Is Bitcoin now the biggest bubble of all time?

[a-dalora]

The thing with us bitcoiners is that we never really accept anything until it is laid out in front of our eyes. Stats don't mean shit to the most of us because bitcoin has the tendency to ignore the statistics and history and draw its own line. I am thinking that bitcoin is somehow the start of a new era of cash, and the increasing price is only a demonstration on how far this thing can go if almost all the people in the world get involved. Unlike tulips, bitcoin has its own practical uses that most of us can really take advantage of, so unless everything goes south, bitcoin in my eyes would never be a bubble.

You are absolutly right !  The originator of this thread missed some import points.
Only one is that the tulip hipe was about tulip bulbs. Unfortunately every customer acquiring one is able to multiply it simply by using it. So effectively, as soon as one tulip bulb is sold to a non-speculator, it's value is destroyed.
Maybe there could be some similarities to Proof of Stake based blockchains. Surely not to Bitcoin !
Bitcoin's inherent feature is, that it is not possible to multiply it's number. That the ownership of bitcoins does not generate automatically new value for the holder.

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[a-dalora]

Bubble or not as long as we earn from bitcoin, who cares? I think if bitcoin is a bubble it had already burst. Right?

Absolutely. Bubble or not still bitcoin is bitcoin and we're all profiting with it. I just don't get it why people always says that bitcoin is a bubble when the truth is just in front of their faces. We've seen how it struggle and when it recover it just surprise us whenever it bounce back.

That's not the same. We are profiting primarily from bitcoin as it is our own currency, no one has absolute control about, allowing us to freely  trade and invest. Earning from 'bubble' prices is by exchanging bitcoins to fiat at a higher price than it was bought. Leaving the cryptoworld ! And trading an asset.

[MyIdeas]

I think the bitcoin cryptocurrency money is one of the greatest financial bubbles of all time.

If you think something is not that much stable as others, then it is a bubble, if this is the case you consider I must oppose this. Reason is, there are so many big differences between crypto world and that is of fiat. But the one and the important is, these coin prices don’t stable. They are always going up sometime and then declining with much acceleration. So yes or no, it differs.

[MMA]

I think the bitcoin cryptocurrency money is one of the greatest financial bubbles of all time.

If you think something is not that much stable as others, then it is a bubble, if this is the case you consider I must oppose this. Reason is, there are so many big differences between crypto world and that is of fiat. But the one and the important is, these coin prices don’t stable. They are always going up sometime and then declining with much acceleration. So yes or no, it differs.

In very beginning when bitcoin was not as such popular and when the investor of bitcoin were few then the significant increase in the price of bitcoin in a short period of time would consider as bubble, but in current time as the bitcoin investor are spreading throughout the world even in backward countries people are now taking interest in bitcoin to invest their money there. Therefore i think the current increase in the price of bitcoin cannot be consider as  bubble, but it is because of the increasing demand of bitcoin by the investor and hope that this trend of increasing the price of bitcoin will continue for a long time, because still bitcoin has too much potential to increase it price because of the increasing interest of the new generation and young investors.

[a-dalora]

I think the bitcoin cryptocurrency money is one of the greatest financial bubbles of all time.

If you think something is not that much stable as others, then it is a bubble, if this is the case you consider I must oppose this. Reason is, there are so many big differences between crypto world and that is of fiat. But the one and the important is, these coin prices don’t stable. They are always going up sometime and then declining with much acceleration. So yes or no, it differs.

In very beginning when bitcoin was not as such popular and when the investor of bitcoin were few then the significant increase in the price of bitcoin in a short period of time would consider as bubble, but in current time as the bitcoin investor are spreading throughout the world even in backward countries people are now taking interest in bitcoin to invest their money there. Therefore i think the current increase in the price of bitcoin cannot be consider as  bubble, but it is because of the increasing demand of bitcoin by the investor and hope that this trend of increasing the price of bitcoin will continue for a long time, because still bitcoin has too much potential to increase it price because of the increasing interest of the new generation and young investors.

That's it. There is need for the ultimate BUBBLE-Coin.

