Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: hiramehar on August 30, 2018, 04:41:29 PM
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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.
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So true. So far Bitcoin has become the best Coin in the Crypto world and the only coin that can be trusted by all people in the world and also by the countries that exist, and not even a few countries legalize Bitcoin as a transaction tool for its citizens. This makes Bitcoin as King from Cryptocurrency until this moment remains a king and his position will be difficult to shift by any coin.
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While we can not say exactly what bitcoin is the biggest bubble, although it can not be denied. In any case, you need to carefully invest in it and remember that with the increase in its value, the risk of investing in it also rises.
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While we can not say exactly what bitcoin is the biggest bubble, although it can not be denied. In any case, you need to carefully invest in it and remember that with the increase in its value, the risk of investing in it also rises.
If it drops back to $400 and starts fluctuating there for many years to come, it would be indeed the world's largest bubble I think.
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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.
I think It is normal mate. For now Bitcoin is in bubble. I believe at the comung future Bitcoin will be more stable.