Are we in a Bitcoin Bubble

[Notmyfault7]

I do not understand why all you guys call this bubble? If you cannot figure out the value of the BTC, then how can you call it a bubble?

[jan wanst]

Time will tell. Any invention must be self-evaluated. Who knew 50 years ago that the Internet will be so popular. If ingenuity is successful, then there will be success.

[rbv]

there was a nice info graphic somewhere that shows how much fiat is involved in different companies and technologies. all was drawn as pink bubbles :-P the point, however, was that compared to other entities there is still not much money involved in cryptocurrencies and since they have the technological ability to attack world-wide authority-based finance I don't see why it should be tremendously overvalued. nevertheless, I'm sure  bitcoin won't stay the top coin forever, too much progress was made since it's invocation in 2008. for example, IOTA is based on the tangle instead of the blockchain and is therefore able to perform feeless and fast transactions, as well as being prepared for growth since the system becomes faster the more people and machines use it!

[Chris marshall]

The crypto bubble is tiny compared to the whole banking/investment industry which it will likely replace down the line.

[GlobitexGBX]

To compare: Gold has been in a bubble for thousands of years.

[hans.zimmer]

I think that cryptocurrencies truly are in a bubble. The thing is, noone can predict when it will burst. It maybe some months, but maybe several years. We had a number of such cases in the past (like the dot.com bubble), and it will always happen as long as there is a total excitement on the market. But this doesn't mean that the bubble will burst and cryptos will be buried in history. We may have a bear market for some time but it will gradually develop and reach new highs. I personally believe that blockchain is the technology of future and it will 100% change the way we live.

[xiaowu55]

Now many people believe that the Bitcoin is full of bubbles, they have their own reasons, but I don't think the currency, now found that block chain got great development which is the trend of history, so don't worry about it

[goldexp83]

There are much bigger and dangerous bubbles currently bro, are you aware of that? just check USA or Japan debt, those are like close to 200 Trillions and growing every second we talk!!! Bitcoin in comparison it's a still a tiny cute small baby, keep that in mind, to the moon!

[cryptoflip.it]

Everyone thought it was a bubble at $1k, they thought it was clearly a bubble at $3k... Now look at it.

[Vik_the_Carpentner]

Everyone thought it was a bubble at $1k, they thought it was clearly a bubble at $3k... Now look at it.

And still a lot of people guess it's a bubble. Nothing changes really.

[Marteel]

nope, it is not a bubble, it is revolution folks.

[LuckySarah]

Everyone thought it was a bubble at $1k, they thought it was clearly a bubble at $3k... Now look at it.

And still a lot of people guess it's a bubble. Nothing changes really.

I hope it's not a bubble. The people who say it's bubble are wrong but that people who says it's a future are wrong too. It's a beginning of something new but that never would become an everyday thing.

[TheAndy500]

It is not a bubble and whole experts will see it in coming years when bitcoin will grow and still offer the same things like now and even more.

[bul]

Cryptocurrency in general is a fairly new concept, I dont think this is a bubble.... I think this is just the beginning of crypto. I think that BTC and all other good coins will probably increase in value. The mass adoption have only just begun. So I have a hard time believing this is just a bubble. However I'm far from an expert so I really have no clue. But if I am right this is just the beginning of something huge, decentralized currency's that truly belong to those who own them.    

[darkangel11]

I do not understand why all you guys call this bubble? If you cannot figure out the value of the BTC, then how can you call it a bubble?

They are repeating it after some of those old farts from Wall Street who made some decent deals before the first white paper was published.

There are much bigger and dangerous bubbles currently bro, are you aware of that? just check USA or Japan debt, those are like close to 200 Trillions and growing every second we talk!!! Bitcoin in comparison it's a still a tiny cute small baby, keep that in mind, to the moon!

