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Author Topic: Bitcoin Bubble Yes / No  (Read 966 times)
BillCoin
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October 29, 2017, 11:44:03 PM
 #21

Bitcoin is not a bubble because it's major adoption just gets bigger then time flies.

I think it's a misleading statement to say that Japan is now accepting bitcoin as a legal tender, they recognize it as a sort of payment or as a currency, but the difference from the current state to a legal tender is pretty much big.

Legal tender means that you can pay with the currency(bitcoin in this case) in every store in the country(it has to accept it by law enforcement), it also says that the government must accept the currency from you to pay for taxes and other bills.

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October 29, 2017, 11:45:15 PM
 #22

Bitcoin is not a bubble because it's major adoption just gets bigger then time flies.

I think it's a misleading statement to say that Japan is now accepting bitcoin as a legal tender, they recognize it as a sort of payment or as a currency, but the difference from the current state to a legal tender is pretty much big.

Legal tender means that you can pay with the currency(bitcoin in this case) in every store in the country(it has to accept it by law enforcement), it also says that the government must accept the currency from you to pay for taxes and other bills.


I totally agree with you on this topic. I don't care what Waren Buffet says and I don't believe he was saying the truth. He's probably making FUD and buying more bitcoins at the moment with cheap prices. That's how they make money.
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October 30, 2017, 06:05:18 AM
 #23

bubble or not, it doent matter to know, after all you've always think that bitcoin is a bubble, youll always doubting in bitcoin which is not usual to think. bitcoin already prove it self in all of us, so why doubt always exist on us? from the past 6 years bitcoin improves it self and reach at this point without asking you to support which you did after all. just continue in bitcoin and don't ask other to make them confuse on what do they believe before.
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October 30, 2017, 11:18:32 AM
 #24

Bitcoin is not a bubble.It has gained this price value slowly over the last eight years.Its price rise is mainly due to its limited supply and its secured nature and decentralized nature making it completely out of the reach of government controls.

It has already crossed many critical situations successfully and it deserves this price and more price rise too.It has made transaction of very large amounts at very low features.

Bitcoin has more features for which people keep trust in it and buy at higher prices.It is not just a speculative investment.

Bitcoin is neither a bubble nor a tulipomania.

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October 30, 2017, 11:27:00 AM
 #25

plenty of people used to say this kind of words since before that bitcoin is a bubble, and since then they keep on criticizing bitcoins credibility, and up until now there isn't stop to it, and for how many times bitcoin has prove it that it wasn't a bubble.

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October 30, 2017, 11:31:53 AM
 #26

I can't with 100% certainty to say that bitcoin isn't a bubble. He really has the signs of a bubble, but it seems to me that the dollar is more likely to burst than bitcoin. Look closely on the dollar. He has all the signs of a bubble. Just Warren Buffett used to work with corrupt politicians and the world's Fiat it is easier to navigate.
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October 30, 2017, 11:35:01 AM
 #27

Bitcoin is not a bubble.It has gained this price value slowly over the last eight years.Its price rise is mainly due to its limited supply and its secured nature and decentralized nature making it completely out of the reach of government controls.

It has already crossed many critical situations successfully and it deserves this price and more price rise too.It has made transaction of very large amounts at very low features.

Bitcoin has more features for which people keep trust in it and buy at higher prices.It is not just a speculative investment.

Bitcoin is neither a bubble nor a tulipomania.

Despite everything it's been through, bitcoin remains to be resilient and strong - it has survived all throughout those forks and FUDs and these are the reasons why I agree and continue to firmly believe that bitcoin is not a bubble, otherwise it should have collapsed and seized growing. Instead, it still continues to grow and become adopted in other countries. I believe that bitcoin has the potential to grow even more for the incoming years.
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October 30, 2017, 11:48:33 AM
 #28

Some Reasons why Bitcoin IS not Bubble

1)Legal Tender Bitcoin now Accepted in Japan (Open office ) ,Philippines citizens can send/receive  bitcoin in low-cost ,.......

2)Merchant Adoption early years was limited but now  largest companies  accepted Bitcoin .

3)Bitcoin Supply is Limited only 21 million coins.


Some Reasons why Bitcoin IS  Bubble

Warren Buffett say

Quote
"You can’t value bitcoin because it’s not a value-producing asset."

Source https://www.coindesk.com/real-bubble-billionaire-warren-buffett-doubles-bitcoin-doubt/

If you ask me, I think that bitcoin IS a bubble, at least, for the time being. But I still can't agree with Warren Buffett because bitcoin does produce value but surely not in the way Buffett thinks. It is speculative value, just like with any other bubble out there, but if it makes you richer, how can you not call it value? As an aside, bitcoin is not accepted as legal tender in Japan. Correct me if I'm wrong on this, but bitcoin is only accepted as a foreign currency there like, for example, the American dollar or the Euro.

