Is Bitcoin a bubble?
Is the US dollar a bubble? No!
The US dollar is a currency!
Is the Euro a bubble? No!
The Euro is a currency!
Is the Japanese Yen a bubble?
No! The Yen a currency!
So what is Bitcoin? It’s a digital currency and it has an exchange rate price vs all other currencies!
This is NOT called a bubble, it’s called DEVALUATION!
Let me prove this with an example:
The Zimbabwean dollar was introduced in 1980 to directly replace the Rhodesian dollar at par (1:1) value to the US dollar.
Over time, hyperinflation in Zimbabwe reduced the Zimbabwe dollar to one of the lowest valued currency units in the world! (Source: Wikipedia)
https://en.m.wikipedia.org/wiki/Zimbabwean_dollar
This is how the USD graph looks like vs ZWD.
Now…
This is how the BTC graph look like vs USD.
Still don’t see it?
What’s happening is that for first time in history, there’s an alternative to the USD, and it’s having the SAME effect as the ZWD but this time to “the official currency of the world!”
In the Digital Age everything changes and we need to educate ourselves with the new rules of the game[1]!
Bitcoin represents FREEDOM from FIAT currencies which are the the very cause of financial bubbles!
Bitcoin and other cryptocurrencies represent a global safe-heaven currency…
This is NOT a financial bubble its a new currency and it’s now clear that shit is hitting the fan!
How much could the devaluation of the USD to BTC be worth in the future?
I like to learn from history…
Zimbabwe's central bank allowed its citizens to exchange the country's almost worthless currency for US dollars. Its 100-trillion-dollar note is worth just 40 U.S. cents. (Source: WSJ)
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
The question is ... Can authorities accept? because they can not control a currency like Bitcoin? Authorities are in need of control....
I think the bitcoin will never be a real currency....
I think the bitcoin will be valuable property that you own. for example like gold or diamond.