Redanim
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Activity: 56
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October 31, 2017, 02:57:32 PM |
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Firstly, bitcoin is not money, because money must be a commodity. Secondly, the current market of cryptocurrency is fully suited to the description of the bubble. Optimism, with respect to bitcoin and cryptocurrency in general, is off scale. People are becoming more and more convinced of their belief that bitcoin is a reliable and super-profitable investment tool. The higher the price, the more people will want to buy tokens and earn a lot of money. Accordingly, the growth in prices is affected only by the assumption of reliability and prospects. In other words, the ascending trend of bitcoin may be a herald of the future collapse.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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BTCMILLIONAIRE
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October 31, 2017, 03:05:31 PM |
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Firstly, bitcoin is not money, because money must be a commodity. Secondly, the current market of cryptocurrency is fully suited to the description of the bubble. Optimism, with respect to bitcoin and cryptocurrency in general, is off scale. People are becoming more and more convinced of their belief that bitcoin is a reliable and super-profitable investment tool. The higher the price, the more people will want to buy tokens and earn a lot of money. Accordingly, the growth in prices is affected only by the assumption of reliability and prospects. In other words, the ascending trend of bitcoin may be a herald of the future collapse.
Money doesn't have to be a commodity, and most of fiat money today definitely isn't. Bitcoin is also legally recognized as "private money" in some countries already. |
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BitcoinLoan
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October 31, 2017, 03:06:46 PM |
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Bitcoin have huge market whose can not be in bubble. Maybe in 100 years but not now. I am sure about this
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BTCMILLIONAIRE
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October 31, 2017, 03:08:10 PM |
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Bitcoin have huge market whose can not be in bubble. Maybe in 100 years but not now. I am sure about this
Bitcoin is probably going to lose its spot at the top much sooner than 100 years, although it should still take several decades. |
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quedex
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October 31, 2017, 03:35:38 PM |
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The economists claim that Bitcoin is a bubble basically for one reason: the liquidity premium of (or, in other words, transactional demand for) bitcoin is huge relative to its intrinsic value (IOW, the value you get when the music stops).
Since bitcoin is actually the first asset to fully conform to quantity theory of money, most economists are perplexed.
Could you expand more on this? What do you mean by liquidity premium (transactional demand)? If you mean transactional utility, then it is pretty slim in Bitcoin since Bitcoin is not used as money. It is a vehicle for speculation (the proverbial "buy low, sell high") but once you inject your bitcoins (or other cryptos, for that matter) into your exchange account, they mostly stay there, i.e. you don't transact with Bitcoin as much as you use it for speculation. So it is really minute in comparison with demand for Bitcoin as a speculative asset. Also, I'm not quite sure what you mean by Bitcoin's intrinsic value. As far as I can say, there's none I agree that bitcoin does not have any important intrinsic value. By this I mean that it is not a security entitling the holder to anything and that its objective, market-independent properties are almost useless (cryptographic timestamping on [Suspicious link removed]es to my mind as one). Bitcoin's value comes almost solely from transactional demand for bitcoin and expectations of future transactional demand. It is not the same as demand as a payment service for coffee or t-shirts, but rather demand for a liquid asset, which is easily transferable globally and which is able to settle even large transactions swiftly, reliably and pseudonymously I seem to understand what you mean Basically, we mean essentially the same thing. I talk about transactional utility which is a basis or source for what you call transactional demand, or rather expectations based on future transactional demand. If I got your point correctly, you mean that people (some people) buy Bitcoin because they hope it will be a future medium of exchange when it gets universally accepted worldwide as opposed to folks buying it exclusively for the purposes of speculation. That said, I don't think this demand is great, I'd rather say it is small, if not to say tiny Yeah, I think we agree on the transactional demand part. I do not place speculative demand in the opposition to transactional demand - in fact, both reinforce one another and the speculators essentially have to estimate future liquidity flows to be successful. They don't have to be conscious of that fact, though :-) |
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doomloop
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November 04, 2017, 05:51:16 AM |
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Nobody can say for sure, for now you should have a war chest and invest using common sense. At least for this transition period
For sure bitcoin is not the bubble and they haters and the rumors are spreading the news like this so it is not good to listen to them and acting upon what they are putting in our mind I hope in the future all the investors will buy the bitcoin and they will prove that the best ever currency is the bitcoin and the price will also go high and the bitcoins has the large potential for the jobless people as well |
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BTCMILLIONAIRE
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November 05, 2017, 01:34:44 AM |
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Nobody can say for sure, for now you should have a war chest and invest using common sense. At least for this transition period
For sure bitcoin is not the bubble and they haters and the rumors are spreading the news like this so it is not good to listen to them and acting upon what they are putting in our mind I hope in the future all the investors will buy the bitcoin and they will prove that the best ever currency is the bitcoin and the price will also go high and the bitcoins has the large potential for the jobless people as well "For sure not a bubble" is just as naive a statement as "for sure a bubble". Fact is, nobody knows what is going to happen. |
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qwertyup23
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November 05, 2017, 02:38:37 AM |
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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?