[jennywhzz]

I believe so too. This fluctuative price of bitcoin is a problem, so I think it's possible for bitcoin to crash in any time. I totally believe that it's very risky to buy bitcoin at this rate. That's why I stick with altcoins now

I have been hearing this for last six months that bitcoins price is too high and that it is only a bubble that will burst soon but it never burst and go even more higher. This is because of the fact that bitcoin is not a bubble, it is actual demand which is causing the price to rise so high and fast.
Rather than bubble burst, i think the bitcoin price will go more higher.

[Chosenpai]

Everything is just a bubble that anytime can burst. Based on the factors of bitcoin it is far from over. Although there are some factors that might affect the bitcoin. One of them is the slower transaction process right now.

[jaysabi]

The thing with us bitcoiners is that we never really accept anything until it is laid out in front of our eyes. Stats don't mean shit to the most of us because bitcoin has the tendency to ignore the statistics and history and draw its own line. I am thinking that bitcoin is somehow the start of a new era of cash, and the increasing price is only a demonstration on how far this thing can go if almost all the people in the world get involved. Unlike tulips, bitcoin has its own practical uses that most of us can really take advantage of, so unless everything goes south, bitcoin in my eyes would never be a bubble.

You are absolutly right !  The originator of this thread missed some import points.
Only one is that the tulip hipe was about tulip bulbs. Unfortunately every customer acquiring one is able to multiply it simply by using it. So effectively, as soon as one tulip bulb is sold to a non-speculator, it's value is destroyed.
Maybe there could be some similarities to Proof of Stake based blockchains. Surely not to Bitcoin !
Bitcoin's inherent feature is, that it is not possible to multiply it's number. That the ownership of bitcoins does not generate automatically new value for the holder.

Bitcoin's inherent disadvantage is it doesn't scale, and in that, Bitcoin is just as useless as Tulips and the analogy is appropriate. Bitcoin Cash exists because Bitcoin can't/won't scale. There are now routinely 150k unconfirmed transactions with spikes up to 300k. Fees are sky high. The average transaction fee for Bitcoin is no over $35 while it is about 3 cents for Bitcoin Cash. Bitcoin will eventually lose a great deal of its value because it's useless for payments, a fundamental aspect of a currency. Without utility, all the speculation is not value that will ever be realized. The present conditions make it almost certain that another crypto will supplant Bitcoin as the dominant crypto. The question is just which one is going to do it.

[Brunus Januensis]

"Bubble" is a incorrect word, because it implies a kind of scam or a kind of loss. Actually, anything will end some day, so anything is a "bubble".
But before the explosion, we have a lot of opportunities to work on.

[doomloop]

The Dutch Tulip Mania is one of the most famous bubbles of all time, for the scale of the bubble, the scale of the collapse, and probably including the seemingly obvious nature of the bubble considering the extremely limited functional utility of tulips. Bitcoin has now surpassed the multiples of value appreciation at the height of the Tulip Bubble (and by a wide margin). While this itself is not proof that Bitcoin is a bubble or that a collapse is imminent, it's worth considering if there's a lot more risk buying at this price (currently bouncing around $17,000) than anyone on these boards seems willing or able to recognize.




Thoughts?

For the present time bitcoin can be considered as a bubble for some reasons as it has increased its price from 4000$ to 17000$ in just 3 months and it is a huge margin and also if we see current statistics it has dropped to around 14000$ and is still coming down . I am not absolutely sure on this and no one can be sure but there may be chances that in few years the bubble may explode.

Well, to be fair, 14k is still a lot, I would just call this a correction but eventually it will probably explode or die if current issues are not solved. I do think however that after 1-2 days it will just climb back up again.

It is true anything can happen in bitcoin if today price is high then after some time it can go down and at this stage user should have patience and wait for time when price of bitcoin will get high. It is not having any fix rating, the only thing that will give you profit is your own patience. Hold bitcoin and soon price of bitcoin will increase and give you profit I love bitcoin for my benefit because of bitcoin price change.

