Is there anything in the entire study of economics that suggests this insane meteoric rise will NOT just crash and I'll...

Is there anything in the entire study of economics that suggests this insane meteoric rise will NOT just crash and I'll lose all my neetbux? Can someone with an econ background please weigh in.

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henlo, i have a BA (bachelor of arts) in econ (economics) from a UC (university of california), and my conclusion is that BTC has historically followed a Saw Tooth Pattern (look it up). It is overdue for a pullback and you are seeing it right now. These are facts.

Have fun.

Economic here
Doesnt matter. People are saying it will reach 100k so it will eventually. as long as people believe it will rise they will buy

Depends on what timescale you're talking about. Short-term, meaning a couple months, yeah we'll probably see a dip back to $2500 or lower. Longer term? Well, just remember that the dotcom bubble popping didn't kill the internet. A crypto speculation bubble won't kill crypto. As long as some quantum decryption process doesn't come along and totally invalidate crypto security, it will have value. As long as crypto remains less than 0.1% of the world's economy, there will be room for growth. In fact, as long as the world economy grows, it doesn't matter if crypto as a percentage of the world economy stays the same; there will always be a hard limit on BTC.

If you think it'll crash just short it

You can make money on the way and on the way down

easy

neet here. I have some pizza.

Before a bubble we need the big investment firms fucking shit up and most of the normies abord. Believe it or not, we are still at smart money time. Maybe not as smart as the first guys, but smart after all.

Then the big firms, then the normal people. Then the crash.

I'm an Econ major. Nothing I studied was really relevant to crypto, except for things like supply and demand that apply to all markets. But that doesn’t help me answer your question. I'm pretty sure this is some unprecedented mystical future shit going on. For what it’s worth, I have 99% of my net worth in crypto. And I think it will eventually achieve a market cap comparable to the stock market.

I feel bad for the poor university that accredited you. Either way OP bitcoin will continue to rise as long as people hear that it rises forcing forward thinking sentiment upon it. The only adjustment there will be is when people cashout. Seen the chinks ban it? seen them get their money out? thats the current dip. think they are gonna keep it banned? then you are stupid. I have a fucking masters in finance and i can say we are living in a golden age, pick your coin hold it for months and make your money.

The big firms are already in m8

There was only one confirmed who had like 50k usd in btc

Bitcoin is what is known as a 'Veblen' good.

The more the price goes up, the more demand goes up.

Throughout history, we've had semi-Veblen goods like tulips. Tulips have no real utility, however.

Bitcoin, unlike tulips, is a marginally better form of currency than existing alternative. More importantly, it is *much* better currency for *some* people, so transition is sticky and strongly motivated for a non-trivial subset of people. This subset of people tends to be those operating high margin, high profit businesses (often illegal, but no matter), which means everyone else wants to be on the same network as them (follow the money). Hence, the transition from legacy cash to bitcoin cash is inevitable.

The dynamics of the transition follows an S-curve like pattern in part because the dynamics of the transition is a self-fueling exponential feedback. Currency operates on a network effect that scales like n^2. Each transition from legacy cash to bitcoin cash not only strongly increases (n^2) the network effect of bitcoin cash, but strongly decreases (n^2) the network effect and value of legacy cash. Marginal adoption drives even stronger marginal adoption.

Behold, a veblen good.

1 bitcoin will be worth a million dollars some day

Economics is useless at predicting things.
I'm a PhD student but also an Austrian so take it with a grain of salt and do your own research. It really isn't that complicated.

Price is a function of scarcity and demand. If the good is scarce or the demand is great, the price will go up.

Cryptocurrency isn't scarce -- there are new ICOs pretty much every week now. That means the rise in price can be attributed mostly to the demand side of the function.

Now ask yourself why crypto is in demand? Is it because it's being used as a commodity? The answer is categorically a no. While there are uses for the commodity, they are way out of line to support the demand.

We're in a speculation bubble. It just needs one needle to pop it -- EU regulations restricting crypto, a big crypto hack, US regulations on crypto, etc.

>Cryptocurrency isn't scarce -- there are new ICOs pretty much every week now.
I don't believe this. ICOs are not good substitutes for each other. These random alts don't affect the scarcity of bitcoin.

>EU regulations restricting crypto, a big crypto hack, US regulations on crypto, etc.

Any country putting regulations on crypto won't stop it. It can't be stopped, only slowed down a little.

probably the worst post here.

supply and demand mate. not that hard

The great part is that the fundamentals are on our side. If one country bans bitcoin or crypto in general they'll get hate fucked by every country that adopts it because they're missing out on massive amounts of wealth and technological advancements,

we're in a permanent chad market

It seems meteoric because you zoomed out.
Day to day, it's like a small rise.
Similarly, when it falls, day to day, it's a small decrease. Dips included, dips seem instantaneous, but they takes at the very least 2-3 minutes to reach 25% fall, largely enough time to react.

