is bitcoin overhyped

[cryptosluck]

its nt bitcoin over hyped it bitcoin value is millions of dollars so it is long way to go

[1713545340]

1713545340

[kefir56]

It won't have such a value if it wouldn't be overhyped, it dealed it a great success, so now the attention has got the cryptocurrency itself, and BTC goes down

[faaty]

I see that this topic is created in the beginning of december and it was really overhyped at that time. So great analysis. It was obvious that we would see this bear market after that huge hype. Markets and generally goes between overvalue and undervalue. Now it is undervalue time and we will see another hype soon.

[Crytptohack]

IMO, I do not think BTC is 'over subscribed'. There are a lot of people in this world that have not even heard of digital currencies yet and this market and BTC will only continue to grow going forward.

There is ~7 billion people in the world and a percentage of those people (adults) have $ in their own currencies that continue to be debased. They can allow inflation to eat away at their currency or they can purchase a hard asset like real estate, gold, silver, etc...  Or maybe even BTC which there will 'only' be 21 million.  Think about that, 7 billion people and 21 million bitcoin...  That is why people say that it can go over $100,000 a coin.   If fiat continues to be traded in for BTC, it will be pushed higher each year.

As far as the 'alt' coins/tokens, there are so many s**t ones out there that they will eventually disappear when the major purge/crash happens. I think it will be similar to the dot com bust in 1999/2000 where anything with a .com went up in price. After the crash, most of them went bankrupt.....0.  The same thing will happen to the s**t coins, 90%+ will disappear.

[Aderiho Bitjones]

Relatively recently bitcoin became mega popular among the whole world. Many thoughtlessly began to invest. Then the price jumped, now the price has fallen a little all began to worry. Because they do not know the basics of crypto currency.

[solopay669]

everything can be, perhaps everyone is talking about a bubble, because everyone is scared of the large volumes of bitcoin, I think it's a myth that bitcoin is a bubble, and everything is stabilizing.

[igorkupcov3009]

Bitcoin  is a peer-to-peer electronic payment system using the same units for accounting. Bitcoin's own website is characterized as a "digital currency". In official reports of the World Bank, the ECB and the FBI - "virtual currency."

[alisaserdceva]

The ministry claimed that Mt. Gox adversely affects the US. Soon American companies Bitcoin reported that banks ignored them, simply because they did not want to risk it.

[monkeydominicorobin]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

Bitcoin is not a stock. Remember that. Since it is not a stock it will not burst like a bubble. It is a technology that will dominate for a thousand years. It changed the way people store important information through blockchain technology.

[online73]

bitkoyn overstated, - my opinion, absolutely not correct statement of the current price for Bitcoin. No one will say today the best price for Bitcoin. To date, the price determines the ratio of supply and demand. About bitcoin can be said - is a digital asset, a new formation and its price from 1 to 20 000 $, Bitcoin does not apply assessment principles as to the dollar or any other asset. I would not use the definition of "overvalued" or "understated" for any digital asset, - what price is today on the exchange, such a price is real.

[TheGodFather]

I just want to start a discussion on the current bitcoin value.

bitcoin has been existing for quite a long time now. a few months ago nearly no one (in germany for example) knew about bitcoin, it was a minority who did and who did big earning during the course increase since the very first beginnings. while bitcoin hit 2k in may / june of this year the media startet heavily to jump on that train, for example facebook was flooded by bitcoin news. most of them very euphoric. from friends and what i've hear all around a lot of people who don't know anything about cryptocurrency started to invest and they did decent earnings due to the further price increase of bitcoin.

but - will this lead to an bubble? all those people investing and knowing nothing about crypto? don't know how to pay? how to deal with forks - or what forks even are?

will this together with the high transaction costs - and therefore no usability of bitcoin as a daily payment currency lead to an heavy decrease in value?

and will the altcoins decrease as well as they are highly correlated to the bitcoin value? what is your opinion?

No, I don’t think that bitcoin is overhyped I do think that some of the cryptocurrency users have been disappointing in their attitude as it seems that they think that bitcoin would be something that can magically put their financial problems at ease when in truth bitcoin has always been like this and in the first few months or when it was starting out nobody thought that bitcoin would be this way and now they’re all saying that this is something new to bitcoin.

[naughty1]

Yes, it is. But it's good for us, so let's hype it too

It's crazy when you want to exaggerate it. The consequence of this is really great, and you can clearly see it in the present life. It was exaggerated, and soon after, it collapsed ominously, so many people suffered more than 50% of their money.

[cofinder]

It might be kinda hyped, but when the topic of our conversation relates to cryptocurrency the definition of hype changes. BTC's existion depends on its popularyty (the more popular it becomes, the bigger its value). Besides, together with growing in popularity, grows its  possibilities (for example more and more services might be paid in BTC). Therefore it can’t be overhyped, 'coz the more popular it becomes, the bigger its actual value.

[cryptokingpins]

I think bitcoin itself was overhyped at a point but blockchain technology is still in its infancy

[teterinal]

the hype did good to the bitcoin last year. since the demand increased, the priced increased, and now that the hype is declning the price is decreasing

[thinkabout]

I know that the fact that bitcoin is a decentralized currency that makes it so popular has made this high price possible. Also because financial institutions have seen a new product to make a big profit with.

[tobreak007]

For those who do not know about the forks, etc., who is the fault? This will make them lower. because financial institutions have seen a new product to make a big profit with.

[Ahimoth]

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

The question is "is bitcoin overhyped".
NOT is some sort of digital currency a viable thing one day.
It would behoove you all to be grounded in reality.. not fantasy.

"only the beginning" ?

Yup the one day retort.. played here for 8 fucking years.
Why ?
So you can profit *NOW*.

.

Well bitcoin is gaining a popularity so it's not hard to believe why other's are getting crazy over it. I don't think if the term "over hyped" should be used because it is unfair for bitcoin since it's able to deliver the expectation. Bitcoin is surpassing all the expectation so saying that it is just over hyped wouldn't be appropriate. Bitcoin is just too good as a system.

[AliMan]

I would argue that the cost of bitcoin is understated. In our "information time", everything moves and changes very quickly. We must understand that the blurring of borders between countries occurs not only in the information space, but also in the financial field. The bitcoin market is only the beginning .

The question is "is bitcoin overhyped".
NOT is some sort of digital currency a viable thing one day.
It would behoove you all to be grounded in reality.. not fantasy.

"only the beginning" ?

Yup the one day retort.. played here for 8 fucking years.
Why ?
So you can profit *NOW*.

.

Bitcoin is too good as a system and I'm a witness to that so I will fight for what I believe. I don't think if the word "over hyped" is appropriate for bitcoin since it is being able to deliver what is expected from it. If you're talking about the craze of the people with bitcoin to prove yourself that it is just over hyped then I should say that it's a normal response because bitcoin is just so good.