Exactly. Some people seem to think they will buy cryptos, wait for profit, exit to fiat and it will all be fine at that point. No, it won't. You are exchanging independent, but scarcely accepted currency for another one that is still vulnerable, centralized, but widely accepted. You're exchanging one token into another, fiat is by no means better or safer. The main difference is that with crypto you are on your own. Nobody is making promises to you or holding your hand, giving you a false sense of security.

[sjefdeklerk]

Ask yourself: how many bitcoin payments are being done daily ? Where can I pay with bitcoin ? Just today in my country (netherlands) a big bitcoin test has been stopped. In the city of Arnhem more than 100 shops had joined to accept bitcoin payments  but only a few thousand EUR in BTC *per month* was paid by clients (nobody uses it). Besides that the transaction costs had become so extremely steep that they had to stop the test and the shops are now no longer offering BTC payments: https://nos.nl/artikel/2210648-arnhem-even-geen-bitcoinstad-meer-transacties-zijn-te-duur.html That's how well BTC works.

"But but Lightning network will save us", yeah right a system that only processes a route when users are online, where maximum payment in a route is determined by the smallest account in the route, where you still need to pay very high fees to open/close a payment channel and when you want to re-wire BTC into the channel, where fraud among 2 users in the same channel is possible and which will take 12-18 months anyway to complete, yeah that sounds like a great system, LOL.

And I'm not even talking about the insane amount of energy that's needed to keep the network up and that more and more countries are now actively fighting and banishing BTC.

So of course this is a $294 billion bubble which is going to pop. The million dollar question is not IF, but WHEN. For all I know it's going to hit $50.000 first or even more. But if you can't even see that this IS a bubble, I'd advise you to do something else with your money, because you'll lose it all one day.

fiat is by no means better or safer.

LOL this is just crazy. If you have USD you're pretty sure you can buy an apple for roughly the same amount of USD next year as this year. You also know you can pay for that apple at any grocery (even international with your chip card). With BTC you just don't know, could be you could buy 1 apple, maybe 10 or maybe no apple at all and 99.9% of the grocery stores won't even accept BTC payment anyway.

[timerland]

Hey Guys, I just came across the following tweet regarding Bitcoin. https://twitter.com/Elite_89/status/944746253929336832 I am not good at reading charts. If anyone is good at reading charts, can you please help me out.
Bitcoin Bubble

First off, the twitter link does not work. However, you should really think about this yourself.

Yes, bitcoin may be in a bubble. Who knows? However, if you have a look at the idea behind bitcoin and its core values, it will seem obvious that even if it does crash, its not going to be the end of bitcoin forever. It will take time and a lot of effort to destroy bitcoin.

However, the lightning network needs to be implemented asap because what is happening right now is horrendous.

[filharvey]

Most of the bitcoin criticizers have continued saying that bitcoin is a bubble and it would burst.But its not a bubble.A bubble is a stock or an asset which has been overvalued much that what value it actually has.But bitcoin is not overvalued.Also,it is not just a piece of investment.It is mainly backed by the demand which it has since it is mostly used for trading purposes and also after lightning network gets activated,it would also be used more as a currency.We could now see bitcoin price once again rising.

[ajdaj]

Most of the bitcoin criticizers have continued saying that bitcoin is a bubble and it would burst.But its not a bubble.A bubble is a stock or an asset which has been overvalued much that what value it actually has.But bitcoin is not overvalued.Also,it is not just a piece of investment.It is mainly backed by the demand which it has since it is mostly used for trading purposes and also after lightning network gets activated,it would also be used more as a currency.We could now see bitcoin price once again rising.

I think that Bitcoin can not be overestimated for a crypto currency user, But in fact, its price is really sky-high. The fact is that any project that has its own coin, fixes for it or a product or service, but at the same time Bitcoin has nothing at all. Even the etherium has its value more than Bitcoin. But it's really quite different.

[oegarod]

This doesn't mean to be a bubble, because with bitcoin price grows unexpectedly. This quite often gets termed to be a bubble by the users who doesn't have a bigger and better knowledge about bitcoin as well other digital currencies. In my view bitcoin is a growing asset which is to make a change in the world.