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When Someone Tells You That Bitcoin Is A Bubble
7 years ago by cardboard (61)
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I meet a group of older British guys each morning for tea where we normally discuss important things like how expensive orange juice has become and which one of them has gout this week. This morning however a news story came on tv saying how Bitcoin had hit another record high, to which one of them asked "what is that bitcoin shit?", before I could open my mouth the owner of the restaurant in a rather angry tone told the group "ah that bitcoin thing is all a scam, don't get involved, you'll lose all your money, the ceo is some american guy who lives in japan and he already stole everyone's money, it's all total shit", all the older guys nodded, he then looked to me for confirmation and said "isn't that right chris?". My brain hurt.
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I feel your pain - and soon enough they'll be using it without even knowing it. My mum thinks whatsapp runs on the old copper wire telephone networks :/
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So what did you say???
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Nice one - have copied the image for all the naysayers ;)
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Great username...followed simply for that.
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;)
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Very valid point.
The advancement and implementation of tech is exponential. If the returns of cryptocurrencies follow suit, we will (and have) seen exponential returns.
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Amazing! Curious what the price will be when BTC gets close to the 100% :)
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Thank you for the chart! We live in exponential times without a doubt. Bitcoin is one of many developments. In The Singularity Is Near by Ray Kurzweil there are exactly such chart as proof. I also mentioned some of the developments in one article. The question is always in which phase of the innovation cycle we are currently? From my understanding we are in the early adopter phase and a further steep rise is on the horizon.
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Honestly, that doesn't stop it from being a bubble. A low-limited bubble, sure. It still is a bubble.
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It depends what you're calling a bubble
You could say all market corrections are bubbles.
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Exactly. It could pop. It could gradually grow. You wouldn't ever think the absolutely limited resource (land) would pop but it did in 2008. Healthcare is the next big bubble on the verge of popping. BTC popped before and there isn't anything but market faith that is keeping it from popping.
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BREAKING: Massive Bitcoin Dump Across Exchanges — Steemit
https://steemit.com/bitcoin/@dan0ss/breaking-massive-bitcoin-dump-across-exchanges
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UpVoted @cardboard yes people talk and it is up to Us to discern...
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