Crypto is more like “a psychological experiment than a serious investment"

[Nahl]

some of people might be called bitcoin as psychological experiment because our mentally is tested here that volatility of the price always being the common thing in crypto world because we even never know when the price starting to fall and when the price starting to rise up and for those who don't have good mentally they will never last long to investing at bitcoin

[darewaller]

Yes investing in crypto market involves a psychological aspect also. But it’s wrong to address crypto only as a psychological experiment. It’s much more than that. I think crypto is definitely a serious investment because it needs a lot of experience and exposure to the market to trade profitably. Only experimenting with it will not yield favorable results. On the hand how much profit a trader can earn depends on the psychology of the investor like how he responds to the losses, etc.

Sometimes, I always wonder if these so called professors decided to limit their level of knowledge for a reason or they have just decided to leave their brains in the library most of the time when they are about to utter stuffs like this. Sure, what we had last year was a bubble but that does not make bitcoin in itself a bubble.

It has real life value and that should be based on real demand, not just because some people are looking for ways to get rich overnight. If we are referring to psychology here, human's greed should be what he should go pay attention to rather than uttering nonsense.

[berrygood]

I think it is seen as bubble because it is not used as currency, it is hodl rather than spend coin so the price rises in the long term.

[AbyssLagiaz]

Psychological Experiment? Like how we behave as its price move within the property of being unstable, we are like being monitored or observed by ourselves on how we react on the growth of our investment. There are good green gains where we could act more in greedy way or act more of a wise and careful trader. This is why there are panics happening in here. It is simply their behavior on crashes, while being pessimistic at the same time. I'm pretty sure this is both experiment and a serious investment.

[justspare]

Indeed, I feel that as long as it is a transactional investment, it is a psychological experiment, because all investment operations in the trading category are personal psychological battles.

We can relate it to the decision making thing. Either it is trading or investing, people have to involve the emotional balance for better results. But majority of the traders and investors don’t have that grip to control their mind. For that reason, their decision making power become paralyzed and the results are totally damaging. This is a tremendous psychological experiment.

[pawanjain]

Yes, I agree with your wording that crypto is related to a psychological aspect also, but it will not be right to say that it is related to psychological aspects alone because crypto market is really big and people come here when they are in amateur level and then they practice enough to make some profit and by this way they slowly moves towards the experts level in the market and so here even the manipulation is also playing a major role which indicates us that crypto is really a serious investment if you take it seriously. Here the people have already earned millions of profits from the crypto market and still the counting is going on. And the earning part depends on the investor's psychology, capability, and on his trading skills like he manage the trades.

[amishmanish]

--snip--
hopefully before everyone gets bored and goes away there are gonna be some very compelling real use cases that attracts a large amount of people who have a genuine purpose for it. if not then things could get a little rocky.

There there.. Why such gloom?? He is Professor Shiller. He is just preparing the background to start shilling bitcoin..LOL..

And yeah, we do need people to find real use but I don't think enough people are going to get bored. Interest in money or promise of riches doesn't get subdued so easily. Even if the majority loses interest, there'll still be a core group of people who will find the idea of p2p transactions worth exploring. And then there is the technology itself. A lot of Computer majors are going to show continued interest in this for a pretty long while.

[el kaka22]

He's probably trying to say that Bitcoin is only a figment of one's imagination, making it psychological. I don't see where he gets it from and what makes him think that Bitcoin has no application in computer science, but it's obvious that he lacks knowledge about bitcoin. Many even suggest that it's the other way around and that bitcoin has nothing to do with economics but is more technological because it involves coding. Before making such statements, he should do his homework first.

If he considers bitcoin as a figment of imagination, then fiat in cash is also a figment of imagination. The problem with this set of people is they look on the outside and judge based on that.

The fact that they cannot see the real value from the little and unnecessary hype in price that happened last year has made them to now think everything that goes up hugely and come back down hugely is a bubble. The value was hyped and that might be considered a bubble, and the aftermath is what we are experiencing, but calling bitcoin itself a psychological experiment with no real value is just dumb.

I am making transactions to my merchants globally within split of second without a third party, which is a value even the fiat system could not give. Maybe he should ask those in Zimbabwe and Venezuela how they perceive bitcoin.

[pleght]

I strongly agree with this.Thanks to bitcoin I made a lot of power in psychology.I used to be very excited.I could forgive this excitement.I've been earning since I could.

[gantez]

I think it is seen as bubble because it is not used as currency, it is hodl rather than spend coin so the price rises in the long term.

In my own reason, I think it is called a bubble because they feel it does not occupy a reality for them and won't stand for long. It is not because it is held and even if it is held in the wallet, it is eventually converted to fiat and it is money.

Meanwhile, I'm not surprised if economist refer to it that way though.

[laracastvue]

Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, expressed his idea about cryptocurrency.

"I'm interested in bitcoin as a sort of bubble. It doesn't mean that it will disappear, that it'll burst forever. It may be with us for a while," said Shiller.

"To me, it's interesting as another example of faddish human behavior. It's glamorous," he added. The bitcoin craze reminds him of tulip mania in the 17th century, the event which is considered one of the first recorded speculative bubbles where a buying frenzy and lofty expectations replace rational justifications for an item's value.

