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Author Topic: Bitcoin Bubble Yes / No  (Read 966 times)
Zadicar
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October 31, 2017, 12:34:02 PM
 #41

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.

Legal tender shouldnt really be used on this one because if we do talk legal tender then it is somehow already replacing its own fiat currency which isnt really happening on the current situation of Japan.They did only accept and adopt bitcoin as an alternative new way payment system but not totally replacing their own fiat. Bitcoin isnt a bubble it  might crash but not today for sure. Cool


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October 31, 2017, 01:19:21 PM
 #42

Bitcoin is not a bubble, before when I'm not oriented about the bitcoin ecosystem and economy of a country I really don't know what bitcoin is. But after studying some sort of time and figuring out what bitcoin is. We all can say that it is just the product of the law of supply and demand. Bitcoin has been on the trend for this year and that's why it's demand is getting higher so the price is.

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October 31, 2017, 01:48:06 PM
 #43

Like any asset that holds value, bitcoin can, has, and will be involved in bubbles, because it's value today is derived from the expected value of value in the future, which is uncertain and therefore responds to changes in beliefs. Sometimes those changes can be very large and happen very quickly.

So CAN bitcoin be a bubble? Of course. IS bitcoin a bubble? Of course not. It was always have some value going forward. Is it a bubble RIGHT NOW? I don't know, but I don't think so. It's volatility doesn't shock me. I expect that in the near future, bitcoin could very well be worth less than it is now and in the longer term future, I expect bitcoin to be worth more than it is now.

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October 31, 2017, 02:00:04 PM
 #44

No i don't think Bitcoin is bubble , cause when the supplies are limited and the needs is increasing day by day. So following to the logics. The Price of Bitcoin will raise .

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October 31, 2017, 02:13:17 PM
 #45

What you have said about Bitcoin being a legal tender is not true it does not mean that Japan and the Philippines are accepting Bitcoin automatically counts as a legal tender, yes they are accepted but it cannot replace the position of the country's own respective fiat currencies in legal terms negotiable instruments should be paid in the country's recognized fiat currency. Bitcoin is a bubble and there is no doubt about it. One good reason why it is a bubble is that Bitcoin does not have any fair market value we don't even know if Bitcoin is fairly price or not.

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October 31, 2017, 02:41:23 PM
 #46

I dont think bitcoin is a bubble. A Bubble dont just pop. Despite from the fact that it has its own volatility but it doesnt end there. Bitcoin will continue to grow and will be strong in the upcoming years. We just need to support and believe in bitcoin.

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October 31, 2017, 08:46:09 PM
 #47

The idea of bitcoin is very good, but the users themselves are to blame for that turns him in a bubble.
Bitcoin till this day is still just a speculative investment option for a lot people here, and thus will its market mirror that, which basically means that some times the price is way overbought, and some times way oversold. People ride the volatility and adjust their mood based on that, and having the great potential of Bitcoin in mind, you can't exactly put the blame on people for that.

As currency bitcoin is also not suitable because users are reluctant to part with their coins and try to protect them.
As I mentioned before, people see Bitcoin largely as a speculative investment option, and a damn pretty good one. People don't want to spend their $1000 Bitcoin to see that almost one year later, that Bitcoin has increased to a value of $6000. I can't blame them for that, because honestly speaking, that's not exactly giving me any incentive to spend again.

The price is very high for small transactions also does not develop bitcoin as a currency.
I think that Lightning Network will offer people a far better form of usability when it comes to the currency aspect, but we will likely always have to deal with the volatility, which on its own, will always form an obstacle to use Bitcoin as solid currency.

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October 31, 2017, 08:53:12 PM
 #48

I think all currencies are bubbles. It depends on how you defined bubbles. Everything in this life is bubble. Physical money is also bubble. You have it today in big amount and because of carelessness you can lost it tomorrow. Everything puffed off. Nothing is permanent but bitcoin though they call it bubble, it still continue to grow a big bubble and still not puffing off. Thanks to this bubble.

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November 01, 2017, 07:51:30 AM
 #49

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.
It is not right I don’t agree with this. Who said this foolish thing, because I think these people do not see the people who are investing in bitcoin in such a large capacity and the market cap of bitcoin is increasing day by day. Bitcoin is the future currency of the world how can it be vanished in the air? It is not possible for anybody in the world to erase bitcoin from the page of the future because it is not only the currency but also a business.

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November 01, 2017, 07:52:41 AM
 #50

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.

And what, to you, is the true value of bitcoin? People ride it to make more money off it. They don't particularly care if it gets used as a currency or not. Even though such use would surely add to its popularity and through this to its price. If you think that it is the currency aspect of it, you'd better look at other coins then which are a lot more advanced specifically as currencies. For example, many altcoins aim at providing instantly fast and cheap transactions, which is sort of must-have for a currency nowadays.

Bitcoin, on the other hand, is like a dinosaur if we compare it to these coins.


