4 ms·

the US Stock market and bitcoin is in a bubble, hedge wisely

• bonestamp2 9y ago
  People were saying bitcoin was in a bubble when it went up to $50. People who say this don't understand that a new economy is emerging, an economy that exists only on the blockchain. Traditional economies will be left behind. Therefore, I do agree that the stock market is in a bubble -- in that sense the USD is in a bubble. It's not going to burst anytime soon, but do yourself a favor and hedge your bets... pick up some bitcoin so you've got a stake in the new economy when your value in the existing one crashes (you don't have to buy an entire coin).
  • paulgb 9y ago
    Those of us who were saying that at $50 still think it's a bubble at $7000.
    • bonestamp2 9y ago
      I respect your opinion, but I'd like to explain why I disagree. First of all, I think you'll agree that something is worth whatever someone else will pay you for it. So, if we're in a bubble then that means in the future, someone will not be willing to pay $7000 for one bitcoin. But, with bitcoin's limited supply and increasing demand, and it's purchasing not being limited by credit availability (like housing, cars, etc) then chances are good it's demand will continue to increase and therefore its value will continue to increase. If that doesn't happen then that means bitcoin's design is flawed -- it was literally designed to go up in value over time because it was invented out of frustration with fiat currency that nearly always goes down in value over time (inflation). The blockchain isn't the only brilliant thing about bitcoin.
  • kybernetikos 9y ago
    I see much more evidence of unsophisticated investors buying for speculative reasons than for an emerging economy.
  • lightbyte 9y ago
    >People were saying bitcoin was in a bubble when it went up to $50. A bubble getting bigger is still a bubble.