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Case for a bubble?
Julian Jones
Sebastian Smith
seekingalpha.com
prestonbyrne.com
these are good places to start although the first author is somewhat less informed
Kayden Williams
I mean of course there's going to be high trading volume and volatility in a new asset that looks to become a new type of universal currency used around the world
The price would continue to go up until mass adoption, after which it would be used for the convenience its technology brings. Obviously BTC is shit as a currency so it would never get to that point, but most people don't even get that part of it. They just think it's a bubble just because. Whatever succeeds BTC will hopefully be useful as a currency and make it all the way to mass adoption
Jaxson Ward
Technically e and f aren't true as banks aren't loaning still and interests rates are higher than they were in 2016.
Kevin Hughes
Rampant market manipulation with spoofing, wash trading, and painting the tape.
Nathan Moore
It’s a pyramid/ponzi scheme
Just look at the discussion about it here with all the talk about “holding bags”
Luis Gonzalez
i wouldnt exactly say e and f are a contributing factor to this. retards are always going to be able to get a personal loan or reverse mortgage / line of equity from the banks, and given the mania surrounding shit like this they arent even going to bother looking at current interest rates
John James
You can trade with 100x leverage so f is valid
Wyatt Carter
For all the no-bubblers, and this is a serious, good-faith request, can any of them produce a single example of market behavior like this that DID NOT precede a severe crash?
Because I and all the rest of us have been looking at a shit-ton of historical examples of behavior that DID precede a crash.
muh dotcom amazon, microsoft, apple
Yes, those are still here today, and higher than ever, but they still went into nuclear winter for years after the dotcom bust.
Unlike those companies though, bitcoin is a near-useless piece of shit, and is the worst "product" of its class.
So yeah, I dunno.
Again, show me one time where a market went as nuts as this one did, and then, when it found its price, just quietly stabilized on the moon.
inb4 "it's a bubble, but it's not topped out yet" OK, fair enough, I can definitely be convinced of that, but it's still a bubble that will blow in the short term (three to four more months at most?)
People who say this is a bubble are only going by EVERY POSSIBLE INDICATOR available. At the very least, it's a superior guess to "DURR, B-BUT THIS TIME IT'S DIFFERENT."
Luke Foster
stay mad nocoiner btc $100k by 2018
Brody Reyes
Not an argument.
Asher Green
OP, give be one example of a currency being in a bubble.
and just a fore-warning, if you say something like hyper-inflation, you will be mocked.
Ryder Barnes
because it's not a stock, you idiot. it's a currency. regardless if people hold it, expecting it to rise in value. sure many people can dump it, and it can go down. but people will buy it again eventually and start the process over.
Aaron King
It's not being used as a currency, it's a speculative asset.
Colton Gomez
except in this case, it's not backed by anything, except itself.
jesus christ, do i really need to explain this at this point? how many years have we been having this discussion?
Easton Parker
its definitely a bubble. most people are in it because bubbles make you rich
Anthony Ward
Tulips weren't backed by anything either
Jayden Wright
people were spending money on tulips, you fuckhead. we're spending money on currency and gas for distributed supercomputers.
Eli Campbell
>thinks bitcoin is being used as a currency
Henry Taylor
I have no problem with people being in on the bubble in order to capitalize on the stupidity. I did that, and got out permanently on Wednesday, and I'm not coming back, because this is fundamentally dumb and the risk/reward is getting thinner and thinner by the week.
What I don't get are the redditards and true believers who are actually convincing themselves that this is just gonna go to 100K or 1M and then just settle down up there, without at least one gigantic, torturous, years-long crash between now and then. It has literally never happened in history. Market-mania pricing, around ANYTHING, has never just gone full-retard parabolic, only to calmly settle without incident.
Levi Gonzalez
i'm not saying it's being used as a currency. i'm saying that it IS a currency. meaning that it ultimately doesn't matter if people choose to hold, it or sell it. FUCK good trolling
Luis Murphy
but it literally isn't a currency you fucking moron
John Williams
but it literally is you fucking moron.
Asher Torres
Stef owns a small fucktonne of BTC.
Cooper Wilson
I've heard this before but I don't believe it.
If he's bitcoin-rich, then why is he constantly begging for listener shekels? I personally would knock that off instantly if I were financially set.
Adrian Phillips
So sick of hearing the word "bubble" over and over again. I DON'T GIVE A SHIT IF IT'S A BUBBLE OR NOT COULD THESE PEOPLE JUST SHUT THE FUCK UP OR USE ANOTHER BUZZWORD. Like "overvalued" or whatever, just stop repeating the word bubble. Driving me nuts
Christopher Parker
bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble bubble