Is Bitcoin the Biggest Bubble in Human History?

[Thanasis]

People keep saying this bubble story for too long, If you think it is an bubble don't invest on it.

But bitcoin has actually the value as currency and it is new technology the expensiveness of bitcoin is due to its low availability of 21 million coins.But last year the price bumped too fast due to lot of new investors but now the  price is getting stable and increasing slowly according to the market demand.

[rajkr]

I don't know why people consider it as a bubble.It will be the best investion after internet of this century.So it is purely asset.only thing which compel people to consider it as bubble is sudden hike in its value.

[seoincorporation]

Every money system is based on the trust of few. Historically, money was founded in a system of debts, where a third-part just has to sign out a paper, a promissory note, where it was specificated the amount of the debt (in work, silver, gold, cows, chickens, whatever) and this paper  has, itself, the value of the debt. Now, debts could be bought by any person interested in having the debt to him/herself, so they speculated about the value of the debt (for instance, 3 cows).
Now, the paper (promissory note) itself has no value at all, it was just a "trust system" based on debts.
This is how banks and such kind of institutions were formed. For they absorbed the debts, they bought them and the debt was with them. So printed paper is something like a book of accounts, and no more.
Bitcoin is the same but without the third-part. It is an agreement where thousands (maybe millions) are implied, and the "book of debts" is public for everybody to take a look. So there is not a chance to just printing more, fake ones, in order to say to the world "Look all the money I have" (money made by air).
As an economic system, Bitcoin is much more trustful than paper-money, for it cannot be printed aleatory.
As money, it works the same as the printed-one: it is not the paper who owns the value, but the transaction itself.

[Domenc]

I think If you see the high point of Bitcoin and consider the current value you might wonder is it acting like a bubble ? When Bitcoin touched $6,600 people lose their mind and declared it as bubble burst. But I think its just the volatile nature and decentralized working of bitcoin, no one ever guaranteed higher returns even Satoshi also made it for transaction purposes rather than investment scheme. Further, once people realize its potential it will definitely touch new heights again.

[luigidosado]

The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.

Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.

I think bitcoin has already proven itself through the years. Talking about bitcoin becoming a bubble after sometime has already been a topic for a very long time but up until now it has not even happened. No one actually knows if this will really happen or not. I think, for me, it is impossible for bitcoin to become a bubble that will pop out after a certain point in time. What I think is most probable to happen is when it lose its value til it reaches zero because another coin better than it is created. The people who uses bitcoin are the ones who gives value to bitcoin, not the bitcoin itself.

[nguyenkhanhhung14]

One more time I would say that Bitcoin is a cryptocurrency, it's not a bubble . If anyone say that Bitcoin is nothing but bubble, he's a liar . Let see how many guys said that Bitcoin is just a bubble and see what happened? Bitcoin price still increase very quickly although these guys still say that it's just a bubble . Do you still remember the announcement of JPMorgan Chase CEO? He also said that Bitcoin is just a bubble then when the price dump their company spent millions dollar to buy Bitcoin back. LOL

[tekusa]

I think If you see the high point of Bitcoin and consider the current value you might wonder is it acting like a bubble ? When Bitcoin touched $6,600 people lose their mind and declared it as bubble burst. But I think its just the volatile nature and decentralized working of bitcoin, no one ever guaranteed higher returns even Satoshi also made it for transaction purposes rather than investment scheme. Further, once people realize its potential it will definitely touch new heights again.

It is yet a big mystery whether bitcoin investment is a scam or not.The investment critics hold a variety of opinion and they do not fully confirm the process of bitcoin investment. However, the process is highly secure as it works under the protected Blockchain network that activates from various servers. You will find that the processes involved in the cryptocurrency exchanges include a number of gateways. When you pay or purchase bitcoins, it has to pass through a number of gateways for proper verification. If the gateways find the transaction that we are carrying is safe and not a fraud, then it allows the other party to purchase and transfer the bitcoins to another bitcoin wallet.

[rockie87]

The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.

Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.

Indeed it could be,if you think it is a bubble.See i think bitcoin is the only currency which has the most trustworthy investors.You can even say soo that bitcoin is the bubble for whole cryptocurrency.If it bursts the whole crypto burst with it.So the equations are as simple as that if it is bubble than it is a threat to whole crypto.

