Bitcoin's 'hyperbolic bubble is going to go bust'

[PimpMasterC]

lmao, people have to resort to calling me names because I constantly demolish bitcoin. I will be getting some sleep now. will happily continue the discussion tomorrow. Stay mad bitcoincels.

[The Prime Nip]

Just LOL @ OP reading one Yahoo article and claiming it is as proof that BTC is a bubble.

"LOOK! YAHOO SAYS IT'S TRUE! IT MUST BE TRUE! I AM RIGHT! YOU ARE WRONG! I KNOW MORE ABOUT ECONOMICS THAN ALL OF YOU *******S!" as OP furiously types with tears - filled with cope and lost dreams - flowing down his face like Niagara Falls

[DavidL913]

1. So you expect something 10 years old to achieve reserve currency status and worldwide mass adoption straight off the bat - Nice one retard. Yea I am sure the institutions that have staked billions in BTC with armies of analysts don't know any better than some retard on this forum.



2. You just said a whole bunch of nothing here. This is just all nonsense gibberish.

Also 'lol' at your high IQ. Keep throwing all your money at tezos lmao you absolute norweigan school shooting POS.

lmaooo

The moment he kept on talking about Tezos like it's the holy new crypto standard, it was a tell-tale sign of something not wired right up there.

[A-GAME]

So its a 11 year and still going bubble that's had smaller bubbles inside it? How long does something need to be around for before it's no longer a bubble? If BTC is around for 50 years before it gets replaced, was it still a bubble? If Apple or some major tech company was to go belly up, was that a bubble?

The word bubble gets used so much i honestly don't even know what it means when people use it.

Bubble just means it's artificially inflated. Like I said, I don't see any intrinsic value, which leads me to believe that the price explosion is just plebs gambling. The price keeps going up because people believe that it will be worth more tomorrow than it is today, not because it has specific value. But by all means, prove me wrong. What's it's value?

[Serenadium]

Bubble just means it's artificially inflated. Like I said, I don't see any intrinsic value, which leads me to believe that the price explosion is just plebs gambling. The price keeps going up because people believe that it will be worth more tomorrow than it is today, not because it has specific value. But by all means, prove me wrong. What's it's value?

I can send large sums of Bitcoin to any one around the world for a small fee (~$2) reliably within 10 minutes without the permission of any individual, bank or nation state. It can't be destroyed or confiscated and the network is secured by 140 TH/s of energy.

Tell me how is this not 'intrinsic' value?. Try doing this with precious metals or a bank wire; its either impossible or you need to jump through all sorts of hoops, pay a larger cross border payment fee + suffer a waiting time of multiple business days.

[DavidL913]

I can send large sums of Bitcoin to any one around the world for a small fee (~$2) reliably within 10 minutes without the permission of any individual, bank or nation state. It can't be destroyed or confiscated and the network is secured by 140 TH/s of energy.

Tell me how is this not 'intrinsic' value?. Try doing this with precious metals or a bank wire; its either impossible or you need to jump through all sorts of hoops, pay a larger cross border payment fee + suffer a waiting time of multiple business days.

brb going to carry 20 bars of 24k gold through the airport in my suitcase

[Contribution05]

Bubble just means it's artificially inflated. Like I said, I don't see any intrinsic value, which leads me to believe that the price explosion is just plebs gambling. The price keeps going up because people believe that it will be worth more tomorrow than it is today, not because it has specific value. But by all means, prove me wrong. What's it's value?

The guy above mentioned a couple, but really if you want to know it's value you need to just read up on it. I said the same thing as you, and was always like "what the heck? why would someone pay $10 for this?" then it was $100, then $500, then $1,000 year after year price kept going up and at some point i decided, okay maybe there is something I'm missing and i need to look into this.

Now its $23,000 after 11 years of price increase. That alone should make you curious enough to question your own beliefs on it.

[The Prime Nip]

Bubble just means it's artificially inflated. Like I said, I don't see any intrinsic value, which leads me to believe that the price explosion is just plebs gambling. The price keeps going up because people believe that it will be worth more tomorrow than it is today, not because it has specific value. But by all means, prove me wrong. What's it's value?

Value today of $1,000 invested 5 years ago:

BTC: $51,269
Shopify: $46,905
Etsy: $22,320
Nvidia: $15,688
Tesla: $14,010
PayPal: $6,471
Apple: $4,850
Amazon: $4,718
Netflix: $4,385
Microsoft: $3,790
********: $2,553
Google: $2,290

Just LOL at stocks

[PimpMasterC]

If you support bitcoin you clearly don´t want to support a long lasting future proof neetwork that will help humanity the most. If you support bitcoin you are anti innovation and pro greed. You´re a low life zombie hypocrite that supports a pyramid scheme that will collapse. Use your brains you greedy phucks and stop shilling a scam. How in your right mind can you claim bitcoin is sustainable? You gotta be a phucking moron to think that


"Thanks for your questions. Right now every mined Bitcoin block contains 6.25 newly minted BTC (called “coinbase”) to reward miners and make malicious attacks expensive. Every 4 years this reward will be cut in half. After decades, miners will receive very little coinbase, and there is no guarantee that Bitcoin’s price will keep up with halving for miners to be profitable and sustain the hashrate that keeps it secure. This is the drawback of a fixed supply with security based on explicit reward.

