Muh dis is not a bubble!!!!

remain a pajeet

not in terms of market cap though..

>bitcoin has a P/E ratio

things priced in regular currency have inflationary expectations built into them. this is a tiny bit different

Market cap is not really a good measure to compare things in different environments. That's why you don't use it to compare companies that belong to different industries.

Every financial bubble has popped because of the expansion of credit which ends up not being supported by the underlying asset. This is what P/E kind of measure.

>price-to-earnings ratio == expensiveness
nice FUD

Dotcom bubble busted at 5 trillion dollars, we're not even close to that.
Also back then even my plumber had stock in dotcom. Currently you'll have to look hard to find someone having BTC who isn't a tech nerd or part of a hedgefund.

brought to you by the folks that say "bitcoin is too expensive to invest in because i don't have 10k"

>Currently you'll have to look hard to find someone having BTC

this fucking gay lmao

See Also, we don't need to reach trillions of dollars. All we need is a run to the bank for whatever reason. And that can happen now or in two years, who knows.

idiot

deluded idiot

>price to transaction fees
Lol???

>P/E

lmao what

this lol

great arguments, thanks for contributing.

>P/E
>P/E
>P/E

In case you retards don't realise, using Tx fees as a measure of P/E is basically saying that BTC is a bubble because FEES ARE TOO LOW. WHO IS FUCKING BEING PAID TO MAKE THESE CHARTS IM GONNA HAVE A STROKE AT HOW FUCKING DUMB THIS IS.

In BTC's case it's price to transaction fees. It makes sense if you think about it, because it's the income of the miners.

You have it backwards. It's income for the miners, who run the whole system.

> Bitcoins are now 4 times as likely to get you jailed as dot-com stocks were at their height
from the same repertoire of arguments

...

Let me spell it out for you:

P/E is an estimate of how speculative a share is based on how much you pay for that share, proportional to how much the company earns per share. So inflated companies have a high share price, low earnings. This makes sense if buying shares is equivalent to buying ownership of the stream of revenue, which is how stocks work.

BTC is not proof of stake so owning a BTC does not confer any ownership over the stream of revenue, my owning BTC entitles me to none of the transaction fees, so in reality BTC's P/E is actually infinity because the price is infinitely higher than your share of earnings. It's like saying Gold is a bubble because Gold mines make very little profit. It makes no sense.

But difficulty adjusts based on how many people mine, so profitability of mining is virtually irrelevant because people will always mine because it will always yield some profit. As long as the network exists BTC will have a value, period.

this may be the most retarded graph I've ever seen produced by the media. I feel stupider having looked at it. Writer/editor should be shot

for the last fucking time:

MARKET CAP IS NOT THE METRIC TO BE CONCERNED WITH.

RETURN ON INVESTMENT IS.

YOU FUCKING TARDS.

>people are actually buying bitcoins at 10K

lmao retard normies

stop being retarded and maybe Ill talk to you like a grown up

this lol

People don't even look at the reasons to why bubbles get formed and burst, they just assume that massive adoption = bubble. The reason dot-com popped was because they're not sustainable. More and more companies were showing up, taking loans and making long-terms investments, using a ridiculous amount of money for marketing compared to development. Many sites would spend millions of dollars in advertisement to get a few thousand users. It was not sustainable for one simple reason: they were losing money. And the worst part - they weren't failing. They would keep putting money in despite not showing signs of profit.

Cryptos on the other hand are extremely inexpensive compared to the dot-com businesses. Some fat neckbeard can make a shitcoin alone from his mom's basement surviving on goodboy points alone. Money isn't wasted with most cryptos (except for a few obvious scams, of course, Bitconnect is a prime example), the only thing it depends on is the rate of adoption. And that won't be a problem for some time, cryptos are getting more coverage and there are more people and institutions interested in it than ever. And here's the best part about cryptos - they constantly fail and the market constantly crashes. Despite the ridiculous bull this year the market crashed 3 times, each time by over 30%. It may seem insignificant compared to the growth, but the point is that the market can recover really well from crashes. The technology is groundbreaking, the potential is huge and people have an almost religious faith in the market.

Now don't get me wrong, I'm not saying that I'm sure we're not in a bubble or that we won't see a big crash followed by a long bear. I'm actually betting on that happening, I just sold all my coins yesterday, but if you're the kind of person who looks at a graph and from that graph alone draws the conclusion "yeah, it's a bubble" you're a retard who knows nothing about economics, technology or psychology.