I'm starting to believe all the "bubble" talk. BTC is approaching a $100 billion market cap with very few actual uses...

It truly is cancer. How can you tackle a free market ponzi with free market tactics and not regulation? As long as it remains profitable, people will do it.

the only thing that could even remotely contribute to a bubble in bitcoin is the etf and as it stands it's a paltry 1 percent when compared to bitcoin's marketcap.
You don't know what a bubble is. People don't trade bitcoin from thin air, they make buys with cash money and exchanges settle for cash 100's of times a day. People are so afraid of holding large amounts of bitcoin because of the risk that overstock having a 50% hold made the news. Bitcoin is literally manufactured by an extremely predictable and infallible process. Bitcoin is not in a bubble.

Richard Prince's photo of a Marlboro advertisement is worth 20 million and does nothing. Same with Andreas Gursky's photo of a shopping center, just sits there, I don't even think it's in a public gallery earning tourism dollars

I think BTC will be FIIiiiIiiiIIIIiiiiIIne

Also the market cap is irrelevant as long as trading volumes maintain, Satoshi Nakanonymousto is probably never gonna sell of the vast majority of his coins with makes the per-block capitalization a lot smaller.

my local government runs a lottery here. You won't convince me with that line.

if ponzis bother you so much, go rob one. it's fun.

>People don't trade bitcoin from thin air, they make buys with cash money and exchanges settle for cash 100's of times a day.

It's still created from thin air. Just because people *believe* it has value doesn't make it so. It's no better than stocks - which can and do go to zero value all the time. Actually it's worse than stocks, because at least stocks have tangible assets behind them. There is literally NOTHING behind bitcoin.

If it had a massive variety of world use cases I'd be more inclined to believe that this growth is sustainable. But it doesn't. An extremely insignificant percentage of the world's population recognize it as having any value, and orders of magnitude less will accept it as payment for anything meaningful.

exactly
what do you do with your nations currency? trade it for goods and services, any others?

>trade it for goods and services, any others?

Obviously. But my nation's currency is universally accepted. Bitcoin is not.

That's just a meme now that Bitcoin is worth something

It was supposed to be a currency replacement first and foremost

if you pretended that bitcoin was a company and made a balance sheet for it, would you ignore mining farms as a tangible asset?

does xyz instrument, with all it's leverage have more tangible assets behind each dollar of it's marketcap? are those all 'in a bubble'?

>would you ignore mining farms as a tangible asset

Do you honestly think those "mining farms" are worth $100 billion? If so... who's your buyer?

I don't presume to know how much the total network's hardware is worth, but your arguments have turned petulant so I will let you get back to your little soapbox :)

...

they aren't a tangible asset if the prisoner's dilemma breaks and the floor of it falls out and makes mining unprofitable for everyone
the same as 1 billionaire could buy all the bitcorns like in sysbro's copypasta, so could one also obtain 99% of the hashpower and power it renewably with a bit of initial investment, ruining it for everyone by taking a big dump on the margins
>they'll just change the protocol
yeah it'll fork 5 times and fracture the already dwindling maximalist die hards even more

I use the hide feature for this level of stupidity

>muh bubble

Hmm..

>I've realized I actually have no argument, so I'll just throw out some ad-hominem and call it a day.

If you really are an investor these are pertinent issues. If you want to stick your fingers in your ears and say "la la la I don't care" that's fine, but don't say you weren't warned.

>I can't read thread

children usually do run away from things they can't reason with

> 99.5% of the planet doesn't have a clue nor give a fuck about bitcoin.
> Is in a bubble

One of the defining properties of a bubble is it being a widely held asset. If you can not understand why it is valuable and believe it is overvalued then SELL otherwise stop shitting up our board with your brainlet questions.

yeah i can tell you're not stupid enough to think that a company's value is equal to it's tangible asset value. I can also tell you're not stupid enough to think that you can model bitcoin as a company in the first place, or that bitcoins themselves can stand in as shares in any case. But you used a lazy argument and derailed your own thread. What else could I say?

Just ignore OP he isn't going to make it.

pastebin.com/ZUxTmR99
How to estimate price? take summ capitalisation of all banks include central bancks with gold reselves

Oh please. When the dot com bubble blew in 2000 not even 6% of the planet used the internet.

I never claimed a company's tangible assets had to match their market cap. You really excel at putting words in people's mouths don't you?

But I will guarantee you that any company worth $100 billion has a fuckload more assets to throw against that value than a couple of Chinese mining farms.

Apparently you cannot grasp this distinction.

sorry but you don't understand how corporate finance works. at all. You were really gung ho about making this poast but you don't have the knowledge to back it up.

>a bubble must be at this size and it must be this long to burst
muh paradigm

We're not talking about corporate finance you fucking numbskull. YOU are the one who said "pretend bitcoin is a company" and made some asinine comparison with the value of mining hardware.

That's just it, dumbass - bitcoin is NOT a company. There's nothing behind it's value whatsoever. It's all speculation.

