Bitcoin is a Bubble

[Lord Commander Palis]

Calling yourself President here and gloating over it makes you a small mind. Small.

Ask me anything. Good luck.

Lol the fun of it was the election. The title is fun because it pisses off certain people here, like you.

Good times thanks for the laughs. No need to ask an peon like you anything, you're not in my cabinet

 

[Buck Swope]

Lol the fun of it was the election. The title is fun because it pisses off certain people here, like you.

Good times thanks for the laughs. No need to ask an peon like you anything, you're not in my cabinet

The laughs are on you.

 

[7437]

Gold is a spectacular element.

That's why it's coveted.

Bitcoin is anonymous.

That's why it has value.

Really? Spectacular in what way.

 

[trident]

Really? Spectacular in what way.

It's a very unique element.

It doesn't rust. It's malleable. It shines and gleans and is the color of the sun. It's rare.

That's why it's been coveted across the globe for thousands of years.

It's not like other material. Of course there's platinum which is more rare. And their is silver which is less rare and tarnishes.

Copper is not rare.

But that's about it for the elements that can do similar things as gold.

 

[mike sherry]

It's a very unique element.

It doesn't rust. It's malleable. It shines and gleans and is the color of the sun. It's rare.

That's why it's been coveted across the globe for thousands of years.

It's not like other material. Of course there's platinum which is more rare. And their is silver which is less rare and tarnishes.

Copper is not rare.

But that's about it for the elements that can do similar things as gold.

it still doesnt offer much utility except for being a great conductor

 

[trident]

it still doesnt offer much utility except for being a great conductor

You can make a figurine out of it and talk to god.

 

[7437]

It's a very unique element.

It doesn't rust. It's malleable. It shines and gleans and is the color of the sun. It's rare.

That's why it's been coveted across the globe for thousands of years.

It's not like other material. Of course there's platinum which is more rare. And their is silver which is less rare and tarnishes.

Copper is not rare.

But that's about it for the elements that can do similar things as gold.

so its value is that its pretty. Yeah. It has the same intrinsic value as nearly anything else used as currency. None. Its value comes from being used as currency for a very long time.

 

[lecter]

i have the best bitcoins

 

[trident]

so its value is that its pretty. Yeah. It has the same intrinsic value as nearly anything else used as currency. None. Its value comes from being used as currency for a very long time.

I think you are missing the point.

It is a rare and unique element.

It's not just pretty.

Anyway, moving on

 

[7437]

I think you are missing the point.

It is a rare and unique element.

It's not just pretty.

Anyway, moving on

All elements are unique

 

[Thunderflash500]

I think you are missing the point.

It is a rare and unique element.

It's not just pretty.

Anyway, moving on

He's obtuse.

The point is that gold has been used for thousands of years. Its held value the entire time and still used in every nation. Every culture enjoys art. Every culture uses jewelry. Yet he'll sit there saying "Durrrr bitcoin doesnt tarnish." Oh great argument. Really have me convinced moron. God damn its annoying. I mean make a real argument. Convince me people aren't hoarding and speculating. Prove that its being more accepted. Instead its just obtuse retardation. "Durrrrr all elements are rare"

 

[Blackened]

i have the best bitcoins

Bigly.

 

[waiguoren]

The price of a Bitcoin is higher now than an ounce of gold. This is hilarious to me. How is something that doesn't exist end up being worth more than gold? "But it has value, It's a digital currency. " The dollar is a digital currency. "But it can't be manipulated by central banks." Perhaps the best argument. But it's still a currency backed by nothing but confidence. This is called mass speculation. It's not that i think its value should be zero. But worth more than gold? Nah. Bubble that'll crash.

Am I wrong?

Bitcoin has a lot of important features that gold bars don't:

• Instant transfers to anyone with a bitcoin address
• Extremely low fees
• No physical footprint to bog down transactions/perfectly portable
  
• Predictable growth in quantity

 

[hasar]

Will it pop?

 

[SammyPops]

Bitcoin is like flat earth .... I just do not get it.

 

[Thunderflash500]

Will it pop?

We will see. It did go from 1800 back up to like 4,000 grand all based on news events. To me it shows how speculative it all is. The major flaw with Bitcoin isn't bitcoin, it's that anyone can make a coin. It's unlimited.

Bitcoin can potentially be a great thing. But it's really hard to tell.

 

[HIMBOB]

yes, that is how speculation works. Given that there is really nothing to compare it to, ever, it is kinda hard to say if its a bubble or not. if the demand for them is real it will continue to go up. if not, they will crash. If you are really certain, im sure there is a way to short them.

Tulips

 

[HIMBOB]

Rarity, ability to easily mold it, it doesn't rust, people the world over use it as jewlery and always have and it doesn't tarnish.

Like 90% of usage is jewellery etc.

Mainly its just pretty.

 

[Thunderflash500]

Like 90% of usage is jewellery etc.

Mainly its just pretty.

I really dont know whats its mainly used for. But billions of Asians historically use it as a store of value. So it's not losing value anytime soon.

 

[HIMBOB]

What is the point of an etf for a digital item? Why not just buy the item?

My biggest concern is i know nothing about storage and if it becomes really valuable people can take my stake.

Its like gold etfs. Pay a fee someone else stores it.