Is Bitcoin the Biggest Bubble in Human History?

[bdamenaakter]

The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.

Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.

[Elaine99M]

I never think bitcoin is a bubble, in fact it reaches this far. Bitcoin became more popular due to its significant features and usability. Unlike other coins with unsuccessful projects or don't have massive support from investors and users simply become one. For me, bitcoin cannot be turn into a bubble unless all big investors and users are withdrawing their support on it.

[88percent]

Bitcoin is not a bubble. Although it does not have intrinsic value, it is called a gaming money, but bitcoin is not a bubble phenomenon. The rise and fall of bitcoin prices is influenced by demand and supply. So we can't say that bitcoin is a bubble.

[robelneo]

It's been a decade since Bitcoin was created and still that bubble theory persists, it seems these fudster will never stop calling it a bubble and will wait for it to burst even if it takes 2 more decades, I wonder when these people will stop thinking and treating Bitcoin as a bubble.

[gribble]

bitcoin is not a bubble. because so far bitcoin is more popular. because the functionality of its use is not like other coins with projects that fail or do not have the great support of investors and users. for me bitcoin is not a bubble even though it has no intrinsic value. the rise and fall of the bitcoin price because it is influenced by demand. so we can't say that bitcoin is a bubble.

[I-Bit]

As long as there are still many parties "sell and buy" the bitcoin, the false scarcity theory is nothing. I am just curious about your belief in bitcoin and crypto. Do you still believe in them? If you don't believe in, It is hard to explain it to you about the potential of bitcoin. I think bitcoin won't be a bubble if people need it.

[kamal420]

No, bitcoin is not a bubble and it will not burst, because with the help of bitcoin technologies we were able to achieve new goals and will achieve more in the future. The only bitcoin problem is its price, which always falls or grows and it may seem to many people in the form of a bubble. I think that while bitcoin makes a profit, it's unreasonable to call it a bubble, because its charms are not only in price but also in possibilities.

[IL Regulus]

It could be on that way but since it is made with unique and advance system as far as payment method is concern many were hooked up on it. On the other hand this will not matter anymore in the future as it will change the payment system of the world.

[arwani kurama]

this is just a nickname, obviously bitcoin has the support of big investors which will have an impact on the development of crypto money right now ..

[nagato]

bitcoin is a bubble, will it explode or disappear, I don't know what I think is bitcoin is the king of cripto right now