These are two big and essential differences.


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October 30, 2017, 01:46:58 PM
 #29

People often criticize what they do not understand. Is bitcoin a bubble? I would say no, because there is an actual product that is deemed valuable, albeit, by the minority. No amount of calling it names, regulation etc will stop the upward trend, at least for now.

And the earlier they started seeing it as the technology that would change the future, the better for them rather than calling it whatever they like. I feel most of them are just trying to take their chances, and I am pretty sure as much as they are calling it bubble, they are buying in, but their normal senses would not want it to work knowing it is against how they have always done things.
Bitcoin has value and that is a value that can surpass even their own imagination, over time, they will get to accept that fact and obviously nothing will stop it from growing and in few years time, we will quote them and ask if they are still ignorant or they still want to keep calling it bubble when bitcoin has become a normal part of our lives and the way we spend.

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October 30, 2017, 02:11:41 PM
 #30

Some Reasons why Bitcoin IS not Bubble

1)Legal Tender Bitcoin now Accepted in Japan (Open office ) ,Philippines citizens can send/receive  bitcoin in low-cost ,.......

2)Merchant Adoption early years was limited but now  largest companies  accepted Bitcoin .

3)Bitcoin Supply is Limited only 21 million coins.


Some Reasons why Bitcoin IS  Bubble

Warren Buffett say

Quote
"You can’t value bitcoin because it’s not a value-producing asset."

Source https://www.coindesk.com/real-bubble-billionaire-warren-buffett-doubles-bitcoin-doubt/
BTC is a bubble or even a ponzi because you need 2 things for it to grow. New users and trust. For the value to grow you need users to keep coming to BTC , increase demand and value. But that´s not the point. The point is weather people will keep trusting BTC to act as a currency or keep trusting it to act as na asset. If they maintain trust, price will keep going and wont dive, so no bubble, if confidence and trust are gone the bubble pops and afterwards some people can scream and shout i told you so...

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October 31, 2017, 06:16:46 AM
 #31

It's not value producing asset then what do you call USD and some national currency and fiat moneys? is that also a piece of paper that is useless and not producing asset? barter trade and some traditional trades is not common practice because the goods and raw materials can be rotten by the time that's why they come up with the currencies or money it just like them without physical representation. Now is bitcoin a bubble? maybe in the future but not today.
Thank you so much. These guys really know the truth and we all know the reason why bitcoin is growing fast is because some totally believe in the value it holds and some possibly took it for an asset but does that stop bitcoin from not having its value ?

These guys have found out apparently that they underrated the fact that bitcoin would grow to this extent. They never believed in it, knowing it is coming to disrupt the way they have been doing things, manipulating and all, and then they tried everything possible to stop it and then it keeps on growing and so sorry for them it is the way it is going to be whatever name they want to give it.

Few years time, they should still come back to see if bitcoin is a bubble or not when merchants and stores have started accepting it as a form of payment.


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October 31, 2017, 07:17:31 AM
 #32

Some Reasons why Bitcoin IS not Bubble

1)Legal Tender Bitcoin now Accepted in Japan (Open office ) ,Philippines citizens can send/receive  bitcoin in low-cost ,.......

2)Merchant Adoption early years was limited but now  largest companies  accepted Bitcoin .

3)Bitcoin Supply is Limited only 21 million coins.


Some Reasons why Bitcoin IS  Bubble

Warren Buffett say

Quote
"You can’t value bitcoin because it’s not a value-producing asset."

Source https://www.coindesk.com/real-bubble-billionaire-warren-buffett-doubles-bitcoin-doubt/
It is true that bitcoin is not value producing but it is the same with national currencies isn't it? Therefore currencies transcends the essence of a bubble. You cannot call a real currency bubble because there is a real demand for it and btc is slowly becoming a legit, bonafide virtual currency as day pas by. Before we call btc a bubble, we must always rember that btc is created in the first place to be a virtual currency, not as a ponzi scheme so whenever price goes down it is just normal because it ain't an asset, it is a currency the same with fiat currencies.
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October 31, 2017, 07:52:30 AM
 #33

The question is rather simple. Do people use bitcoin that frequently and in that many places that it should be worth almost $6000 per coin? I mean, I don't see many shops, restaurants or general services and places accepting bitcoin widely. I don't even see many people buying things with bitcoin. The demand is high not because everyone wants to use it and needs it in their everyday lives. The demand is high, because everyone expects the price to grow. And why would the price grow if bitcoin is not being used? Everyone just buys more and more and stores it in their wallet. It supposed to be a currency, something usable in our everyday lives. Bitcoin is worth these $6000 not because it's so great and used by everyone, but only because people believe it will give them profits. It's pure speculation, no actual usage.
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October 31, 2017, 09:18:56 AM
 #34

