is bitcoin overhyped

[ratiobitcoin]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

[1715152916]

1715152916

[OmegaStarScream]

I don't understand how it can be a bubble If a few millions only (maybe less then 10 millions) out of billions are using bitcoin, the potentials are simply huge here. As for not knowing about forks etc. then who's fault is that? I believe its the user fault for not doing his own research before getting involved. The transactions fees could easily be fixed If services start adopting SegWit but they are not so they're to blame and LN should come soon which should make them even lower.

[talkbitcoin]

a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings.

how did you measure this?
have you performed some kind of study, survey, or country-wide traffic analysis to figure out how many were interested in bitcoin and have been using it?

you know people aren't exactly so enthusiastic about sharing their financial matters with others. not to mention that smart money keeps accumulation on the down low.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

a bubble is when price is higher than the intrinsic value of something but you can not say this is now higher than that! so you can not say if it is a bubble.

and not knowing about details of bitcoin doesn't mean it is a bubble! there are always newbies in any market.

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

it is not impossible to use bitcoin and it is not even that expensive to use it compared to most payment systems. and it is not going to last forever. if it did then it will start causing problems but not now.
again has nothing to do with a bubble.

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

altcoins have always been pump and dumps.

[Washball]

You could say Bitcoin is hyped, in order to increase the price. But this huge price rise is not only because it was hyped. Bitcoin has an enormous potential and the fact that it's a decentralized currency, which made it so popular, have made this high price possible. Also because the financial institutes saw a new product to make big profits with.

[ratiobitcoin]

i didn't do any survey it was just the overall opinion i got, when i saw who was starting to talk about bitcoin and so on. also it has become a more and more popular topic at coffee-talk. this was more an assumption.

[illinest]

I don't understand how it can be a bubble If a few millions only (maybe less then 10 millions) out of billions are using bitcoin, the potentials are simply huge here.

That's partly why some people assert that it's a bubble. One side is saying "hardly anyone is using it, so the upside is huge!" The other side is saying "hardly anyone is using it, so this is all hype/speculative bubble." Only time will truly tell which side is right, but the fact that BTC has recovered after every bubble/crash cycle suggests that it's here to stay for good.

The transactions fees could easily be fixed If services start adopting SegWit but they are not so they're to blame and LN should come soon which should make them even lower.

That's not entirely true. Segwit only cuts fees in half, so it won't fix anything on its own. The intermittent spam attacks the network is experiencing drive fees up more than that, and I suspect we have Bitmain to thank for it. LN, on the other hand, will actually be a game changer. But it could be years before we see widespread usage and a robust routing network.

[cryptonoob312]

Yes, it is. But it's good for us, so let's hype it too

[hatshepsut93]

There are two main scenarios for a bubble - people buy something because they believe that it will increase in price, but when the price stops growing, they take it as a signal to take the profits and sell, which leads to a bear market and crash - this can be called as speculative bubble; the other scenario is when people invest in something new because they believe that it will grow big, but then it fails and the price goes to zero. The first type of bubble is not scary - it is possible to recover from it, it happened with Bitcoin a few times already, and you can either try to trade on it by selling before the crash and buying at the bottom (which is risky because you can be in a loss if you mistime it), or you can just ignore the crash and hodl. The second scenario is more dangerous, some negative events like bans, hacks and bugs can cripple Bitcoin's price for a long time, or maybe even completely kill it. But the probability of it actually happening is very low, because Bitcoin exists almost 9 years already and it becomes only stronger with each day. Bitcoin is not an investment in some future technology that is promised to be developed, it is already working and it can be very useful even at current state - it can't go to zero unless some disaster happens.

[Direwolve735]

Of course, Bitcoin's phenomenon is overhyped. But I believe that it is not groundless. Bitcoin became so popular precisely because people saw in it those advantages and opportunities that were previously impossible. At the moment the same advantages are possessed by other crypto-currencies. But Bitcoin does not cease to be in demand, because it is considered the most reliable project. As for me, Bitcoin has every right to be overhyped because it meets the requirements that are put forward to it.

