Why economists say Bitcoin a bubble

[BettingTips]

Actually, Bitcoin is a bubble because its current exchange rate is very high, higher than expected for a currency. Looking at the future, Bitcoin is hardly able to become an official currency due to a number of issues such as the amount of only 21 million coin, the exchange rate is too high, Bitcoin trading is very difficult. those who have no knowledge of technology. And I believe the future of the currency will be the altcoin, because of the low exchange rate, which is equivalent to the offline currency now, promises to completely replace Bitcoin.

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[anonbit992]

I think that is because, the economists can't find something other than the demand and supply, to decide the true value of bitcoin. Some people in the crypto space say the value of bitcoin depends upon the cost of electricity and hardware spent to mine bitcoin. Some say its pure demand and supply. Others say its a combination of both.

[Agaton]

Bitcoin is bubble because of price movement. The rapid decrease and increase of price is called a bubble. It will rapidly increased and decreased by 10 to 20 percent just only for one day, so it is called a bubble.

[cheann20]

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?

For me, why economist say bitcoin a bubble? Well I think It because of the worldwide ledger  process in cryptocurrency world,but the reality its continue to grow  and decentralized in the blockchain market.economist have there own analization in the economy happen, but in terms of cryptocurrency its different.

[ico41]

Actually, economists say a lot worse than that. Paul Krugman, a Nobel Prizewinning economist for whom I actually have a great deal of respect - but not for his approach to Bitcoin -- actually wrote an article in 2013 titled "Bitcoin is Evil."  Of course, because he has a sense of humor, he didn't really mean the title, but he has not had the best things to say. 

Most recently he said "It's got this mystique about it, because it's some fancy technological thing that nobody really understands."

Krugman went on to use the analogy of Wiley Coyote from the cartoon era - where the Coyote frantically spins his legs in the air just before plummeting down the canyon,

But his analogy is even better than he thinks - because just like the cartoon, where we see Wiley back from the dead in the VERY NEXT TEN MINUTES ... we see Bitcoin back to live repeatedly.

The thing that disappoints me about Krugman and Steiglitz " .. It should be outlawed!  It serves NO VALUE!!!!" is that it appears that once you win the Nobel, you stop being interested in new things.  It's inconceivable to be that these people, as smart as they are, cannot understand what Bitcoin is about.  Or ... do you suppose they are just being disingenous?

[shezu007]

The cost of Bitcoin is driven by theorists, not by fundamental esteem. This does not really imply that it is in an air pocket state, as there are numerous different resources that additionally have their evaluated gotten from exchanging. Financial analysts have models for characterizing bubbles, yet they can be either excessively broad or out of date. In the event that a model is utilized inaccurately it won't give any legitimate answers, and I feel that is the situation here. Bitcoin may or won't not be in an air pocket state, but rather I do figure we will see the entire crypto advertise develop into an air pocket. At the point when the air pocket blasts the best blockchains will survive, and the rest will die.

[cryptoalfs76]

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?

Will,eveyone of us have in tittled to have a different opinion about the happening of the cryptocurrency,as just what the big economist said that its only a bubble and not a revolution of bitcoin economy.but for us  as a part of digital currency,we truly believe that this economic growth especially in cryptocurrency is in the honor of bitcoin legacy,and this revolution of economy is entittled for bitcoin only no other than,who accept this fame.

[Dark Sky]

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?

Will,eveyone of us have in tittled to have a different opinion about the happening of the cryptocurrency,as just what the big economist said that its only a bubble and not a revolution of bitcoin economy.but for us  as a part of digital currency,we truly believe that this economic growth especially in cryptocurrency is in the honor of bitcoin legacy,and this revolution of economy is entittled for bitcoin only no other than,who accept this fame.

If bitcoin a bubble then no anyone get profit and no anyone blind trust in bitcoin, bitcoin changed people's life and their future also secure by their profit, so bitcoin is not a fraud it is a true dream that everyone wants in their life.

[Harlot]

You cannot blame them for being that way as economist has certain standards and knows how to detect what a bubble is. Even at my school when I talk to my friends who are studying Economics they will say that Bitcoin is a bubble and shows signs that it is one, like they will tell me that Bitcoin does not have any fair market value and that Bitcoin only gets its value because of Fiat Currency, and being such an open person I understand that they are just using what they have learned from their program.