Without much coinbase, miners would have to rely on transaction fees to be profitable. Since Bitcoin can only process 7 tps, the number of transactions in a block are relatively fixed, so the only way to get more reward is for the network to become congested so people are willing to pay more fees per transaction. But, the point of 2nd-layer is to move all the smaller transactions away from the base chain and reduce network congestion. This inevitably takes away fees from miners.

In summary, as 2nd-layer matures and halvings continue, Bitcoin miners will get less reward in BTC in the long run. The only way to keep up the security is for Bitcoin’s price to keep rising so mining at high hashrate can remain profitable, but nothing in the history of mankind goes up for forever. This almost shares some resemblance to a Ponzi scheme: as long as price goes up, “this is fine”. So if we embrace Bitcoin as THE sound money or store of value, we will probably be ok for a few decades, and then its security is gonna be threatened and faith can collapse (assuming the Core doesn’t change issuance schedule), just like the US debt. It would really make you wonder why don’t we just stick to ETH after EIP-1559. Hope that clears things up."

[MyBaddBrah]

Someone please tell me where and how I can short Bitcoin. I'll do it, srs.

[s0mmi]

Anybody who quotes Nouriel Roubini demonstrates that they understand nothing. These articles come out every month and only add fuel to the FOMO when we go up.



This guy has zero skin in the game. He has been saying Bitcoin is going to zero since 2013. It's gone from $50 to $24,000

He is obviously wrong. He's been wrong for 8 years and he will continue to be wrong. And if you continue to sit on the sidelines you will continue to be wrong with him too.

[PimpMasterC]

Someone please tell me where and how I can short Bitcoin. I'll do it, srs.

You gotta sign up for an exchange where you can short it. You can short it on most big exchanges with different leverage. On binance you can short btc by buying BTCDOWN, for instance. But it´s only like 3x leverage at most.

I don´t know if shorting it right now is a good move tho. Who knows. But eventually it will be a very good time to short bitcoin.

[isingmodel]

Someone please tell me where and how I can short Bitcoin. I'll do it, srs.

You won't short anything. If there's one thing that nocoincels have in common, it's that they're never capable of putting their money where their mouth is.

By all means though sign up for Binance or any other major exchange and put in a short, screenshot it and post it here for us. We're waiting.

[YodaToda]

Keep throwing all your money at tezos lmao you absolute norweigan school shooting POS.

Imagine being in the school shooting capital of the world and saying that

LMAO

[PimpMasterC]

Imagine being in the school shooting capital of the world and saying that

LMAO

He knows he cannot compete with my logic, thats why he resort to namecalling. I have truth on my side, he has greed, lies and manipulation on his side. He´s an agent of evil

[guest89]

I can send large sums of Bitcoin to any one around the world for a small fee (~$2) reliably within 10 minutes without the permission of any individual, bank or nation state. It can't be destroyed or confiscated and the network is secured by 140 TH/s of energy.

Tell me how is this not 'intrinsic' value?. Try doing this with precious metals or a bank wire; its either impossible or you need to jump through all sorts of hoops, pay a larger cross border payment fee + suffer a waiting time of multiple business days.

Lets not pretend like bank wires, Cashapp, Venmo, etc. don't exist in 2020. USD can be used in many places or easily converted.


Literally every boomer I know has Cashapp now. People in their 60s....


I don't know anyone IRL who uses bitcoin, for anything.

[SouthDakotaBrah]

Lets not pretend like bank wires, Cashapp, Venmo, etc. don't exist in 2020. USD can be used in many places or easily converted.


Literally every boomer I know has Cashapp now. People in their 60s....


I don't know anyone IRL who uses bitcoin, for anything.

this

I'd rather buy paypal and square stock for my stake in the future of financial technology vs. Bitcoin

also lmao at a $2 fee to send money, just use cash app

Buying things with bitcoin is so fuking infuriating. Brb buy xxx amount of bitcoin for $1000, have to wait 3 days in coinbase to transfer the funds. Brb bitcoin went down in price 10% so have to buy more bitcoin, doubling your transaction fee. Brb bitcoin went down in price again, have to repeat

Just lmao if anyone thinks boomers will be using bitcoin to buy chit in our lifetime

[Contribution05]

Lets not pretend like bank wires, Cashapp, Venmo, etc. don't exist in 2020. USD can be used in many places or easily converted.


Literally every boomer I know has Cashapp now. People in their 60s....


I don't know anyone IRL who uses bitcoin, for anything.