[MissionPhailed]

I think the above mentioned term 'speculative bubble' is correct in this case as masses of people are now rushing into crypto due to more coverage in the media. It is some sort of snowball-effect. Gotta say I'm kinda surprised a massive sell-off hasn't occured yet at this point. If that sell-off eventually does occur, the value of most altcoins will probably decrease as well.

[zenhu]

yeah, just like that but i dont think this bitcoin is a bubble and im sure not going to pop too. i mean every day new people come to cryptocurrency world and start learning about it so new comer new investor and the bitcoin price keep on growing

[Spoetnik]

Was the Furby ? Tickle Me Elmo ? Cabbage Patch Kid dolls ?
History speaks loud & clear.. dot com bubble bursting or not.
Housing market hollow investments or not.
Govt bail outs... or not.

interac etransfer costs $1 and takes less than a minute.
Bitcoin can take 30 hours and cost $4.

As an 8yr old currency it's failed miserably.

[Lancusters]

I think the above mentioned term 'speculative bubble' is correct in this case as masses of people are now rushing into crypto due to more coverage in the media. It is some sort of snowball-effect. Gotta say I'm kinda surprised a massive sell-off hasn't occured yet at this point. If that sell-off eventually does occur, the value of most altcoins will probably decrease as well.

Alternative cryptocurrency created only to service the bitcoin. They will disappear first if the price of bitcoin will begin to decline.Nothing surprising in the fact that the mass selling of bitcoin hasn't happened no. Bitcoin only at the beginning of their recovery. Its popularity is only growing. What's the point to sell coins now?

[plr]

i didn't do any survey it was just the overall opinion i got, when i saw who was starting to talk about bitcoin and so on. also it has become a more and more popular topic at coffee-talk. this was more an assumption.

Well you should read more about Bitcoin and the general consensus and how well accepted Bitcoin in so many countries now, although there's still a lot of resistance I believe wide adoption is coming forth sooner than we all expected.

[taiwww]

Unexpected /sudden but huge rise in price in a very short period of time have surprised many. Those who have made their minds that bitcoin is a fraud and its price rise is a bubble are still firm on their statements. But there are people defending bitcoins, bitcoin price is rising because bitcoin have that potential, people are buying more and more bitcoins, they have confidence in this cryptocurrency. These people are wise, when the price stops rising they book their profit and sell bitcoins. Bitcoin is not overhyped; it has crossed many obstacles like ban, regulations by many countries. It has also faced bad publicity in ransomeware attack case. Still it is growing its price.

[eaLiTy]

i didn't do any survey it was just the overall opinion i got, when i saw who was starting to talk about bitcoin and so on. also it has become a more and more popular topic at coffee-talk. this was more an assumption.

With the price of bitcoin crossing over ten thousand and the growth it had in a single year cannot be turned down by any major investor and sure it will have an interest from every nuke and corners and people will try to learn and understand about bitcoin and boast about how fortunate the early investors were and how they reaped a big enough profit and so on,the sudden price rise to these levels is surprising in a short period but with the limited amount of coins and new investors coming in,it was bound to cross these valuations.

[AVAMONEY]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

Altcoins have been pumps and dumps for attacking market price.
Many people new to crypto without doing deep research about how Bitcoins price was increasing fast in this year, how forks creates new altcoins, and many thing. People only understand buying bitcoins and hold it then will get profit by.

[X2PR8888]

I don't think bitcoin is overhyped simply because majority of any country's population let alone from where I am from, do not have a clue as to what bitcoins are all about.  If it is overhyped then everyone would be goig crazy over it and putting their money in the system to trade without a moment's hesitation.  I agree how people have been saying that bitcoin isn't overhyped and that it's just simply gaining more value now because of its potential to be worth so much more intrinsically and to all bitcoin users.  Overhyped, after all, is being popular and then only finding out that it isn't worth much but in this case, it is the exact opposite.

[jseverson]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

I think you're reading too much into it. While people who have no idea what Bitcoin really is truly are a greater dump risk, they also usually have very few amounts to begin with. People who do invest significant amounts make sure what they're getting into -- that's the difference. You also have to keep in mind that dips encourage buys.