[gordonsam32]

I think that economists ate actually using a different and rather obsolete way in analyzing Bitcoin. This is probably why they do not see the breakthrough that this technology has brought us.

[JMD07]

Those are old school economists. They said that it's a bubble to protect there own philosophy. They use fiat for there business so it's obvious that they are against the cryptocurrency.
If they will not go with the flow I'm sure they will left behind.

[allohha]

on the forum today is almost the same information that is transmitted by word of mouth by all users of the forum. But I do not know who to trust and what kind of forecast to believe, because Bitcoin is really today a coin with a huge price, which is practically worthless. That is, in other words, an air bubble that can burst at any moment.

[faceoff97]

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?

Bitcoin seems really a bubble, it actually showing unexpected growth in value and tremendous change in price from time to time. Another would be because if its volatility. This feature makes bitcoin look like just pump and dump system. Bitcoin is actually safe, its value ia not depe from anyone, it actually dependent on the demand of people. Thus it will only fall once people decide to put it down.

[ehab.co]

It is only a bubble if people suddenly lose confidence in it and start taking all their money out. If developers keep coding and making innovations to increase functionality and value then it will keep confidence high, new money will keep coming in and it will continue to grow. As everyone is saying corrections happen but that is just natural in a market. Crypto is so volatile because it is such a liquid market. Anyone can buy in and sell out, you don't have to be a registered investor. This is good and bad for obvious reasons.

[iolite]

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?

simple because they didnt buy in early days and feels like idiots

[BagzMM]

Bitcoin was already a bubble since last year as it pumps from $8k to $16K in two weeks time.
Now, bitcoin is still the king of cryptocurrency and predicted to reach $20k this year.

Economists were saying that this is the most obvious bubble to aware the people not to invest on it.
The truth, every time they talk about bubble in return the value of bitcoin increases.

[shaun98]

Don't think it is a bubble yet. Bitcoin is almost as valuable if not as valuable to the Internet, and it hasn't even reached the marketcap of the dotcom bubble that happened back then. Maybe it might become a bubble in the future, but don't think it is happening now.

[cybersofts]

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 always wonder why people who knows nothing about the bitcoin history and background are always the first ones to comment on it. In fact, bitcoin is been called a "bubble" for far too long. So, when will the bubble burst? that is my question to them.

[barbara44]

Well a bubble is something that might be came from a source and then will become larger and larger from being a small one. After that, it might get larger again and when there will be a time that it will be pop out and will disappear. That is why they compare it to a bubble, we can't predict that it might get lost someday. Yes it is getting bigger but the threat of it, is it might disappear.

The truth is that no one can really predict what is going to happen in the long run. We may look at bitcoin as a bubble now due to the huge increase in the price as a result of adoption.

However, are we going to classify the adoption under the fact that people understand where they are investing their money with bitcoin being a decentralized currency that would disrupt the finance sector? Or every newcomer is just being a FOMO and they do not want to miss out on the trend? I guess only time can tell if it is truly a bubble or not.

[BitcoinCommodor]

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.

whos that BIG ECONOMISTs?and what economy they are stands for?specific country?(ofcourse its impossible that you have talked to world economist with an S)most of the time those what we called economist only favor for what interested them.they are really not for the peoples concerns but for the concern pabor to them.

All the so called economists that are busy saying all these stuffs are just some set of talkative as far as I am concerned. The only explanation I can give is that they have no idea what they are saying or they are just some self-proclaimed economists with no sense at all. I care less whatever they say just like you have said and anyone that wants to take their word for it, then that is their business.

I believe the reason they are saying all these things about Bitcoin being a bubble is because of the fact that it is believed that Bitcoin is moved by Investment and that it needs correction. They believe that whenever people decide to withdraw their profit, which they might do, that their no so called bubble will burst.

I pray that even such thing happens, everyone should not give up hope, but should see it as another chance, and keep on investing no matter what.

We have been seeing a lot of corrections and that is not a correction staying up for so long which means the market is really getting pretty strong and people do not care as they are holding up for the long term anyway. It is crazy and except bitcoin becomes highly usable in the long run, I am not sure how long it is going to last before we start seeing dumps which could lead to some huge correction. The newcomers are still coming in, so we may just expect this to keep going like this for a while.