Are cryptocurrencies a bubble?

Lereldi

Newbie
Joined
Jan 23, 2018
Messages
14
Reaction score
0
Hello BHW community,
first of all thanks for being the best SEO community.
I want to give something back for all the useful information provided by countless people.

I wrote and academical paper about the topic cryptocurrencies for school ( if anyone is interested in the full ~ 20-page pdf, just ask) so I would consider myself aware of most of the advantages and disadvantages.

I am not going to explain how they work, as this took about ten pages to explain this on a surface level.
To sum up my opinion about PoW and it's trademark, Bitcoin: I don't think that PoW is sustainable in the future. PoC and PoS are much better in my opinion even though they obviously have their flaws as well.
The sole reason Bitcoin is so expensive is the hype and media that led people to invest in Bitcoin without doing any research. The fees of competitors are lower, the transaction speed is higher, or the network is entirely anonymous. With all that said, I don't want to deny the big impact that Satoshi Nakamoto's Bitcoin whitepaper had for or current financial system. Having a decentralized system that doesn't rely on a single trusted third party (aka. banks) is just a great idea.

Other problems are being addressed. For example, Ethereum is most likely gonna hard fork the coin with the so-called Casper protocol and change from PoW to PoS.

And most of the coins are still in their infancy. You can't expect to have a perfectly working new banking structure in 10 years.

Some coins to look out for:
-Privacy coins, they will always be interesting for illegal activities, so they will most likely maintain their value. The 'best' privacy coin is Monero; their ring system does what tumbling services offer for Bitocin.

Sustainable coins: There are countless ones out there I haven't decided which developer team and concept I like the most. I just have done too little research to give a sound recommendation.

And last but certainly not least:
IOTA, I could write pages and pages about what I like about this project. I'm gonna keep it short:
THE IDEA IS FUCKING AWESOME, the Tangle is supposedly quantum-proof already, even though quantum computers aren't a thing yet.

That's it. I hope you enjoyed this short read. I am open to discussions, and I hope to stimulate a discussion with this post.
 

Sherb

Ban reason = Abuse of Mods
Joined
Dec 26, 2010
Messages
1,998
Reaction score
18,146
Where's that one asshole who's always saying this?
 

billionaire2050

Junior Member
Joined
Jul 11, 2018
Messages
150
Reaction score
65
It was a bubble, and it already burst, but it's not going anywhere. It's here to stay like any other crashed markets in the past.
 

Buzzika

Supreme Member
Joined
Jul 8, 2009
Messages
1,432
Reaction score
1,770
If you're trying to use it as a vehicle for investment, a commodity... YES!

/thread
 

Lereldi

Newbie
Joined
Jan 23, 2018
Messages
14
Reaction score
0
But bitcoin is the face of crypto. Any investor who comes to crypto starts with bitcoins only.
Yeah but why? If all people tell you to jump off a skyscraper would you do it? Don't those people care about their money?

Not a bubble but you can say BS and Scams.
Definitely most ICOs are scams, BitConnect was one example of this.

It was a bubble, and it already burst, but it's not going anywhere. It's here to stay like any other crashed markets in the past.
When id burst in your opinion? And why is it not going anywhere?
 

billionaire2050

Junior Member
Joined
Jul 11, 2018
Messages
150
Reaction score
65
When id burst in your opinion? And why is it not going anywhere?
Living under a rock? If the value of something falls from from $20k to $11k to $6k(present), I'd call it a burst lol. And it has a lot of market cap to be just forgotten and discarded. Plus this is just the start as not much has been changed due to crypto currency in local systems, and we know that a lot of change is still possible.
So in the end, it'd settle around some value and it'd decrease very much in volatility.
 

Lereldi

Newbie
Joined
Jan 23, 2018
Messages
14
Reaction score
0
Living under a rock? If the value of something falls from from $20k to $11k to $6k(present), I'd call it a burst lol. And it has a lot of market cap to be just forgotten and discarded. Plus this is just the start as not much has been changed due to crypto currency in local systems, and we know that a lot of change is still possible.
So in the end, it'd settle around some value and it'd decrease very much in volatility.
I meant all cryptocurrencies, obviously I experiecned the insane price difference. For me this is just volatility and not a burst. Basically just media and starts who do market manipulation.
 

billionaire2050

Junior Member
Joined
Jul 11, 2018
Messages
150
Reaction score
65
I meant all cryptocurrencies, obviously I experiecned the insane price difference. For me this is just volatility and not a burst. Basically just media and starts who do market manipulation.
If this much manipulation was possible, I'd leave this planet.
 

Lereldi

Newbie
Joined
Jan 23, 2018
Messages
14
Reaction score
0
If this much manipulation was possible, I'd leave this planet.
Well for that you have to define what exactly manipulation is. For me manipulation also is that some big news company or tv show talks about Bitcoin. So definitely media manipulaiton.
 

billionaire2050

Junior Member
Joined
Jul 11, 2018
Messages
150
Reaction score
65
Well for that you have to define what exactly manipulation is. For me manipulation also is that some big news company or tv show talks about Bitcoin. So definitely media manipulaiton.
Media cannot drop the price from 20k to 6K bro. Maybe till 16k and then back up. But not just drop it forever.
 

ThopHayt

Elite Member
Joined
Jul 25, 2011
Messages
7,015
Reaction score
2,860
A bubble is an asset at a price that strongly exceeds the asset's intrinsic value. So literally by that definition all crypto is a bubble since it has (essentially) zero natural value. Odds seem set.

-ThopHayt
 

janina_herz3

Newbie
Joined
Apr 8, 2018
Messages
30
Reaction score
4
You can say that. Trading in a sideways zone now. People will surely think twice before putting their money.
 
Top