Also, in ten years bitcoin will reach 10 millions.
Famous people say it, and the retarded masses believe what famous people says, because they have no cognitive abilities of their own.
NEVER bet that the masses can't be easily manipulated by jews.
NEVER bet against what jews says.

this guy gets it

>charts bitcoin linearly

It will crash when the limit is approached.

>Meteoric rise

But meteors fall

do not confuse the term "bitcoin cash" with "Bitcoin Cash", the shitcoin.

Good LARP. No matter what judicial laws apply, the attraction is still there. The genie is out of the bottle cuck.

Try again.

Nice outdated infographic with no relevance.

Firms are never going to go 100% into crypto, or even 5%.

The argument only applies to "Bitcoin Cash" (BCH), a viable medium of day-to-day commerce.

The argument specifically does not apply to tulips / BTC as a "store of value." That's just a ponzi with an inevitable crash coming.

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you don't get a BA in Economics, lol a BS you fucktard

This is correct. Bcore (Aka Bilderbergcoin, AKA Shillcoin, AKA $10feecoin) is being artificially restricted in order to push sidechain solutions. All of which are owned by blockstream. Lightning network was never meant to solve the Coffee problem.

>no relevance
>BTC is still a pixel in a sea of dumb fiat money
kys coper

If you do your research, you'll find many firms are preparing to get into crypto.

Go to bed, Roger.

>It's definitely a bubble and its gonna burst any minute now!

Says increasingly salty nocoiner for the past 5 years

Kek. Requesting the chad pattern chart pic

Macroecon reporting for duty, obviously no direction of movement can be guaranteed but I think it will continue to rise based on the concept of demand for liquidity/money:

Demand for money = the sum of transactionary (Lt), precautionary (Lp) and speculative (Ls) demands.

Lt arises as a result of the difference in time between when you get paid and when you want to spend money. Think about it, if you get paid $1000 monthly and consume it evenly (disregarding savings), your average account balance is $500. If you get paid $500 fortnightly, consumed evenly, your average account balance is $250. So on and so on.

Lp is the factor of demand that accounts for the fact most people don't consume money at a dead even rate, and therefore people with more volatile expenditure rates would have a greater Lp value.

Ls, within the ISLM model this is based off of, is usually a result of speculation within the bonds market. If the bond market is paying out a higher interest rate, Ls is lower, reducing demand for money.

This is where I see BTC coming in:
BTC not only has transactionary and precautionary demand, it also has speculative demand that increases with it's "interest rates" (basically in this case just fluctuations in value). This holds true for other cryptocurrencies, but as a currency is only as valuable as the people using it evaluate it to be, it's grip on the market has solidified to a point where it will be quite hard to lose. This, in conjunction with further increases in all 3 forms of demand as its popularity rises, could be seen as a good indicator that its value will continue to rise in future.

>in the entire study of economics
how fucking retarded are you? FOR THE LAST TIME, CRYPTO IS MULTIDISCIPLINARY. UNLESS YOU'RE A NOBEL PRIZE WINNING SOFTWARE ENGINEER AND ECONOMIST, YOU HAVE NO PLACE MAKING ANY FIRM OPINIONS

There is absolutely no fucking way to know what's going to happen, because this is entirely new territory.

Think about it.. we are early in the game the whole crypto market cap is a small ass fraction compared to any stock market. We are still early in the game and a lot of people hopped on there is still the whole rest of the world crypto is not mainstream yet. this chart aint shit until we get real market cap apple stock is 800 billion stock exchange like 20 sum trillion your looking at the 5 minute chart u feel me

...

[1] your seeing and adoption scurve

[2] the amount of money printing via low inflation, bank instruments (loans), currency devaluation and so on, is out of all propotion, and why you are seeing you buying power massively deflated. BTC/crypto catches all of this as the only rigged hedge in existence.

[3] look at the weimar republic mark value curve it looks a alot like the BTC price increase. BTC allows us to umask finally what is going on, and there is the graph to prove it. See with BTC you can not fake not haveing it, you either do or you do not, you cannot fractionally reserve it (well exchanges try I suppose) its can be provably owned. It cannot be arbitrarily seized if you secure it right. It is immune to arbitrary tax and legislation/policy changes, or at least you can choose your jurisdiction if you want to go to fiat. So zero capital gain Singapore here I come.

[4] For the first time in history you have a form of money/wealth that you have to reason with individuals about why they should spend it, cannot beat them over the head, steal or tax them, print them to 0.

[5] You can teleport you wealth . See Gold is ok, but who trusts a gold cert, and you can't teleport gold or make in invisible / weightless and carry x million through the airport. Cashing in gold is kinda hard also, or unsing it as a means of exchange