Will the Real Bubble Please Stand Up?

LOL, love the Bill and Ted memes. I was just thinking about this earlier when my extended family was asking me what bitcoin was. I was thinking in my head, if the USD wasn't an inflationary currency, this is what would happen to everyone's wealth in the United States. Anybody who saved their money would just keep getting richer, instead of like now where you'd have to chase risky gambling-type investments just to keep a good portion of what you've earned. I think gov't fiat may indeed be the real bubble. Might take a little while yet for it to pop, but it's looking more and more like it will be within the next decade.

Disclaimer: I've been saying this to myself for about a decade now, even before I heard of bitcoin.

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2 votes

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janine-ariane (53) · 7 years ago

Yesterday friends of me said i was crazy spending so much time on steemit, and i said, why, it is about the same time i used to be on fb. Where i got like 100 likes and noone really read what i wrote. Plus i have to go through ten advertisments untill i get to the post of friends that i may want to read, even when it is just about what they ate, or how long they stood in a trafficjam that day. I said in the mean time i earn something with it, look i am a month on steemit and i have 35 dollar. Now i know that is money that good writers wil make with one post, but it took me a month and i do not care, i like the interaction. They said well do not give up your day job, witch i am not planning anyway, but the way how they said it ! grrrrrr I said you can laugh but what when steem will follow bitcoin, and they went on ohw that crypto bubble ... I said well all them crypto bubbles are now owning more money than the visa company it has even got more than the bank of America.. So i think to see it as 2 soap bell bubbles, may the best one win. With money avalable where no bank has insight of, i think i know where i am going to bet on...

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2 votes

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teamsteem (74) · 7 years ago (edited)

Haha! I love it!

Fiat currency doesn't represent anything, it's not back by anything.

I know people keep repeating the fallacy that it's back by the resources a country own or the power of those countries to tax their citizenry but this is a fallacy nonetheless. The currency is backed by nothing.

When some country issue new money through fractional reserve banking or quantitive easing or whatever the mean the simple result is that those who hold those currencies see their buying power shift to those who acquire those newly issued currency.

The resources stays the same, the taxation can change or remain the same. That has no bearing on money creation.

Currency issuance is "pseudo agreed thievery".

Those worthless currencies are what is being used to buy Bitcoin, quasi risk free by those who create money out of nothing.

https://twitter.com/EnderWiggin1970/status/902263972291858433

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2 votes

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wobblle (44) · 7 years ago

It's amazing to me that I see many concerns about bitcoin being a bubble. I would go as far to say that fiat in general is artificially inflated and reinforced. Without even taking an obvious notice that fiat manipulation is taking place, it's not even difficult to assume the natural direction of fiat is to bubble. I am even shitty enough to go further and say the fiat pyramid owes it's influence to the lack of an alternative. It's all changed now. We have someone new to the block and it's not part of the block, it is the block, it is the blockchain. Now that fiat has superior competition, usd can no longer assert it's value and that is really the only function it ever possessed. My guess is the currency that bubbles is the currency that has no consensual value and I personally prefer the food that I pick over the food you force me to eat.

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bestrakibul2 (48) · 7 years ago

👍I follow and upvote you .you follow and upvote me👌please !!!!

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fabiyamada (64) · 7 years ago

Wahahahahha madness xD

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bitfiend (59) · 7 years ago

The Dollar Bubble.... this totally makes sense now. I had a thought a while back, that it's the dollar that's collapsing. Obviously it's more of a joke, but still fun to think about. I lol'd

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robert31 (54) · 7 years ago

wonderful dmania post.really i like your post..upvoted
tenor (11).gif

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lucylin (67) · 7 years ago

Very clever take, sir....

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etherjay27 (31) · 7 years ago

Bitcoins still just a baby, this is all just getting started!

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fabiyamada (64) · 7 years ago

We will be talking about satoshis soon!

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etherjay27 (31) · 7 years ago

Exactly wait till ethereum hits 10k and bitcoin hits 180k in like 2 years. To the moon

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fabiyamada (64) · 7 years ago

I have just a little but I will HODL!!!

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1 vote

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jbn (60) · 7 years ago

Mind = blown 😒

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jedau (67) · 7 years ago

Man, that would really disrupt the balance of power if it were so. If people are looking for total anarchy, then that would be it haha! I'm not sure how the world would look like after that massive bubble pops.

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mejustandrew (58) · 7 years ago

That's a good one! :))

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jenara (52) · 7 years ago

I will be the king of east even without crown. Then welcome to my kingdom. of course it's true bro. seriously.

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jennifar12 (44) · 7 years ago

nice work

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denmarkguy (77) · 7 years ago

It would not surprise me if the runup in Bitcoin is a reflection of a growing loss of confidence in other forms of money... indeed, what if... what we're seeing is actually a "flight to safety?"

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stmeme (58) · 7 years ago

giphy (21).gif

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venusjain (37) · 7 years ago

We cannot be sure, but it shall be a journey worth it.

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stealthtrader (67) · 7 years ago

Exactly.. This is what Max Keiser was talking about in that video this morning lol

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