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P2Pfinder (OP)
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December 14, 2017, 10:09:39 AM |
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Dear friends,
Prices of recent months have ignited many discussions about the speculative aspect of bitcoin. On the other hand, if something goes from $ 0.05 to nearly $ 20,000 in a few years, it is inevitable that there are such discussions.
Yet there have been many bubbles in the history of finance, and believe me in almost 25 years of the financial markets i've seen a lot of bubbles, but not necessarily the prices have always grown exponentially: even an increase of 4-5 times the initial price can be synonymous with speculative bubble (just think of the real estate bubbles). But no one has ever shouted "the bitcoin is a bubble!" when this has gone from $ 0.05 to $ 1 ...
Just as there are striking cases in which we can not even think of shouting at the bull, even when we are dealing with situations in which the value of an object goes from 0 to several million dollars. Do you want an example? Leonardo's Salvator Mundi was sold for around $ 450 million. But what is the Salvator Mundi? In extreme ratio it is a canvas, worth a few cents of $ on which a person has painted something: in terms of intrinsic value we are talking about something that is close to zero in terms of value. But if we then consider that it was painted by Leonardo, then here we immediately think it is worth a lot. And if we put together all the paintings of Leonardo, Picasso, Van Gogh and Andy Warhol we would probably go very close to the current capitalization of the ETH or the BCH, but no one would shout "it's a Bubble!", be assured.
Now I'm not telling you "buy, buy bitcoin!". No, I do not say that, but I simply tell you not to be afraid and not to listen to witches and sorcerers: if the market goes up, you follow it. Do not sell before the market has really changed direction. And above all, if you have already sold your bitcoins, do not open short position before the market is bear: never bear a grudge towards past operations, because the past is gone and does not come back and if you have missed an opportunity do not hurry to find a new one! Sit down, have a tea and read a book: sooner or later your chance will come again.
Have a good day!
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Kronos21
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December 14, 2017, 10:20:57 AM |
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Who can say that bitcoin is a bubble? I don't believe it. The only argument in favor of the fact that bitcoin is a bubble is that the price of bitcoin is increasing adequately. But this growth of popularity. Price is secondary in this equation. It just responds to the popularity. Any new product shows a high price after his appearance and over time, the price is reduced and becomes stable. I see no reason to argue that the bitcoin bubble. Therefore, I will never leave bitcoin.
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P2Pfinder (OP)
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December 14, 2017, 10:26:14 AM |
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Read better what i wrote: i call bubble, but i said "stay in till price goes up!". In my opinion at actual Bitcoin price, FEE are too high to permit bitcoin adoption for real world trasactions and this could be really a matter. Who can say that bitcoin is a bubble? I don't believe it. The only argument in favor of the fact that bitcoin is a bubble is that the price of bitcoin is increasing adequately. But this growth of popularity. Price is secondary in this equation. It just responds to the popularity. Any new product shows a high price after his appearance and over time, the price is reduced and becomes stable. I see no reason to argue that the bitcoin bubble. Therefore, I will never leave bitcoin.
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ShortCoins
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Activity: 14
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December 14, 2017, 06:29:35 PM |
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One problem with "riding the wave" with bitcoin that other investments don't have is: Liquidity
Liquidity is a major issue. With fees and wait times increasing with volume it makes it harder to cashout Bitcoin exactly when and how you want to. So if you are correct, and Bitcoin is a bubble, it will be very hard for everyone to liquidate in time before significant damages are done.
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vibingpositively
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December 14, 2017, 06:32:00 PM |
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One problem with "riding the wave" with bitcoin that other investments don't have is: Liquidity
Liquidity is a major issue. With fees and wait times increasing with volume it makes it harder to cashout Bitcoin exactly when and how you want to. So if you are correct, and Bitcoin is a bubble, it will be very hard for everyone to liquidate in time before significant damages are done.