As for the daily payment currency part, I don't think so. Majority of people aren't interested in Bitcoin as a currency; they're only in for the investment. Heck, it's being touted as digital gold. You don't pay for your daily purchases with gold. People know what they're getting into. Even then, the community is trying to address issues. We were able to implement Segwit, with Lightning Network up next. Bitcoin is very much a work in progress.

[MissionPhailed]

I think the above mentioned term 'speculative bubble' is correct in this case as masses of people are now rushing into crypto due to more coverage in the media. It is some sort of snowball-effect. Gotta say I'm kinda surprised a massive sell-off hasn't occured yet at this point. If that sell-off eventually does occur, the value of most altcoins will probably decrease as well.

Alternative cryptocurrency created only to service the bitcoin. They will disappear first if the price of bitcoin will begin to decline.Nothing surprising in the fact that the mass selling of bitcoin hasn't happened no. Bitcoin only at the beginning of their recovery. Its popularity is only growing. What's the point to sell coins now?

Are you talking about a scenario in which BTC goes into a death spiral and eventually flatlines due to crypto going bust? Yes, then all alts will drop like flies. This would not be the case however if a speculative bubble deflates. I find it personally surprising that a significant sell-off of BTC hasn't happened yet as the cryptoworld is still dominated by speculators and prices have risen over 1200% (BTC) this year alone.

[Youghoor]

And this is another guy just asking the same question that has been answered and replied thousands and thousands of times already.

It is overhyped, but what is the problem with that? The price is increasing = your balance is increasing too = our balance is going up = we are making a huge amount of money from that.

So i dont see anything wrong with that, we just need to know when to leave the market and that is it.

Or you are going to keep holding ur bitcoins while the price starts to crash?

The real question in here is, when it will crash? Because no one can answer it.

[Sweeet123]

I don't think bitcoins are over hyped, they have seen a great deal of increase in its value, because they have become an asset over time, every month you hear news of its value going higher, this is because bitcoins provide a highly secure way of payment and also gives a better privacy to the user and due to these reasons people have turned their attention towards bitcoin, and mind you not everybody can afford to have bitcoins, so calling bitcoins as over hyped is an overstatement

[bribed]

I also think that Bitcoin is kind of overhyped at the moment. The rapid increase of price is not healthy. This can hurt plenty of small investors that buy in now, as soon as some big fish will start to cash out. Never run behind hype, just let it pass and wait for the next one and be prepared this time. I think it would have been much better if Bitcoin has had an organic growth throughout 2018 to the price it is traded now, but you cannot talk reasonable to the market!

[FasTroy]

yeah, just like that but i dont think this bitcoin is a bubble and im sure not going to pop too. i mean every day new people come to cryptocurrency world and start learning about it so new comer new investor and the bitcoin price keep on growing

Yes, when the community will be more larger, automatically bitcoin price will increase to high due to the increase of people which they use bitcoin. Personally, I think that bitcoin will achieve the 40k$ in the next year.

[malikusama]

You have asked many questions, i will try to answer each of them.

will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

Not really, no one throw his/her money in a pool just by seeing others doing the same, everyone who is in this business is well aware of cryptos and they know about it's worth and use.

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

Transaction cost have reduced a lot as compared to past and it will going to improve more with Segwit and with the next big thing which is Lightning network, cure to all these problems. No usability are you sure? Many stores and restaurants are already accepting bitcoin as payment method specially some online shops.

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

No doubt altcoins are somehow dependent on bitcoins and have to face some serious dumps in both rapid growth and fall of bitcoin but don't worry they will also shine if the bitcoin fly high.

[1NV3ST0NM3]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.


but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

Well most of the experts around the world claim with 100% surity that bitcoin is a bubble and then comes this community we have here which says that you are not able to see the future potential in this currency. But yes its true that some people are investing in cryptos quite foolishly. personally I think bitcoin will increase in its value and it will become good as investment but don't rely much on it as a currency.

[Nilda]

No. This is merely the beginning. 2017 is a good year for bitcoin, the year most number people took notice. Traditional Media outlets flashing BREAKING NEWS on its record surge. Cryptocurrency is the thing of the future.

