What really underlies this issue is whether you think Bitcoin is over or undervalued. Griffin leads off saying this is a bubble understanding that the people at

What really underlies this issue is whether you think Bitcoin is over or undervalued. Griffin leads off saying this is a bubble understanding that the people at Blomberg already believe this. Without a real justification for why Griffin values Bitcoin at less than the current market price this article is nothing but fluff. Of course if it is a bubble, this is a bad thing for those invested in Bitcoin. That is not up for debate. If it does burst, there will be plenty of tears, but the value of the entire Bitcoin ecosystem is still tiny compared to classic commodities like gold or real estate. I have seen several articles here on HN recently that have seem to all confirm that Bitcoin is a bubble, but I haven't read anything that dives into the real substance behind the claim that Bitcoin is overvalued. I understand the scaling issues, but I am confident that something like the lightning network can solve those. I don't believe that all transactions can be on-chain as this would make running a full-node and verification of the entire chain very difficult over time.