Why economists say Bitcoin a bubble

[TheMojo1]

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?

Because it is virtual money without taxes so that government will not support it .

Most countries Ban bitcoin that make it hard to exchange

[xaviervilla]

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?

Lol. You sure are a big guy to be abke to talk to big economists are you?
Well, these economists that you speak of are people who know little to nothing about how crypto currencies work. These people often base their worthless opinions on baseless rumors or hear says. Although this may not always be the case, these are most likely what happens. And those people whi really does know a lot about crypto currencies often say bullsht about bitcoins because they want to decrease the people using it and about to use it. Either because of wanting to buy at lower prices or because they run businesses that are mainky ran buy fiat and banks themselves.

That is what i think.

[Freshmen]

Actually not all economist are believing in crypto. Maybe that economist is against bitcoin and he/she tell something about bitcoin that it won't really happen in real life. As bitcoin is already making a great history in the blockchain, I don't think that it would lost its value in the market.

One of the reason why people or govt does believe that it is bubble because you do not get anything in physical form. Everything is virtual. As its a virtual any day it can get wiped out and your hard earned money if invested will be gone away due to which they feel the fear and say it a bubble.

Lack of trust maybe. We have seen so much scams right here, every day that now, and people getting to start thinking of all the online jobs and everything through internet is just a scam. They are not ready to accept this virtual thing.

Like when you ask anyone about bitcoin, they first say, oh man get up. You have to be careful, it is all scam. Same happened on the wider level with bitcoin.

[BTCMILLIONAIRE]

Actually not all economist are believing in crypto. Maybe that economist is against bitcoin and he/she tell something about bitcoin that it won't really happen in real life. As bitcoin is already making a great history in the blockchain, I don't think that it would lost its value in the market.

One of the reason why people or govt does believe that it is bubble because you do not get anything in physical form. Everything is virtual. As its a virtual any day it can get wiped out and your hard earned money if invested will be gone away due to which they feel the fear and say it a bubble.

Lack of trust maybe. We have seen so much scams right here, every day that now, and people getting to start thinking of all the online jobs and everything through internet is just a scam. They are not ready to accept this virtual thing.

Like when you ask anyone about bitcoin, they first say, oh man get up. You have to be careful, it is all scam. Same happened on the wider level with bitcoin.

Just proves that people repeat things without checking or understanding them. Which is why I don't believe anyone anything, unless I understand it completely myself. Rather miss out on profits than trusting someone.

[micher143]

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.

  Economist or the people who have a control on some portion of economy may not believe on Bitcoin future in the first place , because the only currency theyve only rely on is the fiat or the dollar base currency where each circulation of their investment have an initial proportionality on every portion of their investments like tax and reform. They do not want to have an unsustainable matter in part of their economical investment becasue they do not know bitcoin system as a whole.

[frowsiter]

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.

Yes it’s economist on one side Nd the financial institutes which blame the bitcoin and its viability always. The day won’t be far as we say but I don’t understand how far it is because we are already seeing the breakthroughs of bitcoin that it has made recently. The price of 6K USD is not a joke and stil economist are believing that it’s a bubble. I mean economists are now looking like a joke to me. ;-) Anyway there was swift tech once and now is blockchain which legal authorities will accept in the future and will try to break the limits of application that bitcoin can do. Then we will talk about the bubble.

[krisnt80]

All people are living in the past when bitcoin were knowed by a few people wich made the price to reach 1200 dollars and then the price has just failed. Into those period bitcoin were a bubble, a few supporters and holders of bitcoin, now we do have a big enviroment and investment around bitcoin wonder where those economist keep saying its a buble, these days i saw at tv some economist talking about bitcoin and well he didnt knowed what he were talking about, its clear those people are afraid to acept and recognize bitcoin.

[DrGuns4Hands]

they're saying that btc is a bubble when the price difference in a year is so much. just like last year what is the price last year compared today its a big difference that's why more economist saying and predicting the price of bitcoin will goes up to $25000 5 years from now.

[waynechong1995]

Well in my opinion economist are mostly highly speculative when it comes to valuing goods, setting realistic prediction through modals and experience is what they are proficient at. It's no doubt that the surging price of BTC that went up 1000% in months are certainly off the charts when you observe any other economy in the world, i would take their words with a pinch of salt as they generally don't understand the backbone of bitcoin's success, the revolutionary block-chain technology that is capable to change and connect the world.

[Vannie12]

Maybe somebody says that  bitcoin is a bubble because it can be vanish it can be lost and it will not stay forever. Even the property that we have now, the money, the job or the oppurtunity that we have now it can be lost. That's why some of the economist say that bitcoin is a bubble but for me if bitcoin stay it will help a lot of people who wants to have a better live, they can give chances to other.So as long as bitcoin stays use the amount that we get or save it and spend it on the things that we can use in the near future for our family.

