Bitcoin is in a bubble!

GunTotnHippie (Gold/Silver Stacker, Engineer working to understand our technical climate) ;)
BTC - 1BD4K7YnRejZmhddcjQceo8SHgS9F96uu1
LTC - LLJ1UamiehmRHptYKDdgXzpffJxP7rHD7W
ETH - 0x359Dff254A7517968C2D8f7EA771A77C5c2c7f9f

I finally decided to study the crypto market from an engineer standpoint (I know I am late) and found out that Bitcoin, currently, is in a bubble. Before you jump on me and label me a crypto hater let me first say that Ethereum on the other hand, from a technology standpoint, is actually pretty cool. The big difference between Ethereum and Bitcoin is Ethereum has a utility. Meaning it has a function other than being rare. Currently it's being promoted as the lubricant for businesses and processes. Smart contracts and crowd sourced funding are two of the utilities it brings to the table. Bitcoin on the other hand declares no such luxury other than being first to market. I've been dabling in cryptos for the last couple weeks and have to say, with initial hesitation, that cryptos do bring a level of inter connectivity and innovation. Mainly because their ability to bypass regulations and other regulatory hurdles. These hurdles, in our current system, create very expensive processes in which only the rich or larger corporations can absorb. From a free market standpoint, as long as the tech stays free market, this is great!

Now do I suggest you take all your hard earned money and invest in these coins as currency and margin trading to make a quick buck? NOPE! Don't do it! Back to my original title "Bitcoin is in a bubble..". Bitcoin is in a bubble because the separation from other cryptos. What's important here is not to look at the USD to Bitcoin but the separation between Bitcoin, Litecoin and Ethereum. The separation is not healthy because Ethereum specifically has a utility and secondary markets opening using the technology. Bitcoin, on the other hand,has no contract support and is only rare and first to market. First to market is not always something to sneeze at BUT as soon as you branch the Bitcoin code and throw up Bitcoin 2.0, 3.0, 3.2, 4.5 and 5000 other types our rarity of Bitcoin from a spectrum starts to decrease. This is the bubble I am speaking about.

My prediction is people will ultimately loose (maybe tomorrow, maybe 6 months from now) and the price will drop. People will flock to other cryptos, gold and silver then question why Bitcoin took off and they will deduce because it was considered an equal to Gold. From that point people will demand crypto CURRENCIES to be backed by silver or gold or something of value or utility.

I think you can draw a lot of parallels to the DOT COM bubble. Companies were ramping up hiring and building something (they had no idea at the time what) anything. The real take away, meat and potatoes, was that the internet really was going to change our lives forever. Businesses learned to lower their expectations and the internet age created the block chain that I am currently cementing this article in stone on. Cryptos will do the same but being backed by air is what will implode. People, rightfully so, will demand value or utility to back cryptos. Now on to creating my ICO (DMT) for my loyalty business...

DrumTag!

As a sidenote: Every computer viewing this post and every coin you transfer in this crypto wild wild west requires SILVER! Precious metals are not such an 'Old paradigm' after all.