The price of Bitcoin is keen on breaking record after record in dollar terms, while the us debt is breaking record after record. I don't think you have to be genius to figure this one. It's just a matter of paying attention. Well, are you?
Let us take a look at the usdebtclock.
If you're advocating that bitcoin is a bubble then I guess you think the us debt and dollar is sustainable and perhaps quite healthy for the economy, cause that is what you are implying.
Let us take a look at Bitcoin.
One could argue that Bitcoin is in a bubble in dollar terms despite being deflationary of character. However if one were to reason that Bitcoin is in a bubble, how would you call the never ending expansion of the us debt then
a super humongous ultra freaking mega mega bubble
You know what I find funny. Every person claiming that Bitcoin is in a bubble seems to have no problems with the unsustainability of the dollar or any other fiat-currency. Which leads me to think that these guys and girls just missed the bitcoinrocket and are just shilling the dollar to get on to the cryptotrain. They be like: Bitcoin is a bubble, you'd better have some dollars. These dollars are real good for ya and a true safe haven, yaa.
Meanwhile we have the old money metals being left out the daily conversation like a unpopular person on prom night and nobody wants to hang out with these guys. From time to time they got harassed by the big boys and everybody thinks that's the way it is.
The metals are in not in bubble territory nor are they showing any signs of strength due to the falling purchasing power of the fiat-currencies via low interest policies and quantitative easing. They seem to be frozen in time. What a great reflector, must people think.
This all reminds of a certain scene in a movie I saw long ago.
Knowing that the crypto markets are just tiny in comparison to the bond markets, housing markets, current valuations of companies like the FANG, the presence of thousands of millionaires and billionaires all over the world trying to keep what they have, I must say that 2018 seems to propping up to be the great equalizer of our lifetimes.
Peace out.
It is a mistake to look at bitcoin through financial lenses. Bitcoin is a technology representing the blockchain underneath it. While there are some problems with the bitcoin platform, there are also solutions being worked on. It is the oldest and longest chain with the most development on it. There are more businesses built on bitcoin so far than any other blockchain.
Whether the answers are lightning, plasma, or sidechains, bitcoin will solve their issues. And there will come a day where interoperability is arrived at which, I presume, will lift the value of all blockchains.
So no Bitcoin is not in a bubble...it is only at the beginning of the S curve.
I think you are quite right, sir. I couldn't agree with you more.
Interoperability and scalability are gonna be huge moving forward.
@yasien I definitely agree with you and @taskmaster4450. People who mention bitcoin is in a bubble is because they want to get in the airplane, and pretty much that they no nothing about it. If you see it as a normal stock in the market and within the governments and anking systems, perhaps they would be right, but BITCOIN is a currency created to backup the technology changing and disrupting the status quo systems that are devasted and already lost all the trust of many people. upvoted @gold84