[ivrynx]

i think the reason why they are saying that bitcoin is a bubble, is they are trying to incorporate what they know from school into bitcoin, however they failed to study the economics f bitcoin itself, what they know is about the fiat and old economy, they haven't got any subject that will relate in today's economy. what i see, is that they are comparing bitcoin with the dotcom boom, since the relationship of bitcoin and the dotcom boom is technology and both uses internet, what they failed to see is comparing bitcoin with gold, since bitcoin is currency and not a tech company. they should also consider the fact that bitcoin can be used by all, and not just by where they live, we also have economists here, that are saying that bitcoin is a bubble, but if you take a look at the person's background, it is true, they are economists by profession, but they are not investors. it is sad to see that people who say that bitcoin is a bubble, haven't tried investing in bitcoin yet and i think if they did, they might change their mind, they also should take a look why did the rothschilds and other personalities invested in bitcoin.

[Semaj123]

Economist are afraid of cryptocurrency that's why there making a negative report like bubble and etc.Economist uses fiat money and bitcoins value towards fiat is so high and their afraid that big investor will adopt to bitcoin which is near the truth due to its making noise in every corner in the digital market.But i believe that their speculation is not true because behind the bitcoins organization are the people who have brighter minds to continue support the bitcoins evolution.

[Darker45]

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?

These economists are simply sticking it out with the traditional views and notions of the economy. These are the ones that are considered conservative in terms of economic development and innovation. But whether they like it or not there will always be a revolution in the economy. New territories will be created and discovered. Economics is not stagnant. It is dynamic. There will have to be evolution in the world of economics and the ones that will survive are the ones that are flexible.

[UnclePokes]

I don't think its in a bubble but it is traded in a very volatile marketplace with the only reason for major price drops have been the China ban and hacks, as long as adoption grows so will the price - that is the most basic economics there is! Once accessibility issues for the non-tech savvy public are resolved and they also realise you don't need to buy a whole coin growth will accelerate.
In regards to economists coming out against it the very reason is goes against almost everything before it, you have a nation-less currency that is ungoverned and isn't in a physical state. The tulip bulb reference is crap, the same can be said about gold.... it had no value until some else wanted it.

While i think that there is amazing potential for growth there will also be some set backs as governments around the world protect their own interests, by getting in now you will still be one of the early adopters and buying at a discount.

[Bonenx14]

Maybe somebody says that  bitcoin is a bubble because it can be vanish it can be lost and it will not stay forever. Even the property that we have now, the money, the job or the oppurtunity that we have now it can be lost. That's why some of the economist say that bitcoin is a bubble but for me if bitcoin stay it will help a lot of people who wants to have a better live, they can give chances to other.So as long as bitcoin stays use the amount that we get or save it and spend it on the things that we can use in the near future for our family.

indeed the bitcoin is intangible, although it is not tangible but still used by many people. so economists can say that bitcoin bubbles. because it is that the bitcoin does not exist what it looks like and how.

[BTCMILLIONAIRE]

Maybe somebody says that  bitcoin is a bubble because it can be vanish it can be lost and it will not stay forever. Even the property that we have now, the money, the job or the oppurtunity that we have now it can be lost. That's why some of the economist say that bitcoin is a bubble but for me if bitcoin stay it will help a lot of people who wants to have a better live, they can give chances to other.So as long as bitcoin stays use the amount that we get or save it and spend it on the things that we can use in the near future for our family.

indeed the bitcoin is intangible, although it is not tangible but still used by many people. so economists can say that bitcoin bubbles. because it is that the bitcoin does not exist what it looks like and how.

Fiat currency is not tangible either. It's just an imaginary number on paper, coins, or bank statements.

[yoseph]

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.

Bitcoin has a fixed amount in existence and i don't think that once it is all mined and done, there will be any other way where new bitcoins will come into existence. These economists actually don't know what they are talking about at all.

[BTCMILLIONAIRE]

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.

Bitcoin has a fixed amount in existence and i don't think that once it is all mined and done, there will be any other way where new bitcoins will come into existence. These economists actually don't know what they are talking about at all.

If there is enough consent for a new protocol, the total supply could be increased as far as I'm aware. But that would probably destroy trust in Bitcoin and be a very desperate measure should it ever take place. I agree that most Economists have no clue about reality though. The only ones that I've come to know personally that have a deep understanding usually studied Mathematics and then switched to Economics later on, which is rather rare.

[Ankhesenamun]

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.

Bitcoin has a fixed amount in existence and i don't think that once it is all mined and done, there will be any other way where new bitcoins will come into existence. These economists actually don't know what they are talking about at all.

Most economists are really poorly versed in the crypto currency. Their thinking is limited to the Fiat and the laws of the economy, which are built on the fiat. Therefore their mind is not ready to accept a new era in the world of finance

[OrangeSeller]

Well some of the economist owns a central banks and some businesses that manage's finance and without a prior study to its features, history and its goals they will just say the bitcoin is just a bubble because the high volatility makes them suspicious to these new type of currency, what can you expect from the most of all if they are economist of the central banks and preferred to support the old banking system rather than the innovative revolutionary currency on the technology. when bitcoin launched it is scam in the present times where is has a sky rocket value it is a bubble whats next economist?

Imagine that you’re asked to occupy the position of those economists, and you’re making great income from the business, then comes Bitcoin to spoil everything for you… will you just sit and watch what you’ve worked on for years get destroyed? No way, you won’t… you will say something to promote your own business.