Personally, I think that due to bitcoin's nature being digitalized, traditional investors are finding it hard to believe that a digital currency can conquer fiat currency which has less security compared to other types of investments. Following the dotcom bubble that happened around 1990s, the internet-based companies started to grow and it showed tremendous results at first. After their excessive growth, the industries suddenly collapsed creating a bubble at first and failed at the end. They think that bitcoin will be similar to what happened to the dotcom bubble due to their nature being on the internet. Source: https://cointelegraph.com/news/why-traditional-investors-tend-to-think-that-bitcoin-is-a-bubble |
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michellee
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November 05, 2017, 03:02:55 AM |
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i think its because the bitcoin price is too volatile and can make people confusing with the price and because they can not predict with precisely where the price wants to go. beside that, there is many news that don't want bitcoin price is increase too high and will makes bitcoin price is fallen but people now is not to be panic because they know that bitcoin will always go back to high after the fallen. and now there is many good things that will makes people calm down and not panic and bitcoin will increase more in future.
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1BTC EQUALS 1CAR
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November 05, 2017, 03:19:41 AM |
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They are just spreading FUD so they can take advantage of the dips and buy a lot more. Or they are not into bitcoin so they will make malicious attempt to bring down btc.
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BTCMILLIONAIRE
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November 05, 2017, 03:40:25 AM |
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They are just spreading FUD so they can take advantage of the dips and buy a lot more. Or they are not into bitcoin so they will make malicious attempt to bring down btc.
Some of them neither try to bring Bitcoin down nor are into it for the FUD. They just don't process unfamiliar information well. |
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kier010
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November 05, 2017, 05:29:08 AM |
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i think bitcoin is oppose to what they use to believe. they only see fiat money as a legal currency and bitcoin is not. economist just want bitcoin to down so they make negative comments but they do not know the purpose of bitcoin.
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paul00
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November 05, 2017, 08:15:51 AM |
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i think bitcoin is oppose to what they use to believe. they only see fiat money as a legal currency and bitcoin is not. economist just want bitcoin to down so they make negative comments but they do not know the purpose of bitcoin.
I think economist thought of bitcoin as a bubble since bitcoin is not even declared as official curency to any country, still it is considered as digital currency which only works online. They must have thought that once the website has been blocked everything in about bitcoin is already gone. |
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asriloni
Legendary
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Activity: 3010
Merit: 1024
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November 05, 2017, 08:56:22 AM |
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Nobody can say for sure, for now you should have a war chest and invest using common sense. At least for this transition period
For sure bitcoin is not the bubble and they haters and the rumors are spreading the news like this so it is not good to listen to them and acting upon what they are putting in our mind I hope in the future all the investors will buy the bitcoin and they will prove that the best ever currency is the bitcoin and the price will also go high and the bitcoins has the large potential for the jobless people as well "For sure not a bubble" is just as naive a statement as "for sure a bubble". Fact is, nobody knows what is going to happen. The bubble is possible for bitcoin, I can't say they are all economist wrong but in my experience I were seeing about so many flash crash to the bitcoin. This why they are all calling the bitcoin as a bubble. The flash crash give an evidence about the unstability of the bitcoin |
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AltCoinProject
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November 05, 2017, 09:42:13 AM |
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Because they want to buy cheaper BitCoins and profit. Speculations!
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Misshi
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Decentralized Continuous Audit&Reporting Protocol
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November 05, 2017, 11:40:35 AM |
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Because they think of it as no value. Unlike gold which is a natural resource of our world. But Bitcoin is an algorithm. It is a system based on Mathematics. So I don't think Bitcoin is bubble. I think they just want that people will be afraid of buying Bitcoin or have negative thoughts about it because they don't want Bitcoin to be superior that they cannot control.
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ehdiksayo
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November 05, 2017, 11:54:53 AM |
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In my thought. BTC is indeed getting overbought for, lets just say that BTC is being easier for people to invest money just by using internet. While the economy is being low because it isn't working right for the other people are working the btc instead of helping the community rise its economy.
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crypthomonkey
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November 05, 2017, 11:59:19 AM |
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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 large part of economists which says that, don't know what bitcoin is |
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BTCMILLIONAIRE
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November 05, 2017, 04:25:07 PM |
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In my thought. BTC is indeed getting overbought for, lets just say that BTC is being easier for people to invest money just by using internet. While the economy is being low because it isn't working right for the other people are working the btc instead of helping the community rise its economy.
It's hard to overbuy BTC when it can be used as a currency, as an investment and as a vehicle for altcoin investments all at the same time. |
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ThunderCatSteve
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November 07, 2017, 06:02:41 AM |
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Because they think of it as no value. Unlike gold which is a natural resource of our world. But Bitcoin is an algorithm. It is a system based on Mathematics. So I don't think Bitcoin is bubble. I think they just want that people will be afraid of buying Bitcoin or have negative thoughts about it because they don't want Bitcoin to be superior that they cannot control.
Economists are still preaching old modes and they are not well aware of this coin and those who are saying gold is best aren’t they seen the prices of bitcoin how up they are and gold is now an ornament and one thing is for sure that those economist who are saying it bubble will soon invest into it and it has happened in past and in short bitcoin has taken over the seat of most profiting investment and hatters are jealous. |
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