Bitcoin

Jan 7, 2021 11 Comments

Is bitcoin a bubble, it's going up like crazy but atleast I don't understand why

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  • Google
    btc

    Go to company page Google

    btc
    People and institutions are trusting that Bitcoin will hold its value better than fiat currency, treasuries or even gold. Money flows where there is most confidence and that is not in the dollar at this time.
    Jan 7, 2021 0
  • No it’s very logical
    Jan 7, 2021 0
  • OP
    But isn't it a fake demand and people are buying this virtual currency just because it's going up and not because they will use it anywhere.
    Jan 7, 2021 3
    • To be honest that is how money works. Currency we use everyday is “fake” ie debt that is not backed by any physical assets, but by the credit of the government and economy of the country of issue to repay that debt.

      Bitcoin is backed by all the people who buy it and believe in its “value”. The miners who run the network and collect fees, exchanges which allow Bitcoin to be transacted, investment funds which want to hold it and diversify their capital allocations, speculators betting on its growth, and wealthy people who wants to perhaps to protect their wealth from government regulation and unlawful seizure. Different players in the market have different incentives for owning Bitcoin, and they all contribute to its growth

      Ordinary assets are under heavy regulation by government. There have been times when businesses, property, pension were seized by government, during times of economic crisis and war. By holding your wealth in cryptocurrencies government cant take it away. Have you heard of wealth tax? Government can’t tax your wealth if you own them in Bitcoin since its anonymous, unlike your bank account, and you can easily transfer asset across borders. In some countries such as China, buying foreign currency is heavily controlled, essentially Chinese government does not want domestic capital to go offshore. Bitcoin will be a great way to circumvent it.
      Jan 7, 2021
    • Amazon
      quenchmss

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      quenchmss
      Bitcoin has 0 value if US gov ever treats it like a currency and demands sales or transaction taxes be paid in USD from Bitcoin. Currency gain their value from a gov’s ability to tax. Which is why no country will ever except Bitcoin as a tax payment, ever.

      Bitcoin has no value as a currency. It is at best a digital gold.
      Jan 7, 2021
  • Pony.ai
    ponypnypny

    Go to company page Pony.ai

    ponypnypny
    Because cash is trash.
    Jan 7, 2021 0
  • Facebook
    zuckSander

    Go to company page Facebook

    zuckSander
    Housing market is bubble too, and might crash.
    Jan 9, 2021 0