Yep and those apps are handy. Though everything you just mentioned REQUIRES third party approval. Bitcoin does not. I know most of us have no worry about assets being frozen, but banks do control your flow of money. Again, no one can stop your bitcoin transaction from going through.

[jasticus]

Mirin that vanguard account op. Clearly you made it Ans have the money. Go do your self a favor and go buy a dozen

[ayyy]

the very second the government learns to track it with ease its gg which we're already almost at that point

bitcoincels will never admit its an asset used entirely for illegal activities and if that is taken away its value goes to 0 within minutes.

[Kiop]

he is right
and wrong
but right again.

[Frank Drebin]

Value today of $1,000 invested 5 years ago:

BTC: $51,269
Shopify: $46,905
Etsy: $22,320
Nvidia: $15,688
Tesla: $14,010
PayPal: $6,471
Apple: $4,850
Amazon: $4,718
Netflix: $4,385
Microsoft: $3,790
********: $2,553
Google: $2,290

Just LOL at stocks

How about 3 years ago?

[jasticus]

the very second the government learns to track it with ease its gg which we're already almost at that point

bitcoincels will never admit its an asset used entirely for illegal activities and if that is taken away its value goes to 0 within minutes.

Tap root for privacy upgrades coming

[jasticus]

How about 3 years ago?

Everyone seems to have zero memory of pre 2017. Btc at 1k January 2017. Fall 20k then nee pricing 3-8k. And that was right after the last halvening. Idk why people compare 3 years of btc to its entire existence lol

[W1LLW]

“The price of Bitcoin is totally manipulated by a bunch of people, by a bunch of whales. It doesn’t have any fundamental value,” he said. “We’re close to the point where the hyperbolic bubble is going to go bust.”

https://finance.yahoo.com/news/nouri...144807645.html

Good lord all mighty, neither does gold if you really want to get down to it. Can't believe this is still a statement in 2020.. This was said when bitcoin when it was $600, when it was $1,000, $10,000, and $20,000 for a day e years ago. It's now been hovering above $22,000 for a week.

Would i be buying in now? No, but you are a socialist plebian ******* if you have not been using bitcoin's cycles to make money. Buy the muthafukin dip.

[Serenadium]

Lets not pretend like bank wires, Cashapp, Venmo, etc. don't exist in 2020. USD can be used in many places or easily converted.


Literally every boomer I know has Cashapp now. People in their 60s....


I don't know anyone IRL who uses bitcoin, for anything.

How does a non us citizen permissionlessly sign up and use venmo/cash app and send $100k usd anywhere?

Actually I doubt a us citizen can do the above. Bank wires blow balls and has terrible UX.

Btc is permissonless, self sovereign and non discriminatory, that is immense value alone. Ironic americans love freedom and dislike traditional banking practices but cant get behind btc.

[elterrible987]

of course it will crash, its not if, its when

regulations will kill it, its useless if you cant convert it to other currency

are the elites using it? no. ok so how much longer you think they will allow it?

[elterrible987]

Good lord all mighty, neither does gold if you really want to get down to it. Can't believe this is still a statement in 2020.. This was said when bitcoin when it was $600, when it was $1,000, $10,000, and $20,000 for a day e years ago. It's now been hovering above $22,000 for a week.

Would i be buying in now? No, but you are a socialist plebian ******* if you have not been using bitcoin's cycles to make money. Buy the muthafukin dip.

its the same with any other bubble, any other stock or commodity, you have no way to know if after you bought in some new regulation wont come that with crash it never again returning to the value you purchased it at.

How does a non us citizen permissionlessly sign up and use venmo/cash app and send $100k usd anywhere?

Actually I doubt a us citizen can do the above. Bank wires blow balls and has terrible UX.

Btc is permissonless, self sovereign and non discriminatory, that is immense value alone. Ironic americans love freedom and dislike traditional banking practices but cant get behind btc.

ditto for all the competing coins

bitcoins only "value" over the other coins is that it is more commonly used and accepted.... gee a lot like the fiat currency

lmao at coincels thinking it is somehow immune or better than traditional currency

[elterrible987]

Bubble just means it's artificially inflated. Like I said, I don't see any intrinsic value, which leads me to believe that the price explosion is just plebs gambling. The price keeps going up because people believe that it will be worth more tomorrow than it is today, not because it has specific value. But by all means, prove me wrong. What's it's value?

this, how is it twice as valueable than it was at 10k? you cant do anything with it but convert to other currencies, the places accepting it directly for purchases are all gone now and that stopped largely due to new regulations.

so if the price double and tripled and quadripled but the intristic value has been the same... what does that tell you.

its not "investing", its gambling that more plebs will put their money in and that you will pull yours out before they do. Now you can still make money doing that and some people have gotten filthy rich, props to them for doing so but be honest about what it is, its gambling not investing and you got lucky

[HMFIC_BROWSIN]

The fact that everyone believes it's a bubble, implies that it isn't even close.

Bubbles happen when the consensus is universally bullish; not the opposite lmao.