[RodneyKings]

Yes, it is. But it's good for us, so let's hype it too

Agree. I think Bitcoin has all the rights to be overhyped  Its been here for years now and it already has a name trusted by a lot of people worldwide. It probably just lately that it became more popular and its been all over the news so I guess let's just enjoy what it brings to us investors for now 

[Spoetnik]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.


but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

Well most of the experts around the world claim with 100% surity that bitcoin is a bubble and then comes this community we have here which says that you are not able to see the future potential in this currency. But yes its true that some people are investing in cryptos quite foolishly. personally I think bitcoin will increase in its value and it will become good as investment but don't rely much on it as a currency.

You all line up to spew so much stupid bullshit it's not even funny.. it's downright scary !

One guy says yeah it's Overhyped but that is not a bad thing.
Really ? Gimme a break  

The guy I quoted here above said "..become good as investment but don't rely much on it as a currency"
Uhhmm what ? ahhahahahhahahah  
Then WHY the fuck are you investing in it then ?
Because the price is going up ?
HOLY FUCK YOU PEOPLE ARE STUPID !

You all think you're such experts ?
Google search PYRAMID SCHEME investards  

[Strictly_Business]

 Replying to the bubble dilemma- whether speculative or not, I personally don't see bitcoin crashing down to zero unless the market is gulped up by CME, NASDAQ, etc... They'll determine the price points in that case so that they'll be inline with their futures contracts. "It takes money to make money" is the phrase most of the bitcoin community seems to be ignoring.

 With that being said, if all of the HODLr's stuck together and sold in the million dollar range, I believe the price would continue to climb in that scenario. The chance of them wanting to sell is slim to none, even if it could prevent them from losing their investment and furthering the longevity of cryptocurrencies.

[Nawaytes]

This is about hypebeast, Bitcoin has been popular in this world because of news and people who tell their story with bitcoin. You know most of people have interests with bitcoin because their friends tell them about bitcoin price, talking about how to be a billionaire in one day only, so people spend their money and start buying. Because those hypebeast wanna be a billionaire!
But it's a good thing, more people buy is more demand, so we can pray to see 1 bitcoin = $1million. Bubble? I don't think so.

[Sir Cross]

You could say Bitcoin is hyped, in order to increase the price. But this huge price rise is not only because it was hyped. Bitcoin has an enormous potential and the fact that it's a decentralized currency, which made it so popular, have made this high price possible. Also because the financial institutes saw a new product to make big profits with.

The hype over bitcoin has definitely contributed to the increase of price but I believe that bitcoin is not overpriced. It has sparked the interest of many and made a lot curious about it however it’s still very much in the dark. Some investors experience FOMO upon hearing it and are eager to invest on it immediately. It’s becoming more and more popular because of this.

[senin]

In my opinion, bitkoyn is indeed overvalued in price and has in this connection some properties of the bubble. So, the majority of people who invest in it do not do it for the sake of some internal value of bitcoins, others have some useful qualities, but for the sake of getting a big profit, proceeding from the fact that for a long time it continues to grow in value. Such a sharp demand for bitkoyn leads again to an increase in its rate, which leads to new investments in it. Thus, everything goes in a circle and in the end we have a regular financial bubble that can sometime burst.

[Spoetnik]

I am loving the creative spelling of the word "Bitcoin" from pajeet noobs.  hahahahha
"bitkoyn" ? 

People it's pretty simple.
Did Bitcoin rise up in value from a grand to 10 grand because of it being used as intended (as a currency) ?
No ?
Then why ? The answer is staring you in the face.. or in the Altcoin section.
Where every noob chump loser keeps posting "What coin should i buy to make me rich ?" over & over.

What *IS* and the moronic rabble that gets posted here all the time are two different things.

[iwj77]

Your opinion about this? www.bloomberg.com/amp/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

[cryptojedi]

Watch what Da Hongfei, CEO of NEO, says about BTC bubble. Yes, even if it s a bubble, so what. All great tech which used to disrupt the previous systems were bubbles. Card, internet, etc. The most important thing is that even if there would be a small price retreated, they would always come back to even higher levels.