On the flip side I don't have to "speculate" that Apples stock has value. I can drive my happy ass to Cupertino California and walk into their fucking headquarters. That headquarters is a physical structure. That physical structure has value.

You CANNOT say the same with Bitcoin. Period.

Yeah i've been there too, pretty nice place. Didn't care much for the people and the fire drill was annoying and reminded me of grade school.

But what's so special about their campus if it's offset by an equal amount of debt load? I'm sure it makes amateur investors comfortable but not me. I wouldn't buy apple stock unless I had some special information :)

> I'm sure it makes amateur investors comfortable but not me.

Apparently that's the part you aren't getting. Most investors are "amateur investors". They want their money secure, or as secure as it can be. How are you going to convince all of these people to "invest" in something they can't even fucking see?

You can't. And 7 years on bitcoin is still used by an extreme minority. It's going to need widespread use/adoption to maintain these price levels and I simply do not see that happening.

I will buy you out and then laugh at you when BTC goes over 20k by 2019

What is behind fiat? KYS.

FUCK OFF SHILL

sage

>What is behind FIAT?

Depends on who's FIAT you're talking about, tardo.

Bubble ? Just to remind you that real estate bubble is 217 000 BILLION dollars . Stock Market is a 80 000 BILLION dollars . so bitcoin isn't a bubble or it just the start .

stop respond to shills

sage

idc if BTC goes back to

Real Estate involves thousands of mortgage brokers. Stock markets involve thousands of companies.

We're not talking about something with THOUSANDS of facets. We're talking about ONE cryptocurrency with very few uses.

It's cute there's still deniers, altcoiners, and general retards still

You're just sour grapes you don't have a worthwhile stake in Bitcoin. Cry me a river and cope some more

Market Cap: $172,223,797,822 for BITCON !!!!

fuck off shill. you're a dumb fuck if you agree with OP

Ya know, it's almost like people have forgotten the huge $1k rally that subsequently plummeted and BTC went stagnant for years. If you honestly think it can't happen again, well....

"a fool and his money are soon parted"

this, these retards have been saying its a bubble since hit $100

anyway, we're going to be the new rich and nocoiners will stay behind. 100k bitoin by mid-end of 2019

fantastic
thank you for this input

Compare bitcoin to the dot com bubble and the real life use of these companies.
You have no idea what a bubble is. Bitcoin has qualities even without real life use, store of value and deflationary asset easy to transact.
Crypto has a lot of uses and we're only seeing the top of the iceberg and that's enough to drive the market, give a couple years and you'll see crypto influencing the life of the average person, either way we are far from a bubble, or this is the smallest bubble in history lmao.

it will happen YOU RETARD

like ALL MARKETS

shit goes UP shit goes DOWN

even the US DOLLAR, even REAL STATE, even BONDS,even STOCKS, that's just how markets work

but the trend is UP and you're missing out on SWEET gains cause you're a little stupid shill

bitcoin goes up? i buy

bitcoin goes down? i buy

that's the philosophy of the new rich. you'll be cleaning toilets while the bagholders you laughed at run away with the millions and become the new elite. how does that make you feel, shill? knowing you could have been rich but you decided to be a negative shill instead? sad!

>Bitcoin has qualities even without real life use, store of value

And if someone flips the proverbial light switch, it all goes *poof*. It's not even insured FFS.

>and deflationary asset easy to transact.

Yeah, so easy. Let me know when people are balancing their checkbooks to 8 fucking decimal places.

God you maximalists are delusional.

>Crypto has a lot of uses

I never claimed it didn't. Bitcoin is simply not keeping pace. It will be usurped.

I hold out little hope for mass adoption as a payment system. The market has also shown it doesn't really buy the 'digital gold' line either. However, I think eventually most funds will have at least a small sliver of non-fiat cryptocoin exposure. It really doesn't matter to me if the average person ends up buying bitcoin, because the person that controls the fund behind etf xyz in your retirement account will buy it for him.

Keep telling yourself that.

If you can get legitimate retirement funds treating bitcoin as a store of value, as well as other "out of sight" uses, then this is sustainable. That is not happening right now.

i just made 5k today with XLM

yer you're a fucking retarded shill lol

Re post this thread in 2 years when bitcoin reaches 20k so we can all laugh at you please

We're talking about BITCOIN, moron. Not alts. Try to keep up.

there is a very long chain of permission that has to wind up to allow real leverage to enter the market. Funds literally can't enter yet even though they want to, but they will the second imaginary coins are allowed to exist in large quantities.

don't care you're still a nocoining faggot

bitcoin is not in a bubble, now shut the fuck up

>you're still a nocoining faggot

Wrong. It's time for bed, child.

The regulatory concerns are going to take years to be addressed.