The question is rather simple. Do people use bitcoin that frequently and in that many places that it should be worth almost $6000 per coin? I mean, I don't see many shops, restaurants or general services and places accepting bitcoin widely. I don't even see many people buying things with bitcoin. The demand is high not because everyone wants to use it and needs it in their everyday lives. The demand is high, because everyone expects the price to grow. And why would the price grow if bitcoin is not being used? Everyone just buys more and more and stores it in their wallet. It supposed to be a currency, something usable in our everyday lives. Bitcoin is worth these $6000 not because it's so great and used by everyone, but only because people believe it will give them profits. It's pure speculation, no actual usage.

You seem to have put everything right, and I have to mostly agree with you. Nevertheless, there are still a few other points which are worth raising. For example, it could be said that bitcoin is still an early bird, and its current speculative growth is something which is sort of unavoidable. Maybe, it will correct heavily due to speculation going down one day, but it is still a pretty decent payment system, and when bitcoin gets despeculated at the end of the day with its price stabilizing, it may take up as a genuine currency finally.

Besides, for most people there are no other options currently available where they could invest their hard earned money in. Bank deposit rates are ridiculous while fiat currencies are depreciating constantly. And bitcoin may come in quite handy as a sort of safe haven to these people.


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October 31, 2017, 09:52:11 AM
 #35

Whether it is a bubble or not, but people use it and they love it. It brings happiness to people in the form of profits over the time, and that is what matters for everyone including me. I don't know if Bitcoin will always stay or not, but i know that as long as it is there, i won't stop using it because it's giving me a reason to be happy in my life. I have never earned any money in my life before Bitcoin, and today, i have money, much money, that i never dreamed of having at this age, and i'm thankful to Bitcoin for that. I don't care for what people say, i just care for what i feel and what i believe, and i don't believe it is a Bubble.


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October 31, 2017, 11:23:02 AM
 #36

bitcoin is not a bubble.

but it has a lot of bubbles that burst and correct in time. the thing is, we should look at bubbles in bitcoin in a different way. they are not always a huge thing that needs to burst and drop to an extremely low price. a bubble can be small too and the correction of it also will be small.

people who talk about bitcoin bubbles, always forget the big drops that bitcoin had so far. they are right there on the charts! each big dip which looks like a valley.














 

 

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Lancusters
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October 31, 2017, 11:51:01 AM
 #37

bitcoin is not a bubble.

but it has a lot of bubbles that burst and correct in time. the thing is, we should look at bubbles in bitcoin in a different way. they are not always a huge thing that needs to burst and drop to an extremely low price. a bubble can be small too and the correction of it also will be small.

people who talk about bitcoin bubbles, always forget the big drops that bitcoin had so far. they are right there on the charts! each big dip which looks like a valley.
You are too optimistic. If you use the logic that bitcoin is very similar to bubble. The idea of bitcoin is very good, but the users themselves are to blame for that turns him in a bubble. As an investment bitcoin is not intended now. he is growing too fast in price. Business needs cheap and long money. As currency bitcoin is also not suitable because users are reluctant to part with their coins and try to protect them. The price is very high for small transactions also does not develop bitcoin as a currency.

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October 31, 2017, 12:29:52 PM
 #38

Currently, Bitcoin is receiving so much attention than what it used to be in the past few years.
So many people are now turning to Bitcoin.
So, it's not a bubble.

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October 31, 2017, 12:30:41 PM
 #39

Those who say bitcoin is a bubble clearly don't understand it. If you just look at the price without understanding the true value of bitcoin, then of course you will think it's a bubble. If we look at it's price charts, they definitely look like charts from a bubble market. Recently just adding the name blockchain to it's company name, it's enough reason for that company's shares to rise, and that is bubble behavior as well, and it reassembles to the dotcom mania.

To be honest this worries me a bit. I don't think bitcoin is a bubble, but I'm worried because I'm sure that there are a lot of investors entering the market because they see bitcoin as a bubble and as a way to make money. If they don't believe in BTC true value and use, then they will eventually cash out for profit and that could hurt BTC.

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October 31, 2017, 12:33:50 PM
 #40

Bitcoin is not bubble, if you expect it will be the most powerful real word payment system. There are only 21M bitcoins in total, so the total capitalisation is depending only on cost of token. And ahe current cap of $100B is still relatively small in % to fiat currencies.
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