Wilson Grant Fisk
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- Nov 10, 2012
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Is Bitcoin the Most Obvious Bubble Ever?
- Thread starter Wilson Grant Fisk
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- bitcoin bitcoin bubble btc
iterate777
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- Oct 7, 2017
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At thanksgiving my granpa and uncle was talking about bitcoin. Neither of them know nothin about using the internet. Doubt either could buy something off amazon or ebay, let alone use crypto.
They say similar things like that happened during the 2000's housing bubble... where your trucker cousin would be thinking about diversifying into a second home. That's a good enough sign for me lol.
They say similar things like that happened during the 2000's housing bubble... where your trucker cousin would be thinking about diversifying into a second home. That's a good enough sign for me lol.
D
Deleted member 969102
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So why isn't gold a bubble then?
You're implying that gold is grossly overvalued - why? The price of gold is, and has been, fairly stable, only increasing in price ~7.5% in the last 12 months. Compare that to BTC's meteoric rise over the last 12 months. That, correlated with the massive increase in coverage and media attention BTC is receiving, and major FOMO encouraging everyone and their mother to invest something into BTC, would suggest that it could be in a hype bubble.
shanna_doll
Senior Member
- Apr 10, 2012
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Bitcoin seemed revolutionary to me at the beginning, as I felt like it could be a nice alternative to Paypal.
Now I feel people just invest into it blindly by thinking they will become millionaires in a few years.
Bitcoin is just a giant bubble since its community is talking about becoming rich, not about how to improve it to make it a worldwide currency, something useful and meaningful.
I think I will pass.
Now I feel people just invest into it blindly by thinking they will become millionaires in a few years.
Bitcoin is just a giant bubble since its community is talking about becoming rich, not about how to improve it to make it a worldwide currency, something useful and meaningful.
I think I will pass.
D
Deleted member 969102
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You don't seem to understand what a bubble is.
The idea is that an asset is valued more than its intrinsic value (What it's actually worth)
The only thing that makes gold worth anything is because people say it is. Really, it's actually inferior to Silver.
Some people say gold is valuable because it makes jewellery, computer components etc. but in reality, those items are expensive because they contain gold.
The only reason it ever became a currency was because it doesn't corrode that much. Exactly like Bitcoin, in a sense.
"Here is the flaw with Jamie Dimon's "Tulip Mania" analogy: Tulips are perishable and must be repurchased, over and over, to maintain a presence. Obviously, inflated prices cannot be sustained. Bitcoin is not perishable, and needs to purchased only once. There can be no comparison"
"Gold is laughable compared to cryptocurrencies. How do you frationalize gold? How do you ship it? It's physical so how do you safely store it. It was good for people 3,000 years ago. Today it is inherently worthless. Soon it will drop in value as crypto currencies climb."
GordonGladwyn
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- Oct 25, 2017
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i think it is a bubble, but what makes it different is the potential of other cryptocurrencies that solve or fix what bitcoin lacks
iterate777
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Speculation is fine my friend, just don't go "investing" your next month's rent, etc.
1Enigma
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- Jun 24, 2016
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You enjoy poking people.
D
Deleted member 969102
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Speculation? Please show me where I speculated.
My point is, every "reason" people have for likening Bitcoin to a bubble, also applies to a wide range of successful companies/ assets.
Amazon has a massive market cap of $563.27B, but a P/E of 295.05. Their price graph is almost an (albeit slower) exact match to that of Bitcoin's.
Why isn't Amazon's stock in a bubble?
My point is, if you take your reasoning for disliking Bitcoin and look at other financial opportunities, almost all of them will show signs of a bubble.
iterate777
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Speculation? Please show me where I speculated.
My point is, every "reason" people have for likening Bitcoin to a bubble, also applies to a wide range of successful companies/ assets.
Amazon has a massive market cap of $563.27B, but a http://stocks.fundamentalfinance.com/s_peratios.php of 295.05. Their price graph is almost an (albeit slower) exact match to that of Bitcoin's.
Why isn't Amazon's stock in a bubble?
My point is, if you take your reasoning for disliking Bitcoin and look at other financial opportunities, almost all of them will show signs of a bubble.
That's true man. I see where you're coming from.
I agree that Amazon is overvalued, but the way they have the ecommerce world over a barrel and are constantly getting larger is a decent reason for some to speculate in their stock.
Honestly, I see anything that I'm not in charge of as a speculation, unless I have some sort of collateral that comes back to me if everything goes to hell. ( I been burned by enough hive minds, so I don't bet what I can't lose. There's always the chance a "call-station"(poker term) can pull off a royal flush against me. )
whiteogreguy
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- Apr 27, 2017
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iterate777
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Yeah, a smart gambler can turn a profit in poker where the name of the game is walking away with the chips based on aggressive but disciplined action.
I think the smartest move is for people to gradually sell off most of their holdings to setup enough for investments in controllable projects that can kick off recurring income.
Then, they should hold on to a bit of bitcoin( x < 50%) to hedge for if it does reach some crazy number. But they will still walk away with something much more than they put in even if it craters. I'm not going to say what I'm doing, but that would be the savvy method of speculating.
EDIT: tried to double quote.
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Fragmaster
Senior Member
- Apr 3, 2016
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Guys. I'm hardcore crypto "investor" . I will first admit that prices can be loosely detached from applicative value.
Am I skilled? No.
Do I make money? Yes.
Did I cash out real money from it? YES.
Is it hard to hold BTC when everybody tells you bubble? Yes
Can lighting network fix things? Yes
Do I see BTC staying no1 crypto forever? NO
What change do we need? Scalability. Non-linear data structure + cryptography
There you go folks - we aren't all crazy maniacs dreaming of riches!
Am I skilled? No.
Do I make money? Yes.
Did I cash out real money from it? YES.
Is it hard to hold BTC when everybody tells you bubble? Yes
Can lighting network fix things? Yes
Do I see BTC staying no1 crypto forever? NO
What change do we need? Scalability. Non-linear data structure + cryptography
There you go folks - we aren't all crazy maniacs dreaming of riches!
artificial_genius
Senior Member
- Sep 27, 2011
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Because people feel confident that Amazon is going to grow in revenue. The reason why their P/E numbers are so high is because they are constantly reinvesting profit back into their company.
SepticFish
Power Member
- Aug 1, 2015
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BTC "may" be a bubble, but the technology behind it is definitely valuable. I only agree that it is a bubble because the coin itself is literally useless.
Fragmaster
Senior Member
- Apr 3, 2016
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Monero price outperforms bitcoin in last 18 months. I did balance out into XMR, and I'm confident in great risk/reward choice i've made.
XMR is at least supported with real economy. Shady one indeed, but real.
XMR is at least supported with real economy. Shady one indeed, but real.
1Enigma
Senior Member
- Jun 24, 2016
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Me too.I may talk shit about it, but it’s not going anywhere any time soon like Vegas tokens the value may deflate. But, people are never going to stop using it for shady activities.