BITCOIN IS NOT IN A BUBBLE NOT EVEN CLOSE

how many more times can ppl make it clear for you? your thread is dumb shill just stop

>BITCOIN IS NOT IN A BUBBLE NOT EVEN CLOSE

What can I do with Bitcoin that justifies a $5,600 price? Do tell.

pastebin.com/ZUxTmR99
2. GOLD EXACTLY SAME A PYRAMID SCHEME AS A BITCOIN BUT ALREADY ABSORB ALL IN

Oh Jamie...

>100 billion market cap
This IS the use. People are treating it like gold rather than paper fiat.

It is though
I live in fucking uruguay

You can buy stuff on Newegg

the same thing with gold: store your value in it

how many more times can we tell you this? it's not a bubble, i doubt it's even in the beginning stages yet.

Nonsense. If I wanted "gold" I'd just buy gold. It's far less volatile than cryptos. Plus I can keep it in my possession and insure it.

I suppose if you live in some 3rd world shithole where you can't buy gold it might make sense, but then again if you're living in a 3rd world shithole you likely can't afford it anyways.

...and wait a stupidly long time for it to transfer while paying a ridiculous transaction fee, whereas my VISA is instantaneous.

No thanks. Try again.

See

Ehm, no?
What gives value to fat currencies is us believing it has value
Fiat is just debt, nothing really backing it up but more debt
So... I'd rather keep my internet meme coins, at least there's a finite number and no bank running it

>Fiat is just debt, nothing really backing it up but more debt

True, but not the whole picture. US fiat is the "petro dollar". Our military industrial complex is it's backing. The dollar will always have value so long as the US military stands.

get out retarded boomer

IIGqGpw
you sure are desperate as fuck to argue against something you dont even understand. please understand how money works and what makes money currency before wasting everyone elses time. thanks.

>boomer

33. Just happen to live in reality. Sorry fucko.

What about the chinese recently opting to buy and sell oil with gold-backed Yuens, are you going to invade them to?
Your petro-dollars are just more fiat
Oil isnt here for the long term either, while the internet, on the other hand, is

When oil isnt used and we have renewable sources of energy being implementend, wouldnt bitcoin be worth even more?

I'm actually well versed in how our current monetary system works. Apparently you are not. So here's the cliff notes:

The US dollar is THE world reserve currency. Virtually all international oil trades are settled in US dollars. The US has military alliances with major oil producing nations to enforce this. We defend them, they give our currency value via demand for a commodity that every nation needs. Ergo - the petro-dollar.

This concludes today's lesson. You're welcome.

Yep. However blatant ponzis are only the tip of the iceberg. EOS and others will have a larger effect and when this shit blows it will be fucking hilarious.

Bitpay visa debit card. I hold alts, but ironically, convert to BTC to spend

All that matters is who controls the majority. That ain't China.

Bitcoin needs to find a practical use. It simply doesn't have one. I make money on bitcoin but I sure as shit won't hold it long term.

And we dont really need oil, it is a really retaeded way to get energy and either we leave it behind or die
We already have better sources of energy too
Also the dollars arebt a reserve of value, they're a payment method
Countries hold dollars just to manipulate the market to give it stability as its a free market but volatility would ruin the economy of many if not all countries

But your still having to convert to a native currency to use that bitcoin. That's my point. It has extremely few direct uses, it has to piggy back on someone else.

Are you really this stupid? Name a single fiat that is backed by anything, AND has a limited supply AND isnt tied to the USD. I'll wait.

Now you think China dosent matter
That's it folks, OP is a 33 yo NEET who believes what he wants to believe
Go to sleep OP, the sun is already out

>we dont really need oil

LMAO... you don't actually think oil just runs your car do you? Have you ANY idea how many products you use every day that are derived from oil?

>Now you think China dosent matter

Read again moron. I said what matters is who controls the MAJORITY. I dunno why the hell I'm even responding to you desu, you don't even know what the hell oil is used for.

all China has to do is send out a fleet of cargo ships and our navy is done lol. Really though the US military is a joke. Russia and China are almost at parity if not better and unlike us, they dont have a fucking social experiment of a military that is spread thin and fighting wars for oil arcoss the globe.

Try reading my previous responses. I'm not going to repeat myself to a bunch of NEET who can't into basic reading comprehension.

Yes, sadly I do know
Loads of consumerist garbage like plasroc derivates and cars
As I said, there's better sources of energy, only reason we still use oil is because of the greed of the oil owners
Also I dont drive a car because Im not a consumerist and selfish asshole, I walk, drive a bike or take the bus
Really no need for a car and Im happy without one

So rather than answer the question you just talk shit.

this isnt 5 years ago you stupid old fuck

>Really though the US military is a joke. Russia and China are almost at parity

BAHAHAHAAAAAAAAA. Do you know how many commissioned aircraft carriers Russia has?

One.

China?

One.

The USA?

TWENTY.

And that's just one sliver of our overall abilities. It's time for me to go to bed. The amount of fucking kids on this board has become inane.

That would mean Venezuela is the world most powerful country, it isnt
Nigeria has bigger proven oil reserves that the US of A
I only keep answering because I find your lack of intellect amusing