21–30 of 138 posts
Cryptocrruencies (for me) are meant to be used, exchanged, a good metric to value a cryptocrruencie should be the 'cash flow (? exchange of money per unit of time)'.
Bitcoin is actually inefficient with its high transaction fees.
A better parallel is gold, which is a store of value that produces nothing of value for its owners, but is valuable because the supply is limited and there's a collective belief that this shiny metal is worth much more than its practical uses.
Bitcoin is going up because of those same properties. If supply ever becomes unlimited (say, there's a critical bug found), or its investors lose faith, it will crash.
Old saying: "What's common in every bubble is the belief that this time, it will be different." -> if you invest in cryptocurrencies, make sure not to invest more than you can comfortably lose (probably a few percent of your overall funds).
The idea is great, but in reality these stupid crypto coins are practically useless and wasting HUGE amounts of resources. Bitcoin is said to be consuming as much power a some countries, and still rising fast, while the amount of transactions is comically low compared to the power consumption. Bitcoin in its current state can never be a thing to actually buy something with. I don't see any other long-term use for bit…
> Take dot-com stocks, which were the biggest bubble of the past few decades, and likely the largest in stock market history. At the height of the dot-com stock bubble, the technology-heavy Nasdaq stock index had a price-to-earnings ratio of 175. In the past year, bitcoins have generated transaction fees of nearly $219 million. And at $9,600 a piece, the total value of all bitcoins -- their market cap -- now tops $15…
Well, holding USD gives you inflation (i.e., negative interest).
Holding BTC doesn't (assuming the 21 mn are already priced in).
Was the collapse of the German Deutsche Mark, the Zimbabwean Dollar, the Venezuelan Bollivar a bubble too? Good money drives bad money out, so I’d argue that no, Bitcoin’s price is not a bubble. Clearly there’s no price that bitcoin holders will sell at so they’re clearly exiting the USD ecosystem. I think the logical fallacy that’s occuring right now with critics of bitcoin’s price rise is that all bubbles has drama…
Bitcoin has scarcity, but so does Litecoin or Bitcoin Cash What makes Bitcoin special?
Absurdly idiotic analogy, as holding the underlying is in no way related to the revenues that miners earn.
Was the collapse of the German Deutsche Mark, the Zimbabwean Dollar, the Venezuelan Bollivar a bubble too? Good money drives bad money out, so I’d argue that no, Bitcoin’s price is not a bubble. Clearly there’s no price that bitcoin holders will sell at so they’re clearly exiting the USD ecosystem. I think the logical fallacy that’s occuring right now with critics of bitcoin’s price rise is that all bubbles has drama…
what? dude that's some serious misinformation you're spreading here
The second part looks like nothing to say, backed by a lot of non sensical numbers, but I'm not a native english speaker and also generally don't read nor like economic "analysis", so I may be wrong