Is Bitcoin bubble or what ?

akshaybornare (43)in #bitcoin • 7 years ago (edited)

The word “bitcoin” now comes attached to the word “bubble”. But the question of what has driven up the price is important. Is this just a speculative mania, or is it evidence that bitcoin is taking on a more substantial role as a medium of exchange or a store of value? Put another way, is bitcoin like a tulip, gold or the dollar—or is it something else entirely?

Crypto-currency craze is unsettling people but shows little sign of going into reverse. This isn't because people are using crypto-currencies to buy homes or cars, or because regulators suddenly like them. It's seen as a way to make money.

#cryptocurrency #bubble

7 years ago in #bitcoin by akshaybornare (43)

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mkdmrs (46) 7 years ago

Bill Gates is worth more than the entire Bitcoin market value. Gates, Buffet and Zuckerberg are worth more than all the crypto's in the world combined. This means that 3 people have more money than the crypto's owned by the other 8 billion people on the planet.

I'd say that crypto's are in their infancy. Some crypto's may be considered to be in a bubble because they have no value or purpose and will disappear. But bitcoin has not scratched the surface. I think the perception that "one" bitcoin has X amount of value is throwing people off. There are going to be only 21M in total. If you took a fractional view and assigned the name "Satoshi" to 1/1000 of a bitcoin (like the US $1 bill) then you could say a Satoshi is worth $2.50 USD and people would then perceive the bubble differently. Instead of $5 for a latte at starbucks, it would then be "two Satoshi's" please.

$0.00

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