How to determine if Bitcoin is a bubble or not.

[Goorobo]

I started this poll to better understand BTC use. What do people use BTC for that ordinary credit cards or cash would not work or are not preferable.

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[brituspol]

You started this topic on a Bitcoin forum... with the increasing prices, people here are hyper-positive about it.

As for its uses that RL currencies don't have, well there's like 1000s of posts/articles written about it. But the one I can commend BTC or any other crypto is that its anonymous, (is supposed to be) fast and secure.

Edit: Also, ref-links aren't really allowed on the forum outside of signatures... just something to keep in mind.

[Goorobo]

Recently almost everyone I talk to says they want to "Get into Bitcoin" but when I start asking them some fundamental questions such as what will you spend it on? What will you use it for?  They draw a blank. I don't like to say "Tulip Mania" but there is so much money pouring into Bitcoin that it is inevitable that a price crash is right around the corner. For investors it's a great opportunity to buy, for speculators, usually trading on margin they could get wiped out. If you use BTC simply as a vehicle to transfer value you will be somewhat safe.

[boboking]

I started this poll to better understand BTC use. What do people use BTC for that ordinary credit cards or cash would not work or are not preferable.

No one will be able to determine tif bitcoin is a 100% bubble. Most skeptics do not really understand blockchain technology or they have their own motives for bashing bitcoin.

For the question what to do people use bitcoin for you are basically asking this question what do people use money for. I personally use it for investment and trading i do not use it for purchases specially right now that the fees are really high.

[Goorobo]

If you look at Bitcoin's price charts you will see that historically it has risen dramatically in a short period of time only to crash hard and wipe out short term gains. The only way to trade BTC as an investment is long term. In the short term a lot of naive investors will lose a lot of money trading crypto hoping to get rich quick.

[Reid]

Is the purpose to differentiate bitcoin from others like credit cards or to see its weaknesses?
Sure, there is no problem using this credit cards but why do you think those agents keeps on pushing people to get one.
The offer from the banks from those agents are high amounts of money and why would they pay like that if they wont get any?
Imagine a million people using only one kind of credit card. That will also be millions annually for the bank.

Bitcoin dont have that fees so I will pick it. It aint a bubble. They just keep on telling that to bring it down for their own selfish reasons.

[Goorobo]

In my opinion the price of Bitcoin is about to crash and here are my couple of my reasons why: 1. Historically BTC's price has spiked and crashed only to recover after massive panic selling (classic market manipulation). 2. Too much new money entering the market that does not understand what they are investing in (Does anyone really?). 3. New futures markets day trading BTC are looking for quick profits and are playing a zero-sum game in which someone always loses. 4. BTC is not that liquid, unlike gold cash etc. that you can slap down on any counter and buy groceries with I have yet to encounter a grocery store where I can pay in BTC.

[Goorobo]

If you consider BTC to be an investment can I ask how long investors plan on holding their position without cashing out? 5 years, 10 years or 15 years and more?

[checkmate25]

The neverending question, hehehe I do think it still could be. but think about it. what's the difference from the old bubbles?
communication. Twitter, facebook, telegram, reddit etc.
People learn

[pooya87]

your poll has nothing to do with your question!
people may use bitcoin in any number of the options you provided here and bitcoin still be or not be in a bubble.
and right now i believe we are in a bubble but not in the way most people think it is. instead it is a small bubble that will be corrected in a short time with a small drop. of course that is under normal circumstances, we can never predict what unexpected things are going to happen in the future.

[Goorobo]

I agree with you, BTC is the gold standard in Crypto and a great investment long term. It was the first and has made many ordinary people with an interest in the web into multi-millionaires. However we are on the verge of a BTC price crash. Savvy investors will buy low at the cheap prices. Naive speculators will lose their asses panic selling.

[Baimovic]

I think today is a small gelembng that can give pleasure to its users. but it will not stop long, because nobody knows to predict.

[brengoskandel]

Bitcoin is a bubble, as we know the bitcoin price is getting higher each day
and it is not impossible that sometime after bitcoin reaches the highest price the bitcoin price will drop. This is influenced by the increasing number of bitcoin miners and the high demand for bitcoin.

[Goorobo]

What types of other online activities can you do with BTC that are not gambling, trading, investing or dark Net? It would be great to hear ideas.

[farhaan]

Any asset which is over valued than its original value and which could be expected any time to get crashed could be termed as a bubble.I would say that any asset which has only use as an investment and no other use and its price increasing unlimited at a fast phase could be termed as a bubble.But here bitcoin is not only used a s a digital asset but also its being used a s a currency in japan in almost all retail stores.More over,trader buy and sell it to make profits.Also,amazon and other big companies are expected very soon to accept bitcoin payments.By this way,there is always a huge buy wall for bitcoin which would not allow its price to get crashed.So,its not a bubble.

[hessanseen]

Maybe they are all looking forward to the future of the block chain. Now the influx of funds is not the same as the tulip bubble in seventeenth Century. Bitcoin is supported by a large number of users, but tulips are only playing games among a few princes at that time. In addition, bitcoin has a practical combination with many projects, and the bitcoin community is developing step by step.

[Kakmakr]

What a silly thread. The Title is asking about a Bubble and the content & Poll is asking about Bitcoin use.

Bubble? - Nope, it is not a bubble, just some speculation and real adoption mixed together.

Bitcoin Use? - Let's be honest, with the price this high, most people use Bitcoin as an investment and a store of value. <People want to be rich and they think Bitcoin is the method to do that.>

[Goorobo]

Why would someone choose to pay for something with BTC when plain ol' cash will do? Also with the transaction fees for BTC wouldn't you waste a lot of money spending it? Most people are looking at Bitcoin as an investment and I think that is a very risky proposition.