I have to disagree with your definition of a bubble. I was at ground zero for the real estate bubble in Florida and by your definition we were never in a bubble for real estate. I do agree that I do no think bitcoin is in a bubble but I do not know what price it should be, that is up to the market.
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The difference betwixt the real estate bubble and the bitcoin bubble was that everybody that wanted to buy a home was able to do so via the easy money policies. Bitcoin hasn't even proven to the "aveJoe" who knows about it that it can be anything more than a pain in the ass. You have slow transactions, lost or stolen privacy keys, you have to shuffle shit around just to get it converted to cash...which of course is everyone's main objective since all the cryptos are still priced in dollars. The windup is that one of Greg's two criteria for a bubble to be present CAN'T actually occur right now because even though there are millions of people who know about it and "would" invest in Bitcoin...anyone with any common sense "knows" the crypto nation is sucking down whippets...and that's why they all bees talking so funny. :-)
That is funny as hell.