So stop thinking about what price will be tomorrow. Think about the price in 5 years!

[Keptone]

It is the normal rise, No hypes, let me give a sample...
If you own a product that does not  get consumers  attentions at the beginning of your distribution, what would happen with your price?
Won't you sell cheap to attract customers, even if it would be there first time, and after then, and it has been tested to be awesome they will all be seeking to get your product, just for any cost, why? Because it is fantastic...

Then you began to have shortage in supply unlike when you started,  what then would be the next option?
The Next thing a good business men would do is, to inflates the price of there product, to get the serious, desperate buyers out of the whole seeking to buy. This has been the logic in market...

[Spoetnik]

Your opinion about this? www.bloomberg.com/amp/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

Look at those resume's then look at how non transparent it all is.
What do you think ?

The enemy which BTC was designed to circumvent showed up here and took all your money people.
What is the point in putting out a currency that works with Bitcoin ?
Why not just make Bitcoin work as intended ? (as a currency)
Tether stinks and i sure as hell would have nothing to do with it ever.

On Topic though.. 

You are scammy noobs posting retarded gibberish.

https://en.wikipedia.org/wiki/Stock_market_bubble
https://en.wikipedia.org/wiki/Stock_market_crash
https://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds

A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles.

Stock market crashes are social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions:[1] a prolonged period of rising stock prices and excessive economic optimism, a market where P/E ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants. Other aspects such as wars, large-corporation hacks, changes in federal laws and regulations, and natural disasters of highly economically productive areas may also influence a significant decline in the NYSE value of a wide range of stocks. All such stock drops may result in the rise of stock prices for corporations competing against the affected corporations.

There is no numerically specific definition of a stock market crash but the term commonly applies to steep double-digit percentage losses in a stock market index over a period of several days. Crashes are often distinguished from bear markets by panic selling and abrupt, dramatic price declines. Bear markets are periods of declining stock market prices that are measured in months or years. Crashes are often associated with bear markets, however, they do not necessarily go hand in hand. The crash of 1987, for example, did not lead to a bear market. Likewise, the Japanese bear market of the 1990s occurred over several years without any notable crashes.

[icanscript]

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

[Spoetnik]

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

The question is "is bitcoin overhyped".
NOT is some sort of digital currency a viable thing one day.
It would behoove you all to be grounded in reality.. not fantasy.

"only the beginning" ?

Yup the one day retort.. played here for 8 fucking years.
Why ?
So you can profit *NOW*.

.

[cryptosluck]

its nt bitcoin over hyped it bitcoin value is millions of dollars so it is long way to go

[kefir56]

It won't have such a value if it wouldn't be overhyped, it dealed it a great success, so now the attention has got the cryptocurrency itself, and BTC goes down

[faaty]

I see that this topic is created in the beginning of december and it was really overhyped at that time. So great analysis. It was obvious that we would see this bear market after that huge hype. Markets and generally goes between overvalue and undervalue. Now it is undervalue time and we will see another hype soon.

[Crytptohack]

IMO, I do not think BTC is 'over subscribed'. There are a lot of people in this world that have not even heard of digital currencies yet and this market and BTC will only continue to grow going forward.

There is ~7 billion people in the world and a percentage of those people (adults) have $ in their own currencies that continue to be debased. They can allow inflation to eat away at their currency or they can purchase a hard asset like real estate, gold, silver, etc...  Or maybe even BTC which there will 'only' be 21 million.  Think about that, 7 billion people and 21 million bitcoin...  That is why people say that it can go over $100,000 a coin.   If fiat continues to be traded in for BTC, it will be pushed higher each year.

As far as the 'alt' coins/tokens, there are so many s**t ones out there that they will eventually disappear when the major purge/crash happens. I think it will be similar to the dot com bust in 1999/2000 where anything with a .com went up in price. After the crash, most of them went bankrupt.....0.  The same thing will happen to the s**t coins, 90%+ will disappear.

[Aderiho Bitjones]

Relatively recently bitcoin became mega popular among the whole world. Many thoughtlessly began to invest. Then the price jumped, now the price has fallen a little all began to worry. Because they do not know the basics of crypto currency.

