Is Bitcoin now the biggest bubble of all time?

[jaysabi]

Element of me feels compelled to indicate growth charts describing automobiles replacing horse driven carriages resembled a bubble. The expansion of personal computers and os manufacturers like microsoft resembled a bubble, as they substituted more traditional paper path based office systems.

1 valid question may be whether crypto currencies signify the next evolution of banking and electronic repayment systems. If a circumstance could be produced for bitcoin eventually making banking systems and electronic fiat useless. What we could be seeing is what occurs someone succeeds in inventing an improved mousetrap. In that case, bitcoin wouldn't be a bubble, it could better be described as the near future? If that makes sense.

It may come down to how a great deal of reputable need there is for technologies like bitcoin. Which something that isn't easy to measure as much as I know. If perhaps there's a real and dire need for bitcoin and crypto currencies which will sustain their progress, it may well not certainly be a bubble at all.

Also imagination mind the chart which depicts bitcoin's growth could be misleading. Bitcoin got an all time high of greater than $1, 000 around 2014. A case could be made for btc trading at nearer to 10x their ATH, which could be sustainable, rather than the 40 to 60 times some cite back to around 16 months in the past.

Growth charts describing automobiles replacing horses was not a bubble because it never popped, therefore it wasn't a bubble. It was a technological shift in the way people traveled. The same thing will not happen for crypto because crypto is not going to replace fiat for the majority of commerce. The price of bitcoin deflated when it hit $20,000, but I would not say it popped. Right now it just looks like a massive correction. A pop of the bubble would likely see it fall to around $2000 or below.

[ThePunisher49X]

It has been said it was since the first couple of years in which it was released and will continue to be called that until it's value reaches what it was worth when it was first put into the public space.
The ones in the media always compare it to the dot com era. Yet we are still seeing some of those companies being successful if not under a different name than what they were when they were released.
See a common trend here?

[play1ife]

To answer this question correctly you should know how bitcoin works. Now a lot of people are confused about it because they don't know and don't want know how it works.

[Dragon5]

 Even though the prices of individual cryptocoins continue to swing wildly—Bitcoin is down almost 50% from its peak—it’s clear that blockchain-based currency is here to stay and that these virtual assets have real, albeit volatile and speculative, value. It means future of businesses in crypto

[cepedacharles29]

With current volatility, it can certainly seem that way. It's definitely a bubble that has grown very fast. Only time will tell I suppose, egulation being the big one to Watch out for. Perhaps regulators can make it a bubble if they so wish.

[South Park]

Bitcoin was bubbling when it hit 20k but it does not mean bitcoin in itself is a total bubble, there are real reasons why bitcoin has value, what happens is we are still struggling to find what it is the fair value of bitcoin and it is something that will always be hard to do since the demand and the state of the technology changes all the time so we can only guess that value and act accordingly.

[blue_nexus15]

I do not think bitcoin is a form of financial bubble because it has existed so long along the same cryptocurrency market, no bubble could survive so long. Along with the development of the current cryptocurrency market there have been a number of countries and large corporations in the world accepting bitcoin in payments and transactions. This is a good sign of the importance of bitcoin in the world financial system.

[Capt00]

Truly it is,  that huge dip on January signifies how it become a bubble,  people won't expect that to happen and many people are getting loss that time.  It's time to learn from it and move on. We are now facing another challenge,  since the market today isn't good and it's very volatile, we should be careful and think many time to avoid from regreting.

[binting]

As I can see that bitcoin is revolutionary currency that ever exist because nobody expect bitcoin able reach this far
And yes, 2017 is the greatest year for bitcoin especially when we are looking for it's value and as soon as it happen, all people become aware for this technology !

Actually the came on my mind is yes because bitcoin is a blessjng so every minute and every time, everyday has a bubble time as you can see in 2017 we blessed because bitcoin is a big quality so that all the people aware of this oppurtunity that high value

[biascoin]

Except

a) Blockchain is not a currency but a database. Forced to "replace the unfair banking system" by becoming another baking system, just controlled by teenagers and random Exchanges.

b) This is pure gambling, and that is why its value is not 0. Paypal and hundred of other currencies exist (including "altcoins").

c) It is not a scarce resource, it is not like gold. You can have as many blockchains as you need / want. There are hundreds of Bitcoin clones, some better even.