The price of bitcoin grew so fast. The cryptocurrency hurtled above $1,000 in early 2017 after trading at less than a $1 at the beginning of the decade. It even hit an all-time high north of $20,000 in mid-December. (recommend FuninUSA for updated data about cryptocurrency)

A lot of people have benefited from the cryptocurrency investment. But Shiller would still like to see it as a psychology experiment. “It is more psychological than something that could be explained by the computer science department,” He said.

Bitcoin held above $8,000 on Friday morning after topping that level a day earlier. The two-day rally comes after a weak start to April likely tied to tax-related selling. Prices dipped below $7,000 earlier this month.

Will the bitcoin disappear? What's the true value of bitcoin? What essence in bitcoin are we paying for?

Its normal because there are different occurence on the entire nation and it can affect the market positively or negatively just like how the governments is reacting to cryptocurrency today.

[Sahyadri]

Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, expressed his idea about cryptocurrency.

"I'm interested in bitcoin as a sort of bubble. It doesn't mean that it will disappear, that it'll burst forever. It may be with us for a while," said Shiller.

"To me, it's interesting as another example of faddish human behavior. It's glamorous," he added. The bitcoin craze reminds him of tulip mania in the 17th century, the event which is considered one of the first recorded speculative bubbles where a buying frenzy and lofty expectations replace rational justifications for an item's value.

The price of bitcoin grew so fast. The cryptocurrency hurtled above $1,000 in early 2017 after trading at less than a $1 at the beginning of the decade. It even hit an all-time high north of $20,000 in mid-December. (recommend FuninUSA for updated data about cryptocurrency)

A lot of people have benefited from the cryptocurrency investment. But Shiller would still like to see it as a psychology experiment. “It is more psychological than something that could be explained by the computer science department,” He said.

Bitcoin held above $8,000 on Friday morning after topping that level a day earlier. The two-day rally comes after a weak start to April likely tied to tax-related selling. Prices dipped below $7,000 earlier this month.

Will the bitcoin disappear? What's the true value of bitcoin? What essence in bitcoin are we paying for?

These are very wise words said by professor and are in line with my definition of bitcoin. Yes, people are making lot of money from it and it is indeed a psychology experiment. But coming back to conventional trading, people often do pump and dump over there too in form of inside trading. There have been so many frauds linked to insider trading that government had to run a crackdown on those. We all should give more time to this market to become more stable and then we can re evaluate whether it is still a psychology experiment or not.

[mrtryonebiggums]

Oh no another professor claiming Bitcoin is a bubble and comparing it to Tulips! What will I ever do with myself now?!

[drachman]

But what did you expect? Of course a professor of economy is going to say that, if bitcoin takes over as the dominant currency around the world there will be a lot less jobs for economists, the economy will be easier to regulate since the emission of bitcoin is known in advance thanks to the algorithm that satoshi created that adjust the difficulty of bitcoin every two weeks so we will not need economist anymore.

[Indrawan77]

Yes a lot of people always compare bitcoin with the tulip mania, maybe the professor make the statement because btc still in early stage and many question still left unanswered, so he consider it as psychological experiment, but for most of us bitcoin already through a various phase and it can be consider as stable investment, most of us that already understand bitcoin completely always think as serious investment for the future

[DiamonDogs]

I've seen news like this quite a lot. The number of skeptical people on Bitcoin also increased.
Since 2009 I'm sure there are many experts who predict Bitcoin will experience a bubble. But in fact, until now Bitcoin still exist.
The coins or tokens might be gone or experiencing a bubble. But I think not for Blockchain technology.

[nur rochid]

I strongly agree with this.Thanks to bitcoin I made a lot of power in psychology.I used to be very excited.I could forgive this excitement.I've been earning since I could.

indeed bitcoin shape our psychology to be orderly. with bitcoin we must be able to control the psychology to face a fluctuating market, and if we can control it then financial freedom is in front of the eye

[wuvdoll]

Do you know why most of the time educated man is physically and mentally absence in reality? Because they have a world of its own. This is why most of the time they’re outdated and technologically ignorance. They’re mostly using book rather than ebooks or computers. Not all, but most of them.

If this man is my professor I would rather home study than hearing lectures that is in old fashion.

I hate those who give an expert opinion on things they don’t know or close minded because of self interest. Most probably he invested in stock market and find bitcoin as a threat.

Probably their expertise has so made them blind from reality like you said and they feel people will always listen to their opinion no matter how stupid it sounds. It is highly unfortunate that people like this call themselves professors and in the real sense, they do not even know how to do some research before even coming to back up whatever they are saying. They are archaic and outdated that they find it hard to believe this is an evolution and there is a great value it serves. However, they cannot see that since they are so rotten with the traditional system.

[valeviarizona]

this is exactly as I think, I am still looking for what we buy from that cryto what ..

I have not seen a real use like a good.

does anyone can explain ??

[celcoid]

I do not agree if bitcoin investment is considered as a psychological experiment. Investment of any form/kind requires a psychological analysis because with such analysis a trader or investor can make speculation about the price to come. We will not know the price will move in any direction without us knowing the most emotional person when looking at the current price conditions.