With every passing day though that problem becomes less and less as more money enters the market. Less volatility and more liquidity so that problem is not a big one. The problem I have is that most people who call bitcoin a bubble understand traditional bubbles but bitcoin is by no means traditional. I think they fail to understand what is in front of them and as a result inaccurately describe what is currently on going with bitcoin. |
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Youghoor
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December 14, 2017, 06:36:03 PM |
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I agree, but you can not deny that this is a bubble, only because the price is probably controlled by the whales, the big ones. Just imagine this, if bitcoin gets to $100k, and a few whales decide to sell, the price will probably drop a lot, more than 30% probably. Who can say that bitcoin is a bubble? I don't believe it. The only argument in favor of the fact that bitcoin is a bubble is that the price of bitcoin is increasing adequately. But this growth of popularity.
I dont think that it is a bubble yet, maybe in a few months or in a few years (because the price is increasing very fast) we can re-consider it as a bubble, but not yet. And yes, the price is secundary, but this is probably the only thing that people are paying attention to, before investing all their money in here. |
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MostHigh
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December 14, 2017, 06:37:44 PM |
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This is a wonderful insight into the surge of prices of asset. The painting scenario is world class. So is btc i believe for the foreseeable period ahead, and when i say foreseeable am talking about years not centuries or decades. The prices will go up and if it is a bubble it is a strong bubble that will burst but not now. I will say just quote the jamaican pop musician, Sean Paul, "hold on to the faith"
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Cyber Futurist
Member
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Investor
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December 14, 2017, 06:44:03 PM |
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Bitcoin - big airship, not bubble.
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Iranus
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December 14, 2017, 06:48:34 PM |
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It's very difficult to judge when a bubble ends.
Either you panic sell when there's a dip and then it rises back up, so you buy back in and convince yourself you're "riding the wave" again, or you hold it until the drop is very dramatic and you've lost a large portion of your original investment.
That's why the richest people are generally value investors.
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mahibul49
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December 14, 2017, 06:51:13 PM |
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bitcoin is not a bubble.its accepting all biggest financial institute.do you think they are not studying 1st before accept btc??
just heared a news biggest german stock exchange starting btc trade.
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braveheart
Newbie
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December 14, 2017, 07:02:49 PM |
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I don't think its even got started yet.
It has to correct at some point though and I think there will be a big drop in value, but will recover over the long term.
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mobnepal
Legendary
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Activity: 1218
Merit: 1006
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December 14, 2017, 07:10:41 PM |
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Rather than bitcoin all other alts are in bubble right now, one of the good example of such bubble is ripple it has rose by 4x in just 3 days which can't be a stable pump but many are still riding in that wave. When it will burst many newbie investors/traders might loss huge amount.
ETH, LTC, XMR all are in pumped price without any reason behind.
Bitcoin is actually pumping for long time with some correction in middle and stable floors. Many people are out there still waiting to buy bitcoin so they will just buy it whenever it will be dumped/correct a little bit.
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kevoh
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December 14, 2017, 07:15:50 PM |
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People have been calling bitcoin a bubble even when the price was around $35 back in 2013. As it stands, everything is just speculation. Speculation on the part of those buying and selling with the hope Bitcoin price will go high and they make profit and speculation on the part of those calling it a bubble and waiting earnestly for it to pop so they can say "I told you so..."
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Marry Finch
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December 14, 2017, 07:25:52 PM |
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We can not yet say for sure whether the external appearance of the crypto-currency as a financial bubble is its normal state, or not. After all, the course of the crypto currency basically depends on the amount of money that is invested in it. For physical things, it's a financial bubble. And for digital money? We will be able to judge this only after a certain time. True, and the bubble can then burst.
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FrueGreads
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December 14, 2017, 07:34:39 PM |
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You have every right to have your opinion, but I don't agree with it. You are just focusing your comments on the bitcoin price and how it is increasing. If you just focus on the speculation about the price, then bitcoin would be a bubble. Most people are actually doing that, they are just buying because they want some fast profit, and probably intend to sell bitcoin if price goes down, and this would make bitcoin price to crash.
The thing is that there are those that have bitcoin because they believe in it's applications, and for those the price doesn't really matter. There are also others, that come into bitcoin for the profit, but stay with them for it's true value, once they actually understand it. It's because of this, that even when the market changes, bitcoin will not pop, because these guys will continue to hold it, because they intend to use it. Also don't forget that the BTC price curve, could be an S curve, that is completely normal in advance technologies.
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