[olubams]

A lot of time we interpret something that would be better in the long term as this. Even at the current price which is a free fall from the highest level we have witnessed, but its still a far ahead than where we were few months ago. This is actually a good thing for bitcoin. A lot of people will see this as a way to mock bitcoin holders or even people involved telling them "I said so" but its going to be short lived as we are going to be back stonger.

[bitcad4u]

A lot of time we interpret something that would be better in the long term as this. Even at the current price which is a free fall from the highest level we have witnessed, but its still a far ahead than where we were few months ago. This is actually a good thing for bitcoin. A lot of people will see this as a way to mock bitcoin holders or even people involved telling them "I said so" but its going to be short lived as we are going to be back stonger.

Bitcoin now the biggest bubble of all time because it's a digital currency and it implies a kind of scam or kind of loss actually anything end someday so anything is bubble but before the explosion we have a lot of opportunities to work on and everything just a bubble that anytime can burst and one of them are slower process of them.

[M3TH0DM4DN3SS]

I don't know if anyone pointed this out because this thread is tldr. There's a similarity between bitcoin and all of the bubbles in this this chart. They both seem to have little bouts of recession that are proceeded by a huge spike. I'm literally dying over here because someone I know was trying to convince me that bitcoin is here to stay, and and not to worry about a bubble popping because of this exact reason. He said "Bitcoin keeps taking one step back three steps forwards". I think at the very least, these should be little reminders of just how fast the price can drop in such short spans of time.

https://i.imgur.com/s2WGkSi.png

https://blockchain.info/charts/market-price?timespan=all

[Chosenpai]

Well, if everyone of the investors will pull out their money its bitcoin. It will surely collapse. Bubble or not, we are here because bitcoin is giving us an opportunity to be richer than before.

[genocide]

I've heard opinions from a lot of financial professionals and they think that Bitcoin is a dangerous speculative bubble, and that Bitcoin getting more legitimate is kind of dangerous for investors. Well, I personally believe that bitcoin is a bubble, we just don't know when and how fast it will lose its value. But a part of me hopes that it won't because I want it to continue to grow more and become stronger in the future since Bitcoin really helped me a lot with my financial needs. If ever bitcoin really is a bubble and it goes down, it will surely hurt the last investors the most. Lucky are those who got out and profit already even before the bubble bursts.

[jaysabi]

"Bubble" is a incorrect word, because it implies a kind of scam or a kind of loss. Actually, anything will end some day, so anything is a "bubble".
But before the explosion, we have a lot of opportunities to work on.

The term "bubble" doesn't denote a scam, it just denotes an asset whose value has become disconnected from reality as it trades on momentum without any regard for inherent value. Alan Greenspan termed the coin "irrational exuberance" to describe the stock market during the tech bubble in the 1990s. Crypto is definitely in a bubble phase, the parallels with the tech bubble are uncanny, with companies with no real business or assets changing their names to include the word "blockchain" in their name and experiencing stock pops for no reason other than the name change. Classic bubble.

[bitgolden]

In my opinion, Bitcoin will defeat fiat currency in the upcoming days, as we see how people become crazy in digging with bitcoins, this is sign of success, and i believe this will become a  universal currency in the future.

No I don’t think so. These kind of statement has no value because those are the jealous people who say that bitcoin is a bubble and will burst out anytime and all the investors will lose their investment. I think these are the brainless people that give such false statements about bitcoin.

Nothing will happen to bitcoin and with the passage of time all the people in the world will use bitcoin as their regular currency for their daily expenses.

[AyaYotoko]

This can be biggest bubble no doubt.........

The digital currency market faces its massive price appreciation over the course of 2017 is only the latest step in a rally that will see it multiply several times over from its current levels. BTC price has now gone up over 17 times this year, 64 times over the last three years .

Anytime this bubble can be burst......

[Ludwig van Cryptoven]

Nothing is a bubble, until it crash. So, the best strategy is to profit now; then, we'll see

[ngefek berat]

Bitcoin in my opinion is one of the greatest assets if it is for one's investment Because price movements often change so that it is possible to earn an income in a fairly fast time.To be able to meet all the economic needs at any time.