Why bitcoin fever is a bubble waiting to burst
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It seems that cryptocurrency is in fact the place to be, as the uninformed sit uncomfortably by watching the value of their central bank issued notes falling under pressure. To anyone with even a basic understanding, the answer is exceedingly simple.
People are losing their faith in the ability of world central banks to keep the purchasing power of their issued notes from falling.
Moreover, people are also understanding that central banks will continue to force the value of their issued notes even lower. It is also exceedingly obvious that king dollar is not so king anymore, bitcoin is a bubble waiting to burst more and more governments are omitting the dollar in bilateral trade. I am of the firm belief that along with the epic rise in the value of cryptocurrency, it will not be long before governments themselves begin to accept payment in the form of cryptocurrency, and for anyone out there waiting for the cryptocurrency "bubble" to burst I have news for you, we haven't seen anything yet with regard to the realized end value of this asset.
For any asset to actually be in a bubble, it must first be widely held. To put a perspective on "widely held," let's look at another asset, housing which is currently in a huge bubble. Housing is obviously widely held. Many people throw the term "bubble" around without having the slightest clue of how to recognize one. In order for an asset to be in a bubble two things must happen. Also watch the market cap overall and by bitcoin.
This will continue sending shockwaves into the traditional finance sector. Bitcoin is a bubble waiting to burst expect that Japan will only expand the bitcoin universe, and other countries will follow.
That is the difference between precious metals and Bitcoin - the Bitcoin trade is not rigged by the powers behind the stage.
Else PMs bitcoin is a bubble waiting to burst skyrocket as well, perhaps even more than Bitcoin. I agree with your statements, a lot of people smarter then me are saying the same thing, the only thing I don't like is overnight it could all become a big zero. Sorry to disappoint you but overnight the USD could become a big fat zero too.
You're right, it all could come crashing down, or it could take off to the moon in a year and you'll be set to retire. Nobody knows for sure.
So, whatever amount you decide to invest if you invest at allbe comfortable with the idea, beforehand, that odds are there that you WILL LOSE that money. If you're ok with that risk, then you're in good shape and can make rational decisions with your money. Mind you, to buy a whole bit coin is almost becoming affordable to me I'll have to just go with a 'bit' of a Bitcoin!!! But that "bit" of a bitcoin is still way more than most have and who knows what it'll be worth when and if it's everyone's currency and there is no more mining.
A time when everyone will need tiny fractions of your "bit" just to have some. Thanks Greg what do you think is the best bitcoin is a bubble waiting to burst to get in the cryptos? Get in your position or dollar cost averaging over the mid-term? Greg, you state, "People are losing their faith in the ability of world central banks to keep the purchasing power of their issued notes from falling.
I believe that bitcoin is a bubble waiting to burst true power of cryptos example: It won't take the collapsing of the USD to push the value higher, but rather, as currencies around the globe crumble, it will propel these prices higher as people look for conventional and non-conventional places to store their money.
It's possible to go up to or more in the next two- three years with tremendous volatility, but zero chance to become world reserve currency and that's the biggest risk to drop again to zero. We all know that fiat is printed out of thin air by the Fed.
It is not backed by any asset. What assets are backed by crypto"s? They are also created out of thin air and have no real asset value either. Don't get me wrong I have made some money in the crypto's these last 2 years. But when it comes right down to it Both Cryto's and fiat are the same, they have no real asset value attached to them. So they will BOTH fail. I am new to cryptocurrency and I am having a hard time understanding how it works.
Do you have some beginner tips or info on where to start to learn more? Jeff Berwick has a great site: I also heard that this book is helpful https: Thank you very much for all you do. At first I was not paying much attention to the cryptos but these gains have me making my first purchase. I am a firm believer of stacking and have a monthly allocation just for that but think I need to start building a crypto portfolio.
Follow me if you want to see the latest meme war game going on and more articles about markets economy and so on!!!!!!! Do it I dare ya hahaha. Hey everyone I noticed some of the value from my posts went down. Is that just the fluctuation of the steem currency? I am still new to cryptocurrency so can someone help me out? It's very telling bitcoin surging while Gold and Silver continue to be suppressed almost like a canary in the coal mine.
Thanks for your balanced take on crypto's Greg. It would be nice if this was just another phase like last time, and it would fall slightly before rising again in the long term Cryptocurrency is unknown to the majority as far as I can gauge. If someone has heard bitcoin is a bubble waiting to burst it they might only know Bitcoin.
Certainly haven't heard of Ethereum, Litecoin, Bitcoin is a bubble waiting to burst etc. SO we are relatively early. When the taxi driver tells you to go in bitcoin is a bubble waiting to burst know its time to sell near the top! Always enjoy reading your posts. Gold and Silver still being kept lowish i guess they cant lower it more than price of production. Always great to read your Posts. You have a wealth of knowledge on this subject and Provide it freely. Steemit is going to go crazy soon.
Very useful and coming from you gives it gravitas. And you're very tactful too. Most people have not understood how money works and why it has value. Not even with gold and silver does anyone really know how much exists or will exist. This is the first time in the history of mankind that we really know the money supply of something.
Maestro reckons that there will be a pull back to aboutthen back up again. And seen as anybody can purchase bitcoin with even 1USD the bitcoin is a bubble waiting to burst is fully open for anybody from anywhere on the planet to participate!
About a year and a half ago when I started buying Bitcoin my then 12 year-old son said to me, "Bitcoin is a joke, Mom. We don't have mainstream television. Maybe bitcoin is a bubble waiting to burst heard about it at school or on Youtube?
Anyway, a couple months ago I was bitcoin is a bubble waiting to burst to say to my son, "That Nintendo Switch you seem to like so much was paid for with Bitcoin. To date the only regret of Bitcoin holders is that they did not buy more, having said that, never investing more than you are willing to lose is always good advice. I remember the first big internet fad, Beanie Babies, and how everyone thought they would get rich buying and then reselling these at skyrocketing prices.
It went on for a few years, then their value plummeted to near zero. Are cryptocurrencies just the next big fad? Greg, It seems the US government is already ruining cryptos. I dont think we're witnessing a bubble in the crypto-space. Based on this, people will misinterpret this volatility as bubbles forming and bursting.
It just seems one wrong news release and it will drop in half. Price dropping bitcoin is a bubble waiting to burst afternoon, may be linked? I'm so glad to find your valued opinion also about crypto currencies. Crypto is behaving as was originally expected from Gold and Silver. Having said that, I'm a bit concerned about the ICO inflation, the increasing number of altcoins. Or something of that sort Get paid for that knowledge.
The intelligent audience who realize Steem's true potential will make their way over here first. They will also be more likely to have money to bitcoin is a bubble waiting to burst. It is a very scary time, so I am making sure that my money is well diversified since I have no idea what is going to happen in the future.
So, I have cash on hand, gold and silver, some mining stocks, a gold money account with a debit card, and bitcoins. Let's see which crashes first. Oh, and only enough money in my checking account to cover my monthly bills. If my bank closes and gleefully steels everything I have in the bank, then they will not get much. This post has been ranked within the top 10 most undervalued posts in the second half of May See the full rankings and details in The Daily Tribune: May 12 - Part II.
You can also read about some of our methodology, data analysis and technical details in our initial post.
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