Bitcoin bubble?

[Aneosx]

Does the bitcoin bubble looks similar to the dot com bubble of early 2000s?

 

[alexchia01]

Does the bitcoin bubble looks similar to the dot com bubble of early 2000s?

Yes, this is a bubble.

 

[Aneosx]

Lots of initial coin offering like bitcoin, litecoin all sort of cryptocoins, similar to the boom of dot com companies. All buying bitcoin hoping to make a quick buck without knowing what really is bitcoin/cryptocurrencies driven by greed, fear of missing out. Buying cryptocoins without doing research, what is their infrisic value, like during dotcom crash, all buying without doing due diligence. Anything else i missed out?

 

[paul02]

Bubble or not, play to win.

 

[asiafrenz]

no bubble until it break

 

[CryptoRazz]

Bitcoin may be a bubble but i still think it will rise to at least 100k before it burst. Having said that, i think cryptos are here to stay; just that Bitcoin won't be the one spearheading it. There are lots of other cryptos with more to offer than Bitcoin.

 

[Dyhalt]

Anything that is hard to determine its intrinsic value and went up 10000x in price over from its listing in just 6 years can be considered a bubble.

But bubble can go on for a long time, some lasting for 8~9 years. Personally I think crypto currency is revolutionizing the way money is being considered and traded, and can be considered the way nuclear power is revolutionizing the way energy was generated in 2005.

Back then price of uranium went from $5 per lb to close to $140 per lb, going up 28x before the bubble burst and went back to $20 lb. If using the same level of interest and use bitcoin price of $1000 as base, then it can go as high as $28000 before going down to $4000 if people consider crypto to be as important as energy to human being.

Not saying bitcoin is definitely going to another high, but at current price new investors are taking a big risk even if bitcoin is going to be as important as nuclear power.

Just some share of thought.

 

[cscs3]

Does the bitcoin bubble looks similar to the dot com bubble of early 2000s?

Anything virtual is a bubble. Is a matter of when and who.

 

[mmchaisi]

Anything rising is a bubble, question is whether there is recovery after a correction burst. So far BTC has 100% recovery record. Buy and hold.

Anything virtual is a bubble. Is a matter of when and who.

 

[terryhoho]

Bitcoin supporter says bitcoin worth infinite value.

Bitcoin sceptic says bitcoin worthless.

Realistic, it's a value of anonymous bank transfer. No where more than a fee to transfer

 

[kenpachi82]

Subjected to governmental interference and regulation as countries will never accept an alternative to their own currencies since it will be beyond their control.

Sent from Pluto using GAGT

 

[dexboi]

Once more and more govt regulate / interfere, price will start coming down. That is why the listing of Bitcoin Futures on regulated platform is probably causing Bitcoin to stagnate now.

A similar comparison to Bitcoin is eGold (digital currency back by Gold) in 2000s.

eGold ended after ppl started using it for scams - HYIPs and US govt agencies stepped in to close them down.

 

[cscs3]

Bitcoin supporter says bitcoin worth infinite value.

Bitcoin sceptic says bitcoin worthless.

Realistic, it's a value of anonymous bank transfer. No where more than a fee to transfer

Sure. It can be infinite but can be zero too. In math, after infinite is zero.

 

[livingston]

bitcoin 100% is bubble, you short it can win alot.......but need to find a good timing........

i short bitcoin at 3000 usd, and got burn out
i short again at 7900 usd, and got burn out
i short again at 9900 usd, and got burn out..........
now i scare to short............

short is not easy..........and i found a news state that.....
the people who short IT bubble at 2000, he bankrupt first before he actually can see the IT bubble come to him........

 

[CryptoRazz]

i think rather than looking at cryptos as a way of making money, which was not what it was intended for, we should look at why it was created in the first place..

 

[jermel]

According to Minsky's theory of financial instability there are 5 stages of a credit cycle (Bubble). One can take a read and see if the events that took place matches with his theory.

Compare it to the bubble cycles of events such as the 2002 Dot.com collapse, or the 2009 Housing bubble in the US that lead to the sub-prime crisis.

A crude way of understanding a bubble is when the price far exceeds the underlying/intrinsic value of the asset.

However, the world has yet to be able to identify if bitcoins is a commodity or a currency. Much less identify a method to measure its true value.

Pro bitcoin camp has been saying that price itself, is the market value, based on free market supply and demand (Worth whatever amount people is willing to buy and thus the theory of infinite value). Therefore, it is not a bubble as price does not exceed the value. Somehow similar to how we evaluate our properties.

As Kenpachi82 and dexboi mentioned, there is no way however those governments will sit by idly, letting something with the potential to disrupt the global economy to run amok. They will surely intervene in the attempt to control it.

Next, seeing how the price rises so dramatically, it will be hard to believe that there is no manipulation involved. Once such major player(s), aka the whales, decided to rake in the profit, I can imagine the dive to be as exciting as bungee jumping.

Lastly, as the value is based on the confidence of the owners/investors of bitcoins, we will know how much faith they have when a recession hit.

 

[xeonboy]

As Kenpachi82 and dexboi mentioned, there is no way however those governments will sit by idly, letting something with the potential to disrupt the global economy to run amok. They will surely intervene in the attempt to control it.

Next, seeing how the price rises so dramatically, it will be hard to believe that there is no manipulation involved. Once such major player(s), aka the whales, decided to rake in the profit, I can imagine the dive to be as exciting as bungee jumping.

Lastly, as the value is based on the confidence of the owners/investors of bitcoins, we will know how much faith they have when a recession hit.

THIS.

10char

 

[leungchunghong]

As more and more cryptocurrency invented that can outperform bitcoins (e.g. litecoins (4x faster), IOTA (new tech)), bitcoins will be diluted. Investors will jump around to earn most of it. Many of them don't know what bitcoins is all about and just follow the market blindly.

When you invest, it is not your money (cash). The only time is your money is when you cash out. In bitcoin, where your "cash" flows, nobody knows, is just like giving someone (stranger) holding your cash temporary and hope one day the stranger willing to give you more cash. Bitcoins is slow and require a fee for transaction. There will always be a faster and fee-less way for transaction. Bitcoin is now the highlight worldwide, hackers will be interested to break the system. Nothing is 100% safe in technology.

As bitcoins has maintained at 16000-18000 for past few days, i think the raise is slow, you can't earn much even if you are lucky.

https://www.technologyreview.com/s/...ckchain-has-been-built-to-outperform-bitcoin/

 

[xeonboy]

As more and more cryptocurrency invented that can outperform bitcoins (e.g. litecoins (4x faster), IOTA (new tech)), bitcoins will be diluted. Investors will jump around to earn most of it. Many of them don't know what bitcoins is all about and just follow the market blindly.

When you invest, it is not your money (cash). The only time is your money is when you cash out. In bitcoin, where your "cash" flows, nobody knows, is just like giving someone (stranger) holding your cash temporary and hope one day the stranger willing to give you more cash. Bitcoins is slow and require a fee for transaction. There will always be a faster and fee-less way for transaction. Bitcoin is now the highlight worldwide, hackers will be interested to break the system. Nothing is 100% safe in technology.

As bitcoins has maintained at 16000-18000 for past few days, i think the raise is slow, you can't earn much even if you are lucky.

https://www.technologyreview.com/s/...ckchain-has-been-built-to-outperform-bitcoin/

As there's already more than 1000 crypto currency and more new ones coming up daily, won't this dilute the value of bitcoins, as the masses are more scattered?

 

[Dyhalt]

Sometimes you just need to follow the intuition of an old bird or horse.

If you see something that appears every day in this forum and a new thread about that topic daily.... its time to get cautious and out.