[jamesashmore1964]

Maybe but it still has steam!
Could burst if the market  goes to 7K and then goes into free fall: Possible

[cocktail111]

With Bitcoin's current price decline, we all know that now is the right time to buy Bitcoin. This price drop can be a frightening specter for some people, but for people who are not afraid of risk and have known Bitcoin for a long time, they will see this as an opportunity to get as much profit as possible. Do not wait to buy and collect Bitcoin as much as possible, because we do not know what will happen in the future in the near future or in the long term. It's possible that Bitcoin's price will decrease to lower, and Bitcoin's price will probably increase soon. So you should make the most of this opportunity.

[Radio-Active]

The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.

Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.

No, it is indeed like bubble, but it is not a bubble, trust me. The bubble won't be lasting much unlike bitcoin.
until now bitcoin is still exist, so bitcoin is not a bubble for me. There are many holders and believers of bitcoin in this community as well.

[cocktail111]

of course, we all see that all markets are red and there are some fears of getting down more and more in the following days. but on the other hand, no one can ignore that bitcoin is the leader of all the crypto market, so if it down the whole market will go down as well, so it is too hard to believe that it will die that easy
and the major investors of it will not allow this to happen.
what do you think, am I right?

[jamesashmore1964]

Many people say it is: Maybe

[evfrosini]

No, it is not at bubble. I like it as a payment medium because of a number of reasons. It is a boon for sellers as there are no charge backs.

[hibiscus]

        Bitcoin the biggest bubble in human history these  words were said by an American economist. .The supply of Bitcoin is limited to 21 million of Bitcoins to mine already 17% has been mined till now . Bitcoin is compared to  a bubble that is going to burst because the government is taking much interest in spying the public more than the imagination in- order to find faults in the public .Bitcoin is a good investment and a public conversation till there are buyers

[Dark_raven007]

Maybe he is a bubble, but we live here and now. This is the story that is being written today and we see it and participate in it. Even if something goes wrong, something new will be created on the basis of this, it is possible to drill up if it is not perfect.

[removebeforeflight]

Who says it is Bubble, those who don't know anything about Bitcoin concept or its technology woul say or call the price rise as Bubble. To be honest I strongly say that the price high is called the profit or bullish market and don't call as Bubble since that word is irrelevant for Bitcoin or any crypto currency market as you are aware that they are always volatile in nature.

[meanwords]

Well, you are blind from the fact that the actual usage of Bitcoin creates its demand which the miners supply. First, it's easy to use Bitcoin to transact money and it's not regulated, meaning, tax free (at least in some countries). Also, you are looking at the wrong side of Bitcoin, you see it as a useless piece of internet numbers which is actually far from facts. Bitcoin is the first coin in the Blockchain. If you look at Blockchain's technology, you can see how innovative it is. It is being studied around the world by experts to fully understand its concept. That technology alone is worth thousands or even millions of dollars which Bitcoin being the use had inherited its value. Just wait for a few years and you'll see the full potential of the Blockchain.

[Cutieh01]

Well, you are blind from the fact that the actual usage of Bitcoin creates its demand which the miners supply. First, it's easy to use Bitcoin to transact money and it's not regulated, meaning, tax free (at least in some countries). Also, you are looking at the wrong side of Bitcoin, you see it as a useless piece of internet numbers which is actually far from facts. Bitcoin is the first coin in the Blockchain. If you look at Blockchain's technology, you can see how innovative it is. It is being studied around the world by experts to fully understand its concept. That technology alone is wort thousands or even millions of dollars which Bitcoin being the use had inherited its value. Just wait for a few years and you'll see the full potential of the Blockchain.

Agreed, if they think that Bitcoin is the biggest bubble in human technology then they are wrong  since Bitcoin is consider as gold so it means that it is precious and valuable. Bitcoin will not come this far of existence when it is worthless and it's been vanished, but bitcoins leads among all crypto and known as a store of value.

[genlocy]

I don't think so but many people say it bubble,i think it is for me a great opportunity to earn money,that's all.