Calling Bitcoin a Bubble Won't Help. The Bubble Has Made Millionaires Already!
There is a term called Bitcoin Millionaires. It's a group of people who became millionaires just with the help of Bitcoin. To be very exact:-
Bitcoin millionaires are the people who believed in Bitcoin while others kept calling it a bubble.
Bitcoin Bubble image is free from Pixabay
Calling It a Bubble Won't Help!
Bankers have been calling Bitcoin a bubble. Economists have been calling it a bubble. Traditional millionaires have been calling it a bubble. Almost everyone has been calling it a bubble.
Any effort to destroy Bitcoin is futile. Pixabay
But the bubble fails to burst. In fact, it seems to be like a balloon which is expandable to an unlimited magnitude without bursting. It's not a balloon though. It is real and it is making people rich.
To be rich through Bitcoin, all you need to do is to believe in it.
People who are believers of this new wealth distribition system are making money while losers are calling it a bubble, only to add to their regrets.
- They called it a bubble when it reached $100.
- They called it a bubble when it reached $500.
- They called it a bubble when it reached $1000.
- They called it a bubble when it reached $2000.
- They called it a bubble when it reached $5000.
- They called it a bubble when it reached $10000.
It is well beyond $11,000 and they still call it a bubble. Even more so when the value rises. But...
Bitcoin is NOT a Bubble!
The earilier these people realize, the better for them. They object to Bitcoin's element of freedom from central banks, not knowing that it is a good thing. They object to no centralized control, without realizing that centralized world is so messed up.
They object to its presence or non-existence but they don't object to presence and inflation of paper currency. They don't object to heavy fees that global transfers have. They don't object to the looting and manipulation.
They object to freedom of the people. They object to the chance that people have with Bitcoin. They object to power of the people.
Conclusion
Let them call Bitcoin a bubble. Let them object. Keep believing in Bitcoin. Keep marching on. Keep making more money. Earn your financial freedom.
Calling it a bubble will not help. Rightly said. I started follwing Bitcoin when it was just under $2000. It seemed to be a far fetched idea that Bitcoin will ever cross $3000. It did in a week. I have seen it gain more than 5 times since June. That's a lot of progress.
Yes bro @ilyastarar you said right by adding I would like to say here that if people want to call bitcoin a bubble, they ought to explain why exactly it is, instead of incompetently comparing it to past bubbles that do not share any characteristics with bitcoin other than a big price tag. It is more likely that bitcoin is just an amazing creation. Bitcoin has risen 900% in value in 2017 so Bitcoin is the fastest-growing asset in the world this year.
You got that right bro. They're trying to compare apples to bananas. Some are calling it shares as though you're buying stock certificates. LOL
It's everytime as you said the same and same thing over and over again
the fun part for me is that most of those that speak of bitcoin like this are either people of a certain age that most likely are very used to regular terms of money or just dont want to think outside of the box, either those that when they bitcoin at a low price let's say 100-1000 or even 2000-3000 they didnt buy it and now are mad so the only way for the to feel better is to believe that it's a failure.
Only a couple of people have good and solid arguments about bitcoin value will drop not it will drop very drastically and those gain my respect. i remember 2-3 days ago i think that bitcoin for 11.000$ went 9000+$... thousands of article came out of nowhere with the ''ITS A BUBBLE'' or '' I TOLD YOU SO'' stuff.
anyway great post keep it up!
Hahaha this part has been added for those who are just saying bitcoin like a bubble even seeing its continuous rising value day by day. A lot of thanks bro @filotasriza3 for your wonderful thoughts that you shared.
Well, Bitcoin users are thinking the bitcoin like a conventional stable position in future, and that is right because bitcoin's underlying work is going to be upgraded in November for the increasement of its transaction speed.
Investors are also trying to shift other currencies into bitcoin because its fluidity typically offers the bonus of extra coins. so hope for the best always
haha you get me! and for what we all saw from bitcoin's cash and bitcoin's gold birth nobody has left bitcoin to his doom, all the eyes are around it and a handful of people are trying to make it worth more (11.000$+ till now) so let all the haters keep hating, nobody cares!
And recently, they called it a bubble when it reached $11.400. LOL
not sure about that.
