Reply to post: Re: If it's a bubble, someone blowing really hard

Bitcoin price soars amid technical troubles for exchanges

Mage Silver badge

Re: If it's a bubble, someone blowing really hard

"It's easy to say it's a bubble when you don't know anything"

It's also easy to point out that it's a bubble when you do know. The ONLY thing not known is when it will burst.

There is no production or earnings or real changes in other currencies to support the current price.

The transaction time is non-linear and high. It's not scaleable to be used for regular frequent transactions by a reasonable number of people.

The only "problem" Bitcoin and other Cryptocurrencies solve is anonymity.

It's purely a speculation vehicle. The massive change in price actually proves this.

I'd not argue that it can't reach $20K, that would make it clearer to idiots that it's a bubble.

People buying now KNOW it can't last but are gambling that they can get out with a profit. That is characteristic of a bubble.

Also when it's too expensive to "mine" or there are no more to mine?

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