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November 01, 2017, 08:34:26 AM
 #51

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.
This is one man that never believed in technology anyway and has always preferred the traditional way.
Personally, I would not even want any of these guys to join the train anytime soon, so we can end up giving it to them at a much higher value once they realized it is not a bubble after all. I am not surprised they will keep trying their best to attack it and call it names, but I guess we just leave time to tell the rest of the story.
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November 01, 2017, 11:55:32 AM
 #52

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.
This is one man that never believed in technology anyway and has always preferred the traditional way.
Personally, I would not even want any of these guys to join the train anytime soon, so we can end up giving it to them at a much higher value once they realized it is not a bubble after all. I am not surprised they will keep trying their best to attack it and call it names, but I guess we just leave time to tell the rest of the story.

I'm not even sure I would like these guys to enter bitcoin at all. Just as CME Group announces Futures Trading of bitcoin, it's price skyrockets and we just keep seeing new ATHs. It is official now, the Wall Strees guys will enter the market. This will be great to the increase of price of bitcoin, since more and more fiat will enter into the crypto market, but these guys are here to make money, and not to use bitcoin. For better or for worse this is happening, let's see how BTC handles this.

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November 01, 2017, 12:02:28 PM
 #53

I don't know if bubble is the right word but BTC will remain the strongest for a long time yet I reckon. However, does this mean forever? Absolutely not. Crypto is still SO new, who knows what will happen in 10 years time.

In terms of right now, this past month though - I reckon we're in a bubble and the BTC crash will happen soon.
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November 01, 2017, 12:02:48 PM
 #54

When it's going up, they say it's volatile. When it's going down, then BTC becomes uncertain. Arguments at convenience.
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November 01, 2017, 12:03:06 PM
 #55

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/

My take on it is that bitcoin is a bubble just like any other currency, it is not backed by anything except for expectations, however the bubble is very very hard to burst, it takes some major failure for peoples expectations to change to zero. The dollar isn't a value producing asset either, its only value is to facilitate transactions, much like bitcoin.
Exactly, it all balls down to support and if everyone supporting it sees the value as it is, I do not see how that makes it a bubble. The fact is bitcoin surpasses just holding as an asset without no point of holding.

It has so much value that I am surprised most of these guys cannot see and whether they are deliberately not seeing it cause they cannot control it or they just want to remain ignorant and find out how it works... then that is their luck. Few years to come, I believe a lot would have changed in their orientation.

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TheAndy500
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November 01, 2017, 12:21:04 PM
 #56

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.
By 2040 no one will look at it as a bubble, but i am afraid that in the future too large quantities will have units to promote its development to whole population.


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justspare
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November 01, 2017, 01:32:16 PM
 #57

What you have said about Bitcoin being a legal tender is not true it does not mean that Japan and the Philippines are accepting Bitcoin automatically counts as a legal tender, yes they are accepted but it cannot replace the position of the country's own respective fiat currencies in legal terms negotiable instruments should be paid in the country's recognized fiat currency. Bitcoin is a bubble and there is no doubt about it. One good reason why it is a bubble is that Bitcoin does not have any fair market value we don't even know if Bitcoin is fairly price or not.
Japan and Philippine will progress more as compare to world because they are maturing themselves as according to the modern age and as bitcoin has entered their region there will be more economic stability for them and bitcoin is not the bubble dude it has given a lot to the people and bitcoin has market and the common investor is its ambassador and it will remain at the throne of world currency till the end,


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Oleg.Budeanu
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November 01, 2017, 01:40:42 PM
 #58

Actually bitcoin itself is blockchain database, new finance way, new technology... you name it. But exchange rate is a bubble, that grows because of huge demand for evolution of world financial system that is outdated, and second because of shortage and limited quantity of bitcoins, that are used for illegal financial operations.
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November 01, 2017, 01:59:21 PM
 #59

Actually bitcoin itself is blockchain database, new finance way, new technology... you name it. But exchange rate is a bubble, that grows because of huge demand for evolution of world financial system that is outdated, and second because of shortage and limited quantity of bitcoins, that are used for illegal financial operations.
Why do you support fakes of the government and the bankers? They are afraid of competition with bitcoin and so there are rumours that bitcoins are used for illegal purposes. Give me one example of what bitcoin is massively used for illegal transactions. It is not. Even if it is then it is the duty of law enforcement to fight crime. Before the advent of bitcoin was not illegal transactions? Lol! Let ban Fiat.
Caladonian
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November 01, 2017, 02:15:08 PM
 #60

Actually bitcoin itself is blockchain database, new finance way, new technology... you name it. But exchange rate is a bubble, that grows because of huge demand for evolution of world financial system that is outdated, and second because of shortage and limited quantity of bitcoins, that are used for illegal financial operations.
following your arguments yes it is, with low volume of supply if this new financial currency can really rise up so quickly with numbers of players which
dealing of hiding their participation the reason why its still possible that things happen is just a bubble but i think after some adoptions and gaining
polarities bitcoin might have a good future.

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