I own BTCs and several other coins myself, because believe in the blockchain technology. The technology is not a bubble for sure. BTC must improve a lot to become a fully functioning currency - we all know there are huge problems, especially with the overload of the blockchain and the insane electrical power it uses per transaction. Or they give up being a currency, and become something like digital gold.
If neither of this two things happen, it will go down at some point, and others will take over. If they manage to improve, price will stop to rise at some point but stay more or less stable.
One thing is sure: it cannot go upwards forever.
Thanks for sharing your precious thoughts bro @sco I would like to add here that those problems are temporary so we should have a strong perspective that Bitcoin is extremely secure currency with its long-term viability so it is expected to boost its success. All bitcoin users know very well that transitory is prima of the digital currencies. So they don't get confused about its pumping and dumping prices.
So BITCOIN is still being relished as the most preferred and well-established digital currency.
This is why those mining machines in huge warehouses in the normally cold climate countries are keeping them going. Especially in the Scandinavian countries and the Netherlands. Then there are those in homes in around the world mining those bitcoins, etc.
Such outstanding post. Thanks for sharing brother @hamzayousaf.
Thanks bro @irfanullah
I wrote an article about this just the other day.
Those that call Bitcoin a bubble, especially those that are educated in such matters, are simply misleading the public.
A bubble has certain characteristics that Bitcoin does not share.
https://steemit.com/bitcoin/@farq/why-bitcoin-is-not-in-a-bubble
Thanks for sharing your precious views bro @farq
Well let me add here that BTC has shown strong staying power by its continuous extending price and obviously more people come to understand that bitcoin is potentially sound money and thus a good store of value.
People who call Bitcoin and Cryptocurrencies just fluff, don't realize that there is this whole Blockchain technology behind it, which actually enables decentralized handling of transactions and storage! So, yes, far from a bubble, I would say.
Dude, the big players dont think blockchain is a fluff, only its prices. And the good ones have some solid argument, but in the end its all a great game of guessing the Future on both sides.
What Will define the bitcoin Future if people will start using the blockchain in everyday stuff.
My personal guess os that blockchain Will in the end be integrated in some way on our daily lives, and the bitcoin Will have a Very high value due to its pioneering, but wont be the blockchain we will use
The demand for the asset is huge BTC price is going higher, and in most cases there are 20 buyers for every one seller. so its worth is going good because blockchain promissed to support fully in future as well so lets see what happens next@phgnomo
Indeed, and the demand will probably increase in lots of years to come. But at some point it will get kind of stable.
But there is a lot of other projects appearing that might have better usability than bitcoin, and that cost a lot less to process.
I dont think its wrong to compare bitcoin with gold, but in the future we will have options that works a lot more like the money we have nowdays.
A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. It’s cool currency with its increasing value which is really attracting the people.
thanks for your nice comment bro @hmushtaq
But stupid people belive that it is a bubble so it is harder for bitcoin to get more volume in the mainstream the it would be if everyone say it is the outbreak of our financial freedom.
Stupid is something these people definitly are not.
Have you ever thougth the real reason some of tem atttack bitcoin so furiuosly?
Just think about what their job is about.
But its fast growing procedure is mentioned in the post as a proof so the people who call it a bubble are unaware of its usage because they are still confused about its bumping dumping prices in the last month.
but soon they are having to adopt positive perspective about BTC. Thanks for sharing your thoughts bro @empty
the greatest bubble of our life time, far from over...just 340 b.....should reach 1 trillion in 2018..... then more than a trillion per year.....coinbase only getting 100,000 accounts open PER DAY !!!! guess what they will buy...bitcoin will e between 20 and 40 k this summer
They will remain to call bitcoin a bubble , that’s okay . There right about one thing history repeats itself but we haven’t seen anything like bitcoin in history. It can not be compared to the tulip mania so don’t even try it . This is the biggest opportunity of our lifetime but they’re too blind to see it .
From a few days up to now, bitcoin developed day by day and traders and investors are enjoying the advantageous BTC use and its investments. This is a cause of great gratification exactly for all bitcoin users.
So we dont care if they remain to call btc a bubble @cryptotash
btc value is just gass in the balloon some time its price is high & some time low
Bitcoin’s rapid rise has pulled up the prices of other coins too, to the delight of their owners. so its price is going to be high and high in future. So cheer up bro and thanks for sharing your views @iwant
Yes, it sure has pulled up the prices of other coins for sure. I"ve been watching caustiously the ICO's out there, too.