreciate this big.

[Opquar]

This crypto currency is really making a news today because of sudden pump I understand why economist thinks that bitcoin is a bubble imagine from $2700 in few months it reaches to $6200 this thing no other kind of investment can offer the same. Economist believe that the higher the return is to have a higher risk of failure. Maybe in few years after bitcoin became stable economist will soon believe in bitcoin an its capacity to appreciate this big.

This puts it extremely well. This type of growth has never been seen before, so it makes people who believe such a rise is impossible think that it is a bubble. There is a first for everything, and I believe this growth to be sustainable.