"It could come down to how much of a legitimate need there is for technologies like bitcoin"

At the moment, pretty much none. You can do a similar system with videogame points with a regular centralized database and call it a day. Also, PayPal exists, apps like Revolut or n26 also exist, Moneygram, etc.

And even if Blockchain can be used as a currency and we all agree, there is no reason for it to be Bitcoin itself. As for now, you can see scams, exchange hacks and no user-friendly technology.

Part of me feels compelled to point out growth charts depicting automobiles replacing horse drawn carriages resembled a bubble. The growth of personal computers and operating system manufacturers like microsoft resembled a bubble, as they replaced more traditional paper trail based office systems.

One valid question may be whether crypto currencies represent the next evolution of banking and electronic payment systems. If a case could be made for bitcoin eventually making banking systems and electronic fiat obsolete. What we could be seeing is what happens when someone succeeds in inventing a better mousetrap. In that case, bitcoin wouldn't be a bubble, it might better be described as the future? If that makes sense.

It could come down to how much of a legitimate need there is for technologies like bitcoin. That's something that isn't easy to measure as far as I know. If there's a real and dire need for bitcoin and crypto currencies which will sustain their growth, it may not be a bubble at all.

Also keep in mind the chart which depicts bitcoin's growth could be misleading. Bitcoin reached an all time high of greater than $1,000 around 2014. A case could be made for btc trading at nearer to 10x its ATH, which could be sustainable, rather than the 40 to 60 x some cite back to around 16 months ago.

[Jeremiesaranza]

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?

Yes it is now a biggest bubble  to all bitcoiners who love and enjoy bitcoin  world because of its powerful value

[Triyavam]

Bitcoin is the biggest and strongest coin of all time.
Because bitcoin actually has utilities,
bitcoin can be used as currency,
It allows something that was not there before.

[Hotrod_88]

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?

Yes they are the biggest bubble this period of time but still they are the most successful coin. The calculations of the people those experts are true bitcoins is a bubble and they exploded in the late part of the december last year. From $20k in the market and now almost a half are down. And those people still buy bitcoins when they are on the highest peek. That is the worse decision you will ever commit  but i know that they will rise again in the market and will explode again and they will do it ober and over again. Just hold and sell.

[Bowly88]

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?

Yes they are a bubble but the good thing is they have a regeneration feature and now yhey are slowly recovering all the prices t are gone in the huge explosion of the bitcoins last december. And that is not a problem since they are still the number one coin in all the cryptocurrency so even if they have fallin a huge price they are still the number one and there are some rumors thay they will be much more huge before the year ends.

[leath08]

I do not believe bitcoin is a bubble, Bitcoin is the future.

[Gabrieelle]

I believe that bitcoin is not a bubble it just drop big time because of all the fuzz happening and now its correcting it flow.

I guess thats the spirit we all must have, just think positively and the outcome of it will also be positive. With all these dropping of the value of bitcoin is happening a lot of people are losing hope with bitcoin, but little do they know that it is normal since bitcoin is very volatile. How high the price went up in just a span of time is also why it is dropping rapidly.

[putrisa]

I see the graph you put on it feels awful from this bitcoin movement really a very horrible bubble for new players who buy at the price of $ 20k must be very depressed to see the current price falls very deep.

[biascoin]

Maybe the one that do not know much about economy is you.

And no, volatility is not good except for trading and gambling.

I believe that bitcoin is not a bubble it just drop big time because of all the fuzz happening and now its correcting it flow.

, but little do they know that it is normal since bitcoin is very volatile

[South Park]

When people see a growth that they can't understand (or that they lost), they call it "a bubble".
Anything will have an end, so anything can be called a "bubble". But in the meanwhile, you can use it and make a profit.

Even if you do not take into account the all time high and take 10k as the base price of bitcoin that is still a 10k increase in a year this is huge, and there is a reason for that growth segwit finally got activated which is laying the foundation for the LN this is important since bitcoin is a lot closer to become a payment platform that can be used by the whole world, this is why the price grew so abruptly.

[cryptbit.man]

It really depends what parameter are you using to define big. If you're talking about money invested, impact of the pop or how much it affected people's life.