[solopay669]

everything can be, perhaps everyone is talking about a bubble, because everyone is scared of the large volumes of bitcoin, I think it's a myth that bitcoin is a bubble, and everything is stabilizing.

[igorkupcov3009]

Bitcoin  is a peer-to-peer electronic payment system using the same units for accounting. Bitcoin's own website is characterized as a "digital currency". In official reports of the World Bank, the ECB and the FBI - "virtual currency."

[alisaserdceva]

The ministry claimed that Mt. Gox adversely affects the US. Soon American companies Bitcoin reported that banks ignored them, simply because they did not want to risk it.

[monkeydominicorobin]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

Bitcoin is not a stock. Remember that. Since it is not a stock it will not burst like a bubble. It is a technology that will dominate for a thousand years. It changed the way people store important information through blockchain technology.

[online73]

bitkoyn overstated, - my opinion, absolutely not correct statement of the current price for Bitcoin. No one will say today the best price for Bitcoin. To date, the price determines the ratio of supply and demand. About bitcoin can be said - is a digital asset, a new formation and its price from 1 to 20 000 $, Bitcoin does not apply assessment principles as to the dollar or any other asset. I would not use the definition of "overvalued" or "understated" for any digital asset, - what price is today on the exchange, such a price is real.

[TheGodFather]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

No, I don’t think that bitcoin is overhyped I do think that some of the cryptocurrency users have been disappointing in their attitude as it seems that they think that bitcoin would be something that can magically put their financial problems at ease when in truth bitcoin has always been like this and in the first few months or when it was starting out nobody thought that bitcoin would be this way and now they’re all saying that this is something new to bitcoin.

[naughty1]

Yes, it is. But it's good for us, so let's hype it too

It's crazy when you want to exaggerate it. The consequence of this is really great, and you can clearly see it in the present life. It was exaggerated, and soon after, it collapsed ominously, so many people suffered more than 50% of their money.

[cofinder]

It might be kinda hyped, but when the topic of our conversation relates to cryptocurrency the definition of hype changes. BTC's existion depends on its popularyty (the more popular it becomes, the bigger its value). Besides, together with growing in popularity, grows its  possibilities (for example more and more services might be paid in BTC). Therefore it can’t be overhyped, 'coz the more popular it becomes, the bigger its actual value.

[cryptokingpins]

I think bitcoin itself was overhyped at a point but blockchain technology is still in its infancy

[teterinal]

the hype did good to the bitcoin last year. since the demand increased, the priced increased, and now that the hype is declning the price is decreasing

[thinkabout]

I know that the fact that bitcoin is a decentralized currency that makes it so popular has made this high price possible. Also because financial institutions have seen a new product to make a big profit with.

[tobreak007]

For those who do not know about the forks, etc., who is the fault? This will make them lower. because financial institutions have seen a new product to make a big profit with.

[Ahimoth]

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

The question is "is bitcoin overhyped".
NOT is some sort of digital currency a viable thing one day.
It would behoove you all to be grounded in reality.. not fantasy.

"only the beginning" ?

Yup the one day retort.. played here for 8 fucking years.
Why ?
So you can profit *NOW*.

.

Well bitcoin is gaining a popularity so it's not hard to believe why other's are getting crazy over it. I don't think if the term "over hyped" should be used because it is unfair for bitcoin since it's able to deliver the expectation. Bitcoin is surpassing all the expectation so saying that it is just over hyped wouldn't be appropriate. Bitcoin is just too good as a system.

[AliMan]

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

The question is "is bitcoin overhyped".
NOT is some sort of digital currency a viable thing one day.
It would behoove you all to be grounded in reality.. not fantasy.

"only the beginning" ?

Yup the one day retort.. played here for 8 fucking years.
Why ?
So you can profit *NOW*.

.

Bitcoin is too good as a system and I'm a witness to that so I will fight for what I believe. I don't think if the word "over hyped" is appropriate for bitcoin since it is being able to deliver what is expected from it. If you're talking about the craze of the people with bitcoin to prove yourself that it is just over hyped then I should say that it's a normal response because bitcoin is just so good.